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Topic: We are about to hit 8K and below...soon (see charts) - page 2. (Read 4031 times)

legendary
Activity: 3654
Merit: 1165
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I have always said even back when topic first started, guessing the price will "eventually fall" is not really a great prediction in itself, sure its good that you knew exactly how much it will fall and stop but the timing is a bit important as well.

Just to give an example, I will say "bitcoin will be 10k one day" , if it eventually goes above 10k that doesn't mean I know what I am doing, that just means I didn't give a time and a sensible guess.

I hope you are wrong on the 6k though, I have a ton of bitcoins laying around and I really want to sell them soon, without price going up I am not touching any of them and I am not entirely sure how long that will be which is why I hope you are wrong because even going back above 10k is difficult in itself and going to 6k than going to 10k would be even harder.
sr. member
Activity: 1400
Merit: 347
I dont know if it is still early to ask, but... who sold the bottom?

Too soon. We need to see a sign of strength first, like a rebound into the previous range. Once we're back at $10K or so we can be pretty sure the bottom is in. Until then.......we could go deeper.

Longs only dropped 6 or 7% on Bitfinex. Disappointing! Makes me wonder if the bears have more in store for us. Lips sealed


Im going to wait for $6800. This might be the definitive bear trap, as a lot of nocoiners are waiting for 3k.
legendary
Activity: 3234
Merit: 5637
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I have to admit that I gave very little prospects to OP prediction, but still he was right. It was inevitable that things will go in one direction, the price was too long at same level, and if there is no power to push up, down is only possible direction.

We all know it's very easy for BTC to move $1000 up or down, and therefore it should not be strange if price go above $9000 tomorrow, but also $7000 or even lower is possible. I can not say if Bakkt is a reason for this drop, or that speculation about drop-in hash power, but obviously it's still very easy to bring down the price if a large quantity of coins is sold in a short time.
legendary
Activity: 1806
Merit: 1521
I dont know if it is still early to ask, but... who sold the bottom?

Too soon. We need to see a sign of strength first, like a rebound into the previous range. Once we're back at $10K or so we can be pretty sure the bottom is in. Until then.......we could go deeper.

Longs only dropped 6 or 7% on Bitfinex. Disappointing! Makes me wonder if the bears have more in store for us. Lips sealed
legendary
Activity: 3052
Merit: 1273
...
So lets see if it can keep 9000 as an over head ceiling and then it might also lose 8100.   I would not normally not expect it to just hit a declining trendline and finish its selling in a simple way.
 7340 is an initial target past 8100 if it should push past right away.

I believe we're in the middle of institutional traders taking it all in their hands and decide the direction of the markets and maybe the selloff was to make these type of investors get in at lower while also considering a fact that selling it off in leveraged positions make these SHORTS higher gains compared to those who open long leveraged positions. And since you already predicted $7340 past 8100, let us not forget that BTC already went near $7800 on most exchanges in minutes while this dump took place, so I currently believe that the game has already been played, chaos has been nested in the minds of longs where everyone is scared of taking a long position while it is also advisable to stay away from the markets before we see how and where BTC closes its weekend.
STT
legendary
Activity: 4102
Merit: 1454
I'm glad someone else called it a descending triangle but its not always certain the outcome even if the pattern is recognizable, we just get some forewarning of the likely possibilities.    So the point really now is how does it act after hitting outside this triangle, does it now determine direction in the bigger picture will be downwards.   I have it at some prior support which is just a trend, I think we can bounce a bit and this would also be part of a larger sell if it can hit a ceiling and tire out buyers.



So lets see if it can keep 9000 as an over head ceiling and then it might also lose 8100.   I would not normally not expect it to just hit a declining trendline and finish its selling in a simple way.
 7340 is an initial target past 8100 if it should push past right away.
sr. member
Activity: 350
Merit: 294
I’m Back!!!
The Nostradamus of half-ass predictions.
This time...I’m using my whole ass!

Be very cautious people. We will see 8K within the next few weeks. Not by sept 5th. But soon.
Sentiment feels negative. This thing is breaking down soon...on its way back to 20K.

I am an amateur. I know less than any professional. Make no decisions based on this post. I only HODL.
But personally I was waiting to buy more sub 9K which I think is about to happen this month. Latest early OCT.

No way we are breaking positive from this descending triangle IMO.

we just crossed below $8k on bitstamp---excellent call, doctor! i have to admit, it looked touch and go for a minute. i thought the upper bound of the triangle was gonna break on that spike to $10.4k last week.

you must feel vindicated now eh? all the bulls were giving you a hard time after that "next 48 hours" call. Tongue now they're all quiet and licking their wounds!

Thanks.  I am not a trader, but having been in this space since 2014 (check my history), I can feel which way the wind is blowing.  That descending triangle was so clear even an amateur like me could see it.  Those usually break down.  And right now...after that huge runner to 14K (most of which I think was pumped by tether), the market needed a good solid correction. 8K range felt right.

