Bitcoin Forum

Widespread euphoria.

Multiple failures to stay above 300.

We're going up eventually, but it's time to be patient.   

I would conclude not enough Euphoria to keep the price above 300 ... time to pour more money into it to add more euphoria??


side note Haven't we heard of this before oh right its a heroin addiction forgot about that..

Potential bear trap.....  Perfect timing for one..

Greece "keeps in the Euro".. what a joke.

Smash the price down and get short sells back into shorting, trigger your trap... sell on the high.


ALTHOUGH:  I think we wil go down and steady out around 230-260

1) no double top formation on the chart.

2) borrowing has been at these levels or higher for weeks

3) the price is rising and still up 24% in the last 30 days after the manipulative correction.

4) shorts are back to levels not seen for months because for the last 6 weeks the price has wiped most of then out repeatedly.

We could drop lower but right now we are just shy of 290. All bear trend lines are history. We in fact put in a higher high yesterday and a new yearly high. But sure run for your life and sell sell sell!!!

1) Jan 25 Coinbase pump hit 315
2) Which is why I think we are going to prices that predate the past few weeks (i.e. 250)
3) See #2
4) And the same can happen to current longs.

A double top isn't just two tops that are near each other, they are consecutive highs. Not only that but yesterday was clearly a higher high and new high for the year.

Yeah the long position is large. But it is almost entirely in the green and never capitulated even at 160. Never say never, but if you are pinning your hopes on a margin call that never came at 219, why do you think that is likely at 288? :)

Technicals for the first time in 18/12 look good..

Whether it was strictly a "double top" or not, it was a failure to stay above a key level.

When we go above 300 on low volume and high leverage, it's non-commital. Until we do it with volume, I will always be preparing for breakdown.  

Exactly.  A fragile run up is not what we need.  Those are ALWAYS follows by dumps/crashes.  If you are a whale and know when to get in and out you're fine.  But the latest run up was pure speculation, no real demand behind it.

Yes. We're not ready for $300. How many rejections do people need to see before they understand that? Let the ecosystem develop a bit more.

as long as people are invested in bitcoin they like to have certain fantasies about the price going through the roof. they forget to be realistic and look at the current market.

Yes, We do need more legitimate companies and establishment to accept bitcoins as a mode of payment.

It needs more adoption and such

do you think the uprise will be long?

Well we are obviously going down. The mean still looks positive on 3d at bitcoinwisdom but anything closer and the mean has been broken. No one knows what happen next. I welcome a new period of 240-280 so I can buy more cheap coins.

I think that with some really bad news, such as a major exchange collapsing, we can retest low 200s or sub 200s. We strongly rejected 150s last time. What I would like to see is a strong, high volume rejection of 170-200. Then we could definitively say that the floor is moving up and that the ecosystem is growing. Based on multiple failures to stay above 300, I don't see us staying over 300 until next year.

sometime, Lakebtc price would higher $1-3 than Bitfinex, but most of the time their prices are similar, lakebtc is 317 when bitfinex is 315 at those days/

don't know, but will take long to revert the bear market and won't be without resistance.

The market inertia is too big right now to quick moves

this up and down trend will continue probably this entire year. can't see anything change it unless there is major news shaking up things.