Bitcoin Forum

Yesterday we closed well under the 100 day average.
Today we move even further away from it while breaking through the bottom of the triangle.

We've broken major support and nothing is stopping a deep fall.

Also notice how mainly BTC is falling and altcoins remain stable or even raise significantly.

Billions of BTC capital is flowing into blockchain 3.0 technology and people here still believe BTC's blockchain 0.1 Beta tech has a future... lol

Down we go guys,  you've been warned.

The only thing that's broken is your credibility, and that was already the case back in 2015 my man. The current 'dip' is a perfectly normal market movement within the range it has been operating in for some time now. You can't provide any actual worthwhile arguments regarding the current dip, and for that reason you're making a clown of yourself. On top of that, you are only supposed to show up when we are falling below the most recent bottom, and as long as that isn't the case, you don't have anything to do here. Crawl back under your rock and have fun there in the dark!

Yay kwuks back , that must mean we're nearer the bottom than I thought

I can just say that I totally agree with you. Peoples can't realize that this temporary fall is absolutely normal because of this they start to panic and of course, they start to exchange bitcoin for cash. They are afraid of losing their money instead of that people should try to realize how Bitcoin market works. I can see that major bitcoin holders look at BTC/USD chart instead of analyzing the market.

Is your CMC is a real one? or you have your own version that bitcoin is the only coin that keeps on falling? Almost everything is in red, FYI.
Warned for what? Again kwuk here we go again, you keep on spreading FUDs to the weak handlers. For how many times you keep on doing this, you are making me want to HODL more of my bitcoin every time you'll give a statement.
When he talks, there's an opposite reaction.

Exactly what I wanted to say. He must be looking at some kind of very special version.

Crypto is in a boring position right now if you're looking at the prices. It has been like this for almost a month, there's nothing new, and it's not just BTC at all, like you said, it's the whole market. BTC dominance is roughly the same.

Hey Guys, i am active on the Monero speculation forum and noticed that the duck is active here as well. Don’t believe him, it looks like he wants to create fear everywhere

Do you really think a triangle actually influences anything anyway? The price is falling again over fears due to the bitfinex/tether news. it's not because we're passing through some magic triangle. Technical Analysis is only useful given all things remain the same in terms of the market but they never do, news is what shapes opinion.

Seriously. Just stop! You are making people sell and lose their effing money. Every time someone comes with such a statement, the price recover and bounce back pretty quickly. I lost over 5000 euro because I listened to a FUDster like you. Never again.

I did not expect what has happened as I have been encouraged some of my friends to hold there coins. I think the current deep is as a result of facebook banning of bitcoin and others cryptocurrency ad! There is also a lot of uncertainty from Asia market and I think this time around bitcoin might touch $8,500.

See my twitter link for all the gold and silver live price, updates, news, best buy offers and more..  ;)

How did you arrive at this conclusion?

https://i.imgur.com/MUyOZ88.png

Altcoins are heavily correlated to the BTC price.
If you think about it this is entirely predictable, because
most of them don´t even have fiat trading pairs. Therefore
their value in $ decreases if the Bitcoin price decreases, because
they are priced exclusively in BTC.

Second time I've seen this 100-day range being used, so you're also thinking of the 200-day range to be broken next? (100 day has historically already been broken, but never the 200-day yet).

I don't know your charts, alts seem falling at the same rate as BTC in my books. Just as they have since December. I'll add your warning to my growing list of warnings.

Yesterday I read a topic which said that bitcoin broke the triangle and would make a move upwards towards $15 000, today there is a new topic with a new graph and now the bitcoin price will go downwards... Looks to me that bitcoin price is difficult to predict lol.

It's indeed fairly likely bitcoin could now drop to around $8K to find its new support level. I would not be surprised if that happens.

Looking at price will give you a painful heart and it can cause you into selling. You know what, kwuk is on the proper timing of spreading FUD as the whole market is shaken again. Bitcoin will remain as the king and no matter what kwuk says, this dip will be surpassed and if that happens kwuk will never stop spreading his own wrong TA.
Mate he has his own version of CMC.

Thanks for the warning, duck, but we already know it will rise to 25k by march.

That's one funny way to look at it but like you said, bearish trend for now might be over because kwuckduck here says that deep crash is ahead and he is notorious here for always popping out to spread FUD during times when btc is about to rise.
But it becomes easier to predict when this guy pops out.  ;D I said so since he is always like this, posting wrong TA, spreading FUD, And then the opposite of what he posted happens most of the time.

Naah. Calm down. I was going hard against kwukduck in the past as well, but he is just one big troll laughing hard seeing how people here go nuts on him. If you noticed his trend throughout the years, then it's clear that as long as he remains acting like an ultra bear (which in reality he isn't) thinking that Bitcoin will crash and whatnot, the market will keep going up. Seriously, I would start to get worried when kwukduck suddenly turns into a perma bull - that probably would be a good moment to start selling big time. :D

I don't see the crash coming guys, we are unable to break the 10,000$ on the way down. it is a very strong support and I think we will not go below it.

