Does anyone know where the BTC price is heading?

[Gordonium]

100$/BTC today.

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[arepo]

this thread is like walking through a madhouse. you're delusional if you think today's candle is going to be green.

[zoolander]

this thread is like walking through a madhouse. you're delusional if you think today's candle is going to be green.

But look at all the "cheap" coins!!!!! BUY BUY BUY!

[evolve]

Slow slide to singles.

[flaab]

To 20 bucks. Or so.

[muyuu]

Up to $300 this year.

[arepo]

-===-

if anything, the bitcoin market is more efficient now.

we shed 80% of the inflated price in 3 days. this price collapse is unprecedented in bitcoin history with the exception of the 90+% collapse of the June bubble, but that occurred over many months. in that way this is the single largest collapse in bitcoin history.

of course, it was necessary. i think reddit is largely to blame here, judging by the explosion in the subscriber base to /r/bitcoin and because the rally was already showing signs of exhaustion around $40 -- it was a bubble on top of a bubble.

we were enjoying 'sustainable exponential growth' (linear on a log graph) before the price went parabolic above $40, and then immediately corrected. this led into a long period of triangular consolidation that brokeout strongly UP, sparking the continuation of the parabolic move. at this point our fates were sealed.


the good news is...

...that we've already reached an important support/resistance in the Price-Volume Trend. right now we are about 50% higher than the most recent low of $50, suggesting that the ratio of buying to selling pressure may be reaching a critical point. this could yield a short period of sideways consolidation before another large move, likely down, but there are also alternate scenarios. the support pictured above suggests that if we consolidate for any significant amount of time (i.e. if we enter a long period of low volatility like we saw in the April-June period of last year) it would be very bullish indeed.

[Wuji]

Does anyone know where the BTC price is heading?

Yes, down.

[romerun]

above 100 next week no doubt, so many ppl want to get in, this is their chance, maybe the last one for 2 digits, BIG IF, gox do not fuck us over again.

[hgmichna]

It looks as if we are headed for a major bull trap. So buying now may not be such a bad idea.

However, buying in a market that is generally headed downward is risky.

No risk, no fun.

[Qoheleth]

Does anyone know where the BTC price is heading?

Nope!

There's no earthly way of knowing Which direction we are going. There's no knowing where we're rowing Or which way the river's flowing. Is it raining? Is it snowing? Is a hurricane a blowing? Not a speck of light is showing so the danger must be growing. Are the fires of hell a glowing? Is the grisly reaper mowing? Yes! The danger must be growing For the rowers keep on rowing. And they're certainly not showing any signs that they are slowing!

[cAPSLOCK]

Looks like consolidation and accumulation here... someone trading these things knows what they are doing.