Devastating signal: bear market, 6.4k support, 12.4 resistance

EdenHazard

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Quote from: Bossian on November 24, 2019, 11:22:45 AM

I actually bought at 6870 USD so the price did went below 7k but for a very short time.

Anyway I think it gets close to 6.5k soon, but after that there should be a nice bounce back towards 9k (see fractal published by NebraskaGooner on Twitter).

It's just touched $6,500 few hours ago , daymn ... I need to prepare more cash on this.

Will follow the drop price until even fall further to $3,500 just like what I did back in March this year Grin

. Up for 250% and for now a slight negative 30 to 40 percent, still in the safe line.
Now loading my bag with some coins ..

Quote from: Lucius on November 24, 2019, 11:37:37 AM

Quote from: EdenHazard on November 24, 2019, 09:05:33 AM

Wake me up if my support at $7,000 has been broken Grin

.

Well, that actually happened, the very same day I wrote my last post here, you seem to have slept through, which is actually good for you Wink

I should remain awake when that does happens Grin

.

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Quote from: Lanatsa on November 24, 2019, 12:25:42 PM

Quote from: Clement Kaliyar on November 24, 2019, 12:20:22 PM

Quote from: Yaunfitda on November 20, 2019, 09:31:59 PM

At least the OP has open our eyes that $6k-$7k is now in the radar and I do hope that with this warning, traders specially newbies will learn and adjust their strategy. To be fair, there are a lot of TA's floating around months ago that we are in the entering a bearish trend, but that artificial pump (because of China news) put that on hold, but now we are back and this is the reality, no more artificial pump.

Now the support of 6,4K support seems real as the market is floating around 7k and it is not looking great as the market can go down further from this stage and for the market to break a couple of support level is alarming in a normal market but i am just guessing how the market will end this year.

6900+ at the moment and reaching out that support wont really be that far.Seems like there would be more pressure to put the price down on going for the preparation of
halving event.We don't know if this is part of the plan with big players but who knows? Price manipulation is inevitable.They are just making the movement go too slow just
for the public wont notice such motive. (just my speculations though). Grin

I would be surprised if we make new lows at the end of a year after the devestating end of 2018. Sub 7000$ levels make me a little shaky tho. At least that region is a nice base level for the next bull run at some point up until 2021.

Lanatsa

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Quote from: Clement Kaliyar on November 24, 2019, 12:20:22 PM

Quote from: Yaunfitda on November 20, 2019, 09:31:59 PM

At least the OP has open our eyes that $6k-$7k is now in the radar and I do hope that with this warning, traders specially newbies will learn and adjust their strategy. To be fair, there are a lot of TA's floating around months ago that we are in the entering a bearish trend, but that artificial pump (because of China news) put that on hold, but now we are back and this is the reality, no more artificial pump.

Now the support of 6,4K support seems real as the market is floating around 7k and it is not looking great as the market can go down further from this stage and for the market to break a couple of support level is alarming in a normal market but i am just guessing how the market will end this year.

6900+ at the moment and reaching out that support wont really be that far.Seems like there would be more pressure to put the price down on going for the preparation of
halving event.We don't know if this is part of the plan with big players but who knows? Price manipulation is inevitable.They are just making the movement go too slow just
for the public wont notice such motive. (just my speculations though). Grin

Clement Kaliyar

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Quote from: Yaunfitda on November 20, 2019, 09:31:59 PM

At least the OP has open our eyes that $6k-$7k is now in the radar and I do hope that with this warning, traders specially newbies will learn and adjust their strategy. To be fair, there are a lot of TA's floating around months ago that we are in the entering a bearish trend, but that artificial pump (because of China news) put that on hold, but now we are back and this is the reality, no more artificial pump.

Now the support of 6,4K support seems real as the market is floating around 7k and it is not looking great as the market can go down further from this stage and for the market to break a couple of support level is alarming in a normal market but i am just guessing how the market will end this year.

Lucius

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Quote from: EdenHazard on November 24, 2019, 09:05:33 AM

Wake me up if my support at $7,000 has been broken Grin

.

Well, that actually happened, the very same day I wrote my last post here, you seem to have slept through, which is actually good for you Wink

Quote from: Bossian on November 24, 2019, 11:22:45 AM

Anyway I think it gets close to 6.5k soon, but after that there should be a nice bounce back towards 9k (see fractal published by NebraskaGooner on Twitter).

