Bearish again? (Back at $5500) - page 3.

BitHodler

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Quote from: figmentofmyass on August 16, 2018, 07:11:54 PM

there's obviously a real battle for the $6000s between bulls and bears. most people around here seem to assume the bottom is in, which makes me weary.

We can't keep testing the $6000 mark endlessly. It will break by the next one or two attempts, especially if the decline is fueled by yet another couple of ETF rejections which people seem to go nuts on.

My thought is that the 'ultimate' bottom is somewhere around the $4000 mark. It will reset the market back to where Japan was positively stimulating a healthy uptrend, but still before the futures announcements.

And people relax, I'm not saying it will actually go down to $4000. It's just a thought that's floating around in my mind in case we do actually break the $5700 mark. It doesn't even sound unrealistic.

Moiyah

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Quote from: ehiozuwa on August 21, 2018, 08:03:22 AM

We have moved past that level for good, we are hoping bitcoin will break the 7000 $ resistance and move further upward before it goes to the moon

Well, we have no other choice but to hope and wait for that moment. As other speculations said that bitcoin will only play from $5k to $6800 for a few weeks. Being said and experiencing it now, it is not hard to break a resistance of $7k and start a bull run, if ever.

ehiozuwa

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We have moved past that level for good, we are hoping bitcoin will break the 7000 $ resistance and move further upward before it goes to the moon

choychoy

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Quote from: PartyPete on August 14, 2018, 01:44:00 AM

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?

it's been bearish trend for the past 6 months and I think that this will the trend for the whole year. The bull run maybe will come next year if there's no good news that will ignite a bull run for this year. You need to have enough patience to wait for the bull run.

inneveca

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Quote from: Indamuck on August 16, 2018, 04:20:57 PM

I believe we already touched the bottom of this bear market, there is too much support around the $6k levels for it too reach a new low for the year. There is still a lot of negativity lingering because of the dip from the $20k peak. I do believe the next bull run will start very soon and there is no reason we can't reach a new all time high by the end of this year.

Yes that is a fact that we have already touched the bottom, but people still reluctant to do investment in bitcoin because of the negative news that are wondering in the market. Hope very soon people will overcome their fear and will start investment in bitcoin which is surely give a good boost to bitcoin price.

PaulLines

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Quote from: Yaunfitda on August 16, 2018, 03:59:05 PM

And it looks like the trading would be around $6K-$6.5 and the big mental barrier is $7K. I like what I'm seeing though, we might be seeing another sideways for a few days, and probably consolidating in order to get to the new phase, which is $7K. Might be a bull trap again? Cry

Remains to be seen.

I think that 7k is not a big psychological barrier for bitcoin investors. Bitcoin price can easily cross that level may be in next 24 hours. I think that the big barrier for bitcoin price is 10k which I think can cross but after entering some good news in the market.

Ourplealis

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Quote from: figmentofmyass on August 16, 2018, 07:11:54 PM

there's obviously a real battle for the $6000s between bulls and bears. most people around here seem to assume the bottom is in, which makes me weary. i'm still refraining from trading right now. the market is still threatening a lot of weakness, and after so much downside, i'm only looking for buying/longing opportunities. i've got my fingers crossed that we start curving upwards and showing support into dips, but......i'll wait and see. Lips sealed

Bitcoin price is trading between 6000$ and 7000$ for a long time. in fact at that level the investors are not reluctant to invest their money in bitcoin at that level, they know that the current price is the lowest price for bitcoin and therefore there are very little chances that bitcoin rice will break that level very easily.

el kaka22

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Quote from: BlueStackz on August 17, 2018, 03:12:15 AM

Quote from: tranquyen123456 on August 16, 2018, 04:14:35 AM

I'm thinking $ 6000 already is the current hard support. Bitcoin will return to $ 10,000 in September. A lot of technical analysis is geared towards that

Bearish trend is currently existing in the market and we should not sell right now will be a foolish decision ever if you proceed for selling. Better decision is to invest more in the Bitcoin so that we have more coins in our wallet for we are looking to make huge or maximum profit in high market. High market is not far as it has taken too long to convert into bullish but we have to think for benefit only and the current benefit is to buy more.

This is really alarming. We are still in a downtrend and it is normal to see huge drops like this happen than huge buys. That is where the momentum comes in every trade and right now, the sell momentum is higher and the bears are still in control. It is something that is not easy for most new investors or traders to get used to in the market, which is why in this moment, it is always better to wait for very clear signals before making any move in the market. Being afraid of the market is the core reason why prices were driven out up to this levels.

A lot of people who really are confused about what is happening now are those who did not even understand what this space is like before even deciding to invest at all with quite a number of them just looking for ways to quickly get rich and wealthy in a short term. The best thing for anyone to be thinking of now is to see how to be buying the dips to take advantage of huge profit when the market picks up.

