New Fibonacci pattern identified - awesome analysis - next crash at $8000

[GrandpasNaked]

Is bitcoins next crash gonna be circa $8000?
The bitcoin Sequence, based on the Fibonacci sequence has identified a possible pattern.
Great video or link to article bersion below it

https://youtu.be/dCyDrCx4Em0

Written version and now popular blog post:
https://medium.com/@BitcoinTradingLab/the-bitcoin-sequence-is-bitcoins-next-crash-at-8-000-d547c6c9d64?source=linkShare-e001246aaf25-1509033603

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[xFiber]

I'm always sceptical when it comes to technical analysis on a bitcoin chart. The reasoning behind this being the fact that our brain thinks in patterns. So often we would believe we've seen a pattern while  in reality there was none. That's why I'd prefer fundamental analysis over technical analysis on a cryptocurrency chart. We might see another crash at 8000$, we'll never know for sure. Time will tell.

[Jating]

I'm always sceptical when it comes to technical analysis on a bitcoin chart. The reasoning behind this being the fact that our brain thinks in patterns. So often we would believe we've seen a pattern while  in reality there was none. That's why I'd prefer fundamental analysis over technical analysis on a cryptocurrency chart. We might see another crash at 8000$, we'll never know for sure. Time will tell.

For me, technical analysis doesn't work on bitcoin price movement because its purely based on speculation. That's why I found a lot of TA in the past failed so I guess there's no TA that can fit how the price movement of bitcoin is. Until we have truly crossed that price we can't never really tell it. With that said, we can't never really tell it or predict the price based on TA alone, maybe we need another form of analysis that will worked in conjunction with it so at least make the a 'good' prediction.

[Denker]

I'm always sceptical when it comes to technical analysis on a bitcoin chart. The reasoning behind this being the fact that our brain thinks in patterns. So often we would believe we've seen a pattern while  in reality there was none. That's why I'd prefer fundamental analysis over technical analysis on a cryptocurrency chart. We might see another crash at 8000$, we'll never know for sure. Time will tell.

For me, technical analysis doesn't work on bitcoin price movement because its purely based on speculation. That's why I found a lot of TA in the past failed so I guess there's no TA that can fit how the price movement of bitcoin is. Until we have truly crossed that price we can't never really tell it. With that said, we can't never really tell it or predict the price based on TA alone, maybe we need another form of analysis that will worked in conjunction with it so at least make the a 'good' prediction.

Well I think it depends on your trading style. For me it works pretty well to be honest.
But I'm of a reactive trader and don't make any predictions.
I just let the the chart do whatever it wants to do, read it's history, and then just react in certain situations where it fits my trading set up.

[BitcoinNewsMagazine]

Is bitcoins next crash gonna be circa $8000?
The bitcoin Sequence, based on the Fibonacci sequence has identified a possible pattern.
Great video or link to article bersion below it

https://youtu.be/dCyDrCx4Em0

Written version and now popular blog post:
https://medium.com/@BitcoinTradingLab/the-bitcoin-sequence-is-bitcoins-next-crash-at-8-000-d547c6c9d64?source=linkShare-e001246aaf25-1509033603

Fibonacci extensions can be very helpful to set profit targets. First you take a look at a monthly chart to get long term targets. The extensions are drawn from the previous ATH to the $152 low:



Next long term resistance level is $7079. This is major resistance. Should it be taken out we can get another target from the weekly chart of $8200:



Considering the bull market is over two years old and we have a hard fork coming up in two weeks consider taking some profits from now to $7000 if we get there. Bitcoin price could crash to the weekly 20 MA (now at $3900) if traders head for the exits.

[joinfree]

Well if we see bitcoin at $8000 it would be incredible for a lot of people. I am going to sell my bitcoins at $7500 because i would get a good number if i sell all of them at that rate.
But if it touches $8000, a lot of people will start to sell their bitcoins because it would mean that it has increased a lot, and so many people would be scared of that.
Anyway, i will sell mines once that it reachs less than that price, so i am quiet.

[JMAHH]

it reached more than 6,3k dollars today, it was a huge increase in just a few hours, i remember that a few hours ago before i went to sleep the price was below 5,7k dollars because of the last dump from the Indonesia government about the regulations about bitcoins and ico's.
But it looks like if bitcoin is always going to recover from everything, i mean, it made more than a 8% in just a day, isnt it amazing?