Bitcoin Forum

THIS IS A VERY BEAUTIFUL FRACKTAL BY @Stillman_Crypto


https://i.ibb.co/8gtnFYj/EKUF0-SWXUAEFt6a.png

I think everyone should know this fractal, bitcoin is already below and will soon recover quickly above $ 8000.
I found this chart on https://www.newsbtc.com/2019/11/27/eerie-bitcoin-fractal-suggests-bottom-6600-surge-8000/

Personally based on my own analisys, i am still not sure bitcoin will reach $8k in near future. On daily chart, based on candlestick and price action analisys there is no sign for price reversal yet at this moment. And if rise , maybe it caused some day trader buy bitcoin for short trading. We will see it will hit $8k or maybe hit bottom on around $5k7.

This is not necessarily true. I know this fracktal is quite nice but talking about the power of cows is not strong enough because it is drawn on short time frame. This is not a big time frame, strong fluctuations need to be represented on time frames like H4 or Daily. Since then it has promoted its maximum strength. so I'm still quite skeptical about this.

Could and could not happen. Can't really state something to happen since literally ANYTHING could happen. Based on what I think or what I've observed, a comeback is possible, but the bulls need something, a certain something to push the momentum they currently have. A reversal can currently take place, but if the bulls fail to take it, then bears would obtain the advantage once more.

If you try to look at the graph of the bitcoin, it is not pleasing on our eyes because the price is slowing down, and we cannot do anything wait again for another month or year for waiting at the price goes up and profitable. There is a chance that the bitcoin price may go down over 8 thousand dollars for the coming year. Still, we are hoping that we will have an excellent new year for the excellent amount of the coin.

It has to go that high before going down again. But its really it has to go up eventually, the market is so ripe, the delays is getting people so impatient already lol

I wouldn't sell this time when it hits its peak in the daily chart, its yet not over sold in the daily chart but so its still rising but scalpers will sell when they see in the 1hour chart are already good to take profit.

bitcoin can easely recover level 9000 usd . if prices rise above level 7500 usd people will start buying again their bitcoin that already sold it before some days . traders should creat another hope because of end year that prices can rise a lot

I'm not a big fan of fractals as a whole because market conditions tend to differ between when the first instance of the fractal plays out that you're comparing to the present, but I do like that the Twitter user who tweeted this pattern out (link to tweet) (https://twitter.com/Stillman_Crypto/status/1199371277884121089) points out the differences in structure between these two events based on this current pattern being a bull market correction and the earlier instance being one in a bear market, though this one seems to have played out with an additional long wick downwards to form what seems like an iHS on timeframes like the 1H before heading back up. This seems to be losing a bit of steam and we could have a swing high on the hourly at the moment, but it seems like this fractal did play out.

Yeah, I agree. It is a mere speculation and prediction only. No one can truly give the precise value and when will it happen. Crypto surprises us the movement. Up and down movement, not even 24 hours. But for now, let's enjoy the moment that it is going up.  ;)

$7800-$8200 is a range I will happily take on an extra short. I do not think that the price has any chance of closing a weekly candle above the $8000 level.

The only positive part about the current move is that there is some volume being generated, but volume being generated is not a reliable indicator on its own. The badass $3000 move we had was accompanied by very impressive volumes globally, but to no avail. Thus far all we have done is confirm a longer term down trend with lower highs.

The 21EMA on the daily that's sloping down will guide the price further lower. In other words, this is a sucker's increase.

I notice the similarity in price of bitcoin at the moment and at the end of November 2018. I think bitcoin will recover to 79xx and fall deeper than the previous bottom of 65xx. Does anyone have the same opinion as me?

Do we even have to go through very complicated analysis, lines, and shapes before knowing that Bitcoin will go to $8,000 soon? What I mean to say is that $8,000 is just a few hundreds away from now. We could easily reach that any day or even any hour from now. I believe the short term bottom was already reached when Bitcoin fell to $6,000+ days ago. After that, the lines are pretty much going the opposite way.

