Quote from: DPoS on December 19, 2013, 10:04:28 AM

Quote from: eggran on December 19, 2013, 09:52:59 AM

Quote from: NUFCrichard on December 19, 2013, 09:22:54 AM

Seems like a fairly randomly placed line to me. Bitcoin never falls below it and it is base on the 2 lowest points.
After the last boom, Bitcoin didn't touch your line. It could so easily be moved to $800.

that is a support line on a log chart. the fact that we are so far from it (like 400%-ish) is telling me it's overvalued.

i'm betting sometime in 2014 (like june/july) we'll skim it again

but this is all of course IMO. if i could predict the future i wouldn't be sharing it with anyone! haha, just looking for feedback, discussion, and ideas

TA needs stable parameters

if nothing changed in China we would of seen a slow retracement as the value would not sustain as new coins still being generated being a greater inflow than hot money.

any TA with bitcoin at this stage needs to explain what parameters it is being evaluated in. way too much political regulations still in play.

so.. what if the regulators take in bitcoin and redtape it to its liking? the crime and hidden money exit but the big boys get to play on the level and btc soars to $5000-8000 as the fancy new Gold 2.0.. then you might have some other alt coin take in the shady funds and life goes on that way.

or, the feds kill it since they want jpmorgan or whoever to run the new digital game... btc becomes akin to linden dollars and is still used by geeks, gamers and some small time oversea commerce... btc stays around $100 then

each of those scenarios can have their own TA charts

true. though i believe it will, in the longterm, go up.

http://www.ibtimes.com/worlds-biggest-bitcoin-wallet-owned-us-government-1514100

http://www.digitaltrends.com/cool-tech/bitcoin-google-search-trends-2013-trending-btc-bitcoin-exchange/

http://www.dispatch.com/content/stories/business/2013/11/29/bitcoin-price-heads-skyward-as-u-s--acknowledges-legality.html