Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN?

[proudhon]

s3052 via twitter:

We were wrong with the short term call. Bitcoin prices may be in a capitulation decline before attempting a reversal.

For balance I might add that prices may be in a decline before not attempting a reversal.

[S3052]

One have to admit when a short term call is wrong. And yes, the alternate scenario is now the active scenario.
Very few believe that there will be a strong up move once the irrational capitulation phase is over, and we will see. Weak hands are selling now, strong hands will collect the coins OR: bitcoin long term trend breaks and the entire bitcoin movement will slow down a lot. we will see.

And it is exactly for this reason why I have drawn this uptrend line months ago (many have called me stupid when I said that we will test this uptrend line). and if it breaks, big problem for bitcoins. People who own bitcoins should watch this line now closely. If it will not be held, it is very bearish. we see a decline below now and the next 2-3 days are decisive.

[wobber]

We will see. Bitcoin is great for what it was intended, a decentralized secure digital currency not a speculative currencomodity.

Prices go down, and as S3052 sais, weak hands sell, weak people that bought up to 32 believing it will be 100 by the end of the year. Bitcoin's price is irrelevant, it matters what we can do with it. Sure, it will worth a lot in the future but now it's a weapon to fight globalization an mass-control. That's why I won't sell more than I need to.

Also, I do this thing, and bet others do it too. Sell, then buy-back more at a lower price. Just to earn more. So people trust and want to use bitcoin but not (yet) at over than $4.

[proudhon]

Also, I do this thing, and bet others do it too. Sell, then buy-back more at a lower price. Just to earn more. So people trust and want to use bitcoin but not (yet) at over than $4.

Just so you know, that strategy is very likely a large part of why the price continues to fall.  If enough people are trying to do that by selling into the bids and not enough people are willing to buy into the asks, then the price will just continue on down.  So, keep it up.  I want you guys to run this thing right into the ground.

[wobber]

Just so you know, that strategy is very likely a large part of why the price continues to fall.  If enough people are trying to do that by selling into the bids and not enough people are willing to buy into the asks, then the price will just continue on down.  So, keep it up.  I want you guys to run this thing right into the ground.

When I started I had $0 and thousands of coins. How could I have bought?

[BitterTea]

I want you guys to run this thing right into the ground.

Why?

[proudhon]

Just so you know, that strategy is very likely a large part of why the price continues to fall.  If enough people are trying to do that by selling into the bids and not enough people are willing to buy into the asks, then the price will just continue on down.  So, keep it up.  I want you guys to run this thing right into the ground.

When I started I had $0 and thousands of coins. How could I have bought?

Bingo.  You couldn't have.  But you could have sold, pushing the price down, on the hope that you could buy back more later.

[S3052]

Active times.. We have seen a big reversal upwards.

[BitterTea]

Active times.. We have seen a big reversal upwards.

Could you elaborate?

[ineededausername]

Active times.. We have seen a big reversal upwards.

Could you elaborate?

I ain't seein no reversal 

[wobber]

Active times.. We have seen a big reversal upwards.

What's this reversal about? Rally? How can we rally when there is a massive input of coins from mining each day? People will be deceived one more time?

Does reversal mean no more decline and a stable price?

[S3052]

Active times.. We have seen a big reversal upwards.

Could you elaborate?

The turn took place on the short term (minute) time scale. This upmove was the strongest in many days and could be the start of a larger bounce / reversal.
A move above 3.7 $ will now confirm at least another move up.
see chart

[zhoutong]

Just so you know, that strategy is very likely a large part of why the price continues to fall.  If enough people are trying to do that by selling into the bids and not enough people are willing to buy into the asks, then the price will just continue on down.  So, keep it up.  I want you guys to run this thing right into the ground.

When I started I had $0 and thousands of coins. How could I have bought?

Now you can long Bitcoin with Bitcoins, on Bitcoinica.

Try it out!

https://www.bitcoinica.com/

[zhoutong]

Just so you know, that strategy is very likely a large part of why the price continues to fall.  If enough people are trying to do that by selling into the bids and not enough people are willing to buy into the asks, then the price will just continue on down.  So, keep it up.  I want you guys to run this thing right into the ground.

When I started I had $0 and thousands of coins. How could I have bought?

Now you can long Bitcoin with Bitcoins, on Bitcoinica.

Try it out!

https://www.bitcoinica.com/

but if he had $0 he wouldn't be able to fund a bitcoinica account, right?

Now we support BTC deposits. Just deposit Bitcoins into the account, and trade like USD.

Margin trading will make everything possible.

[fivebells]

The turn took place on the short term (minute) time scale. This upmove was the strongest in many days and could be the start of a larger bounce / reversal.
A move above 3.7 $ will now confirm at least another move up.

  Do your charts ever tell you to sell?  Do you just keep mum, then?

[BadBear]

The turn took place on the short term (minute) time scale. This upmove was the strongest in many days and could be the start of a larger bounce / reversal.
A move above 3.7 $ will now confirm at least another move up.

  Do your charts ever tell you to sell?  Do you just keep mum, then?

I know, right..

Minor bump doesn't mean reversal, it;s just a bounce on the way down, same as at 4, 5, 6, it will just happen at smaller increments since the price is getting so low.  Until the denial phase finishes anyway, then the panic selling starts.  Probably when it gets below 3. 

[BC-Trader]

Active times.. We have seen a big reversal upwards.

Could you elaborate?

The turn took place on the short term (minute) time scale. This upmove was the strongest in many days and could be the start of a larger bounce / reversal.
A move above 3.7 $ will now confirm at least another move up.
see chart

Do you really believe what you are saying?

12 year Trader experience.....really?

I can only imagine how many times you have busted out in those 12 years  

But alas, know your target audience and I see you are selling "subscriptions" to your technical analysis(lol). You are I know that the only ones you could hope to subscribe are the ones of the bullish mindset so it is no surprise to me that you are constantly bullish in the face of a flat/declining market for the past 6 months.

It doesn't change anything that the bulls have been dead  wrong for god knows how long.

Oh and taking a quick look at your site your elliot wave count is...well.....lol..... and you using log charts in the majority of your charting is also quite funny.


Not an attack, just a few observations from an actual trader

Carry on....

[pent]

I have no facts, just feeling as always ) I think a lot of traders keep valued long term positions @4,5,6,7,... And if bullish rally really start, it will be pushed back by them. Also, 7000 daily generated coins not supporting bullish predictions ) And where are the buyers? They sit on their bucks and wait for something. And something do not happen.

Any optimists yet?

[grod]

Any optimists yet?

Oooh ooh me me!  I'm an optimist.  Just not at $3.  We'll talk again after capitulation and a recognizable up trend.  I'm willing to give up some potential profit not to buy in at the support level of a possible quintuple bottom (each one lower than the last) like the roaring bulls.

[nmat]

Almost ideal Elliott Wave. Rally "now or never...!"
http://www.bitcoinbullbear.com/

Now that we hit 2.9 can we please drop the "rally to $30" talk? At least for the next couple of months... I am interested to know where the bottom is and I hope that the price will finally stabilize (maybe around $2?).