$350 is VERY important... make it or break it level - page 2.

molecular

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Quote from: arbitrage001 on November 07, 2014, 11:16:43 AM

Quote from: fewcoins on October 24, 2014, 07:43:55 AM

This is a very important level... I'm sure we will either have a quick bounce up or another continued slow bleed down. I think we will test 400 again soon, what do you guys think?

This time, the resistance will break. I have seen this kind of pattern over and over.

Can you name the pattern and give a historical example?

arbitrage001

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Quote from: fewcoins on October 24, 2014, 07:43:55 AM

This is a very important level... I'm sure we will either have a quick bounce up or another continued slow bleed down. I think we will test 400 again soon, what do you guys think?

This time, the resistance will break. I have seen this kind of pattern over and over.

galdur

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Quote from: fewcoins on November 07, 2014, 10:20:36 AM

Quote from: galdur on November 07, 2014, 09:08:11 AM

Quote from: fewcoins on November 07, 2014, 08:57:54 AM

Quote from: galdur on November 07, 2014, 01:00:51 AM

Up 6% last 30 days.

I think it´ll try again for 400.

It looks terribly oversold.

The market IS terribly oversold and highly shorted... Once these shorters get squeezed it will show up as buy orders and price will rocket to the moon.
To the guy above who said $100 can be hit and we will still bounce back... You're insane! Breaking the 300 level sustainably, meaning staying around 250, will have HUGE consequences like much of the system shutting down... a lot of miners leaving... a lot of destroyed investors leaving... no new money... bad publicity... the government and/or banks will then have a chance to come in and execute bitcoin once and for all Cry

There´s just no volume! Think about it, today just Facebook stock will turn over like 3 billion dollars, 100X that of bitcoin. And Forex 5 Trillion. Obviously such thin trade and tepid volume is great for short sellers.

Also great for big buyers man... why do you only see one side of the picture??? If a few million get thrown into a bitcoin exchange prices would explode past $600 right now.

There are no big buyers, at least not enough to counter this persistent and grinding downward pressure we´ve seen. There is no volume. On the best days it´s maybe 50 million dollars which is chicken feed in financial markets. Today maybe half of that.

fewcoins

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Quote from: galdur on November 07, 2014, 09:08:11 AM

Quote from: fewcoins on November 07, 2014, 08:57:54 AM

Quote from: galdur on November 07, 2014, 01:00:51 AM

Up 6% last 30 days.

I think it´ll try again for 400.

It looks terribly oversold.

The market IS terribly oversold and highly shorted... Once these shorters get squeezed it will show up as buy orders and price will rocket to the moon.
To the guy above who said $100 can be hit and we will still bounce back... You're insane! Breaking the 300 level sustainably, meaning staying around 250, will have HUGE consequences like much of the system shutting down... a lot of miners leaving... a lot of destroyed investors leaving... no new money... bad publicity... the government and/or banks will then have a chance to come in and execute bitcoin once and for all Cry

There´s just no volume! Think about it, today just Facebook stock will turn over like 3 billion dollars, 100X that of bitcoin. And Forex 5 Trillion. Obviously such thin trade and tepid volume is great for short sellers.

Also great for big buyers man... why do you only see one side of the picture??? If a few million get thrown into a bitcoin exchange prices would explode past $600 right now.

galdur

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Quote from: fewcoins on November 07, 2014, 08:57:54 AM

Quote from: galdur on November 07, 2014, 01:00:51 AM

Up 6% last 30 days.

I think it´ll try again for 400.

It looks terribly oversold.

The market IS terribly oversold and highly shorted... Once these shorters get squeezed it will show up as buy orders and price will rocket to the moon.
To the guy above who said $100 can be hit and we will still bounce back... You're insane! Breaking the 300 level sustainably, meaning staying around 250, will have HUGE consequences like much of the system shutting down... a lot of miners leaving... a lot of destroyed investors leaving... no new money... bad publicity... the government and/or banks will then have a chance to come in and execute bitcoin once and for all Cry

There´s just no volume! Think about it, today just Facebook stock will turn over like 3 billion dollars, 100X that of bitcoin. And Forex 5 Trillion. Obviously such thin trade and tepid volume is great for short sellers.

fewcoins

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Activity: 126

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Quote from: galdur on November 07, 2014, 01:00:51 AM

Up 6% last 30 days.

I think it´ll try again for 400.

It looks terribly oversold.

The market IS terribly oversold and highly shorted... Once these shorters get squeezed it will show up as buy orders and price will rocket to the moon.
To the guy above who said $100 can be hit and we will still bounce back... You're insane! Breaking the 300 level sustainably, meaning staying around 250, will have HUGE consequences like much of the system shutting down... a lot of miners leaving... a lot of destroyed investors leaving... no new money... bad publicity... the government and/or banks will then have a chance to come in and execute bitcoin once and for all Cry

molecular

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Quote from: adaseb on November 07, 2014, 12:57:31 AM

Its hard to tell which support will hold or not. I would say the previous resistance at around $250 is very important and needs to hold.

