Bitcoin Forum

Classic triangle pattern forming if you look back at the last big august correction. Then we had another correction, a weaker one, and now, another weaker one. Increasingly weaker corrections with an overall uprising price: breakout incoming. Last chance for the idiots still doubting to buy to get in now or never.

only the day traders are waiting to buy in the dip. and also only the idiots who doubt everything are staying on the side while shivering with fear.

the rest of us have made our purchase and investment a while back when nobody was looking and price was low ;)

Yep it was so clear that the 200ish dollar period of stability was a lifetime opportunity to buy Bitcoin monthly. But the real rise has not even begun yet, so all those dips are still opportunities to buy more if you can.

not sure whether or not we'll see $700 any time soon, but smart traders have already done their buying well below the current levels. right now it's up to the dreamers and doubters to start buying. but mostly these type of people will start buying as soon as the price has gone up. they don't have the balls to buy beforehand.

Considering that price is going Dows at the moment can't tell that it will be 700 any time soon
maybe by end of this year but right now and for this month don't see that price

Are we ready for the shitstorm?

Aren't you?

We're always ready if you'd ask me.  :)

Unfortunately no. And I think it's a little too late to sell some of the coins now, but there is a high possibility of bears entering the market. It amazes me how many times the chart has turned into a rectangle like this:
http://ynef.net/upload/charts/btcusdpatternrepeating.jpg

^^^this chart predicts nothing and, actually, charts in most cases have no predictive value whatsoever.
They are useful tools to provide some rationality afterwards, but that's it.

You obviously haven't traded a recurring pattern. I'm not necessarily talking about Bitcoin right now either.

The correction volume seem not that high so may be this is last correction we will see before we cross $700 again. Time to wait till this correction find its buttom and buy whatever we can to ride on $700+ price pump train.

We are waiting to come back on 700 dollars for some time, it's finally the time for that. I'm not sure will people buy it now, or they wish more proofs that bitcoin is strong currency, and people should have trust in bitcoins.
I'm saying all summer that we will come back on 700 + dollars, that was so clear from my point of view. And I'm sure that we can see even higer price before new year, jist wait and you will see.

For me personally it doesn't really matter if we manage to see $700 again this year as long as we stay above $600 for the rest of the year. But one thing is sure, if it happens to go to $700 this or next month, then it's a nice bonus for me. Other than that, I'll keep holding my coins as I has been doing for nearly 2 years now.

so how can you know what is going to happen and how can you calculate upper and lower resistance in bitcoin,if you could share your knowledge it would be cool as i am trying to learn all the signs and yet no positive result as i cannot really understand how to identify a certain resistance value

People have been repeatedly saying that if you don't get in right now, that you'll regret it for ever, but the reality shows that there will be plenty of opportunities for people to benefit.

The price goes up and down since the very beginning, and that will not change.

If people miss out on this potential rally, then there will be the next one that they can benefit from. No big deal.

May be whales are just creating a little bit of fear on the market by dumping a little bit of their bitcoins so that they can grab new cheap coins greater than what they have dumped. It is obvious to see correction before another pump and i think this correction is also similar and we are ready for next big pump.  ;)

I totally agree with you. I don't think someone can predict to future price of bitcoin just based on charts. Otherwise It would be f..king easy to being rich.

Charts  are  just tools  regarding on the movement of bitcoins price and  we cant really predict  the next movement but  there are  some  patterns  that we could able  to observe and  somehow assume  the next  movement but still we  cant guarantee it. No one  really knows the future.

there are some potential news on the way in the very near future that can change the way market is to kick start the new breakout to above $700.
and in my opinion the two most important (most hyped) events are the US president and also obviously the block size debate.

In a few months bitcoin price never can't break $650 maybe it's the time we must lose a hope to seeing bitcoin price touch $700 in this year.

No need to lose hope, but the point is that the majority of the people here expect too much from the price. Reaching $700 this year is a realistic possibility as there are more than 2 months to go before this year ends. But hoping for prices higher than $700 is more like wishful thinking. I think $700-$720 will be the peak that we will see in the remaining time of this year, and after that it will settle below $700.

I think this price correction already got its buttom yesterday at around $625 so i am tightening my belts for another big pump.  ;D

It could have been the last correction before another rise.
But we don't know.And I don't care to be honest.
Bitcoin will rise sooner or later.Probably when no one really expect it to happen.The fundamentals are looking really good.
SegWit is close.Lightning winter release is within reach!
What happens short term, up or down, doesn' really bother me.

