$20-ish correction soon, then climb continues - page 2.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: Xer0 on October 19, 2013, 10:54:56 AM

just wanted to start a thread about this

it will be a good buy opportunity!

Yup.

The thing I can't figure out though, is whether Gox is more likely to bounce off, bringing Bitstamp with it, or will gox climb to about $220, while bitstamp hits $200, and then the Bitstamp, having the wedge, falls, bringing Gox with it, and then Gox's $200 proceeds to act as a support, actually ending the $20 slide.

If its the latter, this is still a fairly good buying opportunity (right now.) If its the former, you'll likely be able to buy at $150-$160 again in the near future on Bitstamp, so no need to get too worried.

Xer0

hero member

Activity: 826

Merit: 1000

°^°

just wanted to start a thread about this

it will be a good buy opportunity!

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Just a prediction. I'm not sure exactly when timeline-wise the $20-ish correction downwards will come, but it'll happen around when we hit about $200. This will be triggered by two forms of short-term speculation:

(1): Miners, who have been mining at a loss for a while, will have reached a point at which they can actually take some USD profit. While obviously many miners will be in it for the long-haul, or just want BTC, a fair amount I suspect will sell at levels about $200/coin.

(2): A huge sell wall is likely to build at about $200, due to the top reason and just the psychological barrier, which is likely to intimidate bulls in the short-term. When we stall out, we'll likely get a bearish wedge formation that will break downwards, only to just continue back up once everybody realizes that nothing is actually happening.

(3): Obviously people who bought around $200 last bubble will jump on this to sell. Another such point will be obviously at $266.

Just my thoughts.

Topic: $20-ish correction soon, then climb continues - page 2. (Read 5335 times)