I believe bitcoin will soon reach $ 8,000. That's my current analysis with today's surge to $ 7500. It will be easy to go up again, because I think bearish has been missed in the past few days so now it will grow even better.
But I don't mind much speculation that is further than but I'm positive with my thinking.

The cost of Bitcoin today was $7655. Given the fact that a few days ago the price of digital gold was only 6500 dollars, then I venture to assume that it will not be difficult to reach $8000 for this asset. Every day we see changes in the price of digital gold not less than 400 dollars. This very volatile time of Bitcoin price is liked by many experienced traders.

I believe this not a good time to say that, bitcoin will go down at lest 6K, depend my analyze of course. I use MACD with weekly - monthly setting and will recovery again in middle of 2020, maybe my analyze not accurate but this is my best and I should support it. End of the year will create big exchange from bitcoin into currency and until now no good news about bitcoin. So. think twice before enter the market and see you next year.

Give us a better time frame. A day, a week, a month? "Soon" can mean anything.
With a clearer time frame we'll know, when that period has passed, how good this prediction was.
Until then I can hope you're right, but I'll still stay cautious.

Immediately going towards $ 8000 in the next few days, bitcoin has recovered since yesterday it will not be bearish or a decline that will go down to $ 6000 instead this will increase even more I see the market movement is pretty good today, any news I will believe if true bitcoin will goes up.

The market will recover and it is recovering as i write but i am not expecting the market to go down further than this, we have a good support at $6400 and until and unless there is a huge sell off during those time then we might not see another drop, it all depends on short term traders about how low they wanted to sell the coins.

This is not a good way to make any statement about the price of Bitcoin, we all know what's going on in this cryptocurrency system, Based on the recent time's market, I don't have any expectation about the price, I had a belief that Bitcoin price would get high because of passing 10th years anniversary of the Bitcoin, not only that but also I thought that every November and December are a good time for raising the price but still I don't see any signal regarding this issue, so it's getting difficult to say Bitcoin price will rise again and it will go above 8k.

Looking forward for that to happen.
It needs to bounce back for all this FUD to stop.

They are using it to manipulate the market and spreading all over the social media.
There is always a larger chance for a pump after a certain fall.
I am vouching also that it will happen soon before this week ends.

This is great and I'm also hoping the price of bitcoin will soon return to $ 8k and by 2020 it will be $ 20k. Not only are the RSI, Stoch, and bullish models supporting Bitcoin, but there are also many good insights from people with experience working in the financial world for a long time. This is an opportunity for us to buy bitcoin and hold from now on.

Judging by the chat the Confirmation for Inverted Head & Shoulders Has Been Done and itit is likely that BTC will be moving towards the $8200 - 8300 Levels given to the fact that the Daily Candle Opened Above $7300 That' is an Indication that there will be Somewhat Bullish Sentiment arround the $8000 region. It is highly expected that in the next Few Days BTC Should Move Up gradually till it finds a strong support since enough volume are being generated at the moment.

https://i.ibb.co/vd0tcdz/Screenshot-1.png

yeah right i think bitcoin is already at the bottom
see MA 21 cutting MA 34 is usually a sign of a bull if we get through the 7800 risistance the possibility of the price immediately to 8000. I worry if it falls from support 7324 with a large volume we will return 6800

Its really hard to predict the price movement of bitcoin it can be down or pump any moment but I like this fractal maybe it can be repeat and hit the $8k level. In this kind of situation you need tobe careful because we all know that bitcoin is full of suprises.
Based on my technical analysis Bitcoin can be down a little bit before the price pump up again.

I hope that will happen soon, I bought some bitcoins when it dropped to $ 7000 if Bitcoin could reach $ 8000 I would make a small profit.
But now it's too early to talk about that, I think Bitcoin will experience a slight price drop before reaching $ 8000.

Its still not the time to move above 8k mark. We need more stability and volume here to cross above that resistance. Once it crosses 8600$ level, hopefully we may see a new bull run. As per my analysis, its still bullish, just holding the levels barely.

Everyone buy and hold for next bull run, because I am also invest the 6.7k USD on previous dump and right know it will raise slowly so we expect more hype on further weeks. Nowadays peoples are concentrate crypto trading so surely it will cross the 8k USD on before end of this month or it will cross the 8k USD on next month.