Anyways...I am a bull long on bitcoin.  I think 60K-100K is very very possible.

Today I cashed in on my prediction (sold in the 10.5K range, bought back at 8.6K).

My next prediction...WE ARE GOING LOWER!!!! My guess...we hit 6.8K in the next few weeks...lets say by October 20th 
Let's say we'll see the 6.8K or not. Do you think we'll see the 3K again?



No...I do not think we will see 3K again.  Enough dumb money saw the rise to 20K...and didn't get in when it rose to 14K...but wish they did.
I think enough people are watching that 3K number thinking "I won't miss it this time."

So for that reason, I don't think we will see 3K again.  I wish we would.

I think that 6K level could be the floor.

That said...take my words with a grain of salt.  I'm a veteran in the space...but honey badger don't care!!
JL0
full member
Activity: 817
Merit: 158
Bitcoin the Digital Gold
I’m Back!!!
The Nostradamus of half-ass predictions.
This time...I’m using my whole ass!

Be very cautious people. We will see 8K within the next few weeks. Not by sept 5th. But soon.
Sentiment feels negative. This thing is breaking down soon...on its way back to 20K.

I am an amateur. I know less than any professional. Make no decisions based on this post. I only HODL.
But personally I was waiting to buy more sub 9K which I think is about to happen this month. Latest early OCT.

No way we are breaking positive from this descending triangle IMO.

we just crossed below $8k on bitstamp---excellent call, doctor! i have to admit, it looked touch and go for a minute. i thought the upper bound of the triangle was gonna break on that spike to $10.4k last week.

you must feel vindicated now eh? all the bulls were giving you a hard time after that "next 48 hours" call. Tongue now they're all quiet and licking their wounds!

Thanks.  I am not a trader, but having been in this space since 2014 (check my history), I can feel which way the wind is blowing.  That descending triangle was so clear even an amateur like me could see it.  Those usually break down.  And right now...after that huge runner to 14K (most of which I think was pumped by tether), the market needed a good solid correction. 8K range felt right.

Anyways...I am a bull long on bitcoin.  I think 60K-100K is very very possible.

Today I cashed in on my prediction (sold in the 10.5K range, bought back at 8.6K).

My next prediction...WE ARE GOING LOWER!!!! My guess...we hit 6.8K in the next few weeks...lets say by October 20th 
Let's say we'll see the 6.8K or not. Do you think we'll see the 3K again?

sr. member
Activity: 350
Merit: 294
NostraAnus the $8k prophet of BTCears  Shocked

Whose the NostraAnus now!!!
Wait..still me.
sr. member
Activity: 350
Merit: 294
I’m Back!!!
The Nostradamus of half-ass predictions.
This time...I’m using my whole ass!

Be very cautious people. We will see 8K within the next few weeks. Not by sept 5th. But soon.
Sentiment feels negative. This thing is breaking down soon...on its way back to 20K.

I am an amateur. I know less than any professional. Make no decisions based on this post. I only HODL.
But personally I was waiting to buy more sub 9K which I think is about to happen this month. Latest early OCT.

No way we are breaking positive from this descending triangle IMO.

we just crossed below $8k on bitstamp---excellent call, doctor! i have to admit, it looked touch and go for a minute. i thought the upper bound of the triangle was gonna break on that spike to $10.4k last week.

you must feel vindicated now eh? all the bulls were giving you a hard time after that "next 48 hours" call. Tongue now they're all quiet and licking their wounds!

Thanks.  I am not a trader, but having been in this space since 2014 (check my history), I can feel which way the wind is blowing.  That descending triangle was so clear even an amateur like me could see it.  Those usually break down.  And right now...after that huge runner to 14K (most of which I think was pumped by tether), the market needed a good solid correction. 8K range felt right.

Anyways...I am a bull long on bitcoin.  I think 60K-100K is very very possible.

Today I cashed in on my prediction (sold in the 10.5K range, bought back at 8.6K).

My next prediction...WE ARE GOING LOWER!!!! My guess...we hit 6.8K in the next few weeks...lets say by October 20th 
legendary
Activity: 3094
Merit: 1127

we just crossed below $8k on bitstamp---excellent call, doctor! i have to admit, it looked touch and go for a minute. i thought the upper bound of the triangle was gonna break on that spike to $10.4k last week.

you must feel vindicated now eh? all the bulls were giving you a hard time after that "next 48 hours" call. Tongue now they're all quiet and licking their wounds!
I would like to hear out on what would be their words at the moment.We didnt even hit 8k below but we are almost there.
Price had been 8300 a while a go and the movement is like a dead cat bounce.Price starts to consolidate.Possible bottom this time?

The question is why “ Why Need To Sold when Bottoming “

Isn’t if much applicable if we interested in “Buying” when bottom reached?
The question is,which price is the bottom line?lol
sr. member
Activity: 2618
Merit: 439
Seems like I will retract my first post here 😅

Now Bitcoin is falling up to below $8,500 as I typing this comment and market cap continues to fall so I can see more downwards from the Cryptocurrency

No wonder your prediction is soon to happen,if not today at least early tomorrow



I dont know if it is still early to ask, but... who sold the bottom?

