..

[Newbie1022]

It's stupid. But you might win the bet. $525 is the resistance point we need to clear before we are out of trouble.

There are no "resistance" or "support" lines.

Only morons on message boards citing arbitrary numbers as such.

Operation dumbo drop... where were we yesterday when the cascade began? $525... where did we destabilize? $495. We have to cross one of those lines and then either big pump or big dump. Next resistance point after that is $473. Is this too complicated for you? Obviously you don't understand fib lines or why the dump yesterday stopped where it did.

It is like you enjoy losing money or something. Why in God's green earth would anybody take any advice from somebody who so obviously doesn't understand trading or mathematics.

P.S. -- A lot of technical analysis is hogwash, but during big price fluctuations it is utterly critical because this is what the bots are operating off of.

[btcracer1]

There's some great news coming, look at the bitcoin discussion forum: "EBay Payments Unit in Talks to Accept Bitcoin".

[Argwai96]

It's stupid. But you might win the bet. $525 is the resistance point we need to clear before we are out of trouble.

There are no "resistance" or "support" lines.

Only morons on message boards citing arbitrary numbers as such.

That's absurd. S/R is just where traders got in/out of position. So when the price trends, pivots and moving averages tend to act as support/resistance since this is where traders out of position need to buy/sell to break even.

If the price topped ~680s, you think there's no one waiting to get out at that level? After bagholding? THAT is called "resistance."

[Newbie1022]

It's stupid. But you might win the bet. $525 is the resistance point we need to clear before we are out of trouble.

There are no "resistance" or "support" lines.

Only morons on message boards citing arbitrary numbers as such.

That's absurd. S/R is just where traders got in/out of position. So when the price trends, pivots and moving averages tend to act as support/resistance since this is where traders out of position need to buy/sell to break even.

If the price topped ~680s, you think there's no one waiting to get out at that level? After bagholding? THAT is called "resistance."

And is usually calculated within a couple dollars by bots. That why you use the S/R points. You wouldn't bother if everyone was trading by hand... but they aren't.

[Buo]

There's some great news coming, look at the bitcoin discussion forum: "EBay Payments Unit in Talks to Accept Bitcoin".

It's not eBay directly...it's BrainTree, a subsidiary.

It's definitely a start though.

Nice, I missed this news.
If it will be confirmed maybe it can stop the downtrend, or at least limit it a little.

[Benjig]

It's stupid. But you might win the bet. $525 is the resistance point we need to clear before we are out of trouble.

There are no "resistance" or "support" lines.

Only morons on message boards citing arbitrary numbers as such.

That's absurd. S/R is just where traders got in/out of position. So when the price trends, pivots and moving averages tend to act as support/resistance since this is where traders out of position need to buy/sell to break even.

If the price topped ~680s, you think there's no one waiting to get out at that level? After bagholding? THAT is called "resistance."

And is usually calculated within a couple dollars by bots. That why you use the S/R points. You wouldn't bother if everyone was trading by hand... but they aren't.

Yeah is is basis in daily trading.. if you are buying in the middle of a rally and then the price stagnates in some level when there are many sell orders and after a period of time it can pass that zone, that would be the resistance and the price will go backwards for if it cant go broken.

[kerafym]

There's some great news coming, look at the bitcoin discussion forum: "EBay Payments Unit in Talks to Accept Bitcoin".

It's not eBay directly...it's BrainTree, a subsidiary.

It's definitely a start though.

Nice, I missed this news.
If it will be confirmed maybe it can stop the downtrend, or at least limit it a little.

The news might slow the downtrend but not completely negate the fundamental weakness from TA.

[zedicus]

It's stupid. But you might win the bet. $525 is the resistance point we need to clear before we are out of trouble.

There are no "resistance" or "support" lines.

Only morons on message boards citing arbitrary numbers as such.

Markets do somewhat have resistance and support levels however trade in bitcoin is generally too new to truly have these kinds of levels and the numbers that are quoted on these forums are generally pulled out of thin air and do not have any real data behind them.

[FattyMcButterpants]

It's stupid. But you might win the bet. $525 is the resistance point we need to clear before we are out of trouble.

