Convinced we are at the top thanks to fibonacci levels. Could bounce around below 5k for a while before it really starts falling, but I think we're at a turning point.
Komen
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I think the official top will be somewhere between here and 4550
People finally realizing no sellers results in higher prices. Look at the amount of BTC on sale order books in Polo. Never been this low this long.
ampatrick4
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@theaccic, Your falling into the trap, forgetting that Bitcoin is largely manipulated. Everything can change in just a couple of hours. Expect the unexpected. The people manipulating the market don't make money off the price only going up. They most likely loaded up around 2600-3000 and will dump it back down to 3000 or less to refill. That's how it works. Bitcoin could fall $500 in one day, then people think it's the bottom or maybe the price bounces $100 forming a bull trap, then the price falls for another day, then another day. People lose money and the people manipulating laugh and make money. It will most likely happen.
Its kinda like how we dumped to 1800 and there weren't alot of buyers, then out of nowhere, everyone was buying. Its a switched that is flipped on and off. Remember, everyone that has bought since 2700 is in profit. Everybody wants to close in profit. If we see large sell-offs, people will panic and sell as well, because they want their profits. No one is bag-holding or underwater right now. And once sell-offs start, people will start shorting it to get even more profit, all the way up until the switch is flipped the other way. Which could be as low at 2500.
Klaabu
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@ampatrick4, Are you having a laugh? Do you realise how much it would take to manipulate BTC to those levels? BTC will no doubt fall to around 3500, that I'm sure, as is the case of corrections in this market, as it is in others. But to suggest it'll drop to such lows.... I'm so tired of those talking about manipulation. Yes you can manipulate many coins and many stocks, I've seen it done, but the volume to do it in this market right now is just tin foiled talk. By all means sell up and move along. In fact I'd even suggest selling at around this mark, but certainly buy back in, in the mid to high 3000's.
Klaabu
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@Klaabu, My bad, misread and thought you said down to 500$ :D But I stand by my point on manipulation.
ampatrick4
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@Klaabu, I agree to an extent. But my target re entry would be around 2700. Good dip already in the price and sell volume is picking up. Should see a bounce around about 3500's but it will be a bull trap
Klaabu
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@ampatrick4, Yeah possibly. 3000$ is a very good support, but this is a very young market and it has a lot of people with no trading experience who think that if they're not making 1000's in a few weeks/months then they start to make bad mistakes that could affect us all. The more big market money that comes in the better.
Vilius_
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@Klaabu, So we dip from 3000 to 1800.When we reach 1800 were just going down wiht low volume , we bounce with no volume to 2100 and then everyone start buying above 2000 because reasons. When you see volume of billions a day in cryto trading world dont think that the players with millions of $$ who buy and sell to themselves pay fees.They are provided 0% percernt conditions because they give liquidity. bitfinex has admited to trade themselves.I wonder if it has anything to do with with bitfinex leading the way on that 2000 volume bull run with 200 btc buys. Oh and they have their own non audited currency that lets people buy btc.And another coincidence is that "institutional investors" are comming to bitfinex after they have been hacked and removed from US banking.Why would you invest with bitfinex theres loads of exchanges that havent fucked up.Oh and they got over 300 million in investment in the recent month??? Wow , its like they didnt get any investors and are just printing fake money and buying real bitcoin.
Get of your high horse. Things are not simple. You are not in control. We are not in control.
Klaabu
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@Vilius_, When we dip to 1800, get back to me.... With your attitude and understanding, I'd not be trading in any market if i was you. I've been in this for 20 years, seen it all.
Vilius_
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@Klaabu, So if you traded 20 years explain me how theres no heavy volume support on 1800 but theres heavy support at 2000. Sounds odd. Bitcoin can go to 100k on this run i dont deny it , everythings possible with fake money. But when everyone wll run to the exit some are going to leave with real money and some will have a big fat 0.
Btw if you anwser with "i have experience thus i understand stuff" instead of "here are your arguments and thats why they are wrong" youre already bias and not using the best tool you got - your brain.
People finally realizing no sellers results in higher prices. Look at the amount of BTC on sale order books in Polo. Never been this low this long.