Topic: Bitcoin Bottomed out ? TA analysis. - page 2. (Read 1763 times)

you think we have formed the top of this rally? looks like we're gonna close with a bearish engulfing on the daily.

i was hoping to tag at least $5600 but we're at the point where this is liable to dump at any time. it's been a good ride into this resistance.....

It is already given that during a certain period, Bitcoin fluctuates.  People trade, buy and sell, other plays the market playing along within the support level and resistance.  I hope that you are right about seeing the pattern towards $15k to $20k. and somehow the news about China planning to ban cryto mining won't affect the market.  This kind of news somehow plays as a wild card and often times make the TA and technical predictions to fail.

The value has lost something like $200 or $300 in just one day which makes me think that despite analyses, predictions or statistics there is currently something unnatural that is causing this volatility that doesn't fit with the current market, the BTC value and/or other things.
I mean, we currently have a volatility rate that we had before when Bitcoin went from $15k to $20k (for example).

I believe in OP that Bitcoin has Bottomed out, and that made me so confident going forward because I know I survive until BTC bottomed out.
It's my goal to ensure good profit and holding for long term is still my best way of achieving it, I'm just glad that there are people who shares their opinion about crypto and they are bullish as well.

That is why it is good for speculators to comeout with analysis in backing up of what they are telling us.  I think we are going to have good days in days to come and for me I am really seeing positive outlook in all things.

Now that it seems we are in the bull run, we might heard again john mcafee shilling some of the coins.
This guy had some success in the past and gain a of followers on his pump game, but it was a pump and dump, and in the end, he didn't have
to risk any amount of money just to make good money.

These analysis were posted  almost 4 months ago , i am looking at present charts and damn, it's like looking in a mirror.

it's amazing how many answers are in the charts yet many people chose to listen to the news and john mcafee.

I would love to revisit this topic by year end and see how far did we move from these analysis.

I do not really hope for classical technical analysis when it comes to Bitcoin, because Bitcoin is no longer an ordinary financial asset, now its fate depends on world political change much more than on technical analysis. Technical analysis has not shown us the real situation for a long time.

If he never bought back, sure.

At the time, it was an excellent sell though. From there, Bitcoin fell all the way to $2 over the next several months. Selling $14 and buying back a year later at $5-7 after price stabilized and broke the 2011 downtrend = $$$. That's the best way to trade this market. Don't worry about tops and bottoms, just trade the trend.

What to do now? If you truly believe that this is bottom sell what you can and buy more bitcoins, if you aren`t sure than wait with what you have and buy something extra if you can afford it. I will share one nice picture I saw the other day, you judge it for yourself:

What you think, does he regret his decision now?

You should post some updates charts, especially the 200 SMA weekly. Basically since we had a huge rally in the last 200 weeks the 200SMA price keeps increasing every week that goes by. Currently its at $3448, when you made this thread back in December it was at $3220.

Now depending how much chop we keep getting for the next few months, price can go nowhere and it might reach $3900 for the 200 SMA weekly and it can easily break it while the $3100 might still hold.

Here is an update regarding the OP.

up to this moment, more signals are starting to appear on the charts are suggest we have already bottomed.

everything mentioned in this analysis will be invalidated if we close below both 200SMA on the weekly and 50SMA on the monthly, as well as the  major support area that still sits around 2700-3200. these now are the major bottom-guide-line , this is pretty much all we have from history data.

a close below 2700$ is a probably a fall to 1100$  or 1800$ at best case scenario although that is a very week support.


so what do we do now ?

we stay calm, relax. do not rush to sell should price dip fast below support areas, wait for at least a daily candle, we are closer to the bottom than ever, some shaking out will happen, many people will fold right before the bull run, DO NOT RUSH,DO NOT FOMO, relax and watch only the daily chart for now, do not stress yourself with small time frames, nothing major is going to happen, we will probably have this slow market around for months, a few wicks can happen here and there, do not fall for it, and when you see a clear sign for another waterfall, do not sit there and wait, dump it while you can.

I would not say all, theres still quite alot of speculators who use leverage to participate in the market and thats naturally going to make the price flakey and unstable until pricing can find a sure footing to rise up past resistance.   We have to break through ceilings that have set from previous support lost, old buyers who just waited or left a sell order at their buy price have to be passed on the way back up.

This is all just normal markets but BTC still has alot of doubt in it and I dont think leverage helps fight this as the hot money will just flee and sell when tested.   A proper bottom price is found when some attempt to force price down to shake out people but there is no takers.    A bear will sometimes bluff attack an enemy its unsure of to assess the risk rather then take the actual fight, we have alot bluff bear attacks that arent especially real and it probably takes real holders to stand their ground and hold anyway.    Genuine usage helps alot

The whole 4500 to 6000 is a battleground.   Right now we just staging the fight to get to 4500 and that might take till summer for all I know


I'm sure I sold some around then and assumed it was not doing much.   The hype of halvening meant it fell a little and nobody thought much of the idea of a bottom there.

It only be happen if the trend will continue to rallying going up but thinking how it fluctuates, we still not get high percentage for its continuous pumps. Last 2017 it started to rise by second quarter and hoping it will happen this year again even though not just like of 2017 event but at least we could see some inclining activities around.

well assuming we have bottomed then most likely we will go way pass 7-8k in 2020, assuming we haven't bottomed then 7-8 won't happen anywhere before 2021. the next coming months should be give is a clear signal of what to expect for 2020, i think by June we will have enough data to confirm the outcome.

7-8k is very conservative as prediction, if the bear will be over this year,  we can easily get back to $6,000.
I don't know but my prediction this year is we are going higher than 7-8k , probably we will reach $10,000 this year, which is 50% of the ATH last 2017.

all forum members certainly don't care about the negative news from some sites and individuals, because we are still optimistic that bitcoin will rise at 7k-8k but not now I'm sure this will happen in 2020 because 2019 is a line market to gradually increase small pumps

goods news = bear market about to hit

it has always been this way, the fact that we see less good news and more bad news alone is good, it might not make sense, but you can look at the charts, compare it with news timing, it's almost always the same case, people talk about btc dying and going to 0 = bull run soon and vise versa.

and i still do think that 7-8k is doable by year end, but the fomo won't kick in by then, the biggest fomo of btc history will be pass 20k .

$7k-$8k would be a good scenario for the end of the year, I don't ask for more. But look at the market currently, it lacks some good signals (whatever it is, good news, optimism,...) and it has less interest. It needs just some sparks here and there, I am sure it will be enough to "make Bitcoin great again!"

assuming we have bottomed, then you "might" see  those numbers by end of 2019, maybe Nov / Dec .

it's very likely that we will be ranging between 3 and sub 4k range till then, hardly possibly anything above 5k, now all of this assuming we have already bottomed, things will take longer if we have not.