Is this the August Bitcoin bottom before the next rally to 1000?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
640 15 5
$442 could be the bottom if the price breaks above $500. Otherwise we can only test $450 one more time or face a large downtrend.

Stochastic in the daily chart shows that we are at a bottom area and could go up from here.
Nice, thank you for sharing, also check this moment: :)
yes and everyone will buy buy buy till 1000 and then will loose thier money again
give me a break....
ppl are greedy but not stupied they learn from mistakes and now we are going to stay in this range for at least a month, two or more
I didn't say that we will reach 1000 in August or September. Maybe in December if we stay above $400.
+1 Reply
The problem is: Where is our catalyst? We have nothing that can actually catapult us to the next high. The ETF looks promising, but we will have to wait and see. Technical rallies can only take us so high before they fall back to earth. As seen in the 450 - > 680 rally.
ChartArt ItisCalvin
A shift in sentiment. As soon as the price goes up again, people get more and more bullish again.

We have now basically fallen and fallen and fallen with the price since June 1 from 683 US Dollar.
ItisCalvin ChartArt
True, but a bubble built entirely on sentiment won't last as long say as if there was some worry the EURO was going to crash and burn.

Take a look at the last bubbles. I know the early 2013 was caused by Cyprus banking crisis. Speculation the one after that was actually the government shutdown worry at first. China speculation took the reigns after that.

What I am saying is that a rally based upon nothing but sentiment can't get us far. We would need more fuel in the fire to send us up really high, say 1500. It is possible to move purely on sentiment. However, without some sort of financial crash or rumor how far will people go? We will be recycling the same set of investors as before. There will be a point where many feel like they want to cash out at, suppose, 800 because the lack of any rumors.

We need something that will get a LOT into Bitcoin in a short period of time.

Buy the rumors, sell the news.
ChartArt ItisCalvin
Circle will launch soon, at least before the Winklevoss ETF.

And Circle is targeting the mainstream user. Every user who will sign up will get 10 US Dollar for free in Bitcoin. Here is a video interview with the founder of Circle:

And demo

- Circle: Bitcoin's Mainstream Moment
Mirandole ItisCalvin
A big correction of S&P and other correlated stock marckets could be your next catalyst.
Best Regards,
+1 Reply
there should be a vote down button too for us that arent trapped in longs.
-3 Reply
ChartArt Melissa
I'm not trapped in a long :) I see potential from here up.
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