While everyone is complaining about the , I still see a potential growth. The red is broken but in my opinion it don't have to be a bad signal if the past repeats. The bubble in the beginning of 2013 follows almost the same patter as the bubble from October of 2013 . In September of 2013 the red was (also) broken very bad. The good news is that it was just a few weeks before the start of a big rally. Lots of things of these patterns are in common. If we assume that the future will repeat, there could be a big change that is about tot start a big rally in August.
All the good news so far hasn't had any effect on the price. There has to be a lot of good news in order to bring the price to a new ATH . In my opinion there is no need to worry if stays above 550. I think it's just a moment of time before the price breaks above 638.
Have a nice day guys!
I'm sorry I just saw that the colors of the right fib are upside down!
Hope this won't confuse you!
I'm such a beginner, don't be upset please :)
There may be rally, but we need to have something to push us up high enough. In the next few weeks I can decide if there is going to be any rally based upon what happens. Remaining below 700 would be cautionary for the bulls. Just playing the waiting game right now.
But here's the thing, I really don't care what you "technical traders" think. Because you are WRONG. This is NOT a currency, and it is NOT a commodity.
Every time you apply your "theories" to it, you might as well flip a coin. There are no NATURAL movements in BTC, because it's almost 80% artificial trading. Once again, I am trying to get you guys to understand this, >I< work for the exchanges the bots are trading on. I know what volume is traded, by algorithm. The only patterns that will suss out, are algorithmically traded patterns and by the time you notice them, you can't move on them.
As far as studying, you live in a vacuum. BTC doesn't.
"Study" this: http://en.wikipedia.org/wiki/Pilot-induced_oscillation << that is what you see in your technicals. Computers making corrections that humans trade on.
And as far as credibility... the people in the cryptocurrency realm know my name, they don't know yours. How do I know? I asked them. See, simple.
But you are welcome to your opinion -=)
API's are automated trading portals for bots.... just ONE WHALE dumping on BTC and you'll have 1000 bots triggering a hellish apocalypse of sales.
So, all of you "technicals" followers... lol. You are essentially a bacterium on unwashed hands. The soap is coming.
Indeed, this market is full of bots and to me it's looking too "mechanical" in short term and intraday timeframes. But I would say the the Elliott Wave theory on long term timeframes works pretty good here and actually my EW counts have exactly the price target mentioned by you.
And after reading your comments now I feel even safer with my shorts. Thank you and good luck! :)
That's fine... the wonderful thing about my claim is... I can produce all the proof I need to make your "I'm literally calling you a liar" be exactly like the childish kindergarten schoolyard taunt it is.
Send 2BTC to 1MArTiANHrgNt9Z1zZ8tboqVC5RwTCVd88 (You have a vanity address too right?) and I'll have a NicoCoin, or whatever you want it to be called... tomorrow morning at this time. I'd typically get it done sooner, but this is short notice.
Any combo PoW, PoS you want, any algo you want. Any block reward you want. Heck want me to start it as PoW then premine it for you and fork to PoS? I can, I have a rather large scrypt mining farm, in the hundreds of MH/s. Want an electrum wallet for it? Market and exchange to go with it? Any idea for a halflife or anti-deflation measures?
Do you know what any of that terminology means? Do you need to do some reading?
Why should you pay for it? Well, that's the going rate and I am doing work afterall.
Can't afford the 2BTC? Then maybe you should shut up da eff up...
Because anyone that has done technicals for 13 years and doesn't have 2BTC to piss away to prove a point, is pretty lame. And if you don't have 2BTC lying around, you obviously don't know crap about technicals on BTC either. If you didn't make 2BTC on the Marshalls sale alone, you aren't worth the bytes you are leaving behind on this forum.
Bitcoin is not stocks and it's not Forex... so the length of time, anyone has been doing ANYTHING worthwhile with BTC is... just a few months longer than a year.
Anyone that claims any knowledge of what Bitcoin will do, that extends any further than a few months... might as well have one of those neon signs that says psychic and go hang it in Malibu.
Because there is absolutely NO trend you can point to in Bitcoin. It hasn't been around long enough to create anything of a trend. Any time frame picked out of the lifespan of BTC is punctuated by news movement that will entirely disrupt discovery of a natural cycle.
The one big difference I see in doing TA in any other market is time frame. They move SO much slower than Bitcoin. Bitcoin moves about what normal stocks move in a matter of months.
When you come to Bitcoin you don't suddenly toss out 13 years of experience and tools. For example, looking for trends, using Fib levels, or finding Elliott Waves.
The trends are rather new in Bitcoin, but it doesn't make them any less reliable. But again, as in normal stock markets new IPOs like Twitter have a base trend they start in. At some point they change. ALL markets are dynamic. Nothing will ever have the same trend today as it did yesterday.
What it all comes down to is if you are making money off your TA or not. Bitcoin is not different in regards to cycles to just about anything in life. They are often easy to see when you look hard enough. Bitcoin just happens to be unique in that about every cycle so far has beaten the last by a dramatic %. Other stocks I've seen have the cycles, but generally don't have exponential growth up. They may go down and the peak will still occur at some point.
< historical price trends show nothing new/exciting coming.