4 reasons why Bitcoin has bottomed out - page 3.

Tungsten-1

sr. member

Activity: 994

Merit: 256

Quote from: pamsugas on October 19, 2019, 04:08:53 AM

I agree with you that bitcoin will not fall from $7500 because when the correction in the bull run market bitcoin has never fallen from 50% and currently bitcoin has touched a correction of 44%.

I think in the next 1-2 weeks bitcoin will come back at $ 10k

Bitcoin has stayed in dump for long time and it is evident from little increase in its value that soon bitcoin will be set on track to reach sky in context of prices and this is the sole reason why number of bitcoin buyers is increasing day by day. The soon we investors start buying bitcoin, the fast it will be seen on heights of new prices.

zeze18

sr. member

Activity: 938

Merit: 256

Quote from: pamsugas on October 19, 2019, 04:08:53 AM

I agree with you that bitcoin will not fall from $7500 because when the correction in the bull run market bitcoin has never fallen from 50% and currently bitcoin has touched a correction of 44%.

I think in the next 1-2 weeks bitcoin will come back at $ 10k

Hope this will come true that bitcoin will recover in one week or two.
But we can't rely out analysis to history, no history recorded before bitcoin pumped to 20k in 2017 and also no history recorded bitcoin dump in 2018. So we have to be careful and always set a stop loss

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: leowonderful on October 19, 2019, 08:50:59 AM

Still a decent price to be dollar cost averaging and accumulating in anticipation for a future move upwards.

Still? It's a fantastic time to dollar cost average! Every lower price you buy at means more satoshis that you can scoop up. I can assure you that dollar cost averaging feels MUCH better on the way down than on the way up. It's the only time where fiat is gaining purchasing power, so why not utilize it to the best of your ability before that opportunity is gone again? Tongue

Quote from: leowonderful on October 19, 2019, 08:50:59 AM

At the very least, we are making higher lows at the moment on the daily, though not by very much.

Also lower highs, which means that the range within the price can freely move will tighten and lead to a larger breakout.

qumatru

sr. member

Activity: 322

Merit: 251

Quote from: redsun114 on October 19, 2019, 11:06:15 AM

Quote from: zhekinsp on October 18, 2019, 11:19:41 AM

Quote from: Chaintrader_1 on October 13, 2019, 03:47:55 PM

Hey guys,

I really do think Bitcoin has bottomed out right now.
1st we haven't seen any close below the weekly EMA and it acted as support
2nd Correction of 45% one of the highest ones so far
3rd Bullish divergence on the weekly chart
4th triple bottom reversal pattern

For my complete analysis check my YouTube video : https://youtu.be/XUyoGTJH8FY

But it doesn't yet,we faced dump after this post as well and chances for more dump to hit $7000,any new analysis after that dump?

That dump is a minor dump and it is too early to start judging it by what the op said, the value will definitely still rise back, the bulls are really keeping the market stronger, I know that there has been many people predicting that bitcoin will still bottomed more at $6000, anyway, we are still hear watching if those who predicted it will be mocked, or it will surely drop down that low.

If it drops, it will still be another point of investment for many people, because this could be the last $6000 we will actually see again after which the next price action will be bull run, this $6000 drop could actually be the bull run point that some analyst are greatly waiting for as a catalyst to the next bull run we will have and I am suspecting it also because I am also planning to buy at that $6k, so as other are too.

We all are well aware of the fact that bitcoin is going through downfall at the moment and we all also know that the rise comes in the last month of the year or so. So what else can we expect from bitcoin and whole digital market during dip other than giving us a chance to buy our favorite coin at least price possible. Like you, I also think that this is going to be the last time we will ever see bitcoin worth 6k dollars.

NathanJB

sr. member

Activity: 756

Merit: 251

Quote from: qumatru on October 21, 2019, 04:13:47 AM

Quote from: redsun114 on October 19, 2019, 11:06:15 AM

Quote from: zhekinsp on October 18, 2019, 11:19:41 AM

Quote from: Chaintrader_1 on October 13, 2019, 03:47:55 PM

Hey guys,

I really do think Bitcoin has bottomed out right now.
1st we haven't seen any close below the weekly EMA and it acted as support
2nd Correction of 45% one of the highest ones so far
3rd Bullish divergence on the weekly chart
4th triple bottom reversal pattern

For my complete analysis check my YouTube video : https://youtu.be/XUyoGTJH8FY

But it doesn't yet,we faced dump after this post as well and chances for more dump to hit $7000,any new analysis after that dump?

That dump is a minor dump and it is too early to start judging it by what the op said, the value will definitely still rise back, the bulls are really keeping the market stronger, I know that there has been many people predicting that bitcoin will still bottomed more at $6000, anyway, we are still hear watching if those who predicted it will be mocked, or it will surely drop down that low.

