Bitcoin Forum

We have been seeing some conflicting analysis that bitcoin was in a downward trend, some TA guys in aWhats-app group I co-admin have been very optimistic that bitcoin was going to correct to about $4k zone, one of the analyst sent me a private message that I should start accumulating bitcoin at $5,500 zone, he is a Physics and further mathematics teacher whom my wife I have been helping resolve some mathematical equations when he gets conflicting solution via online post because I have never meant him person.  Just as bitcoin hits $8,800 yesterday he was confident of his reversal then I reply his post with "is that you my friend the further mathematics  teacher? he refused to post further TA uptil now. I called him in a comic way to let him know this was bitcoin and not a set of defined equation that is parameters ca be determined through known values with the principles of acceptable rules, the group members in a joyous mode posted some meme that they didn't fall for their bearish TA.

3 weeks ago, when bitcoin was at the $6k+ zone, I mentored my former course mate who works in a brewery company from how to set up a bitcoin account and a multi-chain accounts to how to set up his cex account and fund his account and buy and sell whatever he wishes. He asked if this was the right time to buy bitcoin, I told him how long I have been here and how volatile bitcoin can be and the upcoming bitcoin halving and the possible implication, he said bitcoin was too expensive, I left him to study for himself. He is been following discussion and he choose not to take a chance, this morning he wants to buy bitcoin because he read post we are heading to $10k soon. I didn't reply him and have o intention of engaging him because I mentored him and brought him to the group but chooses to listen to bear analyst than longing for the future of bitcoin. Sadly enough those bearish guys don't trade with their TA, they are anarchist.  I sincerely condole with all who thought bitcoin was headed to $3k zone, they now have to buy at a higher rate.

your mistake is thinking they are doing "technical analysis". where in fact they are just idiots drawing line on pictures that may as well be the drawings of a 6 year old. i am surprised you even waste your time having such a group since these groups are always misleading everyone and end up causing big losses for anybody who listens to their bad advice.
by the way it does not matter whether they were right or wrong, when what they say makes zero sense.

I have never listen to them and will never, people that never trade with their graph, I sometimes suggest coins to buy and hold for the long term to the group, same people will flood my PM with advise on how long they are to hold.

It's actually a general blockchain discussion, where old and new users are updated with invents in the market and technical assistance are offered to any confused persons and another small group of online meet up. So some persons are bound to make speculations and we will always issue a disclaimer that they are not expert but speculators who shouldn't be taken serious.

I remember one time when I joined a pump and group thinking that it could help me get into some profit only to realized it was the best way to get doomed. There are so many groups like this...and it is amazing that many people are listening to what these people have to say. Successful traders are usually not that expressive when it comes to their secrets...

Anyway, Bitcoin right now is exploding and whether this can be due to the coming "halving" that is for many to speculate and discuss. I am just a small BTC holder, and I am happy with the way things are...

I have seen a lot of people relied on TA and ended up making wrong decisions. Because you have to understand that TA was created a based on a real world market like equities which is strictly regulated by the respective governments and regulatory authorities. It's not really a free market like crypto where we see worldwide participants. So it's really hard to predict a global mindset through TA. I have said it in many accessions.

With the upcoming halving, the bitcoin price has to increase. Otherwise majority of the small miners will have to close out their mining operations because it will cheaper for them to buy bitcoins from the market than to mine it. That is obviously not an ideal scenario and that may kill the spirit and willingness of the small miners who are very very price sensitive. If you really want to thrive in crypto market, get out of TA mindset and get your own intuition in place.

I clearly remember almost all of the news outlets were rooting for a $4K price for bitcoin, the CEO of bitmex even twitted he aspect bitcoin to go even lower than $4K. And where are these analyst now? It's better to keep silence and accept the volatile nature of crypto than to make baseless assumptions and hinder your own reputation.

Technical analysis doesn't mean art some line on the chart and write whatever they want. There is lots of such as group or channel, sometimes (very rarely) their predictions become true. But I hadn't believed such as chart nor I had tried to read it ever. But if there is some reasonable news then I likely I believe if there is enough proof for that. Because most of FOMO happen after some potential news.  I don't want to believe unrealistic predictions like bitcoin will go $50K soon etc etc. I am not saying bear trend already over, but be realistic. This current pump happened due to halving news. Let's see where this will reach.

it could be good IF it were ONLY technical discussion and support and also IF the group had some technically knowledgeable members who could actually give correct advice. BUT if the group talks about price at all then the quality deteriorates quickly and it ends up becoming more like a low quality scam pump and dump group where people only lose money.

I follow Peter Brandt on social media, with his wealth of experience had always advice on being reluctant taking decision on cryptocurrency base on technical analysis alone. Most of my mentors are careful on speculations with technical analysis and rarely mention those terms. They observe the market space cycle, greediness in purchase and fend for inside information. They can pay anything for the inside information which is available to very few people

I don't know who to believe but thank god I've always just took everything with a grain of salt. Tone Vays says he took profit at 9k and is waiting to buy the dip, so a lot of people are also following him and liquidating at 9k, hence the various exchange crashes and the price freeze for a while.

