Bitcoin Forum

then it would be a great news then for the whales.. and for the new buyers.. and crying time for high buyer and low seller.. I mean which one will take advantage of it.. great or small has a change to change their life... the saying that what comes up must go down.. and what goes down must come up.. thank you.

lets see.. but I feel that we are going stable now and slowly go up..

December 2018 target is $2,000 for Bitcoin

Well, your graph is very representative, but i don't think if there will be a dump just yet, the prices are at the rock bottom and i doubt if it can go any further, if it happens however, it will be good news for new investors venturing in the crypto field

It could happen, but I do not really think about the dump price, I will wait and buy it, I always take the opportunity every time.

going from $6700 to $6900 and having he possibility to go back to $6700 is not called a "dump is coming" situation. it is called normal market fluctuations and this stage can also be considered as an stable phase for bitcoin since for about 2 weeks the price has been around the same price without much of a change and the chances are this is an accumulation phase which is the most likely explanation.

a dump is if price drops to $6000-$5900 and prices like that. so clarify if you think it is going to drop that low? and why? just because of some lines on the chart is not a good reason.

Hope you are right,I need to buy before weeks end. Some how I see it going up till midweek the following week before anything happens.

At Bitfinex many are betting on a downfall as well. This time I'll bet differently. Lots of graphics betting on the fall. Lots of news about the decline in use of the word Hodl. Many saying the bubble burst.

But 6k will not pass.

https://img00.deviantart.net/51e6/i/2004/144/1/b/you_shall_not_pass.jpg
We will never see bitcoin again at 5k


LOL Production cost is always adjusted. Those who can not take it, leave the game.

Your bands are converging at a spot that is higher than the most recent lows. So "the dump" as you call it will be higher than the most previous "dump"...according to your chart.

A better topic for discussion is what happens when the trading band narrows, converges to a single point? What are the triggers that drive the move after that convergence to be up...or down, because we're poised for a break out or a break through, but you're not talking about how we'll know if either is happening.

OP, what? No. The "dump" has been becoming weaker and weaker, and I believe that also means Bitcoin is now starting to find some support on the  $6000 - $8000 range. It's a good opportunity to buy now.

Where is kwukduck's FUD? I need confirmation! Hahaha.

If we notice the long-term chart, the 100 SMA is higher/above than the 200 SMA "this means that the price will rise".
I do not know, but I think the Bitcoin made a "psychological barrier" at $ 7000 and it needs to be broken to raise the price to the stability levels of $ 1000 or $ 8000.
Also, I do not think a lot of bad news looms
Consequently, the dump "back to 5000$" is unexpected.

Not far from the truth! The whole sentiment right now in the bitcoin market is bearish and based on the pattern forming from the previous fall and the triangular formation afterwards, it is a bearish one that shows a further downtrend.

However, it is a market, and basically, we can only look forward to the break out which could be in both ways, just that it is more focused on the bear side now than the bull side. I am still bullish long term anyway, but still would not mind whichever way it comes, as long as you know how to take advantage of it for the future.

It is normal to see low volume in both ways in moments like this. It is more like the bulls and the bears trying to draw the rope to see who eventually comes out stronger when a triangle formation comes up, but for the fact that it is a triangle formation that has formed from a downtrend, it falls more on the bear side (technically). However, it is until we see the break out like I said, before anything can be guaranteed.

For now, we're going to stay under $7000 it seems.

Any attempt above to get above $7000 will most likely be stopped unless there is some very big news coming out all of a sudden that is positive, regarding the regulation of bitcoin. Otherwise, we're still stuck in this short term downtrend.

But I wouldn't call a $200 drop a dump, that's crazy, since it's barely even a 3-4% drop from the $7000 level. According to your chart the trend lines converge at around 16 April, and that should be the focus instead of worrying about its sideways movement for now.

Anyways, $6000 is solid support for now that shouldn't be breached any time soon.

Seriously? LMAO.
I believe that the dump was done already.
There are newbies that are also spreading fud. Does anyone know where he is? 

Bitcoin's price used to be below cost of production for a long time. It's a self-fixing problem which is not something we should worry about. When the cost of production stays above the actual price, either miners will stop mining bitcoin or the demand will rise and push the prices higher.

Bitcoin price can hit $2k this year indeed and if that happens, it would be a major buy opportunity. Like free "%100 get rich" tickets for everybody.

Pattern and trend line broken, hope we go on a bull, even if it's a very short one.

