Last correction before 700+ breakout

[Doms]

Let's not get ahead of ourselves here. At the current price, the $650 resistance will be tested in the coming days. Let us see how the price behaves from here on in. If the price successfully breaks that resistance and eventually goes to $700, I hope it is not too soon. Too fast a rise almost always results in quick drops as well. Better for the price to move up slowly, and pull back a little so that it is something that's more healthy and within the normal movement.

[ynef]

Less than $50 more to rise for it to reach $700. It's looks so delicious... However Bitcoin is crazy. And the traders even crazier. If it reaches $700 there could be a significant dump shortly after.

[kwukduck]

Y'all completely delusional. This market is owned by a hand full of people. It's pure manipulation to get you to spend your fiat and make them rich.

Consider all the flaws in bitcoin at protocol level.

Bitcoin does not scale!
Bitcoin is not anonymous!
Bitcoin is a privacy risk!
Bitcoin is too slow for real world applications!
Bitcoin does not allow much more than just fake fantasy money unlike many smart dynamic blockchains!
Bitcoin is mostly owned and controlled by a hand full of people!
Bitcoin makes you suspect of illegal activities!

[bamboylee]

Let's not get ahead of ourselves here. At the current price, the $650 resistance will be tested in the coming days. Let us see how the price behaves from here on in. If the price successfully breaks that resistance and eventually goes to $700, I hope it is not too soon. Too fast a rise almost always results in quick drops as well. Better for the price to move up slowly, and pull back a little so that it is something that's more healthy and within the normal movement.

The 650 price is quite holding quite steadily. I think it will break that resistance soon. It does not matter if it reach 700 too soon as long as it stays there. It has reached that price before and even hit 800 a few months back. If not for some bad events, it could have stayed at that price and it could be higher now.

[iamnotback]

Classic triangle pattern forming if you look back at the last big august correction. Then we had another correction, a weaker one, and now, another weaker one. Increasingly weaker corrections with an overall uprising price: breakout incoming. Last chance for the idiots still doubting to buy to get in now or never.

r0ach or anyone, do you have any analysis you can share on the likely direction of the BTC price between now and December?

I had written in your blog last month that this looks like a pause on the way for probably all time highs, given a cpu&handle at $700. What are you seeing in your current analysis?

[20kevin20]

We all hope for that price, and we'll see it until the next summer. In the winter of 2017 we'll have a big surprise, I believe we will! Just wait for it!!

[AlexGR]

Classic triangle pattern forming if you look back at the last big august correction. Then we had another correction, a weaker one, and now, another weaker one. Increasingly weaker corrections with an overall uprising price: breakout incoming. Last chance for the idiots still doubting to buy to get in now or never.

r0ach or anyone, do you have any analysis you can share on the likely direction of the BTC price between now and December?

I had written in your blog last month that this looks like a pause on the way for probably all time highs, given a cpu&handle at $700. What are you seeing in your current analysis?

Personally I'm not into technical analysis, but I consider the high 700's as a possible scenario before year's end.

[jondeen707]

Consider all the flaws in bitcoin at protocol level.

Bitcoin does not scale!
Bitcoin is not anonymous!
Bitcoin is a privacy risk!
Bitcoin is too slow for real world applications!
Bitcoin does not allow much more than just fake fantasy money unlike many smart dynamic blockchains!
Bitcoin is mostly owned and controlled by a hand full of people!
Bitcoin makes you suspect of illegal activities!

With few exceptions, the same can be said about fiat currencies.

[Barbut]

This is good if it`s true. Bitcoin was there and after drop many of us waiting 700+ to come back again. Price is slightly increased in last week, I understand why you call that correction, it`s like collection power before jump.
We need to be patient with price, I believe in increase but maybe that increase will not come so fast. Bitcoin still have time to rise on 700 and more, we have few more months before new year, and next year, and year after. In that time price will go up for sure.

