Kimba_Coinarch (OP)
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Activity: 57
Merit: 0
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February 10, 2015, 12:26:29 AM |
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Whilst the bitcoin market looks stable, traders desperately await a breakout. Since the beginning of February the price has been bouncing between 210 and 248, waiting for a near-perfect bearish breakout thanks to the absence of buying volume. At this time, we would like to take a look at other fundamental factors that could potentially affect the bitcoin value in the coming months, maybe years. Firstly, the United States has doubled its quantitative easing, indicating yet another financial meltdown in coming years. This is reassuring for long term bitcoin holders as investors will be looking for other options to hedge their funds. As speculators believe, the demand of bitcoin will hit high during the economic slowdown. The bitcoin price surged 87% post-Cyprus bailout. February 9th Bitcoin Trading Session BTC/USD opened at around 224 yesterday, continuing the prevailing sideways movement in the absence of enough trading volume. As the day moved ahead, the price began to stir a little towards the downside, probably due to shaky hands leaving the market. A sell-off occurred subsequently, dropping the price down to 215, right inside the oversold region, though above the 210 floor. The fall however failed to transform into a breakout, as price correction soon occurred and took price back inside the stable channels. At press time, the BTC/USD is valued around 220. What to Expect Today? As we review the chart, the technical indicators are once again inclined towards a bearish bias. The price is trading way below the 200-, 100- and 50-hour SMA while the RSI is stuck between the 43-47 area. The MACD blue curve is only a little below the normal line and has its head towards the south. We have drawn a red line, indicating the ultimate support point of the current bearish bias. If the price manages to break below this line, the pressure will once again fall on this year’s low of around 165. Once below, the price could tease even lower at the 100s. In the case where the bitcoin price manages to move upwards, there is a series of resistance levels waiting to send it back to the 210 support area. A near-term bull run is hoping to find intra-day resistance around 230, and then later at 248. Even though these levels have a lot of selling pressure, any possible break above them will extend the bullish correction towards the 275-300 area. Conclusion (On 1-D Charts) Current Mood: Strong Bearish Technical Indicators: Strong Sell (0 Buy 9 Sell 2 Neutral) Moving Averages: Strong Sell (0 Buy 12 Sell) https://www.coinarch.com/Info/Blog?Page=2015/02/daily-bitcoin-price-analysis-9th-february/ |
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afbitcoins
Legendary
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Activity: 2101
Merit: 1061
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February 10, 2015, 01:12:44 AM |
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There is a downtrend but I'm thinking more in terms of when to go long
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Morecoin Freeman
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February 10, 2015, 02:12:40 AM |
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You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
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Ask the stranger he knows who you really are.
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mtwelve
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Merit: 1009
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February 10, 2015, 02:30:19 AM |
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You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows... |
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dropt
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Activity: 1512
Merit: 1000
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February 10, 2015, 03:16:32 AM |
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You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows... What makes you say mid $100s? Why not low $100s? We won't know if we hit bottom for awhile, but a high volume fight at $160 and the recent stability despite numerous attempts at pushing down make shorting here a bad idea IMO. |
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mtwelve
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Activity: 1330
Merit: 1009
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February 10, 2015, 03:18:50 AM |
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You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows... What makes you say mid $100s? Why not low $100s? We won't know if we hit bottom for awhile, but a high volume fight at $160 and the recent stability despite numerous attempts at pushing down make shorting here a bad idea IMO. Well said. I only said mid $100s because once we approach under below triple digits there will be a panic buy up and fierce resistance downwards since, at least that's what I think. The long term trend is still downward and we are moving sideways currently so IMO shorting isn't too bad. |
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Chef Ramsay
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Activity: 1568
Merit: 1001
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February 10, 2015, 04:17:02 AM |
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You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows... What makes you say mid $100s? Why not low $100s? We won't know if we hit bottom for awhile, but a high volume fight at $160 and the recent stability despite numerous attempts at pushing down make shorting here a bad idea IMO. Well said. I only said mid $100s because once we approach under below triple digits there will be a panic buy up and fierce resistance downwards since, at least that's what I think. The long term trend is still downward and we are moving sideways currently so IMO shorting isn't too bad. I'd say the best market move to make at the moment is to short w/ some heavy leverage since so many people are thinking in this subforum that the 100s of any flavor are a possibility. Smart money is smart amirite? |
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Chef Ramsay
Legendary
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Activity: 1568
Merit: 1001
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February 10, 2015, 04:21:41 AM |
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You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows... What makes you say mid $100s? Why not low $100s? We won't know if we hit bottom for awhile, but a high volume fight at $160 and the recent stability despite numerous attempts at pushing down make shorting here a bad idea IMO. Well said. I only said mid $100s because once we approach under below triple digits there will be a panic buy up and fierce resistance downwards since, at least that's what I think. The long term trend is still downward and we are moving sideways currently so IMO shorting isn't too bad. I'd say the best market move to make at the moment is to short w/ some heavy leverage since so many people are thinking in this subforum that the 100s of any flavor are a possibility. Smart money is smart amirite?  |
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dropt
Legendary
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Activity: 1512
Merit: 1000
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February 10, 2015, 05:52:22 AM |
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I'd say the best market move to make at the moment is to short w/ some heavy leverage since so many people are thinking in this subforum that the 100s of any flavor are a possibility. Smart money is smart amirite?
