Topic: [Short-term trade] $480 before $430? (Read 1151 times)

Tonight I've been crashing on candles and trend analysis just trying to get an idea how you all read those graphs and charts. The thing is, I started researching the market aspect just to understand when might be a good time to invest for a long term thing, not interested in playing the market. All I wanted to do was maybe buy a couple btc and store it over the next year, pick up more here and there if it was a good buy based on long term gains, and maybe have a small amount - $50-$100 - to spend/send/experiment with.

Then I ended up checking out the monster thread and see all the charts and wanted to know what that's about...now it makes me want to day trade. Just watching the market numbers showed me how insanely addictive this can be, and that I'm dancing with my inner digital adrenaline junkie...leaning more into learning and jumping in.

Am I going to be any good at it?

My impression overall just as a dynamics trend is it's going to drop one more time (like my magic number $329) and that'll be met with less "back and forth" trading that seems to me is what's keeping it stuck in this $400-$500 range and 300 range is acceptable enough for the hold outs to go ahead and start the buying again.

It's generally taking into account the 15th that people seem to be waiting on - seems like this lack of movement is because of the buyer hold out more than seller hold out - it'll slip down below $400 and spook a few, down to the low to mid $300...but then it'll peak and start going sideways until mid summer and bust out with a more upward trend on into next year...

That's given things just carry on as usual.

If there's any draconian government bullshit, add a huge buy up wave.

If there's anymore banking bullshit, add a huge buy up wave.

If the cartel blows something else up, it'll stall out til people get a grip.

If they roll out another "anti government" patsy, another crash would follow.

K, now I can see whether I have a feel for this or if I need to just fix myself a brain wallet and go find other things to do 

I meant making a bet such as "will price of Gold hit 1300 before 1200".

Anything with high leverage (i.e. Commodity trading, Forex, credit "derivatives", etc) has much more risk than BTC.
For something "similar" to BTC (alt coin) trading you could try penny stocks.

High: 471 USD
Let's aim for $600...$700..
I miss the rallies, not based on "greed", but the movement is exciting.

DO these sort of derivatives exist in the financial world? Seems like good gambling.

Yeah. After further analysis, very low volume trading today. There won't be enough support to sustain this price ($460). We'll probably peak at $480, then drop to $420 on monday

Looks like it's going to hit $480 first. I think if it hits $420 for a third time then we may break $400.

Most short-term traders seem to be Bearish, so the stage was set for a Rally?
Sat night usually falls, so going much higher will be tough......and interesting.

Can you both clarify what you mean by having buy positions set?

Thanks

Too risky IMO. Maybe I'd gamble 25% tops.

Why is the price still going up? Speculation? Short-term traders? We're heading into the $460s today

I have buy positions set at 400ish and another active short position. I'm curious about hearing your views, because I can't see myself buying at $450

Even Bobby Lee expects a market crash!

The price will sit in the $425-$460 range up until April 15th.  Nothing but short sellers/buyers right now.

Not a single one of the big boys is going to risk China dumping on them.

I feel pretty confident that it will go down before up. I would set my buy at around $415-$420 if I were going to buy soon.

www.btcpredictions.com - this isn't always right but it's very good at predicting direction of movement. I will be very surprised if we see $480 before $430.

I think that when we hit $480, it's not going to be from a slow gradual climb - it will be part of a spike that takes us above $500. That's my prediction anyway.

we are in a phase where it's pretty much terrifying to buy Bitcoin hoping it goes up, way too much bad news, way too many scams and bankruptcies going on at the same time (gox, countless exchanges shutting down, China and recently neo Bee scam)

in the past when we reach such phase (extreme fear) it's usually when the price starts to go back up. This time it feels different the market is behaving differently, it's the constant bans, scams and bankruptcies causing huge loss of confidence along with market manipulators trying to squeeze out every dime from bull or bear traps.

Personally i'm not buying any Bitcoins at the moment, as i have "Enough" that i purchased in the previous drop to $400's, if it goes up from now on then good for me. I'll only buy more if it actually goes to $200 range or less to cost average

Everyone thinks the price will go up into a 5th bullrun, but markets from my experience tend to go against what everyone expects or is used to. Maybe 2011 all over again

I think we will go below 430$
480$ will not be hit anytime soon.

I'm thinking a slow grind sideways over the weekend but I think a spike to $480 is more likely than a spike down to $430 at this point.

Probably going down instead of up

BTC is ~$455 with a high of almost $460
It looks and feels like "going up", but we are heading into a weekend.
Do you think it will hit $480 or $430 next?