Bitcoin Forum

Even though price of BTC bumped up yesterday from $7,400 up to 10,400.  Price is still in a downtrend.
 
I am not too optimistic just from one day of big green candles along with some announcement from China.

Heavily manipulated it is, more and more every day. Good bye.

If you've been here on this market then these kind of events arent that shocking.We have seen countless news that
do give out either some fud or fomo and anytime the price might react or not on that certain time.We've seen how this
market move likes waves and  even we do say that its manipulated all the time then just bear with it and utilize those
movements to make some profits.

This manipulation is how people make money. Bitcoin was stable for a while and it did a sudden dive below 7.5K and again rose to 10K. The masterminds of this setup bought cheap and sold high. Now the market would again return to the previous pricing around 8.5K. It's just a pump and dump to fool small investors.

Thats how big investors make money in this kind of unregulated market. If you have sold at panic then probably you are going to hate this, I don’t see this a natural growth. As usual those that were so emotional lose this game.

probably not a pump and dump this time. yesterday i think was the action brought by fomo. price will still dip so its too optimistic to believe it will continue to rise without slight dips. by his name, OP sure knew this since he sure isn't knew it trading. many of the holders will still sell but many will check whether they can buy at a lower price than the peak price yesterday. 8.5 would be a good price already to buy.

I respectfully disagree. (https://bitcointalk.org/index.php?topic=5196072.0) It'll take several more weeks to confirm a weekly/monthly uptrend again, but I'm fairly confident the structural low is in.

Where you been, by the way? You planning to hibernate during this supposed bear winter?

I expect a continuation of the downtrend.

i'm glad there's still plenty of bears and pessimists around. that's how markets look when they begin climbing the wall of worry. (https://www.investopedia.com/terms/w/wallofworry.asp) :)

even if this is a dead cat bounce and we're still stuck in a larger downtrend, the rally took impulsive form, so i expect another impulsive leg up into the $11000s.

Thank you, you saved me from writing the same thing.

I'd like to point out that btc is now at $9200 whereas yesterday it was below $8000 (or the day before).  Apparently I was sleeping when it shot past $10,000 this time but I'll take op's word for it that it happened.

And market manipulation?  I hear that claim every single time bitcoin does something dramatic, but there's never any hard evidence of it presented.  Sometimes the bulls just run rampant, and other times the bears come out of hibernation.  At least when either one of those things happens it's better than if both were asleep.  Good times in bitcoinland right now.  I can't say I'm disappointed with where the price is at, but my main concern is whether it can hold on.

We are literally minutes away from an extremely bullish daily close above the 200MA. If it confirms, then there is no longer any point for people to be bearish.

The only thing I do expect is some sort of a wick down when CME opens to fill up the gap left between their friday close and where the price is when they open up. If that turns out to happen, that will be an exceptional buying opportunity in the runup to the test of $14,000 and perhaps beyond. We'll have to reasses the market structure when we get there.

Choo choo........  :P

Funny how some of you still waiting for Bitcoin to go even lower ? Isn't it low now ? I think it is. Its like after 2014 pump coming from 1200 to 450$ and you still want for it to go to 120$ which never happen. So now you wait for Bitcoin to give another opportunity to go under 7k$ to make your buys ? But what have you done when it was 3k$ ? You waited for it to go to 2k$ am I right ? I think I am.

Appreciate that Bitcoin still gives opportunities for all of us to buy under 10k$ and that is half of the price since the ATH of 2017 December. In my opinion the green candles from last night proved that Bitcoin will slowly rise until the halv occur.

Bitcoin is heavily manipulated.When goes up and when goes down. But in general trend is stable. Not going either up or down much but stay where it is for half year.

Everytime Bitcoin rise above 20% change in just 24hrs or 48hrs, continued downtrend after will be expected. Because some retail investors also are selling their Bitcoin at that range, most specially if they're looking for a short selling. Some bought at $7,500 level and sold it at $9,700-$10,000.

