Topic: Bitcoin will be dumping soon - What do you say regarding the chart? (Read 610 times)
November 15, 2020, 10:36:14 AM
I think it will just bounce up and down on its range $16200 - $15700 until it will attempt to break the resistance but the RSI already hits 78 that meant overbought. It could stick to this level until December before it will shoot up again to break the $16500. Meanwhile, there are altcoins that are also experiencing bullrun.
November 15, 2020, 10:06:12 AM
In my opinion, no one predicts or provides the actual or correct information about Bitcoin, because past of the year, we see hop the bitcoin ups and downs. therefore, it will be increasing or decreasing any time. But, I think, it will take the better position before the previous years.
Yes, no one can say when Bitcoin will pump and dump because the crypto market is not stable. Now the price is very high may go down after a while. But compared to the last few years Bitcoin has pumped a lot. the charts do not provide accurate signals many predict the future. I don't think the price of Bitcoin will go down. It is likely to rise further this year as demand continues to grow.
Maybe it still goes down for a while, but the price will go up again at the right time, and it is just another correction of the price.
But we have a chart that can help us analyze where bitcoin prices will go, and as long as we can use the time to buy, sell, or just watch the market, we will survive and pass these situations.
Yes, the bitcoin price will rise further this year. It will break every high price and will make new ATH.
But if somehow, after this, we only see another dump for the price, we need to be ready because it still unknown where bitcoin will go.
November 15, 2020, 09:12:35 AM
In my opinion, no one predicts or provides the actual or correct information about Bitcoin, because past of the year, we see hop the bitcoin ups and downs. therefore, it will be increasing or decreasing any time. But, I think, it will take the better position before the previous years.
We cannot just look at the market habits that occur in the following year, because every year there are different factors, so it is not certain that at the end of this year the movement of bitcoin will be bearish (dump). One of the impacts of paypal working with bitcoin is also one of the things that we need to discuss because this will also have a huge impact on the movement of bitcoin.
I think the word dump is less rational with the previous positive news, maybe if it is said to be a correction it could happen, if bitcoin can re-break the lowest price at 15k as a strong support area at the moment.
It is interesting to discuss it, it seems that if you look at the current chart it is not impossible that bitcoin will be corrected again with a possible move in the 15k area as a support foothold that must be broken if bitcoin is going to experience the dump.
Of course, the foothold to get a pulback in the new target area of resistance at 20k can occur in the near future, 15k as a support point and 20k as a target area that could occur.
November 15, 2020, 09:07:09 AM
In my opinion, no one predicts or provides the actual or correct information about Bitcoin, because past of the year, we see hop the bitcoin ups and downs. therefore, it will be increasing or decreasing any time. But, I think, it will take the better position before the previous years.
We cannot just look at the market habits that occur in the following year, because every year there are different factors, so it is not certain that at the end of this year the movement of bitcoin will be bearish (dump). One of the impacts of paypal working with bitcoin is also one of the things that we need to discuss because this will also have a huge impact on the movement of bitcoin.
I think the word dump is less rational with the previous positive news, maybe if it is said to be a correction it could happen, if bitcoin can re-break the lowest price at 15k as a strong support area at the moment.
November 15, 2020, 07:47:05 AM
In my opinion, no one predicts or provides the actual or correct information about Bitcoin, because past of the year, we see hop the bitcoin ups and downs. therefore, it will be increasing or decreasing any time. But, I think, it will take the better position before the previous years.
Yes, no one can say when Bitcoin will pump and dump because the crypto market is not stable. Now the price is very high may go down after a while. But compared to the last few years Bitcoin has pumped a lot. the charts do not provide accurate signals many predict the future. I don't think the price of Bitcoin will go down. It is likely to rise further this year as demand continues to grow.
November 15, 2020, 01:54:55 AM
In the last few days ago BTC/USD had been overbought with reference to 4 Hour, Daily and weekly charts as indicated by RSI its obvious that a sudden dump is very imminent, I am not surprise happen now, it bound to happen, however the pullback might be shortlive because the market is still very bullish, the might touch the last support at $15565 and resume the uptrend continuation, there are positive fundamental news relating to BTC, I don't conceive or envisage the price to dump massively to $14K.
November 15, 2020, 01:39:57 AM
Dominance is not doing that bad neither, we were at around 63.7% levels just less than a week ago, and we did broke over 65% that is true and the fall only made it 64.8% or so, which means we are still in a very bitcoin dominated crypto world. I want bitcoin to keep increasing and reaching new highs but I also want altcoins to increase 2x faster so that bitcoin dominance would fall.
In a world where bitcoin is 25k, I want ethereum to be 2k as well, ethereum is just an example, whatever else you can think of should go up that way as well, so in that scenario we have bitcoin going up a lot and breaking the all time high so everything is great for bitcoin investors, but everything else takes a bit of power from bitcoin as well and make altcoins credible too.
