Downtrend started? - page 7. | Bitcointalksearch.org

YoYa

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Quote from: proudhon on January 06, 2014, 02:17:53 PM

Quote from: dnaleor on January 06, 2014, 02:14:23 PM

If we compare the china-bubble to the april bubble, we see some similarities:

After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trand down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

Just judging by the technical analysis I see, and based on the data coming in from sources from China and such, we're definitely in a downtrend that will probably certainly last between 3 months and 18 months and will go at least as low as the last double channel triple shoulder top a few months ago, just following the trend lines from the 2-3 day moving average oscillator. That means the price will likely go at least to $78, before rebounding to new ATHs in 2018. There is black swan chance the price will follow the more dramatic downtrend indicated by the exponential channel and we could see prices retest $2.

I'm really looking forward to this, other people's capitulation equals further consolidation for those who do not blind themselves to the unfurling reality. We shall see the true depth of the newly invested's levels of belief as the year(s) roll on.

arepo

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this statement is false

Quote from: billyjoeallen on January 06, 2014, 08:47:17 PM

Quote from: JimboToronto on January 06, 2014, 02:12:28 PM

I sense this is either a bull trap or the mother of all bear traps. If it's a bear trap, we're going to the moon, guys. I'm confused as hell and have never seen BTC behave this way before, so I'm hodling as I already broke even on USD (even without the $997 Mt Gox owes me). I'm riding this badger all the way up or down. YEE Haw!!

you've been here quite some time to say you've never seen it behave this way... i wouldn't say it's anything out of the ordinary besides the obvious differences in price environment.

Miz4r

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Quote from: MatTheCat on January 06, 2014, 03:20:27 PM

Quote from: TERA on January 06, 2014, 02:50:31 PM

Quote from: dnaleor on January 06, 2014, 02:48:41 PM

Quote from: traderCJ on January 06, 2014, 02:45:58 PM

Downtrend? FFS were you asleep this weekend?

no, but I sold some today. Think the downtrend is starting.

Were those your coins I got at 875 on stamp?

They might have been mine.

I impulse panic sold at $880! Funniest of all is that I had just 60 minutes earlier paid $931 for for 5 of them, the remaining 17 I paid £835 for.......

.......this is the second time I have cost myself dearly due to babysitting/checking charts at inopportune moments. In my defense, Bitcoin moves far too rapidly and schizophrenically.

I think you need some HODL therapy. I've heard it works wonders. Tongue

billyjoeallen

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Hide your women

Quote from: JimboToronto on January 06, 2014, 02:12:28 PM

I sense this is either a bull trap or the mother of all bear traps. If it's a bear trap, we're going to the moon, guys. I'm confused as hell and have never seen BTC behave this way before, so I'm hodling as I already broke even on USD (even without the $997 Mt Gox owes me). I'm riding this badger all the way up or down. YEE Haw!!

MAbtc

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Quote from: firstlast on January 06, 2014, 08:22:07 PM

Price went from 130 to 65 in July because MtGox froze all fiat withdrawals for two weeks^_TM. Such a thing has not happened this time around, so we are not in a downtrend, but more uncharted territory.

I don't think this had anything to do with it.

I smell more than a small correction to the uptrend here. We'll see. Cheesy

firstlast

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Price went from 130 to 65 in July because MtGox froze all fiat withdrawals for two weeks^_TM. Such a thing has not happened this time around, so we are not in a downtrend, but more uncharted territory.

T.Stuart

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Quote from: porcupine87 on January 06, 2014, 05:00:51 PM

Quote from: dnaleor on January 06, 2014, 02:09:00 PM

Is this a downtrend or just a correction?

Personally, I believe we will see this downtrend in the next weeks, until we reach the 500 USD levels.

If we compare the china-bubble to the april-bubble, we see some similarities:
After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trend down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

Thoughts?

So after the Juni11 bubble it took nearly 2 years to reach that level again(30$). After the april13 bubble it took 6 months to reach that level again(250$). And now, how long will it take to see the level of the november bubble again (1200$)? 24 months, 6 month, 1.5month?

I like that forecasts

("eehh, last time it was 6month, so now it will be 6 month again")

Around 1.5 months then.... Oh golly! Everything fits so perfectly! Shocked

Thanks for that! Wink

porcupine87

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hm

Quote from: dnaleor on January 06, 2014, 02:09:00 PM

Is this a downtrend or just a correction?

Personally, I believe we will see this downtrend in the next weeks, until we reach the 500 USD levels.

If we compare the china-bubble to the april-bubble, we see some similarities:
After the bubble, we trended down for several weeks from 150 USD towards 65 USD! I do not think we will trend down that much this time, but a downtrend will happen I guess.
After the downtrend, we saw slow growth and a lot of merchant interest. That phase will be bullish for bitcoin, triggering a new bubble.

Thoughts?

