BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I've been thinking on my latest prognosis and something couldn't let me go. I was wondering, whether my bullflag was a correct way of thinking.

I knew the triangle theory a bit, so I googled triangles and found this:

There are many ways to draw, what you want to see. But I know that the best ideas are usually the simplest ones. Here you are. Share your opinion.
My problem is that you so arbitrarily pivot the bottom of the triangle against the $339 low. Why not line it up with the other lows and make a bullish descending wedge?
+1 Reply
Why not a descending wedge?
You can draw a bearish triangle from 12/2013 - 04/2014, from 04/2013 - 07/2013, both times price broke upwards
ChartArt isma.topius
And both times the Bitcoin price was MUCH lower than today. People always ignore that is makes a difference if you trade something worth 3 Dollar, 30 Dollar, or 300 Dollar. Between 3 Dollar to 30 Dollar it looks more like play money. With 3 Dollar it's easy to hold 1 BTC. At 300 Dollar it's a serious investment. You could live for days/weeks from 300 Dollar. Or you can simply buy 1 BTC for the same amount of money.
-1 Reply
ChartArt ChartArt
And no... no one want's to hold 0.014835 BTC. People want to hold at least 1 BTC.
-2 Reply
Maddie ChartArt
if 0,014 BTC is about 300 dollar everyone want to hold it as an real investment. in a view years they would say. wow mann do you really own one BTC wow, such a big investment ;p
As a long hodler... I will know we have truly made it to the moon when people say... "Yeah... I got a couple hundred bits in the bank." They will be too poor to own 1 whole bitcoin. IMHO :-)
okidokie ;p
MoonTrader ChartArt
I think this round numbers thing is just a superstition. People are not all little children. If the entire BTC idea is going to work out, people will have to get used to decimals.
isma.topius ChartArt
Although your statement might be true, I believe there is no correlation at all between your statement and a bearish triangle.
Also, I encouter more and more websites using "Bits" instead of "Bitcoin";
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