Downward trend after 1/26/18 CME expiration?

[lopez cryptomania]

Well you guys and gals many predicted that we would shoot up on the 26th, well I'm still waiting and I checked a few minutes ago and BTC is now in the $10k range... I'm starting to think we'll continue down in this bear trend to around $8-$9k and then many will buy in there and end all this lolly gagin around, come on BTC let's go to the moon already! Any educated opinions on why we haven't shot up yet? And are we gonna experience a bigger pullback than 50%?

[pooya87]

there is no "bear trend" to want to continue.
it is just sideways for the time being with some newbies being flushed out of the market handing over their money to the rest of us.

and there is this thing called "bottom" which is also known as buy support which is practically a resistance in the opposite direction. and that is at $10000 as it was proven multiple times already.

[Enjel]

Give it a little time. It won't just shoot up automatically.

We have pretty much reached the bottom at $9000, as many predicted.

Good news is on the horizon - lower fees, no Korea ban are very very important.

[DaMut]

What do you mean by 'let's go to the moon already' ?

Let's make some raw calculation and simple math about Bitcoin movement for the past few months and year.
in January,2017 Bitcoin price at that time was around $700~$800.
and when 2017 closing in it hit $14,000 (more or less than that).
that mean the price was increasing a lot from $700~800 to around $14,000 in a single year.
based on that movement we could see that Bitcoin gained 2000% increase in term of value.
do not you think it's mooning if we're comparing it to its value when we're at that date/time and we're now at this date/time ?

About pullback for more or around 50% in the future ? Nobody know about it yet,
but,it's possible for us to witness it because it gained a lot from before.
Pressure = Push.
when we got the pump,we should be expected a dump that will come later on.

[player514]

Well you guys and gals many predicted that we would shoot up on the 26th, well I'm still waiting and I checked a few minutes ago and BTC is now in the $10k range... I'm starting to think we'll continue down in this bear trend to around $8-$9k and then many will buy in there and end all this lolly gagin around, come on BTC let's go to the moon already! Any educated opinions on why we haven't shot up yet? And are we gonna experience a bigger pullback than 50%?

I really haven't seen a lot of people put hard predictions on the specific date January 26th, and I don't think I've seen many people say that anything's going up any time soon. In fact, I've seen more posts about how slow Bitcoin will be in January/February based on last year's trends.

Regardless, I think if you ever see bitcoin dropping, just pick some more up. If you really do believe that BTC will go to the moon, you should purchase while you have the chance. It's the investors that make the prices go up, so if you wait around outside of the circle, it's pretty hypocritical of you to want to see upward momentum.

[arpon11]

Well you guys and gals many predicted that we would shoot up on the 26th, well I'm still waiting and I checked a few minutes ago and BTC is now in the $10k range... I'm starting to think we'll continue down in this bear trend to around $8-$9k and then many will buy in there and end all this lolly gagin around, come on BTC let's go to the moon already! Any educated opinions on why we haven't shot up yet? And are we gonna experience a bigger pullback than 50%?

We should expect market reactions during cme expiration, the fall was expected and I can see it is a little one and not very serious. However, bitcoin has started recovery from that yesterday dip and it is currently above $11,000 as at this morning. I think we should expect another dip on 30th as another event like this formal will still and from there bitcoin will start to make another significant progress and recovery.

[jadenunderhill]

And what are CME prices for February or March?

[stompix]

And what are CME prices for February or March?

FEB 2018  10875   
MAR 2018   10885
http://www.cmegroup.com/trading/equity-index/us-index/bitcoin.html

[jjacob]

And what are CME prices for February or March?

FEB 2018  10875   
MAR 2018   10885
http://www.cmegroup.com/trading/equity-index/us-index/bitcoin.html

Hmm... This implies the market isn't really enthused about the prospects of Bitcoin right now. Less than a month back, we had people buying call options at $50,000 with expiry in 1 year. Now, the futures are trading real flat. Those who wrote those call options a month back will be very satisfied with themselves.

[iram1011]

That CME futures expiration wasn't a massive event. Yeah, it did impact the price as people were manipulating the market to get more profit from shorting their $20K contracts. But the major manipulation is being done by Wall Street who just started shorting recently, many of the pro traders understood BTC had fallen to the bearish phase and also 80% of bitcoin has been already mined. By manipulating the price, they are making panic sellers sell their holdings.

Keep HODLing! This is intentional manipulation. Price will boost easily near feb end and March.

[bryant.coleman]

The volumes were not that high in CME and therefore the expiration of the contracts only had a limited impact on the prices. But still, it would be wrong to say that it didn't had any impact. Because until 26th, the prices were largely stable in the $11,000 to $12,000 per coin range. But after the expiry, the exchange rates slipped by almost 10%, to around $10,500 per coin.

