By reading the forum and some responses it sounds like a lot of people trade short term setups. I should note that by "swing" trading I mean setups on the 2 Hour/4 Hour that will become Daily/Weekly plays. In the regular markets that is the ~~only~~ best way to succeed. I do not see the 1 hour>below with Bitcoin being very effective for profitable trading. Disclaimer: I've still got "long term" positions since 2011. They are based on the Weekly.

Quote from: windjc on January 08, 2014, 11:50:17 PM

If the 5th wave was the retest of the highs, how are we still bullish?

Are we back to Wave #1?

Quote from: John999 on January 09, 2014, 01:03:45 AM

I don't really get your wave counts either.

That is because I don't count waves. Counting becomes too arbitrary. Elliot Wave Theory is just that. One should understand it's concepts but not trade based solely on it.

What we can all agree upon is that mid-October Bitcoin experienced a MAJOR trend. In December; a pullback. Price is now in the next wave of the trend.

Quote from: mskryxz on January 08, 2014, 11:53:38 PM

So the best time to buy looks like Thurs/Fri/Sat on average since they have a low probability of it closing up since 1/1/2013.

Thanks for the info and data, sir.

You're welcome. Let me caution you to be careful if you implement this probability. Remember those statistics are biased by the +6100% move.

Quote from: arepo on January 09, 2014, 01:26:23 AM

we're consolidating very bullishly in an ascending triangle formation just below $850 right now on stamp, and my calculations anticipate a breakout ~~within the next 18 hours, give or take~~ [edit: in 18 +/- 9 hours]. we still have a lot of volatility to work through after the panic selling we saw yesterday, so i'd be surprised if we stay within that range until Monday.

What's a panic? That's not really in my vocabulary. Tongue

I see a healthy pullback within the price action.

Quote from: damiano on January 09, 2014, 01:29:14 AM

Breakout up or down?

If price hits around $750; down to the next support.

Quote from: arepo on January 09, 2014, 01:31:29 AM

nothing's for sure, of course, but my money's on up.

edit: i phrased the timing incorrectly, so allow me to clarify. breakout in 18 +/- 9 hours.

of course, i do also see a possible larger consolidation pattern that would coincide with the OP's claim of staying within the range until about Monday, but my model is predicting something a little messier than that. Tongue

Glad we see the same. My trading strategies mix price and time and so I also think a consolidation is likely. That's what is great about trading; multiple strategies can tell the same story. \

I don't trade within consolidations so my plan is to stay OUT with my trading capital until I see a setup that I like.