Bitcoin frequently does the opposite of what most of us expect. Last November no one expected it to reach $500, most of us expected it to go back to $200 after it had reached $300, but we were wrong. We will get a 700+ breakout when most of us expect it to go back down.

the 700$ breakout and even more prices will soon come and like it or not this is a fact that will happen. so it is better to get ready for the rise before it happens.

because it ha been proven that we will always see some people crying after the rise about "is this the right time to buy" so buy now and don't ask this question after the rise.

in most cases that the thing
I don't expect not tight now for price to go up anytime soon at least not this month
maybe in December we might see price over 700

Well I agree that we don't know what will happen after the correction.  It is possible that after the correction another bigger correction will happen.  It might be bitcoin price to fall down to 500+ USD or  maybe a correction that will push bitcoin price to higher value.   And since it is yet to happen we are all here sitting and watching while speculating what will happen next.

I hope so, the whole forum is very quiet lately, I hope that isn't a reflection of things to come with regards to price etc. There just doesn't seem to be much excitement around at the moment.

Are people losing interest?

i think in this year bitcoin incraese price until 700 dollar every one bitcoin is easy
my prediction bitcoin can inrcrease until reach in 800 dollar every one bitcoin in end year 2016

Just be patient. Bitcoin will break thru 700 and above in a few months. THere are a lot of good things going on on bitcoin right now. It is sure to break 700 and maybe 800 within this year or early next  year. If bitcoin ETF push thru, the price might even get higher than that.

this is more like the last chances to buy bitcoin cheap since i have been seeing the same scenario taking place before too, multiple times.
this time it is the $700 turn to make us wait for it and then come suddenly when everybody is tired.

Let's hope that what you are reading from the charts come true. There's always the possibility of another pullback, however temporary, because of news or other events that take place. $700 isn't too far or too high to reach even before the year ends. Anything higher than that by December is already a big bonus considering how the price started this 2016.

yes no doubt that bitcoin price will increase more that 1000 USD at the end of 2016, but above 700$ bitcoin can take a little correction and the price will come down a little but it will be temporary down fall. and after this price of bitcoin is gong to cross 800 USD.

Price this year been quite fluctuating due to bitfinex hack lossing thousands of bitcoin however it is nice to see price is moving towards before hack time price already and if $700 is crossed in next pump we will be again before bitfinex hack price range.  ;D $700 is comming...

Of course there should be hope for rise of the price. the two remaining months are months characterized with lots of purchases. So, many people will be buying lots of bitcoin for purchases which will increase the demand and consequently the price that everyone here is hoping to see. I think what i said is making sense, right ?

All bitcoin users are  hoping for the price increase of  bitcoin because as we all know that we would really benefited on that event  that would happen  but  we cant still make sure that  it would reach price  point because  adoption is  the main reason. If  adoption would arises then  for sure  price would  move  up.

little over 700 will be price maybe I'm wrong on this but to much pressure is on 650 price if this can be breakerI will say that 750 will be next one
But still it 2 long months till end of this year

I have a lot patience. From all the good things (according to you) going on with Bitcoin, list me the most important ones. Also, are you talking about the Winklevoss ETF? If so, then I think we might be up for at least another year of waiting before it gets approved (if it gets approved at all).


People buying themselves a position into Bitcoin can indeed lead to a higher price, so in that regard it makes sense. But don't forget that this market is being controlled by certain groups of very wealthy (mostly Chinese) traders, with high stakes in the mining industry. Even if the price doesn't go up by legit demand as in more people buying Bitcoin, these traders will make sure the price remains on a certain (profitable) level for them. In that aspect, not everything is always what it seems to be. ;)

if bitcoin price wants to go down. it will go down and there is nothing any whale or whales can do about it. in other words there should be real demand to keep the price up. and yes these whales can do some manipulation to prevent panic selling temporarily the same way they can create panic sells temporarily but they keyword here is "temporarily".
and the fact that price stayed up and rising slowly shows that there is real demand for it.

Over a long time users were expecting to experience the break out of bitcoin price over $700. Now in the ongoing fluctuations we can see the price to be around $650 in a short time. Possibly to experience $700, we need to wait with patience till the year end.

I agree with 1Referee. There is no need to cry that the price isn't pumping again. Bitcoin is all about waiting and that is much harder than initially seems. That is one thing. The other thing is that we currently don't have much fundamentals to support a bigger rise. That means that the only option is a pump based rise, and this is almost impossible to predict when it can start. You will only know that once the things are going.

