Bitcoin Forum

We are close to death cross now and if we don't bounce to 10k quickly we take this cross. Let's discuss how it can impact on bitcoin price. My forecast if we take it, we get bitcoin fall down to 3k at least within one big red candle. Any other opinion?

For people who don't know what OP is talking about, refer to this article:

https://www.bloomberg.com/news/articles/2018-03-16/bitcoin-s-death-cross-looms-as-strategist-eyes-2-800-level

I'm personally not concerned. Past performance is not indicative of future results, as they say, and this is even more applicable to Bitcoin compared to other traditional assets, where technical analyses are usually applied.


Honestly, good luck with that prediction lol. Bitcoin has bounced back since, too.

I see no reason to panic until it happens (the 50 and 200 MA crossing on the daily chart), which I do not see the likelihood, at least for now . The market has bounced from the $7300 - $7400 range even after some of us speculated a double bottom, we are currently having a bull flag formation and fundamentally, there is optimism in the market as things aren't looking bad, so, let's have something to hope for.


Apparently, that would show huge weakness and I do not want to imagine the massive dump that could happen, but like I said, I do not see this happening and even if it does, it will just be a good time to target a good price to buy more.

I still sitting in fiat and have downstare to buy at 7500-6000 levels, now we have flat and if we don't grow in few days, death cross can happen. Does anybody remember how it was with bitcoin when death cross happened last time? Maybe in year 2014 it was last time?

this is not a Sci Fi movie so that won't happen.
for all we know, we might continue seeing a slow creep up towards $10k within next month and testing it multiple times before breaking it and price may never go below $8500 ever again during this slow rise and resistance test!

my guess is that it will remain in this price level for a while then breaks $10k and heads to wards $11k in 2 days time without any stop.

I can see this happening as I think people are too quick to dismiss the market activity in 2013/2014 as not happening again. If you compare the charts the pattern almost looks like a exact repeat of 2014 where the market crashed, briefly recovered to about 50% of the previous high which held for maybe two months and then it crashed down again even further. That time it took the remainder of 2014 and all of 2015 before the market started to slowly rise again in 2016, and taking nearly to 2017 to return to the 2013 highs.
 
Point of all this is it has only been two months since the ATH's and it takes much longer than a few weeks to fully correct and recover. Hopefully the process does not draw out as long as it did last time, and maybe not go as deep, but getting back to the OPs point, I can fully see BTC dipping to 3k yet, albeit briefly, before taking off. I can also see this drawing out all through the summer and fall and maybe not starting a earnest recovery until sometime in 2019.

Was it 2014 or 2015? However, a lot has changed since then. Absolutely, no one can predict anything as things can change within a split of a second, so we might as well just wait to see how events unfold, but always better to stay optimistic and blend with the flow. If we do not, news like this will send people into panic even if the MAs are just brushing each other and not crossing. Just my thoughts!

Also, I wonder what you were waiting for to buy when we touched the local support and bounced from $7400 with the bullish divergence that was displayed on the MACD on 4hr period. I hope you do not turn out to be those who wait for a particular level and end up not getting it. No one can see the future though and I understand you may be playing safe which is good, but personally, I always prefer sticking to what the chart gives me at any point in time, rather than assuming what the future holds. So, I guess we will just have to keep our arms crossed till then.

I entered and quit to the market many times and always I enter if following conditions are met:
1. I enter on bear market on the lowest price I can predict. For this moment it is 6000 like we had in Feb'6 (double bottom is very possible).
2. I enter once I have confirmation that trend is changed to bullish.

Both conditions still are false.
For second one, confirmation would be breaking 10500 level, but partiallly I'm ready to enter once we break 9300 resistance. Now we can see flat and we can go both way depending on following news background.
And yes, we can fall like in 2014 whole year, no reason to exclude this scenario as well.

i have to give it to FUDsters out there. say anything you want about them but the good ones are so creative. "Death Cross", "Crypto Winter", and all the ways they make a new FUD has always been pretty creative. that is why it has been always effective and caused panic sells.

although in this case i have to say OP is late to post this old FUD. it already happened and panic sell is long over and he is about a week late to the party :)

totally agree, we have have it again

I also do not put too much weight on chartists ability to predict movements in price. Technical analysis really only has weight on very short term price movements. I would ignore this as i have a long term view on BTC.

All exchanges as I see follow one top volume BTCUSD pair exchange Bitfinex. And this gives great space for manipulation with the small sum of money. That's why I don't believe any price indicators in crypto looking just on volumes. Maybe other indicators working because I also put short stop-loss for BTC now;)

I agree that we can see strong volatileness after this long flat and direction isn't clear at the moment. So everyone should have stop loss or do not open postions yet IMHO.
And death cross isn't happened yet. It was FUD week ago but now it can be reality in few days.

