I believe I was completely wrong and this will be a zigzag after all. The failure of making a higher high means we will see sub .02
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Tradingisparty
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Excited to see if you are right.. Might be..
DanRoth
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you change your charts every two minutes.
BuyBitcoins
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Fair comment. Sometimes wrong is wrong and one must adapt. I wouldn't go as far as saying changes every two minutes. I do update often, but typically those updates are just minor details. This however is a big structural change/interpretation.
DanRoth
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Fair enough. It just seems targets keep changing drastically. I say that because I agree with half the chart. I think it will go close to 200 and bounce into a rally. I highly doubt we break below. That kind of crash right now is something equivalent to the drop in Valent Pharmaceuticals shares; there just isn't any external, fundamental indicators to support such a crash. My humble opinion. Apologies for the snarky comment.
MinimaNode
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Yes but when you look at the kind of shake out bitcoin had in it's early illiquid days....really anything is possible. And technicals aren't at play here so much... super whales are....and they want the whole world to think this this is failing so they can scoop up all the cheap ether before the next pump. Example: One of the first bitcoin bubbles on BTC-E the price went from a high around $12 and crashed down to $2... between Aug and Oct 2011. A similar shake out to 1/6th the current high here equates to us seeing prices around 0.006 again. Just saying....
DanRoth
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I haven't looked at it that way. So really it's anyone's guess with powerful whales at play.