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Author Topic: Overall view of why April is crucial for crypto  (Read 188 times)
JungleOnion
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March 28, 2018, 05:31:52 PM
 #1

https://steemit.com/bitcoin/@jungleonion/bitcoin-price-always-interesting

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March 28, 2018, 05:37:40 PM
 #2

Reading up on the link. One thing that do puzzles me on which regarding to this question.

What do you think the snake will do? Haha

I don't even know on whats the next move.


Checking out with those image it is really a good technical analysis specially on death cross but I don't see we would really end up early.We might able to form base on those technical aspects but I do believe on bitcoins capability.

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March 28, 2018, 05:58:57 PM
 #3


What do you think the snake will do? Haha


Had me chuckling too. I think so many people are putting an emphasis on a potential death cross signaling a large decrease in price that it will definitely happen if the cross forms. Not because it's a good signal, but because it is acting as a self fulfilling prophecy. People are watching it so intently and treating it almost as gospel. The biggest thing to realize in any free market is the price is not decided by signals but by actions. If on the cross everyone was told that it's a great buying opportunity and signals an uptrend then what do you think would happen?

It's much like the chicken and the egg debate, in this case I'm fairly sure the chicken comes first (I choose chicken because it will resemble the actions people take when that cross forms)

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March 28, 2018, 06:33:18 PM
 #4

Yeah I think the self-fulfilling prophecy is a reflection of human psychology. Not everyone is waiting to act on the death cross, some already did, some won't and some will once those EMAs touch. Charting is pretty subjective even if there is objective "rules" such as the death cross. There's always doubt and disagreement and that fuels up volatility and in turn helps establish what outcome really is the one that's going to win.

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March 29, 2018, 03:51:27 AM
 #5

yeah the week chart looks like price is just starting to fall. It sucks because I'm at a loss since 10,000 and I don't seem to understand how to cover losses instead of letting everything keep falling and falling. I thought 9,000 was already pushing it, then 8,000 and just when it seems 8,000 is already holding properly, 7,000 is going to come in no time so it's always hard to accept and figure out what prices are key levels to actually take a decision.

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March 29, 2018, 05:20:38 AM
 #6

Yeah I think the self-fulfilling prophecy is a reflection of human psychology. Not everyone is waiting to act on the death cross, some already did, some won't and some will once those EMAs touch. Charting is pretty subjective even if there is objective "rules" such as the death cross. There's always doubt and disagreement and that fuels up volatility and in turn helps establish what outcome really is the one that's going to win.
But if everybody has the same Fibonacci levels or same resistance and support levels then it really does become a self-fulfilling prophecy. Troubles happens when people use a ton of different indicators, and project the future in a multitude of ways, in that regard nobody agrees on anything.

I especially liked the part about the bears, bull, bears and horses OP nice drawings Grin.

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March 29, 2018, 07:22:48 PM
 #7

Yeah I think the self-fulfilling prophecy is a reflection of human psychology. Not everyone is waiting to act on the death cross, some already did, some won't and some will once those EMAs touch. Charting is pretty subjective even if there is objective "rules" such as the death cross. There's always doubt and disagreement and that fuels up volatility and in turn helps establish what outcome really is the one that's going to win.

There's always some doubt and disagreement but most are generally in agreement. At least enough to make a difference, so many people use the death cross as a signal of bad times to come so they'll sell in 'advance' of those bad times and in turn cause those bad times themselves.

yeah the week chart looks like price is just starting to fall. It sucks because I'm at a loss since 10,000 and I don't seem to understand how to cover losses instead of letting everything keep falling and falling. I thought 9,000 was already pushing it, then 8,000 and just when it seems 8,000 is already holding properly, 7,000 is going to come in no time so it's always hard to accept and figure out what prices are key levels to actually take a decision.

If 7k is broken we'll drop to the low 6's so try sell about 6900 and buy back in the low 6000s or wait to see if the 6000 support level holds. That's my opinion anyway. It seems like for the last nearly 2 months it's been destined that we'll test the previous low again. What happens afterwards is anyone's guess but I'm more inclined to think we'll dip further than recover. Some people see a double bottom as a positive thing, I do not.

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March 30, 2018, 03:33:17 AM
 #8

Quote from: salterious link=topic=3212591.msg33417134#msg33417134

I especially liked the part about the bears, bull, bears and horses OP nice drawings Grin.

Thank you, somehow there's lots of animals hidden in charts haha

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March 30, 2018, 11:34:23 PM
 #9

As a very key important price, there's a lot of attraction to 6,800. A double bottom is the only thing that can save crypto now and that would only work if we come back above 7,100.

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March 31, 2018, 12:07:14 AM
 #10


 you are very creative, you have been able to analyze and you make figures in the graphic, wow is very incredible. But I have no idea what the snake will do, these are very terrible months, with this fall every day we will have many threads of people who are in panic wondering if the price will increase and the news channels are commenting on this every day. So, like I said, it's going to be terrible months.

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March 31, 2018, 02:21:53 AM
 #11


 you are very creative, you have been able to analyze and you make figures in the graphic, wow is very incredible. But I have no idea what the snake will do, these are very terrible months, with this fall every day we will have many threads of people who are in panic wondering if the price will increase and the news channels are commenting on this every day. So, like I said, it's going to be terrible months.


Maybe the snake will bite into something and make the market worst ( base on how the snake positioned ). Previous months was terribly tough for cryptos as many hopes are dying now with their big losses and losing interest to invest more especially for those who are just now experiencing this kind of long bearish market.

