Bitcoin Forum

I hope you would heard the news of crude oil which went down below $0 is a massive shock to everyone, right now the market is very strange not only the crypto other stuffs as well.

The key resistance might be below 6k and I believe it will not go down like that. However it's better to have some patience till halving atleast, let's wait and see how it goes at that time.

The price is still normal and stable till now, The worst price of bitcoin in the past 3 month is $4,612 on 16 march 2020. If the price not hit $5000, we should not panic about it.

You can also sell your bitcoin if you want.

The whole world is going through "uncertainty," so even if we are at strong resistance levels, we are still in the process of a health crisis that has not ended and we cannot determine market trends.
The price range at $ 6,000 appears to be a strong barrier forcing the price to bounce back to $ 7000 levels once it reaches, but the persistence of not breaking $ 7600 might cause the price to bounce back below $ 6,500. So everything is possible

The majority of medium intelligence investors (ones who have been here a long time but also haven't much of a trading background) seem pessamistic this time and even though exchanges have been pushing the idea that the halving is going to happen soon and have been giving reports, I'm not sure if the mainstream media have covered it much... If any of them consider it significant and do cover it then that might attract people to look at it more and invest and cause a nice little rally up before we see a large fall down later on (probably around august if we last that long) - I don't expect us to pass $8-10k realistically but we might see some stability and a comfortable/slow decline thereafter.

Nothing new.

It is always panic mode with bitcoin. It doesn't matter which direction it goes. No matter what it does it creates panic. When it goes down it is panic for the bulls, when it goes up the bears aint happy.

That's how volatility works and bitcoin is super volatile.

After I ve seen  all that shit through the years I wouldn't be surprised if it goes to $2k or $50k next week.

Bitcoin is still in a state where the right direction is not understood. As the world goes through panic, it's hard to predict anything here. We saw yesterday oil historic dump, if it’s also create panic on crypto then bitcoin can dump. Your analysis seemed right to me. But this is Bitcoin and you know how volatile the Bitcoin market is. So I think now we should wait for the next move.

I think we are taking this speculation thing so seriously that we've all been trying to become professional analysts, but the truth is, nobody can predict the exact time as to when may we see a pump or a drop. Yes, I am in favor of a drop because I'd like to earn more through my campaign as well as bring in some investors into crypto. I'm showing them a price tag of $6.8k, nobody's interested, I'll show them a $2.5k BTC and convince them that it'll revert back to its older levels like ATH and all, and make them buy their first ever BTC for under $3k and I'm seeing large possibilities of BTC taking a big dip before consolidating back very hard.

People should really think up this way because this hasnt been a rare thing to happen with bitcoins price.We can either see a strong resistance or weak supports, it depends yet the market had been always unpredictable since from the start.Even we are on a tough situation or in an ordinary day it doesnt really differ that much. Creating a panic again? Im not a TA guy thats why i dont easily react on these kind of sentiments.
Basing on the image in talks of those supports then it isnt impossible to break those on least expected manner.  ;D

For those traders who are confident about things to be changing around bitcoin halving, these small pull backs will not get any panic.
Last week completely bitcoin remained stronger and as expected it closed the week above $7000 levels which must be opening doors for testing next resistance levels around $7900 but suddenly this week started in bearish mood. Only after sustaining above $7200 may restore our faith again.

I guess bitcoin may not keep breaking supports below $6760 levels but may turn bullish from the current levels but all are purely depending on how countries deal with covid19 outbreak. If people start feeling safer against the pandemic then we can have another wonderful April within remaining 9 days.

Attempts to breach $7300 have been made today and apparently all of those were slammed hard. Strong resistance levels remain to be camped @ $6500, though I am not sure as to whether it can hold any further or no as we remain to be in the realm of economic uncertainty on all fronts. There are rumors that billions of dollars in stablecoins would be poured into bitcoin in the nearest future, although again it would be difficult to bank on these 'reports' unless it actually happens. And even if the said amount were to enter the market, I don't think its effects would be substantially felt by everyone knowing how $3B is a small drop in the ocean for bitcoin and other cryptocurrencies.

The 9 days remaining is going to bring us to the halving season. I'm thinking that the bull might come along this season instead of the bear prediction going on lately. Bitcoin has not performed short since the health challenge of the world.