20x on OKCoin ought to do it, and don't pussy foot around trying to scalp on a 1$ movement. COMMIT. |
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lexuz
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February 10, 2015, 06:13:19 AM |
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I think dumping price, maybe in one year still same and i see no hope for bitcoin  |
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damiano
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103 days, 21 hours and 10 minutes.
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February 10, 2015, 06:18:35 AM |
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Taking a short position now isnt the smartest decision.
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Muuurrrrica!
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Activity: 84
Merit: 10
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February 10, 2015, 08:18:27 AM |
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tell me how an inflationary currency is an alternative to an inflationary currency
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dropt
Legendary
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Activity: 1512
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February 10, 2015, 08:20:11 AM |
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tell me how an inflationary currency is an alternative to an inflationary currency
Tell me how half of America thinks homosexuality is a sin, yet sees no problem with gluttony. |
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Muuurrrrica!
Member
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Activity: 84
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February 10, 2015, 08:26:15 AM |
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tell me how an inflationary currency is an alternative to an inflationary currency
Tell me how half of America thinks homosexuality is a sin, yet sees no problem with gluttony.  R U OK , BRO? |
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Muuurrrrica!
Member
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Activity: 84
Merit: 10
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February 10, 2015, 08:27:31 AM |
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Taking a short position now isnt the smartest decision.
you said the same shit when it was at 600$ ---- yes, it's always time to short i just dumped my LTC in grace ... i'll buy back for 50 cents (maybe, if i'm still interested later) |
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fonzie
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February 10, 2015, 08:40:13 AM |
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Taking a short position now isnt the smartest decision.
you said the same shit when it was at 600$ ---- yes, it's always time to short i just dumped my LTC in grace ... i'll buy back for 50 cents (maybe, if i'm still interested later) DON´T.  |
"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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noma
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February 10, 2015, 09:01:44 AM |
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Taking a short position now isnt the smartest decision.
you said the same shit when it was at 600$ ---- yes, it's always time to short i just dumped my LTC in grace ... i'll buy back for 50 cents (maybe, if i'm still interested later) Tell me you did shirt at 152 ? And regret it now ? Bottom is never a good time to short. |
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Muuurrrrica!
Member
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Activity: 84
Merit: 10
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February 10, 2015, 09:09:10 AM |
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DON´T. Probably i do. Always need ammo to dump on the retards pumps 
Tell me you did shirt at 152 ? And regret it now ? Bottom is never a good time to short.
i did 'shirt' on 290$ and haven't bought back since and you are butthurt cuz you haven 'shirted' -------- Project all your asspain on me you broken bulltards, i enjoy it. lol |
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fonzie
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February 10, 2015, 09:36:23 AM |
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DON´T. Probably i do. Always need ammo to dump on the retards pumps
Tell me you did shirt at 152 ? And regret it now ? Bottom is never a good time to short.
i did 'shirt' on 290$ and haven't bought back since and you are butthurt cuz you haven 'shirted' -------- Project all your asspain on me you broken bulltards, i enjoy it. lol  |
"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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HarmonLi
Sr. Member
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Activity: 350
Merit: 250
Honest 80s business!
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February 10, 2015, 01:00:49 PM |
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Everyone keeps saying this is a definite bear market and the price can't do anything but continue to go down for the foreseeable future. But why hasn't it already then? There is an uncanny resilience in the market these days. I do expect another crash, but I think this may be the last one. The market isn't bled out or run dry at the moment, it's merely waiting for things to happen.
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