Bitcoin Forum

Well we already passed on in linear... Passing it on log would be huge if it happened.

More hacks more dumps shame :(

We were supposed to step into bull market in last month, but the expectation ended up with a crash from 300$, everything is unpredictable, but I'm negative now.

There is too much investment in Bitcoin, it is a matter of time until a break-out occurs.
Then we can have all the same technical analysis showing that is fits a pattern perfectly!

I think the price is crazily low at the moment, it is easier and easier to invest, stock markets are peaking, bonds yield nothing, money will come to bitcoin and the price will rise. I predict $400 by July

I think price will go below $200 again.

@OP: there is still more room for further horizontal move in the chart and that is what will happen, imo. More of sidewards and indecision for another month.

Do you mean just touch it or actually breach it?  :P

i think cross it means go over it. also i dont think it will happen as bitcoin bounces for a while now so it will bounce down again

+1  :)

Wary, are you using a linear or log chart with straight lines?

According to my log chart, we already broke the down trend.

https://i.imgur.com/9rrjcml.jpg

everytime it look like it is going up an exchange or bitcoin related service gets hacked and we're going down again.
i hope this time it will go up with no drama.

people somehow got more immune to such news recently, and now it takes quite a lot of stolen Bitcoins to actually see the negative influence on the charts.
That is the positive part of the news. We seem to be reversing the down trend from the last year and negative news are not making so much harm, atm.
But, if there is a lot of news about hacked exchanges we may in the end exceed the critical mass after which the price will start falling again. 

I think what we've been seeing lately are a few speculative bounces on the way down and there's nothing to suggest that it's bottomed out or about to change direction any time soon as far as I'm concerned.

We did touch our toe into the bull market but someone decided to steal a bitcoins and people got scared and turned it back to what it was before, the good thing you could see it was trying before that. I am also a little on the negative side of speculation because that is all i have seen since getting here, the price down down down down. Who knows where  now.

at this rate of price correction, i think not, we need more time for that, maybe before summer, but right now is still to premature

anyway from your chart it appear that we have already crossed it(the green spike), so do you mean permanently?

clear your lines and look again  :D

These are lines drawn on linear scale while the chart is in log scale.

Lines in linear scale don't mean much.

Ok  :P

I don't think we will cross it then  :P

Shorts have increased quite a bit over the past few days.  I think a drop is coming

You are short though, damiano.

Remember, you closed your long yesterday at a lower level than this? :)

the longer we do not establish a new low, the more solid looks the last one. So far we have been doing pretty good at reversing the last year's down trend. I don't know why people expect exponential rise to start immediately after? Can someone explain that to me?
We are in the healthy trend reversal, not more and not less. And after couple more months we may see how it goes further.

Log chart, log lines, bitstamp, 3d. But I assume you're joking :)

will will smash through that in a glorious sideways movement

Could be if a couple of good news stack one upon each other. I'd prefer around June though.

Oh well, we could bounce off of it one, two, or a couple more times, I guess. But I believe we will break out, eventually!

I think we will first bounce down off the 2014 down-trend line (the red arrow) and then find the support in the bottom bound of the 2015 up-trend channel you depicted.
That seems to me the roadmap for the next 1-2 months.
More sideways ahead, I think.

Long was closed on futures which had a higher spike than bitfinex  ;)

It's highly important that we don't make lower and lower lows while doing that. Our current support lines seem to be pretty stable, which is pretty good. We're still not "safe", though!

Moon time ba-by.

Well I was full of optimism when the price suddenly went up to 255 yesterday but it didn't hang on to its position for long and it made a quick pullback to where it is right now at 245. Anyway, we just have to wait and see. Trying to predict the movement will only end up in disappointment.

We going 1000 by the end of the year, get with the program my friends.

You actually realize that we're just about to bounce off of that support line, right? We're not out of any reasonable channel as of now. The moon is still on track.

https://i.imgur.com/2kp8LbA.png

LIN vs. LOG is part of the uncertainty we are in atm. best to position oneself for both possible outcomes.

I don't see it happening in April however I do think the breakout will come later this year. Even after that may not be heading straight to the moon though. Patience is required. Accumulate and hodl now then go away and do other things for a couple of years.

Maybe the breakout could look something like this.

https://www.tradingview.com/x/BpdFodnj/

1000 cny ? Oh yeah!

Op trendlines too optimistic and more importantly, ignores too many data points.

Here's a model showing exponential decay:

https://i.imgur.com/3CVxKmG.png

If we're not trading below 200 in September, then we're out of the bear market  ;)

personally we can make it out of the bear market alive, bears are loosing their grip :D

I'd totally be fine if our first stop was that upper channel you drew there. It's make-or-break time right now. Still optimistic, though! Never give up, never surrender!

Yeah, that's what I was thinking, as well. It looks like dumps don't really cause that much of a panic anymore, like in February, and the long-term support line holds for now.

you are joking but if china come again in play like they did in the 1200 peak, it could rise really fast to 1k again, bear line will be broken in no time


because fish are out of the game, with only bears/whales remained you can't really trick that easy their mind, their are not panic seller

you must have bought yourself a huge load of coins if you think it will go up 400% from current price. but i'm 99% sure that you haven't.

Enjoy the ride :D Hope you're short on the euro too  ::)

There was a bit of a panic with the dump yesterday but there was really good support.
Bears were rejoicing but in the end it was all a bit pathetic.
I think we could climb out of the bear market around June.
They just don't seem to be able to cause much damage lately.

The only positive thing I can take from all these dumps is that their volume is going down with every dump - which is a good sign. But We're still in doom & gloom mode, if you ask me...

I agree unfortunately.
There's nowhere near enough big money or new investors pumping in.

No, the dumping is just merely caused by the possibility of shorting, actually. Once we've found the true bottom or leave the long-term downtrend, we'll go up again. Bears will turn to bulls!

I think we will cross the bear line in 2015. I dont know for sure, but if we do, i dont think we will for long. However, i could be completely wrong.

Very concrete analysis.

https://pitchenginelive.blob.core.windows.net/dev/2d4b263e-c5f8-420a-bfb3-3dad04c10b20/3a128c28-0a38-4c9f-8c44-556ba729d156.JPG

and will stay there for a while

Miniscule volume and repeated failed attemps at 300 speaks against this, but alas, if I am wrong shame on me, breakout is plausible (if unlikely at this moment).

That's like "ways to store wealth before Bitcoin was invented" / "ways to store wealth after Bitcoin was invented".