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Economy / Speculation / Close to BIG Breakout. Will it be $7K or $13K?
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on: September 03, 2019, 12:54:52 PM
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Let’s analyse in detail the technicals for BTCUSD . The price chart of Bitcoin suggests that there could be some more downside ahead.
The downward sloping linear channel, being formed on the daily timeframe , confirms that market sentiment becomes increasingly bearish . In addition, the triangle chart pattern, formed on the daily chart , implies that there is high uncertainty among traders as to the trend direction for Bitcoin over the short-term.
At the end of June, Bitcoin might have been way overbought, and since then has been making a series of lower highs, telling us that the buyers were getting a little bit less enthusiastic.
Now, the price is very close to a significant support level at $9,000, and the downside risk of breaking below $9,000 remains high. If Bitcoin to go below $9,000 per Bitcoin , it will be confirmed to go back down toward $7,000 or even lower.
Interestingly, over the long term, I strongly believe that Bitcoin is a good ‘buy’ opportunity and remain bullish on Bitcoin . In addition, if we apply the Bollinger Bands Indicator we can see that it is moving sideways, and the price is floating near the lower bound. This indicates the probability of a short-term price appreciation for Bitcoin may be high, versus the continuation of a decline.
Conclusion
The price is moving sideways and we should wait for either a breakout above the $10,500 or below the $9,000, to be able to make a substantiated trading decision.
Active Trade Signal
- Buy at $9,500
- Stop-loss at $9,000
- Take-profit at $11,000
- Risk/reward ratio: 1:3 (very attractive)
Additional Trade Signal
- Place a sell-stop order to sell Bitcoin at $8,850 (in case, the price breaks through and below the $9,000 level, the order will be executed).
- Take-profit at $7,500 (or higher, depending on your risk aversion)
- Stop-Loss at $9,500 |
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2
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: September 02, 2019, 02:44:48 PM
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Any time that bitcoin market price is declining the next this you should do is to buy at that cheaper price and hold till when the its price appreciate again and in doing that you will make profit and at the same time you will help the market bounce back to its fullest height.
Good point on the take profit at 12.5K. There is a lot of resistance at 13K, so it is a good idea to take profit before it hits it, but with the way the trend is going, if it reaches past 12K again in the near future, I think it will explode towards 15K. The market value now of bitcoin has really been stagnant on this price for a while now, and I am sure that if we break $12k barrier now, $12.5k can never be the limit, I am very certain of that, I believe that from that $12k now, we will surely cross that $15k, just tat we may not really stay there for too long because f the bears we still have in the market and some investor that has a profit goal setting and has already set their goal on $15k,these people will want to dump their investment, making the price to crash back to low. I just believe that before the year fully runs out, we should be able to see the value of bitcoin get that high before making for some further corrections that will take us over to the next year. As the rice as then declined now, the very best is to accumulate now. Hi, No one knows for sure, but, most probably, you are right! There are very strong indicators suggesting the Bitcoin price is set for a massive move, and may even potentially achieve new all-time highs by the end of 2019! The price you’ve indicated - $12,500 - is certainly very important since it’s a significant short-term resistance level, which, when broken, will result in a massive move upwards. Currently, the price has formed a triangle chart pattern and is moving sideways. We should wait for either a breakout above the $12,500 or below the $9,000, to be able to make a substantiated trading decision. I believe that the probability of a breakout above the $12,500 resistance is much higher, and I’m anticipating a new rally upwards. |
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3
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 30, 2019, 09:46:26 AM
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Currently bitcoin is dumping very strong and at risk of going back to $ 9k today or tomorrow.
