Bitcoin Forum

https://2.bp.blogspot.com/-oB_Tynznn2c/WnWKoJ4Zt_I/AAAAAAAABfQ/E5JlGxj-MgkntiRO4gYp_bUTlrUhzrOdQCLcBGAs/s1600/BTC.jpg

According to the candle patent it has been suggested that once there is a market movement picking up the new peak there will be a deep decline. This image pattern has taken place and when we see the candle it is exactly the same. For now oversold is over. For mid february I hope this candle patent is broken. Let's take a look and take the right decision.

So as per your calculation now it is oversold and all weak hands are off from bitcoin, so it is good time to reinvest and wait for another pumping of bitcoin price.

I hope so, but my mind will probably go back down to the $ 8000 it is and if the wall in that figure is depleted the possibility of $ 5000- $ 6000 will come. But I hope that does not happen.

Agree with you. Only some conecutive close (not less than 3, better if 5) over 9K will means new up trend

Everyone of us obviously do not want that to happen but we also have to keep in mind that the possibility could still be there. It is still too early to judge anyway if the wall is strong enough and I still have the feelings we may go back testing that bounce back region around $7700 and God help us it holds. I am not really a fan of huge panic sells, but that would actually happen if it does not hold and better to keep tight stop loss in place for a better buy back zone in that case.
However, if we eventually move up, $9k should be one resistance to look forward to breaking if we ever need to go further. Keeping fingers crossed.
Just my opinion!

i cant trade with "mine" "feel" " or whatever it is.... for now just "wait and see" and learn much more about news, candle and everything related to cryptocurrency, before making a decision to re-invest... and  honestly I hope to be able to price $ 4000

This is what happening every time the market goes up higher, we need this healthy correction for a brighter future. Weak people will buy back for sure the saddest thing is that they sold at a loss and buy again at a higher price, we will see this in the coming days.

You may have a point to this but we all know this is all a theory which we can say it's not totally real. I can only say you have the good composition of writing and good analysis and thank you for sharing this opinion i think this might help some issues in the future.

Not sure if the selling pressure has already stopped since there are still some fat sell orders appearing time to time, though I'm still inclined to think that the bleeding is over and $7800 was the bottom of the run. Though it seems that the crash is over, I wouldn't touch the cash for crypto yet until the 2nd week of this month. There's still a lot of things that could happen along the way, and it's hard to make money off of uncertainties when you yourself is uncertain on what direction the market will take.

$8000and then $5600 bounce back to $11000, what doyou think to long term?

Yes this is the fourth month, the movement of BTC is still up and down from 5.5k to 7.5k. I see a thick wall buy at 4k. I think if there is any good news keeps blowing maybe btc will go back up, but if bad news maybe btc can be up to 4k price and if the wall of buy is destroyed maybe will fall deeper again.

Is it not too early? Because I see the wall buy around the 4k price. Probably should be short-term trading or 30% investment.

Yes this is a great idea, but I do not expect BTC to go down, because I prefer to ride again.

Currently the consolidation above $6000 looks to be holding firmly, so as long as we can maintain this for a longer while, we might be up for a tiny bump further on due to the increased confidence in the main bottom. We had to deal with so many lower range adjustments, that people just got demotivated to enter the market, and this will likely change soon for the better. If we are heading down anyway, then it's not because of bad news, but just due to the fact that the support can't hold even current levels. It's too easy to blame bad news for everything, especially in current situation where the market is adjusting itself from hype to regular calm market demand. Think about a race between a Ferrari (hype demand) and a Toyota (normal demand); both cars aren't equal to each other, just like the different levels of demand aren't equal to each other. This is what I consider to be a healthy market.

Thats true regarding the patern above bitcoin is in oversold so the price has calculation to be up again.
But please be wise prediction can not be 100% right so always do your own to pick up the right time because oversold does not mean that the price can not breakout because sometime it can make new support which will be deeper again.

Great thought, yes law Demand and sales are very strong. But is not good news not so influential? I think it is because of the demand that many people have thought about fundamental and technical aspects aloud to enter the marketplace.