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karol
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November 19, 2014, 09:47:22 AM |
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So short it in Your opinion or will it go to 2400 what do You think?
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madmat
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November 19, 2014, 09:55:24 AM |
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We have seen a triangle breakout and although the thrust was strong this is still not a valid base to push upwards from. I expect a bearish movement tonight. Triangles are always terminal moves.  Thanks again for posting. Do you think we will keep going down after that movement ? |
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podyx
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November 19, 2014, 09:59:01 AM |
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I pray that you're wrong this time...
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ask
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November 19, 2014, 10:52:49 AM |
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I pray that you're wrong this time...
It looks that someone is reading this tread ... and taking advantage of it. |
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podyx
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November 19, 2014, 10:54:42 AM |
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I pray that you're wrong this time...
It looks that someone is reading this tread ... and taking advantage of it. What you mean? |
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chessnut (OP)
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November 19, 2014, 10:59:23 AM |
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Thanks again for posting. Do you think we will keep going down after that movement ?
No I think we will be very much range bound for some time. doldrums  |
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Tzupy
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November 19, 2014, 11:08:38 AM |
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Thanks again for posting. Do you think we will keep going down after that movement ?
No I think we will be very much range bound for some time. doldrums Until the market will understand it can't build the sub-waves required for the bullish scenario, after that it will seek THE real bottom. |
Sometimes, if it looks too bullish, it's actually bearish
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chessnut (OP)
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November 19, 2014, 11:14:42 AM |
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Until the market will understand it can't build the sub-waves required for the bullish scenario, after that it will seek THE real bottom.
I am tracking both scenarios. Its no good being too sure of these things. At the moment we are not unfolding in a typical wave V price action, so I would argue that the market is capable of building those sub waves. |
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podyx
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November 19, 2014, 11:18:13 AM |
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Wow, heading down I guess??
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chessnut (OP)
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November 19, 2014, 11:26:40 AM |
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Wow, heading down I guess??
thats the forecast. might be a bumpy road but targets are in the 21xx range. |
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prophetx
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he who has the gold makes the rules
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November 19, 2014, 11:33:14 AM |
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Wow, heading down I guess??
thats the forecast. might be a bumpy road but targets are in the 21xx range. a thought occurred to me... if one wanted to bid on 50k btc and had a lot of btc sitting around to play the market, one would ensure that one was able to obtain them for a good price in the upcoming auction. |
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chessnut (OP)
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November 19, 2014, 11:41:20 AM |
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Wow, heading down I guess??
thats the forecast. might be a bumpy road but targets are in the 21xx range. a thought occurred to me... if one wanted to bid on 50k btc and had a lot of btc sitting around to play the market, one would ensure that one was able to obtain them for a good price in the upcoming auction. I just read the waves  so many ways to move the pieces on this giant chess board. |
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Barney
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RevolverCoin dev
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November 19, 2014, 12:37:18 PM |
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Chessnut's count looks probable to me. Possibly failed triangle breakout after such deep correction seems to be fairly bearish. Recent price action is however surprising for me. After such strong volume on recent price spike I was expecting that we at least test longterm resistance once more like back in June\July before reversing. Waiting 370(this is also where 200 4h EMA rests which provided good support recently) support to be broken however before shorting this one.
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chessnut (OP)
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November 19, 2014, 12:47:32 PM |
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Chessnut's count looks probable to me. Possibly failed triangle breakout after such deep correction seems to be fairly bearish. Recent price action is however surprising for me. After such strong volume on recent price spike I was expecting that we at least test longterm resistance once more like back in June\July before reversing. Waiting 370(this is also where 200 4h EMA rests which provided good support recently) support to be broken however before shorting this one.
Its kind of a misnomer to say a failed triangle breakout because always, a triangle that meets the criteria of the EW principle is a terminal move of one higher degree fractal. I think it is the only count I have used on this thread that has never failed me. Triangles come after the momentum of a move, or the deceleration stage. they are in between the hammer and the anvil you could say and tend to swiftly hit the ceiling or bottom and reverse after they break out. |
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Carra23
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November 19, 2014, 11:05:37 PM |
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I pray that you're wrong this time...
It looks that someone is reading this tread ... and taking advantage of it. I doubt they care about some thread on Bitcointalk. Wow, heading down I guess??
thats the forecast. might be a bumpy road but targets are in the 21xx range. Any time frame? Includes the weekend? |
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prophetx
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he who has the gold makes the rules
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November 20, 2014, 01:42:59 AM |
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Wow, heading down I guess??
thats the forecast. might be a bumpy road but targets are in the 21xx range. a thought occurred to me... if one wanted to bid on 50k btc and had a lot of btc sitting around to play the market, one would ensure that one was able to obtain them for a good price in the upcoming auction. I just read the waves so many ways to move the pieces on this giant chess board. yup true. but as you pointed out a couple weeks ago that there were a few scenarios, bullish and bearish. we seemed to have broken toward the latter. had i significant resources, which some people do, i would ensure that those resources are working to play out scenarios that benefit my returns. there is also another guy doing EW on this forum, that I think was a bit more bearish than you, but still had the same scenario. anyway given the paths that were laid out and given that a very large whale wants to make a bid, there is no incentive now for the whales to bid up the public market price. what will be interesting will be the premium that the winner of the auction will pay, if any. given that there are 2 more auctions after this one, I think one needs to keep that in the back of one's head when considering the various EW scenarios. of course now I guess there will be another set of auctions for the silkroad2 guy but i think most of those btc got "stolen by a hacker" whatever that means .... |
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Globb0
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November 20, 2014, 08:35:27 AM |
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What time period is best for looking at patterns? 30 minute candles ? or something else ?
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madmat
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November 20, 2014, 08:47:44 AM |
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Price is going down, we are now near the 2160 target exposed by chessnut. Any idea about future price ?
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Phillis
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November 20, 2014, 08:55:30 AM |
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@chessnut, you sir, are a god among men with your analysis. I honestly did not believe he would go this low, but you definitely called the move down.
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