I wont even be surprised if this downtrend continues to $8,000 level.

Yeah, according to the market trend $8000 is possible to reach with a short period of time. And I will not be surprised the downtrend goes to $8000.

Not really surprising. The rise was way too unnatural and the market naturally wouldn't hold that up without any foundation. It seemed kind of heavily manipulated after all and being manipulation as it is, would only result in a temporary uprise and would slowly stabilize until the market could accept it. imo it should stop going down by 8000$ or so. Should be a reasonable margin for the market to accept since the last dump made it go to 7500 and the latest pump made it go to 10k dollars but almost immediately went down after, so yup.

That's why I sold off some of my btc instead of holdimg because there might be another whale selling off to gain the profit, as it looks like there's not much uptrend, they're likely to sell it off again unless they're still hoping for another increase. It's good for a while for those who swam along the whales but I can say more likely today that it's definitely manipulated. We can't get anymore from this and I don't think it's gonna pump up any sooner. But that's the life of BTC, it's all in the prediction, we can't read their minds.

look buddy
try to be positive with what's happening in the market today.
for me this is a sign that there will be further improvements that are greater than yesterday.
so don't expect bitcoin to continue to decline.

Before this 40% pump I was also bearish and expecting maybe $6000 to be hit sometime before the end of the year. However when we have these crazy gains in such short period over positive news like the China news it means that we are quite possibility entering a bull market again.

The fact that price retraced a little is normal. There are people taking profits and it's also a weekend. It will take a few days for wires to get sent into exchanges and buy more BTC.

I am waiting for the weekly and monthly candles to close first to decide what the price action will be for the next few months.

a "downtrend" is a "trend" not a single drop case. what we had was the later and that doesn't make it into a trend. price fell below $10k on September 24 and in less than a day it was at the bottom at $8k range. then that lasted about a month until 4 days ago another last attempt at pushing the price down took place before the manipulation was lifted and price jumped back up to real levels.
that is not a trend, that is a temporary push down.

Whether the OP is positive or negative with the latest price movement of bitcoin that is his own personal prediction or opinion may based on TA however bitcoin price always defies any form of technical analysis prior to the last price pump, speculations was rife that the price will dump to the support at $6K invariably the price prove those speculators wrong and pumped to $10,400 thanks to the positive news that originated fro China.

Yesterday you can see a very changeable movement on the price of bitcoin and after I read some articles about the president of China who will now support blockchain technologies the price starts to increase. We do not know if the price of bitcoin is totally manipulated by someone. As of now the price of bitcoin become stable at the price of 9000$+ and do you think bitcoin will really good down again just like what happened few days ago?

The good thing about OPs thread is that it makes people aware of where the risks are in terms of this being a massive bull trap. I don't think it's a bull trap myself, but one can't discard that possibility either.

People were extremely bearish before the +$2k move up, and now expect moon again before the end of the year. It's something that can be used against them by whales because we're definitely not out of the woods yet.

Come to think sensibly that moving as high of 40% on a matter of 2 days afaik isnt really a healthy one which we can really thought that this might be a manipulation.
Price had corrected once again and it breaks down to those people who bought btc on 5 digit price.We are now tanking on 9k which is still a good price to look at
rather than seeing those low levels a way back a month before.At least we are seeing some progress and it might hit up or break the ceiling while we are approaching
on the next halving event.

Yes, expect the unexpected. A sudden pump could have a sudden dump in just days to come.
Better to stay alert.
So what if they are manipulating it. Then, ride the wave if you already knew what is happening. They could do all they want with the market of bitcoin but us who are already knowledgeable about that idea could make profits out of it.

The recent movements of bitcoin price is indeed a result of massive manipulation for a short term gain by some of whales and yes it's better to give it sometime rather than jumping into it and buying or selling off during these short-lived pump or dump. Last four days we have seen do many experts predicting bull run who were saying bitcoin will hit all time low just when the price dropped to $7500 which show nobody knows what's in store for us.