It seems that way, we see a few attempts for $7500, but it always bounces back close to $7000 which indicates that another drop will (can) occur. I'm not an expert on TA, although I think some things can be learned from that, which is also evident in some of the speculation here on the forum.

I would like to see $10k before the end of this year, simply for some psychological reasons and to break FUD about "price is going to $3000 again".

Bossian

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Quote from: EdenHazard on November 24, 2019, 09:05:33 AM

Quote from: Lucius on November 22, 2019, 07:33:16 AM

Quote from: EdenHazard on November 22, 2019, 01:21:55 AM

I would mad if by the end of this month my support break below $7,000 , jeez.

Only those who have no idea how Bitcoin has behaved in the past can think the way you and the vast majority think. Halving will happen in May 2020, and it is very likely that it will have almost no effect on the price increase, as was the case in the past. Most small investors invest in the short term and are not ready to wait even half a year to profit. They are in a panic sale now, even at a loss - but a lot of small ones have to lose, in order for a small number of big players to get rich. This is the only game that is played incessantly.

Before the end of the month? Your support may be broken even today...

Wake me up if my support at $7,000 has been broken Grin

.

Luckily it stays above $7,000 in the last two days i guess ... still believe this is the very thin support line that will last for at least a couple weeks from now , I expect this.
Or else if the scenario of bear run continue and even more aggressive to go down I'll be glad to load my bag with more bitcoin!
It's always been a win win situation for me all this time. No Matter where it moves ... I win! I lose nothing!

I actually bought at 6870 USD so the price did went below 7k but for a very short time.

Anyway I think it gets close to 6.5k soon, but after that there should be a nice bounce back towards 9k (see fractal published by NebraskaGooner on Twitter).

EdenHazard

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Quote from: Lucius on November 22, 2019, 07:33:16 AM

Quote from: EdenHazard on November 22, 2019, 01:21:55 AM

I would mad if by the end of this month my support break below $7,000 , jeez.

Only those who have no idea how Bitcoin has behaved in the past can think the way you and the vast majority think. Halving will happen in May 2020, and it is very likely that it will have almost no effect on the price increase, as was the case in the past. Most small investors invest in the short term and are not ready to wait even half a year to profit. They are in a panic sale now, even at a loss - but a lot of small ones have to lose, in order for a small number of big players to get rich. This is the only game that is played incessantly.

Before the end of the month? Your support may be broken even today...

Wake me up if my support at $7,000 has been broken Grin

.

Luckily it stays above $7,000 in the last two days i guess ... still believe this is the very thin support line that will last for at least a couple weeks from now , I expect this.
Or else if the scenario of bear run continue and even more aggressive to go down I'll be glad to load my bag with more bitcoin!
It's always been a win win situation for me all this time. No Matter where it moves ... I win! I lose nothing!

Bossian

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Quote from: Bossian on November 19, 2019, 12:16:13 AM

With a sudden move down to 8.1k area, would not be surprised to see a fake recovery towards 8.5k-ish.

But the trend is still clear towards the 7k area.

I would advise to still sell at 8.2k and buy back below 7.5k.

Just 3 days ago... hope you followed my recommendation Tongue

not it's not over yet, I just placed an order at 6900 USD waiting for my order to be executed, and most importantly we will need a bounce back but I think we bounce back to 9k (not this year though).

Bossian

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Quote from: Lucius on November 22, 2019, 07:33:16 AM

Quote from: EdenHazard on November 22, 2019, 01:21:55 AM

I would mad if by the end of this month my support break below $7,000 , jeez.

Only those who have no idea how Bitcoin has behaved in the past can think the way you and the vast majority think. Halving will happen in May 2020, and it is very likely that it will have almost no effect on the price increase, as was the case in the past. Most small investors invest in the short term and are not ready to wait even half a year to profit. They are in a panic sale now, even at a loss - but a lot of small ones have to lose, in order for a small number of big players to get rich. This is the only game that is played incessantly.

Before the end of the month? Your support may be broken even today...

The real support is not at 7k but around 6.4k (see post #1 in this thread). I think it probably holds this support of 6.4k.

Lucius

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Quote from: EdenHazard on November 22, 2019, 01:21:55 AM

I would mad if by the end of this month my support break below $7,000 , jeez.

