Bitcoin Forum

https://i.ibb.co/nLxvZ28/2019-08-12-0859.png


Time to sell, wait for $10500 and buy again.

This way you will either lower your average price, or gain more BTC.

The choice is yours.

Bitcoin doesn't just drop to $ 10k5, it falls to $ 10k. I saw a Kangaroo kangaroo tail, which is a sign of reversal.
It will soon happen and our market will be red in the next few days. This is a short sale. Thank you for the reminder.

Slowing getting there.

$11220.


Not sure if sarcasm or not. I don't know what is a kangaroo tail, even though I traveled in Australia a few years ago but never met traders there.

Care to elaborate?




By the way for safety reasons I adjusted my prediction to 10.8k.

The market was still unpredictable, even no matter how expert you are still in the end your technical analysis still not precise.
Though, the price so far of bitcoin was decreasing but we don't know how long will gonna dump its price while some holders are
getting panic or worry anyhow.

Oh yeah, this trendline could be retested again or maybe not. so, in the end its up to your investment strategy. if you are in for longterm, no need to sell now. if you are a short term trader, its a good advice, if the trendline won't be retested again, a new chance for a trade will come.

You really have deep knowledge on how one should play around and increase he or her bitcoin. Take profits using little price movement is better than holding  when Bitcoin is flipping up and down. I agree with at @op that Bitcoin will test $10800 support level as the current volume cannot support going forward in pricing. However, after testing $10800 it might jump to $12,200 resistance level as it has been happening before.

EDITING AGAIN:


Prediction back to $10,500, it's going down quickly now, maybe even $10,200 for the bravest!



Anyway you are already in profit if you followed this topic's advise!!  :-*

Already sold out when the price hits up 11,800.Im basing on 3D TF too and do have the same price pullback into these levels $10,200 is indeed a good spot to enter on.

I would not be too quick to judge based on what some charts are just telling us in figures, you cannot rely on technical analysis alone without also mixing it with the fundamental factors, because anything could happen tomorrow that would really change the way the value moves.

What you are suggesting here is for a short term trade though, because I would not see any reason why a long term trader will care much about that since there goal is to take profit when the coin becomes really pumped during the next bull run, so even if we don’t sell now and the market drops to that $10k of yours, we will still just top up the one we have already so as to avoid missing out, because you could say that the market will move downward, and then reverse would be the case.

Thanks for sharing your experience. While if all the people sell now, your scale chart will be changed as well, right? or no?

Sold @ $11300 and right now I'm waiting to see whether we can touch $10500 again before I pull the trigger and buy some more. Perhaps the coins that I will snatch after the quick dip would be in the haul for the long term since short-term price movements are still range bound and seems to be not breaching $12000 any time sooner. A good advice indeed, since a profit is already made @ $11k region and this opportunity right here is pretty rare, considering how price stayed in the upper $11000 before stepping down to high $10k levels again.

I don't think that price will drop to below $10,500 this year. I expect more bull run after price drop for a while.  Holding is better than to sell and wait to reenter again.

Fundamentals aren't really that relevant generally. It is that we have the block halving as fundamental event being important currently, otherwise the market ignores them all the time as we have seen back in 2017 on the way up and 2018 on the way down. The fundamental value is just the bottom to bottom development, the rest is driven by speculation.

If there is something fundamental that will force a change in the trend of the market, then traders will adapt and follow the new trend until that one reverses too.

Well done.

In the meantime we are almost at $10,5k. Will probably buy back today, or wait a bit for $10,2k, not sure yet but anyway it does not matter it's already a profitable trade.  :P

hmm yeah, I think it's true that 10,500 is the next closest support line and I have sell it when MA50 & MA100 cross and BTC has broken support. I will try to buy back at the next 10,500-10,700.

https://i.imgur.com/RD6ihvE.jpg

As I can see now at the price of bitcoin, it really went down to 10, 400$ and now getting goes up again little by little.
Now it is really good to buy and hold em for awhile. By the way you are good in technical analysis huh! how did you know
that it will decreased its price in the market dude?

I was watching the minute line as we went through and it didn't seem to hold up much resistance on the first go through it at least (there may be retests)...

WE can probably expect to go a bit lower but I'm not sure how far before return. There's probably going to be a lot of support at the $10000 mark...

Atm bitcoin is at $10.5xx, are you sure with your prediction? There are still 4 months before 2019 ends.

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If all people sell their bitcoin right now (including the whales) bitcoin price will be worse than before

Looks like we've now bounced right off $10k on GDAX/Coinbase Pro, currently sitting above $10.1K at the moment. Bulls are trying to defend the $10k mark at the moment but that might not even hold with the continuous selling pressure that's been happening over the last few hours. Personally, I'm pretty impressed the price action has remained bearish for as long as it has recently considering RSI's incredibly low on most of the lower timeframes under the daily. Still holding onto my longs that have been filled over the last few hours as I believe a bounce could be happening soon.

Also surprised Bitmex funding is still not negative even with the recent PA, still sitting at 0.01% at the moment.

Burned? lol

It only meant one thing, indicators just ain't not accurate for the technical analysis. Although we are sure the prices will go up, right now there are just marketers in the field trying to make BTC and crypto look good in the eyes of possible investors but price dips this low will just scare them away.  ;D

Ok we are dropping and within the $10,000-$10,200 range. I don't know if there are going to be a big support and obviously if the price continue to go down then 5 digit again could be broken. Good call by the OP and for those who have taken the profit.


I hope so, but which the way the orders are coming in, the possibility of that support holding is not that high.

I just take another profits in bitcoin around $10,200 and I will buy again when it recover close to 50 ma. It is surprising that when many of us think that bitcoin will hold over $10,600 it conveniently broken that level and has even fall below $10,000 on some exchanges platforms today! However it is already showing oversold signal at 4 hours chart and that may cause reversal soonest.