[2016-02-02] Bitcoin Price Technical Analysis- Ready for Another Break Out?

[hendra147]

Bitcoin Price Key Highlights

Bitcoin price recently broke below a long-term consolidation pattern but is now stuck in a new one.
Price is trading inside a symmetrical triangle and is approaching the peak of the formation, indicating that another breakout is imminent.
Price could still test the top of the triangle around $375 and the 100 SMA, which might hold as resistance.

http://www.newsbtc.com/2016/02/02/bitcoin-price-technical-analysis-for-02022016-ready-to-break-out/

[1713569846]

1713569846

[Kakmakr]

The break out will come closer to the halving, not now. There are also rumors of MMM <Ponzi> nearing a full collapse and I think this will push the Bitcoin price down a lot more. In many countries MMM asked users to shift funds using Bitcoin and if MMM collapse, a lot of people would move away from Bitcoin, because it would be associated with the largest Ponzi ever.

Bitcoin will have the reputation linked to Ponzi schemes and we will be tainted being associated with MMM.

[1Referee]

Break out? Not really. I think we'll keep bouncing between the well known $360-$410 levels for some time.

The break out will come closer to the halving, not now. There are also rumors of MMM <Ponzi> nearing a full collapse and I think this will push the Bitcoin price down a lot more. In many countries MMM asked users to shift funds using Bitcoin and if MMM collapse, a lot of people would move away from Bitcoin, because it would be associated with the largest Ponzi ever.

Bitcoin will have the reputation linked to Ponzi schemes and we will be tainted being associated with MMM.

I think the price crash from $500 in november was mainly caused because of the MMM coins being dumped, so I'm not really worried about this. But if..... If these coins haven't been dumped yet, then yes, we can expect the price to tank even more.

[Lethn]

I'm holding long term, I will be trying to build up as much as possible this year, regardless of what's happening with other coins I think Bitcoin is definitely going to have a big rise again, there are lots of conditions being cleared that I have thought about, the biggest one being that the economies are starting to collapse now.

[indiemax]

Break out? Not really. I think we'll keep bouncing between the well known $360-$410 levels for some time.

The break out will come closer to the halving, not now. There are also rumors of MMM <Ponzi> nearing a full collapse and I think this will push the Bitcoin price down a lot more. In many countries MMM asked users to shift funds using Bitcoin and if MMM collapse, a lot of people would move away from Bitcoin, because it would be associated with the largest Ponzi ever.

Bitcoin will have the reputation linked to Ponzi schemes and we will be tainted being associated with MMM.

I think the price crash from $500 in november was mainly caused because of the MMM coins being dumped, so I'm not really worried about this. But if..... If these coins haven't been dumped yet, then yes, we can expect the price to tank even more.

I can't see the MMM Ponzi coins being a problem,most of those coins would have been cashed now, the collapse only means there are no funds left

Unfortunately,Bitcoin and Ponzi are linked the same as with terror, guns,drugs etc but no more than fiat is,it's just the media making  fud that sticks
Plus plenty of scam coins,ICO crap being released like diarrhea,that doesn't help
Honest Devs would welcome a bit of regulation  to get taken seriously by average Joe