I spent more than half of my assets investing when Bitcoin reached $6800 and now the coin is showing signs of a very positive recovery so next month could be a very important time for this market. I think Bitcoin will soon return to $8000 soon and this is the price to be reached by the end of this year before another price increase.

However, it is only my personal prediction and the market will be very volatile so keep your assets safe and allocate funds accordingly to the current market situation.

https://i.imgur.com/yZHdrZi.png
There is a resistance ranging at 7300-8000 where there is a possible bounce that may occur. 8000 can be also called as psychological resistance. It called a resistance because it is where the price resists meaning there are a lot of seller in that area. I will add position if there will be a breakout that will occur where the resistance became a support.

So far it looks like it cannot brake the 7600 resistance even if he tried twice so we might go down after all to reach that buy support near 5.8k$ and this is not good at all. I would personally like to see Bitcoin settle at this price until the end of the year instead of going down to that area but so far every prediction went wrong so why not thinking we go either to 10k+ or down under 5k. What is gonna be bad for altcoins users is Bitcoin going down ...as all the altcoins are in a blood bath without having any fair chances to respond.

Yes, Bitcoin will go to $8000 and probably even a lot higher in next two weeks BUT only IF it breaks DOUBLE resistance around 7670 first. Why double? Look at my chart bellow (only have access to mobile phone so it's a bit shity).

https://i.imgur.com/m1FF4aF.jpg

Yes the recent dump was a buyback period wherein already some of the experts has filled their coffers with bitcoin but we cannot be sure if we have to hold on till bull run which can either happen or not. I would say we need to be more trading oriented and play along the whales by selling or converting at the beginning of dump in order to buy back more when the market again starts to recover.  I am not suggesting panic selling but rather smart trading.

I am hoping for a recovery next month even though the chart looks drowning for a month. I still believe that there is something that will hold the line below $6k to be more stable at $7k to $8k this coming december or even more. As of now, bitcoin is slowly recovering from the dump last week, hoping to continue next month.

8k won't be too hard to reach now.

9k a bit more difficult, not before next year.

2019 ends most likely in the 7k-8k range.

Plenty of profit still to be made in a quick pan next month as I suspect there will be another drop towards 6.5k. But yeah 8k pretty much guaranteed  :-*

At the moment the price of bitcoin has reached around $ 7,785 and I am optimistic that bitcoin will rise gradually even though it is a bit late in its increase.
bitcoin decline is an opportunity to buy it and hold it, and I'm sure 2020 bitcoin will provide a good price according to everyone's predictions about bitcoin increase in 2020.

Saying that resistance is somewhere between 7300 and 8000 is like saying that Bitcoin can go to a low somewhere between 5000 and 6000. It doesn't mean anything.

As for OP's fractal it's actually starting to play out. We painted a nice inverse head and shoulders pattern followed by a textbook breakout.
https://cdn.dailypriceaction.com/wp-content/uploads/2015/03/Forex-inverse-head-and-shoulders-pattern.jpg
Now we are in a nice correctional move up, still within the short term downtrend, that is sitting in a long term uptrend.
If we break above 8100 it's back to another rally and a short term uptrend, maybe even to 10k. If we bounce off 8k down, the short term downtrend is still in play and we could tighten the band, revisiting the neckline of H&S at 7k. It's still very simple.

I'm not so sure that Bitcoin will reach 8000$. Don't forget that the pump doesn't necessary need to last, it could be only question of a moment. Although I think that the price might reach 8000$ or 9000$ by the end of the year that doesn't necessary need to happen now.

I'd except high $8k, we re not there which makes me worried. So further lows could be a possibility from now. Expected some wild firework. :/

Maybe such a pattern of growth could happen, but with the growth we're experiencing at present there is more chances for $8000 by tomorrow as the price has now crossed $7550. Beyond this if there is no growth can expect the price to fluctuate between $7500 and $7800. By the time if price reach $8000 there is chance for a fall by the first working day day of the week.

It's just a bounce, one of the many we had before. There is no point in believing that we're due for a recovery as long as we haven't seen the market break above at least the $10,350 wick, because every increase that tops out below that wick is technically just another lower high.

