Bitcoin Forum

I see higher lows... if we are above 350 by the weekend the bulls will come rushing in as they squeeze the shorters!

http://i57.tinypic.com/2hh0g7a.png

Today marks another great day to buy as we hit the beloved triple bottom!  :-*

do you use ie11? I was ready to upgrade my ie8 although I use chrome all the time, but i need a normal ie, how about ie11?

Lines on a chart are just lines on a chart. Looking for such "meaningful" patterns is known as pareidolia.

BTC price is driven by supply and demand. Currently, the supply is a lot larger than the demand.
Is there reason to expect that to change in the foreseeable future?

No.

And that's why the price will continue falling.

incorrect. the real picture is more complicated than that.

It isn't about some pictures, exo is right it's about supply and demand.

Does the fact it just went down to  319.6 on bitstamp invalidate the triple bottom?

edit/

Does it still count as a triple bottom because it just dropped further down to 317.0

It doesn't matter if the candle closes around 320.

the low isn't higher and it's not a tripple bottom but therefore the  total amnesia and lack of a brain of most participants in this thread has been confimed.

You are correct it is a quadruple bottom.

The price has dropped into the mid 3's and high 2's 4 times and bounced back each time.


This doesn't mean it won't go lower but it is right in the numbers just open the eyes.

If you are looking for a double, triple "bottom" of $275.968438438095680952809458094236709843275465 or perhaps 268.45843258094358432806574392852965   you are just wow.

As I said in many many posts... we were looking for a bottom at 316, my team and I are now full leverage long at 316, we can't believe it hit our target so fast!

As professional traders, we are sticking to this target price, so emotion will not be involved...

Lets see how that works out for you...

^ We will see! Thanks  :-*

Optimistic views. I think another great time to buy some cheap coins as we hit the triple bottom. :) Emotions, step aside please, we're going to ride another roller coaster.

Holy crap! Fewcoins is going long?!  Inconceivable!

is this "the bottom is in"-thread no. 4935 this year?

IIRC he/she/it has been long previously. Possibly only to add credibility to the persona, but tbh they weren't bad calls.

More or less. It is the flood of topics like these that automatically make me assume the opposite. i.e. that the bottom really isn't in.

I don't think so, a high number of shorts on Bitfinex indicates us north direction :) Oh, and 6h/12h RSI is heavily undervalued...

haha very true, last time I went long was after we hit around the 320 level right after we came off the pop from the 275 bottom... and we hit 485 from then!
We weren't full leverage at that time unfortunately so profit was limited...
This time we had a 316 target, started covering shorts since 340, started buying 330ish~, averaging 317~ after buying all the cheap short term coins today.

I have always made money doing the opposite of what others do, try it, I bet you'll be so happy you'll buy me coffee or tip me something  :-*


Correct sir  :-*

I was more optimistic when FewCoins was bearish.
Right now, the situation appears bleak.

Are you still long on full leverage ?

Of course he has stops.