Seems like dump is coming soon..

[lakimens]

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[Stigmeee]

https://i.imgur.com/iS7WHvW.png

then it would be a great news then for the whales.. and for the new buyers.. and crying time for high buyer and low seller.. I mean which one will take advantage of it.. great or small has a change to change their life... the saying that what comes up must go down.. and what goes down must come up.. thank you.

[tonylewisverdu]

lets see.. but I feel that we are going stable now and slowly go up..

[First77]

December 2018 target is $2,000 for Bitcoin

[Ravenangel]

Well, your graph is very representative, but i don't think if there will be a dump just yet, the prices are at the rock bottom and i doubt if it can go any further, if it happens however, it will be good news for new investors venturing in the crypto field

[Bervelukan]

It could happen, but I do not really think about the dump price, I will wait and buy it, I always take the opportunity every time.

[pooya87]

going from $6700 to $6900 and having he possibility to go back to $6700 is not called a "dump is coming" situation. it is called normal market fluctuations and this stage can also be considered as an stable phase for bitcoin since for about 2 weeks the price has been around the same price without much of a change and the chances are this is an accumulation phase which is the most likely explanation.

a dump is if price drops to $6000-$5900 and prices like that. so clarify if you think it is going to drop that low? and why? just because of some lines on the chart is not a good reason.

[Notfresh]

Hope you are right,I need to buy before weeks end. Some how I see it going up till midweek the following week before anything happens.

[vit05]

At Bitfinex many are betting on a downfall as well. This time I'll bet differently. Lots of graphics betting on the fall. Lots of news about the decline in use of the word Hodl. Many saying the bubble burst.

But 6k will not pass.


We will never see bitcoin again at 5k

December 2018 target is $2,000 for Bitcoin

Insanity. $2,000 is below cost of production.

LOL Production cost is always adjusted. Those who can not take it, leave the game.

[HabBear]

Your bands are converging at a spot that is higher than the most recent lows. So "the dump" as you call it will be higher than the most previous "dump"...according to your chart.

A better topic for discussion is what happens when the trading band narrows, converges to a single point? What are the triggers that drive the move after that convergence to be up...or down, because we're poised for a break out or a break through, but you're not talking about how we'll know if either is happening.

[Wind_FURY]

OP, what? No. The "dump" has been becoming weaker and weaker, and I believe that also means Bitcoin is now starting to find some support on the  $6000 - $8000 range. It's a good opportunity to buy now.

Where is kwukduck's FUD? I need confirmation! Hahaha.

[hugeblack]

If we notice the long-term chart, the 100 SMA is higher/above than the 200 SMA "this means that the price will rise".
I do not know, but I think the Bitcoin made a "psychological barrier" at $ 7000 and it needs to be broken to raise the price to the stability levels of $ 1000 or $ 8000.
Also, I do not think a lot of bad news looms
Consequently, the dump "back to 5000$" is unexpected.

[haroldtee]

Not far from the truth! The whole sentiment right now in the bitcoin market is bearish and based on the pattern forming from the previous fall and the triangular formation afterwards, it is a bearish one that shows a further downtrend.

However, it is a market, and basically, we can only look forward to the break out which could be in both ways, just that it is more focused on the bear side now than the bull side. I am still bullish long term anyway, but still would not mind whichever way it comes, as long as you know how to take advantage of it for the future.

OP, what? No. The "dump" has been becoming weaker and weaker, and I believe that also means Bitcoin is now starting to find some support on the  $6000 - $8000 range. It's a good opportunity to buy now.

Where is kwukduck's FUD? I need confirmation! Hahaha.

It is normal to see low volume in both ways in moments like this. It is more like the bulls and the bears trying to draw the rope to see who eventually comes out stronger when a triangle formation comes up, but for the fact that it is a triangle formation that has formed from a downtrend, it falls more on the bear side (technically). However, it is until we see the break out like I said, before anything can be guaranteed.

[timerland]

For now, we're going to stay under $7000 it seems.

Any attempt above to get above $7000 will most likely be stopped unless there is some very big news coming out all of a sudden that is positive, regarding the regulation of bitcoin. Otherwise, we're still stuck in this short term downtrend.

But I wouldn't call a $200 drop a dump, that's crazy, since it's barely even a 3-4% drop from the $7000 level. According to your chart the trend lines converge at around 16 April, and that should be the focus instead of worrying about its sideways movement for now.

Anyways, $6000 is solid support for now that shouldn't be breached any time soon.

[batang_bitcoin]

December 2018 target is $2,000 for Bitcoin

Seriously? LMAO.

OP, what? No. The "dump" has been becoming weaker and weaker, and I believe that also means Bitcoin is now starting to find some support on the  $6000 - $8000 range. It's a good opportunity to buy now.

I believe that the dump was done already.

Where is kwukduck's FUD? I need confirmation! Hahaha.

There are newbies that are also spreading fud. Does anyone know where he is? 

[mindrust]

December 2018 target is $2,000 for Bitcoin

Insanity. $2,000 is below cost of production.

Bitcoin's price used to be below cost of production for a long time. It's a self-fixing problem which is not something we should worry about. When the cost of production stays above the actual price, either miners will stop mining bitcoin or the demand will rise and push the prices higher.

Bitcoin price can hit $2k this year indeed and if that happens, it would be a major buy opportunity. Like free "%100 get rich" tickets for everybody.

[lakimens]

Pattern and trend line broken, hope we go on a bull, even if it's a very short one.

[Pursuer]

I am no expert in TA but you seem to have missed the other part of this pattern!
as long as we are inside that triangle you can not tell which way price is going. the lows are not horizontal for you to call for a drop and your highs linked together don't form a horizontal line either to call for a rise. this pattern only means you can not tell which way price will go.
if it breaks below the support line it will drop and if breaks above the resistance it will rise and it will be bigger because there are investors waiting for such breaks.

ps. as you can see the rise part occurred! less than an hour ago price started testing that upper line and broke it so price went up, currently sitting at $7600+

[followmenot]

I really don't understand how people easily assume that we can guess bitcoin price with broken or unbroken trends. Bştcoin isn't a stock. Its very speculative commodity with volatile nature. In this manner I think bitcoin won't drop anymore.

[lakimens]

Price actually broke the other trend line too. The high is 8000 and the trend line at 7900.