Bitcoin about to Pop

[rainbow]

I predict it will either rise, fall or remain the same. Believe me.

There is a possibility that you may be correct.

[pErvinalia]

Exactly as predicted.
It will now either adopt a holding pattern between $8 000 and $6 000, or it will breakthrough on the upside or downside.

Bet you, I'm spot on again.

Your technical bullshit fu is strong...

[rainbow]

Exactly as predicted.
It will now either adopt a holding pattern between $8 000 and $6 000, or it will breakthrough on the upside or downside.

Bet you, I'm spot on again.

Your technical bullshit fu is strong...

A mere amateur...

For proper TechnoBollocks:

Notes: Bitcoin prices reversed sharply off the upper median-line parallel of a broad ascending pitchfork formation late-last year with last week’s break of a near-term consolidation pattern fueling further losses in the cryptocurrency. Price is now testing confluence slope support and while we could see a slight reprieve here near-term, the broader risk remains for a drop into the median-line. This feature converges on the August highs and 52-week moving average around 4980-5230.

Bottom line: IF price is going to rebound, this could be a good spot but the focus remains lower for now while below the 50-line around 10550s. From a trading standpoint, look for rallies off this mark to ultimately offer favorable short-entries targeting more meaningful support into the median-line. We’ll have to reassess from there.

https://www.dailyfx.com/forex/fundament ... in-MB.html

I couldn't've said it better m'self.

[pErvinalia]

What an amateur. There's a guy on steemit who earns thousands of dollars per day wibbling on about FRACTALS! Fucking fractals, man! You can't beat that.

This chart shows the fractals as had been presented before the the Head & Shoulders. However, note also the V-Neck reversals after each. The size of these V-Neck reversals also reduce and the most recent bull wick is the smallest. Having one more, much smaller repeat of this fractal would be ideal, as shown in below chart. It'll bring price proximity to the Apex closer.

[rainbow]

What an amateur. There's a guy on steemit who earns thousands of dollars per day wibbling on about FRACTALS! Fucking fractals, man! You can't beat that.

This chart shows the fractals as had been presented before the the Head & Shoulders. However, note also the V-Neck reversals after each. The size of these V-Neck reversals also reduce and the most recent bull wick is the smallest. Having one more, much smaller repeat of this fractal would be ideal, as shown in below chart. It'll bring price proximity to the Apex closer.

Nice, but what about Fibonacci Retracement?

Eh?

Without that you might as well be throwing darts at a board while blindfolded.

See?

[pErvinalia]

I don't listen to any technical analysis that doesn't include quantum mechanics..

[rainbow]

I don't listen to any technical analysis that doesn't include quantum mechanics..

Ah! A Bollinger Band groupie.

[rainbow]

Well as much as I hate to admit it, I was wrong.

Bitcoin didn't pop.

[pErvinalia]

It's still popping.

[PsychoSerenity]

Not available in my country yet. Don't know where it is available. Stupid fucking licencing laws. But I saw it on torrent. Some of the things that people will invest in to total values of billions that in many cases have literally no reason to be worth anything, add to that the pump and dump groups advertising as if deliberately manipulating markets for profit is a perfectly legitimate enterprise, - I've said it many times before, some people are making acquiring millions out of cryptocurrencies but the vast vast majority are losing or will lose most of what they put in.

[pErvinalia]

Yeah, it's the wild west in terms of regulation at this point. Ironically a fair number of people into this stuff are anarcho-capitalists who believe that regulations are socialist and nanny-statism and that an individual human is perfectly able to react with strength against mass market manipulation.

[mistermack]

Well as much as I hate to admit it, I was wrong.

Bitcoin didn't pop.

No need to be embarrassed. If you actually knew what bitcoin was going to do, you could be a billionaire withing weeks. Nobody knows. People take a gamble, that's all.

It's like any other commodity. Except that what you are trading is nothing physical, but purely public confidence in an idea.

But if you ever do find the secret of accurately predicting what the market will value it at, don't forget your online mates.

[rainbow]

But if you ever do find the secret of accurately predicting what the market will value it at, don't forget your online mates.

OK, so it will test the resistance level of $8000, and if it passes through this it will test the $6000 level.
If it breaks this it probably will go down further.

There you have it.

Cash in big!

[pErvinalia]

I think there's a bitcoin futures market. Put all your money on it busting (or at least going down significantly).

[rainbow]

I think there's a bitcoin futures market. Put all your money on it busting (or at least going down significantly).

Yes but if all the smart money is on it busting, the futures are heavily discounted. Which means you get lousy odds on that bet.