Bitcoin Forum

This is a very important level... I'm sure we will either have a quick bounce up or another continued slow bleed down. I think we will test 400 again soon, what do you guys think?

can we have a neither option please

Neither as in??? I have added a sideways option...

I think it will test 300, but bounce back up again, to around 380. Then decline slowly again...
I guess that is kind of like saying "sideways" though

My reasoning is that it just keeps drifting downwards, after short rises. But on the other hand, 300 seems to trigger significant new buying activity - I reckon a lot of people think 300 is cheap. So I reckon it will just bounce along between 300 and 400 until there is some significant news event.

will test 300 ..afraid of its future.....

Don't worry this weekend buys should send us near 400

The next 48 hours are crucial.






 ::)

I think we will test 300 in 48-72 hours, after that nobody knows what's gonna happen next  :D

Doubt it, The buyers are coming in already... We just passed 360 & I see the buyers lining up, Doesn't look like we can break 350 yet

Next strong support level is below 150 as the rise from 100 to 1200 was quick.

I like how many members on here are now very bearish... Time to get greedy and load up some longs for the short term  ;)

 :D

Bullshit!









































They are critical.

 8)

Right now the market is oversold, so there's not much room down left. I expect the market to test 420$, but it may take longer than a week.
If the bulls have too little ammo left to break 420$ and reach at least 470$, the real bear party will start.

We want a bull party!

Well, $358 right now on Bitstamp.

Incidentally, Bitcoincharts is broken again. Their Bitstamp data is 3 hours old, and their Bitfinex  data is a week old.

(Remember that Bitcoincharts is a Mark Karpeles, of Mt. Gox fame, operation.)

What's happen? why bitcoin price is decreasing so much? anyway, i think that tomorrow price will arrive at 300$, and then will re-increase.  :)

I think it`ll hit $1 by end of this year.

Anything can happen in the next 5 minutes :P

In the last three weeks, the price has been briefly above $400 and briefly below $300. Right now, it's around $350. What's special about $350?

Well, if it drop below $350, people might just panic sell..

The panic sellers have brought us to 340 but we will have that lovely bounce soon

i think the question is why is 350 an important level. and the answer is, it isn't. until we break 265 I'm not sweating

Agreed. 265 is VERY important :P

Yes weekend can sink the ship to the bottom of the ocean. We all know what then wil happen. They did nto found Titanic for almost 100 years and will take 100 more to pull it out of the deep watter.

No actually 265 will be the level which people will start heading for the hills!!!

Ain't gonna lie, this downward trend is starting to concern me.

At what point does a Legendary member cut his loose..

Dude! Sarcasm emoji. Geez

That's worrying considering you must have seen this a few times before. Do you have a trading strategy for this scenario? 350 is long gone, today's bitstamp low is 319.9.

Would have been a steal to grab more at 320, I had my limits set above that  :-\ but honestly we can't break 300... Many people want to grab coins at that price, including miners!

If we go below the previous ATH, then some early adopters will be looking at losses.
But that could be good, shaking up this stagnant market and bring back the good old days of pump and dump.
The market has been held up my moronic bulltards trying to soak up the endless supply of mined coins, chanting choo choo as the price has slowly declined. Yawn.
If these plonkers get shaken out then the volatility can return and then there will be a reason to trade btc.

It has broken below 300 just not too long ago. Cost of production for small time miner has now exceed the return by long margin.

Not to worried like everyone said, around the $260 area is when I'll become panicked.
I only have 4btc right now so not to much to worry about.
Let's hope for the best and see this bounce sooner than we expect  ;)

That'll be for my nieces and nephews to decide. I'm hodling.

re: Trading strategy, I have none. I've been a miner for a few years now. To that end, I'm not sure if I see myself continuing to run my farm come New Year. Will probably shut everything down and sell it off (the rigs, not the BTC)

I take it you're not running profitably at the moment then?

What price does bitcoin need to fall down to before you start shutting down? I heard various prices required to mine a bitcoin here. I guess if you already paid for your equipment it comes down to how much you pay for electricity.

I'm waiting for testing $300 in 5-10 days.

Everybody is waiting for 'big' pump in November, what is the reason for this?

Yes because most/all shorts will be covered causing price to rocket to the moon! $300 has long passed.......

Yes, and ask says the 6th 3dMACD bar started GREEN today, which is a very positive indicator.

And why do you think so?