This has been forecasted last week when bitcoin was going down to the $7500 levels and everyone in the prediction thread that $2800 is looming. But after 3 hours suddenly the price jumps to $8400 and just like that the FUD died down.

And now we see another thread like this, last week proves that any sort of prediction will happen, or won't. So I guess we need to see how everything goes. But personally, I don't think that we will cross $3K-$6K, we may shoot to $9500-$10K at the end of the month.

TA has no power here

Bitcoin had slowly recovering that it already reach to $9K thats a positive movement of btc price as of this moment,i think theres no reason to panic,no one could ever predict bitcoins growth.To fall or to rise is a natural movement and i believe until it did not reach to 0 bitcoin is still worth enough to be trusted for long term investments.Death Cross for me is too far from reality.Lets just believe in its capability that it would grow more and more and continue to gives us a chance to make our dreams fullfilled.

I am not sure of death cross applies in crypto but from the recent price movement investors seems do not care about it. There were some talks about this in the money news but analyst are also aware that technical analysis usually do not apply in crypto market. Lets just hope that this is true because i know in stocks it means massice price drop.

Not sure how you did this death cross technical analysis but dropping to 3kUSD is quite drastic. From the moment you have posted this I think the strong support is at 7800 level. And we also have a strong support at 5900 to 6k USD that has been tapped within this month. I dont see any FUD that could cause BTC to go and drop down at 3k level.

I hope that 5900 level will stay alive after death cross.

Forecast is good to see what things out in the future but bitcoin change from the past years some investors exit and some enter so why should we worry we are on the right track all we need to do is hold and wait. But if you are right that bitcoin will fall to 3k that is good time to bought bitcoin.

I don't understand how stupid minds like you can make predictions about bitcoin price when you have been here I guess from few days or few weeks . If you know nothing about bitcoin and cryptocurrency just shut up watch and learn . People here did buy bitcoin less than 1K $ and I am one of those people and I still holding my coins bitch and even if the price drops to 2 K I will not sell and definitely I will buy more because guess what bitcoin will hit 40 K by the end of this year .

Isn't it obvious that many cryptocurrency investors do not follow technical analysis, they only want to make in-depth analysis based on market futures. While volatile crypto market is determined by news source that related with it. I will not take part with this technical analysis because it's just a superficial analysis as a tool for pay attention.

My opinion is that you are talking nonsense. While you are saying that Bitcoin will fall down into at least $3,000, I am seeing a different candle. I am seeing an opposite candle that might go as high as $12,000 soon. That $10,000 bounce back is very low. As a matter of fact, we have just seen very recently a recovery of Bitcoin up to $9,000 with just a single announcement coming from the G20 that there is no need to put a strict regulation to it since it is not really a force to be reckoned with in terms of world's finances. There is much more growth to come for sure.

Why you insult me? I'm at crypto since year 2014 and know much about bitcoin, including that it can fall almost two years in a row. I was feeling that already. But you it seems entered to the market at 2017 and believe only to growness ;D

Volumes were not high after this news, so it's not a confirmation for further growing yet.

I am not insulting the person , I don't know you , I am only insulting they way you are thinking , if you don't believe in bitcoin , you feel that the end is close and that every thing will fall down then why you still here , why you care , you are only spreading FUD , pushing people to panic . And by the way I am involved with this world since 2011 and my account was hacked 2 years ago ok .

Just I sold bitcoin at about 18k and now want to buy again, so I'm finding best price to enter. My target is to buy it between 6-7k but I'm afraid if it will go to 3k due to death cross. That's why I created this topic to discuss is it real threat or not.

Good for you if you did sell at 18 K but believe me it will never go down to 3K , guess why , because the moment that he will reach 5 K support line it will create a massive demand for buyers and it will bounce again for sure , there are millions of dollars in the market , this is not for kids but for real investors , any way I hope that he will go down like in February because I want to buy some more .

People forget that BTC went from $3k to $10k in 2 months from September, and that type of growth simply is not normal. BTC interest has fell to early October levels. Not to mention taht the boost from $7s to $9.2k the last week was due to G20, and $300 million tether print and we don' know where that money came from, or if it's even real.

If it falls, I think $4k-6k is the lowest we can buy if the real price should be around $1-3k.

Let's see if the 50 day/200 day SMA death cross happens. It may very well just bounce off of the 200 day SMA for all we know. Bulls are gonna be fighting to get that April rally that they want.

At what basis you are making these assumptions? Price might recover at any time and currently it is well above $8k which is 8x from the last year price so I don't think we have to worry about anything.