Most bitcoin users which do not adequately respond to the fall in the price of the coins has to its credit a very small amount of coins. They create informational noise around the price. This provokes the panic and helps the whales to buy their assets. I think it's stupid. Price already at the bottom. Forget for a month about bitcoin. This stabilizes the situation in the market and prices will go up. I am sure that the main holders of the coin will not sell them now.

Have you been living under a rock or what? The $10,000 mark isn't strongly supported, and we have already seen the market get dumped down to $9500 on Bitstamp, which now is the third time it happened.

People who keep referring to the $10,000 mark to be a strong support level should really focus on facts instead of acting like nothing has happened. Try to spend more time looking at the market instead of posting nonsense.

I think the big factor that drives the price of bitcoin today is about the bad news against it and just my opinion, no amount of technical graphs could stop the fear and uncertainty of some or many bitcoin holders due to recent news like fb banning crypto ads, and blah, blah, blah..

But I am not one of them though :) I am holding here and is also currently shopping some altcoins that are in reds now.

Do not try to panic newbies ( Unfortunately it usually works).
Prices were manipulated by whales and also due to some bad news and it was normal after big rise.  It won't last long. Every thing will become normal soon.

Wheweeee!

I was scared there a moment before I saw who wrote it. 

Now after I see it is Kwuck I am wondering how much more BTC I can afford at this price.

This month I got $20 from online surveys.  That is $4/hour work.

Bitcoin $1 to $1000 in 7 years in a GIANT BUBBLE TO BURST   >:(

I think kwukduck just posts for comedy value at this point. For what other purpose would he post' He knows that his perma-bear pose is now not taken seriously by anyone. Even if he was right, after so many times of being wrong, it doesn't count.

It's similar to Proudhon, they are legendary perma-bears that became laughing stocks as BTC went higher and higher for years while they claimed it was over since it was like $10.

all of which are just normal market behaviour, i happen even in forex and stocks, and this is not the first time of bitcoin correction, it happened every year so i see no usual things happening in the market! HODL  ;D

I still cannot agree with those guys who are talking about the total crash of Bitcoin. This crypto will show its true power, and it can happen as I think before December 2018 comes.

While I don't agree that there is a deep crash ahead (I think worst case scenario we might see 6-7k. I do think it is worth mentioning a misconception some may have with January being a traditionally bad month. It has been but if you look for example to last year, bitcoin fell about 40% (somewhat comparable) but it was a sharp decline over a few days and then recovered within a week to 10 days. This time round the price has been sliding for quite some weeks now. I see a recovery coming but I don't think it will be a miraculous turnaround.

And so did everyone's favourite bull-market-top-calling duckbear disappear off the face of the board. One minute of silence please. Legend has it that he imploded after being right for the first time in his life.
Well... half right...
Less than half right, alright. Still, a little right anyway, and enough to implode, it would seem.

To be continued...

I don't think that this pattern is valid. price is above the bottom and this will lead us to hit over 10000$ in few weeks.
I think rise is going to be very slow due volume is not high. but i don't think that its going more down from here

https://www.tradingview.com/x/xTZCyiRr/

My post was intended as a joke anyway  :D. It was only making fun of kwukduck's everlasting bearish stance throughout all the bull market. Disclaimer: I have no prejudice against kwukduck even though he seems to have one against bitcoin for some reason.
Also, it's true that he's left us without any news since he disappeared into thin air after that post.

Don't take what I said too seriously and don't try to find any future prediction in there because there is none.

EDIT : Oh, sorry, I've just realized you weren't replying to me, but instead were replying to the first post (or maybe even just the thread's title because it's too hard to read further than that?). Well sorry but the first post is about an old triangle, ans I very discourteously decided to bump it today on a whim :D . No point in replying to it now: said triangle has already proven valid. (And also, there have been two full pages of posts in between the title of the first post and my own  :)).

Reading your entire post history, I can see how wrong you were in your Bitcoin analysis. Even though you've been here since the beginning, it seems like you never really believed in Bitcoin. Too bad it stopped publishing before the high and the price it is today. I would like to know your opinion today if it remains pessimistic like your last analyses.

Lol, this guys is historically perma-bear. Not sure if he is still active though, but during his time here and you can read his post history, that he always downplay bitcoin every time and he has become Legendary in this community for being like that.

Anyway, since know that you are aware of it, there could be other members are well similar to him right now and I will say that you just have to ignore them whenever you can.

There is no need to pay attention to someone who still feels pessimistic about Bitcoin, because it can make your concentration of trust disperse in Bitcoin. So from now on try to avoid people who are still pessimistic about Bitcoin and let them determine their own way for everything and even if one day he will like Bitcoin, let it happen based on his own desires and thoughts without having to involve yourself in it. Because this is about someone's belief in something without any coercion from others.

When many say that if the price can pass $ 30k it will continue to rise but it turns out that the prediction seems to fail, prices are difficult to go higher due to many factors, and in my opinion the global economic conditions which are still in recession make investors prefer to look for safer investments than cryptocurrencies.