I would tend to agree that the sudden bump in the price is purely manipulated. I mean how can China news influence the price of today?

I thought everyone is done with China and it seems they are irrelevant this 2019. I think some bad actors took the news spin it out, media buy the news and every one FOMO that's why we've seen the biggest pump yet for this year. After that it goes back to the same trading side way patterns.

I'm not particularly supporting your theory but I'm with you that we are still on a down trend and we haven't broken this bearish cycle yet, why? Not because of anything related with the Chinese or any kind of manipulation but just for the reason of the big green candle you are saying is just a candle still on a lower high which isn't really counted as a bullish candle because this candle is still within the downtrend. If I were a newbie thinking that this is another bullish reversal then think again, the bearish candle is not over yet, not until we get pass 12,000$ this kinds of pumps are not bullish at all.

if the run to $10.5k ended as a massive wick and we were trading in the $7000s or $8000s right now, i would wholeheartedly agree with you.

but that's not what happened. everyone is scared to sell now after that reversal. this is the third green day in a row and the market is pushing straight back towards $10k. this shows that bears are no longer in control.

so everyone who sold for the past month is now trapped. and bears are looking weak sauce. bullish.

Before this recent push upwards with green candles, I had some orders placed that were waiting and waiting and waiting to clear. I moved the price limits down and then poof, all the sudden the green candles came and scooped up my orders. Lost $$ on all of them.

I swear it is like the entire crypto market is rigged and they all wait to watch my trading activity and then the entire market moves against me!!!! 

The life of a trader: when you sell, it pumps, and when you buy, it dumps. :D

That's how it feels anyway. Even great traders only have a 50-70% win rate so it's par for the course. Trading involves taking lots and lots of small losses so don't feel too bad.

Hopefully you're still profiting in the long run? If not, you might want to reassess your style, risk management, etc.

Bitcoin price seems manipulated heavily! Within two days the growth and downtrend of bitcoin again proved that how volatile the crypto industry is! But I think if we get any other big news, BTC price will hit 15K USD, and within March, we can see BTC at 20K USD!

Interesting take and attempt at being a contrarian, theres always more to observe when trying to prove a point that disagrees with the consensus.   We seem very positive at the moment but generally I would have expected more downward momentum for some months also.     Im the biggest bear here possibly but even I'd have to say the downtrend has been passed just recently, the qualifier for that is we close a weekly bar above a downtrend and it has to confirm so maybe these days upcoming matter more.


A good trader takes a thousand paper cuts but decapitates his enemy  :P



Its very common in FIAT market to force a fixed ratio for a price in the market.   Thats the very obvious everyday manipulation everyone here takes part in because almost every nation forces some fake pricing.   BTC aint that

Is it contrarian? I'm not even sure. Sentiment may have finally tipped towards the bulls but I'm still noticing a surprising amount of bears around here.


The weekly candle closes in just 4 hours. Assuming it stays up here, it'll be a major bullish confirmation for me. Not only is it a bullish outside reversal, but it's a very clear example of what John Bollinger (inventor of Bollinger bands) calls a "headfake":

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

The bands are squeezing, so we're obviously coiling for a mid-term breakout. The market attempted to trigger a downside squeeze with that wick below the lower BB, but it was summarily rejected. That's the headfake.

Years of experience has taught me, it's very important to pay attention to where the market doesn't want to go. It clearly doesn't want to go down. And as I said, we're coiling for breakout. So chances are it'll be in the other direction. ;)

You seemed neutral from what just happened. In my case I was a bit shocked though 'cause that was so sudden from that range of time. Although majority are saying that such shocking scenario was just a responsibility of whales, but even though it was a great feeling may be sooner those market spike up would go continuously right. But whatever we are human after all we don't know what would happened on market later on.

It's extreme for sure, but it's Bitcoin at the end of the day. It surprises people when they don't expect it, and that's when they get rekkt hard. It was the third largest 24 hour move in Bitcoin's history, so it's not that it didn't happen before.

