Just wan to ask about which technical indicator is more preferred when you do technical analysis, your comments will be highly appreciated.

Price forms a short-term bottom after multi-testing the support at $9,300, though I believe a short-term uptrend will be likely, concerns about the resistance by $9,800 - $10,000 are also mentioned.

However, BTC manages to move above the significant level with the help of several bullish news and steps back to that area several times after the breakout, confirming the effectiveness of breakout. We expect the bounce to continue.

After the surge with expansion in volumes yesterday, price is stopped by the strong resistance without support from volumes today, indicating that bulls are still observing and waiting around current level.

If the head and shoulder pattern can be formed effectively, the possibility for another round of bounce can’t be excluded. To accomplish that, however, price must remain above the resistance at $11,800.

Now that the short-term bounce has been started, our strategy should turn into bullish as well. Basically, bounce will continue in the short term with resistance at $11,800 and $12,500, positions can be added at the same time.

Original by Kuang Ren, translated by AICoin Jami.

Feel free to leave your comments below

The fact that price lacks the momentum to decline further after the bounce starting from the support at $9,200 indicates that price will remain in an oscillating move pattern within the range from $9,200 to $10,000 in the short term. Since price fails to dip below the support at $9,200 in the past 2 sessions, support at $9,200 is effective, meaning that price will mainly focus on a small-range bounce in the next session with weak strength.

Feel free to leave your comments below

See more news here: https://www.aicoin.com

So long?

Though price reaches to al low as $9.9K, price still gets well supported above 10K, if BTC can't break upwards, is it gathering momentum and get itself ready for next round of uptrend?

Feel free to leave your comments below.

After a continuous downtrend, BTC shows signs of recovery, but according to Kuang Ren, it's very likely for price to go downwards again after current consolidation, feel free to leave your comments below and view the full-version analysis here:

We saw some biding orders aiming to buy at a bottom price after it dipped below $10,000 with expanding volumes on hourly chart yesterday.

Some investors choose to buy at a bottom price because they believe current downtrend may get supported at $10,000.

As a matter of fact, it takes time before a real bottom shows up, which makes buying on dips before price reaches to a new high a significant strategy for long-term investors.

Lack of selling pressure when price moves to the former strong support area formed by $9,800 and $10,000 will lead price into a short-term consolidation period.

Currently, inflection point for price trend has been formed, consolidation is the preview of another wave of downtrend.

As the descending channel on daily chart remains intact, the long-term consolidation will not come to the end until price breaks above the descending trendline effectively.

I’ve been talking about the fact that short-term rally does not mean a reversal in trend since it lacks support from volumes, which makes it very likely for price to go downwards again after current consolidation.

As price dips below MA 5 and shows a tendency to go south from the upper limit of descending channel, operation strategy will be easier and we just need to wait with light positions.

Original by Kuang Ren, translated by AICoin Jami.

Check more information from Chinese market here: https://www.aicoin.net.cn/news/all?lang=en

Currently, BRC is consolidating around $8,100, but is you take a close look at the daily chart, you will find that volumes are increasing, indicating that price is ready to move up, and the target will be $9,800. But the overall downtrend stays intact.

Check the analysis from Chinese analyst Kuang Ren and feel free to leave your comments:

Judging by volumes on hourly chart, this time, price holds greater chance to move above MA 5 again when compared with last surge as marked. Basically, the expanding volumes indicate the enthusiasm of main funds to push price up. That’s why I insist that price will break above MA 5.

$8,000 and $9,800 are strong resistance on daily chart, if price breaks above $8,000 tonight just like how it did that in last 2 attempts, it’s very likely for price to bounce back to around $9,800, meaning that positions set around $8,000 will be unlocked. However, we can’t make any judgement about how price will move after getting to resistance level. Please keep in mind that current wave of uptrend is only part of the pullback on weekly chart, bottom after current move is unknown to all of us. Being cautious is recommended.

Last week, I stated in my analysis that price will keep stable in the next 1-2 weeks, now price is moving as expected. You can hold on to your chips.