I have taken on another short just above the $7700 level today even though I do believe that there is some 5-10% more upside potential. In case we do end up going up I can sit it out easily at 2x leverage without having to worry about liquidation. Surfing the trend down is better than fighting against it unnecessarily.

It can go to 8000. I saw a number of youtube traders talking about it. 8000 is the top of the downtrend channel and breaking it would mean a bullish reversal is coming. The bottom is around 5000 so if we don't break it we will probably go to make lower lows and continue our way down.

Since everybody is talking about it you can expect a lot of shorts to form before we touch 8 thousand that can make us reverse earlier. Maybe 7900 that we touched will be that level?

$8000 is a psychological resistance, if the price goes up to $8000 then there is a role reversal that will happen and for me it is a good sign. If the price consolidate with $8000 then I can say that theyre is willing buyers in that area and I will also buy if that happen. The risks and reward ratio is also good if my bias will happen.

I'm pretty sure bitcoin will soon reach $ 8000 because since yesterday it started to increase again and now the price has reached $ 7800. maybe tomorrow or the day after tomorrow the price of bitcoin has reached $ 8,000. if this good situation continues at the end of this year bitcoin can reach $ 10,000. bitcoin is very volatile if we can utilize bitcoin volatility well we will get a big profit.

I wouldn't be surprised if we see bitcoin touching $8k. I thought that the resistance in the $7600-$7800 will be that great that it's going to be a psychological barrier. But look at the current price, some exchanges reported the price to be above $7800 so it's going to be interesting what's going to happened in the next 24 hours.

I do hope that this is not another bull run otherwise we will plunge to another lows in the coming days. So let's continue to observe if we are going to have another break out run to $8k.

I don't think there is any time for the train to run slowly, it won't even touch the bottom wall, I just reminded that we are at the end of the year entering December, there is no time but to go bloody and reach ATH gradually, no matter what people say about prices below, let's see that everything will recover, if prices continue to be maintained until next Monday, it will continue to rise in the next few weeks

The willingness to buy from retail investors are always there, as the price slowly recovering from a $2,000+ price plummet. The sudden fall of Bitcoin maybe played by market manipulators so they could buy at a lower price as well.
Now, as we are getting closer to the Bitcoin halving, I dont think Bitcoin will drop below $7,000 level again. Specially now that we are about to enter the last month of the year.

Uncertain about this specially we are yet to start the last month of the year. Because usually price starts to change at the end or in the middle of December. I am not saying it is not possible but the thing is, it become norm to the point that it happens every year. Though still hoping for market's fast recovery. Pushing upwards ain't that tough since halving is near to come.

but it's real I think bitcoin will recover to 8000, currently, at 7700, it should be easy to push up, maybe that happens in the early weeks of next month.
halving is not just hype, but history proves it can make prices move higher.

bitcoin price now looks good , slowly bitcoin price increase and now reach on around $7700 . if there is no more fud , this movement could maintain and back to above $10k again. From previous history , halving proves  make bitcoin price higher . mining reward really influence bitcoin price in market. Its make supply in market decrease alot ,meanwhile demand growth massively.

I think the bottom could be in.  Since we are approaching the halving in a few months, I expect Bitcoin’s price to start to increase soon an double by the halving.

in general, from the current price, bitcoin is short of $ 500 before returning to the level of $ 8000 and I think it's just waiting for the moment until the price of the bitcoin pump goes to that level. but it seems at the beginning of this December, the price of bitcoin will only be stable at the price of $ 7600 - $ 7800. I believe that after December 5, we can see whether the price of bitcoin will go up, or down. that is my predict before the chart starts surging again.

from now less than $700 to reach $8,000, I think that's very likely to be achieved this month. and I am confident in my prediction, last February I made a technical analysis.
I was motivated to make a long-term technical analysis, previously in 2018 ago I also made a thread HERE (https://bitcointalk.org/index.php?topic=2857339.0)

Try to see the picture below.
https://i.imgur.com/2zfCJD9.jpg

All credits to you for your January 2018 prediction of long lasting bear market. But what is your February 2019 prediction based on? You predicted change of trend and $8000 in December 2019 which is quite accurate but you didn't expected 13,000+ on the way. So do you have a new long term prediction based on newer data? Would love to see it.

