Bitcoin Primed

[Wilhelm]

I agree we will see a sudden drop before going sky high. This will screw over the weak hands. Why because it always seems to happen.

[QuintLeo]

If you know it is going down you can still make money by going short...

 There is no mechanism to go short on Bitcoin.

 Yet another indication of how immature the market for Bitcoin is.

[RyNinDaCleM]

If you know it is going down you can still make money by going short...

 There is no mechanism to go short on Bitcoin.

 Yet another indication of how immature the market for Bitcoin is.

There are at least 3 mechanisms to short Bitcoin. Keep up

[afbitcoins]

Normally I pay most attention to longer timescales but this fork on the 4 hour chart has me interested at the moment.

Looks like bitcoin is failing to get above resistance might take a dip down towards the area marked with a circle



Nice bullish fork to follow though.

[afbitcoins]

Update

Bitstamp with 4hour candles



The price didn't drop to bottom of fork as per my last update, instead breaking upwards through some levels of resistance. However this slope looks valid. Bitcoin more primed than I thought.

In case anyone is interested in how the fork is defined heres a zoomed out view using 1 day candles.



I'm still wondering if there will be a bear phase retesting bottom of the channel mentioned in my Opening Post. But $320 looks like might be solid as a floor

Anyway I consider that my idea of bitcoin being primed for lift off looks valid. In this thread I will continue to test that idea.

[afbitcoins]

Hold or trade with caution.

From my blog..



I have a sneaky feeling bitcoin’s current rise is too much too soon and will soon correct. I could be wrong so trade with caution.

More info here.

https://afbitcoins.wordpress.com/2015/12/11/hodl-or-trade-with-caution/


Not getting much response on this thread anymore so thinking to sign off with this. In closing, I still think bitcoin is primed for huge bull moves early next year. Safest play is HODL

[Afrikoin]

Hold or trade with caution.

From my blog..



I have a sneaky feeling bitcoin’s current rise is too much too soon and will soon correct. I could be wrong so trade with caution.

More info here.

https://afbitcoins.wordpress.com/2015/12/11/hodl-or-trade-with-caution/


Not getting much response on this thread anymore so thinking to sign off with this. In closing, I still think bitcoin is primed for huge bull moves early next year. Safest play is HODL

Happy to have you over at my thread whenever. Please continue to share your charts. Always been a fan (of your blog too)

https://bitcointalk.org/index.php?topic=1161207.480

[TigerUppercut]

Hey great analysis we appreciate your charts here as fellow TA's.  Hopefully BTC sets a Base here and we challenge $500 soon

[dumpida]

If you know it is going down you can still make money by going short...

 There is no mechanism to go short on Bitcoin.

 Yet another indication of how immature the market for Bitcoin is.

You can go short in some bitcoin exchanges. Some exchange provides very high leverage. It is a dangerous game.

[afbitcoins]

Ah well, since this thread is still hanging around I'll post another update.

Bull fork still very much in play. Heres 4hour log chart



Bitcoin finding resistance on one of the trendlines, looks like it wants to break up and test the middle line of the fork again which was where it reached on the last spike the other day.

Heres zoomed out view of same chart for perspective.



Outlook bullish

[dumpida]

The price is around $430 for about 4 weeks now. It is quite a stable period in terms of bitcoin price action. Shall we call it priming?

[Junko]

The price is around $430 for about 4 weeks now. It is quite a stable period in terms of bitcoin price action. Shall we call it priming?

Yes, it is priming still, even more primed than ever. Once the ignition button is hit... boom goes the dynamite.

[Amph]

Hold or trade with caution.

From my blog..



I have a sneaky feeling bitcoin’s current rise is too much too soon and will soon correct. I could be wrong so trade with caution.

More info here.

https://afbitcoins.wordpress.com/2015/12/11/hodl-or-trade-with-caution/


Not getting much response on this thread anymore so thinking to sign off with this. In closing, I still think bitcoin is primed for huge bull moves early next year. Safest play is HODL

i think the correction already happened, because the 400 mark withstood two times already, remember that we went two times to 470-500 range, and still no sign of return to sub 400

the market is correcting toward the 400-450 range, so the next natural step is to break 500, it could happen in 1 month or less

[afbitcoins]

On my opening post I showed a rough projection of future price using some arrows in which I included a kind of fake dead cat bounce. I think this is what this is we see now. Or put another way Bear trap. Price may drop further but not enough to satisfy bears and soon enough bull impulse will win. I doubt it will get far below $400. II could be wrong of course but my own money is where my mouth is and bitcoins I accumulated below $300 are not in danger now.

Meanwhile halving is drawing ever closer.

[dumpida]

On my opening post I showed a rough projection of future price using some arrows. Note I included a kind of fake dead cat bounce. I think this is what this is we see now. Or put another way Bear trap. Price may drop further but not enough to satisfy bears and soon enough bull impulse will win. I doubt it will get far below $400. II could be wrong of course but my own money is where my mouth is and bitcoins I accumulated below $300 are not in danger now.

Meanwhile halving is drawing ever closer.

I think the price is quite stable now. It is difficult to accumulate below $300. Even if the price drop below $300, the volume will be thin.

[afbitcoins]

On my opening post I showed a rough projection of future price using some arrows. Note I included a kind of fake dead cat bounce. I think this is what this is we see now. Or put another way Bear trap. Price may drop further but not enough to satisfy bears and soon enough bull impulse will win. I doubt it will get far below $400. II could be wrong of course but my own money is where my mouth is and bitcoins I accumulated below $300 are not in danger now.

Meanwhile halving is drawing ever closer.

I think the price is quite stable now. It is difficult to accumulate below $300. Even if the price drop below $300, the volume will be thin.

Ah maybe I wasnt clear.  not waiting for price to drop below $300, I dont think theres much chance it goes below $400 in fact. I am thinking new speculative bubble is quite likely on the horizon.

[azguard]

sure it is, maybe not this month but for next it will start and then we will see what will happen and where it will stop before dropping and stabilizing again

[helloeverybody]

We might finally be in the slow and steady rise phase, which if we are means bitcoin is finally stabilising and gaining wider adoption. If so then it will be slow but we should keep on climbing to dizzy new highs. I dont know if anyone is wanting to dump at this price now since its been holding so strong.

[azguard]

We might finally be in the slow and steady rise phase, which if we are means bitcoin is finally stabilising and gaining wider adoption. If so then it will be slow but we should keep on climbing to dizzy new highs. I dont know if anyone is wanting to dump at this price now since its been holding so strong.

from everything that looks like this its true
we are in stable range and im hopping for slow but stable rise in price before halving and then stabilize in some optimal range for it

[afbitcoins]

I'm not sure price has finished correcting yet, might still see another dip towards $400