Original by Kuang Ren, translated by AICoin Jami.

Go to https://www.aicoin.net.cn/article/13337.html for full-version analysis.

Also, can somebody help to provide the website that I can find something like minutes of the meeting？You will be greatly appreciated. Thanks.

For a newcomer to cryptocurrency market, 6K is a shocking low price, if someone is setting up positions around such level, will price breaks below 6K or it will fly from current level?

See the analysis from a Chinese analyst Kuang Ren, please feel free to leave your comments below:

Judging by the volumes on daily chart, however, we see another lower shadow around support level with expanding volumes. Price move shares a similar pattern with that around $8,000. How about the strength of support?

The surges as circled indicate that funds are setting up their positions before price climbs to next top, which has nothing to do with a continuous upward move, however.

Usually, it takes long before main funds with huge amounts of bullets set up their positions completely and even a drop by 50% is still acceptable to them, making it unnecessary for us to rush into the market. Along with the price move, a small part of your money is enough to deploy your own setup.

Therefore, price may move forward with 2 possible patterns:

Price will gain pace in downward move with expanding volumes and breaks below $5,500, the worst thing is that price slumps to $5,000, at that time, if you see a lower shadow with huge volumes on hourly chart, just buy it without any hesitation.

On the other hand, price may also consolidate around $6,000 with a small-range rally, making it possible for BTC to start a short-term pullback or move back above MA 5.

We’re confident about retesting $8,000 - $10,000 if price remains above MA 5 again, by that time, it is still not late to add to your positions.

No matter how price moves, chances for short-term profits are high. For day traders, keep cautious about the change in trend, the bottom is still not formed for long-term traders, however, if you want to buy at the very bottom price, you can keep waiting as panic sentiment among investors has not been completely released.

Original by Kuang Ren, translated and posted by AICoin Jami.

Price of BTC is $7,661 in Bitfinex, is it reasonable to buy at 7K or price will go lower? I almost lose my patience.

Still, i have an original price analysis from Kaung Ren, a Chinese analyst, to share with you, please feel free to leave your comments below:

Price is expected to continue oscillating downwards along with MA 5 after breaking below $8,500 last night. However, rally can be used to play the segment after dipping far below MA 5, you can also dump your chips when price moves back above MA 5.

Apart from the extremely weak performance in price move during the last 2 sessions, BTC also shows no signs of expansion in volumes at bottom price. Even though the arrow as marked serves as a support, nobody knows exactly where price is heading for when price continues moving downwards along with MA 5. If you bought around $18,000, there’s no more reason to be afraid.

Original by Kuang Ren, translated by AICoin Jami.

Check the full-version analysis here: https://www.aicoin.net.cn/article/12960.html

As you can see, BTC gets close to $9.5K this afternoon, basically, price is forming lower lows, indicating a bearish picture. In another wrod, it's getting close to 8K, the target price. Share your commnets here about whether BTC will get to 8K in the next few days.

Another original price analysis from Chinese analyst Kuang Ren, feel free to leave your comments:

BTC is still struggling to hold the support at $9,800, whether price can reclaim the inflection point at MA 120 or not depends on the price move in the next few days. Only when price breaks above MA 120 with expanding volumes on daily chart can you add to your positions. Until then, a light position or empty position is recommended.

The bidding orders we saw with expanding volumes around 1 am on 30-minute chart seem insufficient compared with the data on daily chart, indicating that someone is setting up positions. Currently, the best scenario for BTC is to continue oscillating above $10,000 as we’ve seen less and less bidding orders trying to buy at the bottom.

In another word, if BTC dips further, chances are high that lots of chips will be dumped out of panic. Besides, investors will lower their expectations for the bottom price and few of them will dare to buy any chips at that time, which makes it a better way to force the panic chips out if main funds want to complete the process of accumulating chips at bottom price. However, whether price will go as expected or not depends on the market.

The market is up to no one for now, before we see any bullish signs, you can set up a plan to accumulate chips step by step, for example, when price dips below $10,000, you can use 20% of your money to set up positions, if price dips further, you can use the same strategy.

