Bitcoin has gone up fast in November 2013 and now in early December it might give you an opportunity to buy at lower prices again.
The daily candlestick chart of bitcoin vs. the USD on Mt.Gox looked very familiar to me and convinced me to sell some bitcoins, if and when the value drops a bit, I will buy back more bitcoins.
The high of $1242 from 6 days ago is tested again today. If you look at the MACD-Histogram, you will see that it is not matching the pattern of the price movement, it is steadily declining.
Dont take me wrong, I sold only a small part of my bitcoin holdings as an amusement ride. Most of my position is a long bitcoin one.This is a classical divergence and could be a sign that the bitcoin price is about to drop sharply to $800 or maybe even lower, this is the level of the lowest price 4 days ago.
I will be amused if the drop in price will trigger a media frenzy where they will call it an unstable asset, not suitable as a currency and too risky to use in any way. This may actually help the down movement I anticipate here.
rough a rapid up trend similar to November 2013 to the next level.Later on, the media will neglect bitcoin and it will stabilize around a new level, at the neighborhood of $1000 for a year or less, then it will go through a more quiet phase.
What do you think will happen to the price in the coming days and weeks?
http://chartly.com/bitcoin-ready-for-a-correction/
The daily candlestick chart of bitcoin vs. the USD on Mt.Gox looked very familiar to me and convinced me to sell some bitcoins, if and when the value drops a bit, I will buy back more bitcoins.
The high of $1242 from 6 days ago is tested again today. If you look at the MACD-Histogram, you will see that it is not matching the pattern of the price movement, it is steadily declining.
Dont take me wrong, I sold only a small part of my bitcoin holdings as an amusement ride. Most of my position is a long bitcoin one.This is a classical divergence and could be a sign that the bitcoin price is about to drop sharply to $800 or maybe even lower, this is the level of the lowest price 4 days ago.
I will be amused if the drop in price will trigger a media frenzy where they will call it an unstable asset, not suitable as a currency and too risky to use in any way. This may actually help the down movement I anticipate here.
rough a rapid up trend similar to November 2013 to the next level.Later on, the media will neglect bitcoin and it will stabilize around a new level, at the neighborhood of $1000 for a year or less, then it will go through a more quiet phase.
What do you think will happen to the price in the coming days and weeks?
http://chartly.com/bitcoin-ready-for-a-correction/
$1200 again now on gox
i think there are plenty of sharks in the water at the moment so if bitcoin prices were to tumble from a large dump etc
they would all be snapped up ASAP and start to rise again to $1000+
bitcoin has gotten so much publicity lately people are having difficulty getting money in exchanges to buy any