Wekkel
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Activity: 3108
Merit: 1531
yes
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November 25, 2013, 07:47:49 AM |
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The technical picture is deteriorating. I'm with reptilia on this one: buy cheaper coins in about 1-2 days.
Has bitcoin ever rallied to an all-time high and then stabilized right near the top for a few days, and only then crashed significantly lower? That has never been the pattern before. I think the fact that we're consolidating just under the ATH is bullish for another surge to the upside within 1-2 days. I just look at technicals: *Failed to exceed previous high *Lower highs last few days *Hourly/2 hourly flipping *MA crosses everywhere Bitcoin is Bitcoin for neglecting these kinds of things, but that requires buying power. My best guess.is the guns will remain holstered for the next few days. |
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freebird
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Activity: 414
Merit: 250
Freedom through Cryptocurrency!
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November 25, 2013, 07:50:14 AM
Last edit: November 25, 2013, 08:01:27 AM by freebird |
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The technical picture is deteriorating. I'm with reptilia on this one: buy cheaper coins in about 1-2 days.
Has bitcoin ever rallied to an all-time high and then stabilized right near the top for a few days, and only then crashed significantly lower? That has never been the pattern before. I think the fact that we're consolidating just under the ATH is bullish for another surge to the upside within 1-2 days. It's exactly like that.  What happened after this? That chart shows a consolidation at about 50-65% of the ATH in 2011. We are currently sitting at only 10-15% less than the ATH. I think that's a significant difference, from a technical perspective. But is that difference good (bullish) thing?  I admit we could be forming a double top. However, I believe it's more likely that we're forming a cup and handle, resulting in one more big rally to a new ATH, somewhere above $1000. After that, then probably a more significant correction and consolidation period. The cup was on Nov. 19-20, and the handle is the last two days. See hourly chart. |
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macsga
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Activity: 1484
Merit: 1002
Strange, yet attractive.
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November 25, 2013, 08:01:34 AM |
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We're relatively stable at these levels for about 2 days now. I think that maybe rpietila is right about a stabilized period. Watching...  |
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ChartBuddy
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Activity: 2366
Merit: 1819
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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November 25, 2013, 08:02:09 AM |
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beetcoin
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November 25, 2013, 08:05:01 AM |
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We're relatively stable at these levels for about 2 days now. I think that maybe rpietila is right about a stabilized period. Watching... it's been the weekend the past 2 days.. volume is usually much lower. that's not a good indicator at all. i'd say we'll have a better feel by wednesday. |
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Pruden
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November 25, 2013, 08:27:51 AM |
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All exchanges have their order books looking overbought. The best thing I can hope for is consolidation, and I don't give it more than 20% chance. Probably we'll retest the 600-700$ zone
In the long term (that is, 30 days from now) I'm bullish of course, but the price has absolutely no intention of going up soon.
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libity
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Activity: 33
Merit: 0
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November 25, 2013, 08:30:13 AM |
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Anyone else getting a "403 Forbidden" when trying to log in to Gox?
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MahaRamana
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November 25, 2013, 08:31:27 AM |
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All exchanges have their order books looking overbought. The best thing I can hope for is consolidation, and I don't give it more than 20% chance. Probably we'll retest the 600-700$ zone
In the long term (that is, 30 days from now) I'm bullish of course, but the price has absolutely no intention of going up soon.
That would be great news. I have $30k waiting to be parked in bitcoin... |
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meh32123
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Activity: 111
Merit: 10
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November 25, 2013, 08:32:33 AM |
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IMO the latest "crash" was just a correction, the bubble is just getting started.
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rpietila
Donator
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Activity: 1722
Merit: 1036
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November 25, 2013, 08:35:33 AM |
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If it stays this way, it will show in charts as a record +90% week, so hardly a crash |
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Davyd05
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November 25, 2013, 08:42:10 AM |
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I guess logically speaking the dump would be best timed following new money entering...panic sell. I think that is what happened last time at 850...I think too the moon literally plays out to the new blood as .. 5 digits by jan or zero by december.. lol
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macsga
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Activity: 1484
Merit: 1002
Strange, yet attractive.
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November 25, 2013, 08:42:22 AM |
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If it stays this way, it will show in charts as a record +90% week, so hardly a crash My thoughts exactly. |
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BitPirate
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Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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November 25, 2013, 08:42:43 AM |
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+1 we haven't had a real crash for a long time.
Miners, y u no sell?
(They will eventually)
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Miz4r
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Activity: 1246
Merit: 1000
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November 25, 2013, 08:45:19 AM |
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+1 we haven't had a real crash for a long time.
Miners, y u no sell?
(They will eventually) I sold 1 mined bitcoin recently, and then I bought it back later.  |
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hmmmstrange
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November 25, 2013, 08:56:26 AM |
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+1 we haven't had a real crash for a long time.
Miners, y u no sell?
(They will eventually)
They have liquidated all their btc in the last 6 months to buy mining rigs and are in the process of rebuilding their stashes. |
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Nemo1024
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Activity: 1680
Merit: 1014
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November 25, 2013, 08:58:55 AM |
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+1 we haven't had a real crash for a long time.
Miners, y u no sell?
(They will eventually)
Who said miners only mine? Sold 7 minted coins recently to buy back 9. |
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Rampion
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Activity: 1148
Merit: 1018
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November 25, 2013, 09:06:07 AM |
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+1 we haven't had a real crash for a long time.
Miners, y u no sell?
(They will eventually)
They have liquidated all their btc in the last 6 months to buy mining rigs and are in the process of rebuilding their stashes. This. Rebuilding their stashes at a loss, which will make them to hold tighter. |
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nanobrain
Legendary
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Activity: 1008
Merit: 1000
Dumb broad
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November 25, 2013, 09:09:25 AM |
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Good ol' BTC...all the sages come and forecast gloom....up it goes $30  I know, I know its only temporary |
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Davyd05
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November 25, 2013, 09:11:59 AM |
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stamps feeling bullish.. decided the waters had become to calm.
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zoinky
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November 25, 2013, 09:14:57 AM |
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Today shall be full of rising!  |
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