Quote from: Summerwalk on October 02, 2018, 07:06:29 AM

Quote from: Bigboygangmove on October 02, 2018, 06:59:00 AM

Quote from: kcufllaevol on October 02, 2018, 06:55:13 AM

this is the longest sideways movement I can remember. We have stabilized for at least the last three weeks. This descending wedge has to break soon, or am I missing something. I know stabilization is great, which would mean that more influx of money would bring prices up. This market has me scratching my head every day.

When each swing fails to obtain a profit greater than the fees involved, then trading will all but die. The price will then wander or drift slowly up or down with very little volume. When this "drifting" establishes a recognizable trend, then that will be interpreted as a breakout. Either up or down. At least that is the usual script. But hey, it's Bit[Suspicious link removed]d friggin' luck trying to predict it.

Didnt we have something very similar in 2014-15?

Triangles or wedges I indicate a "battle" between buyers and sellers to set a price. The buyers are selling the price down and the sellers are buying the price up. They are doing the opposite of what is usual. The buyers have lots of money but limited commodity. The sellers have lots of commodity but limited money. Hence, each side eventually runs out of ammunition to move the market to their desired price. This is common in many markets. But hey ... it's Bitcoin.