If it drops, it will still be another point of investment for many people, because this could be the last $6000 we will actually see again after which the next price action will be bull run, this $6000 drop could actually be the bull run point that some analyst are greatly waiting for as a catalyst to the next bull run we will have and I am suspecting it also because I am also planning to buy at that $6k, so as other are too.

We all are well aware of the fact that bitcoin is going through downfall at the moment and we all also know that the rise comes in the last month of the year or so. So what else can we expect from bitcoin and whole digital market during dip other than giving us a chance to buy our favorite coin at least price possible. Like you, I also think that this is going to be the last time we will ever see bitcoin worth 6k dollars.

The last time I heard that 'last time' phrase was before Bitcoin hovered for a long time over $10,000 and even rose above that. They say, it was the last time Bitcoin will ever touch that 4-digit price. I was happy with them. I was also hoping they were right. And yet here were are at $8,000, just fresh from $7,000. Funny how people are bullish when the price is not. And who would have imagined that Bitcoin would touch $3,000 once again when it already reached $20,000?

redsun114

hero member

Activity: 2730

Merit: 585

Leading Crypto Sports Betting & Casino Platform

Quote from: zhekinsp on October 18, 2019, 11:19:41 AM

Quote from: Chaintrader_1 on October 13, 2019, 03:47:55 PM

Hey guys,

I really do think Bitcoin has bottomed out right now.
1st we haven't seen any close below the weekly EMA and it acted as support
2nd Correction of 45% one of the highest ones so far
3rd Bullish divergence on the weekly chart
4th triple bottom reversal pattern

For my complete analysis check my YouTube video : https://youtu.be/XUyoGTJH8FY

But it doesn't yet,we faced dump after this post as well and chances for more dump to hit $7000,any new analysis after that dump?

That dump is a minor dump and it is too early to start judging it by what the op said, the value will definitely still rise back, the bulls are really keeping the market stronger, I know that there has been many people predicting that bitcoin will still bottomed more at $6000, anyway, we are still hear watching if those who predicted it will be mocked, or it will surely drop down that low.

If it drops, it will still be another point of investment for many people, because this could be the last $6000 we will actually see again after which the next price action will be bull run, this $6000 drop could actually be the bull run point that some analyst are greatly waiting for as a catalyst to the next bull run we will have and I am suspecting it also because I am also planning to buy at that $6k, so as other are too.

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

If anything, I find it likely we're going to have another period of sideways before a potential move up or a move down. We did have a short attempted pump above the 200 MA, but that was rejected and ended up in yet another bleed down to support near $7.7k/7.8k, and it just doesn't seem like there's enough buying action going on at this price range for another move to $9k and $10k like people are calling here. Still a decent price to be dollar cost averaging and accumulating in anticipation for a future move upwards.

At the very least, we are making higher lows at the moment on the daily, though not by very much.

supercanada1

sr. member

Activity: 798

Merit: 253

Quote from: NathanJB on October 18, 2019, 03:25:37 AM

Nice analysis but then Bitcoin is acting away from all those. Most of the TAs are failures in terms of grasping the next movement of Bitcoin. A lot of great TAs at face value failed to really foresee the pattern that Bitcoin is going to make in the next hours, days, and months. But nice try. Everyone's trying to catch Bitcoin's next step. And what makes trading fun at the same time frustrating is that Bitcoin's next step is too elusive.

This is the reason why I keep on saying no one really knows bitcoin. You think you know enough about it and can do the predictions accurately, here it is proving your predictions incorrect and telling you to learn and explore me more. Bitcoin is indeed a beneficial game abut all big things come with big efforts. Still with the fact that it is going to gain a lot of value, it is the easiest way to become rich.

pamsugas

sr. member

Activity: 1092

Merit: 255

I agree with you that bitcoin will not fall from $7500 because when the correction in the bull run market bitcoin has never fallen from 50% and currently bitcoin has touched a correction of 44%.

I think in the next 1-2 weeks bitcoin will come back at $ 10k

Karmakid

sr. member

Activity: 742

Merit: 397

I don't think that bitcoin has already bottomed out and I believed that there is more to come for the price dump of bitcoin. Bitcoin is still struggling fighting the bears while it is a good opportunity for us to grab more bitcoin while the price is pretty low and I am just buying bitcoin on every dip and selling some of my balance after I gain at least 20% profit which is not bad for a short term holding.

zhekinsp

full member

Activity: 882

Merit: 126

★777Coin.com★ Fun BTC Casino!

