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Topic: 88 on Mt. Gox key level of support (Market Cap: $900 million) - page 2. (Read 2765 times)

hero member
Activity: 811
Merit: 1000
Web Developer
Big money can wait. And they will wait.
member
Activity: 84
Merit: 10
The coins are no longer worth a billion.

Market Cap is now just over $900MM.
legendary
Activity: 1148
Merit: 1001
You people must be outside yo damn minds!  Tongue

First off, $88 was broken today, which already makes you WRONG.

Second, There is no reason to believe it's going to turn around here. If it were, it would have bounced much higher already. Those little recoveries after a sell-off just don't happen anymore. There are now strong wave structures heading down, and they aren't going to be done soon.

Last, those who hold will lose at least 40% of their buying power by the end of this Bitcoin Bear market. Those who buy every twitch on the way down will lose buying power. You are only cheating yourselves with your delusions of "$200 within days" even weeks for that matter. We aren't at the bottom because there are still too many people who think it can't go lower. YOU WILL LOSE!  Kiss

I think there are far more bears then bulls right now.  So there are too many people who think it is going to go lower and not go up.  In reality, it could just go either way. 
full member
Activity: 168
Merit: 100
You people must be outside yo damn minds!  Tongue

First off, $88 was broken today, which already makes you WRONG.

Second, There is no reason to believe it's going to turn around here. If it were, it would have bounced much higher already. Those little recoveries after a sell-off just don't happen anymore. There are now strong wave structures heading down, and they aren't going to be done soon.

Last, those who hold will lose at least 40% of their buying power by the end of this Bitcoin Bear market. Those who buy every twitch on the way down will lose buying power. You are only cheating yourselves with your delusions of "$200 within days" even weeks for that matter. We aren't at the bottom because there are still too many people who think it can't go lower. YOU WILL LOSE!  Kiss

quote author=bitcoin BEAR etc...
full member
Activity: 143
Merit: 100
You people must be outside yo damn minds!  Tongue

First off, $88 was broken today, which already makes you WRONG.

Second, There is no reason to believe it's going to turn around here. If it were, it would have bounced much higher already. Those little recoveries after a sell-off just don't happen anymore. There are now strong wave structures heading down, and they aren't going to be done soon.

Last, those who hold will lose at least 40% of their buying power by the end of this Bitcoin Bear market. Those who buy every twitch on the way down will lose buying power. You are only cheating yourselves with your delusions of "$200 within days" even weeks for that matter. We aren't at the bottom because there are still too many people who think it can't go lower. YOU WILL LOSE!  Kiss
legendary
Activity: 1316
Merit: 1000
Varanida : Fair & Transparent Digital Ecosystem
Fibonacci retrace has it back to $104 ish within the next 4-5 days.
then, how about normal distribution?
full member
Activity: 168
Merit: 100
In my opinion:

Bull Scenario: Bounces up to $100, bounces off and falls down to $90, and holds between $90-$100 level for a bit means that double-bottom is a thing.

Bear scenario: Holds above $86-ish for a day or less, meaning its likely going to fall to $57 and then (hopefully) bounce.
full member
Activity: 224
Merit: 100
You know what, I agree with everyone that the price has been going down.. The charts don't lie, do they.

The real question for me is, when is the price going to start going up.

It could be any time.

That's what really scares me.

88 could be the bottom, and then I decide to sell because it suddenly blips to 93...
Except it's not 93, it jumps to 97... Well that's too high right, too high to buy back.
Then for some reason it keeps going, 110, 115.
Prices that seem ludicrous and a massive loss to be taken if the price comes back to 88 as I was previously expecting it to..

The way I see it BTC isn't going away overnight (hopefully), and the upside is the most radical thing about BTC, not the downside.

Unless the exchanges shut down, with the new interest in BTC, I don't think we're ever going back below 50 so the question is how close can we get before another rally starts?
donator
Activity: 1218
Merit: 1079
Gerald Davis
I think we are on a long slow sideways trend for a few months.*


(* well actually I don't but now all 3 baseless predictions are covered)
cp1
hero member
Activity: 616
Merit: 500
Stop using branwallets
I think we're on a long slow upwards trend for a few months.
hero member
Activity: 700
Merit: 500
What doesn't kill you only makes you sicker!
I love optimistic posts like this.  Smiley  Of course, I tend to be an optimist too.

It does seem like 88 is the new low.  I was bummed to see it go down there again today though.  Hopefully we are on our way back up now. 

I think we're on a long slow downtrend for a few more months yet.
legendary
Activity: 1148
Merit: 1001
It should bounce back closer to 200$ within days!

I love optimistic posts like this.  Smiley  Of course, I tend to be an optimist too.

It does seem like 88 is the new low.  I was bummed to see it go down there again today though.  Hopefully we are on our way back up now. 
full member
Activity: 462
Merit: 101
A Top Web 3 Gaming Layer2 Provider
Fibonacci retrace has it back to $104 ish within the next 4-5 days.

And after that? Sure it may retrace part of the move down. We are beginning to see lower highs and lower lows.

I suppose something above $ 79 (minimum of 5 May), maybe around 82, and then 49 - 55 $...
And I hope we will not have to test support at about 32.5.
member
Activity: 84
Merit: 10
Fibonacci retrace has it back to $104 ish within the next 4-5 days.

And after that? Sure it may retrace part of the move down. We are beginning to see lower highs and lower lows.
member
Activity: 84
Merit: 10
^ how is the bot trading this?
sr. member
Activity: 273
Merit: 250
It should bounce back closer to 200$ within days!
member
Activity: 84
Merit: 10
Watch out below if we don't bounce off 88.

Any idea where the next level of support is? Scary.

Edit: mods please move to speculation section. I meant to post this there. Thanks.
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