Bitcoin Forum

i was risiculed by a few people a couple of weeks ago for pointing out that the trend of the btc price had changed, and was bearish, it was still over 100 then, its continuing to make lower levels now ...

ok, im not one of these "told you so" predictive types, who relish this kind of thing, nor am i one to make predictions at all, i prefer to assume the market is always right and the opinions of people always flawed, and often entirely subjective ...

i dont know where btc is going to go next week, let alone next month or year or decade, im a holder and i do believe in btc as a fantastic new idea and one which i hope can, if not change the world, have at least a lasting and significant impact upon how the world sees and uses money, it is currency imo, not a commodity, the "mining" is merely btc's form of issuance

ok, all that aside, and putting aside what we think, or hope, happens with btc from now on ...

im really interested to know - at what price ???

for those who have had enough of btc, and want out, want all or part of their fiat back, at what price do you intend to sell (either with a profit or accepting a loss) ??
for those who are dedicated to the long term, at what price do you intend to buy more ???  byt that, i mean a significant addition to your stock of btc's

for me, as i got in at around 57 AUD, that number is key, and to be honest im really undecided right now, if there is strong evidence of massive buying in the 60s or 50s then i will probably buy more, if not, then im inclined to sell all somewhere in the 70s, which isnt too far off now if this decline continues ...

 

If you are thinking of selling, you are not a "holder", you don't have enough confidence in the protocol to ride the wave which means you will only end-up selling low when you have lost all hope (if we were to reach such price points). You would have sold at 3 or 4 in 2011. My advice to you will therefore be to sell NOW and not waste time and generate unnecessary stress while ending up selling at a lower price than today. You can always buy back at a higher price point if you regain confidence (and we ever see such prices).

Now... If you want to know what I think of the price action these days, it looks to me like the ma 200 daily is pulling the price down as it should, this is the major support test coming at full speed. So we are closing in (standing at 71.9 today) and resolution should happen anytime.

My educated guess is that price will zoom up from there back to that nice little trendline we broke on june 28th. We could also break it as it broke in 2011 on second impact.

75 USD.

Currently a second time of dropping after the USD 266 on April 2013.

Two months, the graph looks like roller coaster, very dynamic. I don't think it is not only PRISM but banker itself. Two-week suspension of USD withdrawal can be the problem.

Perhaps in Mid-July USD 50? This is my guess as people are panic for the meaningless...

both good points, bear in mind im an aussie and the AUD is falling from a sustained period at higher than USD, which was where it was when i got into btc in march this year

so perhaps my own fiat is to blame a bit for this sudden slump

i "Want" to think like a holder of btc, but tying up capital in something which is losing value goes against my investor's instincts, its inefficient, i do like the fact that at least you guys are following some sort fo technical anaylsis, far too much fundamentalist "optimism" on these forums, doesnt make me feel too comfortable :)

ive yet to find any really good tech analysis charts for btc, indeed other alts as well, perhaps ive not been looking in the right place, but i like ohlc's, and viewable in daily, weekly, monthly, as well as intraday timeframes - id feel a heck of a lot more comfy if i could use those, im not competent in excel to be able to export raw number data and construct my own charts

i also agree the USD and regulators/banks causing problems for people is a factor, also this latest winklevoss etf stuff is destabilising things imo, seriously i wish some of the bloody hype (negative and positive) would go away, and just let btc find its own path as a market

That feel when you buy in around $120.

I'm fairly sure it'll pick up again (I hope it does!). I'm tempted to spend a little more right now just to even it out.

https://www.tradingview.com/ is the best charting solution for bitcoin imo, quite neat.

This is my technical setup for bitcoins :
https://www.tradingview.com/x/sqYz8tIj/