Support did not hold... But don't panic.

tokeweed

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Quote from: minerpumpkin on April 25, 2015, 04:20:58 PM

Those aren't even dead cat bounces. Those are more breakout-attempts out of a falling-wedge or falling-triangle, actually! It is only natural for the price to try to break out of the resistance, and by doing this it may very well fail, until it doesn't at some point.

What about now?

tokeweed

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Quote from: ensurance982 on April 25, 2015, 05:43:47 PM

Now I see the picture... I agree, that doesn't look like a dead-cat-bounce. Yup, falling something with the price trying to breakout off it while failing to do so. Right now we're knocking at the support line, let's see if it holds :/

You are correct. It will hold. Buying now and holding for the longterm is the only play here.

ensurance982

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Now I see the picture... I agree, that doesn't look like a dead-cat-bounce. Yup, falling something with the price trying to breakout off it while failing to do so. Right now we're knocking at the support line, let's see if it holds :/

minerpumpkin

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Those aren't even dead cat bounces. Those are more breakout-attempts out of a falling-wedge or falling-triangle, actually! It is only natural for the price to try to break out of the resistance, and by doing this it may very well fail, until it doesn't at some point.

tokeweed

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ensurance982

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Quote from: tokeweed on April 22, 2015, 06:09:03 AM

I'm pretty sure everybody will... Even the guys who are shorting it right now. But this run up could only be a...

Image isn't loading... but from the URL I can tell that you're talking about a "dead cat bounce"... Yeah I wouldn't call it that way, but rather an attempted breakout that bounces off resistance. But for the time being I remain cautiously bullish and hope for some more shorts to get margin called

There's still time to close, bears

tokeweed

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I'm pretty sure everybody will... Even the guys who are shorting it right now. But this run up could only be a...

minerpumpkin

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Quote from: randy8777 on April 22, 2015, 03:51:34 AM

Quote from: tokeweed on April 22, 2015, 02:44:43 AM

Quote from: BitmoreCoin on April 22, 2015, 02:40:18 AM

Has the price trend reversed?

Wait for it to go and stabilize above 270 or so... At least that's what I think.

at this point it won't be easy as there are traders who bought in at around $220 and are going to dump as soon as it goes higher. my guess is $250 within 2 weeks.

Would really love another surprise rally or rather a sustained growth like late February and early March. If we can do this again with this second, higher, double bottom, chances aren't bad we'll be exiting the 15 months downtrend this time.

randy8777

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Quote from: tokeweed on April 22, 2015, 02:44:43 AM

Quote from: BitmoreCoin on April 22, 2015, 02:40:18 AM

Has the price trend reversed?

Wait for it to go and stabilize above 270 or so... At least that's what I think.

at this point it won't be easy as there are traders who bought in at around $220 and are going to dump as soon as it goes higher. my guess is $250 within 2 weeks.

tokeweed

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Quote from: BitmoreCoin on April 22, 2015, 02:40:18 AM

Has the price trend reversed?

Wait for it to go and stabilize above 270 or so... At least that's what I think.

BitmoreCoin

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Has the price trend reversed?

Amph

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Quote from: tokeweed on April 21, 2015, 08:51:37 AM

Quote from: Amph on April 21, 2015, 08:15:32 AM

i like too see more the full chart, there is something familiar

snip

Capitulation... Looks like we need to go back to October 2012 levels then?

what it is worrying me is that we are not even in the despair phase, something along the line of "this is not even my final bottom"

october 2012 is coming next year with the halving

tokeweed

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Quote from: Amph on April 21, 2015, 08:15:32 AM

i like too see more the full chart, there is something familiar

Capitulation... Looks like we need to go back to October 2012 levels then?

Amph

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i like too see more the full chart, there is something familiar

tokeweed

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Quote from: Q7 on April 21, 2015, 07:08:09 AM

If it goes to 160-180 range and then bounces back up again, that should signal a double bottom. Right now my buy order are placed just above the previous low and there is a likelihood that bitcoin price will test those levels again. So it's a good and bad scenario depends on how you look at it.

Looks more like a reverse cup and handle to me.

