Why Bitcoin is Declining? And What’s Next? - page 7.

MonsterV

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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.

kpcian

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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.

danherbias07

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Leading Crypto Sports Betting & Casino Platform

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

Monfex

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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.

Monfex

copper member

Activity: 95

Merit: 2

Quote from: EdvinZ on July 29, 2019, 02:23:50 AM

You correctly noticed. Most likely this is not a reversal of the market on a bearish trend, but only a correction wave, as a stage of a bullish trend. In any case, such waves are a natural phenomenon in the market, they are the result of strong growth that was before them.

Great catch, but what I am seeing now is even more downwards momentum.

Cherylstar86

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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.

Monfex

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Activity: 95

Merit: 2

Quote from: befriendmywater on July 29, 2019, 01:05:42 AM

I think the bitcoin chart will be more negative. As you can see, there are no longer any resistance levels and orders that are seemingly relaxed. And with just a bit of bitcoin from whales, they can make the price of Bitcoin down to $ 8k easily.
I think we should not buy much now. Break down your capital and buy at different prices. That is how to optimize profits and risks.

The Bitcoin chart is looking a negative now. We may be seeing a newly formed downwards trend.

Monfex

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Quote from: sheenaedago on July 28, 2019, 06:42:10 PM

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)

The representation is very well explained, I couldn't agree more to that since chart showed very extinsive market changes. It visualized the true market capability which I think for reasons that all traders who been long term holders grabbed those spiking price, yet dumped it quickly without thinking for another waits. Furthermore, I couldn't state what's next to happen so I need to monitor closely.

We are also keeping a close eye on the movement and we hope it continues the upward trend.

EdvinZ

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You correctly noticed. Most likely this is not a reversal of the market on a bearish trend, but only a correction wave, as a stage of a bullish trend. In any case, such waves are a natural phenomenon in the market, they are the result of strong growth that was before them.

befriendmywater

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I think the bitcoin chart will be more negative. As you can see, there are no longer any resistance levels and orders that are seemingly relaxed. And with just a bit of bitcoin from whales, they can make the price of Bitcoin down to $ 8k easily.
I think we should not buy much now. Break down your capital and buy at different prices. That is how to optimize profits and risks.

Questat

hero member

Activity: 2982

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Quote from: befriendmywater on July 29, 2019, 01:05:42 AM

I think the bitcoin chart will be more negative. As you can see, there are no longer any resistance levels and orders that are seemingly relaxed. And with just a bit of bitcoin from whales, they can make the price of Bitcoin down to $ 8k easily.
I think we should not buy much now. Break down your capital and buy at different prices. That is how to optimize profits and risks.

We can't do anything if we believe on the whales capacity to bring this price down, but what's next? of course the price might go further or rise, they can do that but they will not let this market die and I believe they will end this market a good year for 2019.

But when they dump, that's what we do here and we can sell successfully in short period of time.
Play like how the whales are playing and we will also enjoy.

exstasie

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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.

btc_angela

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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.

sheenaedago

member

Activity: 262

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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)

The representation is very well explained, I couldn't agree more to that since chart showed very extinsive market changes. It visualized the true market capability which I think for reasons that all traders who been long term holders grabbed those spiking price, yet dumped it quickly without thinking for another waits. Furthermore, I couldn't state what's next to happen so I need to monitor closely.

demure

member

Activity: 115

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Hope your vision is correct and bitcoin will start growing again soon Roll Eyes

Monfex

copper member

Activity: 95

Merit: 2

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)

Topic: Why Bitcoin is Declining? And What’s Next? - page 7. (Read 906 times)