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Author Topic: Quote me on that - It has started.  (Read 386 times)
magneto
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April 12, 2018, 08:52:38 PM
 #21

The double bottom around ~6500$ it is the hint for bulls to woke up and bears to go into hibernation .

Quote me on that - It has started - The long rise to the Moon .

I hate it when people refer to this thing called 'moon'. It's completely vague as can be.

For a short term investment I would still be careful in buying now. Unless you're completely prepared to hold onto your coin for the long term I would honestly just wait for the correction to happen, which should be pretty soon.

$8k remains to be resistance, and also the psychological barrier of $10k is just way too much to reach right now when half of the market is still holding bearish sentiments.

Short term wise we could be looking at a correction down to around $7k, then back up to $8-9k before hitting that resistance and BTC continues to consolidate before hitting bottom. IMO you'd be looking at around at least another quarter of a year before the trend completely reverses.


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April 12, 2018, 08:57:25 PM
 #22

If we fall back to 6k, this will prove the double bottom theory is completely useless.


 Well that's where the triple bottom theory takes over.  The triple bottom reversal pattern usually plays out over 3 to 6 months.

edit: TA isn't an exacting science.  There are probabilities of a break up or down based on certain patterns being recognized.  Volume, money flow and direction three of the most important indicators.

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April 12, 2018, 09:59:34 PM
 #23

Well that's where the triple bottom theory takes over.  The triple bottom reversal pattern usually plays out over 3 to 6 months.
edit: TA isn't an exacting science.  There are probabilities of a break up or down based on certain patterns being recognized.  Volume, money flow and direction three of the most important indicators.
The fact remains that these predictions can be said to be true only when these movements are evident in the market, i am not well versed in the theory of triple bottom and how long these pattern continues but the real reason to see any movement in price is the flow of money into the market and nothing else, you can call these graphs and pattern many names but the most important aspect is the flow of money.



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figmentofmyass
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April 12, 2018, 10:17:47 PM
 #24

The double bottom around ~6500$ it is the hint for bulls to woke up and bears to go into hibernation .

Quote me on that - It has started - The long rise to the Moon .

it looks like a standard adam/eve double bottom. i agree with that. we're not in a bull market yet, but it looks like one is being born with the current explosive daily candle. not necessarily a long term bull market, though. it might just be a mid term correction to the $20k>$6k trend. i'm not confident that we're going to new ATH. there is soooo much resistance above.

but it looks like i'll be avoiding shorting for at least the next few weeks. mighty painful squeeze last night for the bears. Tongue

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April 12, 2018, 11:05:14 PM
 #25

The double bottom around ~6500$ it is the hint for bulls to woke up and bears to go into hibernation .

Quote me on that - It has started - The long rise to the Moon .

I like the technical analysis, but I prefer the theory of Tom Lee

Wall Street Bitcoin Bull Tom Lee Predicts “Massive Outflow” Of Crypto Before Tax Day

In a Thursday report Lee notes that, since US households owe an estimated $25 bln in capital gains taxes due to their crypto holdings, and crypto exchanges also will owe income taxes, both households and exchanges will be selling their crypto to pay the US government:

“We believe there is selling pressure by crypto exchanges who are subject to income tax in U.S. jurisdictions. Many exchanges have net income in 2017 [of more than] $1 bln and keep working capital in [Bitcoin]/[Ethereum], not USD — hence, to meet these tax liabilities, are selling BTC/ETH.”

as we are approaching the 17th I believe that people have already paid their taxes and are returning to buy bitcoin, at least this tory makes more sense, because no offense the last time I believed in these tradingview charts, I lost a lot of money, So I'd rather believe in Tom Lee's theory.


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April 12, 2018, 11:11:47 PM
 #26

2014 vs 2018



interesting.

As they always say, history repeats itself. Roll Eyes

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April 12, 2018, 11:22:43 PM
 #27

2014 vs 2018



interesting.

As they always say, history repeats itself. Roll Eyes

History will always repeat, it may take more time to happen but it will surely happen in the future.
So investors and hodlers should not panic, because we know this market can bounce high again.
The chart says it all, don't be a panic seller be a wise buyer.
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April 12, 2018, 11:31:14 PM
 #28

WE'll see about that in the next months to come. To me it doesn't matter whether we stay long in the price range of 6K to 9K so long as it doesn't drop below $5k. The better for the price to stay at $5k so we can collect more BTC before moving up again in the 3rd quarter of the year. Don't you guys think this is another bulltrap for the inexperienced traders? It could be fake attempt.

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blockman
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April 12, 2018, 11:35:03 PM
 #29

The double bottom around ~6500$ it is the hint for bulls to woke up and bears to go into hibernation .

Quote me on that - It has started - The long rise to the Moon .
I'll quote your post.

I'd like to see those bears go back to sleep again while the bulls are ready to run as you've said, it's a hint for them to wake up.

As they always say, history repeats itself. