Topic: BTC broke all major support lines, and the worse is yet to come. - page 3. (Read 1722 times)
December 03, 2018, 09:10:28 AM
I'm still targeting $3500 US but I will accumulate in small steps along the way also.
December 02, 2018, 08:07:41 PM
a zoom in the charts, for those who are interested in smaller time frames > https://bitcointalk.org/index.php?topic=5079220.new#new
December 02, 2018, 01:59:44 PM
The breakdown of important support levels should be expected because the trend is too steep up we have seen in recent years.
The reason for the breakdown in my opinion was the situation with the constant transfer of the date for ETF futures. The uptrend lasted more than 2 years and the break of the strong trend is a sign of a deep correction. But maybe it's for the better after a big correction there is always a chance of even more impulsive upward movement. We will wait, time will tell.
The reason for the breakdown in my opinion was the situation with the constant transfer of the date for ETF futures. The uptrend lasted more than 2 years and the break of the strong trend is a sign of a deep correction. But maybe it's for the better after a big correction there is always a chance of even more impulsive upward movement. We will wait, time will tell.
December 02, 2018, 01:36:13 PM
The volume is still better than what it used to be before all of this happened because people (specially the rich people) have been gathering bitcoin from these prices thinking it is a good low price to get to be prepared for the future. Do you know what tells ?
People believe that 4 thousand dollars is a much better place to buy compared to 6 thousand dollars, which tells me the price is barely moving anymore downwards because if it did there would be even more volume to buy, if people think 6 thousand dollars is a decent price point to get into and believe that 4 thousand is even greater don't you think same people would say it is AMAZING to buy from 3 thousand as well ? Of course there is still bad things going around and it would be really hard to convince people otherwise but we need to see the good in bad as well.
People believe that 4 thousand dollars is a much better place to buy compared to 6 thousand dollars, which tells me the price is barely moving anymore downwards because if it did there would be even more volume to buy, if people think 6 thousand dollars is a decent price point to get into and believe that 4 thousand is even greater don't you think same people would say it is AMAZING to buy from 3 thousand as well ? Of course there is still bad things going around and it would be really hard to convince people otherwise but we need to see the good in bad as well.
December 01, 2018, 03:15:20 AM
This is what I've scared of. When bitcoin will fall down, I assume it will recover but I do not when it could be. There is no momentum for cryptocurrency as of now and we are all waiting for a news that will make the market green. Leaving cryptocurrency is such a fool decision, we must be positive no matter what happens.
Who really cares when? What matters is now and what matters in the long run is the future. I know things may be a little bit scary for some, but in the real sense, what is there to be scared of? We have a market that is certainly saying I have a lot of goodies to give out in the short term at very good price and then we have some people who are just busy forgetting the fact that the market's future is still very great and instead of taking advantage of it now, they are busy getting themselves worried over a market that is low in value just in the short term. If people cannot be taking advantage now, I wonder when they will 
November 30, 2018, 01:37:46 AM
A lot of investors has been quitting, this is really frustrating as people keep losing money day by day. Bull run has been predicted a lot of times but what we see every time is not we expect, it’s always the opposite of everything and the price has dropped low to $3735. I don’t even think there will be bull run like some are still predicting on December. I’m looking forward to next year as someone once predicted.
November 29, 2018, 10:36:20 PM
Did you see the volume today? It was 6.5 billion! That's almost 10% of overall market cap. Is that a signal in TA?
Based on which exchanges?
On the exchanges I watch (Bitstamp, Bitfinex, Bitmex), volume was down yesterday vs. the day before. There's been decent volume on this bounce overall, but it still doesn't compare to the dumps earlier in the month. I was hoping to see a higher volume bottom, to be honest.
ok it was not exactly 6.5B , but anyway he means the total volume of major exchanges which is calculated by coinmarketcap.
here https://coinmarketcap.com/currencies/bitcoin/
November 29, 2018, 09:41:59 PM
Did you see the volume today? It was 6.5 billion! That's almost 10% of overall market cap. Is that a signal in TA?
Based on which exchanges?
On the exchanges I watch (Bitstamp, Bitfinex, Bitmex), volume was down yesterday vs. the day before. There's been decent volume on this bounce overall, but it still doesn't compare to the dumps earlier in the month. I was hoping to see a higher volume bottom, to be honest.
November 29, 2018, 08:20:52 PM
Did you see the volume today? It was 6.5 billion! That's almost 10% of overall market cap. Is that a signal in TA?
High volume with no significant increase in price is usually a sign for reversal, and still i do not really give volume that much of a thought, i use plain support / resistance and price action
November 29, 2018, 04:25:18 PM
Did you see the volume today? It was 6.5 billion! That's almost 10% of overall market cap. Is that a signal in TA?
