Huge drop happening within 48 hours! (Update: BTC Price on Sept 5th) - page 7.

mindrust

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Quote from: DrBitcoin on August 27, 2019, 11:39:13 AM

I’m a huge TA skeptic as well. I am not a trader. I buy dips and HODL. I am also TERRIBLE at timing the market and if I say it’s going down...it’s going up!!

I just feel THIS TIME I might be right. That spring is coiling right. A major move is most likely coming up or down. I just think it’s going to be down. Just my gut.

Nice strategy. I am also doing something similar. The difference is, I am constantly DCA'ing my position regardless of the current price. $3k, $8k, $20k doesn't matter. I buy every week. Buying the dips when major corrections happen.

Also don't act like It is a certainty. Yes the chart looks like there can be a correction to $8k, or even $7.5k soon but you need to calculate all the possibilities. What if it directly goes to a new all year and high makes its correction from there?

I am ready for both scenarios. Have the FIAT, have the BTC (not enough coins but I believe I am in a better position than many). I can make money whichever way BTC decides to go.

This is what they call in gambling: "surebet"

Check my triangle too if you want:
https://www.tradingview.com/chart/BTCUSD/3l1JOd99-Wedge/

I believe we are very near of a big move. Whenever BTC gets stuck in a tight zone like this and the candles become very small, It ends up exploding in a direction. (hopefully it will be upwards, but like I said, downwards has its chances too)

bustedsynx

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Well, it is a huge triangle formation. If it breaks down from that, in spite of the bullishness of some news and the coming halving, then it is really bearish. But I bet it wouldn't go far below $8000.

Anyway, all are probably waiting which direction the price will go.

LFC_Bitcoin

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Quote from: DrBitcoin on August 27, 2019, 06:07:45 AM

08.24.19
Current price: $10,162
Prediction: huge correction within 48 hours (8K range)

I’ve been into BTC since 2014, and I am NOT a trader. I can read the charts somewhat. Every analyst is pointing out right now that there is a descending wedge, coiling price, and dropping volume. They are also claiming a symmetrical triangle. A lot of them are expecting a break to the upside because we are technically in a “bull market.”

I firmly disagree. The sentiment right now is a little negative. After this huge run up I expect a break down to like 8K or lower.

I could be wrong, I hope I’m wrong. And I’m not willing to sell any bitcoin and take a chance.

But I think I’m right! (Let’s see if this ages well?)

Quoted.

I’ll be back to bump this in 48 hours & hopefully you’re wrong & have made yourself look stupid. If not then everybody gets another chance to gobble up cheap coins - WIN WIN.

Naida_BR

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Quote from: DrBitcoin on August 27, 2019, 06:07:45 AM

08.24.19
Current price: $10,162
Prediction: huge correction within 48 hours (8K range)

I’ve been into BTC since 2014, and I am NOT a trader. I can read the charts somewhat. Every analyst is pointing out right now that there is a descending wedge, coiling price, and dropping volume. They are also claiming a symmetrical triangle. A lot of them are expecting a break to the upside because we are technically in a “bull market.”

I firmly disagree. The sentiment right now is a little negative. After this huge run up I expect a break down to like 8K or lower.

I could be wrong, I hope I’m wrong. And I’m not willing to sell any bitcoin and take a chance.

But I think I’m right! (Let’s see if this ages well?)

To tell you the truth It would be satisfying to see Bitcoin price dropping, but not altcoins moving at the same downwards trend.
I want to see funds moving from bitcoin to altcoins because there is a huge difference in their prices right now.

DrBitcoin

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Quote from: royalfestus on August 27, 2019, 09:49:13 AM

I expect a huge drop also but the '48 hour' could bring questions. I will advise you if you fail with this prediction in the next 2days, in subsequent predictions never attach a time/period.

Lets get one thing straight...I am right 50% of the time everytime!

DrBitcoin

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Quote from: The Sceptical Chymist on August 27, 2019, 09:33:27 AM

Quote from: DrBitcoin on August 27, 2019, 06:07:45 AM

The sentiment right now is a little negative. After this huge run up I expect a break down to like 8K or lower.

And I disagree with your assessment--look at where the price is. Sentiment is not negative at all; bitcoin was at around $3500 not too long ago, and even though it's stalled again right now it hasn't crashed and I don't think it's going to.

You say you can read charts and that bitcoin is in for a drop in the next 48 hours, and I'm a devout TA skeptic. I'm going to bookmark this thread and see where bitcoin is in 2 days. We'll see if you're correct.

To be clear, you're saying this:

Quote from: DrBitcoin on August 27, 2019, 06:07:45 AM

08.24.19
Current price: $10,162
Prediction: huge correction within 48 hours (8K range)

Quote from: fabiorem on August 27, 2019, 08:41:30 AM

8k would be a good entry point, but these dips are becoming rarer as time passes. I believe bitcoin might skyrocket at any moment.