Do you think I should DCA? I always believe in the future of Bitcoin but I still have not determined the right purchase price. Can you help me on this? thanks very much
If you are a long-term investor that basically any price is a good price, because the long-term valuation of Bitcoin implies that it’s price can increase significantly higher compared to today’s price. It you are a day-trader, than consider entering now at 9,500 with a tight stop-loss and a take-profit target at $10,500. This is an excellent deal in term of potential risk/return. |
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4
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 30, 2019, 09:46:05 AM
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 bitcoin now 9588$ i think it may crash more ! It may decline up to $9,000, but the decline lower that level is very unlikely. This market provides a good opportunity to buy at a cheap price with a tight stop-loss, which is an excellent situation for traders. |
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5
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 30, 2019, 09:45:44 AM
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Bitcoin so far was declined again, probably there are some whaler put a huge amount to sell their Bitcoin where it leads the price went down so much. However, it is a good timing for us to buy em again then hold in a long term for us to gain in the future when price goes up again in the market as well.
Exactly. The price has broken down below a significant support at $10,000. An even stronger support is located at $9,000 and is not broken yet. The outlook for Bitcoin remains quite positive, supported by the strong signals based on technical analysis. |
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6
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 30, 2019, 09:45:28 AM
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Currently the bitcoin market is bearish and we do not know how long this could continue, it is wise to get out of the market at this point and hedge in usdt or any other reliable fiat. I hate to trade at such conditions, we may get as low as $7500 at this trend
No, we will likely to see over $10K again, my observation says that when bitcoin drop below $10K, it did not continue to drop, instead, it's going back to $10K again. More likely what we are witnessing now is not a bearish movement but just a normal price fluctuation between that range. Current price of BTC now is down to $9700, but I know this would not take long and we will come back to $10K again, that's based on the previous trends this month, so hopefully when it come back again, it will come back strong and will once again trade at around $12K-$13K. All we can do now is just hope the recovery of bitcoin will continue and will give us a good price by the end of the year. Am also bullish on bitcoin, no matter the current market price now. To tell the truth I see it hitting a fresh All Time High this year. Am optimistic about this and having check predictions from experts, I believe this to be true. This is quite ambitious, but still can be true! Will see! Technically, based on the analysis of chart patterns, we can achieve an all-time-high this year. Everything depends on how powerful and steep an upwards trend is going to be. |
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7
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 30, 2019, 09:45:09 AM
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Currently the bitcoin market is bearish and we do not know how long this could continue, it is wise to get out of the market at this point and hedge in usdt or any other reliable fiat. I hate to trade at such conditions, we may get as low as $7500 at this trend
No, we will likely to see over $10K again, my observation says that when bitcoin drop below $10K, it did not continue to drop, instead, it's going back to $10K again. More likely what we are witnessing now is not a bearish movement but just a normal price fluctuation between that range. Current price of BTC now is down to $9700, but I know this would not take long and we will come back to $10K again, that's based on the previous trends this month, so hopefully when it come back again, it will come back strong and will once again trade at around $12K-$13K. All we can do now is just hope the recovery of bitcoin will continue and will give us a good price by the end of the year. This can be the good time to make some buy order while bitcoin is below $10k. The pattern for some days shows that the price move up and down around $10k. Soon maybe it will back to hit $10k again which for sure can benefit us if we bought now. Current price is $9590. I agree with your opinion. Bitcoin has found a strong support level at $9,000, and the buying pressure is rising. Also, I saw on Bloomberg recently that the GTI Vera Band Indicator has sent a strong signal that the Bitcoin price may surge above $12,000 soon. Also, there are lots of signals pointing that the recession for the US may be just around the corner - from the US-China trade war to Brexit uncertainty and other indicators. And while investors are fleeing from equities, some of the financial flows will be allocated to Bitcoin, driving its price further upwards. I recommend to buy Bitcoin at $9,500, and place a Stop-loss at $9,000 and a Take-profit at $11,000. |
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8
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 30, 2019, 09:44:46 AM
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Currently the bitcoin market is bearish and we do not know how long this could continue, it is wise to get out of the market at this point and hedge in usdt or any other reliable fiat. I hate to trade at such conditions, we may get as low as $7500 at this trend
