We're on the knifes edge

[MF Doom]

I for one am really uneasy about the price right now, I feel like its a good buy opportunity, the best buy opportunity in a while actually, but at the same time I'm not sure there is enough buy support to even hold $200.  I wonder if we break $200, it could be another long fall from there.  Or, if some strong buying happens, we could be in for a run up.  I feel like we're right on the edge and could go wither way.

So why would now be a good buy, and what reasons (actual reasons, not just "because were going to the moon") are there for the price to stabilize and continue upward?

[g-unit]

Someone said this earlier I think...between lost coins, whales holding, and Satoshis holding it probably won't go below $150, or somewhere around there. Once the price dips below 200, if it does, buying will pick up.

I don't think big players want the price to get too low. Just my 2 cents. Sorry I don't have more of a rationale  .

[Ibian]

If you are worried about buying you have too much. If you are worried the price will go up before you can buy you have too little. If you don't care either way you have just the right amount. Someone should make a sticky with these recurring topics.

[g-unit]

If you are worried about buying you have too much. If you are worried the price will go up before you can buy you have too little. If you don't care either way you have just the right amount. Someone should make a sticky with these recurring topics.

Good point. Never thought of it that way.

[klee]

I for one am really uneasy about the price right now, I feel like its a good buy opportunity, the best buy opportunity in a while actually, but at the same time I'm not sure there is enough buy support to even hold $200.  I wonder if we break $200, it could be another long fall from there.  Or, if some strong buying happens, we could be in for a run up.  I feel like we're right on the edge and could go wither way.

So why would now be a good buy, and what reasons (actual reasons, not just "because were going to the moon") are there for the price to stabilize and continue upward?

IMO don't try to catch a falling knife, especially as the XT vs Core drama is not over.

That said, a buy from 125 down to 50 is a very good buy because there will be almost certainly a bounce at least to 150. Especially if the drama is over (which of course will make it almost impossible to fall below 100$ and probably will send us above 240s).

If the drama is over, above 235 is a certain buy.

With or without drama, all in above 285.

Just don't be greedy to trade the 160-235 chop. Wait patiently for better opportunity.

Good choice is a short between 228-232 with a stop at 234.

[dragonseer]

I for one am really uneasy about the price right now, I feel like its a good buy opportunity, the best buy opportunity in a while actually, but at the same time I'm not sure there is enough buy support to even hold $200.  I wonder if we break $200, it could be another long fall from there.  Or, if some strong buying happens, we could be in for a run up.  I feel like we're right on the edge and could go wither way.

So why would now be a good buy, and what reasons (actual reasons, not just "because were going to the moon") are there for the price to stabilize and continue upward?

IMO don't try to catch a falling knife, especially as the XT vs Core drama is not over.

That said, a buy from 125 down to 50 is a very good buy because there will be almost certainly a bounce at least to 150. Especially if the drama is over (which of course will make it almost impossible to fall below 100$ and probably will send us above 240s).

If the drama is over, above 235 is a certain buy.

With or without drama, all in above 285.

Just don't be greedy to trade the 160-235 chop. Wait patiently for better opportunity.

Good choice is a short between 228-232 with a stop at 234.

I sold off what I had today just before the spike in the last hour. Don't regret it yet, I feel a crash is more likely right now. If this doesn't happen in the next few weeks, I'll keep these figures in mind so I don't get left behind before a major rally.

[klee]

I for one am really uneasy about the price right now, I feel like its a good buy opportunity, the best buy opportunity in a while actually, but at the same time I'm not sure there is enough buy support to even hold $200.  I wonder if we break $200, it could be another long fall from there.  Or, if some strong buying happens, we could be in for a run up.  I feel like we're right on the edge and could go wither way.

So why would now be a good buy, and what reasons (actual reasons, not just "because were going to the moon") are there for the price to stabilize and continue upward?

IMO don't try to catch a falling knife, especially as the XT vs Core drama is not over.

That said, a buy from 125 down to 50 is a very good buy because there will be almost certainly a bounce at least to 150. Especially if the drama is over (which of course will make it almost impossible to fall below 100$ and probably will send us above 240s).

If the drama is over, above 235 is a certain buy.

With or without drama, all in above 285.

Just don't be greedy to trade the 160-235 chop. Wait patiently for better opportunity.

Good choice is a short between 228-232 with a stop at 234.

I sold off what I had today just before the spike in the last hour. Don't regret it yet, I feel a crash is more likely right now. If this doesn't happen in the next few weeks, I'll keep these figures in mind so I don't get left behind before a major rally.

https://bitcoinwisdom.com/markets/bitstamp/btcusd , 2 or 4h

I think we will go up to 230-235 and then fall back in the 202-205 area. Then a W formation and a breakout above 235.

[8up]

I for one am really uneasy about the price right now, I feel like its a good buy opportunity, the best buy opportunity in a while actually, but at the same time I'm not sure there is enough buy support to even hold $200.  I wonder if we break $200, it could be another long fall from there.  Or, if some strong buying happens, we could be in for a run up.  I feel like we're right on the edge and could go wither way.

So why would now be a good buy, and what reasons (actual reasons, not just "because were going to the moon") are there for the price to stabilize and continue upward?

IMO don't try to catch a falling knife, especially as the XT vs Core drama is not over.

