BTCe - if this is a double top then the downside target is 530 as per KO's corresponding magnetic line target. If it's the end of wave 3 then wave 5 targets to the upside are 680, 720 and 745 - I derived these from fib projections off the first wave ...

Bitcoin technical analysis

ah yes... the eternal Euro triangle - kind of like a Rorshack Pattern - look at it a certain way and it's a bullish flag promising the moon - look in another way and it's a three drive into oblivion.

Bitcoin technical analysis

L_L, I like those pattern thingy's - that and mag lines might the best tools we have during the advance This is only a tame advance - but I can't count it. Imagine when it goes parabolic! I try, but it doesn't help - there is always a degree left ...

Bitcoin technical analysis

KO, we have to consider both directions of trend. Right now its ambivalent - well, to some. Considering everything - our analysis here, analysis "out there" and the market's overall bullish sentiment - we have a strong case for relentless advance. ...

Bitcoin technical analysis

printing now

Bitcoin technical analysis

Come to think about it... we're missing the short squeeze before price goes down with conviction. So the B wave - whether from current levels or from lower down - will make a good arena for shorts to get stretched and for the bulls to pile into a ...

Bitcoin technical analysis

hi lady_luck, I agree with KO, the market seems preoccupied with the longterm trendline (from Now & Jan tops) that cuts through 620 (BTCe) and a return to 645, while a reasonable Fib target, just seems too "maybe" right now. I can't be sure but i'd ...

Bitcoin technical analysis

KO, you're welcome. This matter prompted me to revisit the previous correction and I can see a similarity between this time and last time. There are 2 differences: 1) the current correction has clear channel boundaries and has lasted longer than the ...

Bitcoin technical analysis

Yes! There is an additional thing - i quote from the EW Principle textbook (p41): Specific corrective patterns fall into 3 main categories: Zigzag (5-3-5; includes three types: single, double and triple); Flat (3-3-5; includes three types: regular, ...

Bitcoin technical analysis

KO, other than agreeing with you, this is a good piece of analysis and states a case for both directions. Things certainly are ambivalent. emptymind is right, the larger count going down should strictly be ABCDE - because a larger correction is ...

Bitcoin technical analysis

That's nice but it's not possible in my opinion. All the cryptomoneys will take profit and become millionaires and plague the earth. Additionally, the entire Bitcoin ecosystem will get crushed under it's own weight. Supply and demand have the effect ...

Bitcoin technical analysis

Will he dive? will he jump?

Bitcoin technical analysis

BTCChina breaking trendline - same with the others, but it doesn't necessarily mean its anything different from last time... yet image

Bitcoin technical analysis

saw your post after i submitted mine agreed - and see the overlap - hoping wave b will take its time as the market deals with what just happened. see you tomorrow!

Bitcoin technical analysis

could be this correction was a wave 4 and the A wave of the next (bigger) wave up is forming now. The subsequent B wave will take longer to unfold so I'm going to grab some sleep right here. Good night all.

Bitcoin technical analysis

Bitfinex: a quick KO magnetic line scetch shows 600 as a primary target and then (based on S&R) 550-560 ?

Bitcoin technical analysis

yeah, you know how these long advancing waves go here at the "end" - wherever you think "surely that was the last wave" - you can add another 5 smaller ones! Even a retracement here could just be setting up the next set of smaller degree 5 waves up, ...

Bitcoin technical analysis

agree on all counts and targets. some analysts, i think Tai Zen and prof.dr.escobar were discussing NXT this morning and mentioning the same things you just did, Good Luck with that rally - I have to sit it out and hope Execoin does something now ...

Bitcoin technical analysis

i saw a chart on TradingView this morning where the analyst showed the similarity between this rise and the July 2013 low - the wave up from 60ish had gone to exactly the height of the previous high which will be 717ish Finex and 700 BTCe. That will ...

Bitcoin technical analysis

L_L, hot and then rain all afternoon - cooling everything down - and my electricity held. I think we have the ending of this amazing wave putting in at smaller and smaller degrees. The last 4-5 days' action from 550 (on Bitfinex because thats the ...

Bitcoin technical analysis