BlueStackz

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Quote from: tranquyen123456 on August 16, 2018, 04:14:35 AM

I'm thinking $ 6000 already is the current hard support. Bitcoin will return to $ 10,000 in September. A lot of technical analysis is geared towards that

Bearish trend is currently existing in the market and we should not sell right now will be a foolish decision ever if you proceed for selling. Better decision is to invest more in the Bitcoin so that we have more coins in our wallet for we are looking to make huge or maximum profit in high market. High market is not far as it has taken too long to convert into bullish but we have to think for benefit only and the current benefit is to buy more.

figmentofmyass

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there's obviously a real battle for the $6000s between bulls and bears. most people around here seem to assume the bottom is in, which makes me weary. i'm still refraining from trading right now. the market is still threatening a lot of weakness, and after so much downside, i'm only looking for buying/longing opportunities. i've got my fingers crossed that we start curving upwards and showing support into dips, but......i'll wait and see. Lips sealed

hisuka

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Bitcoin has the strong fluctuation to sum up. Well, remember the market always sorrounds of surprises so possibly price will touch a sky rocket but it's not clear when. A chance could occur let's see before this end of the year.

Indamuck

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I believe we already touched the bottom of this bear market, there is too much support around the $6k levels for it too reach a new low for the year. There is still a lot of negativity lingering because of the dip from the $20k peak. I do believe the next bull run will start very soon and there is no reason we can't reach a new all time high by the end of this year.

Yaunfitda

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And it looks like the trading would be around $6K-$6.5 and the big mental barrier is $7K. I like what I'm seeing though, we might be seeing another sideways for a few days, and probably consolidating in order to get to the new phase, which is $7K. Might be a bull trap again? Cry

Remains to be seen.

wuvdoll

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Quote from: PartyPete on August 14, 2018, 01:44:00 AM

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?

I doubt it can go that much low anymore. I mean it still can but I doubt it will happen, I believe for a while it will stay around these levels before going up again. As per some expert's analysis bitcoin market is just copying exactly what happened in 2014 after hitting $1200 for the first time. This makes me worried a lot.

People are forgetting that going back to $20k is really hard however getting bitcoin down to $4k or lower is actually harder, you need billions of dollars or some sort of manipulation/speculation that could rock the crypto space, like USA bans all crypto related stuff type of big, either that or billions of dollars. I doubt anyone would do neither of those two just to get bitcoin price under $4k. Considering this, I think we are at a safe spot, the price is good to buy because it is really hard for it to go further down.

setupbounds

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Quote from: websoftwareengineer on August 14, 2018, 02:38:23 PM

Quote from: bitcoinerjawa on August 14, 2018, 01:30:14 PM

yes you are right for now it seems that the condition of the bitcoin price will be back bearish and will touch the most basic price may touch the price of $5000.

Even though the market price of bitcoins will reach $5k dollars, it will still grow even more in the future due to the volatility of the market so keep on holding your coins today.

Liquidity is necessary to increase for most of investors like stable market situations so that they predict and make decisions easily. Price yesterday fell down to 5k dollar figure but we saw quick recover to 6k US dollar again which was a good attempt and clearing that investors are investing more. I will guarantee you if we start investing on large scale or stop selling in this low market then we will see bull market very soon.

KalaiBTC

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Quote from: PartyPete on August 14, 2018, 01:44:00 AM

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?

Skyrocketing may happen and may not as we do not know actually because major factor that is controlling the value is demand rate or buying rate. Once the number of participants increases the value will start its increase trend and when it decreases the value also declines. Due to this fact which can happen any time in the market so we have no idea when will the value start going up in the air.

tranquyen123456

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I'm thinking $ 6000 already is the current hard support. Bitcoin will return to $ 10,000 in September. A lot of technical analysis is geared towards that

withlove99

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Quote from: PartyPete on August 14, 2018, 01:44:00 AM

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?

The current BTC price is $63xx and according to current price movements, I expect a BTC price of $68xx a next week, but it's just a guess. Let's see how will the market looks?

o_freeman

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Quote from: cellard on August 15, 2018, 10:39:41 AM

I know a lot of people that have been opening short positions every time we crossed the $6000 line, they thought we were going to re-test $4900 long term resistance line, and were so smug about their shorts.

Each time they have been rekt by these pumps that happen when we cross $6000, and just like pigs, shorts get slaughtered. It's really sad to see, but hilarious at the same time I guess.

How many times do we have to go through this to see that shorting Bitcoin, specially at $6k range, is extremely dangerous? This could be the definitive bottom after all, and we'll just stay there until bears run out of steam, then race to ATH begins again.

Markets are fickle bitches. Sometimes they cross that "tipping point" just to taunt people who think that line is the end of everything. Longs close, shorts open, everyone switches positions and then... surprise! It's back on the other side again! A good old sweep and rinse maneuver just cleaned out half of the retail traders and suddenly there's a lot more room for us.

This is why it's impossible to say "The end is nigh! 6k has been crossed!" It could be crossed 7 times before going back up for all we know.

timerland

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Quote from: PartyPete on August 14, 2018, 01:44:00 AM

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?

The markets have pretty much always been bearish from the start of the year.

The only thing that was remotely close to some bullish sentiment in the last month was probably the bull trap, which saw bitcoin rally to around $8k or so, before correcting back to the level that we're at right now (6-7k).

It's just how a bear market goes, there is mostly sideways movement and some dips in price here and there. It doesn't mean that bitcoin is not going to experience more bull markets in the long term, at all.

In fact, we're probably very close to the bottom at this point in time. A recovery is imminent, and I think that with the halving event in 2020, we could likely see the next bull market emerge some time there.

Topic: Bearish again? (Back at $5500) - page 3. (Read 2390 times)