Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
ivyleague1985
on 25/01/2015, 17:50:53 UTC
A pull back to $sub-240 is not only plausible but also healthy. I think we will test $240 today.

Sorry but there is nothing healthy in falling price, especially in bitcoin world where price is vital for its expansion. Only healthy thing would be stable growth, not volatile prices like now but ofcourse that would be not fun so nobody is interested (except people who are actually doing something useful for bitcoin economy).

The reason a mild pullback is healthy, because we are gapping up all the way from $23x to $259. We need at least two sizable pull backs to release the bearish steam. After that, the price will have less pressure to climb higher.

The pullback from $259 to $245 is the first attempt by the bears, and an equivalent second attempt (forming now) will potentially drag us from around $250 to $235-240. Once both attempts failed, bears will give up the $240-250 territory and we will go up much easier.