Beginning of a reversal?

[keithjenkins]

At OP, which trading software or website is the picture from?

[thejaytiesto]

At OP, which trading software or website is the picture from?

That is https://www.bitcoinwisdom.com
You can have a MACD and draw all kind of lines, Fibonacci etc.. i wish all exchanges implemented that style and not some simple ass graphics.

[Bit_Happy]

The fundamentals are way too strong for a big push down, so eventually we are going much higher.
You could say (for example) that for the first time in history Bitcoins are actually worth* over $200.  

*Edit: Based on fundamentals, not just the speculative price.

Can you name these fundamentals that keep the price above $200.
Just to check, if we are on the same page.

Sure, Bitcoin has:
A truly powerful, secure network,
Multiple types of encryption which (as far as we know) are impossible to crack,
Investors pouring many millions into Bitcoin companies, and
An amazing story, part of which is still unwritten.

Those are a few, certainly there are more.

[keithjenkins]

At OP, which trading software or website is the picture from?

That is https://www.bitcoinwisdom.com
You can have a MACD and draw all kind of lines, Fibonacci etc.. i wish all exchanges implemented that style and not some simple ass graphics.

Thanks a lot. I have been looking for something where I can draw lines.

[Bit_Happy]

returning to the previous pump(300)? or just the usual little mini pump of the weekend?

who know, but as long as the 200 barrier hold, i'm fine with the current situation, steady grow is always welcome

regarding the title i am referring to the larger bearish picture for 1+ years. Seeing signs that this last final wetbeardream push down to double digits may not actually take place.

The fundamentals are way too strong for a big push down, so eventually we are going much higher.
You could say (for example) that for the first time in history Bitcoins are actually worth over $200. 

if i remember correctly on april 2013, bitcoin surpassed $200, it went to 230, so this is not the first time

I ment value based on fundamentals, not the speculative price. Are Bitcoins finally "actually worth" over $200?

well yes, you should know that bitcoin is really undervaluted right now, and it was undervaluted even at 1200 peak, let alone at 200..

"Undervaluted" seems obvious considering Bitcoin's potential, but we still have Gox in bankruptcy, the missing coins possibly not "missing", a bad reputation in some/many places, and the threat that "Satoshi" might start selling someday. Both the Bulls and Bears will get to have fun.

[galdur]

Well, bitcoin hasn´t seemed to be on the verge of the next collapse for almost three months now which I view

-tentatively- as a promising sign. It seems to have a pretty solid support at 240-250.

The main problem as before is no volume to speak of on "exchanges" that no meaningful capital takes seriously.

[lebing]

At OP, which trading software or website is the picture from?

https://cryptowat.ch

[uki]

The fundamentals are way too strong for a big push down, so eventually we are going much higher.
You could say (for example) that for the first time in history Bitcoins are actually worth* over $200.  

*Edit: Based on fundamentals, not just the speculative price.

Can you name these fundamentals that keep the price above $200.
Just to check, if we are on the same page.

Sure, Bitcoin has:
A truly powerful, secure network,
Multiple types of encryption which (as far as we know) are impossible to crack,
Investors pouring many millions into Bitcoin companies, and
An amazing story, part of which is still unwritten.

Those are a few, certainly there are more.

But these are the same fundamentals we had when the price was at $50 and at $1200, right?
My point is, there was not much of fundamental developments happening in the last two-three years, at least not enough to justify the nearly exponential rise, Bitcoin was experiencing. Thus, most of the price action is based entirely on speculation and one cannot claim that fundamentals will be able to keep us at $200 level, as with the fundamentals you named, we already were at $50 as well.

[uki]

bitcoin is in a huge bubble doesn't worth $200, sub $200 incoming and a flash dump to sub $150 can be expected

anything to support your statement? Looking at the charts, the last bubble has been burst already and we are now in the post-bubble territory. Moreover, we already have been to sub-200 territory before and nothing bad happened. What makes you think this will be the one? 

