Is BTC going on bearish trend now? - page 2.

alyssa85

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Quote from: btcdevil on September 02, 2017, 08:41:01 AM

Quote from: alyssa85 on September 02, 2017, 08:13:25 AM

Don't want to scare anyone, but here is what Goldman Sachs wrote on 14th August:

http://uk.businessinsider.com/bitcoin-price-technical-analysis-goldman-sachs-top-2017-8

Quote

Sheba Jafari, the head of technical strategy at Goldman Sachs, wrote in a note sent to clients on Sunday that because bitcoin was approaching her target of $3,691 (which it has since passed), an extension wave five of this move could take bitcoin all the way up $4,827 before a correction pushes it all the way down to about $2,221.

She was right in the first part of her prediction in that bitcoin blasted up to $4827+.

Whether she is right about the correction following that is anyone's guess.

I dont think that it will go to that level of downward we can see some correction and going till 4200+ level but below that it will start the panic selling and then we cannot see how much low we can see because now 5k is the sentimental price which once crossed it will move more 400 to 500 usd upward.

Nothing will surprise me about crypto anymore. My feeling is that the push towards $5k happened just too fast, and people started getting cold feet and cashing in.

Also, the next difficulty retarget for bitcoin is in about 5 days time according to the following site:

http://fork.lol/pow/retarget

I expect the difficulty to increase, as btc has been doing blocks every 7 mins. If a difficulty increase is combined with a drop in price, we might see miners switch to the other chain causing backlogs again.

Asrael999

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Oh yes Bitcoins dead again - didn't you get the memo? Seriously the price is where it was on what Wednesday when it made a all time high? Get some perspective.

LFC_Bitcoin

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Quote from: TheQuin on September 02, 2017, 04:17:37 AM

I'd call it a minor correction at this stage. The bullish trend is still good unless it breaks below 3750.

This ^^

I don't know why people feel the need to start attention seeking threads every time the price drops a bit. A $200-$300 drop is not all that significant when 1 bitcoin = over $4500.

btcdevil

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Quote from: alyssa85 on September 02, 2017, 08:13:25 AM

Don't want to scare anyone, but here is what Goldman Sachs wrote on 14th August:

http://uk.businessinsider.com/bitcoin-price-technical-analysis-goldman-sachs-top-2017-8

Quote

Sheba Jafari, the head of technical strategy at Goldman Sachs, wrote in a note sent to clients on Sunday that because bitcoin was approaching her target of $3,691 (which it has since passed), an extension wave five of this move could take bitcoin all the way up $4,827 before a correction pushes it all the way down to about $2,221.

She was right in the first part of her prediction in that bitcoin blasted up to $4827+.

Whether she is right about the correction following that is anyone's guess.

I dont think that it will go to that level of downward we can see some correction and going till 4200+ level but below that it will start the panic selling and then we cannot see how much low we can see because now 5k is the sentimental price which once crossed it will move more 400 to 500 usd upward.

bitcoinisbest

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I think so it's a small correction before reaching the new landmark of 5k levels . It does not seem that there is any real reason due to which the price will drop to 2k level . On the other hand there are news that few coutties are in process to legalise Bitcoin which will help to make a bull run for Btc . So overall I am positive in terms of bullish at present .

alyssa85

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Don't want to scare anyone, but here is what Goldman Sachs wrote on 14th August:

http://uk.businessinsider.com/bitcoin-price-technical-analysis-goldman-sachs-top-2017-8

Quote

Sheba Jafari, the head of technical strategy at Goldman Sachs, wrote in a note sent to clients on Sunday that because bitcoin was approaching her target of $3,691 (which it has since passed), an extension wave five of this move could take bitcoin all the way up $4,827 before a correction pushes it all the way down to about $2,221.

She was right in the first part of her prediction in that bitcoin blasted up to $4827+.

Whether she is right about the correction following that is anyone's guess.

iqlimasyadiqa

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Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

I see this is a correction that will not affect the positive trend of bitcoin price increase. so there is no problem, the decline is probably quite large this will not be felt because at this time bitcoin prices have started to show improvement. pay attention to the market that bitcoin is now increasingly in demand and when all this goes smoothly then we'll see bitcoin prices go through 5000USD.