[Johnyloco]

Consider all the flaws in bitcoin at protocol level.

Bitcoin does not scale!
Bitcoin is not anonymous!
Bitcoin is a privacy risk!
Bitcoin is too slow for real world applications!
Bitcoin does not allow much more than just fake fantasy money unlike many smart dynamic blockchains!
Bitcoin is mostly owned and controlled by a hand full of people!
Bitcoin makes you suspect of illegal activities!

With few exceptions, the same can be said about fiat currencies.

When I first read his post, I had to agree with him. Though I'm a bitcoin user, so I will still use it. Now your comment is also completely true. To be honest, both are true

[talkbitcoin]

breakout meaning has changed for bitcoin, before it was a huge rise from $100 to $1000 but these days breakout means a slow rise as big as $20 and less than $50
the good news is that the rise happens no matter what, and i think that is better than no rise and getting stuck.

[DonQuijote]

Yes, we'll have a good Christmas

[jondeen707]

Consider all the flaws in bitcoin at protocol level.

Bitcoin does not scale!
Bitcoin is not anonymous!
Bitcoin is a privacy risk!
Bitcoin is too slow for real world applications!
Bitcoin does not allow much more than just fake fantasy money unlike many smart dynamic blockchains!
Bitcoin is mostly owned and controlled by a hand full of people!
Bitcoin makes you suspect of illegal activities!

With few exceptions, the same can be said about fiat currencies.

When I first read his post, I had to agree with him. Though I'm a bitcoin user, so I will still use it. Now your comment is also completely true. To be honest, both are true

That's true, but obviously, we can't make do with just bitcoins for the time being and to some extent bitcoin is a great alternative to fiat putting a lot into perspective.

[serjent05]

Y'all completely delusional. This market is owned by a hand full of people. It's pure manipulation to get you to spend your fiat and make them rich.

Consider all the flaws in bitcoin at protocol level.

Bitcoin does not scale!
Bitcoin is not anonymous!
Bitcoin is a privacy risk!
Bitcoin is too slow for real world applications!
Bitcoin does not allow much more than just fake fantasy money unlike many smart dynamic blockchains!
Bitcoin is mostly owned and controlled by a hand full of people!
Bitcoin makes you suspect of illegal activities!

At least I can buy goods online without going thru painful identification process of the bank system.  Aside from that, they wont get to hack my visa card or credit card when am purchasing goods , it is more safer than doing those stuff.  Card numbers and its secret pin being hacked or exploited by the site you are dealing with.  Sounds scary.

[Greenenergy]

Let's not get ahead of ourselves here. At the current price, the $650 resistance will be tested in the coming days. Let us see how the price behaves from here on in. If the price successfully breaks that resistance and eventually goes to $700, I hope it is not too soon. Too fast a rise almost always results in quick drops as well. Better for the price to move up slowly, and pull back a little so that it is something that's more healthy and within the normal movement.

The resistance broke so quickly. That's what catched my eye, that every day that passed, 20$ were added to the price.

[bitebits]

Y'all completely delusional. This market is owned by a hand full of people. It's pure manipulation to get you to spend your fiat and make them rich.

Consider all the flaws in bitcoin at protocol level.

List of random reasons.

And even then each bitcoins is currently valued at $650. And Bitcoin keeps on ever improving, evolving and being adopted.

[ynef]

666 was broken so easily this time around. 

[bitkng]

666 was broken so easily this time around. 

Next week it may cross 700

[Denker]

666 was broken so easily this time around. 

Next week it may cross 700

It may happen already this week who knows.There are still 3 days left and it seems China is again the main country pumping Bitcoin the most.
At least I could see us touching the 700, testing how strong the resistence is and then with the beginning of next week trying to break through it.

[Dux2K]

666 was broken so easily this time around. 

Next week it may cross 700

i have some ffeeling that the price will be 700 this weekend
This is just my gut feeling for the moment and I hope it will be like that