Bitcoin Price Decline To Support

[Kazimir]

what does this Support mean? sounds like some group that buy at that price no matter what... but i guess its not so, so what is it ?

Nothing. It's mumbo jumbo that members of the technical analysis cult tend to throw at eachtother, trying to misguide pure speculation as fake insight or knowledge on price development.

It's almost hilarious, this voodoo involving "fibonacci retracement levels", "support" at completely arbitrary levels, "trends" based on random intervals, or "corrections" and whatnot.

If their prediction method actually worked (even the slightest bit), people would be making shitloads of money with it, rather than trying to influence or convince others on forums.

[uki]

Bitcoin price entered an unimpressive decline today after days of setting up the move. It may be a slow start or we may be seeing price bottom out near 1500 CNY and $240. At the time of writing price is resolving a correction near 1510 CNY and $244 from where it should make the next drop to a supporting trendline below.

Read here: https://www.cryptocoinsnews.com/bitcoin-price-decline-support/

pretty much worthless analysis. May go up or down. Sure it may. But which way and when that is the question!

[MF Doom]

Bitcoin price entered an unimpressive decline today after days of setting up the move. It may be a slow start or we may be seeing price bottom out near 1500 CNY and $240. At the time of writing price is resolving a correction near 1510 CNY and $244 from where it should make the next drop to a supporting trendline below.

Read here: https://www.cryptocoinsnews.com/bitcoin-price-decline-support/

pretty much worthless analysis. May go up or down. Sure it may. But which way and when that is the question!

You can find "analysis" done that predicts up, down, sideways...doesnt matter.  There is not enough market history, and not enough answers (when it comes to things like mt gox) to accurately predict btc price.  And at this point no one has consistently produced predictions or analysis, so its safe to say dont listen to things you read online, and ESPECIALLY on this forum about price movement.

[uki]

Bitcoin price entered an unimpressive decline today after days of setting up the move. It may be a slow start or we may be seeing price bottom out near 1500 CNY and $240. At the time of writing price is resolving a correction near 1510 CNY and $244 from where it should make the next drop to a supporting trendline below.

Read here: https://www.cryptocoinsnews.com/bitcoin-price-decline-support/

pretty much worthless analysis. May go up or down. Sure it may. But which way and when that is the question!

You can find "analysis" done that predicts up, down, sideways...doesnt matter.  There is not enough market history, and not enough answers (when it comes to things like mt gox) to accurately predict btc price.  And at this point no one has consistently produced predictions or analysis, so its safe to say dont listen to things you read online, and ESPECIALLY on this forum about price movement.

Agree on that. Even, the most 'scientific' threads on this forum on the price prediction seem to miss the point about not having enough data to correctly assess the behaviour of Bitcoin, e.g., https://bitcointalk.org/index.php?topic=831547.0 (see the links there for more similar topics as well), let alone the daily 'going to the moon/zero' threads.