Bitcoin Forum

Hi guys!

I traded BTC quite a long time and found the following trend: changes in the BTC exchange rate are often continued by the waves. Usually, there are three waves with attenuation (the first is the most powerful, the second is smaller and the third is the residual, when the exhausted market is trying to move in the same direction, but there is not enough strength to break through). The more timeframe, the more clearly this tendency becomes noticeable.

At the time of writing the post for the pair BTC / USD can observe the completion of the next cycle and fall of the angle of incidence, which may well indicate a future trend change (the timeframe in the figure is 12h):

http://www.imageup.ru/img47/3030332/bitok.jpg (http://www.imageup.ru/img47/3030332/bitok.jpg.html)


What are your opinions on this matter? What prospects do you see? How will this affect the whole of the crypto currency market?

It seems the trend is really changing. Yesterday's decline is the last waves before strong growth. I think
the price of BTC will start to grow  in the next 2 weeks  and will return to $ 12,000.

The bitcoin price increase trends should have happened today or yesterday, but they're all colliding with the Easter day that took place today and my prediction leads to the occurrence of small-scale sales transactions with large volumes at various exchange sites.

I don't see bitcoin breaking the 5 digits barriers anytime soon. We have dip as low as $6600-$6800 depending on what exchanges you are looking. Right now we are fluctuating around $6900-$7100 so I don't see enough support to be able to sustain in the next couple of weeks to even get to $10K, much less $12K.

However, if everything fits perfectly, we may see some rally up to $9K and then see how it goes from there. Just like I said on previous thread, we need fresh blood to pump the price, but its not coming because they are reluctant and most of them are just doing day trading, that's why we will see a pump and then dump in the next hours or so. Would be happy to see the price goes to $9K though in the next coming months and hope its gonna be sustainable.

If this trend keeps going like that, it is too obvious that it will going to fall straight to some several levels of dollars. I wonder when will it going to bounce back at the top, everything was slowly dropping and yet some are slowly rising. It's hard to see a steady growth when there is too much alteration of the market that could cause the price to behave like a downward slope.

The trend is still down even there will be a jump after this 3rd touch of the support line. We have to break out this downtrend channel. If not, we are going to see more 1-2-3 jump formation (if this is a formation) and of course lower and lower prices.

Many things have changed in bitcoin's popularity and i don't see bitcoin ads lately maybe you are right they are colliding with the around the world events. From my perspective the criticism on bitcoin is rising and it keeps getting worse i think that might also be a reason why bitcoin is not on trend anymore.

I don't like to analyse only by technical aspects on the graph. As we can see in the news there is not much positive these days about cryptocurrency overall. We don't have strong fundamentals right now to have strong growth, imho. My opinion that we will probably fall more or it will be long flat period up to june. In june we can see some changes, but I don't think that sooner we will see big positive movements up to 12k.

How do you know that in June we can see the changes? Any good news you're expecting in June?

As of now, many governments are putting restrictions on exchanges so new investors are worried about their funds. It may take very long time to see prices to go up and don't think that all these things can change in just another three months time.

That's good catch but to be honest these are just trends which can be visualised in number of ways. I mean if you peak another time frame then you will have another patterns emerging which may or may not match up like this again. However with your current visualisation pattern I am pretty sure that the up surge is coming soon. I mean that is what it represent the point before the #1 wave. As the cycle is almost complete with the residual #3 wave then it means we are almost there to catch the rocket launcher. That's what I am sending from the whole thing. However I also mentioned that with different time frames and graphs you get differences.

You can see that the market is fluctuating continuously and extremely mixed in the past few days, bitcoin prices are constantly flowing and there are no signs of slowing down. Bitcoin prices are currently at $ 6600 and are still on the sharp decline. I think you should not trade at this time because the risk is very high. According to my analysis, the price of bitcoin will continue to fall sharply this year and will probably reach the $ 1000 mark then the market will go flat for many years.

The market is in a downward trend. The price pushes from the support level and tries to break through the resistance level. Wave motion occurs always in any market and with any asset. Now it does not make sense to predict something. If the support  will be broken at the level of 6000, then it is possible to further will fall to the level of 4000, or turn to the resistance at 7500.

We can't predict the price of bitcoin. TA are not effective on bitcoin price. Tho sometimes miracles happens if governments and financial institutions will give some positive news and that's the time bitcoin will increase.