Bitcoin Price Analysis Today - page 2.

snowblack

member

Activity: 262

Merit: 12

Quote from: Sept93 on February 08, 2018, 04:46:52 AM

Quote from: Andrey123 on February 08, 2018, 04:34:13 AM

Now bitcoin will grow!
All the news about the ban of mining in China, turned out to be the tricks of hackers who earned on the fall of the course!

You can not forbid something that you can not even hold in your hands Grin

I don't think so.
The downtrend will continue. Because of Tet holiday of Asian people.
All Asian people want to sell bitcoin for their holiday.

May be in March, bitcoin can grow again.

I agree with downtrend. Uptrend will happen if have good news with government!

Sept93

newbie

Activity: 4

Merit: 1

Quote from: metenjean on February 08, 2018, 05:14:50 AM

Couldnt agree more, the price has found support in $7k range however we need more confirmation to define if the downtrend has reversed and in this case we need to see the price break $9,5k trendline for short term trading and retest back into $8,5k which will be the the second buy setup i've been waiting since buying in $7k area. This however only confirm that the trend will gain slight momentum towards $10k area. The price needs to break around $12k area to totally regain the upwards momentum and starting the bullish trend. Stoploss set below $5.9k but noted this review and suggestion didnt intended for choppytraders Grin

Ranging price between $6k - $7,5k so there will be my most buying position and limit setup and anywhere below $6k will be my stoploss, need to see more closing candle confirmation, mostly done by using line chart.

Here is the 4H chart with the same trendline which conform the downtrend still in play with some pullback momentum upwards, however this doesnt mean the trend has changed. However we need to know that bitcoin movement is the most volatile and trend can be changed in days countdown and not weeks or months Grin

The biggest problem is goverment. Downtrend will be continue...

metenjean

full member

Activity: 854

Merit: 140

Couldnt agree more, the price has found support in $7k range however we need more confirmation to define if the downtrend has reversed and in this case we need to see the price break $9,5k trendline for short term trading and retest back into $8,5k which will be the the second buy setup i've been waiting since buying in $7k area. This however only confirm that the trend will gain slight momentum towards $10k area. The price needs to break around $12k area to totally regain the upwards momentum and starting the bullish trend. Stoploss set below $5.9k but noted this review and suggestion didnt intended for choppytraders Grin

Ranging price between $6k - $7,5k so there will be my most buying position and limit setup and anywhere below $6k will be my stoploss, need to see more closing candle confirmation, mostly done by using line chart.

Here is the 4H chart with the same trendline which conform the downtrend still in play with some pullback momentum upwards, however this doesnt mean the trend has changed. However we need to know that bitcoin movement is the most volatile and trend can be changed in days countdown and not weeks or months Grin

Sept93

newbie

Activity: 4

Merit: 1

Quote from: Andrey123 on February 08, 2018, 04:34:13 AM

Now bitcoin will grow!
All the news about the ban of mining in China, turned out to be the tricks of hackers who earned on the fall of the course!

You can not forbid something that you can not even hold in your hands Grin

I don't think so.
The downtrend will continue. Because of Tet holiday of Asian people.
All Asian people want to sell bitcoin for their holiday.

May be in March, bitcoin can grow again.

Andrey123

sr. member

Activity: 1778

Merit: 305

Now bitcoin will grow!
All the news about the ban of mining in China, turned out to be the tricks of hackers who earned on the fall of the course!

You can not forbid something that you can not even hold in your hands Grin

snowblack

member

Activity: 262

Merit: 12

The cryptocurrency is finding buyers at lower levels who are using the sharp plunge in prices to buy for the long-term.
So, is the downtrend over or will the market resume its fall after a short pullback?

During a strong downtrend, a 1 to 3-day pullback can be expected. The counter-trend move usually faces selling at the 20-day EMA or at previous supports, which now act as resistance.
The BTC/USD pair is likely to face resistance at $9,500, which was the high on February 3. Above this, a move to $9,920 can’t be ruled out, but we expect the range of $9,920 to $10,700 to act as a strong resistance.

I believe that the cryptocurrency will turn down from one of the above-mentioned levels. If the retest of the lows is successful, i may add long positions for the long-term.

If the lows break, i’ll have to wait for a few more days.

Topic: Bitcoin Price Analysis Today - page 2. (Read 263 times)