rjclarke2000
Legendary
*
Offline Offline

Activity: 1288
Merit: 1009



View Profile Personal Message (Offline)

Ignore
June 17, 2017, 01:04:09 PM

Good to see that the price has recovered well after the recent dump, lowest I saw was in the $2100's range. We are now up to $2540 on Bitstamp so the question I want to ask is who are the weak hands who sold at the bottom?

Yep I was thinking that we were going to have one more leg to the dump (correction), and in the past 12 hours or so, I have becoming a bit more inclined to believe that there might not be a third leg.  We just got two legs.

Also, I do not sell on the way down, I buy, but since I thought that there might be a third leg down, I held back a bit on buying as much, just in case.

We are not out of the woods, yet, so we could still have a third downward leg, but the odds seem to becoming less and less especially given the seemingly pretty decent onwards and upwards buying pressure, and if we get above $2600, then it going to seem pretty probable that we are back on track to test $3k.

Actually, it is going to be a bit difficult for this week's candle to turn out green.  In order to close green, we have to be above $2,960 at midnight GMT.  What are the odds?  less than 30%?  I wonder?  Would be pretty bullish if this week's candle ended up green, no?

30% I think is very high. I'd say more like 5%

Hahahahaa..   I understand that you want to be conservative in your estimations, but

What a pessimist!!!!
 Tongue

I could give you 15% or 20%, but 5%?  I know that you are not a bear, but isn't that a bit too low?



Yes you are correct I am no bear JJG. Maybe I will meet you in the middle then! Basically I can not see it happening in that short timeframe that's all.

I am excited to see where we are going the second half of this year though!