MTGOX:BTCUSD   Bitcoin / U.S. Dollar
1358 19 11
A trading opportunity is likely imminent...
what if the big movement has been merged with the SR thing ?
I am of the opinion that the chart doesn't care about the SR thing or any other "news" (but others think the news "matters") . Either way, fibonacci doesn't know about the news. It is just a static relationship between two dates that occurred months ago.

Lets see if anything happens when 1.618 is met in time, which is between now, and the next 30 hours or so...
LeMogwai JimFred
ok, i see what mean. Are you bullish on this movement ? what about a pattern like this : up -> stagnation -> down
Hey Jim

Excellent use of Fibonacci Timing. To be even more accurate, you would look for previous symmetrical price and timing moves and see if Fibonacci levels (.382, .618, 1.272, 1.414, 1.618, 2.272, 2.1414, 2.618 ... ) for clusters aka confluence. The more Fibonacci clusters you have the more probably you see a future price or timing target.

Trading View will be adding the two point Fibonacci timing tool. This will greatly help you find timing pivots. Trading View already has the Fibonacci extension/retracement tool. You can use the Fibonacci extension/retracement to mark future supports/resistance or price targets using Fibonacci extensions.
Another question, how do you go short on BTC. I see nothing else than switching to fiat? Or do I miss something?
Taidiji Corelianer
there s a bunch of bucketshops that let you short btc. I'd be waiting for Coinsetter to open for any serious short though, I'll be happy to let them lend you my bitcoins against interest !
Bitcoin has very low liquidity and a lot of amateurs holding... That explains moves like the SR panic. Lot of new media exposure these days, and change of tone since April = new story. This is going up. And you check the log charts if you want to do better charting too :D. It's the time to trade on technicals especially considering we hit the 200ma 2 times already. The only technical that matters is when we break the upper trendline.
so you say basically down, soon?
I would believe it is more likely moving up
I didn't actually say up or down. I merely said to expect a trading opportunity. However, since you ask, my expectation is that the short side is more likely to be the profitable side. We will see in the next 24 hours I would guess...
bart.medes JimFred
60x1.619= 97 means down, so you actually did say down.
Taidiji, I asked you politely not to comment on my pages. You are not a gentleman and you are not welcome here. Please post your own ideas and leave us be.
Seems like the long was the profitable side this time.
Could be... But I don't think the move has even begun yet... I am thinking in the next 12 hours we ought to see a move begin that will be visible on a weekly chart,,, We won't have to wait long to see if my thinking is correct, or not...
Hard to call this now. We did have a decent move up the day prior and we are still somewhat up (But lots of movement since the SR thing). The start of a new move, a delay, or ?
IMO its still a tossup. This should be the start of a move visible on a weekly chart. Either up or down. And we are still in the time frame of 1.618. The chart has moved up a few points, but far from enough to be seen on a weekly chart. If it rallies strong from here that would do it. But somehow, I just don't feel like she wants to do that. But never say never... Lets see what she is going to do...
I now think Coreislander was correct. If there was a Fibonacci move begun at the 1.618 timeframe, it seems clear that it was the start of a move up. I am increasingly getting the feeling I need to lose my bearishness, and accept that this market might be at the beginning of another rally.
Taidiji JimFred
You mean I was right
Lol... silly red dots....
Isn't that something? Look at the rally that started right on bar #97...
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