Bitcoin Weekly Update: Bulls Last Stand - page 2.

Kemarit

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Quote from: cryptoadvocate on November 21, 2019, 12:43:08 PM

Direct quote from the article:

"The daily mid-ranges from $8,200-8,250 which is confluent with the 0.705 fib level appear to be the last bullish support and where I'm personally looking to at least play a bounce. Below that and there's not much in the way of a full retrace and a re-test of former range lows at $7,600 and $7,400."

You're welcome

We are now entering $6900 range, so we are now in a new lows and I don't think that it will hold up until we touch $6400. So anything goes from this point, there's so much FUD about the Binance raid in China. They already denied it but as I have said in other thread, the damage has been done so we might see $6000-$6400, just like year. I know that we don't like to see the price in that position late this year. But I'm still optimistic that this is the last great bump along the round prior the halving and I'm expecting that we will have a good bounce start of next year.

Oilacris

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Quote from: cryptoadvocate on November 21, 2019, 12:43:08 PM

Direct quote from the article:

"The daily mid-ranges from $8,200-8,250 which is confluent with the 0.705 fib level appear to be the last bullish support and where I'm personally looking to at least play a bounce. Below that and there's not much in the way of a full retrace and a re-test of former range lows at $7,600 and $7,400."

You're welcome

We are already on that level as of this writing.So what would be the possible next support if 7400 would be broken out?

If there would be no bounce back with these supports then for sure we would head down even more.We might see 5 digit price on next year.

cryptoadvocate

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Direct quote from the article:

"The daily mid-ranges from $8,200-8,250 which is confluent with the 0.705 fib level appear to be the last bullish support and where I'm personally looking to at least play a bounce. Below that and there's not much in the way of a full retrace and a re-test of former range lows at $7,600 and $7,400."

You're welcome

pawanjain

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Nothing lasts forever

As of writing this post the price is about $7500. The price has fell down from $9500 which is a straight decline of $2k.
The price should have increased at this stage since it's the end of the year and BTC price generally increases in the year end.
Besides that, the upcoming bitcoin halving would surely attract investors to invest in BTC.

cryptoadvocate

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Quote from: Dart18 on November 21, 2019, 10:15:43 AM

And then this one popped out.

Quote

Decide to trade based on my charts above? Do me a favor and register at Bybit which is currently offering up to $60 bonus for new sign-ups and is proving itself to be the best margin exchange out there

I thought I am going to see a real technical analysis but yet it is just for referrals. Grin

Well, I did though $8k will be the bottom until now.
At $7.8k many people are trying to wonder what is happening and some are getting scared that this might be the end. Grin

People are so petty. I share an analysis at 8.5k that says outlook is grim and straight out bearish if 8200's are lost. Here we are today at 7700 and if you had followed analysis you'd be in a very profitable short or saved btc to buy cheaper. And you disregard that because theres one referral link on the page? God forbid I hand out accurate trading advice and 1/1000 people who reads it clicks a referral link and I make a few bucks.

Dart18

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And then this one popped out.

Quote

Decide to trade based on my charts above? Do me a favor and register at Bybit which is currently offering up to $60 bonus for new sign-ups and is proving itself to be the best margin exchange out there

I thought I am going to see a real technical analysis but yet it is just for referrals. Grin

Well, I did though $8k will be the bottom until now.
At $7.8k many people are trying to wonder what is happening and some are getting scared that this might be the end. Grin

slaman29

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Quote from: Text on November 21, 2019, 02:39:21 AM

Bitcoin price is $7,987.27 as of writing, bearish trend still consistent. I thought there would be a price increase because the next halving will take over next year plus the good news about china supporting blockchain technology. Then why these happenings are reversible? It's really hard to identify what would be the flow of the market, that's why investors afraid of it.

And yet for some reason Bitcoin simply doesn't want to give up so easily around 8k.

Halving isn't going to have desired effect anymore. People knew about since last year, so they got all the btc they wanted around $3k or even max at $5k.

Now you are experiencing what is called trying to dump as low as possible to buy back in at the dip.

strunberg

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Quote from: Genemind on November 21, 2019, 04:11:34 AM

I don't see any reason to doubt about the current value and its changes because I see it as a normal thing. 8k is still normal since Bitcoin's volatility is always surprising. There are upcoming huge events in the world of crypto so I believe that Bitcoin's situation could still go better by the end of the year. The best thing to do during this market situation is just to hold continuously.

no one doubt next year be most waited event for bitcoin price especially and cryptocurrency commonly. The thing we could do if we have more money were add our bitcoin or altcoin amount. In case if bitcoin price increase again on next year we could doubled our profits. At this moment crypto community still waiting best moment and waiting good news that could drive bitcoin and altcoin price.

Murat

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It's really sad to see the price is being increased again, Not really that the price is the only reason to see this situation but also there are also increased rate of the newcomer to this platform, I think this is only for some scammers who are the main culprit for this situation. I also believe that the Bitcoin price will rise very soon since we noticed at the end of every year The price of Bitcoin usually takes the lead, so it doesn't matter, it's only a matter of time. I had a belief that Bitcoin's price would get at the new milestone within this year, but still, it didn't happen, who knows what will happen in the coming time. Let's see.

Genemind

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I don't see any reason to doubt about the current value and its changes because I see it as a normal thing. 8k is still normal since Bitcoin's volatility is always surprising. There are upcoming huge events in the world of crypto so I believe that Bitcoin's situation could still go better by the end of the year. The best thing to do during this market situation is just to hold continuously.

