I dont think its a strong downtrend but until we get above 50 day moving average its fairest to say it continues with negative momentum. The recent low today was the 8 day trend which we are above meaning we are close to breaking above 50 day but this positive move is still short term term and we have to confirm above about 3650
Then the 200 day which is more long term then either of those is descending and about 5000 or so, it would be good if we can close to nearer there and have a proper tug of war between bulls and bears
Topic: Is bitcoin still in a strong downtrend ? (Read 19858 times)
Yup, I wouldn’t consider this the end of the downtrend we’re in yet, though I do strongly think that we are out of the worst of the bear market. It’s been pretty disappointing from both the bears and bulls recently as attempts to move up and down have mostly been stopped, though I could see support perhaps giving way if LTC continues to drop or bleed as the market seems to currently be following LTC prices right now. Bulls or bears could take prices in either direction with a good volume move right now.
As of now bitcoin is in the verge for a forward push. As a beginning to the same the price has been staggering within the $3600-$3700 mark. Possibly the barrier breaking of $4000 is much expected for the month end. Even now whether the market is on strong downtrend or uptrend is unpredictable.
It's really funny to read some comments last year because this thread is like one year old already. 
I say it's funny because there are even a lot of people saying that bitcoin is not on a downtrend and won't go below $4K but we have seen the drama in November last year that causes the price to go below the $4K that the OP is asking about a year ago.
Also shows that predicting the price movement is very very difficult and no one can really tell what's going to happen in the future and even TA is not a good indication or help for longer term predictability.
I say it's funny because there are even a lot of people saying that bitcoin is not on a downtrend and won't go below $4K but we have seen the drama in November last year that causes the price to go below the $4K that the OP is asking about a year ago.
Also shows that predicting the price movement is very very difficult and no one can really tell what's going to happen in the future and even TA is not a good indication or help for longer term predictability.
I think not, now is not a strong down trend, but i think we need more people to join and to get some bitcoin and hold and only after we can get a good grow, maybe will grow at 10k but we need a little more time.
I think bitcoin dropped to the level of $ 3000 is enough, because now it has been trending at the level of $ 3600. I hope to increase again to the level of $ 4000 in the second quarter. Optimistic must still be done even though many people predict going down again.
Not only $4k but also $10k is possible for bitcoin. Bitcoin is a currency that break all the highest records in any time. It is still a strong and popular coin. So bitcoin has much potential and a bright future. 
It is neither destroyed nor recovered. Its still somewhere in between, the price is seriously low compared to what it could be right now (what I believe would be over 5.8 thousand dollars) but unfortunately from the bear market to less miners (lower difficulty equals lower costs equals to quick sales at these prices) to misfortune things like ETF getting withdrawn and all that resulted with this price so we need to still keep waiting.
Good thing is we are not going down anymore which is a great news, bad news is we are not going up neither so that is bad. Hence we need to first go up a bit to say that the recovery started, maybe over 4k is enough for now, as long as we stay over 4k for couple months that is good, after that we can discuss how we can move gradually upside but without that first step its not really that good.
Good thing is we are not going down anymore which is a great news, bad news is we are not going up neither so that is bad. Hence we need to first go up a bit to say that the recovery started, maybe over 4k is enough for now, as long as we stay over 4k for couple months that is good, after that we can discuss how we can move gradually upside but without that first step its not really that good.
Wow ! I hit my target 
yes your "guess" came true. just like how you can possibly close your eyes and throw a dart at a dartboard and hit the bulls eye right in the middle of the board. that doesn't make you skillful though.
in this case $6k was the bottom and we had no reason to believe otherwise, and your $4000 guess as you can see was an incident because of unpredictable events.
I think bitcoin dropped to the level of $ 3000 is enough, because now it has been trending at the level of $ 3600. I hope to increase again to the level of $ 4000 in the second quarter. Optimistic must still be done even though many people predict going down again.
I strongly believe that you did not buy bitcoin then and you have decided to buy below $4000! Because at February 2018 when you opened this thread you bought and you are still holding up till now I believe that you should be in a big mess by now. Now that bitcoin might still be going down I strongly recommend that if you really want to buy at the bottom then you have to wait for the market to move below $3000 before investing . It is still possible that bitcoin might move down below the current pricing.
