Bitcoin Forum

https://i.imgur.com/HDFh5Ml.jpg

To be honest, I'm annoyed by this prolonged bear market and I would like it to stop right now. I drew some lines here, however, which would indicate the bottom around 200$, maybe even a bit lower in summer/autumn 2015 (and after that hopefully breaking upwards to da moon)

I'm not a TA expert, so what are your thoughts on this chart? Feel free to insult, ridicule and praise (I will mostly ignore the former two as I know there are strange people on internet forums)

So when you suggest we buy BTC?

If the graph turns out to come true, best entry point would be next year at 200, but I would not rely on that. I hope this graph doesn't come true because with all the adoption going on, I can't imagine bitcoin would go lower than the multi year support line. As I said, I'm not a TA expert. I just bought another coin @300, just in case :)

At these prices you don't need, nor want, to wait for hit to hit bottom. I've always said if it goes this low, to buy as much as you can, (If you have the fiat, lol) Never try to guess the bottom,  youll only hit it if your lucky, its like throwing darts or selling at its peak. You just dont know or can guess which one is.. So, just buy when its cheap, if it goes lower, just keep buying. That way you get your cost averaging down. Thats the important part. So if you bought in at 700 and then bought in at 275 then you average could be 400 or so, depends on how much you buy of each. Bottom line, buy if you can and hodl..

People have used that logic & have been buying since $1,000... This is why they're all dumping it now that it's at 300! Doesn't matter how much you bring your cost average down when the market is constantly crashing! I love how little pops here and there get you bulls so excited....... Im watching this dead cat bounce over and over and over and over again!

How about $20 next year ;)

I'm pretty sure it's going to stay in the 2XX range.

I am no TA expert either, but I like this chart because it seems right in my gut. Next bubble would start when the hype for the halving begins....

Biggest risk for me frankly is an alt coin that rises up in that time frame.

Yep, had the same thought about the halving. But on the other hand, the market is clearly being manipulated right now. Maybe someone trying to make the recent low fit for this graph? For those who have already some coins and want some more for trading, I would buy now and sell only those speculative coins at 400, just to be on the safe side.

If that's the StochRSI at the bottom then we are very oversold and it might go up earlier.

In fact, we could go up right now. There's enough upwards pressure, if that manipulator wall would not be there. But question is how high we can go and whether this is A bottom or THE bottom

Did anyone consider the crazy idea that this might be a top?!  ???

We will break out much sooner. We may go into the $200s again, sure. A dip below $200 seems possible, but not very likely at all! But staying here until next summer, nah, don't think so! We will at least recover to about $500 and start a slow climb from thereon!

200 target should be a conservative point to buy and hold.

Yep, when I turned my screen upside down.

Hope so, too. In case we climb to 500, my graph would be invalidated. So everyone please buy some BTC in order to show me my poor TA skills suck :)

Pics or it didn't happen ;)

Using past performance to determine where the price is headed is the dumbest thing you can do... This could very well be a top & you would have no idea!!!

I know I know. It is a top and right now it's massively breaking downwards to zero and below....

...Oh wait, I still got my screen upside down...

Summer 2015? I don't think so. If it would last that long, bitcoin would be as good as dead.
If the 2013 low of about 63$ would be broken (impossible IMO), early adopters would panic and sell millions, effectively killing it.

When next year? Which month?

the question is what would it make to have prices so high?

 :)

too many thread in Speculation section nowdays
everyone predicting future of bitcoin

Next year, 14th September in the afternoon at half past 4. But not one minute later! Price is definitively going to be 203,56 USD :P

Come on guys, you are funny. I'm telling you that I'm not an expert and you want me to give exact dates of a hypothetical bottom one year ahead that I myself don't hope to come true? This is just a possibility. If we break through the upper line ONCE till mid-2015, this graph is invalidated. I very much believe it will happen. Until then this graph may be discussed.

Pretty similiar to what i was thinking. However i also expected it to hang around $500 by end of the year, so the bottom might actually be lower. And there are still a lot of requirements missing (ease of use, low fee accessability, incentives from merchants), but mid year next year seems possible. From there on an exponential growth seems reasonable. Might well be like 30%/year. So the ATH could easily be broken in less than a decade.

In my opinion that chart is true. Prices are not a result of supply and demand, but a result of the price history.

This is how we can tell you have never made money in any market.

If markets are efficient, all available information (including price history) are already priced in.

Bottom could be as low as $100 or even lower.......

Does not match the chart at all. Discuss the chart or leave your comments in an appropriate thread.

I am just saying... Sure, TA could help. But only because other traders use it, too. I am just saying if the US ban Bitcoin, the price would drop. If Amazon accept Bitcoin tomorrow, the price will skyrocket. No matter what TA says...

MRW reading falllling's comments in this thread:

https://i.imgur.com/6cwz4ll.jpg

That is long time til then. what should i do with my money in mean time?

An insider tip just for you: in the meantime you should glue all you dollar bills together, let them dry, put them in the fridge (cold storage). Next year, take them out, add water and put it into the microwave oven for about 1 hour at maximum power. Take a sleep next to the microwave oven for the timespan.

Well if you have lots of money or coins, do what the smart money is doing & short the market down to 300 then bounce it back up until 350 until you lower the bounce, 340,330,320 then retest the 275 lows... This is obviously whats happening when you look at the long term chart

We'd need prices above 460 right now to break out of this. Or sideways movement for a month or two. C'mon Bitcoin, you can do it!! :D

414. Falllling was right!

Oh noes, looking at the 1h-chart at Bitcoinity, Bitcoin is down 1 percent, we're still falling ;)

Bottom of 2014 was 275,  October 6th.

https://i.imgur.com/ZZ4tXyj.png