Only those who have no idea how Bitcoin has behaved in the past can think the way you and the vast majority think. Halving will happen in May 2020, and it is very likely that it will have almost no effect on the price increase, as was the case in the past. Most small investors invest in the short term and are not ready to wait even half a year to profit. They are in a panic sale now, even at a loss - but a lot of small ones have to lose, in order for a small number of big players to get rich. This is the only game that is played incessantly.

Before the end of the month? Your support may be broken even today...

EdenHazard

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Quote from: Lucius on November 21, 2019, 11:38:14 AM

Quote from: EdenHazard on November 21, 2019, 10:11:50 AM

The fact that everyone expecting a warming up .. counting down the halving day ahead , the price should move up step by step gradually but here we are stuck at $8,000 even could get lower due the trends shows we are in bad vibes to go down further.

Whoever expects "warming up" these days is lives in total delusion, how time before halving should be considered as a time for something big? Are you aware that the accumulation is still ongoing, and that the big players' intention is that the price goes down, not up? What you and many others expect now, can only be expected next year at this time, or maybe in 2022.

What you see as misery, to someone is just good business opportunity, and not only for big players.

This is more to a game of psychology now ...

Thinking just like the majority (hoping for the bull run kicked off) would drag you to a frustrating situation all the time during this 'waiting for the halving day' , let's try to think and analyze things in different way , to think and analyze against public opinions .... against the media.
I did it since few years ago (not everytime) but several occasions , this method works well especially in an uncertain situation like this.
I would mad if by the end of this month my support break below $7,000 , jeez.

Mahanton

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Quote from: Lucius on November 21, 2019, 11:38:14 AM

Quote from: EdenHazard on November 21, 2019, 10:11:50 AM

The fact that everyone expecting a warming up .. counting down the halving day ahead , the price should move up step by step gradually but here we are stuck at $8,000 even could get lower due the trends shows we are in bad vibes to go down further.

Whoever expects "warming up" these days is lives in total delusion, how time before halving should be considered as a time for something big? Are you aware that the accumulation is still ongoing, and that the big players' intention is that the price goes down, not up? What you and many others expect now, can only be expected next year at this time, or maybe in 2022.

What you see as misery, to someone is just good business opportunity, and not only for big players.

Things that should be realized on and people should switch up on the way they do think.Its just normal for those people who do try to suppress the price first and then accumulate as they can with cheap coins or does simply say that they do buy when others are still in doubt.Majority would just tend to buy up with confidence when the price is
booming up or shall we say a little bit late and these are the things which they do like for those people who bought on the earlier time.They do really took advantage of it.

Lucius

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Quote from: EdenHazard on November 21, 2019, 10:11:50 AM

The fact that everyone expecting a warming up .. counting down the halving day ahead , the price should move up step by step gradually but here we are stuck at $8,000 even could get lower due the trends shows we are in bad vibes to go down further.

Whoever expects "warming up" these days is lives in total delusion, how time before halving should be considered as a time for something big? Are you aware that the accumulation is still ongoing, and that the big players' intention is that the price goes down, not up? What you and many others expect now, can only be expected next year at this time, or maybe in 2022.

What you see as misery, to someone is just good business opportunity, and not only for big players.

EdenHazard

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Quote from: FanEagle on November 20, 2019, 01:42:45 PM

I guess that is not really "devastating" signal, it says there is a good support near and a great resistance at a way above the current price. It would be bigger move going to $6.4k or going to $12.4k? I would say going to $12.4k would be a way bigger move. Hell we just recently touched $7k and went back to above $9k so the support is way above what it looks like here on the charts because there is a "psychological" support as well which is basically keeping the price above the current levels. We could always drop further and further but that doesn't mean that it will happen right away.

I would say "a bit down first but higher later" has always been said and whenever that is said I have seen it go higher directly without going down, so I say it will go up soon without going down.

The fact that everyone expecting a warming up .. counting down the halving day ahead , the price should move up step by step gradually but here we are stuck at $8,000 even could get lower due the trends shows we are in bad vibes to go down further.
This situation could attract some big players to drive the price down instead moving up , you know they love making money through our misery.

$7,000 is my current updated support point and $11,000 is the resistance, let's hold it on $7,500 for a while .

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Quote from: Yaunfitda on November 20, 2019, 09:31:59 PM

$8k now, all signals are now pointing to a bearish trend in the coming months.