700+ in feb 2015 ;)

Just like it did on the 18th of October.  Been pretty bullish ::)

i think it will test 400$ level for a week or two
bitcoin doesn't seems too bullish this year

$50 steps are NOT important, doesn't matter if it is $750 $250 $850...

Most people only care about $100 steps, such as $400 $500 $600 levels.

That sounds really dumb, markets don't care about that... Resistance and support levels aren't built around round numbers just because they're said or typed easily! Point is 350 is so important!!! That's why we have touched 400 and we got near 300 but once again today we are right back at that 350 make it or break it level.

These are the facts. Around $350 is VERY important. This will either make or break bitcoin! Since last big drop was to 275 and this big drop we only got to 315, I see higher lows and I see these shorts about to get squeezed.

A higher low (at 315), yes. Looking good so far.

The harder part is the higher high: we'd need to break 415 for that.

There's tough resistance around 420.

But first, we need to get through this sucker:

https://i.imgur.com/1379JzI.png (https://i.imgur.com/1379JzI.png)

I agree to an extent: 350 is quite the key level.

Not 'make or break', though (bitcoin would be able to come back from another touch of $100 imo: yes it would suck and it would be horrible and it would take a while, but it could come back (and I'd have way more coins)).

Its hard to tell which support will hold or not. I would say the previous resistance at around $250 is very important and needs to hold.

Up 6% last 30 days.

I think it´ll try again for 400.

It looks terribly oversold.

I would say $266 better hold. If not: cheap coins indeed. At least noone can say we don't have capitulation then.

The market IS terribly oversold and highly shorted... Once these shorters get squeezed it will show up as buy orders and price will rocket to the moon.
To the guy above who said $100 can be hit and we will still bounce back... You're insane! Breaking the 300 level sustainably, meaning staying around 250, will have HUGE consequences like much of the system shutting down... a lot of miners leaving... a lot of destroyed investors leaving... no new money... bad publicity... the government and/or banks will then have a chance to come in and execute bitcoin once and for all  :'(

There´s just no volume! Think about it, today just Facebook stock will turn over like 3 billion dollars, 100X that of bitcoin. And Forex 5 Trillion. Obviously such thin trade and tepid volume is great for short sellers.

Also great for big buyers man... why do you only see one side of the picture??? If a few million get thrown into a bitcoin exchange prices would explode past $600 right now.

There are no big buyers, at least not enough to counter this persistent and grinding downward pressure we´ve seen. There is no volume. On the best days it´s maybe 50 million dollars which is chicken feed in financial markets. Today maybe half of that.

This time, the resistance will break. I have seen this kind of pattern over and over.

Can you name the pattern and give a historical example?

the lowest that can possibly be is 188 $ within 3-4 weeks, before we start moon phase.. thats what my crystalcryptoball says  :-*

pS: coins under 1K, are considered megacheapish...buy now or cry later

April-May.

hey man!

placing buy order accordingly.

Stay the course men. Bitcoin will rise eventually.

DING DING DING !!!


~ One more week to accumulate.

One week!?  :o

I'm hoping for another year to accumulate  >:(

Don't leave it too late, the price seems to be holding up for now.

http://s17.postimg.org/f8ofh32n3/price7.png

Here we go!! Hopefully we break 420!  8)

bitcoin break the level  of 350
but i think it will test level of 400

it will test the 380 at most.

Don't be too happy because you are not centimeters from the cliff. You still can fall

380 doesn't have much resistance, Don't just throw numbers out there... Most likely 400 will be tested and 420 might get hit, who knows!  ???

order fulfilled? Think we go up from here edit: sideways 1-2 months and then moon.
https://www.youtube.com/watch?v=ywIG-f5f9Sg

You got your wish :)

The good ole daze..

This looks very accurate, so far. I hope the recent low is able to hold, and then we get a big rally.

It will be interesting to see which resistance we have to break in order to be in a definite Bull market again. I think from this point reaching $500 is the first big step. After we go through $600 and $700, there'll be no holding back anymore!

Sure. At which point do you think we'll be entering a solid and sound bull-market again? Just going back to $300 levels isn't enough. $400? Nah.. don't think so. But going steadily towards $500 for a couple of months would be a very positive sign!

Bull market? After that little charade we just witnessed? This market is in firm hands now. London ate your breakfast and Wall Street is eyeballing your lunch.

Well we can't be going down forever. That'd be just stupid. Even bears wouldn't profit from a market that's only going down. If there's a chance for an honest and sustainable rise, they'll get on board. At some point there'll be a bull-market. But you're right, I'm not sure we're quite there, yet.