We are Close To The Bottom: - page 3.

NeuroticFish

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Quote from: BitHodler on November 26, 2018, 07:01:51 PM

How is more accumulation time unpleasant? I'm confident that the next ATH will piss on the $20,000 mark, but where it ends up peaking remains to be seen. In other words, buy as many coins as possible.

Right now I cannot buy. Right now I would have preferred to even sell a little bit. Of course, I won't at this price.

And if the history of 2014 is repeating, we'll also have something similar with 2015, meaning the price will still fall for a while and even afterwards it will not recover easily.
If the history of 2014 is repeating, next year will be the one a lot of miners will give up. A lot of individuals will leave crypto world.
All in all, while, yes, the (new) believers with available funds can accumulate, it still looks like a bad year.

BitHodler

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Quote from: NeuroticFish on November 26, 2018, 07:46:23 AM

This would mean that one entire unpleasant year for the markets is still ahead of us.
On another hand this would also mean that the next ATH should be over 300k. Hmmm...

How is more accumulation time unpleasant? I'm confident that the next ATH will piss on the $20,000 mark, but where it ends up peaking remains to be seen. In other words, buy as many coins as possible.

I hope that the next correction won't turn out to be similar to the previous post bull run corrections, because that would indicate that the market is still as immature as it has always been. Not something to look forward to.

These corrections aren't useful to anyone but those who know when to sell and buy back. Maybe that institutions providing liquidity will do the market well overall, because that's basically what it comes down to, liquidity.

exstasie

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We might be close, but we haven't hit the bottom yet.

Pull up a daily candle chart and look at the February 5th bottom. Note the huge volume climax and the large-range hammer candle. That's what a bottom looks like in BTC. Huge volume exchange = everyone who wants to sell already sold, and the hammer = everyone (capitulated bulls, shorters, etc) is chasing price upward now.

The current chart looks nothing like that. It's still droopy as hell. Undecided

STT

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Extreme Fear when we are bullish on a yearly basis. Yea you make a fair point with this I think Grin

Here is my view of recent days and its battle through Fib levels -

I'll go along with a rough take of 3850 and above is a positive move but obviously there is a serious of battles on varied timescales between sellers and buyers and all the various parties on either side

Febo

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Quote from: alexey14 on November 25, 2018, 01:41:18 PM

We are Close To The Bottom:

We are definitely closer then was a week ago. Considering time of the even and the price of Bitcoin at the event.

Wilhelm

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Quote from: talkbitcoin on November 26, 2018, 05:49:30 AM

Quote from: Wilhelm on November 26, 2018, 05:11:12 AM

Quote from: talkbitcoin on November 26, 2018, 05:05:20 AM

that may be the case but usually in cases like this i ask myself this question:
why did the price went down in first place? and then whether that reason is still valid.

in this case the reason in my opinion was manipulation and panic because of FUD. and when that happens there no longer is any bottom. we are in an unpredictable state!

I think we are in a pretty predictable state.
- No real reason to doubt Bitcoin tech
- FUD and despair
- End of year (people need real money for christmas, etc.)
- A lot of similarities with the previous trend reversal after the last ATH crash.

We are about to witness a reversal in trend. Trend will mildly go upward and mostly it will go sideways.

I do not believe we will go below $2k (hopefully not $3k)

with that last statement you are confirming that we are actually NOT in a predictable state. otherwise you could have said $3400ish was the bottom and the trend has indeed reversed. but you can not say that and that means unpredictability.
the same manipulators who dumped the price so far can decide to dump more and keep it down for a longer time or they may run out of power and the price can reverse upwards towards real bottom at $6k...

In my opinion unpredictable means that you have no clue whatsoever on what is going to happen.
It is obvious that we are close to or at the bottom or have hit it and the trend will reverse.
All the FUD is a great indicator for this.

And in fact I do believe that we have hit the bottom and the bottom might get aggressively retested. That is why I mentioned the $2k. Whales are going to keep on pushing until they can't get lower.

So for me it is predictable (as far as stock price predictability goes)

NeuroticFish

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Quote from: gentlemand on November 25, 2018, 05:41:51 PM

Who knows? But here's an interesting comparison chart that popped up today. There certainly are plenty of similarities to draw on there.

This would mean that one entire unpleasant year for the markets is still ahead of us.
On another hand this would also mean that the next ATH should be over 300k. Hmmm...

buwaytress

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Actually totally missed out on that bottom as was just too busy on the weekend. Woke up today and saw the 6.5% bounce. Still feel we're not done yet testing the depths and actually would have felt far better had price just levelled off there. This quick rise to the top suggests people are really happy to take profit at 4k before diving back in. That dive might be a bit too deep for my liking when we're not even in December!

talkbitcoin

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All I know is that I know nothing.

Quote from: Wilhelm on November 26, 2018, 05:11:12 AM

Quote from: talkbitcoin on November 26, 2018, 05:05:20 AM

that may be the case but usually in cases like this i ask myself this question:
why did the price went down in first place? and then whether that reason is still valid.

in this case the reason in my opinion was manipulation and panic because of FUD. and when that happens there no longer is any bottom. we are in an unpredictable state!