People continue to call manipulation, but what's actually happening is bots pulling back their sell orders where a short squeeze then does the rest of the work.... shorters have no choice but to pay any price for their coins in the order book.

It did happen before, but if I remember it correctly, it occur when we are in a bull-run. But this current spike was total unexpected that's why we can spell manipulation from afar.

It could be, as bots can lead to total out of control and because of that, chaos will happen which could explain the sudden spike as high as 30%.

when prices bitcoin going down we must buy more and dont watch to fall for buying cheap this is like correction for price can stable above 10000 usd per btc again we dont have to worry about drop price because market will recover eaisely and at any time
dont sell but buy more . this is my advise

It was unexpected in the sense that it went up so much, but a bounce was pretty much due as prices don't usually plummet south so much without seeing bulls make an attempt to initiate a reversal.

Back in June when we crashed directly after peaking out at almost $14k, we saw a $3k daily candle which people didn't expect to happen either, and people yet again called manipulation despite the fact that it was brutal profit taking.

I heard announcement about china that they are now accepting blockchain technology, that is why it is a great news for bitcoin because as of now the price of bitcoin has a good change, which the price of bitcoin stays to $90,000 and up. I also think we are still in the bearish market because bitcoin doesn't raise it's price up to $10,000 this month of October.

and this is the reason why they kept dumping their BTC for usd because its sure that prices will still go down to $6k or even below that later on.


not just yet. until you haven't seen the price go break few more resistance, its best to just keep your USD because chances is that Xi Jinping's attempt seems not working for all investors. it needs another announcement maybe from Abe of Japan, the Noah Coin was pumped earlier if the nearby countries will also declare blockchain adoption just like Bangladesh it could be the cue.

For sure, i don't see any downtrend since the day you post the thread.
Bitcoin's price just experienced a correction just like any coins after pump and it was a usual thing. And right now bitcoin support price is already on 9k which means it is ready for next pump.
I think the next resistance price will be 10k and it will stay there for a quite long time after it breaks it

Seven months left before the actual halving and it seems that market is still not into it. This sudden price pump is not that really bullish since it just went back to the $10,000 trend before and now, the price starts to have its correction and soon will drop again. Luckily the price stops at $9,300 which is a bit down compared to the last bull on the other day.

Resistance level would be around $11,000 we already touched the $10k mark and the price can easily pump closing near $10k. As of now the price is stable at $9,100 to $9,600. I can also say that there will be another set of market mini bull run breaking the resistance level anytime soon.

Over the past couple of weeks, price has popped up over the resistance levels a couple times, but it is not enough to butter my bread.

Price is still going down.  I think it will dip down to the $5,000 range before we could see any big and consistent price pushes upwards.

Calling for 5k now is a big deal in peoples minds.   Not alot of people would countenance such an idea that we go up at a breakneck rate then fall to that level.   I'd personally say its more likely as it reflects volatility, like a car that over-steers and swings across the road, the grip is lost by the imbalance in both directions.

However right now for the weekend having failed to move downwards much, I guess 10k is more likely.   If we hold 200 day average then its some base for positive movement and weekend has that bias .  9340 area to beat

The mini price pumps in the past several weeks (and months) are not much!!!

What price action would "butter your bread?" Or is this a case where you're married to the idea of $5K and won't let it go? :)

Admittedly, I won't close the book on the bear case yet. We need to confirm this bullish spring off $7,300 by moving into another higher trading range. But once we break the 0.618 of the downtrend and especially the August pivot high at $12,300 I would give up on those bear dreams for good!

