What's next (short term) ?

[ft73]

We're finally back in the high 700s after a bounce to 833$ (Bitstamp).

So what's next?

So far i think we'll have a short congestion phase before a new explosion of volatility.
Likely a move down with a possible target in the 680 - 690$ range, within 2-3 days.

Imho.

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[kwukduck]

Bitcoins protocol fundamentals are still broken. Bitcoin does not scale, offers no privacy and no fungibility.
The community largely still only cares about making profit in fiat, not about establishing and evolving a revolutionary alternative monetary system.

[richardsNY]

I don't see any reason at this point for the price to dive below $700 any time soon. Right now the price is somewhat recovering where it's of course still possible to see it go down back to $770-$780, but not much deeper than that. Especially now this whole China thing is being pushed to the background. People realize it was stupid to sell like there is no tomorrow. My target is maintaining the $800 level.

[Kevin77]

Bitcoins protocol fundamentals are still broken. Bitcoin does not scale, offers no privacy and no fungibility.
The community largely still only cares about making profit in fiat, not about establishing and evolving a revolutionary alternative monetary system.

No, you must be wrong. The recent introduction of segwit must be a good witness for that. In a consensus environment it takes time to activate, yet improvements are happening for a revolution of how we are going to exchange.

In short term we can expect bitcoin prices to sustain at current price levels around $850 to gain more power to leap toward $1000 price levels.

[mrcash02]

I'm not sure now, I was thinking the BTC could drop near to $600, but it's stable near $800...

Bitcoins protocol fundamentals are still broken. Bitcoin does not scale, offers no privacy and no fungibility.
The community largely still only cares about making profit in fiat, not about establishing and evolving a revolutionary alternative monetary system.

No, you must be wrong. The recent introduction of segwit must be a good witness for that. In a consensus environment it takes time to activate, yet improvements are happening for a revolution of how we are going to exchange.

In short term we can expect bitcoin prices to sustain at current price levels around $850 to gain more power to leap toward $1000 price levels.

You are thinking a bit high, no? BTC hitted $1000 with some difficulty and some time later the price go down with all strenght. I can't assure this, but I think it's better to wait BTC hit $700 or $600 to start buying again to have total profit on medium-long term.

[jakelyson]

snip

You are thinking a bit high, no? BTC hitted $1000 with some difficulty and some time later the price go down with all strenght. I can't assure this, but I think it's better to wait BTC hit $700 or $600 to start buying again to have total profit on medium-long term.

700 or 600 may not come, but 800 level is already here. It is already a good level to buy since the FUD about the exchanges in China is starting to calm down. You can leave some amount for that level but it is already safe to start buying some bitcoin right now.

[n691309]

We're finally back in the high 700s after a bounce to 833$ (Bitstamp).

So what's next?

So far i think we'll have a short congestion phase before a new explosion of volatility.
Likely a move down with a possible target in the 680 - 690$ range, within 2-3 days.

Imho.

I can't say that 800 is the bottom but there could be a better price and hopefully see the price to reach the 1k again at the end of the month of in February. Within 2-3 days I can't say anything because it is a short frame and many surprises can happen.

[Barbut]

Bitcoins protocol fundamentals are still broken. Bitcoin does not scale, offers no privacy and no fungibility.
The community largely still only cares about making profit in fiat, not about establishing and evolving a revolutionary alternative monetary system.

What did you expect? We need money, it's a reality, and we, I say we cause all of us are in the same shit,  we are depending from that money.
Establishing and evolving alternative monetary system sounds great, but people can't think and work on empty stomach. Alternative for monetary fond is just that, another monetary system where rich people can do what they wish and others are slaves.

[Wind_FURY]

We're finally back in the high 700s after a bounce to 833$ (Bitstamp).

So what's next?

So far i think we'll have a short congestion phase before a new explosion of volatility.
Likely a move down with a possible target in the 680 - 690$ range, within 2-3 days.

Imho.

I have the same opinion as you. We will see the price try to go up but we will likely see Bitcoin back to the lower 700s and higher 600's. I do not think it will happen within 2 or 3 days however. Maybe within 2 to 3 weeks. That is because some people react late and tend to hope that the price will go up again.

[hase0278]

For the next two to three days, I think bitcoin's price will be 850$-700$ and will stabilize at these prices and it will be there for weeks before we see another little or big pump or dump. It can also be that it might hit more than  850$ since panic selling stopped now but the chance of it happening is 50/50 because of China's regulation. Hope it hits more than 850$ though.

[traderethereum]

We're finally back in the high 700s after a bounce to 833$ (Bitstamp).

So what's next?

So far i think we'll have a short congestion phase before a new explosion of volatility.
Likely a move down with a possible target in the 680 - 690$ range, within 2-3 days.

Imho.

the next thing that we do is waiting for another increasing the price if we already to buy bitcoin in price of $700, but if you are not buy in that price, then maybe you can buy it now because i think the price will be increase soon so you can make nice profit. but i think its not possible to go down in under of 680 but its only depend on the market conditions and the panic selling from the traders.

[ft73]

Update to OP.

