I didn't think about it like that before... There's a lot going on and I'm questioning my assumptions - trying to figure out why I was so strongly convinced of more downside. One of the main reasons is this: 1) If the decline was a triangle ABCDE, ...

Bitcoin technical analysis

i'm having a lot of technical problems posting tonight... Anyway, what i forgot to add in previous posts is that I believe the wave up is complete. With a shallow retrace and a new high, this idea will be invalidated, but what i expect to see now is ...

Bitcoin technical analysis

hi lady_luck, There is a BTCe chart missing from my previous post I' having trouble updating it - not sure if it's a Forex Factory bug or my internet connection, so i'll just post it here: image What's difficult to understand with this wave up is ...

Bitcoin technical analysis

of course PA can just reverse back up anywhere, but here are some charts (Bitstamp and BTCe) with Fibs and S&R lines Bitstamp Hourly: the signs were there all along - look where all the blue TLs intersect inside the pink circle! right below it is ...

Bitcoin technical analysis

That series of waves up was spectacular! lady_luck, your thoughts and mine are the same. By now that lower TL is being tested and it's debatable if drawing it from the base of the wave through the end of wave 2 is going to accurately catch the ...

Bitcoin technical analysis

breakout yes, but can we say "this is the rally"? if it was that simple, all traders would be rich! We've not even cleared the top of the previous wave up (which in this exhuberant moment must have been wave 1), so we need a few more confirmations ...

Bitcoin technical analysis

BTC-e H1 MACD divergence... Ouch! image

Bitcoin technical analysis

Keeping a cool head here is really difficult. The idea that BTC has started an advance of the century is so widespread and unanimous that I experience moments of seriously doubting anything to the contrary. Of course, that's just psychology and the ...

Bitcoin technical analysis

KO, i agree the ensuing downside will wipe out most of this wave up. This setup reminds me of Gold during October last year: There was that jagged descent followed by a blast up. I remember you nailed that target near 1360. Look how similar the wave ...

Bitcoin technical analysis

Yeah, thanks for this. We have to be flexible right now. Your count is exactly what's going on if this upmove is no longer part of the downtrend. What I'm assuming is this: we're either going up in a new rally to the moon or this is the last wave of ...

Bitcoin technical analysis

KO, thanks for your help with this... i'll keep trying. What I notice is that targets derived by Magnetic Lines mostly coincide with a Fib extension. One would expect this and what's great about applying ML is that it shows you which Fib is being ...

Bitcoin technical analysis

hi weti, which exchange are you trading on? If it's Bitstamp then the next target up is likely $520, but price is currently consolidating below 490 :/ edit: more upside is not guaranteed - price may be going down from here - it's an uncertain moment ...

Bitcoin technical analysis

BTCe 15min Reverse divergence implies one more high image

Bitcoin technical analysis

i agree

Bitcoin technical analysis

hi lady_luck, so Plan B has been executed and now for C If we keep our options open and consider this may also be a part of the advance then the current wave down should return to at most 440/450 and then make a new high above 500 - and it should ...

Bitcoin technical analysis

Bitstamp 4 hour chart We'll have to wait for KO to confirm I did these right. image

Bitcoin technical analysis

BTC-e H4 i didn't post this chart with it's Bitstamp companion chart earlier today - this one has labels which explains the current exhuberant upmove - correction confused for a rally... Indicators are overbought in every timeframe from 5min to ...

Bitcoin technical analysis

This PA is horrendous... to me it's defintely advance in a correction and will come crashing down even it it goes to $700 $580 $10,000, If BTC-e passes 455, then the immediate targets I can find by Fib extension of the first wave up since 5th May ...

Bitcoin technical analysis

emptymind, thanks for posting this

Bitcoin technical analysis

The bulls are in that great African river De Nial... image

Bitcoin technical analysis