Topic: Bitcoin is Cheap Until April, We’ll Never See Price at $3,000 Again: Trader - page 3. (Read 678 times)
March 14, 2019, 12:24:48 PM
LOL, who is this Galaxy? But yeah, pretty much if you have been in cryptosphere since it's last peaked then obviously this is good accumulation period starting last November when it bottomed. I guess one reason though why casual investors are not entering or just wish to do short trading is that there's no significant news coming along. Just look at the price right now, struggling to break $4000, why? Maybe the bears is not yet done and not exhausted and will continue to short and book profits as long as they want. So it will be a slow grind for weeks or even in the next coming months.
March 14, 2019, 12:17:40 PM
From December 2018 (date on which Bitcoin gradually losts value from ~$6k to ~$3,5k) to March 2019 the Bitcoin value has remained around $3,500 with small up and down here and there.
What I mean is Bitcoin is already cheap, for several months the price is around the same on average. Its value could be less than the $3,000 line. if a scenario like we got in Dec 2018 happens, it could bring the Bitcoin value to the $2,5k-$2k range
March 14, 2019, 10:36:32 AM
Despite being down 80 percent from its all-time high,
it is closer to 85% than to $80% 
Quote
a fairly large number of investors are still cautious and shorting bitcoin in a low price range.
being cautious means not doing anything and waiting for a signal or at least trading with a small window, shorting is the most dangerous thing anybody can do right now!Quote
Bitcoin shorts achieved a 3-week high earlier this week, demonstrating a lack of confidence of investors in the cryptocurrency market in the near-term performance of bitcoin.
i'm sorry but i can't believe in this because price is stable! who is shorting something that doesn't even move?Quote
But, according to a trader known to the cryptocurrency industry as “Galaxy,” bitcoin at $3,000 may be a rare opportunity that does not come again in the future.
no shit 
Quote
Based on that trend, the trader said that investors will likely never see Bitcoin at $3,000 once again after April and the dominant cryptocurrency is en route to recovering in 1 to 2 months.
it is not possible to come up with any patterns at this stage. price may start rising this week or next month or in a couple of months from now. the drop is even possible but only if something terrible happens out of the blue. March 14, 2019, 10:03:32 AM
If bitcoin fails to cleanly break into the $4,000 region and surpass key resistance levels at $4,200 and $4,300, analysts have said that a retest of lows at $3,300 and $3,122 is a possibility.
Analysts and possibilities.
Following the trend lines, which do seem to support Bitcoin, it's only a matter of looking at the charts to figure out what's going to happen. This holds significance until it doesn't, which means that we have to close below the supportive trend lines, and then still, the 200WMA is creeping up higher and higher, which makes it less likely to retest $3150 unless it's a flash wick that gets bought up to keep the daily and weekly chart still look pretty.
Everything we see is indicative of more sideways actions. I doub't we're done with $3xxx prices, but even if so, if it turns out that we bottomed for sure, it's not a problem to buy 10-20% higher if it keeps going up from there.
March 14, 2019, 09:44:13 AM
Despite being down 80 percent from its all-time high, a fairly large number of investors are still cautious and shorting bitcoin in a low price range.
Bitcoin shorts achieved a 3-week high earlier this week, demonstrating a lack of confidence of investors in the cryptocurrency market in the near-term performance of bitcoin.
1-Month Price Chart of Bitcoin (Source: Coinmarketcap.com)
But, according to a trader known to the cryptocurrency industry as “Galaxy,” bitcoin at $3,000 may be a rare opportunity that does not come again in the future.
Why $3,000 For Bitcoin is Rare
According to Galaxy, since its inception, bitcoin has established a trend of reaching a new all-time high, enduring a steep decline in price, initiating an accumulation, and recovering to a new high.
Based on that trend, the trader said that investors will likely never see Bitcoin at $3,000 once again after April and the dominant cryptocurrency is en route to recovering in 1 to 2 months.
He said:
Although prices may appear to be random (to some), they actually create repeating patterns and trends.
Observing this pattern makes April the last month of cheap BTC. And now, of course it will be cheap multiple times in the future, but never $3,000 cheap.
There are several traders and technical analyst who foresee bitcoin replicating its price movement in November wherein it experienced three months of stability and fell by nearly 50 percent in the following month.
$BTC mirror world, times almost up ⌛️ pic.twitter.com/F8em6QQd7E
— Moon Overlord (@MoonOverlord) March 14, 2019
If bitcoin fails to cleanly break into the $4,000 region and surpass key resistance levels at $4,200 and $4,300, analysts have said that a retest of lows at $3,300 and $3,122 is a possibility.
Reference: https://www.ccn.com/bitcoin-is-cheap-until-april-well-never-see-price-at-3000-again-trader
Bitcoin shorts achieved a 3-week high earlier this week, demonstrating a lack of confidence of investors in the cryptocurrency market in the near-term performance of bitcoin.
1-Month Price Chart of Bitcoin (Source: Coinmarketcap.com)
But, according to a trader known to the cryptocurrency industry as “Galaxy,” bitcoin at $3,000 may be a rare opportunity that does not come again in the future.
Why $3,000 For Bitcoin is Rare
According to Galaxy, since its inception, bitcoin has established a trend of reaching a new all-time high, enduring a steep decline in price, initiating an accumulation, and recovering to a new high.
Based on that trend, the trader said that investors will likely never see Bitcoin at $3,000 once again after April and the dominant cryptocurrency is en route to recovering in 1 to 2 months.
He said:
Although prices may appear to be random (to some), they actually create repeating patterns and trends.
Observing this pattern makes April the last month of cheap BTC. And now, of course it will be cheap multiple times in the future, but never $3,000 cheap.
There are several traders and technical analyst who foresee bitcoin replicating its price movement in November wherein it experienced three months of stability and fell by nearly 50 percent in the following month.
$BTC mirror world, times almost up ⌛️ pic.twitter.com/F8em6QQd7E
— Moon Overlord (@MoonOverlord) March 14, 2019
If bitcoin fails to cleanly break into the $4,000 region and surpass key resistance levels at $4,200 and $4,300, analysts have said that a retest of lows at $3,300 and $3,122 is a possibility.
Reference: https://www.ccn.com/bitcoin-is-cheap-until-april-well-never-see-price-at-3000-again-trader
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