[raven7886]

Well you guys and gals many predicted that we would shoot up on the 26th, well I'm still waiting and I checked a few minutes ago and BTC is now in the $10k range... I'm starting to think we'll continue down in this bear trend to around $8-$9k and then many will buy in there and end all this lolly gagin around, come on BTC let's go to the moon already! Any educated opinions on why we haven't shot up yet? And are we gonna experience a bigger pullback than 50%?

Probably this is the right time to buy back. I am not seeing any reasons for prices to fall down more and we can expect to prices to bounce back from current levels at any time. Hence, buying right now is highly recommended in order to avoid disappointments for those who are all willing not to miss out comparatively cheaper prices for bitcoins.

Prices may or may not test $9,500 levels but definitely we can say it will not break $9000 levels as per the volumes in most major exchanges. If there will be no more negative news from any countries then we can see bitcoin prices will be restoring their forms back into action.

[cryptocrusher]

The volumes were not that high in CME and therefore the expiration of the contracts only had a limited impact on the prices. But still, it would be wrong to say that it didn't had any impact. Because until 26th, the prices were largely stable in the $11,000 to $12,000 per coin range. But after the expiry, the exchange rates slipped by almost 10%, to around $10,500 per coin.

Was that anything to do with CME futures though, was it not attributable to the CoinCheck hack? That seems far more likely to me. I don't in fact see too many strong arguments one way or the other as to why the expiry of futures should influence price.

[BrewMaster]

it seems like bitcoin has created bad expectations in some people. they expect it to continuously give them profit by constantly going up.

i hate to shatter your dreams but that is not a healthy market. a healthy market needs to drop after a rise and consolidate a little before doing anything else.
and at the same time a drop doesn't mean it is the end of bitcoin, and it certainly doesn't mean it will continue to drop just because it dropped for a while!

[Maveth13]

Well you guys and gals many predicted that we would shoot up on the 26th

It was actually predicted to go down... But as expected, it didn't have an effect. CME limitations make it useless and unprofitable for anyone or any group to try and manipulate the market.

come on BTC let's go to the moon already!

Any educated opinions

Seeing these set of words together is just weird.

[Barbarian]

Well you guys and gals many predicted that we would shoot up on the 26th, well I'm still waiting and I checked a few minutes ago and BTC is now in the $10k range... I'm starting to think we'll continue down in this bear trend to around $8-$9k and then many will buy in there and end all this lolly gagin around, come on BTC let's go to the moon already! Any educated opinions on why we haven't shot up yet? And are we gonna experience a bigger pullback than 50%?

Things are going to remain this way for some time, there is no bear market but there is not bull market either this is just one of the moments in bitcoin where not much happens, people panic and see a drop of 10% in the price, that could be significant in other markets but in bitcoin that is nothing.

[Tankdestroyer]

Well you guys and gals many predicted that we would shoot up on the 26th, well I'm still waiting and I checked a few minutes ago and BTC is now in the $10k range... I'm starting to think we'll continue down in this bear trend to around $8-$9k and then many will buy in there and end all this lolly gagin around, come on BTC let's go to the moon already! Any educated opinions on why we haven't shot up yet? And are we gonna experience a bigger pullback than 50%?

The reason why btc price haven't shot up to the moon is because people thends to hold now and changes would only happen after CAME expires. For sure it will dump for a while but it will go up in price again. I also expect that after CME expiration, fees will significantly go down and transactions might be faster than ever. Still, it needs to be faster and better after that to be able to accommodate more investors.

[DustyRah]

The trend is away from the Bollinger band which means its not going to drop steeply any further. Divergence is going back to 0 and above indicating a strong possibility that price will rise. Other supporting indicators include MACD going to head over EXP, this same is indicated by the CCI which is going to go into positive territory. BTC has consolidated quite a bit. Buy now while its cheap!

[Wind_FURY]

there is no "bear trend" to want to continue.
it is just sideways for the time being with some newbies being flushed out of the market handing over their money to the rest of us.

Just sideways? Did we not see Bitcoin lose 50% of its value from its all time high? If many of you don't believe that it is a sign that this bull run is over, then we might now be in the "denial stage" of the market cycle.

and there is this thing called "bottom" which is also known as buy support which is practically a resistance in the opposite direction. and that is at $10000 as it was proven multiple times already.

I agree, but how low is the bottom supposed to be? No one knows. Although everyone is welcome to guess by drawing all those lines in the chart and call it "analysis".

[lopez cryptomania]

The trend is away from the Bollinger band which means its not going to drop steeply any further. Divergence is going back to 0 and above indicating a strong possibility that price will rise. Other supporting indicators include MACD going to head over EXP, this same is indicated by the CCI which is going to go into positive territory. BTC has consolidated quite a bit. Buy now while its cheap!

Killer chart, thanks for sharing and I agree it is going to go back up after this Bank/Wall Street manipulation.