Price down to 1.25 - How low will it go?

[oakpacific]

10 has never been breached before, should offer a massive support.

[1714831171]

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[1714831171]

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[rpietila]

10 has never been breached before, should offer a massive support.

My gut tells me that we will go to 3.5'ish after which the selloff abates, following by a dead cat bounce to about 8. That will be a brilliant selling opportunity. (Of course now is even better)

[Sage]

The price will settle at it's true value before the Bitcoin fear driven spike.  (About where it was trading before the spike).

The spike was never driven by fundamentals... only by fear.

[oakpacific]

OMG, USD COMES BACK!! A rally to 14.4, with a volume of 150000, BUY! BUY! BUY!

[Peter Lambert]

Down we go some more, we hit 10.5 today. Those single digits are just calling to us, who wants to push the price down that last little bit?

[rpietila]

Down we go some more, we hit 10.5 today. Those single digits are just calling to us, who wants to push the price down that last little bit?

I think the buyers will take the opportunity to buy at this stage. We could see a mini-runup to about 11-12 during the weekend, even higher, as the sellers cannot easily respond due to the bank holiday.

Smashing the supposed support of 10 for good, will not take more than 1-2 weeks, imo. It will offer an ultimate resistance to the price during any subsequent dead cat bounces later down the road.

[Peter Lambert]

Down we go some more, we hit 10.5 today. Those single digits are just calling to us, who wants to push the price down that last little bit?

I think the buyers will take the opportunity to buy at this stage. We could see a mini-runup to about 11-12 during the weekend, even higher, as the sellers cannot easily respond due to the bank holiday.

Smashing the supposed support of 10 for good, will not take more than 1-2 weeks, imo. It will offer an ultimate resistance to the price during any subsequent dead cat bounces later down the road.

Looking at the past few price changes, I think we might see a spike back to 13 just before the price drops below 10.

[oakpacific]

Down we go some more, we hit 10.5 today. Those single digits are just calling to us, who wants to push the price down that last little bit?

I think the buyers will take the opportunity to buy at this stage. We could see a mini-runup to about 11-12 during the weekend, even higher, as the sellers cannot easily respond due to the bank holiday.

Smashing the supposed support of 10 for good, will not take more than 1-2 weeks, imo. It will offer an ultimate resistance to the price during any subsequent dead cat bounces later down the road.

Looking at the past few price changes, I think we might see a spike back to 13 just before the price drops below 10.

I am gonna panic sell this "dead cat bounce".

[rpietila]

Down we go some more, we hit 10.5 today. Those single digits are just calling to us, who wants to push the price down that last little bit?

I think the buyers will take the opportunity to buy at this stage. We could see a mini-runup to about 11-12 during the weekend, even higher, as the sellers cannot easily respond due to the bank holiday.

Smashing the supposed support of 10 for good, will not take more than 1-2 weeks, imo. It will offer an ultimate resistance to the price during any subsequent dead cat bounces later down the road.

Looking at the past few price changes, I think we might see a spike back to 13 just before the price drops below 10.

I am gonna panic sell this "dead cat bounce".

The cold-blooded panic selling is always a prudent choice of action in this market. I would say the rally stalls at 12 maximum though. I have sells spread out in the range of 11-12 based on this idea.

[Peter Lambert]

Down we go some more, we hit 10.5 today. Those single digits are just calling to us, who wants to push the price down that last little bit?

I think the buyers will take the opportunity to buy at this stage. We could see a mini-runup to about 11-12 during the weekend, even higher, as the sellers cannot easily respond due to the bank holiday.

Smashing the supposed support of 10 for good, will not take more than 1-2 weeks, imo. It will offer an ultimate resistance to the price during any subsequent dead cat bounces later down the road.

Looking at the past few price changes, I think we might see a spike back to 13 just before the price drops below 10.

See that? Do you see that? The price just spiked up to 13.3, just like I said it would! Am I amazing or what?

[rpietila]

I think the buyers will take the opportunity to buy at this stage. We could see a mini-runup to about 11-12 during the weekend, even higher, as the sellers cannot easily respond due to the bank holiday.

Smashing the supposed support of 10 for good, will not take more than 1-2 weeks, imo. It will offer an ultimate resistance to the price during any subsequent dead cat bounces later down the road.

Looking at the past few price changes, I think we might see a spike back to 13 just before the price drops below 10.

See that? Do you see that? The price just spiked up to 13.3, just like I said it would! Am I amazing or what?

Yeah, you are so amazing. Although it was particular to the big one. In other exchanges 13 wasn't breached, and it didn't give support anyway. Now we are back to 11, because the cold-blooded panic sellers have again taken the upper ground. My asks were filled and I am happy.

[Peter Lambert]

I think the buyers will take the opportunity to buy at this stage. We could see a mini-runup to about 11-12 during the weekend, even higher, as the sellers cannot easily respond due to the bank holiday.

Smashing the supposed support of 10 for good, will not take more than 1-2 weeks, imo. It will offer an ultimate resistance to the price during any subsequent dead cat bounces later down the road.

Looking at the past few price changes, I think we might see a spike back to 13 just before the price drops below 10.

See that? Do you see that? The price just spiked up to 13.3, just like I said it would! Am I amazing or what?

Yeah, you are so amazing. Although it was particular to the big one. In other exchanges 13 wasn't breached, and it didn't give support anyway. Now we are back to 11, because the cold-blooded panic sellers have again taken the upper ground. My asks were filled and I am happy.

I guess since it did not yet drop below 10 my prediction was only half correct. 

[rpietila]

I guess since it did not yet drop below 10 my prediction was only half correct. 

It will certainly not drop below 10 before next week. The buyers are strongly in control, as the bank holiday hinders the delivery of merchandise to the exchanges. When the influx of dollars to be sold resumes on Tuesday, we will see some serious action to the downside. I don't think 10 will hold for long. In general, I see that the only thing that hinders the crash from accelerating, is the inability of the exchanges to clear enough dollars to be sold.

[oakpacific]

You know what? This is probably the only long-term serious analysis thread on this subforum right now.

[Peter Lambert]

Down into single digits now, just hit 9.97.

[jwzguy]

Down into single digits now, just hit 9.97.

We haven't seen the bottom.

[Peter Lambert]

Down into single digits now, just hit 9.97.

We haven't seen the bottom.

We leveled off for a few days at about 20, then the Cyprus news hit and we dipped down to where it is now, about 10. I suspect we will we the price stay level between about 9 and 11 for a few days or weeks unless another major news hits.

[jwzguy]

[rpietila]

It will certainly not drop below 10 before next week. The buyers are strongly in control, as the bank holiday hinders the delivery of merchandise to the exchanges. When the influx of dollars to be sold resumes on Tuesday, we will see some serious action to the downside. I don't think 10 will hold for long. In general, I see that the only thing that hinders the crash from accelerating, is the inability of the exchanges to clear enough dollars to be sold.

The prediction was too conservative, it seems that the sellers are in charge now..

[aes1]

So the psychological barrier has been breached.

I've been following another price, EUR/mBTC, closely and expect it to follow suit in the near future (currently at 12.21). I'm not sure if it will be as big news as this one, though.