I made one based on this chart. https://i.imgur.com/puQbjNs.png


http://www.timeanddate.com/countdown/generic?iso=20130511T20&p0=37&msg=Bitcoin+post-crash+triangle+closing


I set it to 7PM GMT, not sure how accurate that's going to be. If someone can find out a more exact time that'd be great. It's surely gonna happen in the evening of the 11th. (If it doesnt break out prior to that)

As a 'legit' autistic I don't think you know what that means.

+1

Couple of market sells. Someone wants some fiat. Ask wall getting tired of waiting.

is this the day all bears committed suicide at together?

The line to watch is the red line. This tells you if the bids are rising relative to the asks, and vice versa. Looking at that image it seems pretty stable with perhaps a very slight uptrend to bids recently

Not a trader, have a question.

I'm long-term bullish Bitcoin and have a nice 250 BTC sum purchased recently.  Enough for me, my family, my future family, my cat, and any potential future pets and or functional or lazy robots alike.

Wondering why so many seem to be expecting a drop in the coming days.  Not familiar with TA and learning a bit.  I understand the triangle and the convergence around the 11th.  What I don't get is why anyone would expect the price to drop, even in the near term leading to the 11th, given the following as I understand them:

-  The recent bullish move to 120+ was news of China getting priced in on spec
-  Those in China interested are slowly entering surely as they go through the traditional banking system to ultimately buy their coins (took me weeks...F U banks, all hail bitcoin)
-  The support levels of late are steadily increasing, and although ofc the resistance line is decreasing the hype is meeting the true value before we enter more hype potentially or nothing at all (ie maybe no crazy bullish movements but certainly no bearish ones if the interest in bitcoin is growing and vested interest in the market is growing)
-  Much of the money that exited during the crash is still in Gox, and likely re-entering as it seems like 100 is a thing of the past or at least it can reasonably look like it to anyone who isnt versed in trading but ready to get back in.
-  Lots of positive news as of late (vested interest growing in both public and private sectors)

Generally, I read so much about the potential exponential growth of BTC value, and sure I'm all for it, let's all be millionaires etc.  What I don't get, and again I'm not a trader so please help me wrap my head around this.  With exponential growth, will come more parabolic movements and thus convergences.  As hype cycles throughout the price, the support and resistance trends will continuously converge, but in a parabolic fashion, correct?  If so, why would we expect the price to ever go near 100 again considering the micro and macro stated above and more?

And on a somewhat separate note, with exponential gains, should come a parabolic exit line as well?  I mean, many aren't in it hoping that bitcoin takes over the world in 10 years.  Fair enough, many will spec, and have their expectations, limits etc.  Maybe some think $500/coin!!!!!! im out!  Perhaps some are waiting until $1000 etc.  My point is as the price increases exponentially, should we not see a parabolic move in the money exiting as price grows as well?  Thus hindering the arc degree the bullish movement and greatly reducing the potential for it to reach the 300k/coin or whatever levels that seem rather absurdly spread throughout the forum anytime soon?

An exception would be some sort of black swan event, where Paypal purchases 1 million coins for reserves, or a government decides to implement operation reserve currency = Bitcoin.  Barring those situations, which likely need to happen anyways for us to hit those types of valuations, and assuming a somewhat steady parabolic long-term move upwards, and given the above, why would we expect it to hit 100?

It could very well hit 100 in the next 2 minutes for all I know, just trying to reason through this to learn more.  This whole bitcoin experience has been very educational and learned a lot from this forum thank you.

P.S.  All hail bitcoin

You guys and gals are driving like this:



The excitement was in the past. That triangle completion will be a big "ho hum".


The market has absorbed all the recent investment and news, so the next 3 months may well be like the last three months of 2012. A gentle track with an upward bias, depending upon the success of the v0.8.1 deadline, and the conference this month too.