strawbs
Legendary
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Activity: 875
Merit: 1362
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January 06, 2017, 11:05:25 AM |
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Under the assumption that we are currently forming the handle of a three year cup and handle, how low would the price need to go and how low could it go?
A handle tends to be a drop of between 30% and 50% from the top of the cup rim (i.e. between $587 and $820) |
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starmman
Legendary
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Activity: 1484
Merit: 1029
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January 06, 2017, 11:09:11 AM |
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Under the assumption that we are currently forming the handle of a three year cup and handle, how low would the price need to go and how low could it go?
A handle tends to be a drop of between 30% and 50% from the top of the cup rim (i.e. between $587 and $820) I'd be happy with that range - I have a few buy orders scattered around those values already, as I'm usually caught napping during the surges... |
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Tzupy
Legendary
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Activity: 2198
Merit: 1094
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January 06, 2017, 11:12:00 AM |
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Support broken. Looks like we are in the middle of the second leg down of A.
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Cassius
Legendary
Offline
Activity: 1764
Merit: 1031
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January 06, 2017, 11:12:56 AM |
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Under the assumption that we are currently forming the handle of a three year cup and handle, how low would the price need to go and how low could it go?
A handle tends to be a drop of between 30% and 50% from the top of the cup rim (i.e. between $587 and $820) I'd be happy with that range - I have a few buy orders scattered around those values already, as I'm usually caught napping during the surges... Minus the ~$200 bottom of the cup. So ~$682-876. But really, I wouldn't expect anything too conventional here. |
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Farmer Bill
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January 06, 2017, 11:14:30 AM |
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The quality of journalism in the once revered Times newspaper, is now as poor as any other trashy mainstream rag. "Bitcoins 23% drop biggest in its 23 year history" indeed. Bitcoin has experienced far more violent price movements in its 8 year history. For instance in a 24 hour period 6 - 7th Dec 2013 fell price on Stamp fell from roughly 1020 to 550 which is 185%. Or from 10th to 11th April 2013 price fell from $260 to under $60 around $430% those were the days. Bitcoin is a model of stability now in comparison. |
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ptiper21
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January 06, 2017, 11:15:55 AM |
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around 700-750$ till tomorrow it would be ok!
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OrangeP
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January 06, 2017, 11:20:38 AM |
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There used to be pages of HODL memes when stuff like this happens.
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strawbs
Legendary
Offline
Activity: 875
Merit: 1362
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January 06, 2017, 11:21:11 AM |
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Under the assumption that we are currently forming the handle of a three year cup and handle, how low would the price need to go and how low could it go?
A handle tends to be a drop of between 30% and 50% from the top of the cup rim (i.e. between $587 and $820) I'd be happy with that range - I have a few buy orders scattered around those values already, as I'm usually caught napping during the surges... Minus the ~$200 bottom of the cup. So ~$682-876. But really, I wouldn't expect anything too conventional here. Yeah, I don't think we can see yesterday's drop as the start of a handle, since it was caused by anomalous Chinese yuan news. And btc always does what we least expect, so unless there is any more unexpected 'news' then it could easily rebound from here and re-test the ATH. |
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Ted E. Bare
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January 06, 2017, 11:21:32 AM |
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But doesn't this already look very bottomish?
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2017Bubble
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January 06, 2017, 11:22:50 AM |
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My bet is that we are forming a triangle till feb/march, around the time that etf might be approved.
Lets get tight before another round of hodl.
It looks like we double bottemed but who knows ^^
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orpington
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January 06, 2017, 11:24:37 AM |
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totally W
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offliberty
Newbie
Offline
Activity: 13
Merit: 0
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January 06, 2017, 11:25:26 AM |
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HODLED since 2013 and yet I opened a long leveraged position at ATH, just praying that we already reached the dip otherwise those days are going to be very expensive.
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SnokkomBTC
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January 06, 2017, 11:32:38 AM |
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omg, chinese...
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P_Shep
Legendary
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Activity: 1830
Merit: 1377
I guess this is OK.
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January 06, 2017, 11:33:28 AM |
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I want moar cheap coins
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machasm
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January 06, 2017, 11:34:00 AM |
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Thats encouraging Lets hope things move a bit quicker and segwit is adopted soon. Could be the green light we have all been waiting for. |
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Tzupy
Legendary
Offline
Activity: 2198
Merit: 1094
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January 06, 2017, 11:34:46 AM |
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Support broken. Looks like we are in the middle of the second leg down of A.
Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY. |
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starmman
Legendary
Offline
Activity: 1484
Merit: 1029
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January 06, 2017, 11:35:52 AM |
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Under the assumption that we are currently forming the handle of a three year cup and handle, how low would the price need to go and how low could it go?
A handle tends to be a drop of between 30% and 50% from the top of the cup rim (i.e. between $587 and $820) I'd be happy with that range - I have a few buy orders scattered around those values already, as I'm usually caught napping during the surges... Minus the ~$200 bottom of the cup. So ~$682-876. But really, I wouldn't expect anything too conventional here. Yeah, I don't think we can see yesterday's drop as the start of a handle, since it was caused by anomalous Chinese yuan news. And btc always does what we least expect, so unless there is any more unexpected 'news' then it could easily rebound from here and re-test the ATH. I'm expecting both of those things to happen - then at least I'm prepared for both situations =) |
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orpington
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January 06, 2017, 11:37:12 AM |
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That handle looks long enough to me now, lol.
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