I am no expert in TA but you seem to have missed the other part of this pattern!
as long as we are inside that triangle you can not tell which way price is going. the lows are not horizontal for you to call for a drop and your highs linked together don't form a horizontal line either to call for a rise. this pattern only means you can not tell which way price will go.
if it breaks below the support line it will drop and if breaks above the resistance it will rise and it will be bigger because there are investors waiting for such breaks.

ps. as you can see the rise part occurred! less than an hour ago price started testing that upper line and broke it so price went up, currently sitting at $7600+

I really don't understand how people easily assume that we can guess bitcoin price with broken or unbroken trends. Bştcoin isn't a stock. Its very speculative commodity with volatile nature. In this manner I think bitcoin won't drop anymore.

Price actually broke the other trend line too. The high is 8000 and the trend line at 7900.

Saw this thing and I’m so happy to see bitcoin on this level again but I’m wondering why the price spike high in just an hour. Hoping that it will continue so bitcoin can hit $9k level again, gonna crossed my finger the whole night while watching the price movement. 😂

We can't stop people to think that bitcoin is the same as stocks because it is like a stock.

It has pumped today at $8,000 and this can be the effect of the Soros and Rockefeller news.

Yeah bitcoin start to pump it might be the beginning to pump up more if you dump your BTC at this point  of times   big Whales will  be  happy, because if it soar high there's a possibility that there's a panic buying and if it will happen there's a rapid climb,and if you're a true believers don't miss this opportunity.

this proves my theory that Technical Analysis does NOT work for bitcoin and you should never use it, specially if you are going to call things like what you did here and said "dump is coming soon"!!!

TA is good as some sort of guideline of a possibility with a low chance of happening but nothing more.

Over $150 million of shorts were just liquidated on Bitmex.

https://twitter.com/BigRekts

The market was recently just pumped then here we go again with this kind of thread, what do you expect from the bearish market then the price suddenly jumps to 8K USD in just one day? Will it stabilize from that point of pricing without a single flinch of fluctuations? this is totally normal in cryptocurrency we don't have the total control of the people's action towards their bitcoin it's their freedom to cash out or to switch their coins that's why it is fluctuating as some traders and investors are cutting their losses.

And this is the reason why I don't make any predictions. Bitcoin likes to prove you wrong!
OP what do you say now ha? Instead of getting dumped, we just broke the upper trendline of the falling wedge we were in.
Always have a look on the higher time frames first! In this case daily chart or 12hr. ;)

I am sure that the pump is already switched on. Perhaps this year will be continuing to show the candles. Large speculators entered the cryptocurrency market and now we are waiting for sharp fluctuations. You need to be constantly ready to turn 180 degrees and back. We're gonna need a lot of patience.

Maybe or maybe not,but I think the price may not fall again that much because it looks like the whale decided to buy the bitcoin that is the reason the price increased suddenly maybe the price will rise again so buy as soon as possible guys.

That high? I thought more like $70...

Yes it may and it has always chance but the thing is, dump is just a normal thing and even the price will goes back to where it was during it's bottom yesterday (IIRC around $6,500) then as usual, everything will back again from speculating. A number of technical analysis might brought up because of this price surge but none of them actually can tell what will happen or even closed to it. Those analysis, even how professional and well detailed it is will be spoiled once there is an unexpected rally so take those analysis for reference purposes only.

Sometimes people are just doing an analysis based on the current trend and not prior to it.

Well, it's likely to happen, the market has been pretty stable the last 1-2 days, remaining in the green side most of the time. It already pumped to $8.100 and then crashed back down to where it was, at $7.500's. It can't be pumping forever, thus, tomorrow the market might crash and then partially recover the next few days.

I'm glad you're posting today and not hiding. Apparently the dump wasn't coming "soon...like tomorrow"!

Sure, the market might crash. It also might sky rocket.

Can you answer my question?

What's your "prediction" now? The kwukduck is strong in you young padawan. After several hours of making this thread, the price went up!

Our only hope now is for you to keep predicting a dump so that the opposite takes place. Hahaha.

basically , but in my view also perhaps it will never go further on this moment, 'cause we all knows that there are some scenario that always happened in the market. and i think this is just a temporary pump which is it will swing back again for sure and maybe those whales is waiting for the right time to manipulate the price again.

BTC price may drop back down to 6.5k again, and then hopefully will break through to 9-10k. The increase happened so quickly yesterday it was pretty crazy. I remember checking, and 20 minutes later it had jumped about 1k and huge buy orders were coming through. Things are looking pretty good right now, let's hope it's not a bull trap, and that things can keep going!