I would say $266 better hold. If not: cheap coins indeed. At least noone can say we don't have capitulation then.

galdur

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Up 6% last 30 days.

I think it´ll try again for 400.

It looks terribly oversold.

adaseb

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Its hard to tell which support will hold or not. I would say the previous resistance at around $250 is very important and needs to hold.

molecular

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Quote from: fewcoins on November 06, 2014, 02:12:23 PM

Quote from: 1Referee on November 06, 2014, 05:57:55 AM

$50 steps are NOT important, doesn't matter if it is $750 $250 $850...

Most people only care about $100 steps, such as $400 $500 $600 levels.

That sounds really dumb, markets don't care about that... Resistance and support levels aren't built around round numbers just because they're said or typed easily! Point is 350 is so important!!! That's why we have touched 400 and we got near 300 but once again today we are right back at that 350 make it or break it level.

These are the facts. Around $350 is VERY important. This will either make or break bitcoin! Since last big drop was to 275 and this big drop we only got to 315, I see higher lows and I see these shorts about to get squeezed.

A higher low (at 315), yes. Looking good so far.

The harder part is the higher high: we'd need to break 415 for that.

There's tough resistance around 420.

But first, we need to get through this sucker:

I agree to an extent: 350 is quite the key level.

Not 'make or break', though (bitcoin would be able to come back from another touch of $100 imo: yes it would suck and it would be horrible and it would take a while, but it could come back (and I'd have way more coins)).

fewcoins

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Quote from: 1Referee on November 06, 2014, 05:57:55 AM

$50 steps are NOT important, doesn't matter if it is $750 $250 $850...

Most people only care about $100 steps, such as $400 $500 $600 levels.

That sounds really dumb, markets don't care about that... Resistance and support levels aren't built around round numbers just because they're said or typed easily! Point is 350 is so important!!! That's why we have touched 400 and we got near 300 but once again today we are right back at that 350 make it or break it level.

These are the facts. Around $350 is VERY important. This will either make or break bitcoin! Since last big drop was to 275 and this big drop we only got to 315, I see higher lows and I see these shorts about to get squeezed.

1Referee

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$50 steps are NOT important, doesn't matter if it is $750 $250 $850...

Most people only care about $100 steps, such as $400 $500 $600 levels.

Tstar

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Decentralized Asset Management Platform

i think it will test 400$ level for a week or two
bitcoin doesn't seems too bullish this year

NotLambchop

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Quote from: biggus dickus on November 05, 2014, 11:08:32 AM

Quote from: fewcoins on November 05, 2014, 10:58:07 AM

Quote from: canary on November 02, 2014, 03:10:26 PM

I'm waiting for testing $300 in 5-10 days.

Everybody is waiting for 'big' pump in November, what is the reason for this?

Yes because most/all shorts will be covered causing price to rocket to the moon! $300 has long passed.......

Yes, and ask says the 6th 3dMACD bar started GREEN today, which is a very positive indicator.

Just like it did on the 18th of October. Been pretty bullish Roll Eyes

manrus

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TTM

700+ in feb 2015 Wink

kashish948

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Quote from: fewcoins on October 24, 2014, 07:43:55 AM

This is a very important level... I'm sure we will either have a quick bounce up or another continued slow bleed down. I think we will test 400 again soon, what do you guys think?

And why do you think so?

biggus dickus

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Quote from: fewcoins on November 05, 2014, 10:58:07 AM

Quote from: canary on November 02, 2014, 03:10:26 PM

I'm waiting for testing $300 in 5-10 days.

Everybody is waiting for 'big' pump in November, what is the reason for this?

Yes because most/all shorts will be covered causing price to rocket to the moon! $300 has long passed.......

Yes, and ask says the 6th 3dMACD bar started GREEN today, which is a very positive indicator.

fewcoins

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Quote from: canary on November 02, 2014, 03:10:26 PM

I'm waiting for testing $300 in 5-10 days.

Everybody is waiting for 'big' pump in November, what is the reason for this?

Yes because most/all shorts will be covered causing price to rocket to the moon! $300 has long passed.......

canary

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I'm waiting for testing $300 in 5-10 days.

Everybody is waiting for 'big' pump in November, what is the reason for this?

sniveling

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Quote from: njcarlos on November 01, 2014, 05:20:40 PM

Quote from: Xian01 on November 01, 2014, 02:48:23 PM

re: Trading strategy, I have none. I've been a miner for a few years now. To that end, I'm not sure if I see myself continuing to run my farm come New Year. Will probably shut everything down and sell it off (the rigs, not the BTC)

I take it you're not running profitably at the moment then?

What price does bitcoin need to fall down to before you start shutting down? I heard various prices required to mine a bitcoin here. I guess if you already paid for your equipment it comes down to how much you pay for electricity.

Topic: $350 is VERY important... make it or break it level - page 2. (Read 6701 times)