We almost did touch $8k, as far as I know the price seems to hover to $7800 in the last 48 hours or so, unfortunately, it went back down to $7300 again. I guess $8k is a big wall and psychological barrier for now at we can't get this hump over. But I'm still positive that we can breach this price in December and hope that we can at least break into the 5 digit before the year closes.

In my 2018 statement I said, I saw patterns and history in the year before it. so for the 2019 analysis this is the same as I see patterns and history and some indicators as tools I predict. and maybe if my analysis in 2019 is correct in the range of $ 8000 this month. I will make another long-term analysis next year.

and you ask why not 13,000$? because in my opinion it's not possible, after I saw the TA there are no indicators that allow for the price of 13,000$.

everything is possible in the bicoin market. at the moment the price of a $ 7400 bitcoin is actually just waiting for $ 600 we can reach $ 8,000. but if the bitcoin market like this goes up and down it will be quite difficult to be able to reach $ 8,000.
a few days ago the price of bitcoin has reached $ 7800 then dropped again to $ 7200. the bitcoin market is very volatile.

The market was remain unpredictable, so the bottom line is the graph is not precise what is telling it to us. In fact, the price of bitcoin so far as you can see was still below at 8k$ which is 7500$ something, were instead of selling better to buy then hold until it bounce the price again in the market.

I am positive about the most part you said but this time I see a new pattern in the market, every time the price does up it is followed by a serious bearish decline. I know it's common but this time around the bearish decline is quite heavy, earlier when price goes up it was followed up by a small bearish fall just to make things stable and average because its law of averages that something cannot just go higher and higher.

This time it's some serious market pattern and I suggest every holder to keep an eye on it, with fingers crossed like I does. Still, positive about the price but just keep an eye on what's happening because it's creating new trends and market charts this time around.

If the fractal posted by NebraskanGooner on Twitter keeps being accurate, it means BTC will go below 7k again very soon, and again it will test the 6.4k resistance.
And if we still trust this fractal, there should be an immediate bounce back from 6.4k to 8k area (even if it looks unlikely at the current time).

Quote me in about 1 week  :)

That's the only thing we can expect as volatile market keeps moving up and down. We can't say whatever directions this flow will bring our investment
but keep hoping for the best and be ready at the worst. There's always good possibilities that it will go up before it will dump down again. Good assessment and a patience to keep yourself surviving inside the market.

I don't think so. the price is determined by the available supply. today there are over 18 Million bitcoins available. those coins are setting the market price. Next halving will be about 330,000 coins in a year as reward. so what miners will mine in a whole year at today's prices or volumes will be traded in couple of hours. So the idea of a halving which should have influence on the price will be much more a human brain factor than a real market demand and supply factor.

I was anticipating the same as you, the price increase by the start of December and then some steep hike until January after which it gradually goes down to an average higher value.

Talking about the fractal I believe while its indicative that the price should recover quickly but I think it's not necessary that it will be touching the heights as expected by the fractal. I am quite sure by the end of this month we will see a good price on the market, but since everyone is anticipating this hence it might not go as high as it usually does. Just my own speculation.

Udpdate fractal by pamsugas

I just discovered this fractal
bitcoin 1D at end of 2018 VS 4H at end of 2019
this is very similar if we follow this fractal bitcoin is likely to fall to 6800 then it can return up to above 8000.

https://i.ibb.co/X4Mkzmc/Screenshot-2.png
https://i.ibb.co/g7mRXF9/Screenshot-3.png

I don't know man, still too short a time frame and just based on one dataset. Like I keep telling people, you search hard enough for a pattern and you'll find it. The 6800 line anyway though is well recognised at this stage. I thought we would already be testing beyond that even 2 weeks ago but the price movements these 2 weeks have been really strange. And look at how tight. Think even yesterday or the day before we were seeing $100 in the range. Take away the spikes and it was more like in a $50 range.

