Topic: Will bitcoin surpass 300 in the next 24 hours? (Read 3909 times)

http://blogs.wsj.com/digits/2015/03/10/secretive-bitcoin-startup-21-reveals-record-funds-hints-at-mass-consumer-play/

This kind of news makes me feel like it's getting closer very quickly!

Hopefully!


That's certainly a possibility. I can't wait for the price to break the $300 mark. It seems so close yet so far.

It seems likely to retest the 310 Jan. top. Maybe not tomorrow though. After that some correction most likely.

Increased volume and buying is a good sign but bear in mind that bear market rallies can be both strong and deceptive. Short sellers do take their profits regularly just like those being long. So, there´s always the possibility that a good chunk of the volume is covering before the next leg down. Or maybe the shorts are getting cold feet. It´s difficult to say, only time will tell.

It's so close, touching 295 in the last 24 hours. Not sure if you are interested in trading though if you are visit www.coinarch.com and use Kimba as the invite code for free brokerage for 7 days.

Very true - this thread might see it pass the 300 mark! :-) It seems so close to #00, touching 295 in the last 24 hours.

Not sure if you trade though if you are interested visit www.coinarch.com and register using Kimba as the invitation to get free brokerage for the next 7 days. Good time to go loooooong.

I do not agree. Bitcoin at $230 was a great time to go long with leverage.
You don't want to go on leverage this late in the rally.

You were right, we are so close to $300! If you think the bitcoin price will continue to rise you should trade using leverage. If you're keen to trade register at www.coinarch.com using Kimba as the invitation code and receive free brokerage for the next week.

I think you might be correct. Great time to go long if you think it will surpass the 300 mark. Visit www.coinarch.com and use Kimba to receive free brokerage for the next week. :-)

You were right, it might need a couple more days. Great time to go long with leverage.

Having seen a few rockets in BTC before, there's no way I would classify February and early March as a rocket.  It's been a relatively healthy upwards trend which is significant since it's been more than a year since we've seen a month or more that weren't bearish.

It's more like the slow welling-up of a distant wave.  Things will get choppy soon.

3x 24 hours past and still the price hasn't gone higher than $300. finally the rocket to the moon ran out of steam. but i think it is going to lift up again, but it is gonna stay around this price for some time.

its already a week with same prices generally after this, prices goin down or up around %20. right now it just await a news. if its good definetly it will stop by around $310-320 otherwise im waiting $225-250

Very good explanation, and i agree with most of it, but the part that causes rise up in price is mostly news-related, and in this case the "whale" is a bunch of small traders that trade in a similar
pattern. The ones that can move the market on their own are very rare ones,and with passing time they are vanishing.
Also, the increased interest in bitcoin trading led to increase in volume, so before u had people mass selling mostly after a very sharp rise, because they needed alot of space to fill their sell (volume),
and now those people can dump their whole stash much more efficiently due to higher volume.
I agree that we will see 300+ in a matter of days if something doesnt change in the meantime, maybe its taking long because of that psychological border of round number 300.

cheers

Good analogy and diagrams

maybe soon.  We may be breaking out.

It is not rocket science why markets move, but it seems like it listening to some of you. Volume moves price. Big volume (by whales) moves the price big time. They are usually the only reason for price changes, and you can see it right on the charts. The volume bars do not lie, except on no-fee Chinese exchanges. Even then, it is still relative.

If coins for sale (let's call it "floating supply") are removed from the market and demand remains equal, the price will rise. Conversely, if floating supply is introduced into a market (as it always is at market tops) prices will fall as there is not enough demand to meet it.

Think about market crashes: Panicky, high-volume, despair-laden market crashes. Why do they not crash further? Because of buyers. This is logical. Do these buyers hope to sell at prices lower, equal to, or greater than current market price? Greater. Also, logical. Sometimes much greater if the buyers are part of professional syndicates. Crashes allows them to accumulate a huge amount of coin at rock-bottom prices while the herd panics and sells. As "floating supply" decreases after a crash on high volume and demand remains the same, gradually the market begins to act bullish as it is today. Also, logical.

"But what about the DPR auction coins?" you ask. The answer is simple. Even if dumped on the market today (which is highly unlikely), they might move the price a little, but because whales are bullish they will absorb the selling. They get to move the market, not DPR auction winners, and will easily support certain prices levels if need be. It would be an opportunity for them. Also, they can take the brakes off the market and push it very high, which is what they will do in the future, and less floating supply makes it easier (and cheaper) for them to do this. Higher prices will attract more attention from the media, and eventually the herd will begin buying again, as they always do and always have done when presented with an opportunity to profit.

To answer the question, YES, we will see $300 soon and higher, we are already on our way. The crash has set us up for it by removing a great deal of floating supply. Whales and smart traders have been accumulating this whole time and in the future, after the price mark-up, will distribute to future weak hands as the cycle begins again.

more than 24 hours passed and prices refuse to change

bah

I wouldn't count on it. It's quite stable around 250-275 for weeks now. What makes you think that this will change on such short notice?

HODL until the end. Buy shit. Live long and prosper. Yadda yadda yadda.

Well bitcoin didnt surpass 300 and is currently sitting around 275.

In my previous analysis, I briefly discussed the bitcoin market’s bearish corrections. I mentioned the high buying pressure in the 260-267 area, a factor that played out during the weekend trading session. The bitcoin price tested 268 successfully as its temporary support and pulled back from its prevailing downtrend by a small margin. It is now consolidating within a notably stiff trading range, while the market’s volatility seems to be decreasing. Read on for our daily bitcoin price analysis.

March 7th-8th Bitcoin Trading Session

After successfully floating above the 268-support area, the BTC/USD opened near 277 during the March 8th trading session, while testing the next upside risk near 280. As you can see in the chart below, the low volatility squeezed the Bollinger Bands together. During these hours, the bitcoin price touched 280, though this didn’t last long with the price quickly pulling back towards the south. Traders appear to be exiting near the 278-279 mark.

At press time, the BTC/USD is attempting to float above its daily moving average near 275. The market is still in its correction mood and thereby consolidating in absence of enough buying/selling volume.

What to Expect Today?

Whenever the market encounters tightening of the Bollinger Bands, the price has faced $10-15 breakouts. As for now, the price is clearly refusing to break the support near the 265-267 area, while setting its bull target near 280. This is a new consolidation area we are expecting if the BB’s continue to squeeze.

The technical indicators meanwhile are suggesting a near-term bearish correction where the price once again targets the 268-270 area as its next support. The last two green candles are visibly thick,  indicating the marginal difference between the selling and buying orders. It’s also worth noting that the RSI is positioned in the neutral area, while the market is near 52. The MACD blue curve, despite staying in a positive territory, has its head below the saffron signal curve.

Once the price retests 270, or before the psychological support near 275, the price will once again move towards battling the 280-resistance which, at this time, will hold price to create any further bull targets.

It would be best to exit the market near 279 if the current situation is considered. On the downside, a stop loss near 268-270 area will be a good trade.

Conclusion (On Daily Charts)

Current Mood: Bullish
Moving Averages: Buy (11 Buy 1 Sell)
Technical Indicators: Strong Buy (10 Buy 0 Sell 1 Neutral)


See my blog here: https://www.coinarch.com/Info/Blog?Page=2015/03/daily-bitcoin-price-analysis-8th-march/

If we keep this thread long enough it just may happen, right
To me it seams that there is too much resistance to go lower, so the obvious thing that should happen is to go up, these good news in the last month or so also pushed us alot.

cheers