So your guy also says 4k correction and 5,5k accumulation.

But what now? BTC is at 9.3k are you guys all wrong?

Do not ever believe on what TA said because they are not working on cryptoworld, most of them are under the government or in real life system so they cannot tell what will happen on the price of every cryptocurrency. From the very loe of $3900 this year it goes up to $9000 thst was so big and i think it will still continue going up because of bitcoin halving happen right now. Let us see how this halving can reach. I hope that most of you guys are doing well with some of your stuffs because it is really great time to earn more bitcoin.

The good thing I have learned is that do not let yourself lose everything because of believing someone story or what they tell because one of my friend on facebook recommend the website for good investment and I deposited 0.001 but nothing happens. So do not also believe on what does that TA says, they are not into cryptocurrency.

I guess it just proved that crypto market is really hard to predict if we just rely on technical analysis. We forget that there is still one element that we need to consider, the sentiments of the investors. If those people doesn't like what they are seeing, without looking at the charts, then obviously then won't invest, simply as that. But if the sentiments goes and they became optimistic, then for sure  money will simply pour on the market, push the price to whatever. Like prior to halving, I think the target is 5 digits, $10k. Also, bitcoin is a speculative asset, that's why it is hard to time the market based on TA of the past.

I can see that the market is very bullish right now, but I hope it is not just a hype due to the upcoming halving, for now, I'll be watching but I don't want to trust hard on what is happening, after the halving if the price still goes on the same trend, then I would conclude that we are in a bull run.

Long live the bulls for now, hopefully.

For the cryptocurrency market to be decentralized means that nobody has the monopoly of forecasting the price of the market. Many predicted before now and where disappointed in due course, I could remember some few weeks ago that the price of Bitcoin will go down but this current rise in price of Bitcoin has shown that bitcoin tend to go any way it chooses. These bear guys have keep quiet because the rise of Bitcoin is a shocking one to them this time.

I don't think that they are out off the streets, but obviously, they have been defeated by the bulls since the price has kept on increasing in about a week now and in the last 48 hours was just like a breeze as we have broken $9k already and maybe heading to $10k if this FOMO will continue.

So let's see if the bulls can keep this momentum going into the halving, of course we are very happy to finally see the price getting back prior to the Covid-19 pandemic. So the whole narrative about bitcoin as safe haven, or argument against it, might pop up once we hit that $10k again.

I don't recall anyone last week predicting this move. Now it's here no doubt they'll pile in and tell us exactly what's going to happen next with the greatest of confidence and everyone who does not agree is a peon and they knew all along this would happen but decided not to tell anyone.

They're all full of shit. None of them are worth listening to and they're all wasting their time and your time. You'd be better off asking your lucky octopus.

i think the bears have been out for a couple of weeks now. essentially ever since price recovery began from the very low price that was reached a while back there were no bears to be seen anywhere only their screams of pain since they have been losing money ever since.
this recent jump was only the last nail in their coffin!

in any case i have to add that it is a very common thing that whenever there is a price drop and then a  recovery we see a lot of people who "wish" for more drop in form of "prediction".

Everyone should have known by now that most Whatsapp and Telegram groups discussing TA and other things related to bitcoin price actions are mostly there to influence other people to do the opposite of what they're doing in order to make some profits. I have seen tons of newbies being fooled into believing that the group they have joined is legitimate and they are going to make tons of money, only to get dumped hard by the same people who invited them and just count it as a 'loss' of the group.

They don't practice what they preach. They make money off of what they tell to other people mostly, and the bears are usually telling the world that X is going to be priceless in Y amount of time only to buy those same bags whom the panicked people dumped off earlier.

But I was never thinking bitcoin would drop with those charts drawn by users here. They speculate a lot and forgetting this is halving year. Now halving has come and corona is going away, bitcoin has all it takes to go up higher in nearest time.

Maybe some of them are perma bear to begin with. And most of the time they used TA to proved their point to fit their bearish narrative. And then their followers in their Telegram or Whatsup group obviously follow their advises and up to know are waiting for the price to reach $4k. Unfortunately, the bulls take control of the market, I think they know about the halving, but they are building a bearish case against bitcoin because of the pandemic worst case scenario.

If the issue is associated with halving, it is quite normal to expect a drop in Bitcoin price. Such a prediction can be made, as a situation occurring in previous halvings is expected to repeat exactly. This expectation also points to the price increase after halving. But there are some speculations about when this rise will happen.

My friend says that bitcoin can go lower than $4k after the price rise higher, but he never tells when the time for bitcoin to go down. He only says that we must be careful from the dump that can happen anytime after the price hit the highest price, and we already see the price hit that highest price before. Well, I don't know what I suppose to do but one thing that I know that I need to analyze by myself, even if my friend suggests me to place an order in somewhere between $3,500-$4,000, I think I don't need to follow his suggestion until I can get more information about that.

Still, we will read so many predictions from many people that said bitcoin price would increase so high before the halving, and it will be back to the lower price and then the price will start the rally. They can make a prediction, but they still don't know if that will happens or not, and our jobs have analyzed the chart, and the order buy and sell to find more sign on where the price will go.