Why Bitcoin is Declining? And What’s Next? - page 6.

Monfex

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Quote from: Oilacris on July 31, 2019, 05:45:10 PM

Quote from: btc_angela on July 31, 2019, 06:51:09 AM

Quote from: exstasie on July 28, 2019, 10:31:25 PM

Quote from: btc_angela on July 28, 2019, 09:08:00 PM

Question though, why do we need to buy at $10k? When we can buy at the current price of $9500-$9600 and then take profit at $10k++? I'm seeing a bullish sentiments, as we have hit a "golden-cross" again, just saying.

Because the chart and trade are actually from ~ July 19th. The OP is just re-posting the trade, which according to the parameters is still active......and in the red.

If we break above the last daily high ~ $10,250 then I'm ready to turn mid term bullish again. That would constitute a strong rejection of further downside. Until then, I'm still waiting this out and not going long. We haven't shown reversal signs on any time frames higher than the hourly.

Funny thing is, we haven't break the $10k price barrier for what? a week already. I thought that the golden cross is good thing. Anyways, this is TA and it's not a guarantee, so let's see how it goes. I'll just continue to hold then, not going to take short profit this time.

We did actually able to hit up 10k mark atm but it didn't wen through a few hundreds more but stabilize its price into that range playing with sub 10k price.
About that golden cross it didn't make any hype to try to drive the price up but lets see on what would happen on next weeks to come in crypto market.

It seems like the price is starting to consolidate at 10k, and if we could get more volume we could definitely be off to the next resistance at 11k.

Monfex

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Quote from: Hypnosis00 on July 31, 2019, 05:10:11 PM

It looks like Bitcoin is turning its head to bounce back and rise again. We are started to move high since yesterday...its have to look in a zigzag line and it tried to gain some more resistance before then. Have this trend will continue for the next couple of months and to finally see the bull run this year.

We are definitely seeing some resistance at 10k. It seems to be a nice round number for shorts. Once we break that, next is 11k. But the momentum is building up and we may see a rise soon.

Monfex

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Quote from: akram143 on July 31, 2019, 03:01:13 PM

But the improvement is easily visible for everyone when we think that Bitcoin value is not going well it suddenly rise up and impress our investment so that we do not say Bitcoin is always going down only it sometimes it is getting better for the traders to get better profits for their certain investment and I think the future will made the development to be increased.

The future definitely looks bright with Bitcoin, and I can see it hitting 12k in the nearest future, but there a couple resistance layers we have to break through first.

Monfex

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Quote from: mersal on July 31, 2019, 12:14:30 PM

Next? Bitcoin is about to reach $10000 again which means the prices starts to recover so phase for the investors to make most out of it or we will not be able to see this prices anymore.

It is starting to consolidate at 10k and the RSI is recording higher lows, so this may be the momentum we need to push past 10k to 12k. But the volume needs to increase in order for this to happen.

Monfex

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Quote from: btc_angela on July 31, 2019, 06:51:09 AM

Quote from: exstasie on July 28, 2019, 10:31:25 PM

Quote from: btc_angela on July 28, 2019, 09:08:00 PM

Question though, why do we need to buy at $10k? When we can buy at the current price of $9500-$9600 and then take profit at $10k++? I'm seeing a bullish sentiments, as we have hit a "golden-cross" again, just saying.

Because the chart and trade are actually from ~ July 19th. The OP is just re-posting the trade, which according to the parameters is still active......and in the red.

If we break above the last daily high ~ $10,250 then I'm ready to turn mid term bullish again. That would constitute a strong rejection of further downside. Until then, I'm still waiting this out and not going long. We haven't shown reversal signs on any time frames higher than the hourly.

Funny thing is, we haven't break the $10k price barrier for what? a week already. I thought that the golden cross is good thing. Anyways, this is TA and it's not a guarantee, so let's see how it goes. I'll just continue to hold then, not going to take short profit this time.