That said, a buy from 125 down to 50 is a very good buy because there will be almost certainly a bounce at least to 150. Especially if the drama is over (which of course will make it almost impossible to fall below 100$ and probably will send us above 240s).

If the drama is over, above 235 is a certain buy.

With or without drama, all in above 285.

Just don't be greedy to trade the 160-235 chop. Wait patiently for better opportunity.

Good choice is a short between 228-232 with a stop at 234.

I sold off what I had today just before the spike in the last hour. Don't regret it yet, I feel a crash is more likely right now. If this doesn't happen in the next few weeks, I'll keep these figures in mind so I don't get left behind before a major rally.

https://bitcoinwisdom.com/markets/bitstamp/btcusd , 2 or 4h

I think we will go up to 230-235 and then fall back in the 202-205 area. Then a W formation and a breakout above 235.

Couldn't agree more.

[ashour]

Someone said this earlier I think...between lost coins, whales holding, and Satoshis holding it probably won't go below $150, or somewhere around there. Once the price dips below 200, if it does, buying will pick up.

I don't think big players want the price to get too low. Just my 2 cents. Sorry I don't have more of a rationale  .

I agree with that, the price won't drop too much below $200. It will stabilize at $200 in the upcoming days and then will slowly get back to the $250 level. The best thing to do now is to buy up some coins and sale them at a later point where the price is stabilized.

[Tzupy]

I believe this is a local bottom, that could be tested again today or tomorrow, if it holds then what could follow
are two small legs up, to about 240$ and to 265$ possibly, after which a larger correction could begin.
At least that's my most probable scenario, I bought non leveraged around 210$ (didn't expect to drop below),
and plan to sell soon and later short the top of the second leg up with max leverage.

[mrhelpful]

I mean if anything, you can buy smaller increments and reduce the risk that way?

But, im taking my shots with after or during the xt changes with people react after they see it. And if they see a huge difference, and its a bad one prepare for another drop.

Its better to get a feel for people when they use xt then guessing the future that everythings going to be great.

[randy8777]

I believe this is a local bottom, that could be tested again today or tomorrow, if it holds then what could follow
are two small legs up, to about 240$ and to 265$ possibly, after which a larger correction could begin.
At least that's my most probable scenario, I bought non leveraged around 210$ (didn't expect to drop below),
and plan to sell soon and later short the top of the second leg up with max leverage.

chances are high that the $200 will get tested again within a few days, but too much people are waiting to buy around that level. i think the support is strong enough to not let it fall below $200.

[g-unit]

I believe this is a local bottom, that could be tested again today or tomorrow, if it holds then what could follow
are two small legs up, to about 240$ and to 265$ possibly, after which a larger correction could begin.
At least that's my most probable scenario, I bought non leveraged around 210$ (didn't expect to drop below),
and plan to sell soon and later short the top of the second leg up with max leverage.

chances are high that the $200 will get tested again within a few days, but too much people are waiting to buy around that level. i think the support is strong enough to not let it fall below $200.

Completely agree.

US has bought 12k BTC in the past 90 minutes. Wonder if this little rally to 223/4 was just from a few large buys or bunch of little people speculating.

[hector3115]

I also think the whales will not let price go under the january bottom.  This will create a huge double bottom reversal on the long term chart.  With a second bottom in like that we can run hard up.

[MF Doom]

I believe this is a local bottom, that could be tested again today or tomorrow, if it holds then what could follow
are two small legs up, to about 240$ and to 265$ possibly, after which a larger correction could begin.
At least that's my most probable scenario, I bought non leveraged around 210$ (didn't expect to drop below),
and plan to sell soon and later short the top of the second leg up with max leverage.

So the $200 mark finally looks like a price bottom has been reached?

I imagine most of the panic sellers are out now, and the whales can resume getting their cheap coins.  Seems like the quick bounce back always happens after a quick price decline.

[NorrisK]

If you are worried about buying you have too much. If you are worried the price will go up before you can buy you have too little. If you don't care either way you have just the right amount. Someone should make a sticky with these recurring topics.

One of the best remarks about the amount of bitcoins one should have I have read!

Guess I still have some collecting to do then

[icematikx]

From my side, I've bought in at the low prices and dumped it all into Hashnest buying S5 hashing power while the market was cheap.

I did the same thing earlier today. Bought a crap-ton of S4 hashing power at 0.00072. I sold it 4-hours later at 0.00078. People are panicking. Buy in low, sell for higher - it works on any platform.

[luciann]

If you are worried about buying you have too much. If you are worried the price will go up before you can buy you have too little. If you don't care either way you have just the right amount. Someone should make a sticky with these recurring topics.

One of the best remarks about the amount of bitcoins one should have I have read!

Guess I still have some collecting to do then

Damn, so me having 2.4 btc in my wallet lol.

Cause I dont care either way cause that amount was all earned, and risk free pretty much.

Id rephrase the worry about price part, to should focus on making real profit in fiat form to buy more if they please lol.

[afbitcoins]

Knifes edge can be viewed as this trendline I reckon.



If price gets below there (currently about $190) then who knows where it will stop falling. More likely in my opinion price will stay above

[cellard]

Knifes edge can be viewed as this trendline I reckon.



If price gets below there (currently about $190) then who knows where it will stop falling. More likely in my opinion price will stay above

Wel we are near 230 since you posted this so we know that at least the price hasn't broken that all time uptrend. Anything is possible tho, I would wait after the "stress test" of september is over and see what happens with the price.