Price Down, Pick Up!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
375 9 4
--- UPDATE: There is a reason why I placed the long-entry zone into the future, because of a lack of uptrend confirmation. Fail!

After so much selling this can now be a bottom for at least a few days.

Therefore I say: Price down, pick up!


I was very bearish , but I'm not anymore since we finally had a massive wash-out of weak hands which cleaned up the market. I mean I'm now bear since July/August 2014. All the bullish scenarios I posted were just scenarios and I wasn't a bull. Back then I didn't expect that people think I trade everything I post. And I couldn't have known that Tradingview integrates a feature showing where you marked a chart as long or short, that's why you see some green triangle dots on the chart above. Now I post chart as neutral when it's a far fetched out scenario I'm not actually believing in.

I began to be a bear several months ago when the price dropped below $610. This was when I posted this chart below. My lowest expectation was $400-$450:

To keep it realistic I thought $450 will be the lowest low:

Then I told you here in the summer that Bitcoin             is doomed, adding also lots of charts in the comments, but the reaction to all this super bearish information was almost zero, some comments were even downvoted:

And my "One Secret Chart Of Bitcoin             Bulls" chart was actually a joke. I originally wanted to change it to show how bearish the chart is, but gave the bulls a last chance to show their power, because the bear trend was still so tiny back then on the grand scale of things. Obviously the bulls lost.

I then got so bearish that I looked for a very low price target and ended at the nice number of $333. As we know today even that low price target was not low enough:

And then Bitcoin             didn't bounce where I hoped it would at $450:

So I became super bearish and posted:

"The Bitcoin             Economy Is Collapsing With No Sign of Recovery"

"Why Bitcoin             might crash to $85-$110"

"The Bitcoin             Bears Are Back"

"Suspicious. Bitcoin             misses Christmas?"

"Take Care: More Bitcoin             Bear Scare"

When is enough, enough?
Related idea by SPYderCrusher: "small claiming victory chart, target hit"

Related idea by alste: "are we about to witness a miracle"

ChartArt ChartArt
alste also posted:

"bfx above long term support and bouncing of channel support - double support. high probability trade to go long here"
Related idea by RelaxIKnowWhatImDoing: "This might just be the perfect bubble in the making. "

Related idea by user100000: "primary wave 5 target"

Related idea by ioxoi: "Any Bitcoin correction is at least 50% the previous maximum and corrected by 3 waves."

From psych signal: (sentiment gauge)
121.43% less bearish compared to a 1 day average.
232.35% less bearish compared to a 7 days average.
246.15% more bullish compared to a 30 days average.

Today's sentiment is 61% bearish and 12% Bullish. Will we have to wait and see how the Bitcoin world reacts to this weeks price decline. Beware of Bitcoin miners stepping out.
ChartArt Rashad
If everyone throws in the towel now, we could go down to $100

Looks like a bear flag.
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