The Golden Cross indicates a very different story that a bottom is nearing soon and may take place "after" the halving and not before, so even if it pumps up, you may be trapped before a lot of fluctuations take place in the markets as bears will open up their shorting guns and shoot hard so to liquidate the longs (who will take place near halving and even post halving thinking that this will only increase in the price).

We all have this kind of uncertainty as to the pandemic still on going and the whole world suffered a huge economic loss. We thought that crypto isn't affected by the current stock market drop but unfortunately, we get into trouble and many people will think negatively about this. This panic will rose back again as the market tends to drop once again. We can't leave this feeling and keep hiding because this is a common instinct of most individuals and they will sell their Bitcoin in order to save from losing.

Nothing to worry about, the price ain't showing any signs of obvious significant drops, instead its bouncing back and forth from above $6,500 to below $7,500 level, which means crypto doesn't want to become very affected by the health crisis.
Although what keeps holding back for Bitcoin to fall below support level is the fact that people are still optimistic about the halving, but It's also very obvious that the crypto space lacks more investors to force an upward trend.

You can stay out of bitcoin already if you want to. Such TAs are helpful to give warning and help you decide what you want to do before the drop happens. But that doesn't mean that it will like that forever, if there's a downtrend, then there's the opposite too.

No need to panic and I won't get out of it. The drop recently is fine and acceptable and we even had the baddest day for this year so far when it went under the radar of $5000.

What is new, by the way?

Bitcoin is known for its volatility and the panic is not being created by Bitcoin but the investors or traders itself not used to the quick movements of the price. I am not really worried about the price changes nowadays as some people sold their BTCs for their needs this ECQ and I know that despite the lowest price it will dump, it will always go back up.

Here is the issue with your charts. The first support was already tested and created a wick and went up from there. So most likely it won't provide support again a 3rd time. And when the first support fails, most likely the remainder 2 won't hold either. This is generally what I found when trading bitcoin from the last couple of years. Whenever there is some obvious support level, it usually never holds. It either comes close to the level, doesn't touch and start to go up from there. Or it just breaks the level completely.

I still think that level where we had the massive crash which was around $8K or so will be a huge supply level. Most likely we will retest this level eventually and we will see how it will react to it. However I think its mostly up to the equity markets. Whether they rally or not. What is going on with the oil markets is not helping the equities and it also isn't helping the crypto markets. And this coronovirus is showing no signs of slowing down or flattening the curve at all.

Still looking good in my eyes.

6.800+ is not a bad number. Even if it goes down to 6,500 it is still not that bad.
It gained a lot from dropping below 5k mark just last month.
Just how much percentage is that.
The thing is, we got so used to large numbers last year. Maybe it's time to swallow the truth.

The current uncertainty of the situation is that we do not know whether people have enough free money to survive the time of the quarantine that is now continuing. If this money is not enough, then people will again be forced to sell their cryptocurrency and prices in the cryptocurrency market will again slowly fall, or at least generally stand still. We really need to observe the market for now, because now the situation is unpredictable.

Bitcoin is a forever trusted cryptocurrency, But some peoples are always panic in cryptocurrency because few countries only legalised and most of the countries still panic in Bitcoin. The recent and current issues was totally affect the Bitcoin and altcoins so some peoples think it's a risky platform. The reality blockchain will rule the furthers years so current growth good to rising in Crypto market.

It may cause another panic if huge bear will gonna enter market again. Those support is possible to break if this situation we are experiencing will continue. Some predictions were saying btc will bottom down again at $3,000 but the btc charts not even showing any signs of that. Well,  not yet. Let's be optimistic, since bitcoin halving is near so we are still gripping and many are still positive about the good results.

The successful traders and the highly rich among us feed on our fears and greed. I have fine out that whenever this type of Posts started to come up it means bullish signal as the market always goes against this type of speculation. There are two reasons why we should not fear for now. Bitcoin remains above 50ma on a daily chart and halving.

Is it panic which will work out or will it be patience?

Consider everything that is playing in the events.
COVID-19, economic drop, etc.
The product of it makes the financial industry also having problems on how to deal with it.
Bitcoin cannot get away from that.
So instead of having a panic breakdown from all the price drop, why not just be patient and wait for everything to recover.

