Dislikedchonchy, Godspeed with your wife's condition and the social/employment conditions there where you are. BTC - it looks like a weekend rally is underway and once again PA went exactly the opposite from what I expected - I hope some of you took the opposite position to what I called from my analysis! Anyhow, if you missed that opportunity, here's the next one: As KiwiOz illustrated, the "gap" created by weekend trade tends to get closed in the subsequent trading week, which implies that we will see 830 again by maybe next Tuesday/Wednesday? Some insight:...Ignored
Same here Chonchy, lots of good wishes for the two of you
Venzen, I don't think you made a wrong call, this current pattern look very much the same as the previous one. We were expecting a lower low and it didn't happen, this time I had the same reading as you -again- your chart made more sens. And we should have had the low you were expecting. So it wasn't a wrong call, probably more a larger pattern that we haven't figure. I went long this time, but that was a roulette move based on nothing but past similitude and expectation that the thing I missed a month ago, was there again today.
May be have a look at the huobi chart on bitcoinwisdom, it's the one that made me do it, may be you can see better than me what that thing I'm missing is
Edit : I was playing around with the new drawing tool in bitcoinwisdom, and I kinda found out something interesting. Because the line are infinite and continue beyond the end of the pattern it drew this sort of net.
It's impossible to see which line is what, but those are from all the major triangle and diagonal we had in the past month.
What's interesting is the result on the 5min chart, some of the support line used to be resistance and the other way around (that I would call "S"), other are actual resistance and support (that I would call "T")
My first comment is about the density of the resistance lines and the larger spread of the support one.
My second is about crossings, When a "S" and a "T" line crosses on top of the channel there is a high. When any line converge at the bottom of the channel their is a Low and a reaction high will follow.
http://i.imgur.com/kJldd5E.png
All that is probably just a coincidence not worth looking into, but still I thought I'd share in case any of you have any comment on the idea.