Death cross ;D ??? ::)

Price can move to any direction but I don't think $3k is possible from this point.

If your prediction is right on the future, it means bitcoin price will reduce about 80% from now.
But i think it is a quite not right. Based on history of bitcoin and crypto price past years, there is nothing like this.

I'm not concerned. BTC prices always made surprise moves in the past seemingly to defy TA on purpose. It could be a good short term swing trade opportunity though. Will keep an eye on that.

Agreed, but lowest peaks also should be considered like 6k where I buy and we fly to the moon

In the western part of the Pacific Ocean there is an island called Yap. For several hundred years, indigenous Japetzians used a unique form of currency - Rai, or stone money

I don't believe that Bitcoin will be 3k. May be down to 6k, but the new good news is caused by the explosion and can hit 10k. But if it stays a little more 7k, it can go down to 3k, even 300.

I never saw this Death Cross when it comes to Bitconnect. No death cross for Bitconnect but there is a death cross with Bitcoin. Silly logic. Bitconneeeeeeeeeeeeeeect.

Bitconnect is another story and happeded due to scam of the exchange. If for example Binance became scam BNB will fall many X times as well

But still why is it that there is no death cross analysis with regards to Bitconneeeeeeeeeect. They must be scammer analyst themselves. And you don't even know the story of Bitconnect or are you sugar coating.

I don't think previous chart analysis can have much impact on bitcoin price right now. Investment and trading in cryptocurrencies do not largely based on history as it can be said of football. The crypto market is highly volatile and many more changes have taken place since the crash; I think we must base our prediction on factual analysis and critical speculations that are time bound

Those are just prediction and it could happen or not. But the trend of the market now though seems bearish but there are support orders coming and have been supporting bitcoin not to fall at 7500$. So as per analysis the bracket of bitcoin right now is at 7700$ to 8200$. Compared to the previous bracket this is much lower but the volume of coins being bought during this bracket when it hits the bottom is high. This is a signal that possibly many are just awaiting for another dip to buy more btc which is a good sign of recovery after a dip.

Yes, Im's sitting in fiat and wait for better price, current one is not dip.

many people are discussing this matter "death cross". this is so bad that this does not happen and if it happens I hope the price does not go down very deeply. My prediction support is at $ 7k, $ 6k and worst $ 4k

Once death cross is happened we can see BTC even at $900 level.

I personally do not think this will happen. I think such a sharp drop to 3k is not so likely. I think a possible drop would have come to a minimum of 6K.  ???

https://d1efx2k3wyih38.cloudfront.net/2016/04/14083652/dc1.gif

If you bought bitcoin for hold, then forget about the course and do not look at it for the next 6 months, and then everything will be fine!

I can see this happening as I think people are too quick to dismiss the market activity in 2013/2014 as not happening again. If you compare the charts the pattern almost looks like a exact repeat of 2014 where the market crashed, briefly recovered to about 50% of the previous high which held for maybe two months and then it crashed down again even further.

In the western part of the Pacific Ocean there is an island called Yap. For several hundred years, indigenous Japetzians used a unique form of currency - Rai, or stone money

That is very interesting but how does it really relate to the OP?

I am not very concerned, and if Bitcoin must drop to 3k so be it, I have seen it drop from 1000 to 300 in the past, so why not a drop from 10k to 3k? Hell, only more opportunities to buy it back from people scared like shit.

I am sure somebody wants to pull bitcoin down and buy the dip. But this dip should be worry by other people. But for me that I'm holding bitcoin for 3 years now. Im not worried about it anymore. Well it will bounce back it takes time dont you worry.

Crypto price speculation cannot be done with just one analytical technique, the power of the whales is still a major factor in the price movement of crypto. The death cross occurs when 50 and 200 SMA are crossed, we should not rule out any such analysis because the history of the chart movement can also be a reference to future price movements. But, I think the rejection for bitcoin prices drops more than $ 7000 is still strong so it could happen at any time of massive reflection because I've seen 2 times testing the ability of the support line.

Quite strong level of support is 7300-7200 but it was crossed recently so it's not strong anymore, below it we have strong support only at local min at 5800-5900. So if some will sold out btc e.g. 100k at once I guess we can test even 3-3,5 level as quick thin candle. May be it's the end of bearish trend we look now.

Ha ha ... post more often please I can't stand all this sensible reasoned and measured discussion.


Where can we locate these 100k btc holders that didnt want to sell at 20k but want to dump it all at once down to cents?

I would like to discuss other business opportunities with them also.

When happens, the Death Cross will trigger the long-awaited bull run, buckle up.

And many of them still supposed they are traders lol