I am not sure about that because the price seems stable for me, but I don't want to see another drop-down of bitcoin price. I hope that people don't have to panic if they see the price is down, but they can prepare their money to buy more bitcoin. The rate now seems to turn around at $6,800-$6,900-$7,000. So there might be a chance for the price to go back to the $7,000 again. Well, we have an unpredicted situation again this time, so you need to be careful to decide.

Well you might be right but for some of us its a less concern now since we're still in the middle of crisis and somehow affecting the movement of the market due to investors who buy and sell during this time.

Bitcoin's value is stable and I think it will remain this way until halving, I guess investors chose to hold rather than selling their btc now since most of us believe after that event the price might surge. Nevertheless anything can happen and we cant certainly predict what's ahead.

posts like this only add panic in this market because you are just adding fire to the situation,Why need same and same thread whenever there are some falling movement?why not post when price are climbing?
obviously you are only wanted to make the price fall.
please let market make its way because look at the price now?recovers fromt hat post of yours in a day?

This downward trend of Bitcoin is due to the coronavirus panic.
It doesn't have to do with the market itself.
Now that Bitcoin halving is close the price will possibly go up again.

I love the chart. It really talks about the reality of being a trader's speculation.
Multiple times we are being rejected on those areas, $6,000 - $8,000 last few days, and now we are back again above $7,000.
Breaking above $8,000 could be a new level of resistance to be made. But being rejected again in those levels, a huge downwards is possible, especially falling below $6,500 again.

Maybe you should change the title.
It sounds so bad even with the explanation of just a little movement of price.

The one who will panic are the weak hands.
It is a good thing if they will start selling now than waiting for later. Maybe others would have a chance to buy at a cheaper price. Strong hands.
That is, if they could shake the market that bad.  ;)

hahaha..most likely that is exactly what it is doing at this moment. At least the last shake out from weak hands before we approach bitcoin halving. I would not be surprised if bitcoin price reduces further this week to say $6.5k before we can finally see a rise from that end. The best option is to hold till halving.

It is literally around the price that we started the year with, I don't know if people are somehow scared and panicking because we once saw 10k+ in the year 2020 and that means we are lower compared to that, but even with that logic we have also seen under 4k just a month ago and we have spent a lot of time under 5k and even under 6k as well, right now it is over 6k and around 7k precisely which means we did moved from 7k to 10k so it is sad that we are at 7k but at the same time how about looking at the fact that we recovered from under 4k as well?

I don't see a reason to panic right now, bitcoin is doing awesome and to me right now it is creating hype around it to increase once again, without the increase I would have agreed but the latest thing bitcoin did was increasing.

I don't have the impression that we are having panic present although some users probably are under strong influence of COVID-19 situation, deep recession that we are heading and bad overal economy and social situation. That and lack of patience as well as real need for money due to job loss or similar might cause urge for selling but I don't think that at the moment this is mass activity.

The dipping decline that occurred yesterday did become another panic when the world situation did not improve, but with patience would at least provide something better because even prices can recover quickly. Indeed, panic is not easy to avoid, but in this market at least with only a few choose to be patient it will change something negative to be more positive for your investment, so be patient and calm because at the same time unstable situations in many sectors continue to occur.

If we breakdown below the support level then we can expect another dump but we should not panic because that's another opportunity for us to get bitcoin cheaper. Few more days before the halving, and maybe people are preparing to have more bitcoin and if they saw a cheaper bitcoin then the price will bounce back because we finally have demand for bitcoin. Bitcoin doesn't create panic, people do and greedy whales do.

well, even after fall of the oil price btc made a little downtrend movement but right now as you can see on the chart it's stable above 7000.
I think the covid-19 already effected the btc market and right now we are waiting for the halving a the pump after that

I don't really know how to read charts, but right now the price is going up and it's quite different from your prediction. are you still panicking right now? I'm not sure that the price of bitcoin will really go down to the price of $ 6k in the long run, and for now, I feel the price of bitcoin will continue to rise to high prices.

