How low can Bitcoin go? Answer: Very low. First resistance is at $192-$196.
--- 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! www.youtube.com ---------------------------- I was very bearish, but I'm not anymore since we finally had a massive...
The uptrend has broken down almost completely since I got bullish 4 days ago: and fixed version
The Bitcoin value might decrease further in the year 2015. Here is my best guess if I were a whale in the market and had a masterplan :)
UPDATE: The price moved below the red resistance lines and then crashed down one leg further. The Bitcoin price is starting to go up right now. Last version (see here ) I had the long entry accidentally moved to much into the future while posting the chart, so I guess I won't win bullseye of the week anymore ;-) I expect an uptrend if the price stays above $280...
UPDATE: The price moved below the red resistance lines and then crashed down one leg further. The Bitcoin price is starting to go up right now. I expect a bounce if the price stays above $272 on Bitfinex. I have put the entry of the long into the future, meaning the trade should only be started if the price has stabilized until then. **** I originally wanted to...
One Year Fibonacci First Support (S1) Pivot Point For 2015 is $255.29 Last Bitstamp low: $255.00 Price when published: $268
Could be a intra-day short-term bottom here at $299-$300 for the next 24 hours and good enough for a bounce. In case you don't know. You can go 50x leveraged short or long on the Chinese 796 Bitcoin exchange.
Summary: Expect falling prices. The BTC price is below the monthly S1 pivot price and the slow MACD with settings three month moving average compared to half year moving average is also starting to show a downtrend with the first red bearish bar, while the faster one month compared to two month moving average is still bearish. The 10 day vs 20 day moving averages...
The long-term downtrend was getting less strong / weaker and the short-term uptrend was stabilizing. -- Chart published: 5pm UTC Sunday, December 21, 2014
What happens if Bitcoin does NOT drop down further and $304.99 holds as bottom on Bitstamp? Here is the most bullish scenario I could think of. If you think this is too bullish, please look at my bearish chart scenario:
What happens if Bitcoin drops down further in a fast flash-crash when $300 and then $275 doesn't hold? Here is the most bearish scenario I could think of. If you think this is too bearish, please look at my bullish chart scenario:
UPDATE: The price didn't stay above $315 for 24 hours as I mentioned as rule to enter the trade. Instead the price flash-crashed a few hours later down to $304.99. This renders my entire "bottom trading" idea posted here invalid. The goal of this bottom trading strategy is to avoid risk and therefore the trade should only be entered if the price stays above $315...
The mainstream press like CNN, Bloomberg or The Guardian thinks that Bitcoin is dead by simply comparing the price change from December 2013 to 2014. Bitcoin is far from dead, but there is a risk of a new downtrend if the price falls below $315 - Bitcoin Bears Say Told You So As Digital Currency Falls (Bloomberg. December 15, 2014) www.bloomberg.com - Bitcoin...
As explained on the chart the goal of this breakout strategy is to avoid risk and therefore the trade should only be entered if the price breaks above the last high of $386.60 on Bitstamp, because this is the last and most important signal to confirm a new uptrend. (Please zoom in to better see the candlesticks). Maybe this chart helps new people who are starting...
With my first "keep it simple" chart I was a little bit ahead and drew the trend lines at that early $389.99 peak a day before the final peak of the rally happened. Here is the update using the final peak of $395.11 plus more lines as guidance. There is an interesting cross of the trend lines right at the start of December where I would expect the rally to...
--- UPDATE --- PLEASE USE THE UPDATED VERSION OF MY CHART: www.tradingview.com ----- $389.99 could be the new resistance on Bitstamp. The current price is $380.00. Bitstamp is also having serious technical difficulties today.
Very very high risk, but it could turn out that this was the lowest price area after the second rally peak at 453.92, therefore I publish this chart to be able to claim that I forecasted this bottom area :) Part I () Risk is 90% and chance is 10% that this here at currently $355 is the bottom based on current chart data. Especially look at my chart "Bullish...