Post
Topic
Board Speculation
Re: Analysis never ends
by
masterluc
on 11/07/2015, 05:07:12 UTC
I didn't. I said probably. Downtrend in Bitcoin isn't parabolic. I can't say it's over until price leave trend channel plus some indicators to identify start of strong reversal.

It was by this way:
1. I identified big bullish wedge and according to it's typical count assumed there should be throw over the bottom line and it should be a bottom. Actually it was. I declared LONG at 270.
2. Once price left wedge to upside - there was no blow up action - just flat. I suggested that there should be other hints leaving downtrend and started to monitor logarithmic trend. Along with that there was a possibility for new lows.
3. Silence period was prolonged and I discovered weekly sma200 at ~210 which looked as massive resistance and not gonna surrender. So the further path should be probably up like in 2012.
4. Then was clear impulsive move up to logarithmic trend line and break of it. And I said I see the moon.
5. Today is last week day and price is above weekly upper bb. And I say now we sit at  Cape Canaveral in a rocket of Appolo mission of new moon discovery. Operator counts down.

Parabolic top may be identified more accurately. Because once it stops acceleration - it will crash. In 2013 ATH first (266) and second (1200) I saw clear signs of slowing down rise acceleration and said it's over. And it was over less than day. 50% crash was after.

TLDR: I can't identify a bottom in it's time. I can identify bottom after price already far from it. But I can identify parabolic top, while price in it.