BITSTAMP:BTCUSD   Bitcoin / Dollar
With so much bear talk in the market at the moment I thought it would be timely to illustrate how recent price movements, when correlated historically against time frames of previous price bubbles, are perhaps more bullish than ever.

It has come to my attention that those viewing this chart on low resolution monitors or mobile devices are not able to see this study across all 3 bubble formations. If this is the case please press the minus button (-) at the bottom of this chart, just above the time line, to zoom out to see all the detail. If this doesn't work, you can also try dragging the chart around with your mouse.

My primary objective with this chart is to display the coincidence on the 2 previous bubbles each having their technical bottom formations at exactly the half way mark between the corresponding bubbles 'Peak' & consequent 'Base Camp' just before starting the parabolic climb that signifies the beginning of the following bubble. When I apply this same formula to study the current bubble formation we are now trading in, I calculate it will be time to leave base camp to begin our long parabolic climb to the next peak on August 20th 2014.
one of the best charts.. thx for sharing...
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Nicely done
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My primary objective with this chart is to display the coincidence on the 2 previous bubbles each having their technical bottom formations at exactly the half way mark between the corresponding bubbles 'Peak' & consequent 'Base Camp' just before starting the parabolic climb that signifies the beginning of the following bubble. When I apply this same formula to study the current bubble formation we are now trading in, I calculate it will be time to leave base camp to begin our long parabolic climb to the next peak on August 20th 2014.
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It has come to my attention that those viewing this chart on low resolution monitors or mobile devices are not able to see this study across all 3 bubble formations. If this is the case please press the minus button (-) at the bottom of this chart, just above the time line, to zoom out to see all the detail. If this doesn't work, you can also try dragging the chart around with your mouse.
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Perhaps people forget that not every bitcoin bubble was longer than the one before. We might be in for a good wait. Since the MTGOX charts are not available anymore on TW have a look at this: http://i.imgur.com/sio5boE.png

I'm not saying this is exactly how it's gonna play out or that there is not a chance for bubble this year... I'm just starting to get tired of these two trendlines on Bitstamp log chart (no offense, I appreciate your input).

Moon, of course but couple of spins around orbit first (and then who knows, Saturn has many moons too:D)
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Since most long-term positive trend lines were broken awhile ago, this provides a basis for the formation of a new one that lines up perfectly with the upper boundary of the upward channel you drew. Very interesting, indeed. I think the fact that the bears are shouting so loud only strengthens this idea.
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HerSerenity MoonTrader
So, um, long-term support break = instant reversal below old support and formation of a new one? Doesn't make a lot of sense to me tbh. Also the reason bears like me are roaring is probably their shorts before anything else :P (350 BTC from $640 here)
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Emanance HerSerenity
Here is the data used to generate my longterm support line on my green red & purple chart at the top of this page to 'munkeefonix':
BTC Prehistoric v1

Bears still have a lot of work to do to get us below that :P
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MoonTrader HerSerenity
I'm saying that the long-term channel could still be in formation. Whereas before, we rested a long-term trendline on a single point and tried to line it up with everything that happened since, the top of the parallel channel could indicate where the long-term trend line actually is.

So the long-term trend lines of the past may not have been support at all, but pure myths, whereas we have yet to reach the real long-term trend line.
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HerSerenity MoonTrader
From what you're saying your not a technican and thus probably wrong here -- there's no thing like a potentially forming long-term channel, mythical bogus supports. Historic price movements defined a pretty solid fibo-channel and that's all we got,.

I have to agree that the "long-term" part of this trend line people are talking about is fishy, it's primarily based on a flash crash bottom, nothing long-term about it. There are only three real significant long-term trend lines, two of which are already broken. Following the historic pattern, it's now going for the last one:
Long-term trend lines + channel


As you can see from the channel, if we go any lower now, it's safe to assume it will drop a good deal more and, unless reversal finally happens, to hit the red line which would be the $360 double-bottom area.
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