24 Hour bottom, any guesses?
Me-$89
Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...
Where do you see the larger support at 82?
Expect a bounce around that level, but be careful with catching falling knives. Sooner or later we will fall below $80ish, the big question is "when" and after "how many bounces". Two months and a half passed after the April, 10th crash, and it looks very much like that the decline will be in fact longer than the 5-months bear we had in 2011.
Honestly, I hope BrightAnarchist is not right predicting a multi-year bear market, that would be disheartening, and BTC is so small that just a few big players' moves can reverse the trend.Based on this?
And to second bold: of course that's not true and you said it yourself,
"few big players' moves can reverse the trend." That's far more likely outcome than a multi-year bear market... Are you just trying to create selling pressure with that statement?
First question: yep, based on that. Technicals say there will be support and thus a bounce at $80ish, traders will want to play that in a sort of self-fulfilling profecy, as usual.
Second question: I don't try to create anything with my statements, you need to be a delusional fool to think that a post on these forums can affect the price. I agree that a multi-year bear market
feels unlikely, but the cold, technical truth is that it looks we are heading to that. Nevertheless, as I stated this is a very tiny market in which technicals are pretty much useless to predict mid and long term moves, you just need one big player throwing a few millions to the market to completely reverse the trend. Obviously that cannot be predicted, if it happens we will see it just after it happened
