Quote from: zimmah on May 30, 2014, 01:05:48 PM

why the fuck did you wait for it to hit $600 before buying, while it was sitting on $420~$570 for weeks.

I bought in at $460, and out very prematurely at $520. I was asleep when Bitcoin broke through $540 which would have been my buy-in confirmation target had it not been 4am where I am, when the break out happened. I was in and out near top (at small profit) just before the correction to $550. I never held my $571 position because I had a dream of Bitcoin correcting to $500. A couple of days later we got to $550, which seems to be as low as it goes, for now.....I hope. But looking at the charts and the all the indicators I like/use, suggested to me that there was likely a bit more correcting to come. But when a 2K worth of orders hit Stamp out of knowhere, it kind of turns all those indicators on their heads.

Quote from: TERA on May 30, 2014, 01:12:55 PM

If this is in fact a rising wedge and breaks down, it would set the stage for this being a B wave of an ABC. (I am not betting on this though)

This is what I am/was betting on. If we are in a wave B, then it would be a Wave B correction from the $1160 - $340 crash. That would imply a typical $750 price target being met as a 50% Fib retracement.

However, for that to be the case, then the huge descending triangle from $1160 down to roughly $380-$400, would have to constitute a Wave A contrary to my previous EW attempt posted in oda.krell's thread, where my wave count breaches an EW rule. Are there many examples of a corrective Wave A, playing out as a triangle formation? If the triangle formation theory were to be dismissed, then Wave A would have to constitute a 3-3-3 zig-zag combination?