user100000
Long

expanding leading diagonal

BITSTAMP:BTCUSD   Bitcoin / Dollar
1797 39 4
today primary wave 4 was invalidated as a normal impulse wave as the market moves into primary wave 1 terriroty. the pattern looks like a large expanding leading diagonal that is the only pattern which makes sense to me, typically wave 5 ends just before touching the 1-3 trendline
wave 3 cannot be the shortest though, right?
And 2-3 (wave 3) here is by far the shortest of the 3 impulses?
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user100000 johnrfraser
check height of each wave. in an expanding diagonal wave 1 is shortest and wave 5 is bigger than 3
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johnrfraser user100000
thank you friend
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Are you sure? I start to think that we are fucked
+1 Reply
user100000 RamaDeda
that is my best guess because macd confirms wave 3 position is correct so im waiting for wave 5 to unfold
+1 Reply
RamaDeda user100000
The only Mac that I trust is MacGyver
+4 Reply
I've become convinced 2014 was a long Wave 2 correction from the November 2013 ATH. We are beginning Wave 3 after this capitulation today.
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hopium
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$850 in the end of the month? are you fucking kidding me... this is so wrong
+1 Reply
btcdrak HenrikLolsor
yeah, he's smoking something funny....
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would be pretty crazy if he turns out to be right though! :-)
+2 Reply
user100000 johnrfraser
backed up the truck today. couldn't resist the huge sale on bitcoins. thank YOU!
+2 Reply
MoonTrader user100000
Nice. We might make another low, though.
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Are you holding to this considering the pummeling we're getting today? We may even hit final support at 124 within the next day or two.
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user100000 rivet.popper
yes holding to 3K and will watch it carefully at that level. it is obvious it is an expanding diagonal. there is no other explanation. you will get a huge rally out of nowhere. it will be shocking
+1 Reply
oaksacorn user100000
This so called 4 wave is too far into 1. I think we had a 1 wave ending on high of 16.41 on 8/17/12; 3 wave ending at 179 on 4/11/13; 5 wave ending at 1163 on 11/30/14 and is the cycle 1 wave high. This diagonal from the highs is a larger 2 wave. We are now about to embark on the larger cycle 3 wave with a 5 wave structure inside it. Your original call of 99k was correct - the high of the cycle 3 wave. This being the case, 3K is chump change. Let me know your thoughts. Thanks.
+1 Reply
user100000 oaksacorn
if you look at the macd it is at its highest level near the ATH which usually indicates wave 3. that's why im expecting wave 5 to 3K. i hope you're right but it feels too similar to silver monthly chart (also an expanding diagonal)
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HenrikLolsor user100000
What's your opinion on the inflation? Do you think it even can reach those high prices when there's 3600 bitcoin generated daily?
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MoonTrader HenrikLolsor
3600 BTC generated daily? Where did you hear that?
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HenrikLolsor MoonTrader
yes, 3600 BTC are being mined by miners every day. You didn't know that???
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MoonTrader MoonTrader
I keep hearing 7200/day, which is twice as much as you're saying.
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HenrikLolsor MoonTrader
25 BTC is coming every 10 min, 25x6=150 150x24=3600

I'm starting to suspect if you even know what bitcoin is if you don't even know this?
-4 Reply
MoonTrader HenrikLolsor
Dude, seriously, quit the paranoid shit.
+1 Reply
HenrikLolsor MoonTrader
Sure. Lost a lot of money and fear that I will lose the lot that is left. I'm holding right now though, looking to sell around $250. But i'm just saying that pretty much everybody who touched bitcoin know that there is 25 btc being spit out each 10 min
-2 Reply
MoonTrader HenrikLolsor
So you're just lashing out because you're not very good at trading? I'm saying I don't care what other people know. I know enough to be making some serious coin right now.
+2 Reply
In his defense, this is very common knowledge and you challenged him on it. "Where did you hear that"... as if he was talking about some rumor.

Just an objective opinion.
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Maddie HenrikLolsor
Who cares?!?
there is still no deflation and same inflation where moon trader was talking about.
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HenrikLolsor MoonTrader
just saying that i thought you knew, no offence
-1 Reply
MoonTrader HenrikLolsor
No harm done.
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HenrikLolsor MoonTrader
Anyway, you think a price of $5k can even be reached (and sustained for a short time of course) when, at that point, $18 million of bitcoin is being mined ever day?
-1 Reply
MoonTrader HenrikLolsor
I don't see why not. That has no bearing on the TA, though. It's just fundamentals.
+3 Reply
Maddie MoonTrader
Totally agree on this. Winklesvoss bro's are pushig the price downwards when the ETF starts running we'll go sky high again. already 33 people signed in with a total value of 1bil. Hello good old prices
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Hi Maddie, do you know when the launch date is? I thought they'd launched it already??
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Why would the Winklevi push the price down for the ETF? What purpose does it serve?
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user100000 HenrikLolsor
bitcoin is hoarded just like gold. there is no activity in most bitcoin addresses. bitcoins lie still. it's used as an insurance against instability and as store of value. 2015 will be unpleasant
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user100000 user100000
unpleasant for anything that isn't gold, silver, bitcoin
+1 Reply
rivet.popper oaksacorn
Agreed Oaksacorn. We are starting supercycle wave 3 after this dump. I dunno about 100k per coin but I do know wave 3's are what traders wait their whole lives for, because they go to incredible heights for so long.
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When does this idea get invalidated?
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user100000 MoonTrader
market has to move below 45 for invalidation of this idea
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