I really would like to know how you arrived at your conclusion. I mean it could happen and bitcoin could go back to 3000$ but that doesn't mean your calculation was correct.
I picked 3K because it was the last significant horizontal support - the crash likes to end at previous horizontal supports (after wiping out 90% of gains). The support at $5K was too short and not low enough. I really wanted to pick the $2K support but because of how much Bitcoin has changed and matured yada yada and mainly because of how slow the rally has been, I'm ultra-generously giving it 3K. Its going to be phenomenal when we end ONLY at 3K at preserve an entire 200% gain like never before. Theres a small chance of 5K too, I guess, since there WAS a support there. I'd say it's dropping to AT LEAST 5K, PROBABLY 3K, and possibly 2K. |
|
|
|
|
Calling these corrections is not based on the financial system. It's based specifically on bitcoin history which is even more brutal.
|
|
|
|
|
Just pay your god damn taxes.
|
|
|
|
|
Looks like doge wants to break out.
|
|
|
|
|
A crash is when 80% of the value is lost. By the time you know you're in the crash, it's too late.
|
|
|
|
|
You might see it on a small exchange that has a flashcrash that wipes out the entire book... Good place to put an order. But not on a big exchange.
|
|
|
|
|
Beacuse we've been here and seen it happen many times before. It goes up TOO FAST with too many daytraders. So when it finally drops it starts a snowball effect of everyone stopping out or being liquidated, the bears take over, the FUD starts, mom and pop get out, the EXCHANGES BREAK, bitcoin is dying. PANIC plunges it deep below wherever the mean has shifted to, which was way below the ATH to begin with. When you have a logaritmic scale gain, you have a logarithmic scale retracement. EVERY bitcoin increase has been followed by a momentary wipeout of nearly all gains. Even the little intermediary rallies have them. I personally welcome these as a chance to trade and increase the stash of coins. It would be boring if it only went one direction and I would not have increased my coin stash by 4,000%
|
|
|
|
|
Thatll work if this keeps up. These are just tiny movements from small timers and day traders and the natural frothiness of being at this level. Just wait till the real players with 1,000 , 10,000 , or 100,000 coins start dumping, and everyone decides it isnt such a good idea anymore.
|
|
|
|
Gotta love this. It corrects down by $1.3k and bounces right back up by $1.15k all within a few short hours. Less than a year ago we were only dreaming of reaching 4 figures. Now a grand is a couple of hours' swing. A year ago, $50 was a "leg up". Now it's the spread between a high bid and a low ask. It's a whole new ball game. Pity the luddites and dinosaurs who are stuck in 2013 thinking and TA. They're just wallowing deeper into the tar pits. Keep up or get left behind.  Youre right that now $50 is the slippage on Bitstamp. But one year ago we were already at 4 figures. Actually we reached 4 figures 4 years ago. |
|
|
|
|
I dont know how high it will go but that is how low it will go. Just a humble call made purely via pattern extrapolation. Since you so strongly believe it will not happen, that is exactly why it's going to happen. I have no further arguments.
|
|
|
|
Looks like a good time to buy bitcoin??
You can scrape some more gains out of this rally but only if you can manage sell before the drop to $3K. Says the man who sold their bitcoins accidentally  I didnt sell accidentally. I had a stop at 11400 and then it went to 10200. Who says I didnt rebuy even more coins and now have a new stop/strategy? It is you guys who are on another planet if you dont think a 1000% gain is going to see some kind of retracement. Historically all bitcoin rallies retrace to erase about 80% of their gains momentarily. $3K is actually quite generous of a figure. ITs so far away from $1K Yeah, no doubt you had a good rebuy opportunity, even right now. But calling 3k after it was weird I didnt say $3K is going to be hit now, only eventually. It could hit $15K before it hits $3K. I dont talk my book because I dont think what I say in a little forum is going to affect a $200bn market. |
|
|
|
Looks like a good time to buy bitcoin??
You can scrape some more gains out of this rally but only if you can manage sell before the drop to $3K. Says the man who sold their bitcoins accidentally I didnt sell accidentally. I had a stop at 11400 and then it went to 10200. Who says I didnt rebuy even more coins and now have a new stop/strategy? It is you guys who are on another planet if you dont think a 1000% gain is going to see some kind of retracement. Historically all bitcoin rallies retrace to erase about 80% of their gains momentarily. $3K is actually quite generous of a figure. ITs so far away from $1K |
|
|
|
Looks like a good time to buy bitcoin??
You can scrape some more gains out of this rally but only if you can manage sell before the drop to $3K. |
|
|
|
|
When's the next Jamaican dogesled team?
|
|
|
|
|
Why is it you can only see half the book on Finex now
|
|
|
|
Holy crap woke up and my stop was hit at 11400
Hey Tera out of curiousity did you get out at 11400 or have slippage? It executed at 11384.25 Thanks - deleted my prior post because I screwed up the formatting. Did you pick 11,400 as resistance point for the stop? No sorry I picked 11394. So that was a pretty impressive execution for Bitstamp. |
|
|
|
Holy crap woke up and my stop was hit at 11400
Hey Tera out of curiousity did you get out at 11400 or have slippage? It executed at 11384.25 |
|
|
|
 Holy crap woke up and my stop was hit at 11400 |
|
|
|
|
Show Posts