I think we are in a pretty predictable state.
- No real reason to doubt Bitcoin tech
- FUD and despair
- End of year (people need real money for christmas, etc.)
- A lot of similarities with the previous trend reversal after the last ATH crash.

We are about to witness a reversal in trend. Trend will mildly go upward and mostly it will go sideways.

I do not believe we will go below $2k (hopefully not $3k)

with that last statement you are confirming that we are actually NOT in a predictable state. otherwise you could have said $3400ish was the bottom and the trend has indeed reversed. but you can not say that and that means unpredictability.
the same manipulators who dumped the price so far can decide to dump more and keep it down for a longer time or they may run out of power and the price can reverse upwards towards real bottom at $6k...

Semaj123

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Quote from: jimbo2000 on November 26, 2018, 04:59:57 AM

TA suggests that $2500-$3500 could be the bottom. That would have allowed the price to come back down all the way to a level it was previously secure at and a bottom that had been tested previously. The comparison from previous crashes is interesting, though if that holds true it would mean another 1-2 years of very slow growth. Though that beats the current trend.

Either way around, let's just hope big whales will start to make some actions that will help the price to increased. On the other side, hopefully its value already reached the bottom and could start to see some increased in order for us to at least make our mind be sometime relaxed.

Wilhelm

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Quote from: talkbitcoin on November 26, 2018, 05:05:20 AM

that may be the case but usually in cases like this i ask myself this question:
why did the price went down in first place? and then whether that reason is still valid.

in this case the reason in my opinion was manipulation and panic because of FUD. and when that happens there no longer is any bottom. we are in an unpredictable state!

I think we are in a pretty predictable state.
- No real reason to doubt Bitcoin tech
- FUD and despair
- End of year (people need real money for christmas, etc.)
- A lot of similarities with the previous trend reversal after the last ATH crash.

We are about to witness a reversal in trend. Trend will mildly go upward and mostly it will go sideways.

I do not believe we will go below $2k (hopefully not $3k)

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

that may be the case but usually in cases like this i ask myself this question:
why did the price went down in first place? and then whether that reason is still valid.

in this case the reason in my opinion was manipulation and panic because of FUD. and when that happens there no longer is any bottom. we are in an unpredictable state!

jimbo2000

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Activity: 336

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TA suggests that $2500-$3500 could be the bottom. That would have allowed the price to come back down all the way to a level it was previously secure at and a bottom that had been tested previously. The comparison from previous crashes is interesting, though if that holds true it would mean another 1-2 years of very slow growth. Though that beats the current trend.

supermine

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I think we got hit the bottom already now the prices is again moving over $3800 so which is the start of bull run maybe so get ready for the bull run before it start by buying the coins on your own or you will regret it later.

LeGaulois

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Others markets (in the same situation than the crypto market) still think they didn't reach their bottom.
Don't know but yesterday the whole market was down by ~15% and this morning it's up by ~15% (Monday?). Too bad I missed few orders yesterday. Bottom or not we still cannot be fixed on what's path the market is going to follow.

Herbert2020

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if by bottom you mean the lowest price after a bubble correction then we used to be close to the bottom. now we are far from it because we are past the bottom. in other words the current price is below the bottom which was $6k!

if by bottom you mean the lowest price that bitcoin can reach in this manipulation phase then it is impossible to say. it can be $3400 that was already set, it can be $2k, or $1k or possibly even lower. although below that would be extremely hard but when whale manipulators are hard at work they can do anything.

the real question in my opinion is how long can they keep it up?

gentlemand

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Quote from: TheAndy500 on November 25, 2018, 07:51:42 PM

Could you explain how the chart from Mt.gox from this year is on that picture?!?! Shocked

It is very possible that the level of $3.5k is the current bottom, but it does not mean that it is the ultimate bottom. It is very likely that another wave will come soon. It will be a big increase and, unfortunately, an even bigger drop.. Even up to $1k! And in my opinion it will be a real bottom, which we should be afraid of.

Check the actual dates on the charts themselves, though it's a rather small pic.

No point in being afraid of a bottom. The more violent and alarming it is the more definitive it'll be. That's what we need after all this dicking around in nowheresville.

TheAndy500

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Quote from: gentlemand on November 25, 2018, 05:41:51 PM

Who knows? But here's an interesting comparison chart that popped up today. There certainly are plenty of similarities to draw on there.

Anyone who's still here may as well stick around and wait it out anyway.

Could you explain how the chart from Mt.gox from this year is on that picture?!?! Shocked

It is very possible that the level of $3.5k is the current bottom, but it does not mean that it is the ultimate bottom. It is very likely that another wave will come soon. It will be a big increase and, unfortunately, an even bigger drop.. Even up to $1k! And in my opinion it will be a real bottom, which we should be afraid of.

Tytanowy Janusz

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I see support at 3k but in my opinion 3,5k holded pretty nice and might stop price for next few weeks. Chart looks very interresting. Thanks for sharing.

Crashing

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Good charts, but don't forget that the price went down on those crashes and stayed down for about one year.
And I can't see any support at current prices. Only at about 2000 USDs.
IMHO, more down to come, after a bounce to make a three day green candle.

Topic: We are Close To The Bottom: - page 3. (Read 833 times)