Bitcoin. Now it's all about the buyers

[ICEXch]

Bitcoin. Now it's all about the buyers. A look towards $ 15,500 and $ 17,500

So, yesterday's pre-Christmas sale of cryptocurrencies made a strong impression on cryptocurrencies' fans  and their opponents. What now?
On the chart, we see a breakdown of a growing trend at record volumes.
True, the bulls still have a chance, if there is a quick return to the level of $ 19,000 by today or tomorrow and the closing of the week without the decline of the rate. However, it does not seem that any of them want to take this chance ...
So it looks like it is at best a transition to the outset.
The key level-indicator of whether it is the outset or the fall is $ 15,500. (Mid-fall and resistance level + slow moving average on the daily chart)
The buyers must overcome this level to cool the sellers. Overcoming the $17500 mark will completely cancel the bearish game.
However, If the bulls behave the way they do now, then the next bearish impulse has a settlement target of exactly $ 8000

Recommendation: close longs at take-offs to $ 15,500. Wait for the best prices for buying.

The charts are available on our Facebook — https://www.facebook.com/ICEX.CH/
#icex #bitcoin #cryptocurrencies #investment #exchange #news #Analysis

[Pursuer]

I doubt the recovery back to $19000 can be that quick! within only 24-48 hours!

and it usually is not that quick either. it takes some time and at least a couple of days of downtime when whales accumulate more, the FUD fades away and panic stops. all this takes time.
for example if you check last time price dropped this much, you can see it took about 3 days to come back up to normal level and the it was followed by about a 7 day accumulation where price didn't move much and then it shoot up to the new ATH.

[HongKong]

Bitcoin. Now it's all about the buyers. A look towards $ 15,500 and $ 17,500

So, yesterday's pre-Christmas sale of cryptocurrencies made a strong impression on cryptocurrencies' fans  and their opponents. What now?
On the chart, we see a breakdown of a growing trend at record volumes.
True, the bulls still have a chance, if there is a quick return to the level of $ 19,000 by today or tomorrow and the closing of the week without the decline of the rate. However, it does not seem that any of them want to take this chance ...
So it looks like it is at best a transition to the outset.
The key level-indicator of whether it is the outset or the fall is $ 15,500. (Mid-fall and resistance level + slow moving average on the daily chart)
The buyers must overcome this level to cool the sellers. Overcoming the $17500 mark will completely cancel the bearish game.
However, If the bulls behave the way they do now, then the next bearish impulse has a settlement target of exactly $ 8000

Recommendation: close longs at take-offs to $ 15,500. Wait for the best prices for buying.

The charts are available on our Facebook — https://www.facebook.com/ICEX.CH/
#icex #bitcoin #cryptocurrencies #investment #exchange #news #Analysis

I am going to have to agree with you on this. Well...the $17,000 part. If it goes back to that price then there will be a bunch of people trying to push the coin up again.

[Juzion]

Any price prediction for end of 2018?

[Juzion]

BTC $19000 is it possible on 20 - 24 hours it is now $14500, i think not!

[Munz77]

The whales and institutions are idiots. They would have collected more coins if they had organised the correction at Christmas. Nearly everyone invested in Btc would be able to watch the market, more people to panic sell the bottom.

[Juzion]

Bitcoin. Now it's all about the buyers. A look towards $ 15,500 and $ 17,500

So, yesterday's pre-Christmas sale of cryptocurrencies made a strong impression on cryptocurrencies' fans  and their opponents. What now?
On the chart, we see a breakdown of a growing trend at record volumes.
True, the bulls still have a chance, if there is a quick return to the level of $ 19,000 by today or tomorrow and the closing of the week without the decline of the rate. However, it does not seem that any of them want to take this chance ...
So it looks like it is at best a transition to the outset.
The key level-indicator of whether it is the outset or the fall is $ 15,500. (Mid-fall and resistance level + slow moving average on the daily chart)
The buyers must overcome this level to cool the sellers. Overcoming the $17500 mark will completely cancel the bearish game.
However, If the bulls behave the way they do now, then the next bearish impulse has a settlement target of exactly $ 8000

Recommendation: close longs at take-offs to $ 15,500. Wait for the best prices for buying.

The charts are available on our Facebook — https://www.facebook.com/ICEX.CH/
#icex #bitcoin #cryptocurrencies #investment #exchange #news #Analysis

I am going to have to agree with you on this. Well...the $17,000 part. If it goes back to that price then there will be a bunch of people trying to push the coin up again.

I think $17000 is too hard today

[Jet Cash]

The whales and institutions are idiots. They would have collected more coins if they had organised the correction at Christmas. Nearly everyone invested in Btc would be able to watch the market, more people to panic sell the bottom.

But their primary motivation is to create their own coins. Bitcoin is peanuts in comparison to their potential gains from this.

[talkbitcoin]

The whales and institutions are idiots. They would have collected more coins if they had organised the correction at Christmas. Nearly everyone invested in Btc would be able to watch the market, more people to panic sell the bottom.

it depends on your point of view actually!
more people to watch means more people to buy bitcoin when they see a big drop too. and that will also create more of a resistance, some kind of prevention for going lower.
the less people means thinner orderbook, less orders to be placed to create that prevention and an easier way to manipulate the price.

