Short-Term Market Movement Discussion/Predictions

[smoothie]

I wouldnt be surprised if we had a head fake....

Flash to $120 then up to $145+....shake the weak hands out once more haha

[jubalix]

yawn who cares, it was $30 just a few months ago, and your all worried about it going to 100?

300% above where is was.....?

....strong hands....

just don't sell out even if it goes to 0.00001.....buy buy buy

[ironstove]

If the 120 wall can manage to hold along with a breakthrough of 140. At the moment, 120 seems to hold a lot of support, but nobody knows how much of it is real or fake walls of large AONs to boost confidence, as the volume and pvt indicate people are looking to buy expecting the price to go down versus up.

Due to the fact that the alt-coins are so interlocked in performance with one another, we can use them as an indicators on the future price of BTC, but that's unlikely as it is always the other way around. BTC determines the price of the alt-currencies. At the moment, I believe it is a safe bet to hedge against btc using fiat and alt-coins with nmc probably being the least volatile (before fiat ofc) and ltc/ppc having the most upside but strong correlation with btc price.

I am looking forward to where the price will be by Thursday May 2nd. The selling pressure has diminished but seems that buying confidence is also down. Volume has hit an all-time low.

My recommendation is to hold at least 40% of total portfolio as fiat or alt-coin with conservatively placed stop/limit orders, it is extremely risky at this point to hold all assets in BTC as the price can move sharply in any direction. Best of luck

[Zaih]

Yeh yeh yeh. OP you're so smart

[HBBZ]

It's my humble opinion that 2011 is forever gone. In 2011, the price didn't touch the botttom until the end of the year. In 2013, the price touched the bottom in 2 days and then went its way happily without any burden of the past.  . It's day time now, many still live in the dark nights.

[ironstove]

Just wait until the end of May. Corrections do not happen in a couple of days, or even weeks. It happens over months.

[evolve]

+1

[ironstove]

120 wall has been cracked. Next support level will be 100, which will fall soon enough.

Expect the rebound to stop at 120, sell some of your btc and hold fiat or hedge into alt-cryptos, that is my recommendation, or just hold all of your btc and come back in 2 years and see if they are worth either $0 or $1000

[Frozenlock]

You expect the bubble pop to take as long as in 2011?

Hell, any price in 3 months seems to be a wild guess.

[ironstove]

There are wild and educated guesses, my educated guess based on many indicators and studies that I've done predicts the price to be sub 100 by the end of May to Mid-June, very small and slow upwards growth beginning again around August. Alternative theory I'm beginning to craft is the price decline being more far reaching and the recession in price lasting until mid 2014, but not enough info/support to make that my primary guess atm.

Should you sell all of your holdings? No, I still hold a sizable amount of my portfolio 40% in BTC, with 20/20 being hedged in fiat/alt cryptos, as I gather more information with each passing day, the picture becomes more clear and I'm able to adjust this distribution accordingly. Don't listen to anyone on these forums including me, just use the info here as guidelines on areas to follow up on. Most of the TA posted on here is amateurish and 98% of the fundamentals/speculation are based on hype and not real facts (such as predicting Eurozone collapse will send btc to the moon is a bunch of nonsense).

[ironstove]

100 wall broke faster than expected, might see a flash crash down to 70 with a flash rebound to the 110s, overall everything still on schedule.

Price will be lower than it is today come June...

[Ichthyo]

100 wall broke faster than expected, might see a flash crash down to 70 with a flash rebound to the 110s, overall everything still on schedule.

Not really surprising. 100 was never a really relevant stop point recently. We got past 100 surprisingly fast on the move up and same so on the rebound back from 50+

To the contrary, 90 and 120/130 seem to be nailed into our public memory as being way more relevant.

[ironstove]

Seems that the recent flash to 80 was too quick for my taste, my personal take is that we're crossing into oversold territory, might see a rebound to ~110 soon before returning back on the downward trend and slowly heading back.

[awakening]

Seems that the recent flash to 80 was too quick for my taste, my personal take is that we're crossing into oversold territory, might see a rebound to ~110 soon before returning back on the downward trend and slowly heading back.

110 ? No way.

[N12]

Seems that the recent flash to 80 was too quick for my taste, my personal take is that we're crossing into oversold territory, might see a rebound to ~110 soon before returning back on the downward trend and slowly heading back.

110 ? No way.

It's possible, retracements can be quite violent. If it's worth trading it is another question.

[xorglub]

More like high-90s for a 50% retracement of the last selloff. Which seems to be happening now.

[ironstove]

I've revised my target high for the weekend to ~107 based on price movement over the last 12 hours. Have limit sells set a little below that which I hope to see filled

High 90s is a more reasonable target, I'd say 97 is a very safe target and I have placed a few orders around that area, but considering the volatility of the market I would not be surprised to see it break the 100s for a short period of time.

However by end of next week I believe we will be treading the 75 territory.

[xorglub]

So far so good

[ironstove]

Original targets of 110 and 107 both striked out.

High has reached 116 and the day has just started!! very surprising indeed! Nice stuff to wake up to in the morning

My sets of limits I placed between 105-115 were all eaten up, but not so much the 115-125s that I placed, which I am probably going to cancel and place @ different tiers once I do some recalibrating.... Regardless based on this strong momentum and volume, might even see 130 striked by the end of Sunday.

[bitleif]

Seems that the recent flash to 80 was too quick for my taste, my personal take is that we're crossing into oversold territory, might see a rebound to ~110 soon before returning back on the downward trend and slowly heading back.

110 ? No way.

I like how confident you are