Another slump, do you buy BTC at the bottom this time?

[AICoin_Official]

As you can see, BTC gets close to $9.5K this afternoon, basically, price is forming lower lows, indicating a bearish picture. In another wrod, it's getting close to 8K, the target price. Share your commnets here about whether BTC will get to 8K in the next few days.

Another original price analysis from Chinese analyst Kuang Ren, feel free to leave your comments:

BTC is still struggling to hold the support at $9,800, whether price can reclaim the inflection point at MA 120 or not depends on the price move in the next few days. Only when price breaks above MA 120 with expanding volumes on daily chart can you add to your positions. Until then, a light position or empty position is recommended.

The bidding orders we saw with expanding volumes around 1 am on 30-minute chart seem insufficient compared with the data on daily chart, indicating that someone is setting up positions. Currently, the best scenario for BTC is to continue oscillating above $10,000 as we’ve seen less and less bidding orders trying to buy at the bottom.

In another word, if BTC dips further, chances are high that lots of chips will be dumped out of panic. Besides, investors will lower their expectations for the bottom price and few of them will dare to buy any chips at that time, which makes it a better way to force the panic chips out if main funds want to complete the process of accumulating chips at bottom price. However, whether price will go as expected or not depends on the market.

The market is up to no one for now, before we see any bullish signs, you can set up a plan to accumulate chips step by step, for example, when price dips below $10,000, you can use 20% of your money to set up positions, if price dips further, you can use the same strategy.

Original by Kuang Ren, translated by AICoin Jami.

Full-version analysis here: https://www.aicoin.net.cn/article/12470.html

[BTCLovingDude]

the sell pressure is too much for now to have any kind of rise in my opinion. it doesn't seem to be coming from normal sources either. i'm afraid we might have a longer downtime than previously anticipated.

[okala]

Many have already started dumping out of panic and we should expect that to happen because most traders and investors are hear just to make profit from bitcoin volatility.
If you look at the way thinks are going and you are a charts experts you will find out that bitcoin can grow again as this pattern has repeated itself several times.

[jackhdt]

bad rumors this time really influence on the psychology of investors
that had never been seen foul rumors about bubbles bitcoin fact working so. many investors are cutting loss in a panic
i also feel dismayed when i holding altcoins,  it tends to follow bitcoin

[1Referee]

the sell pressure is too much for now to have any kind of rise in my opinion. it doesn't seem to be coming from normal sources either. i'm afraid we might have a longer downtime than previously anticipated.

The thing is that without anything bullish events or happenings to focus on, the market gets bored, and if the situation doesn't change, traders either cash out, or move their funds over to the altcoin market. In this case the majority of the altcoins are bleeding too, except for Ethereum. It perfectly shows how the majority of the people involved in this market are purely chasing quick profits. I however can't complain because I am offered the opportunity to buy at these lower levels. THIS is time where you enter the market, and people don't see how much of a fantastic opportunity it is due to their panic and fear. Buying the market down in smaller chunks is the best option as it will allow you to lower your overall buying price.

[worle1bm]

As you can see, BTC gets close to $9.5K this afternoon, basically, price is forming lower lows, indicating a bearish picture. In another wrod, it's getting close to 8K, the target price. Share your commnets here about whether BTC will get to 8K in the next few days.

Another original price analysis from Chinese analyst Kuang Ren, feel free to leave your comments:

BTC is still struggling to hold the support at $9,800, whether price can reclaim the inflection point at MA 120 or not depends on the price move in the next few days. Only when price breaks above MA 120 with expanding volumes on daily chart can you add to your positions. Until then, a light position or empty position is recommended.

The bidding orders we saw with expanding volumes around 1 am on 30-minute chart seem insufficient compared with the data on daily chart, indicating that someone is setting up positions. Currently, the best scenario for BTC is to continue oscillating above $10,000 as we’ve seen less and less bidding orders trying to buy at the bottom.

In another word, if BTC dips further, chances are high that lots of chips will be dumped out of panic. Besides, investors will lower their expectations for the bottom price and few of them will dare to buy any chips at that time, which makes it a better way to force the panic chips out if main funds want to complete the process of accumulating chips at bottom price. However, whether price will go as expected or not depends on the market.

The market is up to no one for now, before we see any bullish signs, you can set up a plan to accumulate chips step by step, for example, when price dips below $10,000, you can use 20% of your money to set up positions, if price dips further, you can use the same strategy.

Original by Kuang Ren, translated by AICoin Jami.

Full-version analysis here: https://www.aicoin.net.cn/article/12470.html

Already many investors and tradres sold their btc out of panic which shows their fear as they only want profits and dont want to suffer loss which is essential part of business.This pattern has repeated many times and each time btc has grown with full potential and reach new heights and all those who grab the oppurtunity at the dip will enjoy benefits and profits in long run.

[lili song]

Yes buy bitcoin this time is great, because the price drop down much and the right time to invest in bitcoin for long term.
At least you much invest 6 month, but when the price up not drop down. My experience in bitcoin invest 6 month can give profit 100%.
Is amazing !

[markj113]

I dont think we'll see 100% gain in 6 months this time around, too much new money coming into bitcoin has been frightened off for good after the plunge from $20k to under $9k.

Where is the additional capital going to come from to drive the price from $9k to $18k within 6 months?

[omonuyak]

Bitcoin has fallen below  $9,000 on some exchange platforms and I think it is still going down.
I think you should wait until there is a stop on this down ward movement in other to be able to buy at the right time. I will wait a bit to see a corollations before buying. I have some fund from those that what to buy through me and I thing now is the best time to watch over.

