700$ - Support became resistance

[ask]

It looks scary.  Please vote.

[Vahnt]

Daily BB middle line is approx 660 so I think it'll hit support there. If not, then perhaps high 500's/low 600's

[pooya87]

it is too soon and too hard to say anything for sure right now about the bottom since this price ($700) has been reached recently. but the most possible scenario is that we will see $700 + $10 for a while and i doubt any of the POLL prices will be reached!

[zby]

Hidden bull divs on many indicators. Probably needs some time to reload and spring back.

[Invulner]

Idk... $700 didn't last long... Sitting at $698 right now so we'll see i guess. I'd say short term wouldn't go under $660.

[1Referee]

It looks scary.  Please vote.

What's so scary? For a trader these situations are a more than welcome happening. I have sold a few coins at the time the price reached $700 and I am now waiting to buy back (in case the price really goes down).

There are two possibilities right now;

# We'll see the rally pushes through the $700 level again where $750 might get reached.
# Or we'll head down to the lower area of the $600's.

In my situation, if the prices continues to go up, I'll sell some more till the top is reached, and when the price goes down significantly I'll be buying back. Either way, I benefit.

[pooya87]

Idk... $700 didn't last long... Sitting at $698 right now so we'll see i guess. I'd say short term wouldn't go under $660.

your comment does not make any sense my friend. think about what you write for a moment.
first of all price is 700+ in some exchanges and 690+ in some others.
secondly what you said, $698 is only $2 lower than $700 in other words it is about 0.2% . bitcoin has more fluctuation in one day when price was stable at $600 now you worry about 0.2%?

[zby]

700 was support only at bitfinex where there it is already over 700 - so it is not resistance any more.

[ynef]

Posted this in another thread yesterday:



It's a W1 chart which shows the coin is overbought.

If charts mean anything to Bitcoin at all, this whole week could be a downward move. I voted for $620.

[Greenenergy]

So finally what I've been saying was true. I knew that it wouldn't last long. For me it will be 620$.

[crairezx20]

I think the price will go back to normal price when the price is 638 or below. this end of this month or this coming november so some of my bitcoin sold when the price is 700 above..

[calme]

There are all sorts of fallacy names (e.g. "red herring," "denying the consequent," "affirming the antecedent" and so on). What's the one where you only give options that are biased in one direction, so that you only get a belief/response in that direction? For example, "Do you love me or do you just like me?".

In any case, I chose 680, but my forex orders in that range haven't filled. I also had an order for about 676 on Kraken, which also didn't fill. I noticed that had I placed the Kraken order in BTC/Euro equivalent, it would have filled. You can get in lower on Euro, but just watch out for liquidity issues so that you don't get margin called. You can always ask support about the liquidity providers for an exchange you're using.

[calme]

Well, in any case, I shorted on Kraken [but am long (forex) in general from a low price I'll never get stopped out at]. I was the BTC/Euro dump on Kraken that just happened. Might have to stop out the short but I think we'll have one final decline. If I lose, I win. These situations really chill you out about the outcome. That is, when a small portion of your positions are betting against the larger portion. Of course, I refer to the Chinese charts regardless of the exchange I'm on. Someone here mentioned that Kraken is an indicator of what the other exchanges will do, which I don't understand but would love some explanation of. As far as I know, SF is the innovation and CN is the price.

[JimboToronto]

700$ - Support became resistance

Resistance at $700?

All the resistance of butter to a hot knife. 

Up we go.

[Shiroslullaby]

Yoyo $10-20 until we hit around $750.
I'm not sure if we will reach $800, but I'm fairly certain this will be the last time to get Bitcoin close to $700 for a while.

[Kprawn]

The $700 price is just a psychological level for most people.... Once we get past that barrier of thinking, we can take this too much higher

levels. Open your mind to prices that are higher than $1000 and even higher than that. We need to go to $1000+ like the days of the

Willybot, but this time we will do it without a crazy bot. 

[btcdevil]

Now Bitcoin have crossed $700 and went above $750 and now profit booking took back to $700 , now the next range of bitcoin price is $670 - $750

[BitcoinBarrel]

$700 is a good price I think. $600 isn't too bad either. Interesting spot Bitcoin is in right now, could go either way.

[Pitchblackroom]

620$ seems like the bottom but the bottom could break at any time.
However there could be a nice high of 800$. This should be the rough estimate through to the end of this year.
Just my predictions and speculations.

[maku]

From what I notices Op is always pessimistic about market and bitcoin price. For him there is no good news.
Of course we will see some small resistance it is inevitable but major support level stands at $680 while resistance level - $720