Topic: BTC broke all major support lines, and the worse is yet to come. - page 4. (Read 1722 times)
November 26, 2018, 10:04:44 PM
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.
November 26, 2018, 02:58:14 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.
November 26, 2018, 08:46:30 AM
I see some very smart answers in here... congrats on that!
What we forget too many times is that of course the best is to buy absolute low and sell absolute high, but this will probably never happen, so there is big chunk in between where real money is made. So yes we are currently getting into low levels, nobody knows where bottom will be, but buying at prices 3 - 4k$ seems very reasonable for a longer term. Spare something in case we go below 3000, it doesn't have to be much, just something to feel better when you buy at 2000
So whoever is buying at the moment he is doing at least something right : He recognised major cycles well, as we are close to bottom. And this is, afterall, the most important!
What we forget too many times is that of course the best is to buy absolute low and sell absolute high, but this will probably never happen, so there is big chunk in between where real money is made. So yes we are currently getting into low levels, nobody knows where bottom will be, but buying at prices 3 - 4k$ seems very reasonable for a longer term. Spare something in case we go below 3000, it doesn't have to be much, just something to feel better when you buy at 2000
So whoever is buying at the moment he is doing at least something right : He recognised major cycles well, as we are close to bottom. And this is, afterall, the most important!
November 25, 2018, 07:41:29 PM
I see a lot of people supporting the 3k area, and I have a feeling that 3k will eventually break and we will see a short flash crash (true capitulation). No idea where that ultimate bottom will be though.
If enough of them believe something will happen, it likely won't, and let $3000 be exactly what people aim for. It will either drop well below that mark, or bottom out well above it.couldn't agree more, finding a perfect bottom is usually impossible, that is why you need to buy close to where you think that is. if you sold the break out of the triangle, then you are already in profit, and the best thing to do as i said a few times before , is to buy in portions. that 3000$ might not be the bottom, it could be 2500$ or 3500$ for that matter.
November 25, 2018, 06:35:13 PM
I see a lot of people supporting the 3k area, and I have a feeling that 3k will eventually break and we will see a short flash crash (true capitulation). No idea where that ultimate bottom will be though.
People are generally wrong when it comes to crypto. If enough of them believe something will happen, it likely won't, and let $3000 be exactly what people aim for. It will either drop well below that mark, or bottom out well above it.The latter is somewhat of a fact with how the price briefly dipped under $3500 today, and it's now waiting for support around $4000 to hold firm. Without a whale unloading thousands of coins at once it's doable.
It requires one spark to get people to fomo in, and when they start to believe the bottom is in, believe me, they will fomo in. I can't say how sustainable that growth will be, but at least it's a major contributor to a more positive sentiment.
People, regardless of how much risk they exposed themselves to, are going through a horrible time right now. I hope it will end soon.
November 25, 2018, 06:23:15 PM
I see a lot of people supporting the 3k area, and I have a feeling that 3k will eventually break and we will see a short flash crash (true capitulation). No idea where that ultimate bottom will be though.
November 25, 2018, 05:02:34 PM
November 25, 2018, 04:34:28 PM
It seems as if TA is in valid at this moment. Crypto is just moving in a direction we all cant understand at the moment. Hopefully after this bearish season comes the but run
Of course, TA does not work in such situations on the cryptocurrency market. At this moment, the fear has the greatest power and push investors to take decisions. At the moment the least experienced players lose the most. When "weak hends" sell everything - prices will start to grow.
November 25, 2018, 04:12:04 PM
if you are a day trader , or learning how to trade i suggest you give this a look > http://www.learntotradethemarket.com/price-action-trading-forex?gclid=EAIaIQobChMI6rOkxrXw3gIVZ7vtCh33Rww1EAAYASAAEgLn4_D_BwE
the easiest and the best strategy is the simplest one. i tried every indicator and other methods, but to me, the basic support/resistance lines with the basic price action is the most accurate. as nothing is 100% correct all the time, but if used right, you will most likely succeed.
this not a financial advice what so ever, trade at your own risk.
the easiest and the best strategy is the simplest one. i tried every indicator and other methods, but to me, the basic support/resistance lines with the basic price action is the most accurate. as nothing is 100% correct all the time, but if used right, you will most likely succeed.
this not a financial advice what so ever, trade at your own risk.
