Will we cross the bearline in April?

[inca]

Shorts have increased quite a bit over the past few days.  I think a drop is coming

You are short though, damiano.

Remember, you closed your long yesterday at a lower level than this?

Just closed my long that I opened at 239.  These no volume spikes worry me a bit.  Short still open and going to add a bit more around 270-275 if it gets there.

[uki]

I think what we've been seeing lately are a few speculative bounces on the way down and there's nothing to suggest that it's bottomed out or about to change direction any time soon as far as I'm concerned.

the longer we do not establish a new low, the more solid looks the last one. So far we have been doing pretty good at reversing the last year's down trend. I don't know why people expect exponential rise to start immediately after? Can someone explain that to me?
We are in the healthy trend reversal, not more and not less. And after couple more months we may see how it goes further.

[Wary]

Wary, are you using a linear or log chart with straight lines?

According to my log chart, we already broke the down trend.

Log chart, log lines, bitstamp, 3d. But I assume you're joking

[MiningAtlas]

will will smash through that in a glorious sideways movement

[Fabrizio89]

Could be if a couple of good news stack one upon each other. I'd prefer around June though.

[ensurance982]

Oh well, we could bounce off of it one, two, or a couple more times, I guess. But I believe we will break out, eventually!

[uki]

will will smash through that in a glorious sideways movement

I think we will first bounce down off the 2014 down-trend line (the red arrow) and then find the support in the bottom bound of the 2015 up-trend channel you depicted.
That seems to me the roadmap for the next 1-2 months.
More sideways ahead, I think.

[damiano]

Shorts have increased quite a bit over the past few days.  I think a drop is coming

You are short though, damiano.

Remember, you closed your long yesterday at a lower level than this?

Just closed my long that I opened at 239.  These no volume spikes worry me a bit.  Short still open and going to add a bit more around 270-275 if it gets there.

Long was closed on futures which had a higher spike than bitfinex 

[ensurance982]

will will smash through that in a glorious sideways movement

I think we will first bounce down off the 2014 down-trend line (the red arrow) and then find the support in the bottom bound of the 2015 up-trend channel you depicted.
That seems to me the roadmap for the next 1-2 months.
More sideways ahead, I think.

It's highly important that we don't make lower and lower lows while doing that. Our current support lines seem to be pretty stable, which is pretty good. We're still not "safe", though!

[calchuchesta]

Moon time ba-by.

[Q7]

Well I was full of optimism when the price suddenly went up to 255 yesterday but it didn't hang on to its position for long and it made a quick pullback to where it is right now at 245. Anyway, we just have to wait and see. Trying to predict the movement will only end up in disappointment.

[zyzzbrah]

We going 1000 by the end of the year, get with the program my friends.

[ensurance982]

Moon time ba-by.

You actually realize that we're just about to bounce off of that support line, right? We're not out of any reasonable channel as of now. The moon is still on track.

[8up]

Moon time ba-by.

You actually realize that we're just about to bounce off of that support line, right? We're not out of any reasonable channel as of now. The moon is still on track.

LIN vs. LOG is part of the uncertainty we are in atm. best to position oneself for both possible outcomes.

[afbitcoins]

I don't see it happening in April however I do think the breakout will come later this year. Even after that may not be heading straight to the moon though. Patience is required. Accumulate and hodl now then go away and do other things for a couple of years.

Maybe the breakout could look something like this.

[SkyValeey]

We going 1000 by the end of the year, get with the program my friends.

1000 cny ? Oh yeah!

[BusyBeaverHP]

Op trendlines too optimistic and more importantly, ignores too many data points.

Here's a model showing exponential decay:



If we're not trading below 200 in September, then we're out of the bear market 

[srgkrgkj]

personally we can make it out of the bear market alive, bears are loosing their grip

[ensurance982]

I don't see it happening in April however I do think the breakout will come later this year. Even after that may not be heading straight to the moon though. Patience is required. Accumulate and hodl now then go away and do other things for a couple of years.

Maybe the breakout could look something like this.

I'd totally be fine if our first stop was that upper channel you drew there. It's make-or-break time right now. Still optimistic, though! Never give up, never surrender!

[ensurance982]

personally we can make it out of the bear market alive, bears are loosing their grip

Yeah, that's what I was thinking, as well. It looks like dumps don't really cause that much of a panic anymore, like in February, and the long-term support line holds for now.