Downtrend started?

[dnaleor]

Is this a downtrend or just a correction?

Personally, I believe we will see this downtrend in the next weeks, until we reach the 500 USD levels.

If we compare the china-bubble to the april-bubble, we see some similarities:
After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trend down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

Thoughts?

[1714861740]

1714861740

[1714861740]

1714861740

[1714861740]

1714861740

[1714861740]

1714861740

[humanitee]

Is this a downtrend or just a correction?

Personally, I believe we will see this downtrend in the next weeks, until we reach the 500 USD levels.

Thoughts?

Ah yes, the ole speculation without explanation ploy. OP, I see what you are up to.

[JimboToronto]

 

[dnaleor]

If we compare the china-bubble to the april bubble, we see some similarities:

After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trand down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

[pbody]

Is this a downtrend or just a correction?

Personally, I believe we will see this downtrend in the next weeks, until we reach the 500 USD levels.

Thoughts?

what are talking about? its been in a serious uptrend for 2 weeks.

[proudhon]

If we compare the china-bubble to the april bubble, we see some similarities:

After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trand down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

Just judging by the technical analysis I see, and based on the data coming in from sources from China and such, we're definitely in a downtrend that will probably certainly last between 3 months and 18 months and will go at least as low as the last double channel triple shoulder top a few months ago, just following the trend lines from the 2-3 day moving average oscillator.  That means the price will likely go at least to $78, before rebounding to new ATHs in 2018.  There is black swan chance the price will follow the more dramatic downtrend indicated by the exponential channel and we could see prices retest $2.

[T.Stuart]

If we compare the china-bubble to the april bubble, we see some similarities:

After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trand down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

Just judging by the technical analysis I see, and based on the data coming in from sources from China and such, we're definitely in a downtrend that will probably certainly last between 3 months and 18 months and will go at least as low as the last double channel triple shoulder top a few months ago, just following the trend lines from the 2-3 day moving average oscillator.  That means the price will likely go at least to $78, before rebounding to new ATHs in 2018.  There is black swan chance the price will follow the more dramatic downtrend indicated by the exponential channel and we could see prices retest $2.

Ha ha ha!  You really brightened up my day!

[JimboToronto]

If we compare the china-bubble to the april bubble, we see some similarities:

After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trand down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

Just judging by the technical analysis I see, and based on the data coming in from sources from China and such, we're definitely in a downtrend that will probably certainly last between 3 months and 18 months and will go at least as low as the last double channel triple shoulder top a few months ago, just following the trend lines from the 2-3 day moving average oscillator.  That means the price will likely go at least to $78, before rebounding to new ATHs in 2018.  There is black swan chance the price will follow the more dramatic downtrend indicated by the exponential channel and we could see prices retest $2.

Ha ha ha!  You really brightened up my day!

 

[piramida]

we could see prices retest $2.

yep that's a certainty, and it would be retested from the bottom! because price corrected 1% after going 30% up.

[wobber]

If we compare the china-bubble to the april bubble, we see some similarities:

After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trand down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

April is so last year and 3 bubbles behind.

[TERA]

All I see here is that the price recently rose $250 way too fast and too little volume so it left the order books really thin. Then naturally the thin space in the order books is now being tested and the gap is being filled. So far all I see is a correction.

If it goes below 850 where that trend is then it might be a downtrend.

[humanitee]

If we compare the china-bubble to the april bubble, we see some similarities:

After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trand down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

Just judging by the technical analysis I see, and based on the data coming in from sources from China and such, we're definitely in a downtrend that will probably certainly last between 3 months and 18 months and will go at least as low as the last double channel triple shoulder top a few months ago, just following the trend lines from the 2-3 day moving average oscillator.  That means the price will likely go at least to $78, before rebounding to new ATHs in 2018.  There is black swan chance the price will follow the more dramatic downtrend indicated by the exponential channel and we could see prices retest $2.

 

As usual your TA is shit. It's actually a triple channel double shoulder top. You can lead a llama to water...

[skivrmt]

If we compare the china-bubble to the april bubble, we see some similarities:

After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trand down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

Just judging by the technical analysis I see, and based on the data coming in from sources from China and such, we're definitely in a downtrend that will probably certainly last between 3 months and 18 months and will go at least as low as the last double channel triple shoulder top a few months ago, just following the trend lines from the 2-3 day moving average oscillator.  That means the price will likely go at least to $78, before rebounding to new ATHs in 2018.  There is black swan chance the price will follow the more dramatic downtrend indicated by the exponential channel and we could see prices retest $2.

Solid analysis.  I mean how can anyone say there is anything remotely wrong with this? 

Back to the original poster, are we even -in- a downtrend?!

[mistress_magpie]

Just looked, my bitcoins are up, I don't know about yours Not sure what downtrend you're talking about.

[JimboToronto]

It's actually a triple channel double shoulder top.

You mean like this?



Or is that just a plain old triple top?

[TERA]

The trend over the past month and a half has been a 'circular' trend. I'll call out "the wheel of fortune".

[humanitee]

It's actually a triple channel double shoulder top.

You mean like this?



Or is that just a plain old triple top?

Yep. Experts (me) refer to it as the "total recall formation." Haven't seen it since 1990.

[T.Stuart]

D...d...d.... downtrend??

Oh... ho ... HO HO...  HO HO HO HO!!!!

 
 
 
 

[traderCJ]

Downtrend?  FFS were you asleep this weekend?

[dnaleor]

Downtrend?  FFS were you asleep this weekend?

no, but I sold some today. Think the downtrend is starting.