November 25, 2018, 04:05:11 PM
It seems as if TA is in valid at this moment. Crypto is just moving in a direction we all cant understand at the moment. Hopefully after this bearish season comes the but run
November 25, 2018, 04:03:54 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.
November 25, 2018, 12:55:12 PM
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.Although shitcoin always has a bad impact and only under 1% of the total has a positive value (can be applied in daily activities) but indeed the most influential is this hash war. They always fuss about selfishness, arrogance and their belief that with this hardfork, they are still confident that they can bring crypto forward more advanced, but the impact that has occurred to date is 180 degrees.
What's your opinion about those thing ?
November 25, 2018, 10:57:38 AM
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?!
November 25, 2018, 09:07:15 AM
"It is just an analysis bro and to identify trading opportunities, it is not a price prediction or some voodoo shit. This is basically also one of the reasons why a lot of newbies as well approach the market without thinking of using stop loss management. We are all retail traders, trying to feed off the whales manipulation, take it or leave it, TA is just there to let us know what we need to know about the market."
This.
I am a newbie at trading and i totally agree with what he said...... and in my opinion, BTC falling this "low" is a good thing...... there will be a buying point or might I say a re-buying entry point for mass people that will trigger .....well, something. But that just my opinion. ETH is kind of getting there.
Cheers to all, much love, stay safe and don't hate my first comment.
This.
I am a newbie at trading and i totally agree with what he said...... and in my opinion, BTC falling this "low" is a good thing...... there will be a buying point or might I say a re-buying entry point for mass people that will trigger .....well, something. But that just my opinion. ETH is kind of getting there.
Cheers to all, much love, stay safe and don't hate my first comment.
November 25, 2018, 08:25:52 AM
well indeed the market does what it wants to do, it does not really react to charts, but charts react to price. we as TA people in most cases see the same chart and think that same thoughts, when price broke the trend line bottom which was about 5900$ i personally sold out, and obviously i was not alone in this as my whole worth of btc is not even 0.00000000000000001% of the market cap. but it does accumulate with other traders. causes the panic and price dips.
fundamentals are of course way stronger than Technical, if tomorrow satoshi comes out and prove himself and say BTC is scam, no support and no TA will hold btc from going to 0. on the other hand if we get ETF approved, prices will care less about any Resistance on the chart and will shot to surpass ATH.
I really do not know the beef you guys have with TA, but TA is never a croc of shit!! Take it or leave it, once you understand the volatility of the market and you know what you are doing, the benefit of TA is to guide you and not to tell you exactly what will take place in the future.fundamentals are of course way stronger than Technical, if tomorrow satoshi comes out and prove himself and say BTC is scam, no support and no TA will hold btc from going to 0. on the other hand if we get ETF approved, prices will care less about any Resistance on the chart and will shot to surpass ATH.
Maybe I should start with the economical term of TA;
Quote
"Technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume."
It is just an analysis bro and to identify trading opportunities, it is not a price prediction or some voodoo shit. This is basically also one of the reasons why a lot of newbies as well approach the market without thinking of using stop loss management. We are all retail traders, trying to feed off the whales manipulation, take it or leave it, TA is just there to let us know what we need to know about the market.
November 24, 2018, 08:26:46 PM
my strategy is to buy into this market slowly as the bull run could happen any time, but major buys will be around 2900-3100$ . i might increase my buying postion at 3500$ area if i see some good price action.
It would be hilarious if the $3000 level (which most people have so much confidence in) turns out to be nothing but a wall of paper sellers easily burn through with their fierce selling pressure.
Don't forget that plenty of stop loss orders will be lined up just under or over $2900 which might tempt whales to troll the market even further by triggering these orders. It pays off to set up buy orders well below that level just in case. If they are triggered, you at least made sure to have bought coins well below that support level you probably wouldn't be able to buy at by doing it manually.
if that level does not hold, you simply get out of the market and wait for the next support at 1800$, also what you mentioned is right, i assume a wise man won't go balls deep at any level,i will always keep fiat just in case. but one thing for sure is the SL hunting, i don't usually set a SL, i wait for a candle close of 4H at least. i literately rode every way up of the prev large triangle. i knew for sure i would sell the moment it breaks, but i never sat a SL, i waited for a candle to close and it always closed above the trend line so i was never worried, the only time i did exist was the time i published this topic. it was a huge candle closed below support, and it was a very clear sign for more dip. so my advice is to always wait for a candle close to avoid most of the manipulation.
