Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I predict a crash to $300-$350 in 7 days.
Based on the remarkable similarities in these 2 charts:
Double bottom at $2 in 2011.
Our progress so far in the bottoming process.
Somebody with more visual tools could clarify and present the case. I will have to explain:
2011:
- 3 RED weeks ending with a flashcrash to $4
- 2 GREEN weeks recovery
- 4 RED weeks ending in a flashcrash to $2
- GREEN-RED-GREEN pattern in recovery
- another flashcrash to $2.
2014:
- 4 RED weeks ending with a flashcrash to $400
- 2 GREEN weeks recovery
- 4 RED weeks ending in a flashcrash to $340
- GREEN-2 REDS-GREEN pattern in recovery
- ?
(to be found out in 7 days....
)
Based on the remarkable similarities in these 2 charts:
Double bottom at $2 in 2011.
Our progress so far in the bottoming process.
Somebody with more visual tools could clarify and present the case. I will have to explain:
2011:
- 3 RED weeks ending with a flashcrash to $4
- 2 GREEN weeks recovery
- 4 RED weeks ending in a flashcrash to $2
- GREEN-RED-GREEN pattern in recovery
- another flashcrash to $2.
2014:
- 4 RED weeks ending with a flashcrash to $400
- 2 GREEN weeks recovery
- 4 RED weeks ending in a flashcrash to $340
- GREEN-2 REDS-GREEN pattern in recovery
- ?
(to be found out in 7 days....
)I'd like to bet against your call, interested?
He doesn't bet anything straight forward. You would have to give him odds, and even then good luck with clarifying whatever it is that the bet is supposed to be. Also, he will NOT bet for any less than 50BTC to make it worth his time.
Never mind. I don't have time for this.
Also this is getting stupid. I expected a little bit interest at least.
This chart shows that the double bottom turns to an uptrend that will take us to the price level prevalent before the first flashcrash (in 2014's case 650, prior to dipping to 400 in 2014-2-25). This will happen slowly but steadily during 7 weeks.
TL; DR: We are at 650 in the beginning of July, 2014.