One factor that is quite influential at the moment is the FED's decision to still raise interest rates by 25 basis points at the upcoming May 2-3 FOMC session.
Then the Fed will keep interest rates stable for the rest of 2023.
This increase was made to suppress US inflation in order to touch the 2% mark, in accordance with the commitment of the Fed chairman, Jerome Powell.

https://www.forbes.com/advisor/investing/fed-meeting-preview/

Bitcoin finally corrected and also the Bitcoin market also looks saturated after successfully breaking the $30k price.
But this is a good condition for Bitcoin because Bitcoin is slowly transitioning from a bearish market to a bullish market.
The 2023 Bitcoin price increase is a sign for the beginning of the rally towards the next bull market which is likely to occur after the Halving occurs, based on previous cycles.

People can say what's on their mind but it does not mean that it's true because we still can't predict the future. Maybe it's true that we are still in a recession because many companies lately are reducing their employees. Even the gambling business which are known to be a booming industry are also affected because many crypto casinos recently are cutting their bonuses by a lot of folds.

Investing can be said to be one of the ways to survive a recession and it does not matter if what type of investment it is. Each investment has their own pros and cons so don't say that cryptos are very risky when in fact they are also highly profitable when the right time comes.

https://i.ibb.co/W50YN2j/Screenshot-2023-04-30-16-29-28-282-net-metaquotes-metatrader5.jpg (https://ibb.co/9ghCmrS)

This is what I got from my own analysis, the target for this break out is towards $30800, However we have point of control on before the target at 30360 approximately, Where I do expect sellers to come in to try to push the price down, failure to do so and the price break above that level, the bulls now have to fight hard to sustain the price by turning $30360 into a support, in order to further push the price to a new level which is $35k.

It's not just a matter of avoiding a bitcoin pessimist. The issue is that this user who started the topic, has been participating in this forum since August 2010, that is, he already has 13 years of knowledge about the solidity of BTC and about the fundamentals. The user participated in the active era, in the beginnings of every project. And yet this user has the ability to be bearish on BTC. Unbelievable. I don't know what the point of being so pessimistic would be.

Not only by people who know BTC and hold onto BTC for the whole world, so they will be investing more in bitcoin and holding for longer, and I say it will take more time and bitcoin will get back up and down so fast that it will be hard to hold and also the last 100 days is far from the end of crypto.

This is why I'm not a fan of symmetrical triangles as continuation patterns, as they are generally quite unreliable patterns. They rarely meet their targets and often create a double top/bottom prior to moving in the opposite direction, as has happened in this case. I only really acknowledge ascending or descending triangles personally, as these have more clear cut increasing/decreasing support with horizontal resistance.

Anyhow, despite the breakdown towards $28K price is right now at the 5 weeks accumulation zone which price has a good chance of finding support from:

https://s3.tradingview.com/snapshots/p/PLfM4aKH.png

Failing to hold this level and returning to $27K will likely see price slide back down towards $25K support imo, especially now moving averages are crossing bearish on short-term time-frames.

It seems like we can't really make use of it until 2021, and I would rather stay in my comfort zone. I will make sure to have enough funds to invest in BTC than risk all of a bad fall.

Bitcoin investment is a smart choice that will make us rich people, if 10 years ago we missed buying then we have to buy now and hold it for another 10 years, I'm sure 10 years from now the price of 1 btc is equivalent to $ 1 million or more.

Actually, this pessimistic thing is not worth concluding now with him because apart from that user who has been in this forum for a long time, he has also not been active in this forum for a very long time. The last time he was active in this was on February 25 2018 which was the year that Bitcoin experienced a huge price drop after increasing a lot at the end of 2017, so it's only natural that at that time he was pessimistic even though it didn't exist it means to him.

People always love to do FUD, it's easy way out. I support bitcoin through tick and thin and I will keep on buying if it is 15k tomorrow or 40k tomorrow and that is how bitcoin grows. If you have an undying support and love for bitcoin and if every price is the same for your support then that's fine, there is nothing to worry about and that should be fine.

I trust that there is nothing to worry about, it is important to focus on the fact that you are going to be able to actually provide something that is decent, otherwise it makes no sense. I will keep on buying because it is bitcoin, and all these triangle stuff to me are bs and not real. Just keep on buying and holding and it will go up, that is my only truth for bitcoin and nothing else.

The only thing that makes people to propagate for bitcoin investment is not investing when you have invested or when you are supposed to invest in bitcoin, I believe that bitcoin investment does not die and its reason while we have to venture into cryptocurrency investment for long duration than short term investment, so if you want make profit in bitcoin investment do not look after the present price, because looking at the price you will be discouraged for the Investment, if you have target of investment duration, the possibility of you making profits is there.

The market looks hard to go up, if we have big capital strength then now is a good time to buy, i believe in 2 or 3 years the price will reach $100k or more means more than 300% increase, no investment gives 100% profit % in a year and bitcoin opened up the opportunity.

Let bitcoin continue to decline and those that still believe in it will continue to acquire more and more. What I can always count on is that Bitcoin's price will eventually increase, regardless of how much it drops.

So what other reason do I have to be concerned about the current price decline than a chance to buy more.

However, all of my Bitcoin investments, are made for the future rather than the present. That has been my driving force to use the bear market as an opportunity to buy additional bitcoin rather than worry too much about it.