Bitcoin Price Decline To Support | Bitcointalksearch.org

uki

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Quote from: MF Doom on April 06, 2015, 11:19:07 AM

Quote from: uki on April 04, 2015, 05:04:23 AM

Quote from: Coinbuddy on April 01, 2015, 02:50:55 AM

Bitcoin price entered an unimpressive decline today after days of setting up the move. It may be a slow start or we may be seeing price bottom out near 1500 CNY and $240. At the time of writing price is resolving a correction near 1510 CNY and $244 from where it should make the next drop to a supporting trendline below.

Read here: https://www.cryptocoinsnews.com/bitcoin-price-decline-support/

pretty much worthless analysis. May go up or down. Sure it may. But which way and when that is the question!

You can find "analysis" done that predicts up, down, sideways...doesnt matter. There is not enough market history, and not enough answers (when it comes to things like mt gox) to accurately predict btc price. And at this point no one has consistently produced predictions or analysis, so its safe to say dont listen to things you read online, and ESPECIALLY on this forum about price movement.

Agree on that. Even, the most 'scientific' threads on this forum on the price prediction seem to miss the point about not having enough data to correctly assess the behaviour of Bitcoin, e.g., https://bitcointalksearch.org/topic/logarithmic-non-linear-regression-bitcoin-estimated-value-831547 (see the links there for more similar topics as well), let alone the daily 'going to the moon/zero' threads.

MF Doom

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Quote from: uki on April 04, 2015, 05:04:23 AM

Quote from: Coinbuddy on April 01, 2015, 02:50:55 AM

Bitcoin price entered an unimpressive decline today after days of setting up the move. It may be a slow start or we may be seeing price bottom out near 1500 CNY and $240. At the time of writing price is resolving a correction near 1510 CNY and $244 from where it should make the next drop to a supporting trendline below.

Read here: https://www.cryptocoinsnews.com/bitcoin-price-decline-support/

pretty much worthless analysis. May go up or down. Sure it may. But which way and when that is the question!

You can find "analysis" done that predicts up, down, sideways...doesnt matter. There is not enough market history, and not enough answers (when it comes to things like mt gox) to accurately predict btc price. And at this point no one has consistently produced predictions or analysis, so its safe to say dont listen to things you read online, and ESPECIALLY on this forum about price movement.

uki

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Quote from: Coinbuddy on April 01, 2015, 02:50:55 AM

Bitcoin price entered an unimpressive decline today after days of setting up the move. It may be a slow start or we may be seeing price bottom out near 1500 CNY and $240. At the time of writing price is resolving a correction near 1510 CNY and $244 from where it should make the next drop to a supporting trendline below.

Read here: https://www.cryptocoinsnews.com/bitcoin-price-decline-support/

pretty much worthless analysis. May go up or down. Sure it may. But which way and when that is the question!

Kazimir

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Quote from: cryptojumper on April 02, 2015, 08:56:30 AM

what does this Support mean? sounds like some group that buy at that price no matter what... Grin

but i guess its not so, so what is it ? Huh

Nothing. It's mumbo jumbo that members of the technical analysis cult tend to throw at eachtother, trying to misguide pure speculation as fake insight or knowledge on price development.

It's almost hilarious, this voodoo involving "fibonacci retracement levels", "support" at completely arbitrary levels, "trends" based on random intervals, or "corrections" and whatnot.

If their prediction method actually worked (even the slightest bit), people would be making shitloads of money with it, rather than trying to influence or convince others on forums.

BitcoinNewbie15

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Bitcoin isn't a bubble. It's the pin!

yeah, bitcoin has been going sideways for a few days now. I hope it goes up, but any price movement would be interesting.

ensurance982

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Trust me!

Quote from: 1Referee on April 03, 2015, 03:30:53 PM

It will be interesting to see how long traders will support the $250 level and not dump coins out of boredom if it doesn't go up much higher.

My guess is that we will advance to $275 the comming weeks if nothing crazy happens.

$240 has proven to be quite a strong support. The bears (shorters) just didn't succeed in pushing the price any lower. It's just easier and (more importantly) more profitable to just bet on rising prices now, it seems.

Brewins

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$10 fall now is unimpressive.

Such sideways WOS

1Referee

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It will be interesting to see how long traders will support the $250 level and not dump coins out of boredom if it doesn't go up much higher.

My guess is that we will advance to $275 the comming weeks if nothing crazy happens.

ensurance982

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Trust me!

Downtrend of that small falling wedge really was broken the other day. It's good to see that the trend is still going strong and holding as of now. I think it's safe to say that we've successfully broken out of that wedge!