No, we will likely to see over $10K again, my observation says that when bitcoin drop below $10K, it did not continue to drop, instead, it's going back to $10K again. More likely what we are witnessing now is not a bearish movement but just a normal price fluctuation between that range. Current price of BTC now is down to $9700, but I know this would not take long and we will come back to $10K again, that's based on the previous trends this month, so hopefully when it come back again, it will come back strong and will once again trade at around $12K-$13K. All we can do now is just hope the recovery of bitcoin will continue and will give us a good price by the end of the year. Absolutely agree. Both the analysis of technical indicators and the fundamental outlook indicate a buy signal for Bitcoin. In particular, the Bollinger Bands Indicator is moving sideways, and the price is floating near the lower bound. This indicates the probability of a short-term price appreciation for Bitcoin is much higher, versus the continuation of a decline. The triangle, we’re seeing on the daily timeframe is a continuation chart pattern, which indicates the price is going to continue to move in the direction of an upward trend. |
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9
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 30, 2019, 09:44:31 AM
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Currently the bitcoin market is bearish and we do not know how long this could continue, it is wise to get out of the market at this point and hedge in usdt or any other reliable fiat. I hate to trade at such conditions, we may get as low as $7500 at this trend
Despite the fact that the Bitcoin price has broken down through the support at $10,000 and is moving downwards, the technical outlook for Bitcoin seems to be quite positive and there is a good opportunity to buy for short-term traders. The more significant support is located at $9,000 and is not broken yet. There is no basis yet to conclude the the market will continue to decline. The potential for a short-term upside retracement remains high, and there is an opportunity now to enter long with a tight stop-loss at $9,000 and a take-profit at $11,000 - the next significant resistance. In this deal, the risk/reward ratio is very attractive - 1:4. |
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 28, 2019, 08:14:31 AM
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Any time that bitcoin market price is declining the next this you should do is to buy at that cheaper price and hold till when the its price appreciate again and in doing that you will make profit and at the same time you will help the market bounce back to its fullest height.
Good point on the take profit at 12.5K. There is a lot of resistance at 13K, so it is a good idea to take profit before it hits it, but with the way the trend is going, if it reaches past 12K again in the near future, I think it will explode towards 15K. |
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11
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 28, 2019, 08:13:50 AM
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The OP is almost one month back.
Till that a lot of things has happened.
Bitcoin keeps on fluctuating.
So the reason for BTC declining is low market cap or trading volume.
So in order to withstand it, or in simple words when BTC will rise? The answer is when the trading volume will be more.
Hope this helps.
Yes you are on spot, bitcoin is now in great vibes and the market is pretty bullish. I believe that Bitcoin will continue to rise higher and higher till it hit the all-time high value. In addition, there has been good deal of speculation in the crypto due to the hike in its value and this is the reason it is getting pushed up. Bitcoin halving is another reason to invest in Bitcoin. It is always a good strategy to average down if the price keeps dropping. I am still remaining bullish on Bitcoin, and I think it has a lot of potential. I am staying bullish on the long term. (edited) |
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12
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 28, 2019, 08:13:12 AM
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What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.
You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September. I think we need to be prepared if the price is down again, we can get another solution to prevent the losses. The market still unpredictable until now and it is difficult to know where the price wants to go, but with preparation, we don't have to worry if somehow the price moves to the other way that we don't predict. We could still take the benefits from the price direction and if the price increase, we could also make another benefit by selling bitcoin at a high price. It is always good to have a plan about your Bitcoin investments, but if you feel that way, then placing intraday trades may be better for you if you are skeptical on Bitcoin reaching 20k +. |
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13
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 27, 2019, 12:20:44 PM
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What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.
You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September. Of course analysis can only go so far, but I do think this Bitcoin “futures” situation will be something to keep an eye on. There will either be a pump or a huge drop. |
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 27, 2019, 12:20:15 PM
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What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.
