We are now stagnant, which way will we go afterwards?

[BitchicksHusband]

I took out my purchase cost a few hours ago by selling some coins...  *not including my Casascius coins which are deeply in the money and which I may never sell.  I still have a bunch (most) of BTC/profit in this market.  The next time it dips significantly I will buy some more and repeat the process.  Wash and rinse until it doesn't work anymore or the price is ludicrous. 

See?  Now here is a reasonable bear that I can respect.

[windjc]

It appears that arrangements of daily candles like this during previous bubbles result in a correction bouncing off of the daily long ema (now $300).

Consolidation at or near highs has resulted in corrections bouncing off daily long ema? Can you give some examples?  Consolidation at highs, especially those forming a triangle typically are bullish.  This consolidation does not have the typical arc or time period associated with other corrections I have seen.

Can you show me which ones you are referring to?

[aazssx]

Down to $300-$350, rebound after the weekend.

[Chainsaw]

Bitcoin loves to surprise. The market adapts with surprising speed.

There is a significantly greater-than-average number of posts assuming the "weekend crash" is inevitable.

I think we've been in a holding pattern as everyone is waiting and watching to see if that's true. Waiting for it to go down so they can buy back in.

Which is exactly why I don't think it's going to happen.

I speculate that sometime, before this weekend is over, the next upswing occurs.
In concrete terms - we're rising above $500 (and holding) before midnight on Sunday.

[mgio]

I've been selling some of my coins, 50 a day for the past 4 days now. Not that I think it's going to crash but Bitcoin is INCREDIBLY risky and  an all-time high is a good time to take some profits.

[Chainsaw]

Agreed. With a withdrawal strategy based on predefined sell points, new all time highs are the only time that sales occur.

[Xer0]

Holy shit...it stopped moving for what a couple of hours?
Relax....ffs. It doesn't have to be constantly ranging up or down.

but that's Bitcoin 

[PumpkinCoin]

I took out my purchase cost a few hours ago by selling some coins...  *not including my Casascius coins which are deeply in the money and which I may never sell.  I still have a bunch (most) of BTC/profit in this market.  The next time it dips significantly I will buy some more and repeat the process.  Wash and rinse until it doesn't work anymore or the price is ludicrous. 

See?  Now here is a reasonable bear that I can respect.

I'm not a bear.

I'm agnostic on the future of BTC.  It would seem to turn into something monumental but could easily be derailed into something ultimately trivial.  Meanwhile, I think BTC goes over $1k in the next few months.

I have no idea what the ultimate highs are.  I would rather just throw some money at it on the corrections and see what happens.  Maybe that's just how I justify it in my head.

[ajw7989]

I am very cautious now with the current price. I personally think it jumped up way too high way too quickly to be stable. If this happened over the course of months ok but 40-50 a day is not reasonable for stability purposes. I am sure a lot of people are like me though and once it pops people will buy so do not expect it to dip too low. I dont think it will go lower than 200 maybe even 300.

[BarkinTree]

I am very cautious now with the current price. I personally think it jumped up way too high way too quickly to be stable. If this happened over the course of months ok but 40-50 a day is not reasonable for stability purposes. I am sure a lot of people are like me though and once it pops people will buy so do not expect it to dip too low. I dont think it will go lower than 200 maybe even 300.

the question for me is what happens after the first bounce. i think we will deff bounce > previous ATH, maybe 300 or so, but i think we will see a down channel after that. i just wonder if we'll see a double bottom there or if support is not robust enough. sure, lots of people want to buy coins. but lots of people want to buy them a lot cheaper too.

[fleabag]

Holy shit...it stopped moving for what a couple of hours?

Relax....ffs. It doesn't have to be constantly ranging up or down.

lol

[phlogistonq]

There is a significantly greater-than-average number of posts assuming the "weekend crash" is inevitable.

I think we've been in a holding pattern as everyone is waiting and watching to see if that's true. Waiting for it to go down so they can buy back in.

Which is exactly why I don't think it's going to happen.

No, that is exactly why it is highly likely to happen.
All the sheep want to try to gain a few coins in the dip, and will mass sell during the selloff hoping to buying lower.

Also, this rally has attracted a lot of new people, so the effect of 'old'-timers adapting is reduced.

[PumpkinCoin]

There is a significantly greater-than-average number of posts assuming the "weekend crash" is inevitable.

I think we've been in a holding pattern as everyone is waiting and watching to see if that's true. Waiting for it to go down so they can buy back in.

Which is exactly why I don't think it's going to happen.

No, that is exactly why it is highly likely to happen.
All the sheep want to try to gain a few coins in the dip, and will mass sell during the selloff hoping to buying lower.

Also, this rally has attracted a lot of new people, so the effect of 'old'-timers adapting is reduced.

dudes picking up a couple of coins because of the news would prolly just buy as soon as they could- as soon as their account is turned on- regardless of technical conditions.  I would also postulate that they would tend not to trade in and out of their coins and would just hold come hell or high water or until they bored whichever comes first.

[lucaspm98]

Calm down. Personally I believe it will go down somewhere between 200 and 300 then shoot back up to new heights, but even if it doesn't come back up it will still higher than it was a few weeks ago. It just isnt possible to double in value every few weeks, so dont except it to shoot up in a straight line constantly. In the long run they will probably rise. Buy/mine and hold has been the most profitable strategy so far and I'm confisent it will continue to be the best option.

[Rupture]

To the moon! 

[Xer0]

and beyond!

[AndrewWilliams]

Christmas is around the corner 


Believe in miracles!