MF Doom

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Quote from: bri912678 on April 02, 2015, 10:19:16 AM

Cryptocoinsnews regularly gets a new analyst when the previous one makes enough bad calls. If they get lucky the new one might make a few good calls and appear competent before getting it wrong. Each new analyst generally introduces a new form of analysis, but eventually fails to prove it works.

there are enough btc in the hands of a small number of people, that any analysis given, even by "experts" holds no bearing. One whale buy or sell can make for massive price swings. There is no logic behind the price, I think this has been proven. Although it appears the fallout from the Gox collapse has finally played out, and the price may be at a sustainable level (at the $200 level taht is)

HarmonLi

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Quote from: Coinbuddy on April 01, 2015, 02:50:55 AM

Bitcoin price entered an unimpressive decline today after days of setting up the move. It may be a slow start or we may be seeing price bottom out near 1500 CNY and $240. At the time of writing price is resolving a correction near 1510 CNY and $244 from where it should make the next drop to a supporting trendline below.

Read here: https://www.cryptocoinsnews.com/bitcoin-price-decline-support/

I guess it was at this point that we finally broke out of that dreadful mini falling wedge. Things get never boring in Bitcoin land... Let's see where this tiny rocket gets us this time!

dothebeats

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Quote from: cryptojumper on April 02, 2015, 08:56:30 AM

what does this Support mean? sounds like some group that buy at that price no matter what... Grin

but i guess its not so, so what is it ? Huh

Support means someone who is willing to buy the price on a certain threshold, like for example, we are in the $230 price range. People who are willing to buy within that range and consider that a good entry point can be considered as support. The effect is that the certain price cannot be broken or cannot continue to fall down, as people consider that as a good price to buy in.

bri912678

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Cryptocoinsnews regularly gets a new analyst when the previous one makes enough bad calls. If they get lucky the new one might make a few good calls and appear competent before getting it wrong. Each new analyst generally introduces a new form of analysis, but eventually fails to prove it works.

cryptojumper

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what does this Support mean? sounds like some group that buy at that price no matter what... Grin

but i guess its not so, so what is it ? Huh

MF Doom

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Quote from: dothebeats on April 01, 2015, 08:00:36 AM

Quote from: Amph on April 01, 2015, 04:26:17 AM

where you see this decline? it's been at 230 since january, sry but this is a bullshit claim

270 last week was nothing more then a trap, you could talk about decline when we return on sub 200

Even though we are facing a decline, I still doubt if we will see sub 200 prices in the coming months. Support still holding on though, bottom could be something about $220-$230, but sub-200 is just way low.

Nothing is way too low. We've been in a long term $1000 price decrease, so sub $200 (only another $50 decline) is definitely possible. Will it stay there, probably only VERY shortly, but there is no doubt one single large sell or bad news event (exchange goind down, btc site hacked, etc) could trigger a large $50+ drop

dothebeats

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Quote from: Amph on April 01, 2015, 04:26:17 AM

where you see this decline? it's been at 230 since january, sry but this is a bullshit claim

270 last week was nothing more then a trap, you could talk about decline when we return on sub 200

Even though we are facing a decline, I still doubt if we will see sub 200 prices in the coming months. Support still holding on though, bottom could be something about $220-$230, but sub-200 is just way low.

Q7

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Whatever it is, it's still a 50-50 guess. A person could come up with a comprehensive analysis to determine the direction but I find that the more complex it gets, the more inaccurate the results. Well, just have to wait and see to find out. Right now, it seems like a slow decline.

WhatTheGox

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Quote from: Coinbuddy on April 01, 2015, 02:50:55 AM

Bitcoin price entered an unimpressive decline today after days of setting up the move. It may be a slow start or we may be seeing price bottom out near 1500 CNY and $240. At the time of writing price is resolving a correction near 1510 CNY and $244 from where it should make the next drop to a supporting trendline below.

Read here: https://www.cryptocoinsnews.com/bitcoin-price-decline-support/

This should be in speculation, nobody can really say what the price will do, i cant recall a single analyst being consistantly right.

Amph

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where you see this decline? it's been at 230 since january, sry but this is a bullshit claim

270 last week was nothing more then a trap, you could talk about decline when we return on sub 200

Kazimir

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Quote from: Coinbuddy on April 01, 2015, 02:50:55 AM

Bitcoin price entered an unimpressive decline today after days of setting up the move. It may be a slow start or we may be seeing price bottom out near 1500 CNY and $240. At the time of writing price is resolving a correction near 1510 CNY and $244 from where it should make the next drop to a supporting trendline below.

Read here: https://www.cryptocoinsnews.com/bitcoin-price-decline-support/

Utter nonsense. You can clearly see it will go up, ALL patterns indicate this:

In fact if we break $252 within 19 hours, it may go up even further beyond that!

(now GTFO out with your technical analysis horsecrap)

Topic: Bitcoin Price Decline To Support (Read 1453 times)