November 29, 2018, 04:14:14 PM
For me the current situations looks like a good time to buy. We are risking, it's trading, it's crypto market, everything is uncertain and volatile. Sure, BTC could resume its falls. Momentum remains to the downside, despite the recovery. But we aren't focusing on the coming few weeks only, right? As a theoty, whales that have accumulated Bitcoin outside the exchanges are dumping it on the market to trigger a broader sell and to push prices down. And after prices dropped sharply, they will accumulate some more and eventually push prices higher. So, summing up, no panic selling for me. I'm holding what I have and planning to buy more.
It is most definitely a very good time to buy; there is no doubt about that. One thing I am sure of is that we have a market that is growing daily and is giving a chance to everyone to not have a chance to be a part of it. It is just very unfortunate that instead of some people to be seeing the good side to getting into the market now, they are busy seeing the things they should not be seeing which is making them all panicky and then missing out on great opportunities like we are having now. The worse may be yet to come, but rather than approaching FUD as a problem, it is always better to approach it as an opportunity.
opportunity ? FUD ? huh ! what are you talking about. i am not satoshi and bitcoin is not my wife. I want to make $$ . i don't know why are you into crypto if not for that ! . when i said the worst is yet to come and sold all of my btc the price was about 5.7k , it went like 37% down. if i wana buy all in right now, it means i am getting 25% discount. should the price go to back to 5.7k again " the time i started the FUD' i would have at least 36% more btc. if i catch another low, i get even more BTC.
there is no FUD here,i am just an average dude and most people who read my shit are average folks with tiny to no impact on the market, i will always SELL btc whenever the chance is there, i could care less where is it going to the next month or year, my target is to get as many BTC as i can before the bull run begins. cheers
November 29, 2018, 06:07:19 AM
For me the current situations looks like a good time to buy. We are risking, it's trading, it's crypto market, everything is uncertain and volatile. Sure, BTC could resume its falls. Momentum remains to the downside, despite the recovery. But we aren't focusing on the coming few weeks only, right? As a theoty, whales that have accumulated Bitcoin outside the exchanges are dumping it on the market to trigger a broader sell and to push prices down. And after prices dropped sharply, they will accumulate some more and eventually push prices higher. So, summing up, no panic selling for me. I'm holding what I have and planning to buy more.
It is most definitely a very good time to buy; there is no doubt about that. One thing I am sure of is that we have a market that is growing daily and is giving a chance to everyone to not have a chance to be a part of it. It is just very unfortunate that instead of some people to be seeing the good side to getting into the market now, they are busy seeing the things they should not be seeing which is making them all panicky and then missing out on great opportunities like we are having now. The worse may be yet to come, but rather than approaching FUD as a problem, it is always better to approach it as an opportunity.
November 29, 2018, 04:16:22 AM
A few days ago i was still bullish on bitcoin as it stayed strong above major support trend
Doesn't the fact that bitcoin went below these "support lines" argue against the validity of using TA to trade? I'm a long-time skeptic of technical analysis, and this just shows me that the market does what it wants with no regard to these fancy voodoo TA techniques and terms.we see new shit coins every day, most which has no purpose, many scam projects. and recently the hash-war of BCH is one simple example of why the world still think crypto is a risky and easily manipulated market.
You got that right, although I'd argue that "the world" is hardly even aware that there are any cryptocurrencies other than bitcoin. It's a very small population of people who are even aware of these shitcoins, ICO scams, and now this hash war thing. Shitcoins are destined to crash to zero--or at least most of them are, and I don't need TA to verify that for me. One of these days people are going to wake up and realize that no merchant is ever going to accept them and there's no practical use for them, not even as a store of value because of the extreme volatility.Anyone who thinks TA is bullshit, should attempt trading the market without the understanding of the market. At least, this makes it simple, as the market has broken a major support, then you look for the price action in the next support, while shorting the market at that point. Plain simple!
November 28, 2018, 06:57:21 PM
The chart of the bitcoin is becoming good again, the price of the bitcoin reached $4000 per each again. There are now major support lines that can ensure that the bitcoin will not fall under $4000 per each again.
i have to disagree, the chart of bitcoin still look very bearish. i am not giving you any exact entries what so ever, but i suggest you be careful and do not fomo.
as for the support lines , the strongest support BTC had by far is the 5800-6200 area, that was the only support one could bet on, held well for the whole year, the 4k support is nothing, we could pass through it like a hot knife through butter. the only support before 2700-3100$ is the recent low of 3600$.
should we continue to go up (unlikely) the 5800 will be the strongest resistance ever, you will be surprised about the selling pressure coming on the way.
