NightWish
Long

2014 What has happened and what is yet to happen

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
8021 18 44

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Update: because my technical skills are not there nor here, my USD 479 is off. We are going to test USD 522 (thank you @4xForecaster for the real technical skills). If Bitlicense comments = unclear we are going to retest lower again which will be around USD 240 / 250, if it is positive we will go straight through 525 and make it support again, probably rallying straight up to USD 650 / 706 where the biggest bulls are waiting to support the rally. Then around the end of december we will see the final version of Bitlicense which i think (hope) will be positive. USA is blocking Argentina to pay of their debts so i can see Argentina going for full default end of december as well, this will all be combined news to start a really strong new Bitcoin             rally.
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This is my first graph ever here, I'm aware that it's not technically accurate but it's the main idea behind it all that matters. These are my thoughts on what has happened and what might still happen. Feel free to comment and remember, it's just a theory ;)

21st october;
Source: http://www.dfs.ny.gov/legal/vcrf_submit_comments.htm
Additional Information: http://www.coindesk.com/new-york-extends-comment-period-bitlicense-proposals/
This will be a comment-period, so I was a bit off with the information on that, it's where the Bitlicense will be open for comments.

25th December;
"In a statement released today, the foundation highlights the need for public access to the “extensive research and analysis” cited by the NYDFS when the BitLicense was first proposed. This data, it says, is essential to examine the rationale used by the NYDFS in substantiating its regulatory proposal.

The foundation further points out that the NYDFS has failed to produce these materials. Despite an initial promise to publish by 20th October 2014, the NYDFS has since delayed the delivery of its research until December."

Source: http://www.coindesk.com/bitcoin-foundation-calls-access-research-behind-bitlicense/
NightWish jangseohee
Are you just going to keep spamming this in every chart you can find? Highly annoying!
Reply
jangseohee NightWish
Oops i don mean to spam
apologize for that :-)
-1 Reply
and what do you think about litecoin, it will follow btc or die ?
+1 Reply
NightWish ManHent
It will wait for reversal/uptrend confirmation from BTC, as long as it doesn't get that confirmation it will keep going down. I think we are VERY close to hitting the low on LTC (between 15 and 16CNY imo)
Reply
ManHent NightWish
thx, i think simillar
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4800 made me chuckle. I think were in for 500 but it will be a major resistance point.
+1 Reply
Interesting so far at least!
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"Finishing 2014 in a perfect 5-wave Elliot" - neither is this an Elliot wave at all (break of rule 3), nor do I have an idea why there would be an impulse wave down in what (looking at the rocket over there) you say is a dominant uptrend.

Just my two cents on this idea; stopped caring about anything non-technical in general and ideas suggesting if you are getting into an asset after a 1,165,000% increase you are still "early" in particular.
+3 Reply
Linking the dots.

Past:
- July 17th: Bitlicense announced. BearWhale dumps on all exchanges to confirm we're still in a bear trend. Bitlicense comment period is extended from 45 days to 90 days, the framework will be published on Oct 21.

- Oct 5th BearWhale reveals himself with a sell wall of 3K Bitcoin priced $300 generating a panic sell, he certainly hoarded Bitcoin on all exchanges. The volume is incredible! When the wall is down the price goes up. Many thinks this was the trend reversal (me included).

- Oct 8th the Blood Moon. If Bitcoin is a cult, the Blood Moon is its most important festivity. It will occur again in 2015 on apr-4 and sep-28.

- Oct 9th, US Commodity Futures Trading Commission held a meeting to discuss Bitcoin. The chairman ends the conference with "Bitcoin is here to stay", also they said Bitlicense will be ready sometime in December.

Present:
- oct 12th, the price is on a slight upslope directed to Oct 21 the day Bitlicense will be officially published.

Future:
- oct 21th, Bitlicense comment period is over. I like how the elliot wave in your analysis get at the top on this day, as to confirm that this trend is highly probable.

- dec 26th, we don't know the exact day that Bitlicense will be published, but assuming is around this time, after a new low I do believe the trend will be a defined bull trend, going to the moon.


In conclusion, your Elliot waves are falling all into place with the days of the events, so I do think that is possible that the trend will keep following those line, I actually couldn't be surprised if the trend will hit the time and the price you pointed out. I also believe that after testing a new bottom we'll be ready for a new bull trend, in fact 2015 as we discussed previously will be the year of the digital currencies.

Awesome analysis.
+1 Reply
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