Dead Cat Bounce

[Denker]

This market really is fucking ridiculous.

Last week, Bitcoin was trading at $352, but by the end of the day, it was trading at $390.

4 days later, or 2 days ago, Bitcoin was trading at $428.

Today, it is trading back at $390.

....

Well that's our good old rolloercoaster I would say.
Would have been nice to stay above the 400 but as it was already mentioned there wasn't much support as it slowly started to decline constantly after the $428 top.

[coinzat]

the chart looks like that dead cat bounce but I do not think it is the end or the price will fall to zero. 
if you looked at the price chart you will see that you can not apply stock market analysis on bitcoin, it has its own way in movement

[MatTheCat]

This market really is fucking ridiculous.

Last week, Bitcoin was trading at $352, but by the end of the day, it was trading at $390.

4 days later, or 2 days ago, Bitcoin was trading at $428.

Today, it is trading back at $390.

....

Well that's our good old rolloercoaster I would say.
Would have been nice to stay above the 400 but as it was already mentioned there wasn't much support as it slowly started to decline constantly after the $428 top.

Indeed.

And how many momentum chasers who bought $400+ Bitcoin, do you think are sitting bagholding BTC right now, anxious on an opportunity to get the fuck out?

Going by the strong break out volume and the weak correction volume that has brought Bitcoin down to well beneath the break out. I would say quite a lot.

[tokeweed]

Your definition forgot to mention that the cat must die. Stocks die when underfunded, bitcoin does not. If you want to determine if this is a dead cat bounce then you are going to have to wait until bitcoin is dead, as it can only be defined in retrospect.

P.s. I have not tested this, but I assume that live cats also bounce.

Not necessarily.  By dead it means only the current trend is over.  It's a trading term.

[The Sceptical Chymist]

Can't tell, but this is bitcoin after all.  Price swings can make your teeth curl and induce vomiting.  We'll see what the price does, if anything, over the weekend.

[tokeweed]

Dead, or do you mean to say that either Bitcoins are gonna die or something's gonna kill it, right???

This doesn't look like it, as it is just panic selling by whales just to buy coins for cheaper, maybe because they are preparing for some big pumps that we are going to witness soon...

Huh?  No.  It's just a technical term like heads and shoulders, triple top, etc..

[manis]

the chart looks like that dead cat bounce but I do not think it is the end or the price will fall to zero. 
if you looked at the price chart you will see that you can not apply stock market analysis on bitcoin, it has its own way in movement

Technical analysis is just based on people's attitude towards buying and selling.
The market size and depth of Bitcoin may be different, but the underlying emotions which drive people to buy and sell are the same.

[Rescue Squad]

Dead, or do you mean to say that either Bitcoins are gonna die or something's gonna kill it, right???

This doesn't look like it, as it is just panic selling by whales just to buy coins for cheaper, maybe because they are preparing for some big pumps that we are going to witness soon...

Or the mice are just leaving the sinking ship panic selling this time for good?

[Amph]

i was right it's returning again at 400, it was a trap like the last one, you see there is no sub 350 anymore, keep waiting forever for it, while we approach a major value increase 500>

[Jet Cash]

Remember that cats have nine lives. I don't think Bitcoin has even used it first life despite its involvement with drugs.

[MatTheCat]

Man oh Man!

Amph, the gift that keeps on giving:

i was right it's returning again at 400, it was a trap like the last one, you see there is no sub 350 anymor,e keep waiting forever for it, while we approach a major value increase 500>

LOL!

[tokeweed]

Amph is an optimist...  Nothing wrong with that.  In fact, it should be encouraged.   

[1Referee]

It was an expected drop as the support around the $400 price level was too weak to hold. I think we'll sit around $380-$420 for at least a week or two.

Then what?  Continue to slide down or do the Chinese pumpers come back?

It will bounce up again. I am quite sure the pump that people are waiting for will start within 2 months. The big boys have had enough time to accumulate plenty of coins already. It's due for a massive pump.

[SuperCoinGuy]

It was an expected drop as the support around the $400 price level was too weak to hold. I think we'll sit around $380-$420 for at least a week or two.

Then what?  Continue to slide down or do the Chinese pumpers come back?

It will bounce up again. I am quite sure the pump that people are waiting for will start within 2 months. The big boys have had enough time to accumulate plenty of coins already. It's due for a massive pump.

The price is pretty much unstable to warrant big buying tendencies any time soon. And if they have enough coins stored already there is no need to pump anything and risking losing money in the process.

[ronald98]

The price was pumped when the stock market was crashing. Since the EU bank decided to throw some money at the problem the stock market recovered and Bitcoin started crashing. I'm not sure what will happen next, but I doubt there will be any giant Bitcoin pumps now the stock market is recovering.

[Rudsild]

Remember that cats have nine lives. I don't think Bitcoin has even used it first life despite its involvement with drugs.

Bitcoin has more lives than cat. It has been declared dead 90 times, but it comes back to life every time.

[Amph]

Man oh Man!

Amph, the gift that keeps on giving:

i was right it's returning again at 400, it was a trap like the last one, you see there is no sub 350 anymor,e keep waiting forever for it, while we approach a major value increase 500>

LOL!

don't be fooled by the last dump, dump happen much easy than pump, they can happen for worthless shit, and be worth nothing for the future TA of the chart

i'm not even looking at the past anymore, i look at the future to judge the possible outcome of the value

[MatTheCat]

Man oh Man!

Amph, the gift that keeps on giving:

i was right it's returning again at 400, it was a trap like the last one, you see there is no sub 350 anymor,e keep waiting forever for it, while we approach a major value increase 500>

LOL!

don't be fooled by the last dump, dump happen much easy than pump, they cna happen for worthless shit, and be worth nothing for the future TA of the chart

i'm not even looking at the past anymore, i look at the future to judge the possible outcome of the value

Actually...if you look at the charts, the pumps happened much more easily than the dumps. Under what market conditions, are these characteristics normally to be found?

[MatTheCat]

Amph is an optimist...  Nothing wrong with that.  In fact, it should be encouraged.   

The Story of Amph, the Optimistic Sheep!


One warm sunny day on the farm, Amph wanted to go for a stroll in the woods to look for some tasty mushrooms. But his friend, Peter the Pessimistic Pig said;
"No, You can't go there Amph. It is dangerous! There are wolves in the woods".
But Amph replied;
"Yes Peter, but the wolves just feasted on lots of farm animals the other day. They can't possibly have any appetite left. Their bellies are so full, that they probably can't even move! I am off to get myself some tasty mushrooms. You will be crying when you miss out!"

So off Amph went, into the woods......etc etc etc.

[Astargath]

Amph is an optimist...  Nothing wrong with that.  In fact, it should be encouraged.   

99% of people in this forum are optimistic about the bitcoin price but it doesn't really help otherwise the price would be 100k already. I don't believe anyone can predict bitcoin's price at the moment unless it stabilizes more.