BTC drop to next level coming...bail the F out now!

[wachtwoord]

This thread delivered 

[TERA]

Damn. I thought "the lines have crossed" was legit TA. :p

[JimboToronto]

Must head to the F'ing office

You have my deepest sympathy.

Don't worry though. Some day you may break the shackles of employment and stand on your own two feet.

[thExit]

Damn. I thought "the lines have crossed" was legit TA. :p

It wasn't legit TA, it was legit CA (clairvoyance) Both are very similar in respect of given results...

[Melbustus]

...
Just for the record, Coindesk has published (on May 28, 2014 at 10:33 BST) an interesting article regarding the recent growth in BTC price, trying to determin the forces behind the move.

The search for specific drivers is kinda naive. My take is that this is a long-term thing. The longer bitcoin continues to simply exist, the more interesting it becomes as its own asset class (and/or as a partial replacement for PMs).

Obviously short term news plays a role, but after the Gox/China/overhype driven crash died down and bitcoin was stable for even just those few weeks, people just got back to the basic analysis of: "eh, if bitcoin survives, it's worth at least 10x current value. If it fails, 0. High risk, but a very +EV asymmetrical play."

[favelle75]

Hi Favelle,

When I was replying yesterday; I was looking at the 27th of March (Not 27th of April) mistakenly.

Sorry, my fault.

Regards
Heider

No worries man.

[thExit]

...
Just for the record, Coindesk has published (on May 28, 2014 at 10:33 BST) an interesting article regarding the recent growth in BTC price, trying to determin the forces behind the move.

The search for specific drivers is kinda naive. My take is that this is a long-term thing. The longer bitcoin continues to simply exist, the more interesting it becomes as its own asset class (and/or as a partial replacement for PMs).

Obviously short term news plays a role, but after the Gox/China/overhype driven crash died down and bitcoin was stable for even just those few weeks, people just got back to the basic analysis of: "eh, if bitcoin survives, it's worth at least 10x current value. If it fails, 0. High risk, but a very +EV asymmetrical play."

This is absolutely 100% in line with my reasoning, your every argument is spot on. Bitcoin isn't that new now (nor is it mature enough for my complete liking), the blockchain technology has numerous interesting implementations that are just starting to flourish, many of them being beta-tested, so it's not as worthless as a tulip bulb A crowd of experts from various domains of activity is backing it up, the society around altcoins is growing, we become inspiration to one another. Oldcomers guide the way, are at the frontier of development (of services etc.) newcomers are willing to invest (both time and money), not to miss the bus. Despite some doubtful news, I am in favour of positive PR for BTC. There are some problems we need to solve as a community, but the outcome, the reward, is well worth all the trouble. I only hope that govs and all the legislation will not harm altcoins. Thankfully we have groups of lobbyists put to work.

[BitchicksHusband]

Damn. I thought "the lines have crossed" was legit TA. :p

Only if you're trying to catch giant marshmallow ghosts...

[sgk]

YAWN

[DustyRah]

Boy, we have a nice looking trend after a long time...it's sure nice to see this did not turn into the late January saga.

[thExit]

Quite a nice run indeed. I was particularly impressed with the price action over the weekend, especially the fact that on Sunday the BTC reached a significant high just below the 670.00 level against the USD. I didn't take time to calculate proper statistics, but just by looking at the charts weekends tend to be little less volatile than weekdays, but Sundays seems to be more active than Saturdays. I wonder why:)

[maker88]

Quite a nice run indeed. I was particularly impressed with the price action over the weekend, especially the fact that on Sunday the BTC reached a significant high just below the 670.00 level against the USD. I didn't take time to calculate proper statistics, but just by looking at the charts weekends tend to be little less volatile than weekdays, but Sundays seems to be more active than Saturdays. I wonder why:)

it hit 683 actually. i expect it to be back next week.

[ShroomsKit]

I am a long term bear, but I must say that I feel a big drop coming.

This recent rally was a laugh, and I knew it would not be long before it would test the $300's lows.

Everything is ripe for a big drop. The rally failed and the big reason is volume has dried up as the price continues to fall.

People still do not realize that bitcoin has rose too fast and should not be priced at these levels especially without the Chinese not being able to use it to launder money.

My feeling is that we will be in the $200's shortly.

I see you've got it all figured out. Well done.

[maker88]

I am a long term bear, but I must say that I feel a big drop coming.

This recent rally was a laugh, and I knew it would not be long before it would test the $300's lows.

Everything is ripe for a big drop. The rally failed and the big reason is volume has dried up as the price continues to fall.

People still do not realize that bitcoin has rose too fast and should not be priced at these levels especially without the Chinese not being able to use it to launder money.

My feeling is that we will be in the $200's shortly.

I see you've got it all figured out. Well done.

LOL im glad you saw that test of the 300s coming! oh wait it never happened? imagine that...if we see 200s ill sell my cars for coins.

[mikerbiker6]

Price broke up out of trend, but it is always easy looking back. What is gonna happen next is unkown, you can not predict it.

This line could have been drawn before, but there are always a 100 more 'patterns' that one could find and that contradict this movement.
So no way, one could have know.

If you base your trades on the news, than you are out of luck too. When the news gets to you, you are already to late.

[Heider]

No one can predict this... yes you are absolutely right.

Not that whoever is pushing the price up or down on Bitcoin cares about what I am about to say; but I will say it anyway,

I don't know if this forum is being watched by these people, but this is the second occasion someone (including myself) says this is what's gonna happen, and then within 24 hours, it goes the complete opposite, I mean really opposite.

Yes, some might say, it could be no idea what talking about, or talking from the back-side etc. But, ...

Three days ago, and without mentioning people on this forum, with a private agreement between some certain members here, I have decided to post a statement that saying "Definitely going down, I'm buying at a $100 less etc"...

After being slow and steady for about a month taking slow inc/decrements before posting my above message, in all honesty; in my life.... I've never seen the following previously whatsoever:

1) The asking sum trend turning 90 Degrees down, and FAST, (I could not believe it)... 90 degrees, this was on 30/05/2014 10:00:00 asking sum was 17.5K BTC down to 12.8K BTC.

2) The Bidding sum trned went up 90 degrees in the same speed, same time, from 11.6Million USD, into 12.7m USD.

I've never seen this in my life before, and now truly think that whatever we predict on the forum here gone the opposite just at the time we predicted it, not sure if this is a coincidence, but I now believe that there is something there (Big brother is watching)...

Also, to mention, the more people putting more coins on a certain USD number generating more volume, then it would drive the price up or down.

So, I'm gonna save my egg face, and no longer "predict" here and agree with the rest that no one can predict this.

Regards
Heider

[DustyRah]

Price broke up out of trend, but it is always easy looking back. What is gonna happen next is unkown, you can not predict it.

This line could have been drawn before, but there are always a 100 more 'patterns' that one could find and that contradict this movement.
So no way, one could have know.

If you base your trades on the news, than you are out of luck too. When the news gets to you, you are already to late.

Its difficult to get a reliable idea based on a straight line as shown in your graph. I suggest getting into indicators using a combination of RSI, CCI, MACD, volume etc. That along with different time periods can give way better indication.

[mikerbiker6]

I am done making predictions.
I am not a gambler, I am an observer.

[DustyRah]

Boosters depleted...hopefully the regular engine will continue to take us north...

[ibankbitcoins]

Bull market, going up boys.