[aardvark15]

Yes, I think this is a great time to buy. I’m going to wait a little longer to see if I can get a better price, but you will be getting a bargain if you buy now, in my opinion. It may take a few months to see decent profits and the price may even go sideways for a while. But I think by this time next year we will see big gains for Bitcoin and many of the top altcoins as well.

[BUK2016]

This is the best time to invest or buy bitcoin because time will come when one cannot get bitcoin this low. It is a great opportunity for those who are new to crypto currency to be part of the train that is on the motion if only they will utilise this opportunity.

[btcone111]

$8K is indeed a good target price - that's where i am setting my buy orders.

[kimochidesh]

No buying or averaging this time. I am fed up of making average every time. It seems to be an attractive buying price with every low but every time BTC breaks all resistance level. Seller volume is more than buyers standing in the market, so it seems to have no profit in buying at this price. So let us stay calm and wait till the conditions get well again.

[el kaka22]

the sell pressure is too much for now to have any kind of rise in my opinion. it doesn't seem to be coming from normal sources either. i'm afraid we might have a longer downtime than previously anticipated.

Right, sell pressure is high, buy pressure is low, and so what we are obviously going to keep seeing now is a downtrend unless we end up seeing the other side of things happening. I would rather stick to a 2 - 4 hours chart right now for change of trend than 30 minutes chart that the OP stated. I guess we just have to see how long this downtrend is going to be before we see a switch. The market is killing me right now.

Full-version analysis here: https://www.aicoin.net.cn/article/12470.html

Your analysis is good but not one that I can follow right now. Sure, it seems the way things are, the 200 MA is our next line before we hope for a reversal, if it does not come before then and as I am seeing the pressure to sell now, we may actually get to that stage, anything that would make us go lower, then that is going to be pretty bad and I really hope we do not get up to that. I guess we just have to see how long we keep seeing this trend, and 30 minutes chart for bitcoin now, is not going to help.

[tokeweed]

Buy more?  Wtf?  You should be looking for shorting opportunities is what you should do.  And it's all (some altcoins included) looking ripe to short right now.  It's all about trading, what you hold or what your beliefs are don't mean sh*t.  The crypto market is like one big poker game.  It's a zero sum game, always remember that.

[Pursuer]

the answer to the question "do you buy BTC at the bottom this time?" is yes, always. but the problem is also always about "where the hell is this bottom?"
for now nothing is clear if you ask me. all the analysis are good but you can never predict bitcoin with them. at the end of the day price moves more based on emotions than logic. and we are seeing a very good example of it right now. and when that's happening you can't figure out the bottoms and tops,...

[gabmen]

the answer to the question "do you buy BTC at the bottom this time?" is yes, always. but the problem is also always about "where the hell is this bottom?"
for now nothing is clear if you ask me. all the analysis are good but you can never predict bitcoin with them. at the end of the day price moves more based on emotions than logic. and we are seeing a very good example of it right now. and when that's happening you can't figure out the bottoms and tops,...

On point right there. One can't really say he's buying at the bottom. Every hour gives us a new bottom lol. For all we know the bottom could be at 8k so if you have a buy order at 7 or 6k then you miss the chance to buy cheap btcs. On the other hand of it drops to even below 7k you'll be stuck. Probably best to buy in small amounts while closely monitoring the market and also being aware of crypto news

[Pursuer]

the answer to the question "do you buy BTC at the bottom this time?" is yes, always. but the problem is also always about "where the hell is this bottom?"
for now nothing is clear if you ask me. all the analysis are good but you can never predict bitcoin with them. at the end of the day price moves more based on emotions than logic. and we are seeing a very good example of it right now. and when that's happening you can't figure out the bottoms and tops,...

On point right there. One can't really say he's buying at the bottom. Every hour gives us a new bottom lol. For all we know the bottom could be at 8k so if you have a buy order at 7 or 6k then you miss the chance to buy cheap btcs. On the other hand of it drops to even below 7k you'll be stuck. Probably best to buy in small amounts while closely monitoring the market and also being aware of crypto news

that's right. there is in fact a solution for this too. if you believe bitcoin will recover in a month or two for example, then what you can do to catch these bottoms is to place buy orders ahead of time on lower price levels. for example place 4 buy orders in $7000-$8000 range. and if you did that yesterday you could have had at least 2 of them filled and current price is $8900 so you could also make a quick profit too.

although that requires an initial prediction of near future recovery which is going to be the only hard part of it. in long term it will recovery surely but we don't know how many weeks or probably months that long term is.

[Kevin77]

Many have already started dumping out of panic and we should expect that to happen because most traders and investors are hear just to make profit from bitcoin volatility.
If you look at the way thinks are going and you are a charts experts you will find out that bitcoin can grow again as this pattern has repeated itself several times.

Everyone knows history will always repeat itself and anyone dumping out of panic right now is just plainly stupid after waiting this long and did not sell at the top to make profit and would prefer losses instead.

This is not why we are here anyway, as we all know the market will recover definitely one way or the other, but how long the downtrend and how far it gets is what no one can really say and from the chart, it does not even seem in any way that we have a chance of trend reversal anytime soon. I will buy at the bottom, but until I see a very clear sign. It seems some groups just want to see this trend for now.

[trickyriky]

As I had already BTC coins in my wallet, I simply did not do anything when I was that the market was falling. My cousin bought some Bitcoins.