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Author Topic: Will BTC break below the former low at $6,000  (Read 148 times)
AICoin_Official
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March 15, 2018, 01:11:28 PM
 #1

As you can see, BTC surges a few hours ago with considerable volumes, does it mean BTC will stop dipping?

See the full-version analysis by Kuang Ren:

Price continues slumping after consolidation, now it has declined by more than 20% from $10,000 to around $7,000, which arouses panic among investors with such a fast rate.

In addition, bearish views from some celebrities almost drive panic chips out.

Take a look at the hourly chart:



The range that price has been moving in is broken with expanding volumes, which can be referred to as an effective breakout.

According to our selling rules for breakout, the first window to dump your chips comes when price breaks below the range, if you miss it, you can also clear your positions when price moves back to the lower end of the range.

Meanwhile, the slump during last session opens the door for next round of downtrend, which makes it effective to sell your holdings every time price moves back to MA 5, investors without any stock can still wait with patience, being cautious and conservative is highly recommended.

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michkima
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March 15, 2018, 01:44:15 PM
 #2

If the trustees of the Mt. Gox confiscated funds try to sell a shit ton of bitcoins again, I will  not be surprised if the price drops back again to those lows. However, I am very optimistic that once they run out of bitcoins to sell then the price would likely shoot back up since there won't be any more pressure to the demand for bitcoins. But, I believe they have not even sold half of the bitcoins they have so we might still see a bumpy ride for the whole year.
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March 15, 2018, 02:26:01 PM
 #3

If the trustees of the Mt. Gox confiscated funds try to sell a shit ton of bitcoins again, I will  not be surprised if the price drops back again to those lows. However, I am very optimistic that once they run out of bitcoins to sell then the price would likely shoot back up since there won't be any more pressure to the demand for bitcoins. But, I believe they have not even sold half of the bitcoins they have so we might still see a bumpy ride for the whole year.

The trustee is done selling for now, it's not yet been decided what will happen to the rest of the coins. So for at least the next 4 months or so we do not need to worry about that situation.

Futures contracts ended yesterday and many speculate that the price will always be dumped prior to that happening as people aim to get a better closing price. There's been a slight recovery from 7700 so far, let's see if that trend can continue in the coming days.

The main concern now is that the news from the g20 summit is still looming over us, I am of the belief that the market will respond positively even to negative news because expectations are always worse than reality.

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March 15, 2018, 02:34:34 PM
 #4

As you can see, BTC surges a few hours ago with considerable volumes, does it mean BTC will stop dipping?

See the full-version analysis by Kuang Ren:

Price continues slumping after consolidation, now it has declined by more than 20% from $10,000 to around $7,000, which arouses panic among investors with such a fast rate.

In addition, bearish views from some celebrities almost drive panic chips out.

Take a look at the hourly chart:



The range that price has been moving in is broken with expanding volumes, which can be referred to as an effective breakout.

According to our selling rules for breakout, the first window to dump your chips comes when price breaks below the range, if you miss it, you can also clear your positions when price moves back to the lower end of the range.

Meanwhile, the slump during last session opens the door for next round of downtrend, which makes it effective to sell your holdings every time price moves back to MA 5, investors without any stock can still wait with patience, being cautious and conservative is highly recommended.

There's a possibility but let's just hope that it won't because surely, it will be hard for Bitcoin to recover given that thearket is so volatile. Whatever happen, continue investing and holding Bitcoin to avoid making this scenario worse. Again, this thing is normal. We should rather see the best thing out of every downfall  than the negative things about a product. think of it as an opportunity to invest and earn.

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EveryThingIsOkaY
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March 15, 2018, 02:37:11 PM
 #5

In my mind, everything will be okay, because this is BTC and it will be good
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March 15, 2018, 02:46:14 PM
 #6

BTC will recover because the market isn't stabilize. We will not know what happen. I hope the price will increase than $6000. Keep calm and wait.
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March 15, 2018, 06:37:56 PM
 #7

If the trustees of the Mt. Gox confiscated funds try to sell a shit ton of bitcoins again, I will  not be surprised if the price drops back again to those lows. However, I am very optimistic that once they run out of bitcoins to sell then the price would likely shoot back up since there won't be any more pressure to the demand for bitcoins. But, I believe they have not even sold half of the bitcoins they have so we might still see a bumpy ride for the whole year.

The trustee is done selling for now, it's not yet been decided what will happen to the rest of the coins. So for at least the next 4 months or so we do not need to worry about that situation.

Futures contracts ended yesterday and many speculate that the price will always be dumped prior to that happening as people aim to get a better closing price. There's been a slight recovery from 7700 so far, let's see if that trend can continue in the coming days.

The main concern now is that the news from the g20 summit is still looming over us, I am of the belief that the market will respond positively even to negative news because expectations are always worse than reality.

Im not sure about that. There was some japanese guy on twitter, tweeting in japanese so some things may have been lost in translation, but bottomline is that they could be selling at any time, even if some news said that it was frozen until september, this guy say something like "it is independent from that, the trustee can still sell" or something along the lines.

Hoenstly I think it is crazy that they haven't officially gone OTC yet. Kraken should ban the guy's account.
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March 15, 2018, 11:56:40 PM
 #8

If btc broke $6000, for sure a lot of panic sellers would immediately sell all their coins without hesitation thinking that their loss is already great, while the whales who are waiting for the opportunity would chomp all of their sell orders gladly. While the scenario could happen, I can't see it occurring sooner given that there are already major supports standing @ $7800 and $7500, with the hard support @ $7000. If there would be a series of negative news all over, together with the Gox trustee that silently dumped coins, then $6000 may be lurking just around the corner.

