I'm probably not going to gain any new Bitcoin friends with this perspective, but the Bitcoin chart looks like a classical bubble to me. I'm bullish on Bitcoin long term, but the surge to $2750 was just insane. Corrections will always come.
Look at the similarities in these 2 charts.
Bitcoin 4H chart
How a classical bubble forms
I expect a sell off to the $1500-$1600 levels. This is were I have put my first buy orders. When I look at a daily chart I'm not surprised if we go even lower. I have my next buy order at $1300, the blue line in the chart below. We might even hit $1000 if there's real panic. This is Bitcoin, everything is possible! That would be a great buy opportunity.
Bitcoin Daily chart
A lot of volatility. Happy trading guys! :)
I was planning to sell to USD and lend to Poloniex, my timing is worse, I'm blaming sleep.
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After I have joined Steemit:
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I've seen these pull backs in price since 2012 and today is no different. Bitcoin will be up big time again in 30 days. I Think it will hit 5 to 6k by years end.
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its good and healthy to have a big pullback. We need it, bitcoin needs it, like taking a vacation after working your ass off on a project.
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Agreed.
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Pop goes the bubble. Maybe $700, $500 . . . $3 bitcoin is on it's way! Whoohoo! $3 bitcoin is my friend.
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Great post , cryptocurrency is the most volatile market theres ever been and yet the overall trend is overwhelmingly up, buy and hold strategy is uneffected by the short term ups and downs so this drop means very little to the long term future of crypto. The future is still as bright.
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Definately agree with this going to be waiting to invest anymore into crypto want btc to drop a bit further and I want to try to purchase 2 coins. That will be my goal is save to up about $2800.
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I have studied market crashes since the 1980s. I definitely agree with you.
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These corrections are only opportunities to buy, hopefully we can buy as cheap as you can. Greetings.
estas correcciones solo son oportunidades de compra, esperemos poder comprar tan barato como apuntas. saludos.
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If i would speculate, my largest "buy" order would be at ~ 1350. And a few smaller in between 1400-1800. BTW i am very very bullish on cryptos. Very bulish.
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Great example, feel a bit sorry for the East paying $4000 a coin the other day. I would think they'll be waiting 4/5 years to see profit?
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...Better than the dollar lol
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Ride the WAVE!
:D
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i would hate to say but I do agree with you.
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Probably a solid buying opportunity. Volatility mean uncertainty and uncertainty means people are going to be looking to put their dollars somewhere.
Cheers
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As everyone is saying bubble, I am convinced there is a bubble.
Still HOLDING though!
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Still looking forward to all next bubbles that will be a collective rise of the bitcoin phenomena.
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considering classical charting techniques I will call it a bubble. But considering the LAWs of supply and demand I will call it BTC taking a breather.
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When was the last price bubble happen?
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Too much false hopes on the value of crypto currencies. My thoughts exactly in my latest post
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It's not a bubble, @penguinpablo
https://steemit.com/bitcoin/@lighteye/bitcoin-of-coins-and-bubbles
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This is a minor correction. it will stabilize at around 1500 until the end of the year while ETH climbs back to 300.
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Yes, indeed, the similarity to "classic bubble" chart is stunning.
IMHO, it all is just a regular, expected & logical correction, easy seen by simple TA lines. The next support level, where , I hope it can catch a new bottom, is around $1600
Where I really would probably start to worry - if it goes significantly below $900, and stays there for long time (6-12 month)
So stay calm. And keep your funds for a more cheap buys :)
There is time to buy, when blood is on the streets. And looks it is now...
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it is an opportunity indeed!
chill :)
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#cashishdineroyolomotherfuckers
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