$350 is the new barrier?

[dothebeats]

So we've been in a massive uptrend this previous weeks but it seems that the rocket ship has ran out of fuel for a while. China broke the $350 barrier which Western exchanges can't.

Do you think we have a chance to break it by November or nah? What are your predictions?

[jeffthebaker]

In my opinion, either $350 or $400 is the new barrier, depending on how the hodlers feel. I think it is clear that this surge past $300 has established that price as the new floor going forward, now we just need to see where everyone needs to cash out. $350 is not nearly as significant a number as $300 or $400, so we might see $400 as the actual barrier (granted we may not reach the barrier still).

[u9y42]

In my opinion, either $350 or $400 is the new barrier, depending on how the hodlers feel. I think it is clear that this surge past $300 has established that price as the new floor going forward, now we just need to see where everyone needs to cash out. $350 is not nearly as significant a number as $300 or $400, so we might see $400 as the actual barrier (granted we may not reach the barrier still).

I'm not as optimistic (though not really pessimistic either, and I will still keep on holding as much as I can, whenever I can): despite a number of good news, the uptrend seems to have lost most of its steam, so I expect the price to now start dropping a bit in the next few weeks (at least down to $280; possibly a little below), as speculators start to take hold again. After that, we'll perhaps be stuck between $280 and $320 for a couple of months, unless some surprising news hits.

[Omikifuse]

It is, until it is broken and left behind forever.

Like all other barriers from before

[dothebeats]

In my opinion, either $350 or $400 is the new barrier, depending on how the hodlers feel. I think it is clear that this surge past $300 has established that price as the new floor going forward, now we just need to see where everyone needs to cash out. $350 is not nearly as significant a number as $300 or $400, so we might see $400 as the actual barrier (granted we may not reach the barrier still).

Since we can't really tackle $350 right now, it's just about right to call it as a barrier for now. If we managed to get past it in a few weeks time (assuming that this rocket still has some fuel and the performance today is just due to being a weekend), I don't see why we won't manage to hit $400 as well.

[jeffthebaker]

In my opinion, either $350 or $400 is the new barrier, depending on how the hodlers feel. I think it is clear that this surge past $300 has established that price as the new floor going forward, now we just need to see where everyone needs to cash out. $350 is not nearly as significant a number as $300 or $400, so we might see $400 as the actual barrier (granted we may not reach the barrier still).

I'm not as optimistic (though not really pessimistic either, and I will still keep on holding as much as I can, whenever I can): despite a number of good news, the uptrend seems to have lost most of its steam, so I expect the price to now start dropping a bit in the next few weeks (at least down to $280; possibly a little below), as speculators start to take hold again. After that, we'll perhaps be stuck between $280 and $320 for a couple of months, unless some surprising news hits.

I suppose that's possible, but $300 is a huge number psychologically. Over the past several months, we have seen the price hit $300 time and time again, only to drop in response to sell outs. This was the first time it surpassed $300, and has continued to surge. Although the surge appears to be over, I firmly believe $300 is going to become a new purchasing point for traders.

[PixelEater]

Could be possible, because the value of 1 BTC was around 350 for a while before dropping.
Now the value of Bitcoin is going back up to where it was.

[Denker]

So we've been in a massive uptrend this previous weeks but it seems that the rocket ship has ran out of fuel for a while. China broke the $350 barrier which Western exchanges can't.

Do you think we have a chance to break it by November or nah? What are your predictions?

First I wanna hold the $300. At the moment it looks good. Hope we stay strong at this weekend and can continue climbing a bit with refilled batteries next week.
If this should be the case we might see $350 until the end of November.

[dothebeats]

So we've been in a massive uptrend this previous weeks but it seems that the rocket ship has ran out of fuel for a while. China broke the $350 barrier which Western exchanges can't.

Do you think we have a chance to break it by November or nah? What are your predictions?

First I wanna hold the $300. At the moment it looks good. Hope we stay strong at this weekend and can continue climbing a bit with refilled batteries next week.
If this should be the case we might see $350 until the end of November.

I am thinking of the same thing too. We might see another push in the price after this weekend. It seems that it has settled down for a while right now.

I might take a small profit soon but I'm not calling this run quits just yet

[Mickeyb]

We have slowed down. It looks like we have lost our steam. This is maybe only temporary. We will see in the next few days. There will either be a second leg of the upward movement or we will drop down from here.

I don't think that $350 is a new barrier. $300 was a huge barrier in my opinion and we have run through this like a hit knife through the butter. Historically $350 is just a number. There was never so much important in all of the runs and dumps.

[mtnsaa]

It looks like it, right now things are a little slower than in the past few days so maybe if it can find support here we can go beyond $400 in the next bump.

[dothebeats]

We have slowed down. It looks like we have lost our steam. This is maybe only temporary. We will see in the next few days. There will either be a second leg of the upward movement or we will drop down from here.

I don't think that $350 is a new barrier. $300 was a huge barrier in my opinion and we have run through this like a hit knife through the butter. Historically $350 is just a number. There was never so much important in all of the runs and dumps.

We'll see how it would play out in the coming week. If it really lost its fuel or just slowing down for a bit. Also, we'll see how many traders would take profits and call it quits for now.

[randy8777]

$350 is a very difficult price level, but the $400 level is even more difficult as whale traders will try to not let it go over $400. they will place large sell walls to scare people off.

[talks_cheep]

Current dip may be due to short term profit taking. China has not lost its appetite for bitcoins, yet. The Chinese commie gov't still exercising currency control and yuan devaluation. Their economy has been retreating, though there are signs of recovery.

[bitcoin567]

nah its not we can see that the price is falling already

[amiryaqot]

First we need more stable floor above $300 with this current rise of price i think $350-$400 will be in next wave that will come in next week as per some trading indicator showing some positive signals about that.

[mtnsaa]

First we need more stable floor above $300 with this current rise of price i think $350-$400 will be in next wave that will come in next week as per some trading indicator showing some positive signals about that.

I agree, this is all very fresh still. Also the weekends are slow so a little drop in value was logical in my opinion. I think it will hit $350-360 levels this week easily.

[BitcoinRepublic]

First we need more stable floor above $300 with this current rise of price i think $350-$400 will be in next wave that will come in next week as per some trading indicator showing some positive signals about that.

If the price stays around $300 for several weeks, it will provide the basis for the next bull run, maybe a long bull run this time.

[NorrisK]

First we need more stable floor above $300 with this current rise of price i think $350-$400 will be in next wave that will come in next week as per some trading indicator showing some positive signals about that.

I agree, this is all very fresh still. Also the weekends are slow so a little drop in value was logical in my opinion. I think it will hit $350-360 levels this week easily.

I expected a bigger drop to be honest.. This 5% drop is hardly a correction at all. If it was 250-270 I would call it running out of steam, but still looks strong imo.

One big spike on the drop can very well mean just one big whale cashing out.

[zimmah]

In my opinion, either $350 or $400 is the new barrier, depending on how the hodlers feel. I think it is clear that this surge past $300 has established that price as the new floor going forward, now we just need to see where everyone needs to cash out. $350 is not nearly as significant a number as $300 or $400, so we might see $400 as the actual barrier (granted we may not reach the barrier still).

Since we can't really tackle $350 right now, it's just about right to call it as a barrier for now. If we managed to get past it in a few weeks time (assuming that this rocket still has some fuel and the performance today is just due to being a weekend), I don't see why we won't manage to hit $400 as well.

$350 is probably a bigger barrier than $350, two Fibonacci retracements align there, so there's some significance to the $350 area.