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Author Topic: Bitcoin market trend analysis- so far the most reliable through 2-month test  (Read 3719 times)
796
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July 04, 2013, 07:19:17 AM
 #21

Bitcoin price outlook: (updated at 13:19pm, GMT+8)

After the whole morning’s sell into correction, short strength consumes itself to some extent and gets temporary support after double dip at 75 dollars. Single short term buying at near $75 may wait to sell at around $85. As for the present low 75.12 $ still needs to be looked into before we say it is the lowest level. The breakout below $75 is preferable for buy in batches. No much risk for short term. We don’t advise to cut positions when it is below $80.

Thanks!
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796
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July 04, 2013, 07:20:37 AM
 #22

As promised, today's update (GMT+8)
(since we are not native speaker of English, there might be inaccurate words. we will try to be better.)


In two consecutive days, I forecast that the price drops around $15

Do you mean a $!5 price drop or a drop to $15/BTC

a $15 price drop
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July 05, 2013, 03:03:02 AM
 #23

Hi everybody,

today's update (GMT+8)

Bitcoin price has continue to slump in the recent few days. From the trend chart, although it touched 72$ yesterday, there’s no obvious big trading. Thus, we can’t be so sure that 72$ is the lows in these days. We may wait and see.

According to Bitcoin trend chart, the trend should be like this : it is hard to drop in a short term; there should be a period of slow rise which may get to $85-$87; then there will be another bottom process; after that, it will go upward; and then we can predict whether it’s fall in a relay or the beginning of a new wave of rise depending on the long and short strength. We can check the market trend and always remember: sell short if it is supposed to rise but doesn’t; buy long if it is supposed to go down but doesn't do so.

Thanks!
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July 05, 2013, 04:47:29 AM
 #24

good info. cheers

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July 05, 2013, 04:49:36 AM
 #25

I always learn something when I read these! Thank you for posting them Smiley

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July 05, 2013, 05:12:28 AM
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Following.
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July 05, 2013, 08:26:11 AM
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good info. cheers

thanks a lot!
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July 05, 2013, 08:27:01 AM
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Following.

 Smiley
796
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July 05, 2013, 08:28:13 AM
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I always learn something when I read these! Thank you for posting them Smiley

thanks for your support. much appreciated.  Grin
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July 05, 2013, 08:29:50 AM
 #30

Hi everybody,


In the previous post I mentioned that there was no obvious big trading following yesterday’s slump. We can see the previous several bottom features from the chart, in which all accompanying with substantially increased volume and slump. Thus, we still need to observe to decide whether 72$ is the lows in the near future. Since there is no sign of much rise or arbitrage, I had transferred the last Bitcoins worth tens of thousands from MTGOX to BTTC and then sold them all this morning. (Time: GMT+8)


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July 05, 2013, 10:27:07 AM
 #31

From Bitcoin trend chart, we will see that the price goes up slowly but down abruptly in earlier period while it’s been down steadily in the recent month. No matter what brings the circumstances, investors are under great pressure. There’s an obvious sign of speculative funds outflow. When it dropped to 72$ yesterday and bounces appeared, there should be uptrend resistance after correction at 80$. However, no rise shows when it’s supposed so and long strength can’t gather.
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July 05, 2013, 10:34:13 AM
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So it will fall again?

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July 07, 2013, 05:10:59 AM
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796, would you be open to start posting twitter updates?  It would be great to get these updates instantly to my phone.  If you are not willing to I may start doing so.
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July 08, 2013, 04:37:08 AM
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796, would you be open to start posting twitter updates?  It would be great to get these updates instantly to my phone.  If you are not willing to I may start doing so.

yeah, we are going to post it on twitter.
thanks.
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July 08, 2013, 04:38:43 AM
 #35

today's update: (GMT+8)

We see over drop bounces after long power temporarily disappeared. Upward resistance area is around 80$. From the 4-hour chart, long strength temporarily fails after continuous drop recently. A wave of bounce comes out after standing at the short term average price line. Subsequent correction should be 70$-80$. We may decide buy or sell after testing the long and short strength. We would advise short sell when approaching 85$ for short term.

Thanks.
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July 08, 2013, 07:27:02 AM
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796, would you be open to start posting twitter updates?  It would be great to get these updates instantly to my phone.  If you are not willing to I may start doing so.

yeah, we are going to post it on twitter.
thanks.

what is your twitter?
796
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July 09, 2013, 01:51:15 AM
 #37

796, would you be open to start posting twitter updates?  It would be great to get these updates instantly to my phone.  If you are not willing to I may start doing so.

yeah, we are going to post it on twitter.
thanks.

what is your twitter?

Hi there,
it's 796 Xchange Tongue
796
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July 09, 2013, 01:51:48 AM
 #38

Today’s similar to yesterday’s update. (GMT+8)

The correction shall be area $70-$80. We may decide buy or sell after testing long/short strength. We would advise short the market around $85 for short term. What worth mentioning here is that there’s no enough space within area $70-$80. We would not give advice if there’s no more than 10$ volatility space. However, the space for short sell will be relatively large if the price unexpectedly rises to around 85$.

Thanks!
796
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July 10, 2013, 01:59:44 AM
 #39

today's update: (GMT+8)

From the chart we may see fix trend continues after slump. We predict regular correction at relatively low area and wait for new long/short strength cohesion. On the short term, correction shows strong from 4-hour chart and there’s chance for upward resistance test, but the whole space won’t be too much. We may short sell around 85$ in batches and buy long around 70$ in batches.

Thanks!
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July 11, 2013, 01:57:40 AM
 #40

Today's update: (GMT+8)

A strong rally appeared this morning. The correction was strong yesterday evening and the price got recovered promptly and the correction stayed in the higher area after slump. For short term, there will be correction at around 85$. We would advise sell at over 90$ in batches if you want short sell.

Thanks!
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