Yep, if I had any money to invest (which it seems like I never do), I'd buy in at $8k in a heartbeat if bitcoin dropped that low. It certainly could, and I would never say it's impossible, but my intuition is telling me it's not going to. Certainly not in 48 hours as OP as predicted.

I’m a huge TA skeptic as well. I am not a trader. I buy dips and HODL. I am also TERRIBLE at timing the market and if I say it’s going down...it’s going up!!

I just feel THIS TIME I might be right. That spring is coiling right. A major move is most likely coming up or down. I just think it’s going to be down. Just my gut.

Harlot

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Lol!!!!! If you really know how to read the charts “somehow” then you know the descending wedge pattern is not a bearish pattern but a bullish pattern when it is coupled with a decreasing volume shows that it's a healthy correction that you don't have to worry about it going down even further. I don't know if you really made this thread purposely to be negative and see how others will correct you but hopefully you still learn how to read charts properly before you mislead yourself.

gantez

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Everybody seem to be agreeing on the fall prediction but the time frame seem the diverse view. Anyway, I think the fall is being agreed on because bitcoin is really not very volatile. I'm just careful because we are approaching a season and anything can happen either way.

royalfestus

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I expect a huge drop also but the '48 hour' could bring questions. I will advise you if you fail with this prediction in the next 2days, in subsequent predictions never attach a time/period.

The Sceptical Chymist

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Quote from: DrBitcoin on August 27, 2019, 06:07:45 AM

The sentiment right now is a little negative. After this huge run up I expect a break down to like 8K or lower.

And I disagree with your assessment--look at where the price is. Sentiment is not negative at all; bitcoin was at around $3500 not too long ago, and even though it's stalled again right now it hasn't crashed and I don't think it's going to.

You say you can read charts and that bitcoin is in for a drop in the next 48 hours, and I'm a devout TA skeptic. I'm going to bookmark this thread and see where bitcoin is in 2 days. We'll see if you're correct.

To be clear, you're saying this:

Quote from: DrBitcoin on August 27, 2019, 06:07:45 AM

08.24.19
Current price: $10,162
Prediction: huge correction within 48 hours (8K range)

Quote from: fabiorem on August 27, 2019, 08:41:30 AM

8k would be a good entry point, but these dips are becoming rarer as time passes. I believe bitcoin might skyrocket at any moment.

Yep, if I had any money to invest (which it seems like I never do), I'd buy in at $8k in a heartbeat if bitcoin dropped that low. It certainly could, and I would never say it's impossible, but my intuition is telling me it's not going to. Certainly not in 48 hours as OP as predicted.

fabiorem

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Activity: 1400

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The problem with sideways is that, if you are into a DCA strategy, the more you buy the less coverage you'll have in case the price fall to the level below. I've just received some money but Im waiting for some movement (both up or down) to buy, because I already bought at the current level. Sideways is bad when you are buying into a ladder.

8k would be a good entry point, but these dips are becoming rarer as time passes. I believe bitcoin might skyrocket at any moment.

1Referee

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You can short Bitcoin with a stop loss so that you don't lose out too much in case you're prediction is wrong.

What I am looking at is a large descending triangle on the daily time frame, but in my opinion it doesn't look like it is going to break out any time soon at all.

The thing with people currently being overly bearish is that this lays the foundation for a brutal counter move. Generally speaking, these descending triangles tend to break out to the downside, but Gold has actually broken out of a descending triangle to the upside last week. For what it's worth, I prefer to be neutral right now. No open positions.

Pab

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I think that we are in corrective move and 8k is possible
It even correspond with unfilled CME gap
But it will be not in 48 hours.It will take tame .Moves to support level then speculative up then shorting etc
I am expecting some speculative up to Bakkt launch then last corrective move down
From late October early November we will have our parabolic run

DrBitcoin

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08.24.19
Current price: $10,162
Prediction: huge correction within 48 hours (8K range)

I’ve been into BTC since 2014, and I am NOT a trader. I can read the charts somewhat. Every analyst is pointing out right now that there is a descending wedge, coiling price, and dropping volume. They are also claiming a symmetrical triangle. A lot of them are expecting a break to the upside because we are technically in a “bull market.”

I firmly disagree. The sentiment right now is a little negative. After this huge run up I expect a break down to like 8K or lower.

I could be wrong, I hope I’m wrong. And I’m not willing to sell any bitcoin and take a chance.

But I think I’m right! (Let’s see if this ages well?)

UPDATE 08.29.19
Ok, so I got the time frame, and direction...but it got to 9400, didn’t quite get to the 8000k range.

NEXT PREDICTION: By September 5th...bitcoin will be between 8200-8600 range. I know it’s a big range. But that’s still a huge drop from here.

(We will likely get close to 10K first. Possibly tomorrow or Saturday. May even get slightly over. But than crash down to 8200-8600 by 11:59PM sept 5)

Topic: Huge drop happening within 48 hours! (Update: BTC Price on Sept 5th) - page 7. (Read 1224 times)