The question is why “ Why Need To Sold when Bottoming “

Isn’t if much applicable if we interested in “Buying” when bottom reached?
sr. member
Activity: 1400
Merit: 347
I dont know if it is still early to ask, but... who sold the bottom?
legendary
Activity: 1652
Merit: 1483
I’m Back!!!
The Nostradamus of half-ass predictions.
This time...I’m using my whole ass!

Be very cautious people. We will see 8K within the next few weeks. Not by sept 5th. But soon.
Sentiment feels negative. This thing is breaking down soon...on its way back to 20K.

I am an amateur. I know less than any professional. Make no decisions based on this post. I only HODL.
But personally I was waiting to buy more sub 9K which I think is about to happen this month. Latest early OCT.

No way we are breaking positive from this descending triangle IMO.

we just crossed below $8k on bitstamp---excellent call, doctor! i have to admit, it looked touch and go for a minute. i thought the upper bound of the triangle was gonna break on that spike to $10.4k last week.

you must feel vindicated now eh? all the bulls were giving you a hard time after that "next 48 hours" call. Tongue now they're all quiet and licking their wounds!
legendary
Activity: 2548
Merit: 1245
I’m Back!!!
The Nostradamus of half-ass predictions.
This time...I’m using my whole ass!

Be very cautious people. We will see 8K within the next few weeks. Not by sept 5th. But soon.
Sentiment feels negative. This thing is breaking down soon...on its way back to 20K.

Good prediction. $7,998 to be exact (at least on Bitstamp).
Thats why people should always listen to their ass.
legendary
Activity: 1806
Merit: 1521
The problem is that everybody has this triangle drawn on their charts. Everybody is looking at it and basically if it breaks the $9100 area they will go short and if it breaks the trendline, then they will go long. However keep in mind that this is crypto and most likely there is a good chance they will be a fake move first and then it will quickly reverse.

Triangles are especially prone to headfakes, and not just in crypto. That's why I'd love to see one more shakeout to test the lower trend line first.

The trendline is trickly because of the way people draw the lines however the horizontal support at $9100 is easy to see. I won't be surprised that we might break $9100 and break $9000 and hit something like $8950 and completely reverse and trap a bunch of shorts and then we might break the trendline with high volume.

The ascending trend line (on Coinbase) is a hair below $9,500. That's why I'm looking for one more wick down to that area, maybe slightly below into the $9,400s. Buyers will be looking to keep the succession of higher lows intact. I really don't think we'll see $9K.
legendary
Activity: 3808
Merit: 1723
The problem is that everybody has this triangle drawn on their charts. Everybody is looking at it and basically if it breaks the $9100 area they will go short and if it breaks the trendline, then they will go long. However keep in mind that this is crypto and most likely there is a good chance they will be a fake move first and then it will quickly reverse.

The trendline is trickly because of the way people draw the lines however the horizontal support at $9100 is easy to see. I won't be surprised that we might break $9100 and break $9000 and hit something like $8950 and completely reverse and trap a bunch of shorts and then we might break the trendline with high volume.

Either this or vice versa and we do a head fake to the upside and then we start to go down.
legendary
Activity: 2912
Merit: 1068
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It's possible that Bitcoin price will go down, it's part of volatility. But to say exactly that this is going to happen and how deep the price will go its very hard and it must be remembered that charts are not always reliable. So it's not recommended to make decisions now based on such speculations.
legendary
Activity: 3318
Merit: 1128
The chart showing yes it will pump soon, but you know market always changed direction time on time wherein without knowing due to the factors that suddenly manipulate the growth rate. so don't assume that the potential is 100%. Much better to monitor the price rather than relying on that news because in fact even experts sometimes can't predict the real direction of growth rate. So you better wait for more results before trusting on it.
If adoption rate had grown to the fullest, we would have relied more on the growth of the value, and all these speculations would not be much because what I see that we just use now to control the price is speculation.

Speculation is good, but it is not meant to be the main determinant factor for the rice of bitcoin, there is need for us to do more in the aspect of using bitcoin as a payment tool because this is exactly the one that paves way for demands for bitcoin, if we constantly get demand for bitcoin, there would surely always be a constant increase in the value of bitcoin also. I believe in the future though and I believe that we will be the one to beg bitcoin to stop increase when the time comes that full adoption of bitcoin comes.
STT
legendary
Activity: 4102
Merit: 1454
Finally we got a bit of a move and its down towards previous lows again.   Testing support after definitely leaving the 50 day average and where also 8 and 30 were closely placed -



1hr bars, its got the usual pin from familiar prices.   This is the same low reached on July 2nd, selling off after the peak price for this year of 13k.   So its done nothing new except confirm price is somewhat weak in this formation.
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