Original by Kuang Ren, translated by AICoin Jami.

Full-version analysis here: https://www.aicoin.net.cn/article/12470.html

The fact that BTC has never dipped below MA 120 (blue line as marked) since the end of 2016 makes MA 120 the boundary between bulls and bears by default, but today, price just breaks below it, what's your comments for this?

See the original analysis from Kuang Ren, and feel free to leave your comments below:

The fact that BTC has never dipped below MA 120 (blue line as marked) since the end of 2016 makes MA 120 the boundary between bulls and bears by default. Finally, price broke below MA 120 after closing at 8 am this morning, meaning that market has stepped into the bearish segment. Though it’s hard for some investors to accept that, that’s just how market goes, the best thing we can do now is to trade in a bearish mind. Except that price manage to remain above MA 120 with huge volumes, or we’d better take a rest.


Though bears pull price down to the strong support at $9,800, bid orders set at the bottom are still insufficient, making it clear that the support at $9,800 may not be able to hold price up, nor will it bring price back above MA 120.


$9,8000, the highest level among the 3 support levels as marked, has been the strongest support so far, we can’t imagine what will happen next if price breaks below $9,800, price will find further support at $7,200 and near the area between $5,000 and $5,400. Overall, price remains bearish on weekly chart, as mentioned in my previous analysis, do not buy any chips until price moves back and remains above MA 5.

Original by Kuang Ren, translated by AICoin Jami.

For real-time pice information or global news, please visit www.aicoin.com.

As you can see the whole market is just so calm, somehow, BTC still breaks below $11K, is this the sign for further loses and a dip below 10K?

Here is an original analysis from a Chinese analyst Kuang Ren, look what he says about BTC:

The downtrend that we refuse to accept is obvious on weekly chart, price has been moving back to the MA 7 in the past 2 weeks without expanding volumes, indicating that weak movement will continue. Therefore, when that specific moment comes, price still holds a chance to experience further loses. Here is my advice: DO NOT get aggressive before price moves back and effectively remains above MA 7, no matter how price moves, all you need is to wait and see.

Original by Kuang Ren, translated by AICoin Jami.

You can track the price information and latest news from Chinese market here: www.aicoin.com

After yesterday's upward movement, now BTC is just hovering around $11,200 (Check the real-time price informaation here), will it dip below the strong support area near 10K and move to the expected 8K in the next few session before Chinese new year?

Feel free to share your comments below, we also want to share an original price analysis from a Chinese analyst Kuang Ren about BTC:

I have been emphasizing on my view that the bearish trend will remain intact for nearly a month.

There’re 2 oscillating ranges as marked on daily chart. We moved out of the last one 2 weeks ago before stepping into the red one.

Arrow points to the breaking point for selling, which can be interpreted as one of the reasons why selling should be the priority if price breaks the support with expanding volumes near the breaking point.

As you can see, BTC has only tested the upper limit once in the past half a month with extremely weak momentum after that point and even lacks the courage to retest that level.

Therefore, price will keep oscillating within the range as bears are still leading the market. DO NOT chase high here.

Original by Kuang Ren, translated by AICoin Jami.

Check the full-version analysis here: https://www.aicoin.net.cn/article/11905.html

As you can see on the daily chart (https://www.aicoin.net.cn/chart/D331D4E2), another double is being formed right now, does it mean that BTC will move up in the next few sessions?

Here is an original price analysis from a Chinese analyst Eric Chau from Hashpai, feel free to leave your comments below:

Comments:
Basically, the bullish trend of broad market has been formed, though BTC is still suffering from the possible bearish factors, trend is inclining to bulls however main funds try to depress the price and accumulate chips. Even if there’s a bearish policy ahead, the market is expected to suffer less loses than it did on September 4, the possibility for a correction can’t be excluded. Target can be set near $15,000.

Suggestions:
Chasing after dips is not recommended though bulls are stronger than bears, but you can try to go long when price dips and pay special attention to the risks. Setup with heavy positions is also not recommended before bearish factors are completely digested.

