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correct. 2$ is very strong as support and may spark a reversal.
but on the other hand, I would not bank on stable prices. This ain't gonna happen. if a bounce occurs it will be massive and easily make 50-100% upside progress within hours.
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I agree with cypher.
It is not about if, but when a short squeeze or short term big bounce up happens. Sentiment is perfectly set up for it, as most people firmly believe they can get bitcoin much cheaper, and will be surprised if the market runs away from them..
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agree with you. Elliott waves, if properly understood and used, can provide an edge.
Coming back to bitcoins, it seems that there may be another drop needed, probably taking out the 2$ mark and spike down hard before at least a short term bottom can be put in place.
And if there is not another low soon, chances increase that a big bounce up happens soon , forcing short sellers to cover quickly. |
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agree with you. Elliott waves, if properly understood and used, can provide an edge.
Coming back to bitcoins, it seems that there may be another drop needed, probably taking out the 2$ mark and spike down hard before at least a short term bottom can be put in place.
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I won't comment on the Elliott wave discussion, because everyone can decide themself to use or not use it, as for any other tool.
But coming back to the technical analysis, the downtrend is intense and inexperienced traders should be careful buying now .
They may be lucky to pick the bottom, but most probably not.
It would not be surprising to see another huge capitulation sell off drawing bitcoin prices well below 2$ and maybe even below 1$.
There are some expert traders in the game using big short selling etc.
Its a wild ride.
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and th economic downturn is hampering their pricing power
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could be.
And on top, the economic downturn hampers their margin expectations
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am curious to find out this news soon..
would be great to know the exact date and time
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bitcoin prices will make another low at 60% probabilty and the buy trigger is quite far away: now 4$.
Any buying now carries the risk of catching a falling guiliotine knife.
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Agree with you.
And then bitcoins move from medium-niche-on-track-to-become-mainstream to: mini-niche
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this is correct.the long term trend was up until it broke 2 days ago and now all trends are down hard.
I wonder what is going to happen if bitcoins are ruled a currency by the European officials this week / related to th magicaltux case.
This could be a bloodbath for bitcoins.. I hope it won't but its a possibility.
if it I made illegal to trade and exchange without having a banking-type license prices would crash much more than they already did
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the 426.7 $ top yesterday will likely be the top that will hold for years to come. island reversal gap down tomorrow.
this was it for Apple stock for a very long time
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you are right, all trends are down now
Holy shit guys, for the first time in the history of Bitcoin S3052 is saying BTC is loosing value, this can only mean one thing....it's going up.... BUY BUY BUY! do your research. |
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I agree with you.
At the same time, traders will remain in the game. the more volatile prices are, the more it is interesting for them
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perhaps this is some institution trying to crash bitcoin prices to a level where many turn away from it.. and we see the media already jumping on this bandwagon and declaring its dead.
so far they are very successful
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bump..  |
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I suspect this is someone who is trying to sell = unload a lot of coins, trying to hold the market up so that he can complete his selling
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The analysis is referring to the technical condition of BTCUSD only. all technical patterns point downwards.
We will alert subscribers once we see a short, mid or longterm trend change
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