kostryukov
Long

FUTURE OF BITCOIN

BITSTAMP:BTCUSD   Bitcoin / Dollar
Cycle by cycle
;)
I'd love to be your broker.
+1 Reply
Highly interesting! Your chart represents exactly my thoughts. Makes a lot of sense that bitcoin behaves at the moment like after the 2011 bubble. After all, we had a huge increase in 2013. Takes thus more time to deflate, but the network keeps growing and growing, just look at the number of transactions or wallets. 2014: the year of bitcoin network growth, 2015 will thus probably be more akin to 2013 with large price increase.
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I hope so!
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16k btc would be brilliant.
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How did you come up with the next smaller bubble peak around early February 2015? Because that is where my Fibonacci time zones see a turning point:

- long time-frame Fibonacci time zones


- medium time-frame time zones (zoom out to see the light blue time zone no. 5)
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You mean bear trap?
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Muwa MoonTrader
The rise from 400 to 680 last spring was a bull trap.
+1 Reply
I don't know what you're seeing, but both of the places you circled on your chart look like good places to buy if you're right. That means they're bear traps. I wouldn't really call the rise from $400 to $680 a bull trap since the price has barely gone below $400 still, and according to you, it's about to go up.
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manbearpig MoonTrader
Do you know what a bull trap is? Most of the bulls bought in at 500 and above up to 680 after seeing the rise from 400-500.

Given its now <400 some of those bulls have lost a far chunk of change (if they continued to hold). Hence bull trap.
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CaseyDetrio manbearpig
Then the bull trap should be confined to the $500-$680 time range. The first bull trap should be right at the $30 peak of 2011, and maybe another one right at the $7 peak of January 2012. The $2 bottom in between is a bear trap, *not* a bull trap.
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