Yep, yep. Not trying to give you advice, just speculating.
Wouldn't the fact that sub-$300 prices would be a major break of the long term trend make you uneasy?
$400 is right on the 200 EMA on the week chart. A perfect place to bounce up off of just like we did in July 2013 at the bottom of the last bear market.
As I see it, going to 200-300$ is the continuation of the long term trend. Every bubble has dropped to the level around the peak of the previous bubble.
I actually don't use the charts much with cryptos to make decisions in trading. This market is unregulated and the wealth highly concentrated, so the price doesn't move in a way that would make sense in regular commodity markets. What interests me the most are the proper reasons that give potential to the rise of demand. If there are new reasons for people to buy and hold, then I'm back being bullish. During the past months there have been only reasons why people should drop bitcoin. I see that only hype and stupidity has postponed this drop.
To me "look! everyone seems to be buying!" is no reason to buy. I need better reasons about the success of the commodity itself, not just another wave of hype.
Sounds like we have very different trading/investing strategies. I'm definitely a mid/short term trader so charts are a must for me.
I think there have been huuugely positive signs coming out all through this bear market that have been overshadowed by negative press. So much investment in bitcoin based businesses, apps, big companies accepting bitcoin as payment, atms, general public consciousness of bitcoin, etc, etc. As a long term bull, I think this is the best time one could possibly buy. The price is only currently low because people are freaking out about Gox which has nothing to do with all the positives mentioned above.
Here's what I'm talking about... I mistyped before, this is the 52 week EMA which is exactly the line that the last crash rode up and off its final bottom. Also note that the low of that crash was not near the high of the previous bubble.
i agree, same sentiment here. (although i still expect a last deathrattle by old Gox)
This ongoing drama has held the market depressed for quite a while and at least the inescapable shutdown went off smoothly.
The situation could have escalated in a much uglier fashion that would've harmed the whole economy and prolonged the bear market far into 2014.
Atm it feels more like a relief that another unprofessional and highly scammy/manipulative appearing company finally died with a decent firework to the rising standards and demands by a growing community.
It's time for bitcoin to leave the toddler phase with its teething problems and take the first steps towards maturity for becoming
the online currency.
Economy can take a breath and catch up developing better apps and putting out the feelers to new market niches and business opportunities.
I'd love to see more online services accept btc - porn and gambling already on its way, next step: payment for digital media (movies/series/music/games) and online services (web storage, hosting websites, blogs etc.).
i hope for news with names like Amazon(Coin), Netflix, Blizzard, Steam(OS), Soundcloud and many others in the future.