Thanks for the analysis. Everything is very sensibly described. I anticipate a similar situation, but still hoped for a rebound. Now I take note of the new information.
For those who believe that charts and technical analysis is nonsense, I want to ask: What are you guided by when doing price movement analysis?
I think that I can’t wait for an answer, so I just want to write. Only technical analysis and charts can give a real idea of the market situation and price movement. Without them, you generally will not have any idea about the possible movement of prices.
For those who believe that charts and technical analysis is nonsense, I want to ask: What are you guided by when doing price movement analysis?
I think that I can’t wait for an answer, so I just want to write. Only technical analysis and charts can give a real idea of the market situation and price movement. Without them, you generally will not have any idea about the possible movement of prices.
i can answer for them
. those people do not look at the charts , they buy BTC whenever they feel like it and whenever they have the cash, and keep waiting for ATH, the moon boys and the hodlers will sell at 20k this is one thing for sure, but you know what's going to happen later? btc will go to 40k only then they will decide to buy, by then we going to sell at 40k and wait for them to give it back at 20k. November 24, 2018, 07:30:08 PM
Thanks for the analysis. Everything is very sensibly described. I anticipate a similar situation, but still hoped for a rebound. Now I take note of the new information.
For those who believe that charts and technical analysis is nonsense, I want to ask: What are you guided by when doing price movement analysis?
I think that I can’t wait for an answer, so I just want to write. Only technical analysis and charts can give a real idea of the market situation and price movement. Without them, you generally will not have any idea about the possible movement of prices.
For those who believe that charts and technical analysis is nonsense, I want to ask: What are you guided by when doing price movement analysis?
I think that I can’t wait for an answer, so I just want to write. Only technical analysis and charts can give a real idea of the market situation and price movement. Without them, you generally will not have any idea about the possible movement of prices.
November 24, 2018, 07:25:35 PM
my strategy is to buy into this market slowly as the bull run could happen any time, but major buys will be around 2900-3100$ . i might increase my buying postion at 3500$ area if i see some good price action.
It would be hilarious if the $3000 level (which most people have so much confidence in) turns out to be nothing but a wall of paper sellers easily burn through with their fierce selling pressure.
Don't forget that plenty of stop loss orders will be lined up just under or over $2900 which might tempt whales to troll the market even further by triggering these orders. It pays off to set up buy orders well below that level just in case. If they are triggered, you at least made sure to have bought coins well below that support level you probably wouldn't be able to buy at by doing it manually.
November 24, 2018, 06:12:59 PM
About 1 month recently, the cryptocurrency market has been making my surprise. The fluctuating of the exchange rate and the sharp decrease is always. BTC has broken all about support zone, and I think it will continue to decrease in the next day because of the panic sell of the investors.
November 24, 2018, 05:06:05 PM
24/11/2018 9:55 pm (GMT)
UPDATE : BTC is down about 30% from the time I posted this, some moon boys probably did not like what i said, some said TA is B.S . but if even 1 person took my analysis seriously and benefited from this i am glad enough.
currently btc is trading at 3940$ on binance .
we will see some relief from here, but most likely only a bear flag that will only bring another dip.
my strategy is to buy into this market slowly as the bull run could happen any time, but major buys will be around 2900-3100$ . i might increase my buying postion at 3500$ area if i see some good price action.
as i mentioned in one of the comments, the only way for BTC to really be in a bull market is with a daily close above 7500$ with some huge volume, aside from that any surge is nothing but a good chance to short.
UPDATE : BTC is down about 30% from the time I posted this, some moon boys probably did not like what i said, some said TA is B.S . but if even 1 person took my analysis seriously and benefited from this i am glad enough.
currently btc is trading at 3940$ on binance .
we will see some relief from here, but most likely only a bear flag that will only bring another dip.
my strategy is to buy into this market slowly as the bull run could happen any time, but major buys will be around 2900-3100$ . i might increase my buying postion at 3500$ area if i see some good price action.
as i mentioned in one of the comments, the only way for BTC to really be in a bull market is with a daily close above 7500$ with some huge volume, aside from that any surge is nothing but a good chance to short.
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