BTC May Go To $500 Get Your Shopping Carts Ready

MatTheCat

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Quote from: TERA on February 20, 2014, 08:41:55 AM

$540 is at least an OK place to have an order as there will be many opportunities to sell for a profit before it goes lower. When it first gets hit it will be oversold. But this is not so for $590. $590 is a very weak level right now.

I personally would be wary of playing the $540 bounce game right now. Already tested this support twice and sentiment is getting worse by the day. Just take one exasperated (or intentionally sabotaging) whale to just drop a shit load into the rebound recovery and Bitcoin sinks much further down there and then, as opposed to inevitably doing so a bit further down the line anyway.

TERA

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Quote from: MatTheCat on February 20, 2014, 08:38:14 AM

Quote from: TERA on February 20, 2014, 08:09:43 AM

I only have standing orders for flashcrashes and sharp movements. I don't see the point in having orders at a level where the price is just slowly moving through it on a technical breakdown and you'll have plenty of chance to buy at that level later.

Yep.

$540 will prove itself not so much a support level but a slight 'reaction' level as the price grinds down right through it.

Next real support to test after that is $380.

$540 is at least an OK place to have an order as there will be many opportunities to sell for a profit before it goes lower. When it first gets hit it will be oversold. But this is not so for $590. $590 is a very weak level right now.

MatTheCat

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Quote from: TERA on February 20, 2014, 08:09:43 AM

I only have standing orders for flashcrashes and sharp movements. I don't see the point in having orders at a level where the price is just slowly moving through it on a technical breakdown and you'll have plenty of chance to buy at that level later.

Yep.

$540 will prove itself not so much a support level but a slight 'reaction' level as the price grinds down right through it.

Next real support to test after that is $380.

Cyberlight

sr. member

Activity: 308

Merit: 250

Quote from: UnDerDoG81 on February 20, 2014, 07:48:15 AM

But am not sure if it will ever go over 700 again.

In a year, we passed the 10k

So yes, we see 700 soon.

TERA

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Quote from: bitgeek on February 20, 2014, 08:18:44 AM

Quote from: TERA on February 20, 2014, 08:09:43 AM

I only have standing orders for flashcrashes and sharp movements. I don't see the point in having orders at a level where the price is just slowly moving through it on a technical breakdown and you'll have plenty of chance to buy at that level later.

That's because price is not really moving down, it went up right after gox announced they're working on withdrawals, so it may go to 500 or not. Bitcoin is worth at least 700 and will jump there when the situation gets resolved.

Are you sure? I'm looking at the stamp chart and I find the action on the day of the announcement to be very unimpressive. There was low volume and it didn't really even put a dent in the downtrend, at all.

bitgeek

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Quote from: TERA on February 20, 2014, 08:09:43 AM

I only have standing orders for flashcrashes and sharp movements. I don't see the point in having orders at a level where the price is just slowly moving through it on a technical breakdown and you'll have plenty of chance to buy at that level later.

That's because price is not really moving down, it went up right after gox announced they're working on withdrawals, so it may go to 500 or not. Bitcoin is worth at least 700 and will jump there when the situation gets resolved.

TERA

hero member

Activity: 728

Merit: 500

I only have standing orders for flashcrashes and sharp movements. I don't see the point in having orders at a level where the price is just slowly moving through it on a technical breakdown and you'll have plenty of chance to buy at that level later.

UnDerDoG81

legendary

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Quote from: ?? on ??

Quote from: UnDerDoG81 on February 20, 2014, 07:09:04 AM

Have my order around 450. But am not sure anymore about this bitcoin thing.

whoa, what do you mean by "bitcoin thing" that sounds major, what's up?

were you one of those who purchased in December 2013?

or

just tired of all of the scams?

No I bought in april @200 and then in october @780 :/

But am not sure if it will ever go over 700 again.

Armis

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Quote from: Thylacine on February 20, 2014, 07:26:19 AM

Already bought at $630 ish ...

Feels dirty since my initial buy was around $150

hahaha @ feels dirty about $630

I too purchased at about that but not for btc, I just wanted to trade other cryptocurrency

I think $630 is a good number post MtGox issue, but it might take the rest of the month to see a profit on that.

MrHindsight

newbie

Activity: 10

Merit: 0

Currently a large portion of my buy orders are in the 375-425 range, but think these will only be hit if some serious bad news will spark large sell-offs. I think this is a plausible scenario, but also believe that it won't take long until the bull-market starts taking over again and this low-range becomes unlikely.

In consider low 500s highly likely though, based on the current sentiment, events (Gox) and historical movements - perhaps already upcoming week.

kwest

sr. member

Activity: 476

Merit: 250

Already triggered one of my orders at $591. Have orders every 5% all the way down to $333.

seleme

legendary

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Duelbits.com

Quote from: UnDerDoG81 on February 20, 2014, 07:09:04 AM

Have my order around 450. But am not sure anymore about this bitcoin thing.

That's good, first signs of good times that are coming Grin

Thylacine

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Already bought at $630 ish ...

Feels dirty since my initial buy was around $150

UnDerDoG81

legendary

Activity: 2179

Merit: 1201

Have my order around 450. But am not sure anymore about this bitcoin thing.

gannicus

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Activity: 80

Merit: 10

i want them at $10 so I can buy like a thousand BTC

Armis

hero member

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Merit: 501

BTC is dancing around $600 as I write this, but heading towards the $500+ side of the divide, I happen to like btc to buy at $550 or less. What's your comfort level at this stage of the game?

Topic: BTC May Go To $500 Get Your Shopping Carts Ready (Read 1114 times)