End of the Bear Trend

[Afrikoin]

I guess from all i've absorbed, i don't think this is a reversal. Yeah sure, we might go up a bit, but we got to test the $200 lows proper!

Also, some here calling bull have had a poor history in forecasting moves. Like when we were at $300 and they called out for $360.

Some good names to follow IMO, Ryan, Chessnut, David Alcindor, DanV, afbitcoins (very good for mid to long term trends).

I could be wrong

[afbitcoins]

I guess from all i've absorbed, i don't think this is a reversal. Yeah sure, we might go up a bit, but we got to test the $200 lows proper!

Also, some here calling bull have had a poor history in forecasting moves. Like when we were at $300 and they called out for $360.

Some good names to follow IMO, Ryan, Chessnut, David Alcindor, DanV, afbitcoins (very good for mid to long term trends).

I could be wrong

Thanks for including me in your list  I'm already aware of some of those other names too.  Its a good point to listen to variety of ideas.

While its true at the moment that we are still obviously in the downtrend from quick glance at the initial log chart at top of this thread, I will mention why I think  we may have already seen the bottom. For this I look at lower green line on this chart showing linear price scale. This line has been hit by lows on the April 2013 'mini' bubble, the silk road panic sell off and it looks like the wierd btc-e flash crash also hit that line. Latest time it was hit is what I've been calling the bottom.

On linear price scale it is no longer obvious that we are in down trend, it looks to be flattening off with several bearish trendlines already broken.






 

[Afrikoin]

I guess from all i've absorbed, i don't think this is a reversal. Yeah sure, we might go up a bit, but we got to test the $200 lows proper!

Also, some here calling bull have had a poor history in forecasting moves. Like when we were at $300 and they called out for $360.

Some good names to follow IMO, Ryan, Chessnut, David Alcindor, DanV, afbitcoins (very good for mid to long term trends).

I could be wrong

Thanks for including me in your list  I'm already aware of some of those other names too.  Its a good point to listen to variety of ideas.

While its true at the moment that we are still obviously in the downtrend from quick glance at the initial log chart at top of this thread, I will mention why I think  we may have already seen the bottom. For this I look at lower green line on this chart showing linear price scale. This line has been hit by lows on the April 2013 'mini' bubble, the silk road panic sell off and it looks like the wierd btc-e flash crash also hit that line. Latest time it was hit is what I've been calling the bottom.

On linear price scale it is no longer obvious that we are in down trend, it looks to be flattening off with several bearish trendlines already broken.






 

Ok, good chart. recall asking about that green support line - i see it better now.

My first impression is the piecring line pattern at $166 and the one at $60 (give or take). At $60, it was followed by another bottom ($75?) respecting the green support line. I just wonder if we've gone up enough to warrant another bottom test (after $166). Some forecasts point to $185, which would line up well with your support line. Not sure if i'm clear enough.

2013 $60 bottom, up to $125 peak in September then down to $75 in mid -sept
2014 $166 bottom, up to $303 then down to $185 ??

Ew analysts are tracking a final wave 5, could be it?

[minerpumpkin]

It could still be interesting to plot some lines that leave out the gox-times. The theory that the price of BTC was artificially inflated by Gox in 2013 is still pretty widely accepted / considered. This could mean a lower bottom, although it may be difficult to find that, because traditional TA would most likely fail trying to pinpoint it.

[Afrikoin]

[afbitcoins]

It could still be interesting to plot some lines that leave out the gox-times. The theory that the price of BTC was artificially inflated by Gox in 2013 is still pretty widely accepted / considered. This could mean a lower bottom, although it may be difficult to find that, because traditional TA would most likely fail trying to pinpoint it.

I'd say price without 'artificial' inflation by gox trading bots might have still bubbled. Fear and greed are what really drive bubbles. But the trading bots might have helped spark it off. Imagine there had been no bubbles then price might have looked a bit more like this green line (which I have just sketched in very roughly).

[diodio1]

are you sure bull is coming soon? 

[Afrikoin]

[img]https://i.imgur.com/CBMhrGZ.png?1[/img

are you sure bull is coming soon?  

not mine. i snipped this from afbitcoins larger chart.

I'm watching the 2 points marked by arrows. Not sure what'll happen.

[minerpumpkin]

Alright, how do these charts line up with the recent dump on Wednesday night? I mean, we seem to have established quite an impressive potential bottom around $230 now. That amount of coins bringing us down only $4 is quite impressive!

[Nagle]

All those lines, diverting attention from the actual trend - sideways.

The price has been between $200 and $250 for most of the last three months. There was a bubble in March, but it didn't last long. That's 2015 so far.

Bitcoin, the last few years:

2013 - Wow!
2014 - Aaargh!
2015 - Meh.

[afbitcoins]

Alright, how do these charts line up with the recent dump on Wednesday night? I mean, we seem to have established quite an impressive potential bottom around $230 now. That amount of coins bringing us down only $4 is quite impressive!

So far the 'End of the Bear Trend' is still intact. Heres how its looking on latest chart from btc-e (log price scale)

[afbitcoins]

Price still bouncing up the trendline..

The end in sight yet ?

[fortif78]

Price still bouncing up the trendline..

The end in sight yet ?

I'm curious why you ignored the second local bottom around $212 for your rising trend line.
Not calling you out, just wondering  

[afbitcoins]

Price still bouncing up the trendline..

The end in sight yet ?

I'm curious why you ignored the second local bottom around $212 for your rising trend line.
Not calling you out, just wondering  

Its not ignored, if price dips below again I'll start looking at lower parallel trendlines. For now I don't think its needed tho

[techgeek]

Damn its been 6 years with this coin.

And we still going strong, yeah minor set backs of no choice like mt.gox making the coin back down, but overall view from what I see its on the incline.

If you see that graph it goes all the way back when it was like $1.00 value lol.

[randy8777]

Damn its been 6 years with this coin.

And we still going strong, yeah minor set backs of no choice like mt.gox making the coin back down, but overall view from what I see its on the incline.

If you see that graph it goes all the way back when it was like $1.00 value lol.

bitcoin is stronger than ever. when the price was dropping from $600 people were saying miners will shut down miners and difficulty would decrease significantly and so on. bitcoin proved these people wrong.

[Brewins]

what is the next target if the end f the bear trend really proves to be true?

[Cconvert2G36]

what is the next target if the end f the bear trend really proves to be true?

<213.92... lower low, test of 200, panic.

edit: Oh, the end of the... above 300 and stay there.

[afbitcoins]

what is the next target if the end f the bear trend really proves to be true?

I don't have a target but I regard bitcoin as undervalued. Particularly in the event that stock market eventually crashes (which it will), soverign debt failures, bank failures, more bailouts, more QE, as fiat continues a death spiral. Bitcoin, Gold and Silver will all benefit hugely. Stck up now while its cheap.

[bassclef]

what is the next target if the end f the bear trend really proves to be true?

I don't have a target but I regard bitcoin as undervalued. Particularly in the event that stock market eventually crashes (which it will), soverign debt failures, bank failures, more bailouts, more QE, as fiat continues a death spiral. Bitcoin, Gold and Silver will all benefit hugely. Stck up now while its cheap.

I'm in agreement. The guys dumping now are just interested in scaring the market and running stops, etc., to increase their own stash. This has been occurring for months and months but will not work indefinitely.