I personally think this was another panic sell because of psychological rejections @ 3000$ . I Also don't see prices holding this low and they are very unlikely to drop any lower then major support in the fibonacci retracement and pitchfork at 2600$. More updates coming the mothership is still flying high!! :)
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Picked up a entry in the dip today. Still very bullish bitcoin
If we look at higher TF's i think we are already seeing signs of the blow off phase.
Clearly btc can't go up for ever, i'm a long-term (yearly) bitcoin bull, but right now we are screaming for killing all the irresponsible leveraged longs
Ir you want to check my technichals to support my opinion, check this.
JosephMoss
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Long Term Bull. Been holding since 400USD. You're not going to see a major drop until the 50 day MA is violated and then the 200 day MA or a dead cross of the two. You will see fluctuations. If you are looking to buy, keep buying dips of 10%-20% or follow a good chartist and get in at lows. Don't sell and hold for years. I would not say this for other alts, as those are trading vehicles, but BTC is long term.
Just a 50 year trader making his honest opinion.
sergionero
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Where are your pitchfork starts?
I can not draw the same lines.
kevindixon
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Thanks for your charts. I bought some more BTC near today's low.
kogan4ik
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What do you think, it's a good idea to buy some bitcoins
masonrex
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Watching alot of the other coins drop in value yesterday it seemed they dropped in price/btc as btc rose the 300 points. Today I'm not seeing any similar relationship with the btc drop. Any thoughts on this?
TheTrex
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This is the holiday sell off, many noob/new traders will reside for vacation and take good profits here from the longterm bullrun. Expect lower prices for BTC till end August.
kevindixon
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@TheTrex, I don't think most people go on vacation for the whole summer like a college student.
bulk3375
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STOCHRSI(14) on 5 hours chart is oversold... in my opinion, i don't think this is due to the psychological rejections @ $3000 but on the jump on ETH, i see people selling BTC to buy ETH
UnknownUnicorn942585
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i dont agrree btc isnt oversold not even nearly oversold first of change the timeframe between 1day - 1 week before you make a decision about oversold
Clearly btc can't go up for ever, i'm a long-term (yearly) bitcoin bull, but right now we are screaming for killing all the irresponsible leveraged longs
Ir you want to check my technichals to support my opinion, check this.