Bitcoin Forum

As you all know BTC is very HARD to predict and everyone is trying his best to understand the next MOVE. NO ONE CAN PREDICT WHAT THE KING WANTS TO DO. So Day by Day I have to EDIT my chart cause BTC is so crazy and manipulated that predictions have to change a bit as we go.

The other day I predicted an Horizontal ABC correction where A and C were on the same support line. In this case it was 50% Fibonacci Retracement crossing the TREND LINE (Green). BTC dropts more and passed 50% Fibonacci and it's heading to 61% Fibonacci. As we know FIBONACCI TOOL shows us different levels of retracement and it's never SURE how much something can retrace. There was a nice TREND LINE to destroy and it DID. There is a purpose why I call it TREND LINE and not SUPPORT or RESISTANCE. This is because a TREND LINE shows as the direction of a TREND not where a TREND can stop, sure it can bounce off there but unfortunately it didn't.

NOW it looks like BTC is doing a ZIG ZAG ABC correction where A and C are on 2 different Fibonacci levels 50% and 61%. Next main Resistance is at NUMBER 3 of Elliot Wave (which can become our main SUPPORT), at the same level we have 61% Fibonacci and BLUE LINE SUPPORT LEVEL. Everything cross exactly at 8K which will be my next TARGET for BTC.

As you can see from the OVERALL chart. The correction is happening in a DOWNWARD channel which is creating a BULL FLAG. The base of this CHANNEL is intersecting 8K too. We all know what a BULL FLAG is if you don't google it and check with your eyes.

So at 8k LEVEL we have:
- 61% Fibonacci Retracement
- Main Support Line
- Number 3 Resistance Level
- Base of BULL FLAG

4 indicators that tell us that BTC can really bounce off there.

You might notice the ELLIOT PATTERN and the ABC correction even in the MACD and RSI indicators which are still both POINTING DOWN and they tell me BTC can go to 8k.

NOW... 8k is a very solid number and I do not really think that WHALES and BIG INVESTORS will wait to hit that precise number before to JUMP IN and PUMP the shit out of BTC so, for this reason, I believe the PUMP might happen few hundreds before so around $8200 or later $7800.

GOOD LUCK

Well it just hit 7800 on bitstamp and I can't see any bouncing.

I see a 200 btc wall being eaten very quickly

Took less than a minute to eat it all

Nom nom!

Sod your charts, history says this is going to $2K or less. Being saying this since the end of December.

Maybe you need to factor in to you calculations

1. No one trusts the miners or development team since fees hit $55 and want out
2. USDT is fake money used to pump BTC and other coins and it might be coming to an end
3. Bitcoin won't scale and the Lightning Network is a system of hub banks

Head and shoulders, not many hammers and the tulip curve could well be what your seen
and yes i mad the last one up so don't worry  :D

Grab your toys, go home, take a shower. Lay down. Try not to cry. Cry a lot!

Fat lady just sang!

LE: 7300 USD now. Weeeeeeeeeeeeeeeeeeeeee!

I think will go down to $800 in March and climb back to $1800 by the end of 2018.

It would had gone to about $50,000 but the miners put fees up to $55 and killed the golden goose
and now they are trying to blame India , France , South Korea and everyone else but shussh, don't mention
USDT turning out to be fake, backed by nothing

Well said that man

Not how the general views of people here not running big adverts in all the footer of their comments seem to
be at adds with none vested interest posters here !

It is hard to predict.  I predict it will go down to the lowest it was last year.  And then rise from there.  So people should sell now and then buy when it crashes and get in at the lowest level.   2-3k.  But anybody can be wrong and it could go up.  But I don't think so just now. 

I don't understand even a word what you wrote, never a fan of the charts all I know is, that bitcoin is going to rise, when bitcoin goes down it rises even faster, keep on buying a golden opportunity is coming we'll shall be millioners, this dump was long expected. I'm sure this price shall attract even more people to bitcoin. I feel 7k is a important bench mark now, even last year it went down and then we'll know the way it bounced back. So I'm having faith and being positive on it.

I think bitcoin's down is a good thing, before bitcoin soared, so surprisingly, it's now back to healthy levels, and I think that's the real level. I still have hope for bitcoin, and I think bitcoin is in the 2018 there will be a better period of prosperity.

Please stop with your stupid technical analysis, it does not work in crypto world show me the one who predicted such a big downfall.

That will seem very extreme to most people on here but it's quite possible.

You mean that Bitcoin will become worthless ? 800$ for really dumb-ass?

Lol, my first thought to the post was "which chart are we looking at".

I've been watching the market this morning, and on Binance it was hovering above 8000 while on Gdax well below, ~7500... then boom a massive shift north at 12:50 put Binance up 500 in about 3 minutes, Gdax catching up now.

Charts count for crap when two exchanges are over 10% apart.  Sailing up to 8800, morning resistance and downward trend very broken.  Is that the support or just another dead cat bounce?

If bitcoin drops to $ 800, then the forum may be less than half as bitcoin will drive other cryptocurrencies down together and the cryptocurrencies will be red every day, and I do not think many will ever be able to withstand such a blow .

touched the big support line @ 7900 USD and bounced right off. 8600 USD only 20 min. later. I would like to see it touching a few times to confirm the support for further grow

Don´t believe everything you read, people should not panic and sell and sell, if you have something it is a longterm
investment, especially a project you believe in, I have a couple of coins I invest in, I know the background and the
people who work on it, I trust it will succeed.

I will for sure not sell, especially now, I am not in a panic and can wait, it will go back up, I am sure of it.

I wait until my projects I invested in are final and at that stage I might (or not) take my initial investment out and leave the
rest. You will not be rich overnight,   it takes patience.