BTC will continue dipping as rally lacks the support from volumes

[AICoin_Official]

Price still receives pressure from MA 5 on daily chart, though we’ve seen a minor rally on March 28, as mentioned in my previous analysis, BTC is expected to continue dipping as rally lacks the support from volumes.

The story repeats today, even if price has moved to the former strong support, bulls still show no intention for a counterattack, now it’s only a matter of time before price continues moving downwards.



Struggling around support seems to be meaningless as such pattern can be basically interpreted as a normal bounce. Overall, there isn’t much room for us to operate.

The market won’t recognize the price until bulls counterattack, light positions are still recommended. Besides, other major coins are correlated to BTC in price action.

Original by Kuang Ren, translated by AICoin Jami.

Full version: https://www.aicoin.net.cn/article/19176.html

[Fuhre]

bitcoin like Keep Back from bullish market. I do not know what to do for now. hoping there will be a lot of good news in the near future to motivate prices to rise again. things are now much different from before. it seems that the downward push will still continue to stall at the lowest position. A bleeding heart continues to grow as the panic keeps coming. but, the situation now will be an opportunity for new investors. I can only hope for the best, so that this storm will pass.

[BitHodler]

I think we're there already since there isn't much more room left for the price to tank further. I would say it's almost a perfect buying opportunity. Today it might still an available option, but what about next week?

People will blame themselves for not having bought at current levels, where FOMO will start to gain the upper hand, and that will translate into a mini trip to the higher $8000 regions.

Another thing that I have seen circulate quite often recently, is that certain people believe that this decline might also be related to the tax season, which might hold some value, but it's also quite easy to refute.

[TwSeventh]

bitcoin like Keep Back from bullish market. I do not know what to do for now. hoping there will be a lot of good news in the near future to motivate prices to rise again. things are now much different from before. it seems that the downward push will still continue to stall at the lowest position. A bleeding heart continues to grow as the panic keeps coming. but, the situation now will be an opportunity for new investors. I can only hope for the best, so that this storm will pass.

from my perspective,we do not need any 'good news' to raise the price but instead we need to gain more attention and demand from people.
as we can see the price went up significantly in 2017.
and everybody expecting a correction to gain a momentum and creating an opportunity for newly investors and adopters.
Bitcoin might be lost its volume but it keeps gain a dominance everyday.
it's just matter of time for it to get it back and reaching another ATH.
for now,we need to stay cool and calm ourself.
we will only losing it if we are selling it.

[1Referee]

Another thing that I have seen circulate quite often recently, is that certain people believe that this decline might also be related to the tax season, which might hold some value, but it's also quite easy to refute.

If one thing became clear in the recent months, then it's safe to say that it is people's constant urge to blame certain events and happenings for the lowering price. In a way, all events that we have gone through recently might have somewhat contributed, but they are not the main reason. People need to accept that the demand is lower than last year, which is the main reason the price is going down.

Events people blame for the price going down;

SEC's recent announcement.
South Korea's announcement.
China's announcement.
MtGox dumps.
Facebook crypto ad ban.
Google crypto ad ban.
Twitter crypto ad ban.
Japan "shutting down" exchanges.
Tax 'season'.

What's next? This empty speculation will never stop with how ignorant people are. No demand means no price sustainability, period.

[sorrysteve1]

The lack of any real buying above the market price is really hurting bitcoin's chances of a recovery. For the most part the volume is when people are dumping in to big orders instead of big orders buying away at walls and resistance, this way the price isn't bouncing much even though there's strong resistance in the mid-high 6000s

[exstasie]

I think we're there already since there isn't much more room left for the price to tank further. I would say it's almost a perfect buying opportunity. Today it might still an available option, but what about next week?

There's lots of room to drop further. The price is still $7,000 above $0!

People will blame themselves for not having bought at current levels, where FOMO will start to gain the upper hand, and that will translate into a mini trip to the higher $8000 regions.

This is always true at some point, but remember it's the same narrative that bulls were telling themselves this entire downtrend. Buying the dip indiscriminately worked for a long time. Years. It doesn't work anymore. People were saying literally what you just said when price was well above $10,000. Not until a lot of those bulls have capitulated or forgotten about BTC can we enter a new cycle. This takes time more than price action.

Another thing that I have seen circulate quite often recently, is that certain people believe that this decline might also be related to the tax season, which might hold some value, but it's also quite easy to refute.

If there is incentive to sell BTC to cover tax liabilities, then that assumes a bullish bias (you need to hold BTC to sell it for cash). That means that people are most likely to do so in January, to reinvest their new capital for long term gains (earlier the better).

[aso118]

Another thing that I have seen circulate quite often recently, is that certain people believe that this decline might also be related to the tax season, which might hold some value, but it's also quite easy to refute.

If there is incentive to sell BTC to cover tax liabilities, then that assumes a bullish bias (you need to hold BTC to sell it for cash). That means that people are most likely to do so in January, to reinvest their new capital for long term gains (earlier the better).

Holders of BTC selling (either to cover tax liabilities or any other reason) doesn't imply a bullish bias. Traders might have turned bearish and could be harvesting their losses, to offset it against other profits that they have made. There is no reason to suggest that the funds realized from selling bitcoins now will be reinvested in bitcoins in the next tax year.