Wapfika

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Quote from: Text on November 21, 2019, 02:39:21 AM

Bitcoin price is $7,987.27 as of writing, bearish trend still consistent. I thought there would be a price increase because the next halving will take over next year plus the good news about china supporting blockchain technology. Then why these happenings are reversible? It's really hard to identify what would be the flow of the market, that's why investors afraid of it.

I think it's normal for a correction , since there is no current news that might be the reason of the decline in price. These fomo means only a manipulation but if it keeps falling it will be really give a hard time to identify whether the halving will be a success to pump BTC. Im expecting since Monday that it will only fall to $7.9k hope it will not fall more.

Text

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Bitcoin price is $7,987.27 as of writing, bearish trend still consistent. I thought there would be a price increase because the next halving will take over next year plus the good news about china supporting blockchain technology. Then why these happenings are reversible? It's really hard to identify what would be the flow of the market, that's why investors afraid of it.

watergold

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Quote from: hugeblack on November 20, 2019, 12:44:22 PM

We still maintain the level of $ 8,000 which means that the outlook is still positive for the coming months, I don't know how long we will continue with these gains but we may not see $ 7000 soon.
The Christmas period and the end of the year are witnessing more positive so we may return to the $ 10,000 levels if the price can maintain these levels in the coming days.

I don't think bitcoin will go down to $ 7000 but bitcoin will last as it is now, I haven't found any analytical techniques from experts how about bitcoin going forward, but many investors are still waiting for hopes in the next month for bitcoin to return to $ 9500, new year and Christmas will be their moment because bitcoin is high again.

acdc

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This is what I call the market cycle, the bad news and the good news intertwined makes investors bewildered and prone to FOMO. The news of China supporting Bitcoin has been overblown by sharks and it is a trap for inexperienced investors. In my opinion, the price reduction is likely to last until the end of 2019, perhaps by 2020 the market can recover.

Jating

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Quote from: Shasha80 on November 20, 2019, 09:32:16 PM

I am personally very surprised to see bitcoin price movements for this month, which has decreased. I hope this will not lasted
a long time, because it would be very dangerous if until bitcoin falls back below $ 8,000. Keeping in mind the current price
bitcoin $ 8100 is the last defense. The problem is in my opinion if until bitcoin drops to a price below $ 8000 it can a sign of
a bullish trend failed to materialize. And if the $ 8000 support price barrier is successfully broken bitcoin is likely to fall again to
the price of $ 7,000, i hope this should not happen.

Sadly the price is nearing < $8k and the price continue to go down today, we are now in the bearish sentiments. Although we don't want to see it, we need to understand that it's possible to even see $6.4 in the coming months, so just prepared for the worst.

Maybe the spike from $7400-$9000 was due the China news supporting blockchain and then easing on bitcoin mining. But it was not sustainable, meaning it could be just a trap that's why the price was suddenly jump after that. And now that its over, we may go back to the $7k or even below.

Shasha80

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I am personally very surprised to see bitcoin price movements for this month, which has decreased. I hope this will not lasted
a long time, because it would be very dangerous if until bitcoin falls back below $ 8,000. Keeping in mind the current price
bitcoin $ 8100 is the last defense. The problem is in my opinion if until bitcoin drops to a price below $ 8000 it can a sign of
a bullish trend failed to materialize. And if the $ 8000 support price barrier is successfully broken bitcoin is likely to fall again to
the price of $ 7,000, i hope this should not happen.

cryptoadvocate

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Anytime you get an ugly wick to the topside like that, decent chance lows get swept.

hugeblack

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We still maintain the level of $ 8,000 which means that the outlook is still positive for the coming months, I don't know how long we will continue with these gains but we may not see $ 7000 soon.
The Christmas period and the end of the year are witnessing more positive so we may return to the $ 10,000 levels if the price can maintain these levels in the coming days.

Wexnident

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Quote from: buwaytress on November 19, 2019, 10:58:53 AM

And you saw from 8500 there hasn't been any notable resistance to now. There wasn't a stand to even mention, bulls are just too lazy to form a charge.

Probably because they see no reason to form a charge. Only those day to day traders have it hard tbh, with most of the long term ones just chillin out. A lot of newbie traders are getting attacked by fear at this junction though, with what they'd expect a smooth slide upwards of BTC when it reached 10k last time.

As for those newbies or people attacked by fear, No need to really fear though. BTC still holding it above 8k, people still fighting for it to go up. And even if it went down, jeez, wait till the end of the year. If it went down the 6.4k support, then panic. But I'd still advise the same, just HODL, it'll pass sooner or later.

Kemarit

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Quote from: LouVandetta on November 19, 2019, 10:59:54 AM

Quote from: Kemarit on November 19, 2019, 06:53:15 AM

It did lost that support already? The price is way below $8300 now so I'm expecting that the bulls last stand will be $8000. Obviously if this is broken, the bulls will no longer have the upper hand and it will be very difficult to defend as the support is slowly crumbling with the pressures from the bears. What do you think though, will that $8000 support hold in the next couple of hours?

The price is below $8100 now by only a couple days the price dropped quite deep, so our last hope is that $8000 mark. If it reaches that mark, I'm afraid we're going to see another bloody hell market. I do hope the support could hold a bit longer and bounce back up in the next few hours but it might be the opposite as well.

And is it really because of that news about google few hours ago?! And everywhere I see is red on markets.

Still holding @$8000 which I expect to happened, but I wouldn't be surprised if we go lower than that approaching weekends. So no bounce back, but there is support at least at this point. There could be FUD as mentioned, but come to think of it, who are the people behind this spread of FUD's across social media sites or it is just pure coincidence? Or possibly that they're preparing to buy at $7500'ish and just waiting for the right time.

Topic: Bitcoin Weekly Update: Bulls Last Stand - page 2. (Read 353 times)