Combined log chart of gox, stamp, and btce, plus a few trendlines

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: dreamspark on March 01, 2014, 10:41:05 AM

I can definitely see us dipping a bit lower, even if only temporary.

Im not sure if we will break $400 but I still think the effect of gox will take some time to recover, there's still bad news and speculation to come until we know the truth. If ever.

The $400 drop just felt too quick and sudden to be a final capitulation.

I am in exactly the same camp.

For the first time in a long time, I am not scared of Bitcoin in the medium term.

Bitcoin should trend lower over the next couple of days and if $530 range holds, then that could be the bottom...for now.

But I do suspect that we will be revisiting and undershooting that blue line long before we are seeing any new all time highs.

@TERA. What are the parameters u are using for that chart?

TERA

hero member

Activity: 728

Merit: 500

I found it interesting that gox bounced off of somewhere right near that purple line with an immense support, and this was also the line that served as support in 2011 and through the recovery in 2012. It is as if that is the "when the shit hits the fan or a hacker is dumping a million coins on gox, here is where support will be" line, but maybe it only happens on gox. (though btce and finex touched down there for a second as well).

Under less than apocalyptic circumstances, blue is a very strong support.

The green trendline is like an average, rallys like to follow that line for a while, and fools always think it's going to be the new support trendline.

dreamspark

hero member

Activity: 798

Merit: 1000

I can definitely see us dipping a bit lower, even if only temporary.

Im not sure if we will break $400 but I still think the effect of gox will take some time to recover, there's still bad news and speculation to come until we know the truth. If ever.

The $400 drop just felt too quick and sudden to be a final capitulation.

Ibian

legendary

Activity: 2268

Merit: 1278

That's a pretty rainbow.

TERA

hero member

Activity: 728

Merit: 500

In case you were having trouble getting a chart with the entire history now that gox is dead.

https://www.tradingview.com/e/T8GEpm09

Commence speculation.

Topic: Combined log chart of gox, stamp, and btce, plus a few trendlines (Read 640 times)