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AmazonStuff
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January 17, 2015, 07:55:25 PM |
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According to my research based on mining cost, general interest (not based on exchanges data or Google stats), shy TA divergence and a few things from my trading methodology, from this point we are going up.
Oh great...I just sold my stash...couldn't you have told me this sooner? It's going to take 3 days for me to make a bank transfer. Do you think it will stay at 200 until then? I'm not the God  This is just my opinion, maybe your strategy is better, so relax. |
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bassclef
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January 17, 2015, 07:58:25 PM |
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 ?At least on the basis of equity markets, descending triangle patterns break to the downside 64% of the time but that doesn't mean it can't break to the upside. Looks more like a wedge though from the swing lows. Whatever it is, you need to take into account the market background and not simply draw lines around arbitrary support/resistance points and look for pattern matches at investopedia. That is not good TA. The background is that we had a reversal with record volume. That means a lot more than triangles, and is potentially very bullish. Super risky to short this. |
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Afrikoin
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Activity: 1540
Merit: 1003
alan watts is all you need
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January 17, 2015, 07:59:43 PM |
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According to my research based on mining cost, general interest (not based on exchanges data or Google stats), shy TA divergence and a few things from my trading methodology, from this point we are going up.
can i quote you on this Mr. / Mrs.? |
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ChartBuddy
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Activity: 2800
Merit: 2413
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 17, 2015, 07:59:59 PM |
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Bitfinex  Bitstamp  Explanation |
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NotLambchop
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January 17, 2015, 08:00:07 PM |
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Bulls can't even keep the price above 200.
Weak.
You mean bears can't even push the price below 200  Don't want you tasty cattle to get spooked and run away, we bears have cubs to feed... |
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Afrikoin
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Activity: 1540
Merit: 1003
alan watts is all you need
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January 17, 2015, 08:01:50 PM |
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AmazonStuff
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January 17, 2015, 08:01:55 PM |
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According to my research based on mining cost, general interest (not based on exchanges data or Google stats), shy TA divergence and a few things from my trading methodology, from this point we are going up.
can i quote you on this Mr. / Mrs.? Feel free to do whatever you want mate  |
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Blazin604
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January 17, 2015, 08:03:09 PM |
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Buy buy buy buy buy buy
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mrkavasaki
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January 17, 2015, 08:04:34 PM |
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Buy buy buy buy buy buy
why? |
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Afrikoin
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Activity: 1540
Merit: 1003
alan watts is all you need
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January 17, 2015, 08:05:08 PM |
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? At least on the basis of equity markets, descending triangle patterns break to the downside 64% of the time but that doesn't mean it can't break to the upside. Looks more like a wedge though from the swing lows. Whatever it is, you need to take into account the market background and not simply draw lines around arbitrary support/resistance points and look for pattern matches at investopedia. That is not good TA. The background is that we had a reversal with record volume. That means a lot more than triangles, and is potentially very bullish. Super risky to short this. $ 200 is not arbitrary. Pattern matches are very common in BTC price movement. It is not my fault. That is just how it is. You can draw 100 lines and this simple 2 lines could work fine. The rest of it is not on the chart -- its my gut feel and all the research i have shoved up in my head. I find simple things to work incredibly. And btw, sometimes this triangle breaks to the upside. |
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Afrikoin
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Activity: 1540
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alan watts is all you need
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January 17, 2015, 08:12:16 PM |
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Everything about this screams indecision! Whichever way we break, it'll be massive.
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Afrikoin
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Activity: 1540
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alan watts is all you need
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January 17, 2015, 08:13:50 PM |
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Wekkel
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yes
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January 17, 2015, 08:15:29 PM |
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It all looks terribly weak  |
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bassclef
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January 17, 2015, 08:17:22 PM |
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Everything about this screams indecision! Whichever way we break, it'll be massive.
Not necessarily. I'm half expecting a revisit to $160-$170 if things get bearish. But it will be on lower volume and act as a way to clear out the few remaining bears and weak hands--however the initial crash did a pretty good job with that--and will act as a spring upwards. Since the weak hands won't be there to dump into a rally, it will be stronger and more sustained. This is why large reversals follow large crashes, and vice versa. |
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ronald98
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January 17, 2015, 08:26:39 PM |
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Which website provides this data. Is it bitfinex? |
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NotLambchop
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January 17, 2015, 08:31:35 PM |
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...Since the weak hands won't be there to dump into a rally, it will be stronger and more sustained. This is why large reversals follow large crashes, and vice versa.
So... The worse things look, the better they actually are? I think I'm starting to understand. |
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Blazin604
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January 17, 2015, 08:34:50 PM |
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...Since the weak hands won't be there to dump into a rally, it will be stronger and more sustained. This is why large reversals follow large crashes, and vice versa.
So... The worse things look, the better they actually are? I think I'm starting to understand. Exactly. |
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Afrikoin
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alan watts is all you need
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January 17, 2015, 08:38:58 PM |
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Everything about this screams indecision! Whichever way we break, it'll be massive.
Not necessarily. I'm half expecting a revisit to $160-$170 if things get bearish. But it will be on lower volume and act as a way to clear out the few remaining bears and weak hands--however the initial crash did a pretty good job with that--and will act as a spring upwards. Since the weak hands won't be there to dump into a rally, it will be stronger and more sustained. This is why large reversals follow large crashes, and vice versa. Found this on some thread. That is the second bottom you decribe, right?  |
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yefi
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Activity: 2842
Merit: 1515
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January 17, 2015, 08:43:29 PM
Last edit: January 17, 2015, 08:59:35 PM by yefi |
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lol, that's great |
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heartastack
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January 17, 2015, 08:52:47 PM |
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The Alts... Will.... RISE |
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