So far my predictions have been accurate.

[Minsc]

Holy crap it starts collapsing!

Sell your Bitcoins ASAP.

I bought hardly anything, about 5% of my available money.  If it collapses to cheap then it's like sacrificing a pawn in chess.

[1714139065]

1714139065

[NamelessOne]

Holy crap it starts collapsing!

That is actually quite amazing how someone (The Manipulator or a weakling) dropped 2500BTC minutes after you bought. The Manipulator is watching you.

[Minsc]

Holy crap it starts collapsing!

That is actually quite amazing how someone (The Manipulator or a weakling) dropped 2500BTC minutes after you bought. The Manipulator is watching you.

This isn't that bad.  It may actually go back up.  I've actually not had every trade I make as a loss.  It's just I've had many incidences where it will drop several dollars seconds after I go all in and buy everything.

[NamelessOne]

Holy crap it starts collapsing!

That is actually quite amazing how someone (The Manipulator or a weakling) dropped 2500BTC minutes after you bought. The Manipulator is watching you.

This isn't that bad.  It may actually go back up.  I've actually not had every trade I make as a loss.  It's just I've had many incidences where it will drop several dollars seconds after I go all in and buy everything.

I agree, I think it will go back up too, it is just annoying set back. The market seems happy with 6 range at the moment, with a subtle climb happening. I'm glad things haven't actually been that bad for you. The same has happened to me previously so I understand the pain.

[Minsc]

Well I also bought 13 coins around $5.99 and sold them at $6.10.

[NamelessOne]

Excellent! 

[cbeast]

So now it's down to under 5 USD. It's the end of the month and the gubbermint check hasn't come yet. I think we've hit bottom. Live or die, bitcoin. Let's see if you have another rally in you.

[Gerken]

So now it's down to under 5 USD. It's the end of the month and the gubbermint check hasn't come yet. I think we've hit bottom. Live or die, bitcoin. Let's see if you have another rally in you.

What makes you think this is the bottom?  People have been saying that for a while but it keeps dropping.   

[fivebells]

A plausible argument can be made for "support" at this level, based on the fact that it has bounced from here twice now.  Pretty thin evidence, though, and completely retrospective.  I have no idea what the basis for those bounces was, and whether it still applies now.

[Gerken]

A plausible argument can be made for "support" at this level, based on the fact that it has bounced from here twice now.  Pretty thin evidence, though, and completely retrospective.  I have no idea what the basis for those bounces was, and whether it still applies now.

You're right about that, it's odd it's been at this level with no major activity so far though.  I think the stagnation is scaring off the investors, they are afraid there won't be an up in a short period of time in which to sell into, and the midterm beyond that is uncertain at this point. 

[grod]

A plausible argument can be made for "support" at this level, based on the fact that it has bounced from here twice now.  Pretty thin evidence, though, and completely retrospective.  I have no idea what the basis for those bounces was, and whether it still applies now.

You're right about that, it's odd it's been at this level with no major activity so far though.  I think the stagnation is scaring off the investors, they are afraid there won't be an up in a short period of time in which to sell into, and the midterm beyond that is uncertain at this point. 

Triple bottoms are very rare.  Far more often you break through the support and try again lower.

[fivebells]

Triple bottoms are very rare.  Far more often you break through the support and try again lower.

This is interesting.  Where can I read about how this principle was established?

[ineededausername]

Triple bottoms are very rare.  Far more often you break through the support and try again lower.

This is interesting.  Where can I read about how this principle was established?

You can't; the reverse is recognized by some people:
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:triple_bottom_revers

[grod]

Yup, the rare triple bottom happens when buy side interest outweighs the sellers -- you have increasing volume as well as break through resistance.  In other words, if you really do have a reversal it's quite likely to be real and the start of a lengthy up trend.

What is far LESS rare in a down trending stock is failure to break out to the upside and instead breaking through support.  In which case that's simply an unconfirmed double bottom reversal pattern and you try again later.

You don't have to go far to see this in bitcoin.  Bring up the 6 month non-log chart.  You can easily see a double bottom with the first dip start of July, second dip mid July, third dip in August which was not confirmed by an upside breakout but instead by smashing of support.  Try to find triple bottom patterns on stocks you watch.  For every one you find I will easily find five unconfirmed double bottoms.

As proof I submit this is exactly why experienced technicians do not advise buying near support levels on an unconfirmed double bottom reversal.  It's risky until you know it's really *IS* a reversal pattern.   The same goes double for triple bottoms.

[Minsc]

I revised my theory.  Bitcoins just simply always does something bad.

Typically:
1) Stagnates.  Bad for investors.
2) Slowly drops.
3) Jumps a huge amount when you're not expecting it screwing over everyone who sold.  Then it sits there a long time before it crashes back down.
4) Drops and then when you wait for it to go back up, it sits there forever.
5) Rallies big but once it goes up 20 cents, then some a-hole sells 20K coins to force it back down

[S3052]

I agree. These times are great to wipe out the weak hands.

[David M]

Yup, the rare triple bottom happens when buy side interest outweighs the sellers

I'd rephrase that to "triple bottom happens when the sellers are exhausted*".

*Mentally (Screw it, the money is gone.. I'll hold the rest) , financially (no BTC left) and chronologically (They are tired of seeing a bear market)