There are no "resistance" or "support" lines.

Only morons on message boards citing arbitrary numbers as such.

Markets do somewhat have resistance and support levels however trade in bitcoin is generally too new to truly have these kinds of levels and the numbers that are quoted on these forums are generally pulled out of thin air and do not have any real data behind them.

the quality of the data and backtesting would depend on the time frame you are looking at. even on a daily chart, i think 3-4 years of data would be enough to establish reliable support and resistance levels. certainly on lower time frames.

do you have any statistical basis for this?

[johnyj]

Since Satoshi said that bitcoin is all-or-nothing, I have purchase order every $30 apart all the way down to zero, this is an old trick from foreign currency trading, in this way I don't bother where the price is going, just buy when it drops until I get the best fill, and sell a bit when it rise back to get more reserve fiat for the next dive

Because the technical shift to ASIC is almost finished, I don't see big price change in coming months, maybe until the next reward halving

[Ayers]

No way, nice pick up.  There seems to be a lot of buying support around 500.  You should be smiling!

still to premature to smile, i hope he is in for the long run, and waiting the fatidical "$1k" to sell

[falllling]

everyone should listen to me, do not buy bitcoin! bitcoin is going to nowhere but down!

sell and cut loose now! those who ask you to buy "cheap" coins since $1200 are ponzi scheme scammers

[Mellnik]

Going to buy in for a couple of thousands the coming days as soon as my bank's ready 

[Ayers]

everyone should listen to me, do not buy bitcoin! bitcoin is going to nowhere but down!

sell and cut loose now! those who ask you to buy "cheap" coins since $1200 are ponzi scheme scammers

what if you want to buy cheap? you are a big investor in disguise or something, and waiting for the right price to clear the sells wall

[iluvbitcoins]

everyone should listen to me, do not buy bitcoin! bitcoin is going to nowhere but down!

sell and cut loose now! those who ask you to buy "cheap" coins since $1200 are ponzi scheme scammers

what if you want to buy chip? you are a big investor in disguise or something, and waiting for the right price to clear the sells wall

I can't believe there's so much fud for only a 100$ fall 

[OptimusPrime7]

everyone should listen to me, do not buy bitcoin! bitcoin is going to nowhere but down!

sell and cut loose now! those who ask you to buy "cheap" coins since $1200 are ponzi scheme scammers

what if you want to buy chip? you are a big investor in disguise or something, and waiting for the right price to clear the sells wall

I can't believe there's so much fud for only a 100$ fall 

100$ drop is a lot and it only take few days, who know if it would continue to drop from that point.

[Newbie1022]

Well, I ended up buying in at $498 on BTC-e sending them over to Bitfinex and levering up from there once we cleared 505 (22 BTCs). Simply wasn't ballsy enough to try it in the middle of a rout. Feeling pretty ok, now, though. We at least have a solid approximation of a bottom so time to make some money.

[Ayers]

everyone should listen to me, do not buy bitcoin! bitcoin is going to nowhere but down!

sell and cut loose now! those who ask you to buy "cheap" coins since $1200 are ponzi scheme scammers

what if you want to buy chip? you are a big investor in disguise or something, and waiting for the right price to clear the sells wall

I can't believe there's so much fud for only a 100$ fall  

100$ drop is a lot and it only take few days, who know if it would continue to drop from that point.

there will be a point where investors will start buy like crazies again, just a mental thing i guess, i think we are near that point

[Newbie1022]

everyone should listen to me, do not buy bitcoin! bitcoin is going to nowhere but down!

sell and cut loose now! those who ask you to buy "cheap" coins since $1200 are ponzi scheme scammers

what if you want to buy chip? you are a big investor in disguise or something, and waiting for the right price to clear the sells wall

I can't believe there's so much fud for only a 100$ fall  

100$ drop is a lot and it only take few days, who know if it would continue to drop from that point.

there will be a point where investors will start buy like crazies again, just a mental thing i guess, i think we are near that point

Yep... people are literally sleeping on this rally. When they wake up... boy oh boy!!!

[fusioncoins]

You can sell it and enjoy profit