Downtrend started?

[TERA]

Downtrend?  FFS were you asleep this weekend?

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

Were those your coins I got at 875 on stamp?

[1714873658]

1714873658

[1714873658]

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[MatTheCat]

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?

Maybe.

I bought in the previous day at at $830, went for a walk when it was at $950, came back and seen it was $880.

PANIC!! SELL!!...........DONE IT AGAIN DOH!!

Another $1000 worth of profit up in smoke due to me being an over impulsive skittish reactionary fkn clown. So there is a part of me that wants this to be a down-trend kicking in just so I don't feel like such a fuckwit.........certainly arepo has forecasted this possibility and since he came to my attention, he seems to have called things pretty well.

Looking at 15 min chart, obvious downtrend.....but looking at 4 hour chart, who knows?

I am 60% on us seeing a bit of down-time over the next few days. I certainly amn't buying, but I wouldn't be shorting either (if I even could).

[T.Stuart]

You know what? If all you shaky bears would just chill out a little more, then the new confidence seeping into the Bitcoin market would be complete and the long, long, long uptrend we are now going to see - at an average of around +20 per day for months now (with "little" spikes up and then down again to this trend and yes, of course perhaps some short-term bullshit if they execute Bitcoin in China) - would be even steeper!  

[segeln]

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

3 Weeks beginning 12/17/2013
and very stable

[T.Stuart]

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?

Maybe.

I bought in the previous day at at $830, went for a walk when it was at $950, came back and seen it was $880.

PANIC!! SELL!!...........DONE IT AGAIN DOH!!

Another $1000 worth of profit up in smoke due to me being an over impulsive skittish reactionary fkn clown. So there is a part of me that wants this to be a down-trend kicking in, certainly arepo has forecasted this possibility and since he came to my attention, he seems to have called things pretty well.

Looking at 15 min chart, obvious downtrend.....but looking at 4 hour chart, who knows?

I am 60% on us seeing a bit of down-time over the next few days. I certainly amn't buying, but I wouldn't be shorting either (if I even could).

MatTheCat I have said it before and I'll say it again. This is no place to be trusting an "expert"! No joke.

For the last two weeks Arepo has been saying that we are going to fall into capitulation. He clearly believed this uptrend was nothing more than part of a final leg down. He can stretch this out ad infinitum if he wants until it finally does come down even a little bit and then point and say "Look see. A bearish triangle!" or something like that. Come on man. Think for yourself.

EDIT: I'm not saying that Arepo isn't an intelligent guy. I'm saying that he seems always to be hedging things and never really admitting (to me anyway!) that he has made a mistake. He got kind of angry when I showed that I had taken on another TA analyst and won at said analyst's odds of 100:1. But despite what he says about respecting the profession and all that, sorry.. but the guy is a TA analyst with all kinds of pretty charts and terms... and he was completely wrong!

[dnaleor]

Downtrend?  FFS were you asleep this weekend?

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

Were those your coins I got at 875 on stamp?

no, sold >950 at stamp

[MatTheCat]

You know what? If all you shaky bears would just chill out a little more, then the new confidence seeping into the Bitcoin market would be complete and the long, long, long uptrend we are now going to see - at an average of around +20 per day for months now (with "little" spikes up and then down again to this trend and yes, of course perhaps some short-term bullshit if they execute Bitcoin in China) - would be even steeper!  

I happen to believe that we are in the eye of the storm right now.....

....opportunity to play and make merry, but if you are still out when the storm kicks in again........

This is just my belief, just as you have your beliefs although neither of us are qualified enough to say what is actually going to happen. From a mish-mash of our hopes, fears, reasoning, with just tiny smattering of logic, we build up our Bitcoin paradigms. Time will tell whose paradigm serves who the best. If I am wrong, then you make loadsa profit and I am left at the sidelines once again. If I am right, then I avoid losing heavily, perhaps picking up lots of cheap coins in process.

But returning to this China thing, we have seen a massive revival in Bitcoin where on all the major exchanges, it spiked just below a very significant resistance level, we are now trending down on the short term chart. When China wakes up in a few hours and they see that Bitcoin just failed to break through a major resistance level, with Bitcoin only having 3 more weeks to live in China, with gains and/or recovered losses in Bitcoin that many thought they would never see but with Bitcoin now trending down; what are they most likely gonna do?

btw....the spike up was Chinese lead, the correction was lead by western exchanges, especially Bitstamp.

[T.Stuart]

But returning to this China thing, we have seen a massive revival in Bitcoin where on all the major exchanges, it spiked just below a very significant resistance level, we are now trending down on the short term chart. When China wakes up in a few hours and they see that Bitcoin just failed to break through a major resistance level, with Bitcoin only having 3 more weeks to live in China, with gains and/or recovered losses in Bitcoin that many thought they would never see but now trending down; what are they most likely gonna do?

btw....the spike up was Chinese lead, the correction was lead by western exchanges, especially Bitstamp.

All I can say is that the Chinese love Bitcoin!    (Maybe too much!!  )

[traderCJ]

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

[MatTheCat]

Downtrend?  FFS were you asleep this weekend?

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

Were those your coins I got at 875 on stamp?

They might have been mine.

I impulse panic sold at $880! Funniest of all is that I had just 60 minutes earlier paid $931 for for 5 of them, the remaining 17 I paid £835 for.......

.......this is the second time I have cost myself dearly due to babysitting/checking charts at inopportune moments. In my defense, Bitcoin moves far too rapidly and schizophrenically.

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

Is it? Isn't it?

I dont fkn know. All I have got to go on is 2nd rate rumours and 3rd rate corporate media reports. But if it is true, then it is bad. It has to be bad. It can't possibly be anything other than bad.....if it were to be true.

