matthew.khama
Short

BITCOIN TO FALL TO BELOW $100 SOON

BITSTAMP:BTCUSD   Bitcoin / Dollar
1211 19 3
As labelled in the chart, the rise of bitcoin from $149 level is clearly corrective. I therefore expect a strong down-move in bitcoin to below $100 soon.
Trade active: Expect further fall in bitcoin as described earlier.
Trade active: Following up on bitcoin. I expect a rise to $691.00 levels before a strong continuation down. Chart later. NB: I maintain the view that bitcoin should drop to below $100 soon. After that expect a strong re-bound to above $2000 levels.
People should not mistake me when I call for bitcoin to fall to below $100 apiece. The fact is, when it gets there, you WILL have the chance of a lifetime to accumulate as much as your pocket can allow. And after that, expect bitcoin to rise tremendously to $2000 and beyond. Patience is key in the market.
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4ley matthew.khama
Please provide even a single reason why btc should drop to $100.
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4ley 4ley
.. and than rise.
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metroid is that you? youtube webbot, btc "does not like to be in the 1000s", meaning when we hit 1000, we jump to 2,000. 2,000's could be the top, but then the webbot suggests 14,000 by 2017, so this may not be a bubble this time but the beginning of the long term valuation.
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Haha nice one, clearly we're forming the second shoulder right now head-and-buttocks pattern. We're heading straight down soon.
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There are actually people on here doing serious, straight-faced TA and concluding that Bitcoin is due to fall back to the $100 region. The problem is that they're just looking at technicals.
+1 Reply
matthew.khama DrGonzo87
I rely on Elliott, and nothing else.
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DrGonzo87 matthew.khama
So have you factored in fundamentals like the growth of the Bitcoin network, block reward halving, Segwit/Lightning Network and so on? Throughout 2015 whenever BTC dipped below $200, it never stayed there for more than a day. Yes, it would be an incredible opportunity to get Bitcoin at $100 again but I don't see it happening unless some catastrophe hits.
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matthew.khama DrGonzo87
You should read up on Elliott Waves.
+1 Reply
DrGonzo87 matthew.khama
I know a little about it, but there's certainly more to the price of Bitcoin, or any other commodity, than technicals.
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