1Referee

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It's always the same, the price goes up, people are perfectly fine with it. The price goes down like 10%, and suddenly bearish talk starts popping up. Why can't people understand that there are traders/investors looking to cash out their massive profits from time to time? The market has gone up like 400% in a matter of nine months, so it only makes sense to experience these 10% pull backs occasionally. Even if we happen to dive under the $4000 level in the coming days, it's all part of the game. Investors are here to make profit, and not to endlessly look at their coins gaining value without doing anything - don't forget that in order to obtain these profits, one needs to sell. In a market being this thin, it goes down with 10% easily, nothing to worry about.

ChainSmoker

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Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

I don't think we will see 4000$ again.I think it's just the minor correction.Once the dust settles you can be sure 5000$ price is not far away.Once we cross 5000$ then support will be insane at 5000$ so reaching 4000$ will be impossible unless something really bad happens.

btcney

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Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

Floor currently is around $4700. Whenever it goes below that level, people buy it up again. When it nears $5k, people dump it. This is the trend right now, and the price is essentially in control at $4700-4900.

So i don't think that we are going to see $4000 for this week. Next week? Maybe. But more likely the craze is probably just going to continue, probably right through this month until a dump comes next month or the next next month.

Bearish trend is going to come eventually. Following huge bull markets will definitely be bearish market conditions. I would say that next year isn't going to be a great year for bitcoin, or at least not as a great year as this year.

magneto

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Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

There are people that needed to cashout, so they did.

Price can't go up forever. We are in a bubble and everyone knows that. Whenever there is a pump, it could be the last one. That is a part of reason why $5k is so hard to go over right now and there is extremely strong resistance.

I do expect the bullishness to continue to at least mid-month. But after that, i'm not optimistic at all. I think that this bubble is pretty overinflated right now and could pop at any given moment. Not a great time to get in.

saiscoin

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It can't go up forever. minor correction maybe drop another hundred or so before soaring agian

puremage111

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Quote from: el kaka22 on September 02, 2017, 05:46:17 AM

Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

Minor correction already has been experienced, I guess market may bounce back from here to test $5100 levels before end of tomorrow. If we keep watching, now a days big prices are happening only on Sundays. This way tomorrow may mark the historic price of $5000 for one bitcoins. After that we may see another round of correction before prices rallying toward $5200.

So $4,600 would be a good entry level to bought back? Well my friend ask what would be an appropriate price to entry at this moment? I have no idea

el kaka22

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Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

Minor correction already has been experienced, I guess market may bounce back from here to test $5100 levels before end of tomorrow. If we keep watching, now a days big prices are happening only on Sundays. This way tomorrow may mark the historic price of $5000 for one bitcoins. After that we may see another round of correction before prices rallying toward $5200.

alyssa85

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Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

It's normal profit taking. It went up too fast. It was just about $3000 on August 1st, so the rise was too sharp. I hope it stabalises at the current level for a bit.

btcney

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Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

I think that this month we will still see bitcoin price climb up a bit. Perhaps even break $5000 comfortably.

But i'm not so bullish about the next few months. After this pump slows down what is going to happen? I believe that the price is going to adjust down by at least $1k from the all time high. BTC has simply been too high, and can't stay in a bubble forever.

We could potentially see a bearish state of btc for the next 1-2 years until the halving comes round again, just like 2014-2015.

This is what happens after every major bubble. I'm still a long term bitcoin bull though.

sujonali1819

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Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

I also call it is an minor price correction.i think btc take another few days to over $5000. if you see in past when price was under $3000 it take minimum a month to over $3k.price dancing between $2800-2500
.again when it was below $4000 btc took more few days to cross $4k.i think also now it take few days to cross $5k.price will be dancing bitween 4800-4600$ even it can down to $4500 again.when price will be stable then it will jump $5k in very short time.

faithupgrade

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Hmm I guess a group of whales decided to dumped bitcoin.. Or this is just a little bit price correction. The next major price correction is at 5600usd.

Quote from: puremage111 on September 02, 2017, 04:12:51 AM

Yesterday BTC was peaked around $4900+ ~close to $5,000 and it is now back to $4,700

What's your take on it? Minor price correction? Or we will have a slightly down trend towards to Close to $4,000 which is almost a 15% Down

putrisa

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maybe this is just price correction, and will bounce up again to reach the $ 10k target and in this year maybe bitcoin will break its record high price.
hold your bitcoin until the end of this year.

TheQuin

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I'd call it a minor correction at this stage. The bullish trend is still good unless it breaks below 3750.

Topic: Is BTC going on bearish trend now? - page 2. (Read 1638 times)