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Author Topic: Yup, still feeling bearish.  (Read 8812 times)
mp420
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April 20, 2013, 04:56:18 AM
 #121

If the price bottoms above the June 2011 high, it is a very bullish signal.

In June 2011, after the peak, many (maybe even most) people thought the trend change was just a temporary glitch in the rally and we'd soon be above the previous high. I'm seeing a similar pattern now. The optimism only started to wane when the price dropped below $10.
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April 20, 2013, 09:52:52 AM
 #122

Fast forward a few months, "bubble 2.0" may just look like a large correction to the consistent underlying bullish trend for the past year.

Yeah. I was surprised to see a weekly negative  Shocked It really took a second leg down, something which I didn't anticipate.  Shocked That we are currently behind a whole 19 days of gains, boggles me.  Shocked

To score a monthly negative, we would need to close below $95 in the end of this month. That would be a possible hint that a bear market (or even a correction/consolidation period) has indeed commenced.

$95 in 10 days. Not impossible, but a rather slim chance. I'd give 25-30% for that happening.

If not, then good bye with your bear market, suckers you uninformed Smiley You'll have plenty of time to wise up, buy back, and still become filthy rich. The Bitcoin Bull is not going to the moon overnight, but it will certainly dilute you out of the bulk of your holdings if you try to trade it meanwhile with inappropriate information.

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