We finally crossed the $10,000 price point yesterday, and there is a short term trend forming up. The RSI is recording higher lows, but at the moment it is still in the oversold range. This could either be a normal fluctuation, or signs of good things to come. If the volume increases and we hit the 12k mark, we may be in for a nice bullrun.

mersal

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Next? Bitcoin is about to reach $10000 again which means the prices starts to recover so phase for the investors to make most out of it or we will not be able to see this prices anymore.

Oilacris

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Quote from: btc_angela on July 31, 2019, 06:51:09 AM

Quote from: exstasie on July 28, 2019, 10:31:25 PM

Quote from: btc_angela on July 28, 2019, 09:08:00 PM

Question though, why do we need to buy at $10k? When we can buy at the current price of $9500-$9600 and then take profit at $10k++? I'm seeing a bullish sentiments, as we have hit a "golden-cross" again, just saying.

Because the chart and trade are actually from ~ July 19th. The OP is just re-posting the trade, which according to the parameters is still active......and in the red.

If we break above the last daily high ~ $10,250 then I'm ready to turn mid term bullish again. That would constitute a strong rejection of further downside. Until then, I'm still waiting this out and not going long. We haven't shown reversal signs on any time frames higher than the hourly.

Funny thing is, we haven't break the $10k price barrier for what? a week already. I thought that the golden cross is good thing. Anyways, this is TA and it's not a guarantee, so let's see how it goes. I'll just continue to hold then, not going to take short profit this time.

We did actually able to hit up 10k mark atm but it didn't wen through a few hundreds more but stabilize its price into that range playing with sub 10k price.
About that golden cross it didn't make any hype to try to drive the price up but lets see on what would happen on next weeks to come in crypto market.

Hypnosis00

sr. member

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It looks like Bitcoin is turning its head to bounce back and rise again. We are started to move high since yesterday...its have to look in a zigzag line and it tried to gain some more resistance before then. Have this trend will continue for the next couple of months and to finally see the bull run this year.

akram143

full member

Activity: 1106

Merit: 166

★777Coin.com★ Fun BTC Casino!

But the improvement is easily visible for everyone when we think that Bitcoin value is not going well it suddenly rise up and impress our investment so that we do not say Bitcoin is always going down only it sometimes it is getting better for the traders to get better profits for their certain investment and I think the future will made the development to be increased.

btc_angela

hero member

Activity: 2660

Merit: 551

Quote from: exstasie on July 28, 2019, 10:31:25 PM

Quote from: btc_angela on July 28, 2019, 09:08:00 PM

Question though, why do we need to buy at $10k? When we can buy at the current price of $9500-$9600 and then take profit at $10k++? I'm seeing a bullish sentiments, as we have hit a "golden-cross" again, just saying.

Because the chart and trade are actually from ~ July 19th. The OP is just re-posting the trade, which according to the parameters is still active......and in the red.

If we break above the last daily high ~ $10,250 then I'm ready to turn mid term bullish again. That would constitute a strong rejection of further downside. Until then, I'm still waiting this out and not going long. We haven't shown reversal signs on any time frames higher than the hourly.

Funny thing is, we haven't break the $10k price barrier for what? a week already. I thought that the golden cross is good thing. Anyways, this is TA and it's not a guarantee, so let's see how it goes. I'll just continue to hold then, not going to take short profit this time.

Monfex

copper member

Activity: 95

Merit: 2

Quote from: danherbias07 on July 30, 2019, 03:51:52 AM

Quote from: Monfex on July 30, 2019, 03:34:20 AM

Quote from: Cherylstar86 on July 29, 2019, 05:39:22 AM

For me this declination of bitcoin price now was still part of the tough corrections that needed in order for another price recovery. That's my perception and I don't contradict to other's idea, because we're independent with our outlook with bitcoin. We can say any definite observations based on how we feel and observe.

There will definitely always be corrections, but now it looks like we have a downward trend forming.

Yes that is right.
It looks like you are getting some good predictions here and you almost hit the right numbers.

But for me, it looks like another normal fluctuation that will happen again for a month or maybe a couple. Just like it did the last time. Something like a rest point then back to another bull run being joined by another correction afterwards. Correction or we could say, taking profits. Grin

I like the optimism, because I'm patiently waiting for another bull run. It is way more fun to analyze trends going up!