Original by Eric Chau from Hashpai, translated and posted by AICoin Jami.

Just look how altcoins surge, BTC is also bouncing from the strong support at 10K, I have to say now I'm bearish about the possibility for BTC to dip below to 8K.

An original analysis from Chinese analyst Kuang Ren about BTC:

BTC has been hovering around current level for quite a long time. The fact that BTC fails 4 times to effectively break below the $10,000 hurdle indicates the strong support from bulls, which needs to be re-tested after another round of rally.

Currently, price is forming the right shoulder of the head and shoulders pattern. The theoretical inflection point may emerge tomorrow.

If price chooses to go up, it will move above the MA 5 again and form the double bottom pattern with decent gains. If BTC moves in the opposite direction, however, MA 120 will be completely broken, leading to the crumble of bullish logic in the short term and a long-term consolidation pattern.

As we all know, MA 120 is regarded as the last support to bulls and it has stopped price from falling further during most corrections towards MA 120. Coincidentally, $10,000 happens to be near MA 120, making the oscillating moves around $10,000 normal.

We have not seen any changes in current downtrend on neither weekly nor daily chart, indicating a short-term and oscillating move within the range from $10,00 to $11,600. In the medium term, however, price remains bearish.

Original by Kuang Ren, translated by AICoin Jami.

Full-version analysis is here: https://www.aicoin.net.cn/article/11527.html

As you can see, BTC has tested the 10K for many times, where is the bottom exactly??

An original analysis from a Chinese analyst Kuang Ren about BTC:

BTC has been extremely weak in price move in the past 2 sessions, we can’t even see a decent rally after dipping from high level. The strength of bears is weakening as we can see on daily chart and price will find a strong support near $10,000. A short-term rally, which will only open the door to test the bottom and does not mean a reversal in trend, is possible as price will be safe around $10,000 in the next few hours.

Still, price is forming a head and shoulders pattern from a bearish perspective, the fact that right shoulder is lower than the left one indicates an extremely weak momentum from bulls, making it unwise and subjective to treat current price as the all-time bottom. To be fair, even though price has lost 50% of its value compared with the all-time high around $19,000, it’s hard to say that price has reached to the bottom if we can take a close look at the chart. My suggestion is that you should keep your bullets till the very moment comes.

Original by Kuang Ren, translated by AICoin Jami.

You can check the full analysis here: https://www.aicoin.net.cn/article/11427.html

After moving up and down, it seems BTC remains in the range between 10K and 12K, is it really possoble for price to dip below 10K and reach to 8K in the next few weeks?

Original analysis about BTC from Kuang Ren:

Overall, price surged by a small range after breaking below MA 1Week after the expansion in volumes at high levels. Though price moved back to MA 1Week later, price kept going downwards. On a weekly basis, therefore, the overall bearish trend remains intact, making it unfavorable to buy at current level.

The narrow-range move today shows the temporary balance between bulls and bears after the fierce game. Having a rest before any inflection point of rally or trend reversal seems helpful to control risks and free yourself from anxiety.

Original by Kuang Ren, translated and posted by AICoin Jami.

You can also track the real-time price inforamtion here: https://www.aicoin.net.cn/chart/D331D4E2

Yeah, BTC breaks above 12K today, though I don't buy it when it' around 10K, I don't regret it since I'm not quite so sure if price has touched the real bottom, whnt do you think?

Also, today I brought an original analysis from a Chinese analyst Kuang Ren, you're free to leave your comments below:

BTC:
As you can see, lower end of the range is around $13,000, which seems difficult to be broken though we’ve seen an expansion in volumes.

Such wave of uptrend opens a window for us to dump chips after a sharp dip with expanding volumes.

Do Not chase high as we’ve seen no signs of weakening momentum from bears. Decision on further operation can be made when price re-tests the bottom.

Original by Kuang Ren, translated and posted by AICoin Jami. You can find the real-time price information and news here: https://www.aicoin.net.cn/chart/D331D4E2

Is it too late to buy now??