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March 16, 2018, 12:02:24 AM
 #9

This panic sells when one of the big investors to get a big profit, because when there is panic selling and price down put together when investors are buying more bitcoin, we better resist so as not to lose our bitcoin.

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cryptocrusher
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March 16, 2018, 05:00:37 PM
 #10

If the trustees of the Mt. Gox confiscated funds try to sell a shit ton of bitcoins again, I will  not be surprised if the price drops back again to those lows. However, I am very optimistic that once they run out of bitcoins to sell then the price would likely shoot back up since there won't be any more pressure to the demand for bitcoins. But, I believe they have not even sold half of the bitcoins they have so we might still see a bumpy ride for the whole year.

The trustee is done selling for now, it's not yet been decided what will happen to the rest of the coins. So for at least the next 4 months or so we do not need to worry about that situation.

Futures contracts ended yesterday and many speculate that the price will always be dumped prior to that happening as people aim to get a better closing price. There's been a slight recovery from 7700 so far, let's see if that trend can continue in the coming days.

The main concern now is that the news from the g20 summit is still looming over us, I am of the belief that the market will respond positively even to negative news because expectations are always worse than reality.

Im not sure about that. There was some japanese guy on twitter, tweeting in japanese so some things may have been lost in translation, but bottomline is that they could be selling at any time, even if some news said that it was frozen until september, this guy say something like "it is independent from that, the trustee can still sell" or something along the lines.

Hoenstly I think it is crazy that they haven't officially gone OTC yet. Kraken should ban the guy's account.

We can never really know for sure because even if there's no mandate, those funds are not locked in any way so could be moved and sold at any time. On what grounds could Kraken ban him? He would only move to one of their competitors and then they'd be losing out on huge revenue returns.

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March 16, 2018, 05:12:02 PM
 #11

Kraken is a European stock exchange. They allow for the withdrawal of Fiat only for EU residents. What Japanese can trade there? It is a fake. But I think the Manager will no longer sell bitcoins in such volumes. This of course his right but I am sure that creditors will not approve of such actions and remove him from property management.
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March 16, 2018, 05:16:35 PM
 #12

If there's a pump it doesn't mean the price will continue to grow 'cause there's always a dump and in fact its part of the volatility of price which up and down attitude of growth rate in the market.  So if there's a dump just relax and continue holding make some technical analysis and don't make a stupid decisions  to prevent regrets.  And perhaps the price now has no tends to go down more 'cause as we see the growth rate is keep increasing on this moment.
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March 16, 2018, 06:01:00 PM
 #13

Hopefully it does not man. If it does - all hell will break loose. Goddamn. Whats bad is that it might actually do it and go below 6000 dollars tho.

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Tankdestroyer
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March 17, 2018, 04:08:26 AM
 #14

Hopefully it does not man. If it does - all hell will break loose. Goddamn. Whats bad is that it might actually do it and go below 6000 dollars tho.
I don't think all hell will break lose if that does happen. Instead, everyone would get their fiat ready(specially whales) to buy up bitcoin for sale since it is a very good opportunity to hoard more bitcoin. Too bad the trustee stopped selling btc for now but I still think it can break the 6000$ former low in the near future, I think all that is happening now is not over yet and we are still not seeing the recovery phase.
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March 17, 2018, 04:09:58 AM
 #15

Nobody knows what would gonna happen in the future, But my opinion. Probably it won't gonna break 7k.
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March 17, 2018, 05:35:09 AM
 #16

I do not know, obviously if until the price touches the figure $ 6k the situation will get worse and there will be a lot of panic. IMO it would not be possible, as many cryptocurrency experts predict that prices will go to the moon. nobody knows when the price is going to the moon, and that's obvious it will happen in the year 2018. actually the thread you made this could just make people panic, because in it contains elements that smell negative and indirectly you have assumed something will happen , before it happens.
we'll see the future will be how, because this is just a prediction.
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March 17, 2018, 05:41:51 AM
 #17

anything can happen in the world of cryptocurrency to go to $ 6000 but I hope it will not happen,
if indeed the price of btc to under $ 6000 I think there will be panic and the investors will take a lot of profit by buying bitcoin,
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March 17, 2018, 06:59:06 AM
 #18

I do not know, obviously if until the price touches the figure $ 6k the situation will get worse and there will be a lot of panic. IMO it would not be possible, as many cryptocurrency experts predict that prices will go to the moon. nobody knows when the price is going to the moon, and that's obvious it will happen in the year 2018. actually the thread you made this could just make people panic, because in it contains elements that smell negative and indirectly you have assumed something will happen , before it happens.
we'll see the future will be how, because this is just a prediction.

There are support levels at $7600 and at $7000, but I'm sure that this can easily broken if there's just one negative news that will ripple throughout the market. Everyone is very fragile, causing domino effect and panic ensures. Yesterday, I thought that we are going to bounce back around $9000 already as the price gets a good boost from the Lightning Network news however, it's not that strong as it didn't hold and we are back again hovering $8000. Its really hard to see how the price moved, so even a price of $6000 or lower is possible, IMHO.

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March 17, 2018, 08:22:01 AM
 #19

Probably not, it can only hit $6000s again and it seems it is going to do it. There is really no buy pressure, no one wants to buy bitcoin now  Cheesy

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March 18, 2018, 04:07:07 PM
 #20

Probably not, it can only hit $6000s again and it seems it is going to do it. There is really no buy pressure, no one wants to buy bitcoin now  Cheesy
you are wrong, exactly with this situation there will be many investors who buy, why? because they know, that this situation will provide benefits in the future. as I said in the previous thread, that the price will soon reach its peak. we all also know that the market will soon improve its performance. Every cloud has a silver lining!
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