Monfex

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Quote from: kpcian on July 30, 2019, 04:54:50 AM

Damn,
It's not the right thing what did you mention here. Bitcoin is not decreasing I think this is the real scenario of this track, Ups and downs are the main trendy of this one. Well, now the price is falling down so you see this scene is the last stage of this one but when the price goes up then what do you say about this situation.
I do believe that Bitcoin is the largest platform in the crypto world so it might go so long. Otherwise, the Crypto world will face a huge lack of trust. that's why Bitcoin will alive for a long time.

I agree that Bitcoin will be around for a long time. It's the currency made by the people, for the people. This may be a small hiccup in the bigger picture.

Monfex

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Activity: 95

Merit: 2

Quote from: MonsterV on July 30, 2019, 05:21:47 AM

Quote from: danherbias07 on July 30, 2019, 03:51:52 AM

Quote from: Monfex on July 30, 2019, 03:34:20 AM

Quote from: Cherylstar86 on July 29, 2019, 05:39:22 AM

For me this declination of bitcoin price now was still part of the tough corrections that needed in order for another price recovery. That's my perception and I don't contradict to other's idea, because we're independent with our outlook with bitcoin. We can say any definite observations based on how we feel and observe.

There will definitely always be corrections, but now it looks like we have a downward trend forming.

Yes that is right.
It looks like you are getting some good predictions here and you almost hit the right numbers.

But for me, it looks like another normal fluctuation that will happen again for a month or maybe a couple. Just like it did the last time. Something like a rest point then back to another bull run being joined by another correction afterwards. Correction or we could say, taking profits. Grin

Well, this time I really see the trend to go back down since July 28, the picture of bitcoin chart on the RSI and STO indicators is overbought which means that this can be a continuation trend to go down. This time I am still monitoring and not buying bitcoin, I waited until the support area of $9200 to buy in stages.

Good catch. I can see it going down to that level, but right now it has some momentum. Lets see if it can break above the 10k mark. That would be a great indication of good things to come.

semobo

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After you drop Bitcoin goes into the good level so we cannot expect anything more than this and the future will definitely perfect for the development and also investor got the idea about how the future is so this is enough for your investors to move on.

Monfex

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Quote from: Cryptostudio.info on July 30, 2019, 09:20:31 AM

bitcoin had fallen to 3200 this winter and now we are at around 9500 after it has gone from around 13500 I would say that it now consolidates on the 10,000 or drops to 7000 and will remain there for a few months, this is just my opinion clearly

It looks to be consolidating around the 10k range. If it drops below the $9,200 resistance range, I can see it going towards 7k definitely.

Monfex

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Quote from: arpon11 on July 30, 2019, 10:54:14 AM

Quote from: Monfex on July 28, 2019, 06:08:19 PM

Why Bitcoin is Declining? And What’s Next?

It’s important to emphasize that the current downward move we’re seeing right now is a corrective wave within an upwards trend, and not a trend reversal.
In case of BTC, a hypothetical decline below a significant support at $7,500 would send a strong signal of a possible trend reversal. The retracement we’re observing now is a ‘market noise’ - meaning, it is a short-term trading volatility that does not alter the long-term trend for Bitcoin .

In bull markets, corrective waves occur regularly, since any price trend, by definition, consists of a series of waves and counter-waves.
Both technical and fundamental approaches to market analysis indicate a positive long-term outlook for Bitcoin. Currently, the price is adjusting downwards closer to its mean value (i.e. central tendency), which creates a good opportunity to buy Bitcoin with a ‘tight’ stop-loss, thus ensuring an attractive risk/reward ratio.

The fundamentals of the Bitcoin network are improving every month - we are seeing increasingly higher numbers of Bitcoin active wallets, Bitcoin daily transactions, and Bitcoin hash rates, all of which indicate an increasing demand for Bitcoin . For example, an increase in the number of Bitcoin active addresses used is associated, by definition, with an increase in global adoption and use of Bitcoin. This translates into increased demand for Bitcoin, which leads to an increase in Bitcoin market price. Since the trend of improving fundamentals continues upwards, we’re expecting to see further price increases of Bitcoin .