You don't want to end up like this guy:

https://i.pinimg.com/236x/6a/e2/61/6ae261438e29a37a647ea93dafea1653.jpg

in bitcoin the story of manipulation is a natural thing in my opinion, you know in 2017 china always makes news about bitcoin,
and makes prices go up and down, and 2019 this is china giving news, surprisingly enough indeed, making bitcoin prices go up,
you know if this Price manipulation I suggest you sell and buy bitcoin with analytical techniques, otherwise you might regret it

manipulation will always in finance market,its not happen on cryptocurrency only.usually this manipulation happen from news in media or even whales speculation itself.there are special community or usually called as mafia rents,they work structurely and even pay media to release new that they want.this condition happen in 2017 and recent pump,as smart trader we have to learn about it too.

I am one of those people who believe that the last pump from $7k to $10k is due the whales who selling big at the previous $9k and $8k , then found $7k as a buy point which this moment along with the china sentiment about the blockchain support from the government at a close date to each other drive to FOMO.

So no wonder if now we are going down again , as the flash pump is over now. More people still looking for a safe haven IMHO.

I'm bullish guy since day one but there's a moment like this where based on my own personal research .. things didn't go onto right direction, I'm holding and continue buying in case there's a drop wave coming and more than happy to see it skyrocketing again but not now at least till at the early 2020.

It is not that large of a fall and yet you are already crying about it.
What really happened? Did you lose in trading?
Looks to me like a of users here had already expected a fall after a big pump that happened until 10k.
That is already a signal for a sell without any regrets. Now it had gone steady in 9k to 9.2k which is good. It is like this is the new bottom.

As move forward expecting large market changes to initiate for the upcoming days, the price fluctuates fairly but not that good. Although that spiked so high previously but it doesn't mean we recovered successfully, because I seen the bearish trend pulled back the rope against btc. So expect that $9k level will play until $10k or higher, or maybe at the last days of 2019.

Well, it is not going down right now I know that. The price is over $9k and that is what we have worked for all together so that bitcoin wouldn't go even further down. Even when everyone was talking about how "bitcoin will go down even more before it goes up again" as in people were not only helping the bear callers but also telling bull people that price may go down a bit before it goes up to convince them to sell, but in the end it went back up right away without a single drop afterwards. Hence, I don't believe in anyone at bitcointalk, no one.

If you ever feel like someone is making sense and what they are saying sounds possible, never believe them, not on bitcointalk, just focus on what you believe and what your thoughts were before you read that and compare them, don't shape your idea by reading stuff here.

Too long to bear it is. I never had expect to Bitcoin to be able to push up again after that sudden pump. It is more like as today as to see is to believe. After all we certainly do not know well, it might went down or it might went up but as what the chart says it is more like a quite stability around 7,000 to 9,000. Will be waiting for pumps perhaps if it could be ever to happen again.

If you are isn't ready to take the risk it's not your forte as the cycle will continue. You need to overcome fear and you need to prepare yourself. There's many possibilities that will happen while you are inside this market, it's best to workout and find the right hints in order to anticipate the placing position and the right timing to sell it once there's a big dumped that happened.

Price is always in some trend. If you believe is in down trend then is in downtrend. That mean over some period of time price will decrease a bit. Then sudden news like was that about china a week ago will disturb this movement. It is nothing wrong with that. I think medium turn we are in bear stable trend. And is going on from June. On long turn we are in bull trend. That is happening from start of this year and will continue for next 2 years. It is impossible to manipulate long trends. It is hard to manipulate medium tun trends. What whales can manipulate are short turn trends. And they do manipulate them.

I think about it as little as possible, but it seems like everyone is afraid to buy now. I can recommend, never worry about the downside, because Bitcoin always has bounced back to a value greater than its greatest high, and I don’t see a reason for that to change, because it has been in that trend since it’s very conception.

Although that trend has been disrupted by media manipulation, and price manipulation by anonymous bank holders, the ongoing greater adoption by the people will eventually drive the price up to the point that no group of holders can stop its momentum. those who hold 5-10 Bitcoin will become multi-millionaires in given a few years. so when the price drops I keep buying and each dollar I buy brings more Bitcoin which is a good thing from my perspective.