Morecoin analysis [bitcoin/USD market observations]

[yayayo]

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We have yet to see true despair, that means people completely loosing their faith in Bitcoin and truly expecting it to fail.
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Well things actually do look kinda gloomy around here and on /r/Bitcoin and /r/BitcoinMarkets. I admit, I don't know how dark they still need to get in order to call this true despair, but they aren't exactly bright right now. Can't we just go ahead and ban exchanges that allow shorting?

Yes, people are depressed because of the price decline. But that's not true despair. The current mind set is like: "I can't understand why Bitcoin is valued so low given its great potential.".

People have to question the concept of Bitcoin in its entirety, so they give up on the belief that Bitcoin has any chance to succeed at all. The mind set must become: "What kind of brain damage made me investing in this shitty ponzi scheme? I'm a worthless idiot, gambling away all my money, receiving some virtually generated data created out of thin air. I hate myself.".

ya.ya.yo!

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[thejaytiesto]

...
We have yet to see true despair, that means people completely loosing their faith in Bitcoin and truly expecting it to fail.
...

Well things actually do look kinda gloomy around here and on /r/Bitcoin and /r/BitcoinMarkets. I admit, I don't know how dark they still need to get in order to call this true despair, but they aren't exactly bright right now. Can't we just go ahead and ban exchanges that allow shorting?

Yes, people are depressed because of the price decline. But that's not true despair. The current mind set is like: "I can't understand why Bitcoin is valued so low given its great potential.".

People have to question the concept of Bitcoin in its entirety, so they give up on the belief that Bitcoin has any chance to succeed at all. The mind set must become: "What kind of brain damage made me investing in this shitty ponzi scheme? I'm a worthless idiot, gambling away all my money, receiving some virtually generated data created out of thin air. I hate myself.".

ya.ya.yo!

People that get nervous because of the price will Not make it. If you are here looking at the price, if you are of that type of person that looks at bitcoinwisdom 24/7 you have no notions and you'll end up selling.

[mrhelpful]

Id start buying when its $150 ish, but thats just me.

But, there are times like this I buy it in increments though so avoids the price loss.

If the trend is most people shorting its better to let the shorting settle then buy, or while its going down.

[ensurance982]

I think the real question we should be debating right now is where the top for this current rally on BTC-e is. The second buying spree seems to have come to an end now, but who's to say there won't be a third one? Which makes things even more bizarre: If it was someone with inside knowledge about BTC-e going down or being banned, why would they wait for a second rally? (Is the orderbook only filling back up that slowly?)

[EternalWingsofGod]

I guess the question is its been bleeding for a long time
The best strategy has been to short
When will the downward trend end and finally reverse is the real question.

[klintay]

I guess the question is its been bleeding for a long time
The best strategy has been to short
When will the downward trend end and finally reverse is the real question.

to catch a falling knife? 

[EternalWingsofGod]

I guess the question is its been bleeding for a long time
The best strategy has been to short
When will the downward trend end and finally reverse is the real question.

to catch a falling knife? 

Well if you caught it at the 800 price your bleeding
If it was at 420 your hand is hurt
280 was a bit of a pinch
215 Makes you wonder though well were almost half of 420 how low can we limbo

[ensurance982]

I guess the question is its been bleeding for a long time
The best strategy has been to short
When will the downward trend end and finally reverse is the real question.

to catch a falling knife? 

Well in case one is unsure, it is best to just stay out of the game until a real trend emerges and is being confirmed, subsequently. Right now nothing's confirmed, really. Even though things are looking positive again, we first need to cross some more resistance lines!

[BTCat]

14 april was one of the last chances to buy that cheap. Great call, OP still actual.

[tyrexs]

14 april was one of the last chances to buy that cheap. Great call, OP still actual.

yeah but now price still cheap in range $250-$260, everybody still have a time to buy it now before this to late guys

[pooya87]

14 april was one of the last chances to buy that cheap. Great call, OP still actual.

yeah but now price still cheap in range $250-$260, everybody still have a time to buy it now before this to late guys

you can call every price range that we are in, a low price to buy as long as the future is not clear!
a couple of weeks back when the price was at 220 USD range i was always saying that this is a good time to buy since it is at a low level and was stable for long time. now that it has gone up i'd say it is late to buy cheep, you have to pay extra.
but if you believe that it can go up to $1000 again, you can consider this level cheep and buy now.

[BitmoreCoin]

As long as bitcoin is used, any current price is reasonable.

[Morecoin Freeman]

14 april was one of the last chances to buy that cheap. Great call, OP still actual.

Thank you for acknowledging my call.

At the same time I have to admit that I feel like we are overbought right now.
I would not be surprised if we see some profit taking soon.

[Morecoin Freeman]

I have to admit that I feel like we are overbought right now.
I would not be surprised if we see some profit taking soon.

I was 1 week early but this idea seems to unfold.

I'm aware that a lot of disciplined analysts predict higher prices to be coming up next. Based on the information currently at hand I do not agree.

This next move down should confirm whether the bear market is done for more than anything else.

[BTCat]

I have to admit that I feel like we are overbought right now.
I would not be surprised if we see some profit taking soon.

I was 1 week early but this idea seems to unfold.

I'm aware that a lot of disciplined analysts predict higher prices to be coming up next. Based on the information currently at hand I do not agree.

This next move down should confirm whether the bear market is done for more than anything else.

Timing is everything. In fact many analysts now think Bitcoin is taking a break but the uptrend is still intact. Buy on dips or holding ain't bad. Never know where it's really gonna turn up again and you don't want to miss that ride to new all time highs.

[BitmoreCoin]

As long as BTC is used widely, the price will go higher.

[Morecoin Freeman]

New bottom for now at $275.

[ask]

New bottom for now at $275.

+1

[Morecoin Freeman]

Back to $300 by Sunday is one possible outcome.

We did see some serious dump attempts, however the sentiment has proven to be very bullish lately.

I hold on to my coins again.

[EternalWingsofGod]

14 april was one of the last chances to buy that cheap. Great call, OP still actual.

Sitting at $280 dollars was a pinch in April but with sentiment and momentum its may be in the opposite polarity
Where there is a stabilizaton and support being built at this range and trying to consolidate.
Profit taking is to be had but at the same time I can see the market moving upwards for now we will need to look at what will happen although in my opinion this is an ok buy range (Pinch range) with some downside return where 215 was the current low and some good upside potential to the 420 support levels.