Quote from: 1Referee on January 06, 2019, 11:13:12 PM

Quote from: TravelMug on January 06, 2019, 09:28:40 PM

But the real problem today is that speculators are just shorting bitcoin. Just look at the price today, there's a sudden spike from $3800-$4K but as soon as it goes for as little as $4100-$4200 again, we will see another sell-off.

That actually lends itself for a perfect counter move. In most cases, when the average joes of this world start to figure out that something is repeating, and there potentially is money to be made by shorting just below or around the resistance level it has failed to break through before, it won't work anymore. We'll have to wait and see if that is indeed the case this time.

Yep, that's the best thing we can do, have a wait-and-see attitude before making our move. Shorting might be good, but at the long run we might see momentum shift, so let them play the game and when the time comes (bullish trend), it will be a new ball game again .

Quote from: 1Referee on January 06, 2019, 11:13:12 PM

In the end, even if it does break out to the up side, there is not much to celebrate considering how far below $6000 we still are. It's going to be incredibly difficult to break that level, but if we do, that for me is a clear indication that we have bottomed out for good.

That being said, I don't mind it to sit below $6000 for a longer period of time, which means more bang for my buck as I dollar cost average into the market. Buying Bitcoin today isn't the same as it was below $1000 some time ago, so you have to carefully time your buys.

Me either, actually when I see the price trading sideways at $6k-$6500, it was a good indication that we might see a break out run prior to the end of the year. However, some things are really beyond our control, like that CW idiots who causes the price to drop significantly.