Bitcoin Forum

Few weeks back and now we had multiple occasions of breaking out for BTC, but we failed, and we are failing now, so we break down.
Possible targets  for the next weeks are $500 and $470 (it will probably bounce here and there before reaching these targets).
Possible start of the next bubble/crash to the ground delayed until at least November it seems

These are my pics:




http://oi62.tinypic.com/66vpc8.jpg

http://oi62.tinypic.com/2vsotb4.jpg


http://oi60.tinypic.com/2zexx4y.jpg

Volume is low, Bid sum at Bitstamp is bad. no buying going on, the little rebounds are very weak.

Unless some huge bull whale starts to buy everything up (i doubt it), we going down :(

According to Elliott Wave theory, wave 1 (bounce from 340 to 548) must not overlap with wave 4 (current one). Since price territory has been overlapping it suggests that 340 was not the ultimate low and more downside may be coming in the following months if it starts trading in the lower 500s.

So should I, or should I not sell out of my BTC to Fiat Currency?

Personally I have not found Elliot Wave theory to be particularly efficient with BTC (maybe it's just me).
It seems to be more about trend lines, spotting breakout/break down points, fibonacci, triangles.
And then when you have spotted important crucial points with these tools, you look at the depth chart, price action and volume to see what's going on.

I sold my 10 coins at 551$ with an average buy of 520/30 forget, not sure what is going to happen but don't want to risk it. My feeling is it is going to continue going down and hopefully I can buy back in the 400s. My thought process was if I pull it out now it will still be worth 5450$ and worse case is I will have to buy in a little higher or the other option is my 5k is worth 3k or what ever the price drops to. If that makes sense...

I want to be at 10 coins so if I can buy 10 back at 3k or 4k I won't be risking the 5k I took out. Hopefully I didn't screw myself

so is this a short term trend or are we never going to see $10K etc?

Good chance we'll see $10k one day, but it could be a long way away. A final capitulation in this bear market looks to be just around the corner now, BTC looks so weak.

Ignore fallling, he is just trolling  ;D

My prediction is short term (next weeks/months).   Long term anything is possible.

let me get straight to the point, no you will never see $10k coin,
yes the final capitulation is coming and bitcoin is going to drop even harder and hit $0 at the last

fallling is doing a valuable service... we all want this bear market to end, so anything that shakes out weak hands and quicken it up is welcome. I don't think he's trolling to get cheap coins, he's just putting the effort in to speed things along that few others can be bothered to do. He's a hero in my eyes.

sorry but the bear market will only end with bitcoin, everyone is selling and no one is buying bitcoin,
you may be able to buy all bitcoins at $0.0000000xx after the final capitulation but they would be useless at that time

no, on the contrary, people are buying and holding bitcoin.
if you don't need them anymore, you can send them to me.

For every sell, there is a buy.

Are we in the "fear" part of the chart?
Anyway I will hold and look at what will happen.

yes, we are

We've seen "final" capitulations several times now, and interestingly, they've been good news for bulls so far. That's because they aren't the final capitulation of the currency, they are the final capitulation of the bear market. It's almost like the market has to "reset" so that potential buyers feel like they are getting a good deal... I think that's because during the decline, even bulls tend to hold off because they want to buy in at the expected low. Once we hit that low and get a solid rebound, we can resume growth. That doesn't mean we will see another bubble, although I think we may, but it does mean that we should see the price trending upwards again. I would guess within a week or two.

ok...can you tell us a long period prediction?

I don't know that I'm afraid I'm not a wizard  ;D
Not yet  ;D

Did your analysis cause the drop today?

Damn the targets $500-$470 might get reached sooner than expected  :o


New lows at Huobi!



http://oi59.tinypic.com/2pydut0.jpg

you know what? i can predict more precise than you, how about calling yourself is a troll?

lol you just go around saying that BTC will go to zero, the game is over (which are just ridiculous bold statements exactly as "BTC to 5k next month omg!"), etc. And you have been doing this for a long time now.
And when the drop finally comes (after ages), you post "I told you"!
This is hardly predicting anything  ;D

have you read about this?

You have been warned since $680 !

https://bitcointalk.org/index.php?topic=713671 $560
https://bitcointalk.org/index.php?topic=698224 $580
https://bitcointalk.org/index.php?topic=665200 $590
https://bitcointalk.org/index.php?topic=650517 $600
https://bitcointalk.org/index.php?topic=649261 $620

https://i.imgur.com/LL6QD2P.pnghttps://i.imgur.com/F7v3lBx.png

Seems like we already lost the 530's.

The 520's are the last resistance we have before a plunge of -$100 in really little time(see OPs 3th graph).

Yes, we are about to have a falllling.

As I said you are a broken record saying that BTC will go to 0 so when it finally drops you are like "I told you, see?"  ;D

And lol man what is that bubble picture you posted? depending on your own picture it's clear we are around the "Despair - Return of the mean phase".   Especially if you look at the logarithmic chart, is that what you are trying to say?  ;D

we are heading to the final capitulation, like it or not that's what gonna happen

On the contrary, down trends are when you are supposed to buy.

more precise than him? you called for 550 over a month ago, and it never hit until yesterday. this guy calls 470 yesterday, it hit that night. id say your precision is analogous to an artillery shelling attack compared to a sniper rifle. like he said, you just call for the end of days and spew random numbers and pat yourself on the back with any dip at all.

Smart traders will buy more as the price go down because it's only a matter of few weeks
and the bitcoin value will rebound and start to climb the charts.

What you call a "final capitulation", I call "an excellent time to buy an undervalued, permanently scarce appreciating asset".

"When others are greedy, be fearful.
When others are fearful, be greedy."
-Warren Buffet

https://i.imgur.com/FnJShDU.png

All of this has happened before, all of it will happen again.

I wouldn't want to buy back just now guys, just wait it out and see what happens.