OP, I didn't know until now that we can make animals from the graphs. Grin Nice!


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March 31, 2018, 02:33:22 AM
 #12

It's obvious bitcoin is not on the trend list lately. There are many ads about crypto's but I've seen almost starts with bit or something but definitely not Bitcoin ad. If we just have an ad that can help Bitcoin get up again it would surely benefit us all. The link was a bit parody don't think i can take it seriously.

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March 31, 2018, 02:38:23 AM
 #13


I find it strange that when bitcoin reached $20, 000 last year, many experts jumped out and said it would reach $500,000 -- $1 million.

The price of bitcoin has dropped sharply this year, and many experts say it will die and will continue to fall sharply.

I just want to say that I don't believe in the death cross, and I don't believe in any experts. I just believe what I see.
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April 01, 2018, 07:58:08 PM
 #14


 you are very creative, you have been able to analyze and you make figures in the graphic, wow is very incredible. But I have no idea what the snake will do, these are very terrible months, with this fall every day we will have many threads of people who are in panic wondering if the price will increase and the news channels are commenting on this every day. So, like I said, it's going to be terrible months.


Thank you for the feedback. There's simply still lots of people in profit if they got in last year so it is logical that we are hitting these prices because people are dumping as easy as price pumped. What's interesting to take a note on is the BTC dominance in the markets. It seems to be increasing even tho prices are falling so for me that makes me think if there is going to be a bounce or a short term recovery, alts will recover first.

Quote from: Tamilson link=topic=3212591.msg33565526#msg33565526

OP, I didn't know until now that we can make animals from the graphs. Grin Nice!
they might help us understand one day the hidden nature of price action!   Cheesy

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April 01, 2018, 08:05:20 PM
 #15


 you are very creative, you have been able to analyze and you make figures in the graphic, wow is very incredible. But I have no idea what the snake will do, these are very terrible months, with this fall every day we will have many threads of people who are in panic wondering if the price will increase and the news channels are commenting on this every day. So, like I said, it's going to be terrible months.


Thank you for the feedback. There's simply still lots of people in profit if they got in last year so it is logical that we are hitting these prices because people are dumping as easy as price pumped. What's interesting to take a note on is the BTC dominance in the markets. It seems to be increasing even tho prices are falling so for me that makes me think if there is going to be a bounce or a short term recovery, alts will recover first.

Quote from: Tamilson link=topic=3212591.msg33565526#msg33565526

OP, I didn't know until now that we can make animals from the graphs. Grin Nice!
they might help us understand one day the hidden nature of price action!   Cheesy
When it comes to dominance there no doubt that bitcoin would really have it.I was amazed too on the images being posted into that link but that death cross thing did get lots of attention since we do know the Moving averages 100 and 50 crossed to each other which do really signifies a very bearish market.For now we are seeing price declines but somehow bitcoin do hold on 6k range.Hope we wont able to touch below prices again,the good thing its still holding.

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April 01, 2018, 08:11:24 PM
 #16

i think price of all coin are coiming to there origanl price from there they are pumped up and then i am hared belive that btc will touch this year 30k$
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April 01, 2018, 09:06:27 PM
 #17

Reading up on the link. One thing that do puzzles me on which regarding to this question.

What do you think the snake will do? Haha

I don't even know on whats the next move.


Checking out with those image it is really a good technical analysis specially on death cross but I don't see we would really end up early.We might able to form base on those technical aspects but I do believe on bitcoins capability.
I'm not very experienced in predicting the diagram ,, but now we have surpassed death cross ,, then what next should we do ?? I think this will be something really bad for bitcoin .. is it possible that bitcoin will continue to fall? do we have to stay against this? I have found losses of up to 30% to this day
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April 01, 2018, 10:03:55 PM
 #18


Funny to read, but getting more serious now, I don't think April will be crucial for for crypto. Even if we stay the hole year on a a bear trend, it wont be decisive for crypto. We already had 2 years like this one, and then we just came back for ATH. Right now we will only recover with real adoption, because awareness of bitcoin already happen, and crypto mania ia over, with a lot of people getting burned in the process.

Bitcoin has amazing value, and soon will be able to have real use, since it's scalability problems are being solved. We still have a lot of other problems to sove, such as regulatory problems, and user interface problems (because BTC is not easy to use for the average user). Once all that happens, and adoptions starts, bitcoin will boom again. It can even go to $1k again, although I doubt that, but it wont be stopped.

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April 02, 2018, 03:14:32 PM
 #19


Funny to read, but getting more serious now, I don't think April will be crucial for for crypto. Even if we stay the hole year on a a bear trend, it wont be decisive for crypto. We already had 2 years like this one, and then we just came back for ATH. Right now we will only recover with real adoption, because awareness of bitcoin already happen, and crypto mania ia over, with a lot of people getting burned in the process.

Bitcoin has amazing value, and soon will be able to have real use, since it's scalability problems are being solved. We still have a lot of other problems to sove, such as regulatory problems, and user interface problems (because BTC is not easy to use for the average user). Once all that happens, and adoptions starts, bitcoin will boom again. It can even go to $1k again, although I doubt that, but it wont be stopped.

yeah adoption is organic demand and it seems the only demand crypto has been getting for the past few months is from speculators. We definitely need that organic demand to stabilise the price.

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April 02, 2018, 04:47:57 PM
 #20

An interesting analysis with nice drawing lol. "But for now, short term important prices are 10,283, 12,243, 13620 up and 6,800, 5900 and 5,300 down" Well you maybe right when price fall to 7k again. So i hope in short term price will reach 12k again

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