If the reason of the market downtrend is covid19 then we won't see the price increase as you wish for halving event. Because now the pandemic still spreading almost to all country, like in my country that at least around 10.000 people have been infected and lockdown has been held. The people are panicking and they sell everything they have to fulfill their need. But now bitcoin and altcoin price are going up again and I think it will continue. So, it was not fully about covid 19, there may be some investor who keep their money and wait a good time to entry.

Unpredictable movements is not new to bitcoin, though charting is relevant and following the market situations can give some guide to work with your next position to decide. The market is rising and it's giving good light to those who are holding and continuing to invest from this industry.
Panics only made you loses better to know and understand every decision that you'll going to take.

Well, different days different results as I am writing this today the price starting to drop a bit again and it looks like it's gonna hit that $6k range again. Bitcoin is truly volatile since no one could predict the right price in the right time but by looking at the movement of the chart you will understand where Bitcoin would go next. That's why reading charts is very helpful if you are a trader, you should learn reading charts because you might need it someday.

And something we look at the market movements by now, we think that it drops but it was in the opposite. But I'm a little bit worried if these people won't make their way to hold until halving and then lose their hands.
It gonna be right, we should have to look for what it is better and understand the situation around. Investing at this point seems to be in less consideration especially when we just rely on what we have today. The pandemic is really crashing in an individual's life, we can't move freely, we can't make money to support, and that is really hard.

The panicked is over where there is a major dumped that happen, right now the price is consolidating and for me it is a good thing because there us a bullish signal. If there will be a major breakout that will happen, expect a rally that will happen but if there will be a breakdown that happen where the major support got broken, maybe we should let go our position and cut it in order to prevent more losses because it is a sign of weakness

$7.4K is a good level for us right now, we do not need to go any higher because that is not really needed, however we cannot afford to go any lower neither, we are literally right at the middle of doing mediocre right now and that is a very very thin level that can't be broken. If we go upwards to above 7.5k I am 100% certain we will also go above 8k as well, I do not see bitcoin staying around 7.7k or whatever, if it goes above 7.5k even a bit, it will also go above 8k which will be an awesome bull run.

If we go under 6.5k, I also do not see it staying around those levels neither, it will probably go under 6k as well. So, right now any movements one way or another 500 bucks will result with over a thousand bucks worth of movement since it was all pumped up and stuck and couldn't move so that move wherever it is will be really big.

Bitcoin chooses a different path, you already know that halving will start, and surely this is Bullish for the crypto market, specifically Bitcoin, but altcoin does not all increase, if you choose SHORT from now you will cry, the target is at $ 8000 before halving starts I am sure it will be achieved, ;)

Panic is normal for those who are so afraid in losing and not counting the chance of making profit.

and we must also consider that without those panicking people then the price will never favor us investors lol.

Not be so sure mate,remember that the Locking down is extending longer than the previous target date.

I agree that we should not be that calm about the incoming halving since we never know what might happen.

Here in our country, lockdowns are gradually lifting though it would still take almost a month before completely lifted. Precautions are still advised but I don't think it would impact the halving that much. I guess we could just see a price not that high after halving. I think we would be able to see a price pump in the upcoming months after this pandemic.

The price of BTC right now is at around $7500.

I'm not bullish on BTC right now but not that bearish too. Either way, lets just expect for what will happen to it. The world and the market in general right now are full of uncertainties. Nobody expected that Crude Oil will go to $0 in an instant. There are many uncertainties already so with Bitcoin, this is not new already and its normal already at its price is driven by price manipulators and sentiments of the investors :).

The situation isn't normal for me, the crisis that we are fighting today has widen its market effect. If we prolong the situation, it possible that more uncertainties will be shown and panic will getting worse. It was surprising how Crude Oil becomes no market value, isn't we think that it happens before and it will happen again these days. And something I have think that this COVID-19 isn't just a virus to kill people but to kill businesses as well and I think also about market competition.

Yes, you are right. At least, bitcoin price now still at $7,500, and although the price it seems hard to increase to $7,600, we still have a chance to see that price soon. If situations are better than now, I think we can see that price in the next weeks, so we need to prepare for that time. Hm, I don't want to expect to see the bears in the next week, but we cannot do anything if the bears still come next weeks. I hope that this time, bitcoin can be stronger than before, so the price can rise more than now.