Good thought, but there are always people betting against the market to make a quick buck. The shorts are getting the better of Bitcoin at the moment |
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 27, 2019, 12:19:32 PM
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The OP is almost one month back.
Till that a lot of things has happened.
Bitcoin keeps on fluctuating.
So the reason for BTC declining is low market cap or trading volume.
So in order to withstand it, or in simple words when BTC will rise? The answer is when the trading volume will be more.
Hope this helps.
Trading volumes play a huge role and of course the news plays an even bigger role. When the Bitcoin “futures” will be available, we should see some heavy movement in the price. Also, the halving will be coming soonish. |
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16
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 27, 2019, 12:19:12 PM
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Nice analogy and explanation, hope bitcoin keep increasing now. Meanwhile I am focusing on buying ripple with bitcoin. Ripple is currently at dirt cheap price, amongst the top 10 coins that I keep buying and selling, ripple and bnb are my top most choices. Sure XRP is cheap, but it hasn’t really proven itself. It also broke past its key support recently and is now struggling to get over .30. The only good news about Ripple at the moment is that it has partnered up with MoneyGram recently. Unless I see more evidence of it increasing, I remain skeptical. There you go, all done with the comments! I think that the struggle is not about the coin itself but altcoins as a total. Neither altcoin can reach far in price, they all struggle in levels that were far below their tops. Ripple does good deals, but if altcoins won't grow in price no one of them is going to hit a high level by its own. I totally agree. Beyond Bitcoin, a lot of the cryptos are just tradable currencies with nothing backing them or supporting them. If they don’t increase there fundamentals, it would be hard to say if they will be relevant in the future. |
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 27, 2019, 12:18:35 PM
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What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.
You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September. I think we need to be prepared if the price is down again, we can get another solution to prevent the losses. The market still unpredictable until now and it is difficult to know where the price wants to go, but with preparation, we don't have to worry if somehow the price moves to the other way that we don't predict. We could still take the benefits from the price direction and if the price increase, we could also make another benefit by selling bitcoin at a high price. I am still bullish on Bitcoin but right now is a bit of a lul. We should start seeing some movement closer to the halving and also when the Bitcoin “futures” will be released. |
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 21, 2019, 02:53:48 PM
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Nice analogy and explanation, hope bitcoin keep increasing now. Meanwhile I am focusing on buying ripple with bitcoin. Ripple is currently at dirt cheap price, amongst the top 10 coins that I keep buying and selling, ripple and bnb are my top most choices. Sure XRP is cheap, but it hasn’t really proven itself. It also broke past its key support recently and is now struggling to get over .30. The only good news about Ripple at the moment is that it has partnered up with MoneyGram recently. Unless I see more evidence of it increasing, I remain skeptical. |
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Economy / Trading Discussion / Re: Why Bitcoin is Declining? And What’s Next?
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on: August 21, 2019, 02:53:22 PM
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I think what will happen next is the dominance will fall for bitcoin because all money went in there and people are slowly realizing there is not much money can be made from bitcoin so they gonna move that to either usdt which will drop the price (happening as of right now) and then there will be some that will move their money to altcoins which will make the real difference because then we will have altcoins going up a ton and that is where the real money comes in.
Even 1% of bitcoin moving to some coin would make it go insanely high and earn you easily x2-x3 of your investment. That is what people forgot, it takes a lot to move bitcoin but as soon as that money starts to pour into other altcoins it will be super easy to move that money and then people will use that money to fuel more bitcoin and it will repeat itself until its unsustainable.
I don’t think that is the case because Bitcoin is starting to be recognized by more financial institutions and even today it was announced that the NYSEs parent company “International Exchange” will start allowing futures contracts to be paid in Bitcoin. And the news from New Zealand stating that they will now allow employers to pay their employees with Bitcoin if they wanted is also great news. It just goes to show that Bitcoin is probably here to stay, but it has to decrease it’s volatility in order for it to be widely accepted. |
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