That scenario can happen as long ad the trend will not eventually snaps, those people who thinks bitcoin will dump soon are the people who do not have enough experiences. We are now in the markup where the prices are keep breaking out and keep forming a new base. The accumulation phase was already finished and it is the reason why the bitcoin enter already in markup phase. We are still in the beginning of the markup phase and the good thing is there are huge possibilities that the bitcoin can now surpass the $20,000. The dominance is keep rising and it is indicating that there are now investors who are putting more money on it and they do not have care on alts anymore. In a world where bitcoin is 25k, I want ethereum to be 2k as well, ethereum is just an example, whatever else you can think of should go up that way as well, so in that scenario we have bitcoin going up a lot and breaking the all time high so everything is great for bitcoin investors, but everything else takes a bit of power from bitcoin as well and make altcoins credible too.
November 14, 2020, 12:21:40 PM
Dominance is not doing that bad neither, we were at around 63.7% levels just less than a week ago, and we did broke over 65% that is true and the fall only made it 64.8% or so, which means we are still in a very bitcoin dominated crypto world. I want bitcoin to keep increasing and reaching new highs but I also want altcoins to increase 2x faster so that bitcoin dominance would fall.
In a world where bitcoin is 25k, I want ethereum to be 2k as well, ethereum is just an example, whatever else you can think of should go up that way as well, so in that scenario we have bitcoin going up a lot and breaking the all time high so everything is great for bitcoin investors, but everything else takes a bit of power from bitcoin as well and make altcoins credible too.
In a world where bitcoin is 25k, I want ethereum to be 2k as well, ethereum is just an example, whatever else you can think of should go up that way as well, so in that scenario we have bitcoin going up a lot and breaking the all time high so everything is great for bitcoin investors, but everything else takes a bit of power from bitcoin as well and make altcoins credible too.
November 14, 2020, 09:04:30 AM
Many trader are seriously worry about what they are hearing concerning bitcoin dump soon which is spreading everywhere in the market. Bitcoin will dump soon but not this year 2020 which remain few month to end the year which many trader still have more profit to make before it dump according to their research. Many trader think bitcoin will dump soon, that is making them to stop their trading in the market not to fall into loss base on, the information that is spreading all over the market place that bitcoin will dump soon because the way it's
rising every day in the market that is causing other cryptocurrencies to reduce in the market.
rising every day in the market that is causing other cryptocurrencies to reduce in the market.
November 14, 2020, 08:18:08 AM
There are still many things that could happen but time will tell and I am still looking forward to seeing the new ATH which is $20-25k, seems too much expectation? well, feel free to predict and set your standard. I am not good at technical analysis so I don't even take a look at it. A lot of predictions already happened for this thing, some are in the side with pumping and some or in dumping but we can not say who will make the good prediction because no one can do, it is unpredictable.
November 14, 2020, 07:37:55 AM
Hmm, dumping to what levels though? less than 5 digits? then if this happens, we couldn't stop it. Actually, it will be good though, another opportunity to get bitcoin "very cheap". But then again, charts are not perfect though, it could be a guide, and anyone can right their own lines to fit their narratives. And I'm sure as bitcoin trader/investors, corrections are bound to happen. It' just how you are going to react on it, simply as that.
November 14, 2020, 07:31:47 AM
Bitcoin will be dumping soon - What do you say regarding the chart?
Its looks like Bitcoin is currently flying in the strong resistance zone and possible to dump to previous level or there could be a price correction soon https://prnt.sc/vgsoaa https://prnt.sc/vgsugo. What do you think?
Its looks like Bitcoin is currently flying in the strong resistance zone and possible to dump to previous level or there could be a price correction soon https://prnt.sc/vgsoaa https://prnt.sc/vgsugo. What do you think?
Anything can happen mate because BTC and the crypto market is so unpredictable these days. Anyone can say that it's gonna pump, or gonna dump, etc., based on their instincts and TAs. However, we can be wrong in our analysis too. What if the dump we expect is pumping instead? Yeah, it's very possible and it did happen many times already. We just have to manage our risks both time and money in trading cryptos.
November 14, 2020, 07:15:41 AM
Correction is inevitable so we should not expect that the price will continue to go up even more without a correction or consolidation. Dump and correction are not the same and they have big differences. When you say dump, it only means that the selling pressure is high wherein it may considered as reversal where the uptrend already reached its peaked and after a dump you will see a lot of breakdowns that indicating the beginning of a downtrend while correction is different because it indicate a healthy market structure if a correction happen as long as it is not a deep retracement. Shallow retracement is the ideal retracement because it indicates a bullish move where we can see the price of the bitcoin to have a momentum again.