Active Trade Signal:
- Buy at $10,000
- Take-profit at $15,000
- Stop-loss at $8,000
- Forecasted P&L: $50,000 per 1 lot with 10x leverage
- Risk/reward ratio: 1:2.5 (very attractive)

Many people especially the fundamental traders will not understand the principle behind Eliot waves theory, the Fibonacci level and pivot point and as such any pull back is always be taking as trend reversal. I have been in trading of liquid assets for more than ten years and when I see people talking about trend reversal in the face of the little move, I always see them as an ill inform traders or investors and it is because of the fear that the whales are make good money. I think we are still strongly in a bullish trend and this bullish trend is going to last till the end of next year.

BTC is still up 154% YTD so it has been bullish the whole year overall. But since July 10, we have been seeing a steady downwards trend recording lower lows, and lower highs.

Monfex

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Quote from: Naida_BR on July 30, 2019, 11:50:18 AM

Many people already have a Take profit target at 15k.
This is the reason why Bitcoin will struggle for much time to overtake this level and reach a new all time high. We noticed that before and we are going to notice the same movement many times in the future.

It is good level to take profit, and it seems like this has happened on this last bull run. On the next bull run, I will analyze this again and see if it can break through 15k.

Naida_BR

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Many people already have a Take profit target at 15k.
This is the reason why Bitcoin will struggle for much time to overtake this level and reach a new all time high. We noticed that before and we are going to notice the same movement many times in the future.

arpon11

sr. member

Activity: 882

Merit: 282

Quote from: Monfex on July 28, 2019, 06:08:19 PM

Why Bitcoin is Declining? And What’s Next?

It’s important to emphasize that the current downward move we’re seeing right now is a corrective wave within an upwards trend, and not a trend reversal.
In case of BTC, a hypothetical decline below a significant support at $7,500 would send a strong signal of a possible trend reversal. The retracement we’re observing now is a ‘market noise’ - meaning, it is a short-term trading volatility that does not alter the long-term trend for Bitcoin .

In bull markets, corrective waves occur regularly, since any price trend, by definition, consists of a series of waves and counter-waves.
Both technical and fundamental approaches to market analysis indicate a positive long-term outlook for Bitcoin. Currently, the price is adjusting downwards closer to its mean value (i.e. central tendency), which creates a good opportunity to buy Bitcoin with a ‘tight’ stop-loss, thus ensuring an attractive risk/reward ratio.

The fundamentals of the Bitcoin network are improving every month - we are seeing increasingly higher numbers of Bitcoin active wallets, Bitcoin daily transactions, and Bitcoin hash rates, all of which indicate an increasing demand for Bitcoin . For example, an increase in the number of Bitcoin active addresses used is associated, by definition, with an increase in global adoption and use of Bitcoin. This translates into increased demand for Bitcoin, which leads to an increase in Bitcoin market price. Since the trend of improving fundamentals continues upwards, we’re expecting to see further price increases of Bitcoin .

Active Trade Signal:
- Buy at $10,000
- Take-profit at $15,000
- Stop-loss at $8,000
- Forecasted P&L: $50,000 per 1 lot with 10x leverage
- Risk/reward ratio: 1:2.5 (very attractive)

Many people especially the fundamental traders will not understand the principle behind Eliot waves theory, the Fibonacci level and pivot point and as such any pull back is always be taking as trend reversal. I have been in trading of liquid assets for more than ten years and when I see people talking about trend reversal in the face of the little move, I always see them as an ill inform traders or investors and it is because of the fear that the whales are make good money. I think we are still strongly in a bullish trend and this bullish trend is going to last till the end of next year.

Cryptostudio.info

jr. member

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bitcoin had fallen to 3200 this winter and now we are at around 9500 after it has gone from around 13500 I would say that it now consolidates on the 10,000 or drops to 7000 and will remain there for a few months, this is just my opinion clearly

Topic: Why Bitcoin is Declining? And What’s Next? - page 6. (Read 906 times)