Quote from: Fakhoury on August 23, 2015, 07:33:00 PM

Quote from: Afrikoin on August 23, 2015, 07:17:20 PM

ICYMI

[img]http://i.imgur.com/DwnwmkI.png?1[img]

Do you still believe in it ? and why ?

I just put it up here. I've said it here before that the fact that this chart exists and everyone can see what is 'about to happen' means it will most likely not play out in a similar fashion. it is much too obvious and this is information that is already priced in. I would be very very surprised if this pattern repeated itself.

I was watching Jeffrey Tucker speak at the Australian Bitcoin conference. very good talk btw. Anyway, he said price goes up, drops to half, then goes up again, repeatedly.

It is my opinion that this pattern is now stale, and might be time to ruffle some feathers and pull an unexpected pattern event that will catch many off guard. Falling to $125 might be a start

my 2 cents.

*edit

Also, ive seen many say price trend past 20 months has been slower than years before. partly due to more participants, infrastructure and financial products. Already, if you look at both charts, this should maybe account for twice or even 3ice the rate in 2012/2013. So perhaps a VERY long flat period, OR, some bumps along the way before X2 or X3 speed settles in.

**edit

i also have biases from MACRO stuff from Martin Armstrong's thread on global capital flows, private assets, gold etc. Basically, BTC will rise well with other asset classes in its category when major global markets start exhibiting weakness.

***edit

As well as a couple of EW analysts that i keenly follow.