At least the OP has open our eyes that $6k-$7k is now in the radar and I do hope that with this warning, traders specially newbies will learn and adjust their strategy. To be fair, there are a lot of TA's floating around months ago that we are in the entering a bearish trend, but that artificial pump (because of China news) put that on hold, but now we are back and this is the reality, no more artificial pump.

Really, what kind of signals are pointing for a bear ?

Yaunfitda

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$8k now, all signals are now pointing to a bearish trend in the coming months.

At least the OP has open our eyes that $6k-$7k is now in the radar and I do hope that with this warning, traders specially newbies will learn and adjust their strategy. To be fair, there are a lot of TA's floating around months ago that we are in the entering a bearish trend, but that artificial pump (because of China news) put that on hold, but now we are back and this is the reality, no more artificial pump.

1Referee

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Quote from: Slow death on November 19, 2019, 08:20:33 PM

did you think it was only natural to rise from $ 7400 to $ 9000 in such a short time? it was in the face that it was the old pump and dump phenomenon

It was mostly a huge short squeeze. It pretty much means that shorters are forced to buy at any price to cover their positions, which causes these overly exaggerated moves. In that regard, it's not surprising to see the price fall back because it wasn't a pump based on actual long term demand, but just based on very short term demand.

The coming days will be very important for the mid to longer term price action, because if we don't hold $8000 I'm afraid that the price will fall a few grand lower, possibly even lower $5000's. However, people are currently so bearish that I do expect a nice bounce up pretty soon (most likely before friday). If we can close some daily candles above the 200MA (~$9400) that will make me a bit more bullish.

FanEagle

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I guess that is not really "devastating" signal, it says there is a good support near and a great resistance at a way above the current price. It would be bigger move going to $6.4k or going to $12.4k? I would say going to $12.4k would be a way bigger move. Hell we just recently touched $7k and went back to above $9k so the support is way above what it looks like here on the charts because there is a "psychological" support as well which is basically keeping the price above the current levels. We could always drop further and further but that doesn't mean that it will happen right away.

I would say "a bit down first but higher later" has always been said and whenever that is said I have seen it go higher directly without going down, so I say it will go up soon without going down.

piebeyb

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Quote from: Bossian on November 14, 2019, 09:02:35 AM

After a death cross we officially entered another bear market.
There is still hope, if it is a fakeout (happened once) but most likely we are in bear market, and the price to monitor is 6.4k. If we hold that price we are good, if we go below 6.4k it will be a disaster, with probably a price going below 3k in 2020 or 2021.

However, if one day we go above 12.4k it will be an incredible signal to buy, overtaking 12.4k would mean reaching 20k again (and above).

Let's see how it plays out.

I say bitcoin always has a surprise at the end or at the beginning of the year, if this is a bear market they should have fallen below $ 6500 yesterday but unfortunately that is not the case, because the bears are dead now there are only big players taking the game taking cheap is an opportunity taken at the moment, I'm not sure it will return below $ 6500, prices will continue to stabilize or go up above $ 10k whether it's late this year or early next 2020

daarul50

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Quote from: Wexnident on November 18, 2019, 01:01:24 PM

Quote from: daarul50 on November 18, 2019, 12:45:43 PM

people need to understand that the latest spike from $7000 to $10000 was mostly is not organic move.

THIS. People overestimate how BTC ran from 7k to 10k in a matter of a few hours, and only that. They didn't see how the market was unsatisfied with its sudden run, so they made it go back down, no matter how slowly it was. If the run back then didn't occur, I'd expect a similar price as of now which is around 8.5k tbh.

Quote from: Bossian on November 18, 2019, 11:00:41 AM

Yep. Bearish or +- stable until end of 2020. If big run happens won't be before end of 2020.

Bearish, please. I wanna enter more investment into the scene so I might as well wait for that possibility.

here we go again looking to get back to $7000 now hehe

it has been a week since the first signal that this gonna be a bear run, down for 5% and a little bit correction of 1% up and so on it seems pretty clear we are going nowhere but sit back at the $7000 or $6000 for long until the halving occured.
i am a little bit doubt to holding at $8000 in this situation , the pressure day bay day getting higher.
once again i wish i was wrong , targetting a bounceback to $10000 or crazy $20000 is a mission impossible , it could indedd happened but let's re-check the facts around , all of them did not support it unfortunately.

there is no harm to saving some cash for further drop possibility.

Topic: Devastating signal: bear market, 6.4k support, 12.4 resistance (Read 623 times)