Wow ! I hit my target
I think bitcoin is starting to recover from yet another downfall once again. Even if the cryptomarkets are pleasing in the eyes again, but still, the price is still down as it is starting to recover back and made me think that this will be the start of the bullish market.
I believe it's just another short term bounce.
Imo we are not done yet and I expect more attempts to push us below $6k and maybe below $5k as well. Just to clean all the weak hands and rational thinkers out who believe they know better.
The market and especially Bitcoin always loves to teach you a lesson. In positive ways, as also in negative ways.
I think bitcoin is starting to recover from yet another downfall once again. Even if the cryptomarkets are pleasing in the eyes again, but still, the price is still down as it is starting to recover back and made me think that this will be the start of the bullish market.
As of today, Bitcoin's price is playing around $7200-7400 if it breaks the 7400 mark then, there would a high possibility that it will reach the $8000 mark. But if doesn't, then there are 2 possibilities that might happen, it would stabilize at around $7200+ or much worst it would depreciate up until the $6000 mark. Though Bitcoin is somehow showing some strength to rise up again, we can't be too complacent. A simple mistake could cost a lot, so better not to let our guard off. Be mindful and cautious especially if you are trading.
Bitcoin will be destroyed at the beginning of this september and it will be difficult to get back healthy. Still remember the hardfork case? Looks like his pattern will be the same as China's ICO case hehe. So buy bitcoin now and hold it until october
Don’t at least use the term ‘destroyed’ for bitcoin. It seems as if it is going to leave the crypto market forever. If bitcoin is going to face another dump in the coming months, that is not an issue at all. If bitcoin is not performing up to the mark, so are the altcoins doing. This is why bitcoin not loses market or investors when the prices get down drastically. We simply need to hold on to our coins as tight as possible.
And if $1000 doesn't hold we'll be up for $500, and when $500 doesn't hold we should prepare ourself for $200. 
I think not, because I'm basing my speculation in data from previous crashes. In 2011 there was a 94% crash, in 2015 a 87% crash, and current crash is already 70%. From 20k to 200 it would be a 99% crash. I think money will flow in before it reaches this value, and the price will not go lower than $800, in a worst case scenario.
Just because I'm saying it can happen, dont means it will happen.
If it keeps declining, then $4k in two weeks, and $2k in May. In this case we can have a recover in May after $2k or in July after $1k. Its possible it will stay in three-digits for some days, too. Recovery will be very slow and we will only be back to $10k in December.
And if $1000 doesn't hold we'll be up for $500, and when $500 doesn't hold we should prepare ourself for $200.
Your prediction is all over the place and doesn't hold much reality to it. Nothing in the world justifies the price to fall back down that much, and especially not with how people adjust their predictions based on how the market moves. People in each active bull run are mentally being played with, and that's definitely not a surprise in this case. I just find it quite entertaining, more precisely said.
Bull run last year = $50,000-$100,000 speculation.
Reverse bull run this year = $1000-$4000 speculation.
The thing with reading charts is that basically ANY scenario can be pointed out, but that doesn't mean it will automatically happen. Last year was the perfect example of how useless technical analysis can be when greed and fomo start playing an important role. Analysis said that the top would be $3000, $4000, $5000, $6000, etc. All the way till the peak this nonsense was ruling the market.
If the double bottom confirms, the downtrend will probably be over and we will be at $10k in May.
If it keeps declining, then $4k in two weeks, and $2k in May. In this case we can have a recover in May after $2k or in July after $1k. Its possible it will stay in three-digits for some days, too. Recovery will be very slow and we will only be back to $10k in December.
If it keeps declining, then $4k in two weeks, and $2k in May. In this case we can have a recover in May after $2k or in July after $1k. Its possible it will stay in three-digits for some days, too. Recovery will be very slow and we will only be back to $10k in December.
For now there is a tendency for me to be a descendant that for me will not be too deep, it's hard for bitcoin to show improvement because bitcoin has lost a lot of money today, buy it now and maybe it will help bitcoin to pump again for later this year .
Bitcoin will be destroyed at the beginning of this september and it will be difficult to get back healthy. Still remember the hardfork case? Looks like his pattern will be the same as China's ICO case hehe. So buy bitcoin now and hold it until october
Well september is still a long way to go though i can agree that many people are looking at that time wearily with the sellout of mt.gox btcs resuming. If btc will have another run like last year it would likely be after that
Jump to: