Bitcoin Forum

https://i.imgur.com/d8jVVx3.png

A lot of people, me included, are saying that BTC is trending down and will crash.  But try reversing that chart...  It looks more flat to me.  I expected it to look like it was trending up after reversing it.

Thoughts?

I am starting to think that buying on support (236 - 238) is good...  Because it looks like it won't break.

I believe < ~245 is a strong buy.

people said the same about $250 "it won't go below that" and then again at $240 "this time it really won't go below that"
it's clear that we're currently not going to see it being stable above $300 this month.

We'll see...  I was one of those people who kept saying the support will break when everybody else said it won't break.  But right now it looks like it is starting to go sideways..

And you're right in your attitude that anything is possible.

So I just got the inspiration from the OP. Well, let's see what would happen if we tilted the chart about 40 degrees?

http://i567.photobucket.com/albums/ss112/sharpyzu/chart_zps24egmozy.jpg (http://s567.photobucket.com/user/sharpyzu/media/chart_zps24egmozy.jpg.html)

Wow, it looks like we're going to the moon!!!


*Not mocking the OP, just thought this would be fun*

Lol...  I had that coming.  ;D

Buy $245 and sell when it reach $300 good idea? I hope it doesn't drop below $200 like what happen few months back.

Yeah, the market has definitely been going sideways for a while now. I prefer volatility, but maybe we just have a lot of Buy support that wont break?

the market stability is really strong now, no one apparently want to dump under 240, ands sub 200 is a thing of the past

bitcoin is just waiting more money to be put in, we can only rise from now, seeing how 200 is a proven barrier

It can still go lower. But it really looks like 235$ is a level where strong support line is. Lack of volatility is odd... we are in 235$-270$ range for 20 days now. Bitcoin finaly stable?  :)

I think not, it's just that the support is strong but not strong enough to push the price upward. No one in the right mind who bought their coins for <$250 will sell at a loss. Also, from what I view it, hesitant investors think that the price could even go low to sub-$200 before considering to enter.

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Bitcoin seems to be undervalued at its current prices. Considering that a lot of money and attention has been pouring lately, $350-$450 is quite reasonable. But I guess the markets is that complicated to understand, that's why one could only speculate what would happen in the future.

Here we go folks.  Testing the support.

Let's see...

Ah, I see... We're at that time again where we're rotating our charts :D I don't really believe in sideways movement. A breakout/-down seems much more likely, I believe. Price is still resilient. At least we went down fighting, I guess...

Sometimes looking at something in reverse will give you the right perspective.

And the support is still looking good so far.

Not much interesting stuff happening right now, only a few dumps from time to time.

I think it will settle down at around $220 this month before making an attempt to go through $250 level.

It won't even go to 220.  This is going sideways I tell you.

I'd be all for more sideways movement. I think breaking out of a giant falling wedge is a good thing, but that doesn't happen that often, actually. But hey, let the price prove me wrong on this one :)

Hehe...  Still holding.  Cross your fingers.  :)

Wth are you seeing? I see an obvious uptrend with your upside down chart.

Only people that already sold think BTC will crash just to save face in case it actually happens. But the thing is, no, BTC will not crash, we'll have an slow ass uptrend until a random day the rally beggins.

Do I understand this right - the traders are waiting for it to hit 250 so they can do that they do. Holders are waiting for it to go under 200 to buy more and sideways = this is what's known as a Mexican standoff.   ;D