If there's no pandemic today anyone can do a prediction and 100% it will turn out to be ok, but we are in a different situation now it's hard to make the exact price predictions I just go with the flow, the important thing is the market is ok, we have the halving and there are already cures in the virus although, still in a clinical test, we'll get there, the big question is when.

People always seem to be confused about what bitcoin is capable of, right now we are seeing a prime example of that.
People imagined it would go down, it went up, now they are thinking it will continue to go up and I am sure it may even go down right now.

So long story short do not really underestimate what bitcoin can and will do, it can go up, it can go down, and it can do this at anytime, there is no "it will do this" type of sentence in bitcoin world, there is always "it may do this" and that is why we are not getting super rich at all, if we knew what it is capable of doing before it did it, we would all purchase or sell before but we are not, only a rare handful of people can be right back to back and even they are not always right.

The only people who are considered right are the people who constantly buys bitcoin to put aside for retirement fund, that is the only right way that won't fail.

there is no such thing as 100 percent prediction mate  . prediction means you are only predicting or your not sure so its not 100 percent  while there are rare occasions that a prediction succeed but this is only a co incedent  .

you already said market is fine and yes that is true . btc is now getting stable so that can also result for people to not panic  .  thats a good news too if there are now cures , if that became succesful  then people can recover again and more growth for btc as expected

times of panic may have passed. when COVID-19 exploded, almost all industries went down, even bitcoin, and certainly caused a lot of panics. at the moment, it seems like things are not so freaking out, because evidence from that the price of bitcoin is slowly recovering. I suspect that in the near future, there will be no panic, even I feel that a high rise can occur.

The tragic and unexpected way of drowning business institutions really affecting the minds of the people and truly panicking. It was a surprise drop and not all of us are prepared for this scenario. The way of recovering is still slow and not knowing how long we should get over from this situation. The panicking situation will get worsen when the big businesses will also shutting down as it will affect the crypto market.

It already broke 7500$ and it will continue to increase knowing that the bitcoin halving is very near but I am worried if it can really push the price that hard especially that we are currently facing a pandemic right now. But base on the last few days, the market is very positive which is gaining a green remark until now so we can expect that it will continue until the halving will happen.

But after the halving will be very crucial because if the bull run will not be triggered then there is a big chance that the market will crash again especially if the pandemic will not be resolve.

Well when the OP posted this, it was like six days ago, and that time we have been struggling the breake the next resistance which is $7200. And it seems that the market suddenly went on a run to $7500-$7700 which makes me excites but at the same time, could be a bear trap.

So let's see if this is really a bullish signal prior to the halving next month. A good $8k is not that bad, actually we have doubled the last lows for this year already, which is $3800. So everything is really pointed to a good direction, but I will still remain cautious.

We are now seeing btc prices is started to pull back up now with each passing days. Compared to last week the movement is shifting up and what I think is that many big investors or even country may start investing in this crypto considering that stock markets will continue to bleed in coming time as well. Crypto may their investment which could give them positive returns even in this dropping GDP of the world.

Well, the reason why bitcoin price is going higher is the simple fact that virus is right now but the crisis is not right now at all.

I believe, all those people who didn't have any money left already are in big trouble, however there are plenty of people who are going to run out of money eventually that didn't reach to that point just yet, that means people might be unemployed and staying at home and not going outside, but they might have some stash somewhere aside, which means they are going to end up running dry one day and that will be the real big crisis, until that moment we are going to see people coming into bitcoin and leaving and doing that repeatedly constantly.

But in few months if nothing survives, by September or so we are going to see a big fall, not just on bitcoin but on everything in life.

Panic is always around, this is the crypto market, I mean what we are talking about here? We already experienced, some of us, 90% drops and we are still here, doing the same thing we did before! Give it or take it, in crypto you are always in some kind of dilemma, what to do, which coin to buy, to cut losses, to long it, or simply buy Bitcoins with all money you have! It's always something, is it a buying fever, or panic selling, many of us try to earn on that and we live for those moments to sell on top and buy again on the bottom.

