Re: rpietila Wall Observer - the Quality TA Thread ;)

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.... Wink

)

I hope you're prediction is on target, Risto. I have one last large buy to conduct next week and some even cheaper coins would sweeten the pot. Wink

It is not a troll, it is something that I just found in the charts. Count for yourself. If the pattern continues one moor week, it means that there'll be a capitulation crash this week. And then 7 weeks of going up, all the way to $650.

So my prediction is 650 in the end of June. The crash is optional. The trolls in the other thread did not want to hear the real meaning (as usual).

Chart showing all.

I don't want to say you're wrong and I certainly don't think you're trolling, but I still think it's rather unlikely we will see sub-400 prices again. But if we see sub-400 prices they will definitly no last long and like you said, by the end of May we will most likely be at least 500 and probably even 600+