Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
strawbs
on 04/01/2017, 09:41:31 UTC
This is crazy guys, this rise is parabolic. Don't you think it need to come back down and floor out.
Like how high can it possibly go before crashing? I think its now so I sold all my btc besides a few for investing with and I'll buyback in at $800 in a month from now.

Cheesy

Unless, of course, we never see $800 again  Shocked

That's very possible too but I think its likely to happen. What's your take?

This just feels so much like 2013.  Back then, "there had been an ATH of $266 which had hung around for a while, until the bull run which eventually broke through it and took us to the current ATH of $1175.  That was a rise in the ATH of 442%. If the current ATH were to break through this time, and rise by the same percentage, that would lead to a new ATH of $5194" [pasted from my post a few days ago].

On the other hand (even though I don't really think TA works too well with btc), we could be seeing a classic cup and handle pattern forming between Nov.2013 and now: http://www.investopedia.com/terms/c/cupandhandle.asp  In which case, we could expect to see the price go up to c.$1175, then drop to between 30% and 50% of that ($587 to $820 ) as traders begin to doubt whether the ATH will be broken. Then a bounce back to beyond $1175.

In other words, I think it'll reach $1175, then it could go up or down  Tongue



What is the real ath, technically and psychologically? I guess Gox ath is the ultimate test, since coins did change hands at that price.

Gox ATH was $1,242 if I remember correctly. I plucked $1175 from current Finex charts. I think the latter is the psychological ATH since many may not have been around in 2013 and will look to Finex or Stamp. Or maybe ATH on Chinese exchanges is the more important one these days?