Trading on weekend's so far insipid too.

How soon is soon?  The OP's post above was written a couple of weeks ago, and it looks like we might be headed toward sub-$7000 levels very, very soon.  Bitcoin is at $7053 as I'm writing this.

This is a good example of why I don't look at charts and why I rarely make serious predictions about bitcoin or anything else.  Those patterns you see sometimes don't tell you the truth of what's really going to happen.  And I even figured bitcoin would be going above $8k soon, too, even without seeing the snippet of a chart that OP included.  Oh well, that's bitcoin for ya.

The fractal didn't play out but there's so many things in play lake seasons, news and such that you can't rely on a single indicator. We're in a good buy zone if you believe this index https://alternative.me/crypto/fear-and-greed-index/#fng-history It's been constant fear since August. This was the last fairly greedy month on the charts.
Historically when it hit 20s it always was a good buying opportunity.

Longs were very high in the last few days so we could be witnessing a long squeeze right now. If it's so we shouldn't panic but rather buy.

i don't believe with prediction by chart or fractal etc, its just opinion will really happen or nothing happen. i just see condition present on market. now bitcoin price going to down? make so far to above $8000.. look the market now its difficult to bitcoin reach more $8000

Well, Bitcoin has been ranging between 7k for almost a month now. I will not be surprised to any move towards 9k before the end of the year.

yes you're right therefore I always say we have to prepare a strong mentality before investing in bitcoin. we must always be ready when the value of bitcoin goes up or down. and now the value of bitcoin is declining $ 7100 we hope the value of bitcoin can go up to $ 8000 but in reality the value of bitcoin has actually decreased. in my opinion until the end of this year the value of bitcoin will probably fall to $ 6500. This is a great opportunity to increase our bitcoin and then hold it until pumping bitcoin in 2020.

currently, the price of Bitcoin is still at 7000 USD, and we can see that there are no signs of an increase yet. difficult to reach 8000k in the near future I guess, considering the volume is also reduced. no one knows what will happen at the end of 2019. more and more speculation arises which makes public opinion even more difficult to trust it.

Our target for bitcoin has dropped from 20,000$ to 8000$. Since 8000$ can give some relief to the stressed crypto community. But it didn't look like bitcoin may recover back to 8000$. Every time I saw Bitcoin, I saw him in red. Its already fallen to 7100$ and still going down.

bitcoin is still stuck in support, $ 7100 hopefully in the next few days it can return to $ 8000. calm down there is still a chance for that,
so don't worry you can monitor it, if bitcoin drops below $ 7000 you can sell it

I have a different analysis, in my opinion the price of bitcoin will remain stable in the $ 7k price range until the new year. if after the new year the price of bitcoin shows a positive trend the price of bitcoin will reach $ 10k quickly, but conversely if the trend goes down the price of bitcoin can return to $ 5k.

That's fractal analysis in a nutshell. It's classic curve-fitting.


I've never seen anything like it. Longs on Bitfinex are skyrocketing, continuing to make new ATHs daily. Shorts finally spiked up 50% today too but longs are in a different universe. The ratio has never been this out of balance.

If the November low is breached, I have to think a long squeeze will trigger.

yes i agree with you i also have the same prediction. Right now we are in mid-December and the value of bitcoin is actually continuing to decline. I think it will be difficult for bitcoin to reach $ 8000 by the end of this year. and in my opinion the value of bitcoin will remain at $ 7,000 or maybe drop to $ 6500 by the end of this year. and after this dump bitcoin began to enter the bear market. these two years we are on the bear market, hopefully next year is a good year for bitcoin and cryptocurrency.

I hope people can stand back and realize how good January and February were.

This topic is a proof of that. 8k was achieved relatively easily. From 8k we reached 9k easily too (I personally sold at 9k and missed the 10k area but who cares? A profit is still a profit).
http://forum.sospronostics.com/icones/smilies/bugs.gif
With what's happening today with Bitcoin going below 6.4k, I wouldn't take any quick decision. It's quite simple to make money with Bitcoin swing trading but I prefer to avoid these periods of quick price action. Too much emotion in the market right now.