AH GOOD MORNING FOLKS
I woke up, made my cup of coffee, decided to have a look at the charts, to check if i predicted right, that the bitcoin is currently way overvalued, due to greed,
and hooooraah
a 25 dollar decrease, , and lowering
SO
Are we in a bear market?
that graph shows that perhaps we're in the midst of one
(SMOOTHIE, please dont comment on my post, you troll posts aren't welcome here, we all know you mortgaged your house and then bought bitcoins at 255 dollars)
Whats your point of view?
Bear
Nope in my opinion we're not in a bear market. I tried being bearish but resistance keeps being broken, bearish channels don't work. We're still following up trends dated from before the price crash. Its a bull market and it has a long way up still to go. |
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Tesla, you are right. But the ideological allure of a "crypto" currency, i.e. the anarcho-libertarian wet dream of decentralization, is the one aspect that most assuredly won't be part of the digital currency that ultimately becomes successful. That's why so many folks are butthurt. Infrastructure is necessary and the deep pockets necessary to maintain it - the kind that can only come from state sponsorship of some sort or shape - is becoming more and more obvious. Without it Bitcoin remains a fringe speculation game with two-bit exchanges seasonally arising and dying and wild-west-style robberies remaining the norm. The only paradigm-shift I see coming from "crypto" currency, is that the state sponsorship needed to maintain viability and confidence in the currency may shift from that of the nation-state to a corporate entity. It will serve to make direct the dynamic that is, in effect, already in place.
Don't any of you find it ironic that the results of Bitcoin debacles (like Bitcoinica and others) has been for the victims to seek the courts' help for redress? Is that begging for oversight and regulation, or what?!
If a state or corporate sponsered currency does dominate that will be the globalist 'new world order' dream come true. I will resist that even more than the current fiat system. Those who run to the protection of the state at every turn need to wake up and fast. |
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Theres no proof that theory is valid though, big bang is a myth. There are quasars with massive red shift in front of nearby galaxies. |
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Going to have to go, supposed to be working!  Will leave this thread to do what it will. |
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Thanks for that chart arepo  RSI looks pretty bullish I'd say |
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Great thread |
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some constructive criticism: this channel isn't very good. at least you have two points, but you need more for a 'robust' line. the reason for this being that a line needs only two points to be defined. that means, there will exist an arbitrary line across any two 'peaks' or 'dips'. in your picture, this is exactly what you've done. for more robust lines, look closely. try to find a line that has three points of contact or more. hope this helped --arepo Hehehe I can see why you think my line isn't really valid based on the chart I shared here, (click the link in my sig if you want my full analysis ) On a three month chart that top line has at least 5 points of contact. Three as support and now 2 as resistance the last two which you can see above. The lower line is one I hoped would be validated (and looks like it is being.) got the fuller picture -- very good analysis, my apologies. very cool how supports become resistances. if you'd like, i've come to similar conclusions about the trend by identifying patterns in the RSI, and William's %R oscillators, you could take a look at my "arepo's" analysis thread. I'll check out your thread, I'm always interested when I see similar conclusions based on different types of analysis |
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some constructive criticism: this channel isn't very good. at least you have two points, but you need more for a 'robust' line. the reason for this being that a line needs only two points to be defined. that means, there will exist an arbitrary line across any two 'peaks' or 'dips'. in your picture, this is exactly what you've done. for more robust lines, look closely. try to find a line that has three points of contact or more. hope this helped --arepo Hehehe I can see why you think my line isn't really valid based on the chart I shared here, (click the link in my sig if you want my full analysis ) On a three month chart that top line has at least 5 points of contact. Three as support and now 2 as resistance the last two which you can see above. The lower line is one I hoped would be validated (and looks like it is being.) |
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Betamax was a superior technology than VHS but it never took off
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I'm a bull, but I think that support line is pretty baseless.
I agree, thats why i put the word 'hope' in there. It does look like a nice bounce has happened off it though. |
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 Its looking more and more like we are back on the uptrend. Me thinks no crash, bull mode on. |
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Buy and hold. Bitcoins is on a long term uptrend, theres no reason to think thats over, just think a bit longer term.
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I might aswell chime in. Obviously I'm a fan of technical analysis. I've never called it a science, I don't think many people would. Its price forecasting, in a way a bit like weather forecasting. The price chart is a picture of the market, without knowing anything else you can see a lot just from that line. Patterns crop up in charts just like they do all over nature, you can look at these patterns and combine it with your feelings on the overall market trend, your gut instinct, wave your hands oversome tea-leaves and make a forecast. It is freaky how often the price ends up bouncing more or less exactly where you thought it would though.  |
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It could go below $100 from a technical viewpoint, the floor of the long term rising trendline is currently about $20 or $30 or somewhere in that region. For me that is the minimum it could go to assuming the bitcoin cryptographic technology remains solid. The weak point is the exchanges specifically MtGox, if they encounter repeated serious problems, hacks etc then i could see the price go below $100.
However bitcoins seem to have weathered this last crash remarkably well. In fact I have changed my short term outlook back to BULLISH, I'm thinking we might see new highs sometime in July.
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I put $2000 to $5000, I'm starting to feel bullish again  |
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I reckon bitcoins will be worth a lot more than $500 in time, just not by mid-July
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Brave call, I'm slightly concerned this bull move could be a dead cat bounce in which price may end up nearer $50 than $500
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I've just been spammed by this email too I suppose the best policy is just to ignore |
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Not sure how it landed here but i found it interesting. I was frustrated for a long time trying to buy in UK. In the end I found localbitcoins.com to be pretty good. Although prices are often very far from what larger exchanges are offering.
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Gold is such a poor investment choice and has so little value in real terms (except the value that the market places on it). We have no idea what the limit is on gold. We do not control the supply. It's practical uses in electronics give it a super tiny fraction of value compared to what the market places on it. It's shiny, so ancient people desired it as a symbol of wealth, and that still lingers today.
Bitcoins bring the possiblity of a structured currency like we've never seen before. I would take bitcoins as a long term investment over gold any day. Actually, I would rather invest in matches or bricks over gold. At least those don't have some super unrealistic value placed on them.
Gold is shiny forever though! you can bury it for 10 thousand years then put it in the sea for 10,000 years then spend it. Also it is fungible n stuff. |
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