BTC price will keep moving downwards along with MA5

[AICoin_Official]

Lower shadow on daily chart is swallowed because of the selling on dips at 7 am. BTC is expected to rally because of the strong support, it turns out that bears seize the very moment and initiate a precise strike at a key time point, making it extremely difficult for bulls to fight back.

Though price witnesses a minor rally on daily chart, volumes, however, remain low, indicating that bullish momentum will stay weak though price is near the strong support.



Also, weak rally means downtrend will dominate price action and price will move downwards along with MA5.

As marked on daily chart, every time BTC bounces without an expansion in volumes, it will keep dipping after that, making it wise to be cautious when price bounces under MA 5.

For long-term traders, positions can be set up from now.

Original by Kuang Ren, translated by AICoin Jami.

Full version: https://www.aicoin.net.cn/article/18795.html

[Kronos21]

Another forecast that does not matter. It seems to me that people still have not realized that the forecasts on the cryptocurrency market do not work. It's amazing to me that someone believes them. For example, I am sure that bitcoin is now at the lowest level. Now we are at the foot of the mountain which very soon will show the price chart.

[grimesrhymes]

Another forecast that does not matter. It seems to me that people still have not realized that the forecasts on the cryptocurrency market do not work. It's amazing to me that someone believes them. For example, I am sure that bitcoin is now at the lowest level. Now we are at the foot of the mountain which very soon will show the price chart.

And what is your forecast based on? Some people like to use graphs to reach their conclusions and others like to go off of intuition. The reality of it is that no one knows with absolute certainty what is going to happen with the price in the future. We might go below 6k in the next month or we might be back above 10k.

[airdagon]

in my opinion this downward movement is not a big deal. yes we know that now the price of btc continues to move down, because of issues that happened to btc lately. users who have great minds will be able to take advantage of the current situation, they will soon create a new strategy for long-term investment.

[northcoin2018]

in my opinion this downward movement is not a big deal. yes we know that now the price of btc continues to move down, because of issues that happened to btc lately. users who have great minds will be able to take advantage of the current situation, they will soon create a new strategy for long-term investment.

You are right, with the banning of some countries on cryptocurrencies plus the media block in many internet platforms this has really affected the current situation of the bitcoin value..tsk tsk tsk...They are really putting down the cryptocurrencies so that they can continue to rule over populous and continue their greedy schemes.

[timerland]

Markets are stagnating right now. The main reason that we are not seeing a bull market is that every time the recovery comes, it doesn't take the price anywhere. It doesn't break any resistance and that severely affects the confidence of the market. Of course, this is to be expected considering that we haven't seen a major pump since January, and that was just a recovery back up to $10k from a huge dump.

We are going to see some support at the $7000 level, but if that breaks, we are pretty much in free fall.

I doubt that we're going to see any sort of bullishness until much later on in the year, or even next year altogether when bitcoin has already bottomed. Although bearish right now, I'm still quite bullish long term and I will personally be buying some BTC during this bear market.

[Reatim]

The only thing that worth noted on his prediction is For long-term traders, positions can be set up from now.

Of course this is another perfect opportunity to buy it a cheap price and hold on it for long term. As for the downfall, we still have strong support at $7500-$7K so I don't think that we will continue to slide moving forward.

But obviously if it breaks then another golden opportunity. So let's look at the bright side of this bearish trend and hope that the bulls will take over around the start of Q2.

[1Referee]

Technical analysis holds value until the speculation bulldozer starts running again, and then technical analysis becomes worthless. We are experiencing exactly what we did last year, but then vice versa. Technical analysis told people that $5000 would be the top, then $7000, then $10,000 for sure, etc, but it was all empty speculation - the price peaked at nearly $20,000 last year.

This reverse bull run is trolling people hard in the same way, and might continue doing so for plenty of more months, till the actual bottom has been reached. Best would be to not expect anything, not expect from levels that they will be supported, because that will likely not happen anyway, etc. These times however are great for people looking to accumulate coins from paycheck to paycheck, because every month that passes, the same amount of fiat they allocate to buy Bitcoin with will buy them more coins with how the price keeps going down. If $7200 gets broken through, sub $7000 is almost a guarantee, where my next target will be in the range of $6500. In other words, these times are interesting for everyone waiting to enter as cheap as possible.

[darkangelosme]

Nah don't be afraid on what's happening on bitcoin right now dude. Take it as an opportunity to invest more on it okay  .

[carlisle1]

Another forecast that does not matter. It seems to me that people still have not realized that the forecasts on the cryptocurrency market do not work. It's amazing to me that someone believes them. For example, I am sure that bitcoin is now at the lowest level. Now we are at the foot of the mountain which very soon will show the price chart.

for me its better thay theres some forecast to give boost peoples morale that supoorts their coins.imagine if we are all just silent and no bodys giving speculations or forecast what will happen to this forum?what will be the basis of investing if theres no one reacting in every matters that affects cryptocurrency?just let them enjoy what they believe can help,and do your own things mate,this is the etiquette of being in crypto

[cryptocrusher]

Given that one days movement is 1/5th of the MA5 it seems very unlikely that the price and the MA5 would ever be moving in vastly opposite directions. Any strong rises will pull the MA5 up with it and the opposite for falls. Long term positions can and should be opened at any price under $8k. Even worst case scenario this dip shouldn't take us beyond $4k and it should be a fairly swift rise back to this level if that does happen with a lot of smart money taking the opportunity to invest in very under-priced bitcoin.