Bitcoin Forum

The picture is VERY clear where Bitcoin is headed, it had multiple failed highs in the recent weeks and broke thru the $400 support. No support in the way until $300.



http://i65.tinypic.com/20j2yv7.jpg

See what happens at $400, if it breaks out of $400 then it might be wise to short at the trendline instead.


http://i64.tinypic.com/2ir3rbo.jpg

If it was that easy, then people would all become a millionaire in a very short time. I can't see the price go to $300 as the panic is over. People now realize that what they did was stupid and are now buying back. And if it happens to go down that far, then I'll day trade during that period.

Basically wait and see what happens when price approaches those areas. If it engulfs those areas then ignore this analysis but the thousands of Bitcoins traders around the world are looking at exactly that.

This can take up to 6 months to mature, that's a half-week chart. Need to be patient.

This is indeed the possible picture that could come true someday but I doubt it would be that much low ($300) as at maximum I think $350 is the basis of it's lowest possible value and by time this only grows and not the other way around and profits would only be for those who buy and sell large amount and not for normal people who do it in smaller scale.

I'm not being bearish on BTC, as a miner I want it to go up, I am just saying that in the short/medium term it will probably go down towards the $300 before going up towards the $500-$1,000,000.

The possible fork might drive the price back down. If it happens and gets messy it could go quite low. In February the next MtGox creditors meeting takes place, and there might finally be some news about what's going to happen to all the MtGox coins. If they get sold so the creditors can be paid back in fiat it could also rive the price down.

Agree completely. Have no any kind of reason (at least now) that bitcoin go to that price (300 us dollar). The first weak signs of the last two days give hopes that the bad is gone and it "think" to begin again the stabilization. Personally not only have not sold no one satoshi but have bought continuously almost every day (when had money) during all this period to continue my plans of investments with it. Actually have few thousand of satoshi at my wallet but much more bitcoin invested on other places where are making their "mission": multiplication of themselves or converted in products which will give much more in the future (if my plans will be fulfilled; if not all, the most, for sure.)

Entering a partial short position right here, probably way too early.

Adding more to my short, average position is $415 right now. Alot of sellers in this  $420 area, but might still head to the trendline.

Top traders on the site that I subscribe to are all now short...they got in at $435 (OKCoin 3 Months Futurues), based on PoC, Fib retraces.

I will no doubt go short based on a double top, and then just before Bitcoin corrects, get Stop Called out of my position on one final FU move, b4 'they' take it down back to the slaghterhouse, with all the little piggies still on board, all oinking for $500 Bitcoin.


Question is, where did you place your Stop?

Probs right above $428?

Probs at $430, just like everyone else?

On the crash, I bought BTC at $366. Placed Stop at $354.95, safely below the $357 bottom........guess what happened going through the London Kill Zone?

LKZ coming up right now....

I think I will be hunting a Stop Triggering FU move for a Stop Entry.........Bitcoin on the margin exchanges will probs see a jump to $435.

I hope that bitcoin is not going down again, well I am just okay if the price is more than 500 before the halving.
Is a great speculation, but is just better if bitcoin just go up and up this year and not going down.

Oh well I am still try to collect more bitcoins before the halving happens.

I think that the price will stay somewhere around 420$ and rise after the halving.

The moment a chart goes public even if that is the most accurate chart on Earth, that's the moment in which it fails.
However, I see your chart differently. What you said is well over now: it should have been done after Hearn's article.

Better to observe than to predict.

IF the $428 high fails to break then I will add more shorts.

These rise and falls are irrelevant to me really. I'm just collecting more bitcoin until bitcoin will reach around $1000, that's when things will get interested for me.
Until then I will be holding whatever I have and try to earn more in the mean time.

A better strategy might be, WHEN the $428 high breaks, add more shorts......take a look at the FU $352 low as a cue to how 'they' might drive BTC here.

I don't think we will be seeing 300 again any time soon, if ever.

The best thing to do is HODL until after the halving at least.

IF it breaks, I will be looking for weakness near the trendline. If the trendline breaks and if closes above those recent highs, I will look to get out.

Yes it will either go to $350 or $300, $300 is better support.

I wish you were correct but the daily chart tells me $300 is more likely then $500 at the moment.

The give-away was the recent failed highs and lower lows.

People were also not expecting to see the price fall below $400 anymore this year, but it still happened. Anything can happen when it comes to Bitcoin as we have seen plenty of times already. Did any one expect the price to go sub $200 in 2015? Nope. But it still happened.

I am with you on this one. Please do quote me and tell me wrong if the day comes when we hit $300 again. I really just think that day won't come. Of course anything is possible though and I will not sell even if it comes but still. I have no faith in $300, the momentum is picking up and cannot see any 'bad' news circulating bitcoin for now, pretty much just the opposite. Price will go up now.

that because of the fake dump, so as a result you get fake data, you need also to comapre the last data when we were at 450 and above

don't be fooled by those manipulation that may occur for 1 two days because of random bad news, some times good TA is fucked because of this

$315 would be the target of AB=CD Harmonic trade. This is the trade I am eyeing up below, but after being screwed over trying to pick the last bottom (got stopped on FU move down to $352), I am going to be very wary of my entry this time around. Expecting a FU move up beyond $328 (Finex), which is where I will be looking to go shoprt,and is perhaps also one reason why it WONT happen, but still.......

https://www.tradingview.com/x/7ME1OitE/

If $390, $375, or $350 look like they are providing any support, I might hedge my short position and re-enter higher.

Average position $416

Well done with your short entry......and here is me sitting around like a distrustful bitch, thinking that 'they' will pull off another FU move to wipe out Short Stops.......

Tell ya...it is one thing calling this dirty whore of a market, quite another thing trading it.

Chart Analysis don't apply much in btc due to unexpected "sort of" news. Bitcoin market are moved by emotions due to news as well as currency dips like that of Yuan.

People who say that, clearly don't know what they are talking about.

BTC has been hard to trade of late, namely because of FU moves, and moves not allowing traders to implement adequate risk management. BTC does this not because of 'news', but because very few hands control way too much of the wealth in the market, and it is manipulated as fuck.

I covered some of my short in the $396 area and will re-short at a higher price because the $392 support held. Might reshort at $405 resistance now.


For everybody complaining about technical analysis and stuff. News only accelerates what is suppose to happen. Most of Bitcoins moves are based on technicals and not fundamentals.

If it was based on fundamentals then it would be $10,000 by now.

Watching and seeing if this $390 / 2600 area holds or breaks. 

"If it was based on fundamentals then it would be $10,000 by now."

Let me correct it for you:

If it was based on fundamentals then it would be $10 by now.

nice method and now this method is working well because price 2-3 days ago bitcoin just touch $415 and now price drop under $390

I am waiting to buy again below $350, I think we see $300 before $500 in the next couple months

Still holding the short from $416, looks like $350 will come soon and then wait and see if it holds, if not then $300 is definately happening soon.


Major support at $300

if i see with the current price i guess we will see bitcoin price down again to $350 or below and i'm still wait for that because it's time to buy and hold it