2012-05-10 Bitcoin Report: A Breakout Warning

[PawShaker]

Bitcoin Report: A Breakout Warning
May 10, 2012 By S3052

Since our last report, Bitcoin prices continue to look bullish overall. The bitcoin economy is prospering and improving.  More upside is likely. Once the current period of low volatility is over, we may see a massive rally that could test or exceed the all-time high of $32.

Only a break below $4.73 would temporarily suspend the bullish outlook.

In our opinion, a breakout of the recent tight trading range is about to happen, possibly within the next 24-48 hours. Why? Because the bollinger bands are at historical lows right now:
[...]

http://x.mensnewsdaily.com/2012/05/bitcoin-report-a-breakout-warning/

[Stephen Gornick]

Ha, that's from s3052's subscription service.

Posted by s3052, so it was intentionally published publicly.

[giszmo]

oh come on please delete this bullshit!

[julz]

Usually these s3052 reports appear on hawaiinewsdaily
http://hawaiinewsdaily.com/2012/05/bitcoin-report-breakout-warning/

I've not reported them here in the past as that website seems to be a user-content site rather than a proper news outlet, and s3052 is clearly a bitcoiner so it's not really an outside 'press hit' or notable source.

[zby]

This in the Press Hits forum is a bearish sign - smells desperation.

[proudhon]

This in the Press Hits forum is a bearish sign - smells desperation.

Exactly.  This was a key signal for me to stay out of bitcoins. 

[mem]

I bet 1 btc that within 48h of op's post the price will not hit 30+ as claimed, any takers ?  .

[waveaddict]

I bet 1 btc that within 48h of op's post the price will not hit 30+ as claimed, any takers ?  .

I bet 1 btc that a year from now, people will still be as much paying attention to the bullcrap that is TA
and wasting time and bandwidth discussing various "strategies" while having been shown repeatedly how
these "techniques" hold no value whatsoever, especially when applied to something as new and different
as BTC.

Throughout the millenia, people have always needed oracles, psychics, card readers, etc ... Nothing's changed
on that front, except the name of the con.

Spoken like someone who has never actually taken the time to study TA...and I'm talking about for years in not decades. It's not one of those things that you can just understand and then profit from without practicing it for years. Keep in mind that nothing worth learning or worth doing comes easily. Yeah, of course TA is useless if you have no idea how to use it or if you are taking advice from someone who has no idea how to use it correctly.

[mysteriousawake]

[/quote]

Spoken like someone who has never actually taken the time to study TA...and I'm talking about for years in not decades. It's not one of those things that you can just understand and then profit from without practicing it for years. Keep in mind that nothing worth learning or worth doing comes easily. Yeah, of course TA is useless if you have no idea how to use it or if you are taking advice from someone who has no idea how to use it correctly.


[/quote]


Welll said Wavy Gravy Addict,  take much practice.  So much that all counts can always be invalidated and a new one is there. 

[Raoul Duke]

That article was wrong. It wasn't a breakout but a break in lol