Im not a TA fanatic but basing just for some Moving average i cant say that we would headback on 7k price.We see some correction from 13k down to 9k which isnt that surprising and in fact ive been accumulating as of this moment yet i have already sold out when its still on 13k price.Not bad for shorter terms.
Expecting the worst?Im already prepared for that one but buying on the bottom would always be an unending question as a trader.
Topic: Hope for the best, Expect the worst - page 3. (Read 893 times)
The ongoing market crash is an expected one. This time the price could go even lower, but more possibility for recovering of altcoins with the next growth of bitcoin. As the thread title states rather than hoping for the best it is good to hope for the worse, and when the best happens by that time what we get out of the same will be extremely big.
Last week I was saying to everywhere not to get excited by that increase that occurred then.
If altcoins dont gain value respective to the increase in Bitcoin price then we are going to see drops like this one more often. I am sad that altcoins are struggling once again and they keep losing value in this drop.
If altcoins dont gain value respective to the increase in Bitcoin price then we are going to see drops like this one more often. I am sad that altcoins are struggling once again and they keep losing value in this drop.
the drop has lost its downward momentum, so apart from what it might be seen on the charts with TA i currently don't see any more drops coming with the way price pushed back up from $9k and has been resisting further drops.
so unless some new wave of FUD and panic begins in the market to create another selling momentum to break the $9000 level we may not see the "worst" but yeah lets expect $7k to not be disappointed
so unless some new wave of FUD and panic begins in the market to create another selling momentum to break the $9000 level we may not see the "worst" but yeah lets expect $7k to not be disappointed
I think the clear winner would be going back up, not just because SMA but also the trends in bitcoin of when people sell and what needs to happen for people to sell whereas same goes for buy as well. We have seen bitcoin dropping to just under 10k only last week and then it reached back above 12k as well, it happened before as well, so all in all it is totally expected for bitcoin to do the same thing, I am not saying it has to, I am not saying it definitely will but looking at the previous things its quite possible for bitcoin to do the same thing again because there is no reason why it shouldn't.
Of course, it could still go down a bit more before going up because the more whales accumulate and the more they have in usdt and cash it means the more ammunition they will have to attack the tops and get back to high prices.
Of course, it could still go down a bit more before going up because the more whales accumulate and the more they have in usdt and cash it means the more ammunition they will have to attack the tops and get back to high prices.
See, this is why I don't mind TA, even if I don't believe in it. Short, sweet and looking at both possible sides of the coin (but hey the coin can land right on it's middle too, no? 
Now if we reach the bad news, 7k BTC does not look bad to me at all. If it means that after 6 months from its 2019 we see 100% growth, that's really kind of good news. Not to mention additional time for me to accumulate.
If we reach the good news, then it's only confirming what we've been thinking since June.
Either way, let's expect 7k then!
@Pursuer yeah, all I can see on Twitter now is 80% drop comparisons from 2014,16,17 etc. That's kind of hoping for the best, though, so I'll let them hope.
Now if we reach the bad news, 7k BTC does not look bad to me at all. If it means that after 6 months from its 2019 we see 100% growth, that's really kind of good news. Not to mention additional time for me to accumulate.
If we reach the good news, then it's only confirming what we've been thinking since June.
Either way, let's expect 7k then!
@Pursuer yeah, all I can see on Twitter now is 80% drop comparisons from 2014,16,17 etc. That's kind of hoping for the best, though, so I'll let them hope.
people loved comparing bitcoin of 2018 (the dropping year) with bitcoin of 2014 (the same dropping year) when it was dropping from its bubble and although I don't like these comparisons I have to admit we ended up having a lot of similarities.
right now it seems to me that despite no one really doing the same comparison anymore (between 2019 the recovery year with 2015 the past recovery year) but things are starting to look the same too.
so worst case scenario of repetition of the same thing at a bigger percentage drop from the high we reached would be reaching around $8500 before bouncing back up again.
right now it seems to me that despite no one really doing the same comparison anymore (between 2019 the recovery year with 2015 the past recovery year) but things are starting to look the same too.
so worst case scenario of repetition of the same thing at a bigger percentage drop from the high we reached would be reaching around $8500 before bouncing back up again.
Hi mikeywith,
I've always enjoyed reading your TA, great stuff. I'm a bit confused though, in the beginning you said
I've always enjoyed reading your TA, great stuff. I'm a bit confused though, in the beginning you said
On the weekly chart below, i use only the 20 SMA (blue) and 20 SMA ( Orange )
Don't you mean 5 SMA (blue)? 
So BTC is down 30% from the last high, how far can we go ?
On the weekly chart below, i use only the 5 SMA (blue) and 20 SMA ( Orange )
Using the BLX chart, you can see that from 2010 all the way to 2018, every time we had a weekly close below the 5 SMA we simply drop all the way to the 20 SMA.
in the above theory there is good news and bad news.
which one do you want to read first?
I personally like the bad news first
The bad news :
The 20 SMA is hanging around 7200$ but by the time we get there, it should be at 7500-8000 , so there is a good chance we would see number 7 again.
The good news:
The 20 SMA on the weekly is very very strong, based on previous price behavior near the 20 SMA on the weekly, more than 90% of the time this SMA was strong enough to keep price above it during bull market and below it during bear market, so it's safe to assume that we are officially in a bull market and this merely a major correction.
My plan is to slowly buy btc from current price all the to sub 7k , and start selling at around 13600$ , even though I expect the next leg up to hit `16k , but that won't be this month, highly unlikely next month either as I do expect a few weeks of consolidation near the 20 SMA.
***The importance of the 20SMA on the weekly came to my attention from a video I watched on Youtube a long time ago, and I have been watching this SMA for a long time, i would like to give credit to whoever made the video whom I sadly can't remember.
On the weekly chart below, i use only the 5 SMA (blue) and 20 SMA ( Orange )
Using the BLX chart, you can see that from 2010 all the way to 2018, every time we had a weekly close below the 5 SMA we simply drop all the way to the 20 SMA.
in the above theory there is good news and bad news.
which one do you want to read first?
I personally like the bad news first
The bad news :
The 20 SMA is hanging around 7200$ but by the time we get there, it should be at 7500-8000 , so there is a good chance we would see number 7 again.
The good news:
The 20 SMA on the weekly is very very strong, based on previous price behavior near the 20 SMA on the weekly, more than 90% of the time this SMA was strong enough to keep price above it during bull market and below it during bear market, so it's safe to assume that we are officially in a bull market and this merely a major correction.
My plan is to slowly buy btc from current price all the to sub 7k , and start selling at around 13600$ , even though I expect the next leg up to hit `16k , but that won't be this month, highly unlikely next month either as I do expect a few weeks of consolidation near the 20 SMA.
***The importance of the 20SMA on the weekly came to my attention from a video I watched on Youtube a long time ago, and I have been watching this SMA for a long time, i would like to give credit to whoever made the video whom I sadly can't remember.
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