Quote from: molecular on June 01, 2014, 09:24:21 AM

Quote from: MahaRamana on June 01, 2014, 05:20:34 AM

Quote from: F-bernanke on June 01, 2014, 04:53:33 AM

Quote from: seleme on June 01, 2014, 03:51:24 AM

That breakout chart looks crazy. Those green candles look like penis in erection phase Grin

Haha, I would say "overextended" but when you take a look at the november rally, Bitcoin don't care.
one more 3day green bar in this rally?

Why only one more ? Is it really going to rest before the 1000 resistance ?

To be honest I think it is going to rest. In fact I think we'll pause (go roughly sideways or even down slightly) around $800 for a couple of weeks once we've reached that price level, which might take us a while, too (less than current speed is quite possible and I wouldn't mind).

On what grounds?

Well, firstly: we've had a lot of traffic around $800 during January, pretty much the whole month of January, in fact. That needs to be worked off before we can go higher substantially. Some people who bought there will get out and transfer their coins to new buyers... takes time.

And secondly: the similarity to the April bubble aftermath. $800 is similar to the $130 level we meandered about in September '13 for a good month. How is it similar when clearly 130 is 50% of 266 whereas 800 is 68% of 1162 (notice the fib levels?). Well, after we've found a post-crash bottom on July 6th at around $60, we pretty much rallied for 2 months. I think the $380 low corresponds to that bottom. The bulls are getting increasingly relieved and the bears are closing (or are forced to close) their shorts and are getting back on board. Also increasingly (due to the rally itself), fresh blood starts to rush in (but not as hard as it will after we've started making new all-time-highs again, of course). As to why $800 and not $700? See my first point.

It's just a possible interpretation, but I think it's much more likely than simply shooting through $1000 and beyond in one go.

A couple of weeks? I doubt that. Days maybe, but week, no.