Quote from: MatTheCat on May 07, 2014, 11:05:24 PM

Quote from: Bazil240 on May 07, 2014, 10:39:38 PM

Lol! This made me laugh, just the way you said what you said.

Why do you consider it "high" risk? Do you think $430 is/was the bottom?

Go and learn some TA and you will know that $430 is very likely not the bottom for this wave down. All the commonly used indicators are spelling bad news ahead for Bitcoin long positions.

Go do some Trend Based Fib Retracements on the previous few drops ($1150 to $380; $995 to $400; $710 - $340) from top, to bottom, and back up the upper reach of the bounce. Notice how the following drop stopped at around 76% ($400), notice how the next drop stopped around 62% ($340). Now go and do a Trend Based Fib Retracement on the current down wave, from the bottom at $340, to the top at $548, and see where the 50% retracement line lands.......$360?

76% - 62% - 50% etc (being the fib retracement targets).

I would suggest that there will be a retest of $360 and probably a strong bounce around that price point, but that is not to say that $360 will be low, but certainly a target for a possible good short term long opportunity.

P.S. I could show you a chart of what I mean but it just looks like a bit of a fkn mess.

This has been discussed AD-NAUSEUM that crypto does not do TA very well because of a laundry list of reasons

You are living in a fools paradise if u are basing your crypto trading on TA IMHO

EDIT: I meant to say ONLY on TA