Bitcoin to go below 4000$ on Feb 20

[Jet Cash]

My thread on the "W" pattern got some really interesting replies - https://bitcointalk.org/index.php?topic=2915275.0

So far it looks as if the discussions are still relevant. The summary seems to be that the Bitcoin price will continue to slip a bit over the next couple of weeks, and then we could see an fresh bull run to lift prices much higher.

[lifetimebitcoins]

My thread on the "W" pattern got some really interesting replies - https://bitcointalk.org/index.php?topic=2915275.0

So far it looks as if the discussions are still relevant. The summary seems to be that the Bitcoin price will continue to slip a bit over the next couple of weeks, and then we could see an fresh bull run to lift prices much higher.

That's is what people are expecting but they cannot digest when Bitcoin price is kept reducing the market. We have to accept both the positive and negative news about the Bitcoin because without downwards it is not possible to increase it's value even higher.

[slaman29]

Excuse me for being blind or something, but your red support line doesn't even touch on the second period... move that line up and you are nowhere near $4k. Not saying it's impossible for Bitcoin to lose more than 50% of today's price in a week, just saying your chart is weak and flawed. Besides, haven't you learned that you can't chart on such a narrow time period? Bitcoin is volatile, and doesn't fit into current market patterns.

Personally, it's been like this price up and down for weeks now, I really can't see any significant drop or rise, not to the value of 50% so soon anyway.

[teilwalL05]

Excuse me for being blind or something, but your red support line doesn't even touch on the second period... move that line up and you are nowhere near $4k. Not saying it's impossible for Bitcoin to lose more than 50% of today's price in a week, just saying your chart is weak and flawed. Besides, haven't you learned that you can't chart on such a narrow time period? Bitcoin is volatile, and doesn't fit into current market patterns.

Personally, it's been like this price up and down for weeks now, I really can't see any significant drop or rise, not to the value of 50% so soon anyway.

It is really impossible for bitcoin to drop below the 50% of it's current price and right now we are at the $8,592.76 USD, It may drop but not that far, Or it may go up but it will sure reach a certain point were we can see the recent All Time High again, And can even go beyond that up to the $100,000 mark, I hope OP is not spreading another FUD because it is not really great for the market to have these kind of nonsense that doesn't really have a solid evidence.

[Jet Cash]

I hope OP is not spreading another FUD because it is not really great for the market to have these kind of nonsense that doesn't really have a solid evidence.

It's great for me. I want to acquire, and I don't want to sell.

[marcbitcoins]

The continuing decline where Bitcoin goes to deeper and deeper levels is very clear. If the pattern continues, the next bottom will be on February 20 where it will drop below 4000. Continuing, then the next bounce will only reach up to around 7000, followed by an even deeper drop.....

 I think Bitcoin already reach the lowest which is $6,000 due to corrections. If you will say that the source of your data was from the hands of the big whales that you just stole it from them then maybe i will believe you but i think you are making a fake conclusion to create another FUD so that you could buy cheaper bitcoin because you missed the lowest price before then good luck because only the weak hands will believe to your fake news.

[Semaj123]

I strongly disagree with the author. own bad news and negativity, out of the blue, interfere with the growth! There is no reason now to go even below 7500. on the contrary now we need to punch 10, and to gain a foothold, soon we are waiting for the reversal. We need more positive news, and we'll grow.)

Yeah, creating negative speculations can only cause trouble to btc community. I support your thoughts and we must spread positive speculations about btc not that showing charts than can only make worries to us crypto supporters. Instead we must believe that btc will sooner be going up and will be back to its track.

[phabit2]

I strongly disagree with the author. own bad news and negativity, out of the blue, interfere with the growth! There is no reason now to go even below 7500. on the contrary now we need to punch 10, and to gain a foothold, soon we are waiting for the reversal. We need more positive news, and we'll grow.)

Yeah, creating negative speculations can only cause trouble to btc community. I support your thoughts and we must spread positive speculations about btc not that showing charts than can only make worries to us crypto supporters. Instead we must believe that btc will sooner be going up and will be back to its track.

I really hope Bitcoin isn't so weak that it's price can be influenced by 1 negative forum post. 

By the same token, posting loads of positive speculation isn't going to affect the price either.

Incidentally, I don't agree with the OP's analysis, however it seems as valid as other random graphs I've seen recently that say we are going to the moon.

[bitcad4u]

The continuing decline where Bitcoin goes to deeper and deeper levels is very clear. If the pattern continues, the next bottom will be on February 20 where it will drop below 4000. Continuing, then the next bounce will only reach up to around 7000, followed by an even deeper drop.....

I don't think bitcoin reach back to 4000$ and all.Now the price of bitcoin is around 8500$,due you think the price will raise back to half of the current price.After the Chinese  New year the price of bitcoin will reduce due to the selling in china,but it will not reach 4000$ and all.

[dobladi]

The continuing decline where Bitcoin goes to deeper and deeper levels is very clear. If the pattern continues, the next bottom will be on February 20 where it will drop below 4000. Continuing, then the next bounce will only reach up to around 7000, followed by an even deeper drop.....

I highly doubt of the possibility of this scenario. Indeed, market crashed recently which made its market value to be downed for approximately 48%. But the thing here is that, it is now starting to recover which is something to look forward on the following days for Bitcoin. So I think this is just impossible.

[alyssa85]

Some investment banks are desperate for bitcoin to drop further. Here is JP Morgan again, warning that the crash might not be over:

http://www.businessinsider.com/bitcoin-price-jpmorgan-warns-theres-a-highly-fair-risk-the-bitcoin-sell-off-isnt-over-2018-2?IR=T

I think their desperation means the price will either stay where it is, or rise to $10,000.

[fulmetal08larz]

Technical analysis of those who thinks they're expert in trading is not 100% applicable with btc. Over the years, it proves that it is anti-fragile and anything that doesn't kill it only makes it stronger. If it goes down $4k or below, it is definitely a good sign to buy more btc now than in the future.

[shinjunobi09]

Here we go again with those negativity that is never going to end if you want to quit mate then quit stop complaining that you did not gaining something from cryptocurrency, instead of focusing on the negativity focus on the bright side release you what if's, and start focusing on what is because what you is something you should value the most.

[laluna24]

Here we go again with those negativity that is never going to end if you want to quit mate then quit stop complaining that you did not gaining something from cryptocurrency, instead of focusing on the negativity focus on the bright side release you what if's, and start focusing on what is because what you is something you should value the most.

Those fudsters spreading negativity exactly will lead to bitcoin price makes go down. So many speculation but I dont think it will go below to that price. Although, bitcoin is on a rally track today because of the price keeps on climbing yet not happening. In the upcoming months for sure bitcoin will rise again.

[hazukison]

I love how you completely ignore the peaks between January. Clear signs you're a fucking idiot. Bet you visit the church every Sunday too shouting PRAISE THE LORD! BUY BITCOOOONNNNNECCCKKKKKKKTTTTT.

[spadormie]

There are many forecasts saying that bitcoin might drop at 4,000 usd but it is not so good for it to drop below 4k. That would be devastating to all. I believe that many people will take bitcoin as a fraud and will dump all their tokens.

[f150]

Here we go again with those negativity that is never going to end if you want to quit mate then quit stop complaining that you did not gaining something from cryptocurrency, instead of focusing on the negativity focus on the bright side release you what if's, and start focusing on what is because what you is something you should value the most.

Those fudsters spreading negativity exactly will lead to bitcoin price makes go down. So many speculation but I dont think it will go below to that price. Although, bitcoin is on a rally track today because of the price keeps on climbing yet not happening. In the upcoming months for sure bitcoin will rise again.

I agree with you, negative thinking will only make bitcoin decrease. because it makes the bitcoin users afraid of the loss if until they buy it, but not all bitcoin users think like that. this is an opportunity to buy bitcoin for those who think positive, because they already know the price of bitcoin is not stable.

[Naficopa]

There are so many opinions that the price of bitcoin will drop below 4k $. Of course, there is a possibility that the price may fall to this level. These types of speculations have a negative impact on the market and are not necessarily effective.

[Idrisu]

The continuing decline where Bitcoin goes to deeper and deeper levels is very clear. If the pattern continues, the next bottom will be on February 20 where it will drop below 4000. Continuing, then the next bounce will only reach up to around 7000, followed by an even deeper drop.....

I have been trading for quite some time now and I did not understand how you come about adding numbers days to a chart patterns but not that I am disputing your intelligence but come out to say specifically that bitcoin is going to fell bellow $4,000 on twenty is what really surprised me.  Bitcoin has done very well and we should appreciate the current progress it has made for the past few days and not what we are thinking will happen that may bring bitcoin down completely.

[BCTBF]

There are so many opinions that the price of bitcoin will drop below 4k $. Of course, there is a possibility that the price may fall to this level. These types of speculations have a negative impact on the market and are not necessarily effective.

This kind of speculation I think will not adversely affect the market, it's good to make this in case but I've seen a lot of barriers between 5K-6K in all markets and this has become a market tradition. Crypto market value can't be easy to drop if there is no bad news for crypto and now there is a lot of good news that has bitcoin.