[Real14Hero]

We can do nothing much except for expecting the big whale to drop in and recover the market. There can only be hope for motivation for the price to rise. But always remember that we are still at $7000, an year and a half ago we were at much much much below levels.
Let's all gold and not dump like anything instead try keeping one's mouth shut would really help it recover

[LFC_Bitcoin]

The OP should make his own TA, price anyalysis/prediction thread instead of spamming the boards daily with multiple shit post threads.

This guy makes 2 or 3 a day like this just to see his name in lights? chessnut & Afrikoin etc have 1 thread, why does this goon need multiple?

[Palmerson]

We can do nothing much except for expecting the big whale to drop in and recover the market. There can only be hope for motivation for the price to rise. But always remember that we are still at $7000, an year and a half ago we were at much much much below levels.
Let's all gold and not dump like anything instead try keeping one's mouth shut would really help it recover

You underestimate yourself. In order to lower prices whales must constantly sell large volumes of coins. Why don't you buy them? They scare you through fud spreaders and you believe them. Many people facilitate their work and also sell their coins. If you do not make these mistakes prices will go up very quickly.

[hase0278]

You underestimate yourself. In order to lower prices whales must constantly sell large volumes of coins. Why don't you buy them? They scare you through fud spreaders and you believe them. Many people facilitate their work and also sell their coins. If you do not make these mistakes prices will go up very quickly.

Price wouldn't go up quickly if one does so since one's actions doesn't greatly affect the market unless one is buying lots of bitcoin. It would just help lessen the pressure that contributes to the bearish trend. Nevertheless, one will profit in the long run if what was said in the quote was done.

The OP should make his own TA, price anyalysis/prediction thread instead of spamming the boards daily with multiple shit post threads.

This guy makes 2 or 3 a day like this just to see his name in lights? chessnut & Afrikoin etc have 1 thread, why does this goon need multiple?

Let him do as he pleases, he might get banned if OP continues doing shitpost like this one. If you think OP is breaking some of bitcointalk's rules, feel free to report it to moderator.

[pitiflin]

If one thing became clear in the recent months, then it's safe to say that it is people's constant urge to blame certain events and happenings for the lowering price. In a way, all events that we have gone through recently might have somewhat contributed, but they are not the main reason. People need to accept that the demand is lower than last year, which is the main reason the price is going down.

Events people blame for the price going down;

SEC's recent announcement.
South Korea's announcement.
China's announcement.
MtGox dumps.
Facebook crypto ad ban.
Google crypto ad ban.
Twitter crypto ad ban.
Japan "shutting down" exchanges.
Tax 'season'.

What's next? This empty speculation will never stop with how ignorant people are. No demand means no price sustainability, period.

People also need to understand that using these events as excuses will affect them only at the end of the day along with the others. It's their stupidity, it's their lack of knowledge and their panic selling activities that's causing the price to go down and not rise. There's no demand right now. People are so desperate to sell their bitcoin, for what? To cut their losses... How dumb can one be?

Events people should actually blame for price going down :

Panic Selling.

That's it. Reality check.

[pooya87]

volume is pretty much what it always is. it is high during big swings and low when price is more stable than changing. and generally speaking i never liked analyzing the market based on volume. i believe it is very misleading because it is tightly connected to the price movement itself and it doesn't show the future drop or rise in most  cases!

[paul gatt]

Try to solve the problem. If more people invest in buying bitcoin back then the bitcoin price will increase rapidly. More energy is needed. Many bitcoin investors are now in the dilemma: selling is not finished and buying is not possible

[imapessimist]

If more people invest in Bitcoin the price will go up.  But they need to realise that not everyone can make a profit and it's all to do with timing.  There is no interest paid.  They only profit they make is other people's money.  If there are no 'other people' prepared to lose money then it's a dead loss.   That is the huge problem.  And few people seem to realise this.  You don't lose money till you sell.  But you don't make money till you sell either.  It works both ways. 

[Fuhre]

bitcoin like Keep Back from bullish market. I do not know what to do for now. hoping there will be a lot of good news in the near future to motivate prices to rise again. things are now much different from before. it seems that the downward push will still continue to stall at the lowest position. A bleeding heart continues to grow as the panic keeps coming. but, the situation now will be an opportunity for new investors. I can only hope for the best, so that this storm will pass.

from my perspective,we do not need any 'good news' to raise the price but instead we need to gain more attention and demand from people.
as we can see the price went up significantly in 2017.
and everybody expecting a correction to gain a momentum and creating an opportunity for newly investors and adopters.
Bitcoin might be lost its volume but it keeps gain a dominance everyday.
it's just matter of time for it to get it back and reaching another ATH.
for now,we need to stay cool and calm ourself.
we will only losing it if we are selling it.

not a problem, our opinions are different. but, clearly our goal remains the same my brother! we just want to see the price start back to normal as it used to and continue to rise to the top, so that all hope that we all expect to be true.
we're Being in the same hot water. we must continue to spread positive news to all its users, traders and other investors. hopefully this chaos becomes Cross your finger for market, price and bitcoin.