I agree with the OP
Bitcoin trades like a penny stock, moving with speculative fever in the broader market.
If stocks crash, I would expect Bitcoin to fall as well, at least temporarily.
That said, I'm bullish long term so I would see any move down as a great buying opportunity.
Topic: It's looking a bit bearish right now - page 3. (Read 4309 times)
The trend line is NOT broken, you drawing lines that support your theory.
Look at the month, and take the bottoms, and connect the dots, the price will soon bounce off the trend line upwards..
but in my eyes we wont truly hit the trend line for roughly a week if we continue going sideways..
If it goes down in the short term(20-50 cents), it will touch trend line and start our little rally upwards..
reading OP again, maybe I misunderstood..
but my point remains..
Look at the month, and take the bottoms, and connect the dots, the price will soon bounce off the trend line upwards..
but in my eyes we wont truly hit the trend line for roughly a week if we continue going sideways..
If it goes down in the short term(20-50 cents), it will touch trend line and start our little rally upwards..
reading OP again, maybe I misunderstood..
but my point remains.. I think this analysis is flawed. The crash stopped at $6.2 and now the bulls have reinforced their positions to the point where the asks look puny in comparison. We will at least test higher levels before another drop is a possibility. Currently the buyers are simply waiting for the sign, when it comes we will test at least $7.2.
Nail head, meet hammer...
Exactly
+1
I think this analysis is flawed. The crash stopped at $6.2 and now the bulls have reinforced their positions to the point where the asks look puny in comparison. We will at least test higher levels before another drop is a possibility. Currently the buyers are simply waiting for the sign, when it comes we will test at least $7.2.
We just failed to hit new lows in this wave so the crash is cancelled. Continue on with the current price range.
This is similar behavior we had around 4 on our way up to 7. There is always the possibility we are about to launch to $11.
This is similar behavior we had around 4 on our way up to 7. There is always the possibility we are about to launch to $11.
I think if you short right now, put a stop at 7.2 and go long at 7.3, you can't possibly lose. 
Well you've called it a few times, but I think your wrong about this one.
Next move is UP, correction is over.
Next move is UP, correction is over.
We will be moving out of this perpetual $6.25-7.22 range soon enough. MACD is crossing down and there's an obvious head & shoulders pattern. The long-term support is getting close to the $7-7.2 resistance, and bearish signals are starting to show up, so it looks like it's more likely for the long-term support to break.
My opinion is that the TV show won't do too much, and if it causes new money to come in at all, it won't come instantly. Look out for a reasonably large correction before the rally continues.
Jump to: