Will Bitcoin reach $ 3884 again? - page 3.

TrevorS

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Quote from: sujonali1819 on March 16, 2020, 02:58:51 AM

Price is dumping again and now BTC is trading around 4800$. It’s very possible to hit again below 4000$. If Btc will not recover soon from current price to above of 5000$ we can it will hit again to 3884 even less. I can not understand actually what are happening with markets.😥

Everything is obvious. All markets are in recession, and the cryptocurrency market is with them.

If prices fall, large market makers sell their assets, then they believe that it is more profitable for them than trying to keep the price at a level,
because in the end, in a panic, they will sell bitcoin in the first place turn to save the value of other assets.

Asuspawer09

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Quote from: STT on March 24, 2020, 06:59:03 PM

Hard to call it bearish when its moved so much but I will agree we are in no defined uptrend so expect pullbacks, profit taking and revision of these prices. People will be looking for a top to the price I think and we have a natural level indicated by the largest bar on the chart recently I think:

So this whole area of sub 8000 is up for grabs, its hard to dismiss that level as possible having seen how far BTC surges at times as well as the sharp sell off possible also. I dont doubt it for the meantime, each band is some significance in prior lows and high closing prices.
6000 is the marker for the weekly phase, positive momentum to the price. I'll watch that area before I presume its going to pull back.

Reaching the price of 3884$? what I think possible at this time of crisis and I think at any moment market price of bitcoin could go down at any moment but nothing to worry since the market price of bitcoin is normally volatile the market price could go up and down at any moment. At this moment the market price of bitcoin is already having its resistance at the 7000$ i think the bitcoin is still recovering from the past from that do not normally happen a dump from 9000$- 3000$ could be alarming.

Still, bitcoin already has its demand from the community surely a lot of investors is just waiting for this dump to happened and invested in the 3000+$ price in the market and already waiting for the right time to sell off their bitcoin in the right price may be around 8000$ could already be a great profit.

gentlemand

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Welt Am Draht

Quote from: exstasie on March 24, 2020, 08:22:32 PM

BTC drops 63% in a crisis, and you think that makes shitcoins more attractive? Grin

He's gone BSV. This is now a recognised medical condition but sadly research into it has been sidelined by the current crisis.

Symptoms include believing your piece of shit is somehow immune to all the problems that ever single other project has. As the infection takes hold reason and the ability to reason gradually shuts down until the patient is in a state of critical denial and cannot be reached by any means at all.

They feel an urge to force their points of view on others at a time when it's vital that they're placed in absolute self isolation. As of right now there's no known cure.

The WHO has advocated sticking a fork in them and leaving them on the Andaman Islands.

exstasie

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Quote from: fabiorem on March 24, 2020, 10:35:56 AM

We might also be losing the opportunity of losing money too. Lets say you buy now, and in three days it plunges again.
Much better to hold what you have (since the price is too low to sell, miners are spending $8k to manufacture one bitcoin at the moment) and only buy in sub-1000s levels, than be greedy and lose money afterwards.

Buying into an 80% rise during a powerful downtrend is pretty greedy. Expecting sub-$1,000 is probably even more greedy.

Reality is probably somewhere in between: we're not going to the moon and we're not going to hell either. Greedy and fearful traders will be chopped up by a volatile range market instead.

Quote from: fabiorem on March 24, 2020, 10:35:56 AM

At least Trump knows the virus is a HOAX and maybe this circus is going to end sooner than we expect.

A hoax? What the hell does that mean?

Quote from: fabiorem on March 24, 2020, 10:35:56 AM

Besides, there are other products to invest too, including other cryptocurrencies, since bitcoin proved to be useless against financial crisis in the fiat system, going lower than any other asset.

BTC drops 63% in a crisis, and you think that makes shitcoins more attractive? Grin

STT

legendary

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Hard to call it bearish when its moved so much but I will agree we are in no defined uptrend so expect pullbacks, profit taking and revision of these prices. People will be looking for a top to the price I think and we have a natural level indicated by the largest bar on the chart recently I think:

So this whole area of sub 8000 is up for grabs, its hard to dismiss that level as possible having seen how far BTC surges at times as well as the sharp sell off possible also. I dont doubt it for the meantime, each band is some significance in prior lows and high closing prices.
6000 is the marker for the weekly phase, positive momentum to the price. I'll watch that area before I presume its going to pull back.

fabiorem

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Quote from: milewilda on March 23, 2020, 04:38:43 PM

Im not saying that we wont see a 3 digit price yet nothing is certain into this crypto world but im aint a technical type of guy but if we do try to look on the current condition
then it might not able to break that strong 3800 support.We might have just able to witness and just missed out that opportunity on accumulating cheap coins when it dip in those low level
but well everything does have the possibility.

We might also be losing the opportunity of losing money too. Lets say you buy now, and in three days it plunges again.
Much better to hold what you have (since the price is too low to sell, miners are spending $8k to manufacture one bitcoin at the moment) and only buy in sub-1000s levels, than be greedy and lose money afterwards.

At least Trump knows the virus is a HOAX and maybe this circus is going to end sooner than we expect.

Besides, there are other products to invest too, including other cryptocurrencies, since bitcoin proved to be useless against financial crisis in the fiat system, going lower than any other asset.

coinfinger

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The good thing about bitcoin is the fact that we have peaked at 14k last year when we were at around 3.5k levels, everyone imagines that every single increase is the limit we have and we can't do that again.

This year we moved from 7k to 10k and everyone was like "this is how bitcoin increases", I am sorry but it is not, lets forget about what has happened in the past 10 years and the times bitcoin started the year at 700 dollars and peaked at 20k, that HAS happened before in 2017 but lets forget that, or lets forget the time when it was 20k but moved to 3k in the same year at 2018, that HAS happened as well.

Focus on just one previous year, last year around these times we moved from 3.5k to 14k and went back down to 7k as well. So, what does that tell us? We could be 3k or we could be 10k, there is always a chance to be 15k in both of those situations.

Btc_1856

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Quote from: STT on March 23, 2020, 08:05:51 PM

Quote

The fourth wave didn't go up above the 0.618 (that is, $12k)

Didnt close above that price maybe on weekly bars but its traded above 12k with some volume transacted. The way that chart is drawn looks bullish to me, positive trend and short term trend that was negative passed. I think BTC has more work to do but its been bullish since the low recently.

As of now, still, the price of Bitcoin is in a bearish mode, which it is impossible to predict the current situation of the Bitcoin. There are changes in both ways in order to increase/decrease, but as of now, bitcoin is becoming very stable at the current value so there is a huge chance to increase the price of Bitcoin.

STT

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Quote

The fourth wave didn't go up above the 0.618 (that is, $12k)

Didnt close above that price maybe on weekly bars but its traded above 12k with some volume transacted. The way that chart is drawn looks bullish to me, positive trend and short term trend that was negative passed. I think BTC has more work to do but its been bullish since the low recently.

exstasie

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Quote from: fabiorem on March 23, 2020, 12:15:54 PM

Here how it goes. 5 waves, the second wave is higher than the fourth, but the first is lower than the third. The fourth wave didn't go up above the 0.618 (that is, $12k) in the fibo sequence, which denied a recovery for bitcoin.

This means the fifth and last wave will be lower than the first, that is, sub-2000 levels. Three digits is very likely to happen. Prepare your shopping carts.

What kind of wave analysis is that? It's definitely not Elliott Wave Theory. The waves are all out of order. I'm also not sure that linear trend line is that meaningful. You should pull up a logarithmic chart if you're analyzing multi-year charts with exponential moves.

As far as bearish analysis goes, I think Masterluc's EW count is more likely:

milewilda

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Quote from: fabiorem on March 23, 2020, 12:15:54 PM

Here how it goes. 5 waves, the second wave is higher than the fourth, but the first is lower than the third. The fourth wave didn't go up above the 0.618 (that is, $12k) in the fibo sequence, which denied a recovery for bitcoin.

This means the fifth and last wave will be lower than the first, that is, sub-2000 levels. Three digits is very likely to happen. Prepare your shopping carts.

Im not saying that we wont see a 3 digit price yet nothing is certain into this crypto world but im aint a technical type of guy but if we do try to look on the current condition
then it might not able to break that strong 3800 support.We might have just able to witness and just missed out that opportunity on accumulating cheap coins when it dip in those low level
but well everything does have the possibility.

Quote from: Smitty Werben Man Jensen on March 23, 2020, 02:58:44 PM

$ 3800 is a magnet for bitcoin right now, even though the price is above the MA200, I can't be sure that it's safe before the Bitcoin price returns $ 8,000, then strong support is at $ 3800, hoping that $ 3800 won't be met again in the following supports

Nothing is safe and everything can happen in a blink of an eye or least expected.So i wont be surprised if there would be some breakouts soon depending on how this market behaves.

bearexin

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No. I wasn't really sure about what will bitcoin do and I wasn't really looking at what it might do in the long term because I didn't do my research properly for something as big as this before and after it happened I was caught off guard as well so I wasn't ready to answer this. Now that everything is said and done and we are now playing all cards open I know what bitcoin can do and can't do.

I can tell you that bitcoin will not be 100k this year, I can almost guarantee it, as guarantee it as you can something in crypto world, I can also tell you that it will not go under 3884 again, that will not happen, I can guarantee that as well as much as I can. Of course do not make any trades or decision based on what I say but this is exactly what I am basing my own trades on.

Smitty Werben Man Jensen

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COMBONetwork

$ 3800 is a magnet for bitcoin right now, even though the price is above the MA200, I can't be sure that it's safe before the Bitcoin price returns $ 8,000, then strong support is at $ 3800, hoping that $ 3800 won't be met again in the following supports

fabiorem

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Here how it goes. 5 waves, the second wave is higher than the fourth, but the first is lower than the third. The fourth wave didn't go up above the 0.618 (that is, $12k) in the fibo sequence, which denied a recovery for bitcoin.

This means the fifth and last wave will be lower than the first, that is, sub-2000 levels. Three digits is very likely to happen. Prepare your shopping carts.

TheGreatPython

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It looks like 3884 may not happen again. Corona has already happened, we are already there, the financial world already responded to it, bitcoin already fell down because of it. There is no way we will have another response to it because we already gave our answer already. I assume price is at the bottom already, we will go forward from this and go back up.

I see 10k in 2020 and I am not even joking, I do see an insane increase in stock markets as well. Many companies were affected because of this but a lot of them were basically still the same. Just to give an example the stock prices for google is down right now it was around 1247 and now it is around 1119, that is significantly lower, how could a virus that makes you stay at home could affect google? Same happened to amazon. Those will eventually go back up, I am 100% sure.

STT

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Revision of prior range is quite normal. We rise but hit previous trends to selling and the weight of those with orders unfilled, quite a few people want to trade and make an immediate gain but get caught out and become part of the resistance on the graph to higher pricing.
It takes time in short, thats before any wider effect and main markets themselves and so on. 6000 should be taken as resistance short term and I think we have the longer term levels to consider also.

Rough area to watch is 5600, if we can stay above then we can consider if it can move positively into the week.

hatshepsut93

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Quote from: gentlemand on March 20, 2020, 06:38:06 AM

It's done it once. It could do it again easily enough. It may however become one of those mythical one time events that are talked about for years afterwards. It happened around a set of circumstances that will never happen again. Bitmex fucking up was probably the prime factor, but the start of a global rout only happens once.

Of course there will be many more economic crises in the future, but if Bitcoin will be at much higher level than it is now, it wouldn't crash to $3.8k ever again. So, there's a big chance that this price won't be seen ever again. I think the highest chance for it to happen is now - if the situations for some reason quickly worsens and the same circumstances happen again - a sudden crash across the markets, then Bitcoin could dive again.

Smitty Werben Man Jensen

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COMBONetwork

we are still in a bearish market situation, if there is still a corona virus pandemic in the world not over, then we must be careful for trading, high volatility will always be there, even bitcoin is rumored to plunge at $ 1000 and will make a long accumulation before bullish again, stay safe everyone

bitgolden

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Not going to lie I actually said that bitcoin will never go under 5k again because it was looking super strong and it did managed to go under 5k because of this virus out break so I no longer talk that surely about anything and I can't say that bitcoin will never be 3884 again, that is no longer possible because as we have seen already bitcoin can do anything and everything people want it to do.

We all got scared and sold and eventually that lead to bitcoin going under 4k once again after a lot of time (almost over a year) and now we are back above 6k so it looks like it was a mishap and people actually realized that it was a mistake and bought back but that doesn't mean they won't be scared again. One more scare like this and we may see it go back down again.

Botnake

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Quote from: okala on March 22, 2020, 01:42:50 AM

It is still very possible for bitcoin to fall to $3880 and even below but that is not what matter. It is how bitcoin do recover from it downward trend that matter and it is patience we need more than any trading strategy in this cryptocurrencies market. I believe that bitcoin is far better now than stock and commodity market.

That's good for crypto market, the price has recovered and it stayed at $6000 now, very far from the price below $5000 which people think bitcoin could fall further, and good thing it didn't happen and hopefully there will be no more major dump incoming so slowly bitcoin will be back to $8000, a $10,000 is already a great bonus but it could happen as well.

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