Bitcoin Forum

http://imgur.com/9MPws7y (http://imgur.com/9MPws7y)

Be mindful of panic selling once we breach that level. Look last time. We stuck the wick below for a bit but bounced right back. Its a possibility.

I'll take either direction.
Let's keep the market moving.   :)

yeah its all guesswork.......

anyways I got no orders in, taking a wait and see

under $250/270 and we could see some real panic, since bitcoin "never drops below the previous ATH" - one of the unwritten rules of bitcoin!

Support levels will probably line up with corrections from the rally. So first 270, and if that doesn't hold then 170 a month later, then 145, etc. - not right to 100.

dunno about that, $100 give or take is where it was stable pre-china

now that china is gone, yet again...... lets see i guess? still hasn't broken the triangle, needs to close well under $400 convincingly for that.

However pre-China was 6 months ago and since then, there has been some kind of exponential growth in the intrinsic value of bitcoin and its adoption.

perhaps, we shall see. Still a nasty chart pattern. One of the more reliable ones, in a bull market, statistically, it breaks down through the bottom 72% of the time. It rallies out of the triangle 28% of the time.

Doesn't matter if it rallies out of the triangle only 4% of the time.
BTC fundamentals are booming and that will cause a huge Rally soon enough.

yeah but if you got no position like myself, whats the rush?

wait and see time.....

you will notice in the chart, i did put an up arrow too? not saying it has to crash

Charts mean absolutely nothing.   You can't draw a line past the current date, with any accuracy.  Unless you have a DeLorean with a Flux Capacitor.  Its a meaningless line.

The only thing that matters is adoption levels and commerce numbers.

-B-

When I was a kid, back in the 1980s, I figured that when I grew up I'd get a DeLorean.
If Wall Street do pile in and push the price up by a couple of orders of magnitude (which seems too good to be true, so I'm not holding my breath) I'm going to buy one.
Short term it does look like increasing merchant adoption ahead of consumer adoption is going to push the price down more. Great article by Vinny from Gyft about that.
Still a little bit annoyed that next year is 2015 and there's no sign of hoverboards yet, though.

?

the reason charts work is because everyone else is watching the same chart, its not rocket science.

yeah if you draw a chart with 9 million weird indicators and such that no one else could possibly see, yeah that is nonsense.

but on a basic chart like I posted, all speculators can clearly see the downtrend line, and the support line.

if your logic is in fact correct, please show the commerce numbers which show bitcoin commerce (not speculation) increased 1000% from oct to dec 2013? to match the 1000% price increase of course. You can't? well perhaps the 1000% price increase was speculators? therefore perhaps speculators matter? and perhaps speculators are looking at chart patterns?

O really? No hoverboards you say...

https://www.youtube.com/watch?v=6m2ZpYidqZk

That's not a bad thing though - the merchants going first, not the mass public, or no hoverboards - seems like a cart/horse issue...the people won't come until the support structures are there, the supply is ready for the demand. If you're going for a quick buck then the long wait time is probably not appealing but if you believe in bitcoin's future and potential as a game changer and see how pervasive it'll be, then it's a long term developing gain that will pay off in spades later on...and compared to the cost then, right now is affordable to invest - not as a stock option but in a technology to help it evolve.

Mmm, $419 right now on bitstamp.  There was a huge dump about 14 hours ago that forced the price downwards.  We've seen this before.  Expect the price to suddenly shoot up to maybe $460 or $480 within the next 12 hours or so.  Hovers there for a while before deflating again.  Someone is making a small fortune on this trading.

funny, all this talk about 100
I would have shit instead of brain to sell my bitcoin for such a price  no matter what happens.
You are crazy folks, what is the purpose to preserve 10% of value when  you already lost 90%. looking on this  falling price I am even not nervous anymore. In such price range  only speculators are selling and without  them we can finally achieve healthy grown based on fundamentals

Absolutely. The crunch might be bad for speculators but not bitcoin's overall evolution. I'm a lot happier with btc in the $200-400 range (wherever it ends up) than at $1,000, since it better reflects its real value.
Getting the infrastructure right is critical. Then when the killer apps come, along with proper investment, mass-adoption will be easier.

well past 2 times its hovered around $400, it has been met with massive buying within the next 24 hrs

not today, looking heavy still

Yes, ~15 to 20% every fast cycle ads up.
You don't need to worry about missing a big move if you catch enough "small" ones.

and it still looks very very heavy, grinding lower on no volume, no bounce

my wager - $400 doesn't hold, the bitcoin shit hits the fan, and every previous buy the dip rule is broken.....

lets see!

so charts mean absolutely nothing eh?

notice how we dumped hard under $400

this thing is going to minimum $260, but i think more like $100

Currently $28 above the low.
Going up, up, UP? .......someday.

yeah i dont mean in the next 24hrs

i mean give it some weeks / months

long here at $425

bitcoin broke under triangle and then broke back above it...... in my book means buying interest is still there, especially at lower levels (a floor so to speak).