I really hope you are right, with any luck it'll rinse out to it's pre-bubble 3000 resistance level. In which case I'm buying back in and then strapping back in, for another ponzi moon ride!
Thedirtycat
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@Kemistry1, Apart from if its a ponzi when it fails it wont go back up ...
AryanRehaan
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Agree with you bro !
Captain_Walker
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The 4H may indeed dive south. How far is another matter. The overall big picture at this time, seems to be rejection of the 6100 - 6250 level. The reason why the overall probability is north resides on the monthly time frame, which few people every look at.
The picture is there for everybody to see. It is the same picture. What the mind does to the picture is up to individual minds. People who have sufficient funds and patience, are gonna be the big winners in this.
LankyJay
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The only problem I see with this analysis, is that the cost to mine a coin is about 6k. Miners make up the majority of the the seller market, I dont see them letting the price dip to much further past 6k. Who knows tho, maybe whomever hacked Mnt Gox will dump on the market like they have in the past and drive the price past this 6k support. Im on a long term bull myself.
Kiljayden
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How can we report this @AlfredoCollado
Nuggy1980
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Whatever you think about Bitcoin, its clear that you don't understand what a ponzi scheme is.
Thedirtycat
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Another person that doesnt know what a ponzi scheme is...
BTC fits the exact definition of a ponzi scheme. Here is a Merriam-Webster interpretation.
Ponzi scheme noun
Pon·zi scheme | \ˈpän-zē- \
Definition of Ponzi scheme
: an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks