bitcoin is going down - it will stop at 7600 BTC/USD or 4700 level. Vote!

[Vazil]

Hello dear bitcoin BTC lovers)

Here are my projections of the levels when bitcoins downtrend will stop. What is your opinion?
 Participate in the poll HERE or/and on Twitter! Look at the chart: https://twitter.com/Ganzastation/status/959380321333665792 (re-twit for more audience engagement)


+++ to the karma those of you who give me some merit =)



I based my price projection 7600 BTC/USD on 2 theories:

1) We are now seeing the second (correction) wave (counting from the beginning of bitcoin).
2) The usual level when 2nd correction wave stops is 0,382% Fibonacci level (from 0 to 20000 in our case). So this level = about 7600 BTC/USD


But, because the first correction wave from 20 000 to 10 900 was so great, it is also possible that we will see some flat at the level 7600, followed by a slow increase to 10 000, and then we will see the final gap to the level of about 4700 BTC/USD. After that the 3rd great increase wave will be starting that bring the price much more above 20 000 btc/usd.

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[Kramblerty]

The price of 5000 will be good for purchase 

[bitfocus]

the lower the better for investors like us.

[Vazil]

the lower the better for investors like us.

agree     Pls put your vote too + retweet on twitter)

[jsoodan]

6700

[fabioganga]

I voted the lowest option because I am convinced that there is an evil design to try to lower the price and speculate.

It's a bloodbath at the moment, with a clear intention to profit afterwards.

Have no fear and hodl.

[Vazil]

I voted the lowest option because I am convinced that there is an evil design to try to lower the price and speculate.

It's a bloodbath at the moment, with a clear intention to profit afterwards.

Have no fear and hodl.

maybe you are right about an evil design )

[ukjames007]

well im in the uk and see a drop of £1500 today to £5500

[Vazil]

well im in the uk and see a drop of £1500 today to £5500

GBP, EUR, AUD, etc. no matter - all they are counted to USD prior to being counted to BTC (and visa verse) in the long-term view.

[Vazil]

6700

6700 btc/USD  ? why do you think so?

[coinycoiny]

$2K is more likely

[Jashhh]

You're taking a huge loss when selling. You should sell when price is high.

[Vazil]

$2K is more likely

I believe that If the price goes below $4700 then the next level of support is not $2000, but about $1520 (2x times dipper than the first down impulse from 20k to 10 900)

[yuusuhuru]

People investing for a long time do not seem to be panicked. But watching the value go down is painful.

[Vazil]

You're taking a huge loss when selling. You should sell when price is high.

We see now how opened (long) positions on futures and positions of marginal traders are closing due to margin calls)) 

[Sammylezzy]

Bitcoin is really falling down and the price is not interesting at all you can only by at this rate not advisable to sell for now

[Dapper]

Both are just random numbers.

[fraenky]

Whatever, i dont want to buy new bitcoins so i dont care how deep bitcoin will fall now, better start a poll about when we will see a new all time high  

[fenican]

I suspect it will trace all the way to about $1500. When bubbles form in BTC, it always ends badly but the good news is once we bottom out a few months from now that sets the stage for the push to $50,000. The crux of the problem right now is there isn't enough money out there, not by a long shot, to cash out all the holders who want to realize a $100B market capitalization. I'm guessing $5B of new money, tops, pushed BTC from $1000 to $20000 - since that's just a price quotation based on balance between buyers and sellers, and can easily be manipulated, but when people actually try to sell their gains for fiat that's where the rubber hits the road and no buyers show up willing to put in $100B to cash them out. Where we're at now -- freefalling.

[Fileiro]

I voted 4700 because the 20 month exponential moving average sits at 4963,71 today.