[ensurance982]

The fundamentals are way too strong for a big push down, so eventually we are going much higher.
You could say (for example) that for the first time in history Bitcoins are actually worth* over $200.  

*Edit: Based on fundamentals, not just the speculative price.

Can you name these fundamentals that keep the price above $200.
Just to check, if we are on the same page.

Sure, Bitcoin has:
A truly powerful, secure network,
Multiple types of encryption which (as far as we know) are impossible to crack,
Investors pouring many millions into Bitcoin companies, and
An amazing story, part of which is still unwritten.

Those are a few, certainly there are more.

It's completely obvious that BTC is mainly driven by speculation these days. The mere ability to short Bitcoin since 2013's bubble has made being a bear so much easier: You can make money off of falling prices - on leverage!!!

[srgkrgkj]

honestly how many people believe in the technology that bitcoin stands for ! Panic at drops currently shows everyones in it for the fiat which is a bit ironic if you ask me

[Amph]

honestly how many people believe in the technology that bitcoin stands for ! Panic at drops currently shows everyones in it for the fiat which is a bit ironic if you ask me

i'm sure rich guys are here because of the tech, i mean they are already rich they shouldn't care too much about money made with bitcoin(there must be some exception, some greedy rich guy, i know...), while poors are more here for a quick buck

but i agree that those who are here for the tech belong to a very low %

[lebing]

Looks like DanV (one of the famous charters way back that people said were crazy that we would hit these levels) is now saying that there is a good chance we have a mid term rally.
https://www.tradingview.com/chart/BTCUSD/A1mFwkEG-BTC-Reverts-to-Bearish-Cycle-in-Final-Leg/?utm_campaign=notification_favorite_chart_action&utm_medium=email&utm_source=notification_email

[WhatTheGox]

Looks like DanV (one of the famous charters way back that people said were crazy that we would hit these levels) is now saying that there is a good chance we have a mid term rally.
https://www.tradingview.com/chart/BTCUSD/A1mFwkEG-BTC-Reverts-to-Bearish-Cycle-in-Final-Leg/?utm_campaign=notification_favorite_chart_action&utm_medium=email&utm_source=notification_email

That link is dated 5 months ago or am i missing something here?

[Q7]

Nothing is confirmed right now. It looks more like a rebound or recovery after the drop. We need to see this long term rather than jumping to a quick conclusion based on a slight movement.

[8up]

Looks like DanV (one of the famous charters way back that people said were crazy that we would hit these levels) is now saying that there is a good chance we have a mid term rally.
https://www.tradingview.com/chart/BTCUSD/A1mFwkEG-BTC-Reverts-to-Bearish-Cycle-in-Final-Leg/?utm_campaign=notification_favorite_chart_action&utm_medium=email&utm_source=notification_email

This is what DanV thinks now. https://www.tradingview.com/chart/BTCUSD/yEw5v8MS-BTCUSD-STILL-REMAINS-IN-OVERALL-BEARISH-CYCLE/

[lebing]

Looks like DanV (one of the famous charters way back that people said were crazy that we would hit these levels) is now saying that there is a good chance we have a mid term rally.
https://www.tradingview.com/chart/BTCUSD/A1mFwkEG-BTC-Reverts-to-Bearish-Cycle-in-Final-Leg/?utm_campaign=notification_favorite_chart_action&utm_medium=email&utm_source=notification_email

That link is dated 5 months ago or am i missing something here?

yes, he updated the chart with some further thoughts - hence my post.

[srgkrgkj]

that floor looks pretty dangerous to mee getting that close to double digits may actually push us into them :O

[galdur]

Well, it´s the familiar bitcoin problem - no volume, no buying interest. A change there doesn´t seem likely any time soon, at least not until it trades on serious exchanges.

[srgkrgkj]

Well, it´s the familiar bitcoin problem - no volume, no buying interest. A change there doesn´t seem likely any time soon, at least not until it trades on serious exchanges.

the gemini exchange may be the thing that propells intrest in bitcoin but atm it seems like natural market correction as we move towards correction