the_batman

the_batman Oct 24, 2014

UPDATE(10/4): As of a few days ago, this analysis is no longer valid. Something happened out of step--an additional impulse wave that should not have happened. The impulse wave was timed with fresh rumors out of china. It might be just a fleeting occurrence (ie normal movement will resume) or it might be a prelude to something bigger. It's also possible this...

the_batman Oct 22, 2014

There's a lot of confusion in Bitcoin right now, but the reality is simple: there was a big Elliot wave downward, and now we're in the corrective phase of that wave. The Elliot wave is not a model or a tool -- it's a psychological phenomenon. It's the product of the behavior of a population of people reacting to an event (or series) and its unfolding. Therefore,...

the_batman Oct 21, 2014

UPDATE (10/23): We're currently in the final thrusts of the wave. Based on most recent sub-wave counts and some educated guessing, looks like the bottom will be $340-350. Could be as low as $330~. Praise be to the wave! (If you didn't know, we're in the corrective phase of the massive wave that brought us here from $620~.) The following chart lays out my...

the_batman Oct 19, 2014

Based on the on the one true god, the Elliot wave. ALL HAIL! Lot went into this chart. I've removed most of it because it would be an entirely unreadable mess. I've simplified it for the noob trader. Note: my time targets are a little fuzzy but close enough. EDIT: I think they may be off by a factor of days. Just pad em with a day or two and youll begood.

the_batman Oct 13, 2014

UPDATE: Pattern failure. Looks like market is currently in a wave 4, about to enter wave5. Alternative explanation would be bull pennant with a $10~ target. Good luck! The chart shows a butterfly pattern (purple), indicating a possible reversal. The pattern indicates the testing/re-testing of a critical support/resistance level. In this case, it's hitting against...

the_batman Oct 12, 2014

As of late, there's been some kind of consolidation pattern on the bitcoin chart. It looks like a lot of things (descending diagonal, triangle, descending triangle, measured move) but simultaneously doesn't quite "feel" like its any of them. The only thing that's for sure is that it's a consolidation formation (note the descending volume pattern). I offer one...

the_batman Oct 12, 2014

(NOTE: I've elaborated and clarified in this post: ) As of late, there's been some kind of consolidation pattern on the bitcoin chart. It looks like a lot of things (descending diagonal, triangle, descending triangle, measured move) but simultaneously doesn't quite "feel" like its any of them. The only thing that's for sure is that it's a consolidation formation...

the_batman Oct 8, 2014

The market has been moving towards it's short/medium term resistance levels. Recent volume and price action suggest that these resistance levels may be broken. Such would mean a sharp trend up toward the next major resistance level of $400. It's also entirely possible that these resistance levels will NOT be broken. For those of you that are newish traders:...