November 14, 2020, 05:10:04 AM
Its looks like Bitcoin is currently flying in the strong resistance zone and possible to dump to previous level or there could be a price correction soon
interestingly a few days ago they ( news channels ) said that the price would drop to $15,300, the price was at $15400 and hours later it started to rise a lot to the point of reaching $16,100. I kept asking myself: how can they make so many mistakes in price prediction? but this is not surprising because whenever the news channels do some price forecasting, the opposite of the forecast they do always happens, and this has happened since years ago, it seems that there is always someone who reads the news and then buys or sells only for news channels to err in price predictions.
November 14, 2020, 04:28:48 AM
Ethereum is filled with potential and should be trading above it current price especially with all the DeFi volume it gather few months back and the upgrade (ETH 2.0) showing positive signs of becoming a reality.
If a dump was to occur which is the obvious bet since the price has increased massively, it won't be much of a dump in price instead a correction which will be eaten up very fast since the overall view on the market is bullish.
Would you say that currently is still a good time to invest in Bitcoin and Ethereum in the long-term. Or rather wait a couple of months more and hope that there will be a bigger crash again (like the one we have seen 2018).
November 14, 2020, 04:25:00 AM
bitcoin is not currently and it is even difficult to predict, because the assumption that bitcoin is a long-term investment has been debunked in recent months, bitcoin has experienced a short-term investment. because the price easily and quickly goes down and up in a matter of days, some even got a sharp shot overnight.
be prepared for those who hold bitcoin that you will receive the results of what has been holding.
Can you elaborate on how you believe that this has been "debunked"?
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November 14, 2020, 02:43:51 AM
I am not an expert. But shouldn't we not also look at the ETH&BTC pairs to evaluate whether BTC is going to increase or fall? The last two days ETH seems to stabilize relative to BTC, with even a slight upwards trend.
Maybe some whales are shifting their funds as Ethereum is still a bit farther away from its ATH? What do you think?
Maybe some whales are shifting their funds as Ethereum is still a bit farther away from its ATH? What do you think?
Well bitcoin lost some dominance which resulted to the increase the altcoin market recorded couple of days back before bitcoin took back the momentum and increase to the $16,000 price range. Ethereum is filled with potential and should be trading above it current price especially with all the DeFi volume it gather few months back and the upgrade (ETH 2.0) showing positive signs of becoming a reality.
If a dump was to occur which is the obvious bet since the price has increased massively, it won't be much of a dump in price instead a correction which will be eaten up very fast since the overall view on the market is bullish.
November 14, 2020, 02:02:06 AM
It can drop, that’s why there is risk involved.
We should minimize the risk before the price drops, especially if the price drops too deep. Many people are not ready with that, and make them fast selling their bitcoin without knowing that drops are just for another correction. If they can be patient for a while and still hold their bitcoin, they will profit in the next days. They don't know when the price can back to the high price, which makes them panic to see the price drops.Maybe they need to learn more about bitcoin price volatility and realize that bitcoin prices can go up and down anytime. So when the price drops, they can calm down and know what they need to do. If they think that cut-loss will be a good solution for them, they can do that. Otherwise, they can still hold their bitcoin for a while.
November 14, 2020, 12:32:57 AM
It can drop, that’s why there is risk involved. But on the other hand we might be in for another big bull run, and after the bull run the price can still crash again and start from scratch. Although one thing I do know for sure is that after every ATH price, the low that follows next will be likely above the lows we had in the previous years.
So, if you invested at the lowest you will not be losing much, or you can still be able to sell at the early time when the price is dropping. I don’t know about these charts, I have also seen charts that are predicting bull run and new ATH and here is another one saying there will be a dump. So, we are not sure, and that goes to show that these analysts are not even sure what they are doing.
So, if you invested at the lowest you will not be losing much, or you can still be able to sell at the early time when the price is dropping. I don’t know about these charts, I have also seen charts that are predicting bull run and new ATH and here is another one saying there will be a dump. So, we are not sure, and that goes to show that these analysts are not even sure what they are doing.
November 13, 2020, 05:53:54 PM
in this case I think all guesses or predictions are almost correct. and all have the right to make assumptions according to their knowledge. I conclude that from a personal point of view there will indeed be a slight correction where the chart indicates a decline. will not be large, just exhaust the pump that is full enough. I agree that Bitcoin has been the main protagonist for its moves recently. so those who hold bitcoin remain vigilant and don't waste it when they see special moments.
The assumption that anyone will not make something happen will be able to change what has happened. let everyone have their own assumptions, then the more is something good and we can sort out what we think is close to what we assume ourselves. sometimes it takes assumptions as a comparison and we can easily analyze it well, because we have to get used to seeing everything from the point of view.
bitcoin is not currently and it is even difficult to predict, because the assumption that bitcoin is a long-term investment has been debunked in recent months, bitcoin has experienced a short-term investment. because the price easily and quickly goes down and up in a matter of days, some even got a sharp shot overnight.
be prepared for those who hold bitcoin that you will receive the results of what has been holding.
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