Topic: Market Analysis - page 2. (Read 406 times)

We're still not near the point at which we can consider the market to be priced fairly, especially with altcoins being way higher above their main utility value. Crypto prices in general hover always well above their utility value, but the extent we've seen them be valued at this year is just insane.

I like how Bitcoin is conveniently pushing back altcoins to their 2017 lows. I'm pretty sure that a couple more of these price swings will help to shake off even the most delusional *I will never sell* noob "hodlers".

The $100 million Tether transaction to Bitfinex wasn't a rumor, nor was it Bitfinex "stabilizing" their situation. What's there to stabilize anyway? They can print any amount of Tether at will.

Okay, maybe a more appropriate title would be "Market Analysis from my perspective"
But i think everyone is free to share his/her thoughts about the situations, or am i wrong?

that is true because experienced people are not necessarily proficient in various things, predictions or anything else, they may fail, if successful, the chances are only a few percent. Market turmoil is a very natural thing.

if you want to start a topic with the words "market analysis" the least you can do is to study the market first and then make a topic about it!
what happened yesterday with the drop had nothing to do with reaching a resistance or anything like that. it was purely a panic that was caused by an unimportant news about GoldmanSachs. not to mention that the rise was in no sense "STEEP"! it was a normal rise during a long period of time with a very slow speed showing a solid buy support.
I additionally believe that the altcoin dumps such as the huge ETH drop yesterday played a big role in pulling bitcoin price down.

however if you are just sharing your wishes about seeing a big drop then it is a different story and you should change the title into "I wish to see a big price drop".

The resistance has to show its power now or otherwise if the price drops below $6000 we can easily expect a hard pullback towards 5250-5500 USD levels

I heard about the struggles that Tether has had, but i haven't followed up on their situation closely, But i did saw some rumors that Bitfinex got $100m from Tether reserve, which made me think that they stabilized their situation. My personal thoughts and hopes are that we can see a scenario like last year and that the price is going to go up in late November.

I agree to an extend. I have seen same pattern in last two halving. There was a steep price rise and then a fall right after halving. So I am expecting real rise to be around 2020 halving.

The great news should come today to the market to attract people to open marginal long positions in BTC. It's needed for a limited recovery to 6700-6900 and going down further to 5000 afterward.

Not that experienced, but someone with an eye for details, and someone who has been following the charts.
No one can predict the number of investors that are going to come in at a certain time, but following the patterns and charts can give you an overview of the current situation, and we are all here to discuss and spread our opinions about it.

That would be the dark ages of cryptocurrency since a lot of people will be scared and would end up giving up there holdings and that is the time that whales is going to pump it since those weak people will be out of the market but would be hyped again when it would start to go up tremendously.

It seems that you seem to be a very professional trader, then have you analyzed how it will change when more investors start dumping in Bitcoin?

Unfortunately regulators come from all sides. Europe obliged the exchange to change the rules until mid-2019. Tether coin of the gods, is increasingly in doubt and under pressure. Apparently we are waiting for a protracted bear market, at least until 2020. Perhaps the reduction of the award for the production of bitcoins, will revive the market.

Bitcoin’s recent movements have given numerous traders hope that this bear market might be over, but there is a reason to believe this might not be the case. With the steep rises which Bitcoin has been engaging in, it is fair to suggest that it will soon be met with a resistance strong enough to cause a full rejection of price, which has been proven with yesterdays dump, but will the price drop even more?

Note that during August, Bitcoin (and other cryptocurrencies) formed an ascending triangle, and while this is generally good activity, the way that September is shaping up suggests that a major fall is about to happen. The positive actions of September are looking like a last minute dash at trying to push Bitcoin into the $8000 range, which sadly, seems unlikely. If resistance toward Bitcoin’s price is strong, it could trigger an ABC correction, leading us into a significant and prolonged fall. Resistance could even be enough to push it down to $5000 or lower, and could therefore temporarily collapse the market.

Sticking directly to the trend line does seem to show a sharp decline is imminent. The historical data reveals that Bitcoin’s current position is extremely similar to its position in 2015, where BTC stuck religiously to its trend line. Bitcoin is also known to stick closer to its trend lines than rivals such as Ethereum, and at the moment the trend lines are not looking good. Bitcoin has always been susceptible to large-scale corrections, less so than most altcoins, but more so than most stocks and other assets.

It is not clear when exactly the correction will take place, but a fair suggestion would be that it could happen within the next seven days.