Are we waiting for a bearish bomb?

[dothebeats]

In the current state of matters, there aren't anything (really) that could spell a bullish move or any form of incentive for the traders to keep on buying. Add to that factor, the recent bombardment of negative news which discouraged new money to buy in even though the price is really dirt cheap and inviting. The previous bullish moves, IMO, were just bear traps and just waiting for the right time to be triggered in order to suck in more money from the weak hands. Well it was successful, and even though the selling pressure keeps on pouring on, a strong $7000 support is already in line in several exchanges waiting to receive the blows anytime.

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[figmentofmyass]

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors?

we've had some bullish news recently. lightning labs just launched their beta on mainnet! also, coinbase is expanding into the UK after just receiving a license there. poloniex is expanding into asia and circle just released a new crypto investment app available in 46 US states. and billionaire hedge fund manager alan howard (and other partners at the firm) have disclosed sizeable personal investments in crypto and he says he plans to invest more.

it's just that the news isn't effective right now. buyers are scared, the hype has faded, and sellers have remained in control of the market. so it goes.

Though we can expect a strong support at former low at $6K.

maybe. personally i think this consolidation has lasted too long (and volume too high) for a simple retest of the lows. i think if price returns to $6000, there will be an attempt to make a double bottom. but afterwards i would expect much, much lower.

[BitHodler]

Though we can expect a strong support at former low at $6K.

maybe. personally i think this consolidation has lasted too long (and volume too high) for a simple retest of the lows. i think if price returns to $6000, there will be an attempt to make a double bottom. but afterwards i would expect much, much lower.

If the previous bottom breaks, much lower levels are pretty much guaranteed. It would mean that we for the first time in years have gone lower than the previous bottom, which would indicate much and much lower levels.

I am not the only one adding value to the previous bottoms, and for that reason expect a flash crash caused by whales unloading their coins right at the moment we dip even a few bucks below the precious bottom.

I however don't believe we will fall below the $6000 mark. I rather see a strong longer term consolidation pattern form above the $8000 mark, than having the market go up while in reality even a small bump isn't sustainable.

[Saidmod]

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors? Though we can expect a strong support at former low at $6K.

The current news now are about fuds that bitcoin cn dump as low as $2k+ forget the exact so be it. And to my on Technical analysis we are heading to drop below 8k tomorrow. Now im just watching and leaving after got some answer based on my own speculations.

[timerland]

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors? Though we can expect a strong support at former low at $6K.

The bearish bomb has already exploded. We went from $12k to $8k and we're currently building a bottom at $8k.

This bear market may be over but I don't think it is going to be much more bullish than this, until some major positive news around bitcoin is built. So for now, expect prices to hang around $8k, potentially sometimes going under to around $7k.

The support at $6k as you mentioned will be extremely strong, just like last time.

In fact, we probably won't reach that stage. Lowest I can see this go is $7k or so which would be the lowest level I can see for the entire year. But, if that is broken, and $6k doesn't hold up which is unlikely, we may see further adjustments down to $5k or so.

[amwer]

Tom Lee, an analyst at Wall Street firm Fundstrat and known to be a bitcoin bull, stated that the price of bitcoin will likely drop to a yearly low before recording a swift recovery.
“When sentiment is this weak, the market is increasingly ’fire, ready, aim’ — meaning, any headline today is likely to trigger selling,” wrote Lee, who emphasized that the next support level is $7,535, followed by $5,873. Given that the $8,370 support level has been breached, Lee explained that it is possible bitcoin could fall to $7,535, and make its way down to $5,873 before recovering to its previous levels.

[traderethereum]

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors? Though we can expect a strong support at former low at $6K.

I am waiting for the price reach $6k and I hope that is the lowest price of bitcoin and after that, the price will increase higher although it could not reach $12k, I think the price could reach $9k first and stay at that level for a while. and after everything is ready, then the price will rally and reach the another highest price. although we don't know when this will happen, we could wait the time come.

[Caelanpelley]

It is hard to guess in this situation. If a bomb falls on a bitcoin it would be bad! One is that many will lose. The second is to create opportunities for many speculators to buy cheap to later sell at high prices. Success depends on your bravery, bravery and self determination. Believe bitcoin will bounce back.

