yomofoV

yomofoV

from a long term perspective, im staying away from this stock. declining 30 week ema, i need to see consolidation for probably at least a few months to a year like what we see in the blue boxes. it's probably closer to the bottom than the top but that doesn't mean it will go up and stay up. dips are still making V bottoms and not W bottoms yet. also even if we...

yomofoV

i drew 2 fibonaccis with 2 different starting points. one beginning at the last time it touched the yllow long term trendline, at $12.82 the second fib beginning at the last time it touched the "new baby blue trendline", at $85. time will tell if the new blue trendline holds.

yomofoV

had the wrong fibonacci levels on previous charts. this time i drew fibs from wave 2 to wave 3 top in order to determine the retracements. OTE long $12.50 to $13.75

yomofoV

price broke below channel, then broke below previous support around $15, also went slightly below the 23% fib elliot wave analysis, wave 4 says we should retrace between $11.50 to $13

yomofoV

im still learning elliott wave. looks like a wave 4 retracement down to 38.1% to 50%. set buys around $13 or lower

yomofoV

there are a lot of bag holders above $500. we are very close to crossing the 1 week EMA. 10/21 parameters. that is something we have not done since the 2011 bubble.

yomofoV

multiple descending triangles, we will spend more time in the 500s

yomofoV

not much has changed since the last whale consolidation chart. Each time the manipulators to breakout upwards to rally higher, they fail lower. we could not break 1000, then failed at 900, this past weekend we failed to break 850. my previous chart: basically we had a bearish rising wedge that broke out upwards on 1/4/14 that ended up bring us even lower than...

yomofoV

this is channel i've found. it's a controlled sell off. of course this channel will eventually bounce at some support points that i haven't shown. i expect this channel to hold until at least 760s

yomofoV

i've been watching the 15 & 5 minute charts almost everyday to notice the patterns of whales. they tend to channel the price into a tight range before moving it up.starting around the 750s it was very obvious. they would keep a sell wall at 745, while maintaining an auto replenishing buy wall at 690. after a day or two the price would be moved up roughly $50. ...

yomofoV

mtgox (log chart) the drop probably wont be in one swoop but that is the downside i see.

yomofoV

possible shorting at 910. the green trend lines are now confirmed. within a week or less we should see action.

yomofoV

lines seem to be holding up

yomofoV

blue lines are support/resistance. green dashes are possible trendlines that have not been confirmed. ellipses are possible price targets. grey dashes are old broken trendlines. (note the suspiciously high volume that spike the price up everytime it's about to breakout to the downside.) i have a gut feeling that due to manipulation that we will see 5000 CNY.

yomofoV

i strongly believe there is heavy manipulation going on. that said, this house of cards will eventually collapse. the yellow circles are possible price targets for shorting. close out the shorts around $400 seems to be a good idea. reevaluate when the crash comes. green dashed line is not a confirmed trendline but a possible one.

yomofoV

these price movements look highly suspicious to me. it looks like price manipulation. brief periods of high volume buying right when the price is about ot break a trendline. so the price might be going up along a more gradual uptrend until it hits the 5000CNY resistance. there i expect a possible reversal.

yomofoV

why do i suspect there will be an upwards movement to bring us above the green and yellow trendlines within a few hours. this has happened on 12/26/13 and now. the patterns of buys makes me convinced of price manipulation. Remember, there are no incoming deposits of money on btcchina. update 12/29/13: it appears the manipulators failed to push the price above...

yomofoV

we will find out within a few hours or few days whether or not the price can bounce back above green trend line or break the yellow trend line. im pessimistic and have placed a short. we're bouncing a bit off of the 38.2% fibonacci line but that doesn't have much long term significance. note the triple top pattern as it approached the yellow trendline. we've...