price is gunna start slyding hard down to 130.

[XXthetimeisnowXX]

watch as it starts now!!!

[XXthetimeisnowXX]

was just 142 now 139....now 138 yep down we go

[pekv2]

interesting, how the hell do you speculate? don't answer that, I would never get it.

[bitminer2049er]

Personally I would like it to stay low for a while. Still working on mining my first coin. Should be sometime this evening I hope.

[cerebellum]

I think this could still go either way. We could resume the upwards trend from the last days or slide down to 120 to 130 in several waves over the next days.

edit: the next hour or so is critical. if we go down, this is probably part of a larger corrective wave pattern which will continue for a few days, if we go up, this was just a smaller corrective wave to the upwards trend.

[noah977]

What's your rationale for that prediction?

[cerebellum]

What's your rationale for that prediction?

Elliott Waves.
https://i.imgur.com/p0LLtjA.png
I have to correct myself on the timespan, though. This is going a little faster than I thought. At this pace, it will be over today.

[stormlighter]

130 is still ok

[cerebellum]

129.13 and falling.

[bitleif]

What's your rationale for that prediction?

Elliott Waves.

Also known as idiot waves?

[Osso]

This is the usual slide on holidays/weekends.
It is indeed down now to 130 already.
Are you confident that it will go to 120?

[cerebellum]

Also known as idiot waves?

See bottom left part of chart

This is the usual slide on holidays/weekends.
It is indeed down now to 130 already.
Are you confident that it will go to 120?

Seems quite likely to me that we will see 121-123. But honestly, the 125 support could also be the end. What's more important, is that the last wave should consist of a five wave pattern, which means that after the next small upward movement, the following slide should be the last (of this pattern, what happens then depends on the larger scale. But I assume we won't drop further down, for now).

[bitleif]

Also known as idiot waves?

See bottom left part of chart

Missed that part

[jc328]

Just curious as to why you feel it is going to fall?  Thanks!

[Trading]

Elliott Waves are just too complex and subjective. Technical analysis is all about convincing people to buy and sell at given moments: there is no future to predict, only human decisions of traders. Make it complex and traders won't understand it, therefore won't follow it. Technical analysis should be simple: trends and support/resistance lines plus some technical patterns.

[cerebellum]

Elliott waves are not about convincing all the traders, they are trying to predict the whole crowd psychology. Whether they are effective or not is another discussion, though

[Trading]

I don't buy the "order of things" theory, like Finobacci, etc. Technical analysis can be effective because traders with big pockets understand it and believe it will be effective.

[XXthetimeisnowXX]

Just curious as to why you feel it is going to fall?  Thanks!

patterns....and i have seen this movie before. but i called it     it went down farther than i thought it would though. haha.


prob go to just above 100 and bounce up big. like to 150 again.

sr IS hurting bitcoins. make no mistake

[cerebellum]

well this is getting interesting, 106 low so far
definitely further down than anticipated, but all in one continuous movement. I'm with thetimeisnow on this one, hit 100 support and bounce back up. then wild swings for a while.

[kbf]

That was a pretty good prediction