Positive divergences in both the hourly RSI and MACD. Combined with the crazily massive OKCoin buying volume, it's time to make up some bull FUD.
Bull FUD in an oxymoron, there can only be bear FUD. I give the bulls about 10 days to recover and break resistance at 420$, if not...  |
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The "greater fool" works both ways, up and down. It helps with the price discovery, but induces large distortions.
Maybe we have just run out of greater fools? No, in an efficient market the price would have slowly risen to about 100$ by now. Bitcoin price is bubble after bubble, no chance to change that. |
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It's not greed, it's fear. Greed worked during the mania phase of November - December 2013.
The "greater fool" works both ways, up and down. It helps with the price discovery, but induces large distortions.
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@wobber: Most of the large ones are sub-sub-waves of wave C. Some smaller are sub-sub-sub waves, others don't matter due to low volume.
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Nice buys on Okcoin, this could be a local bottom.
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According to a rough timeline provided by city officials, in the days before Spencer fell ill, he went on a 3-mile jog, went to the High Line park, rode the subway and, on Wednesday night, got a taxi to a Brooklyn bowling alley. He felt tired starting Tuesday, and felt worse on Thursday when he and his fiancee made a joint call to authorities to detail his symptoms and his travels. EMTs in full Ebola gear arrived and took him to Bellevue in an ambulance surrounded by police squad cars. Holy Complications Batman Rode the subway... that's going to be impossible to track... now just wait until more become ill and spread it before being isolated... bugger...  |
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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$, the real bear party will start.
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Launch pad got some cracks, but it's not yet over for the bulls, they will have another chance soon. If they will fail, then the real bear party will start.  |
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 Bitcoin/USD, last 3 months. Any questions? Bitcoin is over. If you're not out, get out. The last ones to leave will be the worst off. I've been saying for months that this was a speculative bubble, a pyramid scheme. I said that when bubbles pop, they pop all the way. There were replies like "troll" and "hater". "The bitcoin's value will inevitably increase." (Bazil). "Regular use of Bitcoins will pick up pace, it's inevitable." (Goodlord666). There are still people writing comments like that. I was right. You were wrong. Now suffer. Lol how wrong you were long term. He was right on the short term. From 4.2$ on the 9th September to 2$ in October. I fixed the chart, so people better understand what he was talking about. The lesson to learn is that even with Bitcoins' killer app (Silk Road), the bubble still had to deflate a lot. PS. In the bearish scenario, 9th September 2011 is IMO similar to the 6th October 2014. The rebounds were even stronger back then. |
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@lucif
I can certainly see another (minor) breakdown in the coming weeks, but I'm wondering why you said earlier that you think hitting 360s would make it a bad picture for the bulls?
To me it looks like we could go all the way to ~340 for a re-test, and it would look a lot like April 16 to May 19 earlier this year. (Of course it would only be similar if there is good support at that level)
Sorry for the unsolicited answer, but the comparison with April 16th to May 19th doesn't make sense to me. In the bullish scenario (with 275$ THE bottom) I am looking at about 9th July 2013, in the bearish scenario I'm looking at about 5th August 2014. Bearish scenario will be invalidated if 420$ resistance will be firmly broken. |
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Thanks! But, of course, now big traders will immediately implement their algorithm, and that will make it ineffective.  Thanks Walsoraj, I'll look into it, although it's not an easy read. I doubt that it will become ineffective if large traders implement it, I believe it should speed up the market by increasing volume. |
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Next halving, but it's August not March 2016.
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I wonder what will happen with the Huobi bid wall, because this correction should test support at 2200.
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@PrestonTrader: I voted earlier 390$ for Monday's price.
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I doubt sha256 will be broken anytime soon. Maybe Chinese exchanges getting hacked badly or shut down by the PBoC.
But this wouldn't be in sync with the market, the bad news usually come when the market is primed for a correction (and it's not now).
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@JayJuanGee: May your dream come true... Now seriously, for the price to go to 0 there would need to be a catastrophic news, I have no idea what that could be. When the Gox press release resulted in a mass panic on BTC-E, the price fell only down to 102$, so there should be something much worse. |
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...
Necro'd for re-relevance. $1,000 isn't out the question by Jan 1st, and the OP didn't specify a year...
I remember when everyone was certain the rise to $4,000 - $5,000 would come by the end of this year. Amazing how much sentiment has changed...
Not everyone. And during April 2013 some were sure that price will rise to 10k$ soon, during December 2013 more were sure it will rise to 40k$ soon. The OP implied January 2012, and he was very wrong. Just like those who now still believe it will rise to 5k$ by 1st January 2015. |
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Published on January 2, 2014 Poor delusional souls. Take your profits when you can, keep a small chunk on the rare case it goes over $1k again. you fool! price will go well over 1000$ Keep repeating this Adam, eventually it will become true. But in the bullish scenario it could take over 1 year, in the bearish even longer. There are no more bull-bots buying with fake fiat, China is not available for a mania phase and new bag-holders will be hard to find. |
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