Quote from: Chaintrader_1 on October 13, 2019, 03:47:55 PM

Hey guys,

I really do think Bitcoin has bottomed out right now.
1st we haven't seen any close below the weekly EMA and it acted as support
2nd Correction of 45% one of the highest ones so far
3rd Bullish divergence on the weekly chart
4th triple bottom reversal pattern

For my complete analysis check my YouTube video : https://youtu.be/XUyoGTJH8FY

But it doesn't yet,we faced dump after this post as well and chances for more dump to hit $7000,any new analysis after that dump?

NathanJB

sr. member

Activity: 756

Merit: 251

Nice analysis but then Bitcoin is acting away from all those. Most of the TAs are failures in terms of grasping the next movement of Bitcoin. A lot of great TAs at face value failed to really foresee the pattern that Bitcoin is going to make in the next hours, days, and months. But nice try. Everyone's trying to catch Bitcoin's next step. And what makes trading fun at the same time frustrating is that Bitcoin's next step is too elusive.

JunoCoin

member

Activity: 64

Merit: 10

Open an account with the bigest exchange platform.
Follow my link to get 10% off your trading fees - www.binance.com/en/register?ref=M619W5DN
You only need email and password to register. Bonus for new accounts $20. Lowest trading fees.
It is very easy to integrade trading bot with the platform.

darewaller

hero member

Activity: 2926

Merit: 640

Quote from: Chaintrader_1 on October 13, 2019, 03:47:55 PM

I really do think Bitcoin has bottomed out right now.
1st we haven't seen any close below the weekly EMA and it acted as support
2nd Correction of 45% one of the highest ones so far
3rd Bullish divergence on the weekly chart
4th triple bottom reversal pattern

For my complete analysis check my YouTube video : https://youtu.be/XUyoGTJH8FY

I think so too and I also believe that this is actually the best entry point right now, this is the time for people to accumulate because there will be a full rebound of bitcoin within the some weeks' time, I don’t expect any reversal of price again, I know we have some people that are still expecting further decline to maybe $7000, which I fully doubt if this can be possible again.

We have some doubting Thomas and that is how they will still see this value slip off now because they are still expecting more bottoms, from what I can see, I fully agree with you. Bitcoin will start recovering right now and maybe we could start with the former $10000 we had a drop from, and from this $10k, bitcoin can surely start breaking more barriers that could lead the value to $15k.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Patterns over patterns...
I wish OP is right, but I cannot believe him. Yes, TA may support everything he said. But there's still a mix of expectation and uncertainty, and that uncertainty still can be exploited for relatively short time gains.
So the price going further down is still possible imho. Maybe it "cannot" go lower than 7500 or 7000, but that's another story.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: TrevorS on October 14, 2019, 02:40:43 PM

I doubt very much that we felt for the bottom. It seems to me that the scenario with the descent of bitcoin to the support level of $ 6800 is much more likely than the fact that we will push off from the current level.

I agree. People severely underestimate the current market, which they have always done because when you want to see your coins go up, you will come up with bullish bottom scenarios to please your thinking and reduce some stress.

Longer term speaking, bouncing off some important moving averages is what I find quite bullish, which is why I'm looking forward to ~$7k because that could potentially be a level at which the trend reverses.

I do however believe that we lost the $10k level this year, so after a major correction it will be a slow grind up to break $10k before to block halving to hopefully never see such levels ever again. It's a great time to have fiat ready now.

TrevorS

sr. member

Activity: 1050

Merit: 377

I doubt very much that we felt for the bottom. It seems to me that the scenario with the descent of bitcoin to the support level of $ 6800 is much more likely than the fact that we will push off from the current level.
Bitcoin is being traded in a rather narrow corridor for the past few days, I see no prerequisites for growth, unless local growth is likely to reach levels 8800-8900 and then a decline.

electronicash

legendary

Activity: 3178

Merit: 1054

stronger support this time so its almost sure we have bottom out the bears are all weary in taking out all their profits. we see less of them selling at low price and there were traders withdrawing their BTC from exchanges. not really happy to what is going on in hongkong but if the crisis will make them resort to BTC, i'd take it as good reaction from those people. the recessions speculated by the finance gurus i think will also help cryptocurrency on the rise.

scambust

legendary

Activity: 1652

Merit: 1007

I thought the Bitcoin bottom was $3,121? Anyway, for this current push up from the yearly low, Fibonacci retrace of a little more than 61.8% (from the weekly chart) is typical of Bitcoin.

So this correction after the breakdown of the descending triangle seems to be over and it is also very oversold. I expect $8k to be held strongly and maybe some sideways move.

sandra_x

member

Activity: 574

Merit: 14

Your points are valid, but bitcoin does its own thing,It seem we are not out of the wood yet, the bears seem to be heading stronger, let's hope the resistance is not broken, else we will be going down the rabbit hole again. The market is long overdue for a return.

Topic: 4 reasons why Bitcoin has bottomed out - page 3. (Read 744 times)