UP OR DOWN? That is the question?

[Bobsurplus]

In the next week/month or so where are we going?

Up or Down?

We hit 1250ish, then dropped to 450 ish, then back up to almost 1100 and now were falling below 970.

Whats the deal? Are we finding a new bottom, testing the waters, or just waiting for the next huge sell off

[1714052711]

1714052711

[1714052711]

1714052711

[segeln]

In the next week/month or so where are we going?
Up or Down?
We hit 1250ish, then dropped to 450 ish, then back up to almost 1100 and now were falling below 970.
Whats the deal? Are we finding a new bottom, testing the waters, or just waiting for the next huge sell off

BTC is still going strong.
Just a rest to gain new strength

[Bobsurplus]

In the next week/month or so where are we going?
Up or Down?
We hit 1250ish, then dropped to 450 ish, then back up to almost 1100 and now were falling below 970.
Whats the deal? Are we finding a new bottom, testing the waters, or just waiting for the next huge sell off

BTC is still going strong.
Just a rest to gain new strength

Well I sure hope so!

[raskolnikovx]

In the next week/month or so where are we going?

Up or Down?

We hit 1250ish, then dropped to 450 ish, then back up to almost 1100 and now were falling below 970.

Whats the deal? Are we finding a new bottom, testing the waters, or just waiting for the next huge sell off

We are going up but will experience some up/downs due to whales manipulation.
The global trend is UP, though.

[JMAHH]

Reversal. Slow downtrend.

[cbeast]

Magic 8-Ball says "It is Certain." 

[JimboToronto]

Over-reaction to news from China, riding on tail of correction from excessive weekend rally.

No long-term trend.

IMHO

[Bobsurplus]

Magic 8-Ball says "It is Certain." 

+1   

[EvilPanda]

We are going up. Don't ever watch short term btc charts unless you are a day trader. Open a chart to see at least 2 months and you'll see what I'm talking about,

[JimboToronto]

We are going up. Don't ever watch short term btc charts unless you are a day trader. Open a chart to see at least 2 months and you'll see what I'm talking about,

I prefer the all-time log chart. It is my pillar of strength during times of uncertainty.

[segeln]

I prefer the all-time log chart. It is my pillar of strength during times of uncertainty.

This one ?
http://img.godmode-trader.de/charts/46/2013/11/d1170bitcoin2-18.png

[N12]

We are going up. Don't ever watch short term btc charts unless you are a day trader. Open a chart to see at least 2 months and you'll see what I'm talking about,

I prefer the all-time log chart. It is my pillar of strength during times of uncertainty.

That's interesting. Would you, at the time, have also drawn strength out of the following alltime log chart?

[pbody]

We are going up. Don't ever watch short term btc charts unless you are a day trader. Open a chart to see at least 2 months and you'll see what I'm talking about,

Looking at the day chart, I would say we are going down still. Its still closing below the last two previous highs. It will have to pass 1200 for there to be a confirmed uptrend. Look at the old bubble and you will see it always bounces back up slightly lower than the extreme high before going on a steady downward slope, eventually bottoming out, and then skyrocketing to mars. It could be months/ year before the latter happens.

[disclaimer201]

Panic selling from latest chinese "news" that mining hardware was banned from the chinese ebay.

[scarface]

you guys about to get dumped on by the chinese final warning to get out of btc

[chesthing]

The only thing you can count on with btc price is up AND down. You gotta have a lot of money or balls of steel to have bought at last weekend price. It's heading down steadily again, and it could go easily below $500 in next few days so watch close. I'm still looking for $300-$400 buy in then hodl, I have full confidence it's only a matter of time.

[EvilPanda]

We are going up. Don't ever watch short term btc charts unless you are a day trader. Open a chart to see at least 2 months and you'll see what I'm talking about,

Looking at the day chart, I would say we are going down still. Its still closing below the last two previous highs. It will have to pass 1200 for there to be a confirmed uptrend. Look at the old bubble and you will see it always bounces back up slightly lower than the extreme high before going on a steady downward slope, eventually bottoming out, and then skyrocketing to mars. It could be months/ year before the latter happens.

Btc is so volatile that looking at day charts is a waste of time unless, as I said before, you're looking to profit from volatility. The price is rising whether you look at it monthly or yearly. 2 months ago, before the bubble, the price was $200, If it gets close to that I will agree BTC lost 2 months of steady gain. I'm quite sure it won't go below 300 which means BTC gained at least $100 in 2 months.

you guys about to get dumped on by the chinese final warning to get out of btc

Even if they dump all (which is unlikely) we won't go back more than 2 months in price. Don't miss the opportunity.

[KARHU]

Down.

You do not worship the Bull without paying me your dues.

[alivecrypto]

Day traders feel like price is declining but sctuslly price is in inclined.  2013 was good year overall and 2014 will be better so no worries,

[JimboToronto]

We are going up. Don't ever watch short term btc charts unless you are a day trader. Open a chart to see at least 2 months and you'll see what I'm talking about,

I prefer the all-time log chart. It is my pillar of strength during times of uncertainty.

That's interesting. Would you, at the time, have also drawn strength out of the following alltime log chart?

Probably, although it's hard to say objectively because I didn't learn about Bitcoin until about a year ago. .

Unless I'd thought that Bitcoin was failing, the crash from the Jun 2011 would have seemed no further off the mean than its peak was and would indicate an eventual return, as exponential growth is inherent with Bitcoin until adoption tapers off.