88 on Mt. Gox key level of support (Market Cap: $900 million)

[Wagner2014]

Watch out below if we don't bounce off 88.

Any idea where the next level of support is? Scary.

Edit: mods please move to speculation section. I meant to post this there. Thanks.

[1714871656]

1714871656

[Energizer]

It should bounce back closer to 200$ within days!

[Wagner2014]

^ how is the bot trading this?

[Wagner2014]

Fibonacci retrace has it back to $104 ish within the next 4-5 days.

And after that? Sure it may retrace part of the move down. We are beginning to see lower highs and lower lows.

[Dalib]

Fibonacci retrace has it back to $104 ish within the next 4-5 days.

And after that? Sure it may retrace part of the move down. We are beginning to see lower highs and lower lows.

I suppose something above $ 79 (minimum of 5 May), maybe around 82, and then 49 - 55 $...
And I hope we will not have to test support at about 32.5.

[BitChick]

It should bounce back closer to 200$ within days!

I love optimistic posts like this.    Of course, I tend to be an optimist too.

It does seem like 88 is the new low.  I was bummed to see it go down there again today though.  Hopefully we are on our way back up now. 

[Inedible]

I love optimistic posts like this.    Of course, I tend to be an optimist too.

It does seem like 88 is the new low.  I was bummed to see it go down there again today though.  Hopefully we are on our way back up now. 

I think we're on a long slow downtrend for a few more months yet.

[cp1]

I think we're on a long slow upwards trend for a few months.

[DeathAndTaxes]

I think we are on a long slow sideways trend for a few months.*


(* well actually I don't but now all 3 baseless predictions are covered)

[massivebitman]

You know what, I agree with everyone that the price has been going down.. The charts don't lie, do they.

The real question for me is, when is the price going to start going up.

It could be any time.

That's what really scares me.

88 could be the bottom, and then I decide to sell because it suddenly blips to 93...
Except it's not 93, it jumps to 97... Well that's too high right, too high to buy back.
Then for some reason it keeps going, 110, 115.
Prices that seem ludicrous and a massive loss to be taken if the price comes back to 88 as I was previously expecting it to..

The way I see it BTC isn't going away overnight (hopefully), and the upside is the most radical thing about BTC, not the downside.

Unless the exchanges shut down, with the new interest in BTC, I don't think we're ever going back below 50 so the question is how close can we get before another rally starts?

[Kazu]

In my opinion:

Bull Scenario: Bounces up to $100, bounces off and falls down to $90, and holds between $90-$100 level for a bit means that double-bottom is a thing.

Bear scenario: Holds above $86-ish for a day or less, meaning its likely going to fall to $57 and then (hopefully) bounce.

[viboracecata]

Fibonacci retrace has it back to $104 ish within the next 4-5 days.

then, how about normal distribution?

[Bitcoin BEAR]

You people must be outside yo damn minds! 

First off, $88 was broken today, which already makes you WRONG.

Second, There is no reason to believe it's going to turn around here. If it were, it would have bounced much higher already. Those little recoveries after a sell-off just don't happen anymore. There are now strong wave structures heading down, and they aren't going to be done soon.

Last, those who hold will lose at least 40% of their buying power by the end of this Bitcoin Bear market. Those who buy every twitch on the way down will lose buying power. You are only cheating yourselves with your delusions of "$200 within days" even weeks for that matter. We aren't at the bottom because there are still too many people who think it can't go lower. YOU WILL LOSE! 

[Kazu]

You people must be outside yo damn minds!  

First off, $88 was broken today, which already makes you WRONG.

Second, There is no reason to believe it's going to turn around here. If it were, it would have bounced much higher already. Those little recoveries after a sell-off just don't happen anymore. There are now strong wave structures heading down, and they aren't going to be done soon.

Last, those who hold will lose at least 40% of their buying power by the end of this Bitcoin Bear market. Those who buy every twitch on the way down will lose buying power. You are only cheating yourselves with your delusions of "$200 within days" even weeks for that matter. We aren't at the bottom because there are still too many people who think it can't go lower. YOU WILL LOSE!  

quote author=bitcoin BEAR etc...

[BitChick]

You people must be outside yo damn minds! 

First off, $88 was broken today, which already makes you WRONG.

Second, There is no reason to believe it's going to turn around here. If it were, it would have bounced much higher already. Those little recoveries after a sell-off just don't happen anymore. There are now strong wave structures heading down, and they aren't going to be done soon.

Last, those who hold will lose at least 40% of their buying power by the end of this Bitcoin Bear market. Those who buy every twitch on the way down will lose buying power. You are only cheating yourselves with your delusions of "$200 within days" even weeks for that matter. We aren't at the bottom because there are still too many people who think it can't go lower. YOU WILL LOSE! 

I think there are far more bears then bulls right now.  So there are too many people who think it is going to go lower and not go up.  In reality, it could just go either way. 

[Wagner2014]

The coins are no longer worth a billion.

Market Cap is now just over $900MM.

[zoinky]

Big money can wait. And they will wait.

[bitcon]

I hate feeling like a bear. I want to feel like a bull again, but I don't foresee that happening anytime soon.

[samson]

So it went to $86.01, the trendline is broken.

[Wagner2014]

Watch out below if we don't bounce off 88.

Any idea where the next level of support is? Scary.

So, I will re-ask my question now. Where is the next level of support? Somewhere in the 50s?