November 28, 2018, 11:30:54 AM
The demand is not there and it seems like there is an over-supply of the coins. The situation will only improve if the big players resume their purchases. And that looks unlikely for the next 1-2 years.
Miner is also in this condition, in a very big loss position. All players seem to start having to think twice about entry, given that the recent events have taken place quite to the surprise of many. However, this condition is sure that it only applies temporarily
November 28, 2018, 08:40:20 AM
The chart of the bitcoin is becoming good again, the price of the bitcoin reached $4000 per each again. There are now major support lines that can ensure that the bitcoin will not fall under $4000 per each again.
November 28, 2018, 06:34:54 AM
the worse has begun to come, the price has gone down some days to reach $ 3800, I think there will be a lot of investors going away because they have been waiting to start at the beginning of the year when prices continue to decline slowly and now they are falling far. this is not good for all and hopefully the market will improve soon and crypto has its glory again as soon as possible
To be successful you should not think like the average person, for the average person BTC is done, and it is never going to 20k again, the smart investors have been looking for cheap crypto since last year. i am almost certain that we are pretty close to the bottom, so unless you are a day trader, then this is pretty much the wrong time to sell, most people bought btc for 8-10-15k and they are selling it now to cut loss! it's very stupid that they have waited this long and giving up now.
what I am worried about is a few months of side-ways market where price would be ranging from 2-6k for months if not years before the bull run starts, more people will fold , but those who hang in there are going to get the reward.
this is not a financial advice by any means, but buying btc from 2 to 4k is something you will never regret in 3 years from now.
seconded. the moment i saw bitcoin floating on $6k-$7k, i start to plan to accumulate more. now drop another 3k. it is like on black friday sales. its good to shake off weak hands, end of 2017 do alot of damage to the market. panic sell now is not a smart move.
November 27, 2018, 06:33:04 PM
the worse has begun to come, the price has gone down some days to reach $ 3800, I think there will be a lot of investors going away because they have been waiting to start at the beginning of the year when prices continue to decline slowly and now they are falling far. this is not good for all and hopefully the market will improve soon and crypto has its glory again as soon as possible
To be successful you should not think like the average person, for the average person BTC is done, and it is never going to 20k again, the smart investors have been looking for cheap crypto since last year. i am almost certain that we are pretty close to the bottom, so unless you are a day trader, then this is pretty much the wrong time to sell, most people bought btc for 8-10-15k and they are selling it now to cut loss! it's very stupid that they have waited this long and giving up now.
what I am worried about is a few months of side-ways market where price would be ranging from 2-6k for months if not years before the bull run starts, more people will fold , but those who hang in there are going to get the reward.
this is not a financial advice by any means, but buying btc from 2 to 4k is something you will never regret in 3 years from now.
November 27, 2018, 05:52:36 PM
the worse has begun to come, the price has gone down some days to reach $ 3800, I think there will be a lot of investors going away because they have been waiting to start at the beginning of the year when prices continue to decline slowly and now they are falling far. this is not good for all and hopefully the market will improve soon and crypto has its glory again as soon as possible
November 27, 2018, 05:26:19 PM
Today it broke 4000$ , now struggling to rise above it but I don't think it can , next support is around 3800$ , Let's hope it doesn't break that or it would go to 3000$ , it all happened in one week from 6300$ to 3800$ , hows that possible?!
the bears are losing moment, a bullish divergence is starting to show on the charts, but the volume is still low, and I do not think this is the beginning for the rally but rather a correction, i will be looking for short signals. i could be wrong that's one thing for sure, but what it makes more sense to short the market now,at this point we will see many bull traps, a good 5-15% increase , people start thinking this is it, they go all in , and get liquidated.
unless you are buying for the long term, then it's stupid to long now. but if you are just trying to hunt for bottom then it makes sence to buy every dip with small positions, so that your average buying price will be reasonable.but if you are a day trader, then you will be set for bull traps, the low 4k will most likely be the new resistance for now, hard to break to the up side, of course when i say break i mean at least a 4hr candle close and not a 1 or 5 mins candles.
but overall , the bulls are coming back, i do think the 3500 support is starting to become strong but it might not sustain, am still looking for 2.9-3.1k . but i will buy again at 3.4k to 3.6k if the i see similar rejection to the last one.
so the low 4k area did really become resistance, and we did bounce from there, i shorted at 4100 and am closing my position now at 3792.
the bulls started to show some strength, the 3500-3700 will become a strong support. since the fall no level held the price like this, so it's making me a bit worried about shorting atm. following Binance chart any close 4 hr close below 3700 will be a good short signal.
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