You should add $180+ and $40- just for the sake of those who believe in either of the extremes.
Here, you have extremes now  |
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Please share your opinion   |
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Could someone please tell me what is going on, I just came home. What caused this price drop and where the price is heading?
SR has been down and is coming up intermittently. SR users try to get their Bitcoins out ASAP and dump them at market because they can't get their drugs and have no other use for BTC. Thank you |
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Could someone please tell me what is going on, I just came home. What caused this price drop and where the price is heading?
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Next 12h are very important...
why? may day and all that? Indicators are screaming what are they screaming? IMHO $125 is VERY important, I will say just that, of course I'm not analyst and don't listen to me. |
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Next 12h are very important...
why? may day and all that? Indicators are screaming |
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Next 12h are very important...
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1. BitPay (or another subject with loads of coins to burn) shorting at the end of the month in order to buy in cheaper
2. 1st of May is labour day, banks are closed in many countries, people dumping because they expect a mini-weekend-dip-alike
3. Most "get rich quick" people are leaving the building after having gotten hurt by buying at 200+$
4. Bitcoin isn't the new cool thing anymore. Google Trends is in decline. Bitcoin got its 5 minutes of celebrity and now it's back to being play-money (notice how low the volume is if compared to March)
5. Others? Write your own or let me know if you agree with any of the above...
(disclaimer: I am long bitcoin and yes I hope they'll skyrocket but still I try to stay objective as opposed to delusional bull)
1st May - Labor day + 5th May - Orthodox Easter, in many countries first working day will be 6th May. |
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Currently we are below SMA 200
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We are going back to reality, just pick the flavor of reality you like.
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Firstly I would disagree that the market is on a down-trend, you would have to pick your start point very specifically to within a 10-day period out of over 1,000 to see a definite decline to the present price.
My view is that we are on a cautious uptrend, replacing the previous exuberant uptrend and interrupted by a 7-day correction compounded by a DDoS.
It's really hard to determine uptrend/downtrend, here within 1-month period it seems that we are nowhere, stucked in the middle.  |
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So, at one price, there is a wall thats about the size of an entire day of trading? You're trying to tell me that this isn't big? In order to overcome that, we'd need a day with a good amount of volume with just sells and no buys whatsoever.
No, I just noticed that since $266 bubble, it's almost completely normal to have BTC 175 000 daily volume. Take a look at that April 16 monster, it's BTC 572 185.69 tall... |
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During last couple of days, I listened to opinions of other people on Speculation board and also I did my own research. Even well know analysts have completely different opinion what will happen at the start of next week, some say it will be Black Monday, other say it will be Rally Tuesday. Where is the truth? No one knows... BTC market is currently in downtrend, only obstacle on it's way down is a wall at $120. One of the main arguments and main reason why some of the analysts are bullish is $120 wall, they say it's too big and that we will bounce up. But let's ask ourselves how really big is that wall? His current height is BTC 27 260... Is that tall enough? Now take a look at those daily volumes and tell my what you think?  |
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I hope that you are aware of MtGox statistics:
30-day Volume: 4,714,294.44347162 BTC
30-day Volume (Currency): 535,113,600.90 USD
Good luck, but honestly I think it will be like paddling with spoons on Amazon river.
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Here comes the panic again? Fun times! I'm going to buy a crazy amount of coins at $100 if it gets there.
Doubt it will do that, there's the great wall of China @ 120 Who knows maybe it's the Great Fake Wall of China |
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 Here is the comparison of Google Trends for the term "buy bitcoin" and Mt.Gox price in the period of the last 90 days. These two graphs are following the same pattern. Can we say Google Trends is a good measure of how many NEW interested buyers are coming to BTC market? I don't say that this is a good prediction tool, but on the other hand, it's a good additional tool for making decisions, because it puts more realism by removing big fish speculators noise from the graph. |
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