I agree.Patience is needed and a price around $700 is still a realistic aim for the end of that year.
But I wouldn't expect much more than that.
If we should reach the ~700, a bit more or less doesn't really matter, we then had a really good run in 2016!
Remember that 13 months ago we had been in the 200s!! Therefore I see this as a really strong comeback of Bitcoin in terms of price this year!!

And that is yet another good point. If things taken in proper perspective, 2016 has been a great year so far.
Great growth and with price now around $600-650, people who had enough patience got quite a chunky gain.
It is all about how realistic price expectations you may have. I know that many were expecting moon or beyond, just because of the halving.
They put their 0.1BTC hoping it will grow 10 or 20 fold, just like that. Well, that is not that easy, and I hope that was a good lesson for them how difficult it is to even double the price from where we are now.

Only blocksize debate matters, albeit not as much as you might think.
US presidential election is insignificant event - bitcoin or regulating cryptocurrency in general is not priority for both Clinton or Trump.
People were saying that in case of Brexit bitcoin price will skyrocket, it didn't happen.

if you ask me, none of these things matter at all but the reality is different and they will surely affect price in sometimes unexpected sizes.

because if you think about it, the only thing that should affect the price is supply and demand and the demand should only change based on adoption. and since adoption is not changing suddenly the rise should be slow.

now have this even changed anything? no. mostly hype have been affecting the price like the $120 drop because of the bitfinex hack.

In the wall observer tread, that historically has been a bullish indicator (counting Chartbuddy's in a row).
Now imagine that rule can be extended to the whole forum turning quiet.

Don't worry, Bitfinex is gently asking (http://blog.bitfinex.com/announcements/message-individual-responsible-bitfinex-security-incident-august-2-2016/l) the supposed hacker to return the bitcoins. /s

If they do get 'returned' we can be sure it actually is an inside job.

Yes, $700 by the end of the year is realistic, yet I agree that it may as well not happen, but that's not too much of a deal anyway.

Bitfinex is being investigated by multiple agencies. Their strategy of giving tokens has not worked.
They have to return the bitcoins stolen, or be hauled up by the authorities.

We're definitely seeing a good increase now :) I'm assuming we'll be breaking $700 within two weeks (but we'll see if any damn exchanges get hacked lol).

Those who got started with bitcoin last year, like me, is very satisfied with the growth of bitcoin this year. We even hit 800 at one point.  Maybe those who started this year are the impatient ones. This long correction phase bores them. I think this is about to end and the price will start to pump as the holidays are fast approaching.

i really think that you need a solid pump to have a new floor, with these slow motion, the market is not going anywhere, at the first dump we are again at the beginning of this, what i want to say is that i'm not really sure this last increasy is very stable, i've seen this already, it will usually return at the previous point

It looks like you may be on to something. Then increase today has been about 5% so far. I think we could see the price hit $700 soon. Although it wouldn't surprise me if we saw another correction before then.

These  price increase are  just  normal though hence bitcoins price is  moving  on  any way and as you mentioned  we saw this  kind of  movements  that  like they are  just  hyping  up and suddenly goes  back   to  its previous  price which  is  no  surprise  anymore for me.

Blocksize debate has been used as a potential key factor for about 18 months already. Actually it is a non-argument as long as there is nothing coming out of these talks, as in the last year or so.

That is right. The newcomers are usually impatient, nothing new about it. It usually take them until the first bigger loss that helps them put the things in a proper perspective.
Things take time even in Bitcoin and one has to learn to live with that and trade it to his/her advantage.

So correction of price is over now and advancing moves are happening? The price was as high as $675, but dropped a little now.
Question: do we wait for more gains, hoping that bearish trend will continue or it is a good time to sell some BTC?

Yes, all that looks very fishy, especially given that we all are kept in the dark on the investigation.

we all hope for this but im still little skeptic about it think that this 700 is really hard barrier to brake but if somehow we manage to do it dont know and can predict what will be price for bitcoin after that
and i have high hopes just for steady rise in price sudden bigger jump wont do any good cuz after that sudden drop comes out

I agree. I don't expect any sudden long jump up at the moment. It is more about making small steps forward. And at the moment the first obstacle is the $650 level. Let's make it first, and stay above for some time. Then we can think of $700. And I agree it won't be easy to make it.

Let's not get ahead of ourselves here. At the current price, the $650 resistance will be tested in the coming days. Let us see how the price behaves from here on in. If the price successfully breaks that resistance and eventually goes to $700, I hope it is not too soon. Too fast a rise almost always results in quick drops as well. Better for the price to move up slowly, and pull back a little so that it is something that's more healthy and within the normal movement.