[AICoin_Official]

$6k is possible but it is unlikely as price has already tested that low before when there was lots of panic on market but right now many new investors are jumping in thinking this as an golden opportunity to make an entry.

I know market is bearish but I am quite optimistic about next surge which might last till end of 2018 just like in 2017.

I am not sure whether new investors are rushing into the market.

[AICoin_Official]

Is it likely? Give it a few days.

I guess you are also waiting for the deep dip just like me, right?

[AICoin_Official]

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors? Though we can expect a strong support at former low at $6K.

If there will not bad news for cryptocurrencies, Bitcoin can reach 20,000 again. It's a bit hard to probable what would happen with technical analysis in cryptos. Cryptocurrencies will be good if the governments, big companies let it work. But in these days we should get good cryptos to make a more profit in the future, because it is the best thing for now.

Btc might never reach 20,000 USD again.Times are changing.The banksters and their loyal government servants will never let the cryptocurrency industry to thrive.They will play the "crypto is too risky,don`t buy it" propaganda and scare all the new investors away.I don`t agree with OP`s theory about a "bearish bomb".The crypto market is still too manipulated by outside factors,and we can`t talk about "bulls" and "bears".We are all "bulls",but we can`t push the price up.

Can't agree more, indeed, we are all bulls, though some of us may go short sometimes, overall, we still expect the price to climb as high as possible.

[lablab03]

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors? Though we can expect a strong support at former low at $6K.

for me the price already gained strong support at 7k. And i think it will never go 6k on this time. 'cause it seems the potential of price now showing tends to increase even though it keeps struggling on this moment.
 

[Slow death]

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors?

without good news the price will remain between these $7000 to $12000, even when the price was  $ 1000 they were between  $1000 to $600, then we went to  $3000 to $5000 that was the same case, then the price simply only rose to $20,000. if we have good news in the future the price will go back to the $20,000. something that I noticed in these last 3 months is that in the exchange where I make trade the volume of all crypto has dropped a lot, is as if did not have money coming in.

Though we can expect a strong support at former low at $6K.

I sincerely hope it does not fall below $6000

[el kaka22]

Is it likely? Give it a few days.

Well, few days, hours, minutes and iin all time is all we need to know anyway. I am still not very sure how this market wants to play out, but anything at this stage is possible and I would not be surprised if the $6k is what we have coming. Honestly, I would not really mind anyway to see us test that $6k once and for all, as this is all I need for my life right now. Bearish position is not my worry, my worry is not having money to buy in that position, but as long as I have some fiats available right now, I am looking out for a good bounce.

Bearish bomb already provided enough disasters. It would not be a atom bomb if it is $6k, it would just be a test of that support and I hope we get a lock and reload from there as we see the market going back up. I really do not want to imagine what the drop lower is going to be like, as that would be a crazy one to witness, but anything is possible. However it comes though, it is just a matter of time.

[Inkdatar]

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors? Though we can expect a strong support at former low at $6K.

for me the price already gained strong support at 7k. And i think it will never go 6k on this time. 'cause it seems the potential of price now showing tends to increase even though it keeps struggling on this moment.
 

Yes even it is struggling at this moment bitcoin can survive at the end for sure. Price claims at a lower rate this time it will slowly recovering maybe this mid year. In this Bearish moment we should be patient and calm in this market.

[target]

Damn it. I regret not dumping all the tokens I got when it goes up last December not I'm seeing it all down. I have dumped the rest already even if its almost not gaining much. I think a $1000 profit still is a good thing to still dump.  The best thing to do this time I guess. The BTC I got was also cash out into USD before its to late. Those who manipulate can manipulate all they want but I'm out already so once it start to go up to $10K again, I think this will be the time to buy again. But right now, it could go below $4K or maybe $2K, which is a good thing to buy back too.

[francis2]

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors? Though we can expect a strong support at former low at $6K.

Right now is very difficult to predict what is going to happen we could reach that price but it is possible that we go even lower, there is not much hype around bitcoin or cryptocurrencies right now and most of the feelings I am getting is that people are very pessimistic and negative about the short term future.

[mike4001]

The price firmly fixed at the level of 8300 dollars. I'm sure it's the bottom. You can sell all your coins but it will be your biggest stupidity.

lol