So after the Juni11 bubble it took nearly 2 years to reach that level again(30$). After the april13 bubble it took 6 months to reach that level again(250$). And now, how long will it take to see the level of the november bubble again (1200$)? 24 months, 6 month, 1.5month?

I like that forecasts

("eehh, last time it was 6month, so now it will be 6 month again")

piramida

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Borsche

Quote from: traderCJ on January 06, 2014, 04:10:46 PM

Dude, he's joking around

Methinks there is a program out there which generates accounts spamming Primedice advertisements on this forum. Influx of new users which post incomprehensible gibberish and all of them have primedice promo link in their signature. Pattern! Easy way to make money, they think. Turn the forum into a dump, they do.

JimboToronto

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Quote from: proudhon on January 06, 2014, 03:41:42 PM

Quote from: traderCJ on January 06, 2014, 03:17:39 PM

Quote from: MatTheCat on January 06, 2014, 03:14:38 PM

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story. With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops. And don't rule out complete failure of bitcoin at the end of the coming long slow slide. 2014 will certainly be one of the worst years in bitcoin history. If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

Or the Chinese government could simply apply the Secret Satoshi Escape code, speed up the process, and steal everybody's coins, convert them to yuan, refuse to buy this spring's U.S. Treasury bonds (crashing the dollar), and take over the world, except for North Korea, which doesn't participate.

traderCJ

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Quote from: undeadbitcoiner on January 06, 2014, 03:57:11 PM

Quote from: proudhon on January 06, 2014, 03:41:42 PM

Quote from: traderCJ on January 06, 2014, 03:17:39 PM

Quote from: MatTheCat on January 06, 2014, 03:14:38 PM

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story. With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops. And don't rule out complete failure of bitcoin at the end of the coming long slow slide. 2014 will certainly be one of the worst years in bitcoin history. If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

Are you gone Crazy? Huh

Or you are just wake up from a Bad Dream? Huh

What i Guarantee you is BTC is Never going to go back then $500 now.
If you have any Logic or you are just fucking telling you Dream?
Dont Dream that you could buy BTC again in Less then $500. China is something not everything Note that.

Dude, he's joking around

undeadbitcoiner

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Undeadbitcoiner Will not DIE until 1BTC=50K

Quote from: proudhon on January 06, 2014, 03:41:42 PM

Quote from: traderCJ on January 06, 2014, 03:17:39 PM

Quote from: MatTheCat on January 06, 2014, 03:14:38 PM

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story. With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops. And don't rule out complete failure of bitcoin at the end of the coming long slow slide. 2014 will certainly be one of the worst years in bitcoin history. If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

Are you gone Crazy? Huh

Or you are just wake up from a Bad Dream? Huh

What i Guarantee you is BTC is Never going to go back then $500 now.
If you have any Logic or you are just fucking telling you Dream?
Dont Dream that you could buy BTC again in Less then $500. China is something not everything Note that.

crrafferty

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I really don't understand why all these people are panic selling let alone buying in during spikes. My basic game plan is buy low or exchange alt to btc then sell high. So I buy in at $xxx.xx price and then I set a target of $xxx.xx. Once I hit that target I sell. The key is to not be greedy and play smart. You can ALWAYS buy back in and ride the horse some more after picking a new target. Just my .02 cents of investing. So far it has worked out for me quite well. Just purchase a new 4K tv and EOS70D thanks to our BFF BTC. With all that being said I feel that BTC will hit a downward trend pretty soon. As some people have previously mentioned, once again it blew up way to fast. But on a positive note I have noticed that with each blow up they have slowed down a pretty good amount. Leading me to believe that after a few more times of this we will actually start to see steady growth between $800-1100.

Quote from: proudhon on January 06, 2014, 03:41:42 PM

Quote from: traderCJ on January 06, 2014, 03:17:39 PM

Quote from: MatTheCat on January 06, 2014, 03:14:38 PM

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story. With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops. And don't rule out complete failure of bitcoin at the end of the coming long slow slide. 2014 will certainly be one of the worst years in bitcoin history. If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

One of my biggest fears is the release of dedicated Scrypt ALT Coin miners (pretty sure I just botched the official name of these lol). If these actually come into fruition in the next few months, I could see them hurting the alt currency world.

proudhon

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Quote from: traderCJ on January 06, 2014, 03:17:39 PM

Quote from: MatTheCat on January 06, 2014, 03:14:38 PM

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

It's true, but it's not the complete story. With only 3 more weeks of life in China, bitcoin will be free to enter the downward trend I described earlier, which is also backed up by good solid technical analysis and sources, again most of the best sources are in Chinese but also in other non-English and hard to read languages for English readers.

Be prepared for anything, including a retest of $2 and possibly $1 as the strength of the downtrend develops. And don't rule out complete failure of bitcoin at the end of the coming long slow slide. 2014 will certainly be one of the worst years in bitcoin history. If it survives, we might see $100 again, but it's just probably certainly unlikely, I'd say with certainty.

