Bitcoin Forum

The auction of 30,000 BTC and the breakage of the log term support line are the perfect storm for a Bear Trap.

Do you agree ?

Nick.

If Bitcoin can survive Mt. Gox, it can survive some skimpy auction of 30k coins. 

Bear trap to the max - just hold.

yeah , but those 30k are just a start...

what matters now is predicting bottom as close as we can :)
im 100% sure we will stay above 500$

I disagree, it is the perfect storm for a bear market though.

This ship is listing heavily. I think we go down to low 400s. If my pain meter in my head is really right, we will go down to low 100s as that is the point i would consider selling :) and most of my investments make me want to sell before they go up, just saying.

I 'm selling all of my coins!!! Will you buy them for peanuts?  ;) :D

$100 to low i think
if 30K BTC auction winner get it with cheap price and he iimmediately dump it to market, maybe we'll see huge drop of price
but $100 is way too low :(
i'll sell half of my BTC if it hit $500 after the auctions end

I think this is the best buying opportunity we will get in quite a while. Not 100% sure but nothing is 100% certain. The best trades often feel not too great when you make them, but looking back in two weeks from now you might regret not having bought more at this point.

So you'd sell at a low point?  ???

Then what? Buy back in after it reaches $1000?

That doesn't sound very smart. You must be a bear.

Perhaps you should consider buying when the price dips and selling only during rallies when the price is up.

Just a thought.

Exactly, I've been reviewing my sentiment during summer last year, when I bought too little coin at below $100 levels - it did feel like a very bad trade at the time. Too much jerking there and back, not sure if it is the bottom or maybe I would be able to buy more at $60, extremely cautious buys as a result, then lots of avoiadble headbanging in November.

So yeah, all the better timed buys were at the most uncertain periods ($5 one, as well - "oh noes, we are three times above the lows, such expensive coin, stopped growing, I'll better wait")

The auction of 30, 000 AND maybe the future auction of the other bitcoins seized ( 100, 000 ..) !!

I might have agreed if we weren't already in a bear market for the past 6 months or so

a bull market will come between now and the next 2 or 3 months.

doubt it.
i believe we were in a real recovery, but all those over-speculations, overexpectations and bad press are plumming us down/sideways.
also, judging by fiat needed to push the price now, which is higher, doubt we will see a realy bull for some time..

Yep, I think bear trap. Because of the breaking of a major growth trend a lot of very technical traders are selling, but I reckon the SR auction results will be bullish if this is anything to go by (http://www.bloomberg.com/video/u-s-to-auction-17-4m-worth-of-seized-bitcoin-5ib0r6DrRNGXRQ4RCsty0A.html) and these new entrants don't know anything about the 2 different exponential growth support lines which bitcointalk forum nerds are obsessed with, they just know that

1) there is very little trust in the global financial system
2) you don't need trust with bitcoin and
3) the richest 1% of the world population would only be allowed 0.2 bitcoin each if they were spread across them evenly.

Don't tell rich people they can't have something, they'll go nuts.

An auction has the posibility for an overpriced selling, right? why if we are lucky and those 30k are sold over $600, get ready for the rally...

Trust me, there will be a rally / panic buy right back up to 650+ once it's blindingly obvious that there won't be a crash directly due to actual auction events / outcomes.

*laughs* definitely. I trust in atp.

Go ahead, your teddy bear is not the only bear that is gonna be squeezed

Bear Trap Confirmed

well i sure hope you are right.
but, there is a real dose of uncertinty to everything now, even when its obvious that correction to 630-650 range should occur.