I am not really going to say anything against OP, they can be right about their calculations and analysis normally but there could be something that happens between then and now that changes everything. However this should basically be a proof that TA is never the solution, you can do TA as much as you want and in the end if you are not really doing it carefully enough something totally unexpected could happen that causes you to lose money.

There is no sure fire thing about bitcoin price prediction, nobody can predict it correctly all the time, you can be right sometimes and you can be wrong sometimes and you just live with that. So, just because OP gave an info, we all saw that doesn't mean it will happen, but it also doesn't mean he will be wrong each time.

It is really a surprise that bitcoin is starting to recover it's price today, so i think the people who buys bitcoin in a low price from last month of March when bitcoin's price suddenly goes down were really lucky because their funds is starting to increase today. No one really expect that in the middle of this pandemic bitcoin can still be positive and can continue to have an improvement to it's price.

Those who buy at dip this year have already doubled their investment, Bitcoin rise up to $9400 before it dump now, so they have the opportunity to sell. Buying at dip or when people panic is really a great strategy because bitcoin has been proven an asset that will always recover no matter how strong or hard it's dump.

I think that such indicators could be expected today, since everyone hoped for good indicators of the cryptocurrency market thanks to the next bitcoin halving in May 2020.  It is possible that the time for a bull run has already come, as the price of Bitcoin rises along with market capitalization.

Ain't yet to say it is Bullrun already, that was a pretty short pump and to think big then.
It was good to see pumps before halving but we should be careful about this change because this wasn't a simple change and it possible whale have taken some action to manipulate the price. If this is really true, a trap isn't possible.

Panic will always be in Bitcoin, especially if it alludes to the price issue, people will follow, be it FOMO or REKT,
which surely we must be careful if we want to enter ;)

You can hold your money or you can hold bitcoin. The current market sentiment is really volatile. We never know what will happen next, also for those trader I guess you'll be better to not trade at this momment. Especially for day trader who just use scalping strategy, it will be risk. So I just hold my bitcoin and collect money to buy when the sign for bull run comes (I think the current increase price is not a bull but it was just a FOMO for halving event).

Bitcoin always create panic especially for those users that are holding their coins that wanted to get profit in short term or those that borrowed their money for trading. They are the ones who are looking at the market 24/7 and every slight movement, they will think that they will gonna be screwed. So if you don't want to panic, invest what you can afford to lose, as the famous saying goes, and set an achievable targets.

I guess you haven't seen how the Bitcoin halving works in the past and how the market would move like a string when you pull it. When there's a halving coming it doesn't mean there's a bull run already that's not how the market works. When you see the price moving up beware about it because after it stretches so much there's a huge tendency that it will fall back anytime, the same goes when it's moving downwards it is because to the traders constantly moving everytime.

Thats how market works but some people do believe into the opposite thing on where once theres some news they do believe that price can shoot
up with that time without even trying to look at on the history where things doesnt work that way and people should really consider on analyzing everything
before they do make a move or a position because it will surely cost you money when price do go to the opposite way.Lets see on what would be
the current halving would give.

That is always the mistake of all newbies who doesn't have a single clue how do halving works. That's why it's always required to do their own research if they want to belong in this market without being eaten by the whales in the future. It happens already in the past I hope these new comers or new investors will always seek answer first before dropping their money to anything for an investment.

it's clear, even more so if the price of bitcoin decreases in a short amount of time. however, panic will not occur when the price of bitcoin is not volatile. for now, the price of bitcoin is still quite stable, so I assume that there is currently no panic. if the price rises quickly before halving, I am sure that many people are panicking buying. if you do not want to feel the panic, I suggest holding the coin stable.

The fact is that alarmists always panic.  they panic when the market drops, and also when Bitcoin prices rise, because I don’t know what to expect next.  Nevertheless, the panic from the belief that the coronavirus will adversely affect the entire cryptocurrency has already passed and Bitcoin prices have begun to recover.  Of course, on the eve of halving, we expected this.

I just found out that there is a technical analysis that does not have the accuracy described by the OP, the panic was actually only experienced by novice traders who could not read the direction of the movement of Bitcoin.  So far I have never panicked in trading Bitcoin or other Crypto.

I am also not sure that the TA image on the OP is not his own, but rather taken from someone else's tradingview site, that is why the OP cannot analyze it well.