T.Stuart

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One Token to Move Anything Anywhere

Quote from: traderCJ on January 06, 2014, 03:29:04 PM

Quote from: MatTheCat on January 06, 2014, 03:20:27 PM

Is it? Isn't it?

I dont fkn know. All I have got to go on is 2nd rate rumours and 3rd rate corporate media reports. But if it is true, then it is bad. It has to be bad. It can't possibly be anything other than bad.....if it were to be true.

Well honestly I don't know for sure either, but it sounds like worst case scenario the Chinese exchanges are shut down. However, I don't think this will happen. It will simply be much harder to get CNY in and out of exchanges. In any event, it is wealthy Chinese investing in Bitcoin. Not being able to liquidate through a domestic bank isn't a huge deal to them. The world is a big place and it makes sense to own a chunk of something that could appreciate dramatically in the future.

You know purely from a cold-hearted perspective sometimes I think it would be good for the Bitcoin market if the exchanges did just shut down totally - a clean break - as then there would be no more psychological drama. I really believe Bitcoin would go up super-steady (as opposed to just very steady Cheesy

) if this happened.

bassclef

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Quote from: MatTheCat on January 06, 2014, 03:20:27 PM

They might have been mine.

I impulse panic sold at $880! Funniest of all is that I had just 60 minutes earlier paid $931 for for 5 of them, the remaining 17 I paid £835 for.......

.......this is the second time I have cost myself dearly due to babysitting/checking charts at inopportune moments. In my defense, Bitcoin moves far too rapidly and schizophrenically.

Seriously, and I hope you don't take this the wrong way, but you need to stop trading.

undeadbitcoiner

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Undeadbitcoiner Will not DIE until 1BTC=50K

Its not DOwntrednd
Its stablizing market, 100$ up and down is actually nothing in Bitcoin Market now, but as much as it swings and upwards slowly that will stablize for that point like 550$ and now 900$. Why we think if there is 2-3 Candle downwards then its downtrend.
I saw some thread about China,
Nothing is going to happen in China now, China's Volume are already picking Up in HongKong, If china will be closed then 796 will be the next world's largest exchange where chinese used to trade and if we all notice now That market is leading in Price and in volume with MtGox, Bitstamp, BTCe and BTC China. If China market will be closed then HongKong will get all the Volumes from Huobi and OKCoin which are the largest volume trader now so nothing to worry about it, Chinese people are themself worried for trading and investing in Bitcoin so they already started backup in HongKong.
Bitcoin will uptrend always be sure for that and believe in that.

Good Luck

traderCJ

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Quote from: MatTheCat on January 06, 2014, 03:20:27 PM

Is it? Isn't it?

I dont fkn know. All I have got to go on is 2nd rate rumours and 3rd rate corporate media reports. But if it is true, then it is bad. It has to be bad. It can't possibly be anything other than bad.....if it were to be true.

Well honestly I don't know for sure either, but it sounds like worst case scenario the Chinese exchanges are shut down. However, I don't think this will happen. It will simply be much harder to get CNY in and out of exchanges. In any event, it is wealthy Chinese investing in Bitcoin. Not being able to liquidate through a domestic bank isn't a huge deal to them. The world is a big place and it makes sense to own a chunk of something that could appreciate dramatically in the future.

segeln

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Quote from: dnaleor on January 06, 2014, 02:09:00 PM

Personally, I believe we will see this downtrend in the next weeks, until we reach the 500 USD levels.

Where do you see a downtrend?
https://www.tradingview.com/x/as4MshGB/

It is a stable and bullish up- trend now Lasting 3 weeks

MatTheCat

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Quote from: TERA on January 06, 2014, 02:50:31 PM

Quote from: dnaleor on January 06, 2014, 02:48:41 PM

Quote from: traderCJ on January 06, 2014, 02:45:58 PM

Downtrend? FFS were you asleep this weekend?

no, but I sold some today. Think the downtrend is starting.

Were those your coins I got at 875 on stamp?

They might have been mine.

I impulse panic sold at $880! Funniest of all is that I had just 60 minutes earlier paid $931 for for 5 of them, the remaining 17 I paid £835 for.......

.......this is the second time I have cost myself dearly due to babysitting/checking charts at inopportune moments. In my defense, Bitcoin moves far too rapidly and schizophrenically.

Quote from: traderCJ on January 06, 2014, 03:17:39 PM

Quote from: MatTheCat on January 06, 2014, 03:14:38 PM

with Bitcoin only having 3 more weeks to live in China

This simply is not true.

Is it? Isn't it?

I dont fkn know. All I have got to go on is 2nd rate rumours and 3rd rate corporate media reports. But if it is true, then it is bad. It has to be bad. It can't possibly be anything other than bad.....if it were to be true.

Topic: Downtrend started? - page 7. (Read 9511 times)