Less than $50 more to rise for it to reach $700. It's looks so delicious... However Bitcoin is crazy. And the traders even crazier. If it reaches $700 there could be a significant dump shortly after.

Y'all completely delusional. This market is owned by a hand full of people. It's pure manipulation to get you to spend your fiat and make them rich.

Consider all the flaws in bitcoin at protocol level.

Bitcoin does not scale!
Bitcoin is not anonymous!
Bitcoin is a privacy risk!
Bitcoin is too slow for real world applications!
Bitcoin does not allow much more than just fake fantasy money unlike many smart dynamic blockchains!
Bitcoin is mostly owned and controlled by a hand full of people!
Bitcoin makes you suspect of illegal activities!

The 650 price is quite holding quite steadily. I think it will break that resistance soon. It does not matter if it reach 700 too soon as long as it stays there. It has reached that price before and even hit 800 a few months back. If not for some bad events, it could have stayed at that price and it could be higher now.

r0ach or anyone, do you have any analysis you can share on the likely direction of the BTC price between now and December?

I had written in your blog last month (https://steemit.com/money/@r0achtheunsavory/bitcoin-market-in-one-picture-without-commentary#@anonymint/re-r0achtheunsavory-bitcoin-market-in-one-picture-without-commentary-20160921t021223524z) that this looks like a pause on the way for probably all time highs, given a cpu&handle at $700. What are you seeing in your current analysis?

We all hope for that price, and we'll see it until the next summer. In the winter of 2017 we'll have a big surprise, I believe we will! Just wait for it!!

Personally I'm not into technical analysis, but I consider the high 700's as a possible scenario before year's end.

With few exceptions, the same can be said about fiat currencies. ;)

This is good if it`s true. Bitcoin was there and after drop many of us waiting 700+ to come back again. Price is slightly increased in last week, I understand why you call that correction, it`s like collection power before jump.
We need to be patient with price, I believe in increase but maybe that increase will not come so fast. Bitcoin still have time to rise on 700 and more, we have few more months before new year, and next year, and year after. In that time price will go up for sure.

When I first read his post, I had to agree with him. Though I'm a bitcoin user, so I will still use it. Now your comment is also completely true. To be honest, both are true

breakout meaning has changed for bitcoin, before it was a huge rise from $100 to $1000 but these days breakout means a slow rise as big as $20 and less than $50
the good news is that the rise happens no matter what, and i think that is better than no rise and getting stuck.

Yes, we'll have a good Christmas

That's true, but obviously, we can't make do with just bitcoins for the time being :) and to some extent bitcoin is a great alternative to fiat putting a lot into perspective.

At least I can buy goods online without going thru painful identification process of the bank system.  Aside from that, they wont get to hack my visa card or credit card when am purchasing goods :D, it is more safer than doing those stuff.  Card numbers and its secret pin being hacked or exploited by the site you are dealing with.  Sounds scary.

The resistance broke so quickly. That's what catched my eye, that every day that passed, 20$ were added to the price.

And even then each bitcoins is currently valued at $650. And Bitcoin keeps on ever improving, evolving and being adopted.

666 was broken so easily this time around.  ::)

Next week it may cross 700

It may happen already this week who knows.There are still 3 days left and it seems China is again the main country pumping Bitcoin the most.
At least I could see us touching the 700, testing how strong the resistence is and then with the beginning of next week trying to break through it.

i have some ffeeling that the price will be 700 this weekend
This is just my gut feeling for the moment and I hope it will be like that

Well, I have to say that: hold your horses, Señor Quijote. It is still a long way to Christmas and in two months we may as well end up lower than we are right now.
I know that the charts look promising, but in Bitcoin you may paint pretty much any pattern you want on charts and then do completely the opposite to that what the TA would say. 
Once we will be one week from Christmas, we can make much more educated guess whether we will be happy or not.

Seeing the progress of bitcoin price the recent year that fluctuating but last day reach $685 is so good for two months come back after it was go down to $450s. Overall bitcoin has potential to grow more than $700 in this year or next years, like you said, it's a good year and patience.

maybe this patience will finally be paid off for this weekend perhaps
i mean lot here i have read and most expect to go over 700 which will happen eventually today tomorrow or next week month never mater i just hope to see price go slowly up
also in some tread i read that someone would like to see also price change like in 2013 this was slow rise and then huge jump for two month

what you all think can we see this again

Well having patience will surely pay off.  That is always the best thing to do in every situation.  and about the correction, I think it will happen anytime soon before the price of bitcoin to push upward to 800 usd.  Hey it is very possible because there are more and more people getting in because of the mini hype brings by the increase in price to 700 USD recently.