If we are positive then it will continue to run high, the only matter right now is for those who are holding decent numbers of coins who bought it in a much cheaper value, they can easily dumped and enjoy their profits, and for sure OP's speculations will happen right away, lets enjoy and keep monitoring our
investment, keep positive and always study before doing any actions, not because someone say something then it will happen accordingly, be well prepared and enjoy investing.

It seems that the price goes on other direction as it was not dump today as what OP predicted. I'm not convince on a technical analysis as this volatile in nature will not follow on that charts...maybe if it happens it's only a coincidence. I'm hoping that this is now the beginning of a good rally to push the price at next level.

Why some people base the graph on the flow of price of bitcoin. No one knows what will happen, if some people knew bitcoin will go on that price they speculate why they aren't  go all in.

This is the beginning of the green days. Since the last time when the price was quite low, the whales gave an impact to scare those weak holders and they became successful with their plan of pushing those weaklings to sell. And that's the time they just wait for the right time to push the price again and the market cap that was added yesterday is a big one so it's not just about the price but it's the whole crypto market which is experiencing green and positive charts today.

You must be kidding lol. I usually do not care this kind of jokes. No one knows what the target for 2018 ending is going to be like, but $2000 is way too low for a market that is about to test another bear phase and I totally believe before the end of the year, we would have been done with the bear phase and enter the bull phase, but at the end none of us actually know how far we are going to go before the end of the year or if it would just be a year of consolidation.

No one will not go all in even they do know what is going to happen. Diversification and level of affording lose limits are the few factors, most investors/traders do consider. OP is just trying to FUD with his chart. Better not to listen such things.

Yes we have seen a slight increase in the bitcoin price after so many days, which was already expected, i think that increase in bitcoin price will continue increase and therefore it is expected that bitcoin price is not going to dump but will continue increasing for some good time, hope that we will see bitcoin price trading again above 20000$. Therefore i think it is the best time to invest money in bitcoin right now.

Your analysis does have a point just a reality in the market is very different, a lot of it is predicting that bitcoin will decrease up to $5k but in fact there is a big whale go in and make most everyone analysis to be wrong, I am quite happy to see bitcoin prices experience recovery again, hopefully this continues until the end of the year like last year

Lol price of bitcoin grows as you speculated the dump,seems like youre angel missed something to tell you huh?though this is weekend trend that prices dropping normally still we can see the strong hold of bitcoin ..so what am i waiting?its april 17 for the market to shine again and attract more investors to start the party and go back to business

It will go up, but nothing like how things were going last year, just forget about that. Last year's bull run had so many variables coming nicely together, that it is nearly impossible to mimic that exact situation, and we don't have to. Such insane bull runs happen once every few years, where the one before the recent bull run was back in 2013. Currently there is so much that we can look forward to, that the market is almost guaranteed to leave these levels behind for ever at a later stage. My guess is that every bottom after 2019 will be far over the $10,000 level, which we can all look forward to. In the short term, we just have to accept sub $10,000 levels and use them to keep accumulating as many coins as possible. Eventually people will look back at $10,000 just like how we look back at the $1000 level right now, and back in the days when we were hovering around $1000 levels we looked back at $100. See the progress? ;)

$1
$10
$100
$1000
$10000
$100000
$1000000

Oh for sure. Not just good news for the whales but good news for those who see the huge long term benefit for bitcoin as that would be the best time to start accumulating even more if they are smart and wise enough to do so. It is all about taking advantage of every opportunity and as it seems, this is an incoming one that is knocking on everyone's though, and whichever way, up or down, never miss it.

Till last day of last week, bitcoin prices showed some appreciations but today it seemed there is a change in the course of trend. But it is usual thing in bitcoin market to see sudden changes in market conditions. Lets wait for some more days to get clear directions.

Generally if you can read technical charts it can help you to understand the basic how will market react or in coming time how does it look. It just gives you a snapshot which can help you to identify if you need to buy/sell and accordingly you can take your decision.

Very small number of users have the strong knowledge source to analyze the chart and predict the real outcome of bitcoin with relation to time period. When a price pumping takes place, further there will be a dumping, some might have predicted based on the ongoing price increase that a dump can happen soon.

That is right, it is in fact not so easy to analyze and come to an conclusion, specially for the new investors, i think that most of the investors are depending on the news that are common spread in the market, as for law few months the bitcoin price was trading very stable and in a low price, but after getting some good new about bitcoin in the market give a boost to its price and we say a remarkable increase in bitcoin price even in a shot period of time.