[segeln]

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

Where do you see a downtrend?
https://www.tradingview.com/x/as4MshGB/

It is a stable and bullish up- trend now Lasting 3 weeks

[traderCJ]

Is it? Isn't it?

I dont fkn know. All I have got to go on is 2nd rate rumours and 3rd rate corporate media reports. But if it is true, then it is bad. It has to be bad. It can't possibly be anything other than bad.....if it were to be true.

Well honestly I don't know for sure either, but it sounds like worst case scenario the Chinese exchanges are shut down.  However, I don't think this will happen.  It will simply be much harder to get CNY in and out of exchanges.  In any event, it is wealthy Chinese investing in Bitcoin.  Not being able to liquidate through a domestic bank isn't a huge deal to them.  The world is a big place and it makes sense to own a chunk of something that could appreciate dramatically in the future.

[undeadbitcoiner]

Its not DOwntrednd
Its stablizing market, 100$ up and down is actually nothing in Bitcoin Market now, but as much as it swings and upwards slowly that will stablize for that point like 550$ and now 900$. Why we think if there is 2-3 Candle downwards then its downtrend.
I saw some thread about China,
Nothing is going to happen in China now, China's Volume are already picking Up in HongKong, If china will be closed then 796 will be the next world's largest exchange where chinese used to trade and if we all notice now That market is leading in Price and in volume with MtGox, Bitstamp, BTCe and BTC China. If China market will be closed then HongKong will get all the Volumes from Huobi and OKCoin which are the largest volume trader now so nothing to worry about it, Chinese people are themself worried for trading and investing in Bitcoin so they already started backup in HongKong.
Bitcoin will uptrend always be sure for that and believe in that.

Good Luck

[bassclef]

They might have been mine.

I impulse panic sold at $880! Funniest of all is that I had just 60 minutes earlier paid $931 for for 5 of them, the remaining 17 I paid £835 for.......

.......this is the second time I have cost myself dearly due to babysitting/checking charts at inopportune moments. In my defense, Bitcoin moves far too rapidly and schizophrenically.

Seriously, and I hope you don't take this the wrong way, but you need to stop trading.

[T.Stuart]

Is it? Isn't it?

I dont fkn know. All I have got to go on is 2nd rate rumours and 3rd rate corporate media reports. But if it is true, then it is bad. It has to be bad. It can't possibly be anything other than bad.....if it were to be true.

Well honestly I don't know for sure either, but it sounds like worst case scenario the Chinese exchanges are shut down.  However, I don't think this will happen.  It will simply be much harder to get CNY in and out of exchanges.  In any event, it is wealthy Chinese investing in Bitcoin.  Not being able to liquidate through a domestic bank isn't a huge deal to them.  The world is a big place and it makes sense to own a chunk of something that could appreciate dramatically in the future.

You know purely from a cold-hearted perspective sometimes I think it would be good for the Bitcoin market if the exchanges did just shut down totally - a clean break - as then there would be no more psychological drama. I really believe Bitcoin would go up super-steady (as opposed to just very steady  ) if this happened.

[proudhon]

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story.  With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops.  And don't rule out complete failure of bitcoin at the end of the coming long slow slide.  2014 will certainly be one of the worst years in bitcoin history.  If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

[crrafferty]

I really don't understand why all these people are panic selling let alone buying in during spikes. My basic game plan is buy low or exchange alt to btc then sell high. So I buy in at $xxx.xx price and then I set a target of $xxx.xx. Once I hit that target I sell. The key is to not be greedy and play smart. You can ALWAYS buy back in and ride the horse some more after picking a new target. Just my .02 cents of investing. So far it has worked out for me quite well. Just purchase a new 4K tv and EOS70D thanks to our BFF BTC. With all that being said I feel that BTC will hit a downward trend pretty soon. As some people have previously mentioned, once again it blew up way to fast. But on a positive note I have noticed that with each blow up they have slowed down a pretty good amount. Leading me to believe that after a few more times of this we will actually start to see steady growth between $800-1100.

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story.  With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops.  And don't rule out complete failure of bitcoin at the end of the coming long slow slide.  2014 will certainly be one of the worst years in bitcoin history.  If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

One of my biggest fears is the release of dedicated Scrypt ALT Coin miners (pretty sure I just botched the official name of these lol). If these actually come into fruition in the next few months, I could see them hurting the alt currency world.

[undeadbitcoiner]

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story.  With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops.  And don't rule out complete failure of bitcoin at the end of the coming long slow slide.  2014 will certainly be one of the worst years in bitcoin history.  If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

Are you gone Crazy?
Or you are just wake up from a Bad Dream?
What i Guarantee you is BTC is Never going to go back then $500 now.
If you have any Logic or you are just fucking telling you Dream?
Dont Dream that you could buy BTC again in Less then $500. China is something not everything Note that.

[traderCJ]

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story.  With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops.  And don't rule out complete failure of bitcoin at the end of the coming long slow slide.  2014 will certainly be one of the worst years in bitcoin history.  If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

Are you gone Crazy?
Or you are just wake up from a Bad Dream?
What i Guarantee you is BTC is Never going to go back then $500 now.
If you have any Logic or you are just fucking telling you Dream?
Dont Dream that you could buy BTC again in Less then $500. China is something not everything Note that.

Dude, he's joking around

[JimboToronto]

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story.  With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops.  And don't rule out complete failure of bitcoin at the end of the coming long slow slide.  2014 will certainly be one of the worst years in bitcoin history.  If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

Or the Chinese government could simply apply the Secret Satoshi Escape code, speed up the process, and steal everybody's coins, convert them to yuan, refuse to buy this spring's U.S. Treasury bonds (crashing the dollar), and take over the world, except for North Korea, which doesn't participate.