You Wanted Rock Bottom, You Got It. April Speculation. | WSC Team

[alpha492]

http://www.wallstreetcrypto.net/2014/04/you-wanted-rock-bottom-you-got-it-april.html

Its been awhile since we've been able to get something up, but lets hope April is a bit more kind then the passed few months.

[zimmah]

nice analysis

[jamesc760]

This ($400-$600) is the New Normal. Until 2015.

[UnDerDoG81]

Nobody can ever make a prediction about BTC. Not even fot the next day. Learn it 

[RyanMilligan1]

Nobody can ever make a prediction about BTC. Not even fot the next day. Learn it 

Couldn't agree more. There is factual knowledge and educated guessing. You can only ever make educated guesses with Bitcoin.

[zimmah]

Nobody can ever make a prediction about BTC. Not even fot the next day. Learn it 

Couldn't agree more. There is factual knowledge and educated guessing. You can only ever make educated guesses with Bitcoin.

with any investment and currency pair, in fact. It wouldn't be speculation if it was a known fact.

Bitcoin is not more unpredictable than other stock, the swings are bigger, yes, but the price does follow quite noticeable trends. Long, short and midterm trends

[jamesc760]

Everybody can make predictions on everything, including btc. It's the degree of accuracy that counts. I've been predicting $400-$600 range all along. Learn that.

[atp1916]

775-825 stabilized by the end of the year.

[zimmah]

Everybody can make predictions on everything, including btc. It's the degree of accuracy that counts. I've been predicting $400-$600 range all along. Learn that.

it won't stay in this range much longer though

[Cassius]

Think I've understood this and generally agree with it, but some clarification would be good as I think a couple of points were a bit confused.
We've already hit $420, which is the support you say was established a few months back. However you seem to be anticipating a further retracement to this level (and below), since this is your target buy price.
What does it mean that the $420 mark was so significantly breached, albeit for a short time? And the fact that your buy target is some way beneath it?
Just seems like there's some loose ends to tie up there.

[alpha492]

Think I've understood this and generally agree with it, but some clarification would be good as I think a couple of points were a bit confused.
We've already hit $420, which is the support you say was established a few months back. However you seem to be anticipating a further retracement to this level (and below), since this is your target buy price.
What does it mean that the $420 mark was so significantly breached, albeit for a short time? And the fact that your buy target is some way beneath it?
Just seems like there's some loose ends to tie up there.

I'd expect minor capitulations to the 420 range on the way up, 420 would be my great entry target 450-460 would be a more risky but far more likely target.  I always say don't take a trade you don't love.  I'd rather miss an opportunity than take an overtly risky entry.

I ended up buying at around ~400

[alpha492]

Everybody can make predictions on everything, including btc. It's the degree of accuracy that counts. I've been predicting $400-$600 range all along. Learn that.

Typically the sentiments that markets are controlled by unforeseen forces or are entirely unpredictable are held by those that have been unsuccessful.

I'd say there's definitely a parallel between ancient civilizations attributing every plague to 'god didit' and poor traders attributing their problems to 'whales didit'

Its a cop-out answer to a problem they're unable to solve.  We have a great tutorial on the site and even with a limited understanding of TA most people can become successful traders in cryptocurrency markets.

[alpha492]

Nobody can ever make a prediction about BTC. Not even fot the next day. Learn it 

Go back in our speculation archives, we've been pretty successful in month intervals.