[chickenado]

Bitcoin. Now it's all about the buyers. A look towards $ 15,500 and $ 17,500

So, yesterday's pre-Christmas sale of cryptocurrencies made a strong impression on cryptocurrencies' fans  and their opponents. What now?
On the chart, we see a breakdown of a growing trend at record volumes.
True, the bulls still have a chance, if there is a quick return to the level of $ 19,000 by today or tomorrow and the closing of the week without the decline of the rate. However, it does not seem that any of them want to take this chance ...
So it looks like it is at best a transition to the outset.
The key level-indicator of whether it is the outset or the fall is $ 15,500. (Mid-fall and resistance level + slow moving average on the daily chart)
The buyers must overcome this level to cool the sellers. Overcoming the $17500 mark will completely cancel the bearish game.
However, If the bulls behave the way they do now, then the next bearish impulse has a settlement target of exactly $ 8000

Recommendation: close longs at take-offs to $ 15,500. Wait for the best prices for buying.

The charts are available on our Facebook — https://www.facebook.com/ICEX.CH/
#icex #bitcoin #cryptocurrencies #investment #exchange #news #Analysis

I think now is the perfect time for buyers because  the dip was too much and i could see that it cant recover by the end of this year to reach $20k..but still those are just my predictions anything could happen, it would rise up again or would continue to fall anytime.If investors would take advantage of the price drops most probably it has a chance that it would pump again.Thought everyone is monitoring on the market cap that cause every investors to panic in this dip.

[Wilhelm]

20k this year is unlikely but still possible

[machinek20]

Yes but this time bitcoin need more time to recover, the market is bit messy, due to the a lot of investors choosing different coin to invest or to use, so its going to need more time for bitcoin to gain its momentum, we need to see how the market react after Christmas, hopefully its going to be bullish trend

[Slow death]

However, If the bulls behave the way they do now, then the next bearish impulse has a settlement target of exactly $ 8000

Speaking at $ 8000, today I was reading the news as I do every day, and I see this news: Michael Novogratz: “Bitcoin May Dip to $8K” — Puts Crypto-Hedge Fund on Hiatus

What caught my attention in this news was the following:

Former Fortress Macro Trader Michael Novogratz Once Believed Bitcoin Would Reach $40K by the End of 2018

Okay, he made a very optimistic prediction and now that he had this price drop he says he's on hiatus because the price could fall to  $8000? So where's the optimism?

Bitcoin markets have seen a bearish decline, and the dip seems to be depressing some of the most prominent proponents. Michael Novogratz has been a staunch believer in bitcoin and other cryptocurrencies for quite some time, and back in September, he announced he was creating a digital asset hedge fund. At the time Novogratz said he would build a $500 million dollar hedge fund by initially investing $150M of his own funds. The financial luminary explained the fund would invest in specific cryptocurrencies as well as initial coin offerings.

So it seems that he wants the price to fall so that he can buy cheaper, the worst of it all is that he and so many other analysts have some reputation and some people can listen to the analyzes that these people do and this is not a good thing... if the analyst wants to manipulate the market by spreading fear and uncertainty.

[jeanpierre]

20k this year is unlikely but still possible

Yeah I think the same too, it's going to be hard for bitcoin to reach 20 000$ again but it's nearly at 15 000$ right now so nothing is really impossible. I am sure the people at Wall Street are really hungry for bitcoin and the blockchain technology. Maybe they will help push bitcoin to 20 000$ again. It'll be also good if bitcoin just goes sideways for a few days so altcoin can go up a little bit more

[Chandler32]

I totally agree that people need to wait for the best opportunity to buy. When buying, I avoid going all in either.

[YuginKadoya]

20k this year is unlikely but still possible

Yeah I think the same too, it's going to be hard for bitcoin to reach 20 000$ again but it's nearly at 15 000$ right now so nothing is really impossible. I am sure the people at Wall Street are really hungry for bitcoin and the blockchain technology. Maybe they will help push bitcoin to 20 000$ again. It'll be also good if bitcoin just goes sideways for a few days so altcoin can go up a little bit more

When everyone is talking about the next possible value for bitcoin they are all going for $20,000 mark but in my opinion it is not possible at the end of the year it sure will be the next year of January, it is a holiday season and I think it will be crucial to force the price to have a bullish movement, Its gonna be a slow pace going back up, And I am seeing a resistance pumping up for now so let's just chill and wait till next year.

[ashler]

We are still in a bearish market so I prefer to err on the side of caution. Its still possible to hit 8K so I will wait a bit more before buying.

A good insight here

https://www.tradingview.com/chart/BTCUSD/cKx4v4Gl-BTCUSD-50-Correction-Good-Time-To-Think-Long/

[Wilhelm]

We are still in a bearish market so I prefer to err on the side of caution. Its still possible to hit 8K so I will wait a bit more before buying.

A good insight here

https://www.tradingview.com/chart/BTCUSD/cKx4v4Gl-BTCUSD-50-Correction-Good-Time-To-Think-Long/

Good point. A correction like this never comes alone.

Dip
Panic
Relief
Super Dip
BLOOD
Recovery

[DiscretePatriot]

It's always best to not get sucked in by hypers and false fortune tellers lol.

[Wilhelm]

It's always best to not get sucked in by hypers and false fortune tellers lol.

Current sentiment is "MY PRECIOUS!!! MY PRECIOUS!!!"