If $3381 doesn't hold, may go to $2500

[aeternus]

It may go to 2500 USD?  Yes please!  It's a gift!  Didn't most of you wish to have bought Bitcoin at under 3000 USD?  Well it's coming.  Get all that fiat ready and place your buy orders quick.

GL everyone. 

This is the right attitude but one that not many people exhibit, many people say they want bitcoin to be cheap to buy again but when given the opportunity they choose not to do it because they are afraid that bitcoin will go even lower so as you can see those people are never going to invest in bitcoin for real because they do not really believe in bitcoin.

[arpon11]

Disclaimer: I own no bitcoin and am not trying to scare the bejesus out of anybody who does or doesn't.

This image is my analysis on an xe.com screenshot of the last 1 year of XBT as USD:


Raw armchair analysis here - the takeaway is that the current bitcoin value of $3381 is a key point of support, if broken thorough the next point of support is $2500.  The green lines show some volatility in 2016/2017,  Feb-July 2017 in yellow lines shows increased volatility with a peak in June when there was some negative news to take the shine off Bitcoin temporarily, but really April to September in blue lines have seen 3x the variability of early 2017.

Looks like the volume has been dropping off recently - previously the volume increased with price (suggesting lots of agreement between buyers and sellers on price), but the price has come down and so has volume - suggests the buyers/sellers are having difficulties with the current price.  Buyers may be thinking the price will go lower, sellers may be thinking this is just a dip.

I think the next 48 hours are going to be pretty telling.

Good luck to all!

Technically bitcoin is seriously fighting to remain above $4,000 and there a lot of force using governments and medias to bring it's bellow that level. We only need few positive news to keep bitcoin growing from the attacked it has had recently from people like Jamie Dimon and others people of the same mind.

[NUFCrichard]

I don't think we will get too close to $3381 in the next week or so.
The price is treading water at the moment, $4000 seems to be the ceiling, with only occasional moves about it.  $3650 now could easily be $4000 again later today with the crazy swings we have been seeing over the last months.

I expect a fall, but not yet.

[Barcode_]

In my opinion, I felt the Chinese are just trying to manipulate the market by trying to create a lot of negative news and spreading it around to create panic selling among traders, they have already done that quite a number of times in the past. My advice for everyone is just ignore all the news releasing from China recently, and hold all your bitcoins and altcoins in your wallet, it will surely rise to another high record, patience is a virtue.

[mozillaspez]

I don't think we will get too close to $3381 in the next week or so.
The price is treading water at the moment, $4000 seems to be the ceiling, with only occasional moves about it.  $3650 now could easily be $4000 again later today with the crazy swings we have been seeing over the last months.

I expect a fall, but not yet.

As you talking about previous week it was just an accident and wrong understanding in simple words we can say that mis understanding of investors therefore it came down now it is rising once again and going upward.

[Idrisu]

I am seeing the same thing and I hope to see us back in bullish momentum. We may not get back to $2,500 but if the bad news from China keep creating panic we may get below $3000. Currently the price is recovering from the last bearish market we have witnessed and I seriously hope that September 30th will be positive and I expect Chinese regulatory agency to change their minds.