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If it goes to 160-180 range and then bounces back up again, that should signal a double bottom. Right now my buy order are placed just above the previous low and there is a likelihood that bitcoin price will test those levels again. So it's a good and bad scenario depends on how you look at it.

Amph

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Quote from: ensurance982 on April 21, 2015, 06:10:44 AM

Quote from: tokeweed on April 20, 2015, 07:19:12 AM

Quote from: Amph on April 20, 2015, 07:15:21 AM

Quote from: tokeweed on April 20, 2015, 06:49:43 AM

Quote from: ensurance982 on April 20, 2015, 06:43:18 AM

I'm far more surprised at what price there actually was support! I don't think there are many trendlines that predicted this kind of behaviour, which makes me think that this really may be a solid bottom of some sort.

Are these levels a really good time to buy?

i would buy some and i would increase my buying the more we fall, we shouldn't fall too much in theory, we should floating around 150-200 in the worst case if another crash happen, but i'm confident that the previous crash(180) will not be surpassed

Nice strategy. I guess averaging would make perfect sense if it doesn't fall by a lot.

People call this strategy "a good strategy" but also "bag holding" and tell people they have gambling issues. If you actually invest in BTC in the longterm and only invest what you're willing to lose, this strategy does indeed make a lot of sense!

this strategy is aiming at increase bitcoin price, but at one point you must dump some btc to gain your profit(but many actually dump everything they bought), you can call it semi-bagholding

tokeweed

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Quote from: ensurance982 on April 21, 2015, 06:10:44 AM

Quote from: tokeweed on April 20, 2015, 07:19:12 AM

Quote from: Amph on April 20, 2015, 07:15:21 AM

Quote from: tokeweed on April 20, 2015, 06:49:43 AM

Quote from: ensurance982 on April 20, 2015, 06:43:18 AM

I'm far more surprised at what price there actually was support! I don't think there are many trendlines that predicted this kind of behaviour, which makes me think that this really may be a solid bottom of some sort.

Are these levels a really good time to buy?

i would buy some and i would increase my buying the more we fall, we shouldn't fall too much in theory, we should floating around 150-200 in the worst case if another crash happen, but i'm confident that the previous crash(180) will not be surpassed

Nice strategy. I guess averaging would make perfect sense if it doesn't fall by a lot.

People call this strategy "a good strategy" but also "bag holding" and tell people they have gambling issues. If you actually invest in BTC in the longterm and only invest what you're willing to lose, this strategy does indeed make a lot of sense!

Yup. Every bitcoiner should be doing this.

ensurance982

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Quote from: tokeweed on April 20, 2015, 07:19:12 AM

Quote from: Amph on April 20, 2015, 07:15:21 AM

Quote from: tokeweed on April 20, 2015, 06:49:43 AM

Quote from: ensurance982 on April 20, 2015, 06:43:18 AM

I'm far more surprised at what price there actually was support! I don't think there are many trendlines that predicted this kind of behaviour, which makes me think that this really may be a solid bottom of some sort.

Are these levels a really good time to buy?

i would buy some and i would increase my buying the more we fall, we shouldn't fall too much in theory, we should floating around 150-200 in the worst case if another crash happen, but i'm confident that the previous crash(180) will not be surpassed

Nice strategy. I guess averaging would make perfect sense if it doesn't fall by a lot.

People call this strategy "a good strategy" but also "bag holding" and tell people they have gambling issues. If you actually invest in BTC in the longterm and only invest what you're willing to lose, this strategy does indeed make a lot of sense!

tokeweed

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Quote from: Amph on April 20, 2015, 07:15:21 AM

Quote from: tokeweed on April 20, 2015, 06:49:43 AM

Quote from: ensurance982 on April 20, 2015, 06:43:18 AM

I'm far more surprised at what price there actually was support! I don't think there are many trendlines that predicted this kind of behaviour, which makes me think that this really may be a solid bottom of some sort.

Are these levels a really good time to buy?

i would buy some and i would increase my buying the more we fall, we shouldn't fall too much in theory, we should floating around 150-200 in the worst case if another crash happen, but i'm confident that the previous crash(180) will not be surpassed

Nice strategy. I guess averaging would make perfect sense if it doesn't fall by a lot.

Topic: Support did not hold... But don't panic. (Read 4102 times)