We're now sitting at about the top of a (hypothetical) channel.
Maximum was 838$.  Current is 821$.

I think we're going to move to the bottom end of the channel (about 760$ ), unless price creeps up from here (unlikely so far).

Volume is low. Volatility may pick up at any time.
Most likely i think we'll see congestion preceeding a bold move within 2 days.

I think it can be a move down and i have doubts 750$ will hold twice.
This said it's not possibile to make a reliable prediction with current volume.

[MFahad]

I don't see any reason at this point for the price to dive below $700 any time soon. Right now the price is somewhat recovering where it's of course still possible to see it go down back to $770-$780, but not much deeper than that. Especially now this whole China thing is being pushed to the background. People realize it was stupid to sell like there is no tomorrow. My target is maintaining the $800 level.

I think anything over 800$  for the bitcoin price is the good price. We saw bitcoin pump to about 1100$ but these things are temporary. What is important is the sustainability at a good price. I see bitcoin might reach 700$ for a short while but will sustain above 800$.

[Tmdz]

Update to OP.

We're now sitting at about the top of a (hypothetical) channel.
Maximum was 838$.  Current is 821$.

I think we're going to move to the bottom end of the channel (about 760$ ), unless price creeps up from here (unlikely so far).

Volume is low. Volatility may pick up at any time.
Most likely i think we'll see congestion preceeding a bold move within 2 days.

I think it can be a move down and i have doubts 750$ will hold twice.
This said it's not possibile to make a reliable prediction with current volume.

A lot of that volume was fake, china has made bold moves.

Auto trading bots should be slowing down, leveraging in china will come to an end and in theory a more honest btc.  That just means we should see more honest volumes and less volatility in the market.  The leveraging was a big problem, when people in china can't leverage 100:1 then it makes a huge impact on the volatility.

The future is actually bright among all the fud.

[Amph]

For the next two to three days, I think bitcoin's price will be 850$-700$ and will stabilize at these prices and it will be there for weeks before we see another little or big pump or dump. It can also be that it might hit more than  850$ since panic selling stopped now but the chance of it happening is 50/50 because of China's regulation. Hope it hits more than 850$ though.

it has never touched $700 yet, maybe you mean $900? it's currently not far away from where it was before chinese begin to dump

it was $900+ now $830, after a bottom below $800, not sure if this is a double bottom or it really started to recover, i'm inclined to think it's the latter

[n0ne]

I don't see any reason at this point for the price to dive below $700 any time soon. Right now the price is somewhat recovering where it's of course still possible to see it go down back to $770-$780, but not much deeper than that. Especially now this whole China thing is being pushed to the background. People realize it was stupid to sell like there is no tomorrow. My target is maintaining the $800 level.

I think anything over 800$  for the bitcoin price is the good price. We saw bitcoin pump to about 1100$ but these things are temporary. What is important is the sustainability at a good price. I see bitcoin might reach 700$ for a short while but will sustain above 800$.

As quoted there won't be big impact felt in the short term, the price sustainability will be there with the price being stabilizing within the range of $800-$900. Possibly bitcoin won't go low to $700, even when world market and Chinese market were found low or down.

[kwukduck]

Bitcoins protocol fundamentals are still broken. Bitcoin does not scale, offers no privacy and no fungibility.
The community largely still only cares about making profit in fiat, not about establishing and evolving a revolutionary alternative monetary system.

No, you must be wrong. The recent introduction of segwit must be a good witness for that. In a consensus environment it takes time to activate, yet improvements are happening for a revolution of how we are going to exchange.

In short term we can expect bitcoin prices to sustain at current price levels around $850 to gain more power to leap toward $1000 price levels.

SegWit increases efficiency maybe 2 or 3 times, which just pushes the problem forward and is no solution.
It also does nothing to make Bitcoin truly fungible or add privacy in any other way.

[MatDerKater]

We're finally back in the high 700s after a bounce to 833$ (Bitstamp).

So what's next?

So far i think we'll have a short congestion phase before a new explosion of volatility.
Likely a move down with a possible target in the 680 - 690$ range, within 2-3 days.

Imho.

Retrace up to $900 region.

[1Referee]

SegWit increases efficiency maybe 2 or 3 times, which just pushes the problem forward and is no solution.
It also does nothing to make Bitcoin truly fungible or add privacy in any other way.

I agree that eventually the larger blocks won't be enough to carry the weight of all the transactions at the time the userbase grows larger, but that's not an issue right now. Segwit will take care of the current "issue" and makes sure we can move at least 1 perhaps 2 years further. What happens after that is something that should be figured out by that time. Regarding the privacy aspect, the far majority of the people here are more than happy with how Bitcoin is. If they want to add an extra layer of privacy on certain transactions, then these people should head over to mixers or even certain altcoins to do the trick. It's that simple.

[BitcoinHodler]

at this point talking about what will happen in the short term is stupid because it is not possible to speculate about it with certainty, and it will only attract trolls and FUD spreaders like kwukduck to speak nonsense.
in short if you trade short term you are taking huge risks and nobody can say anything more than pure guesses.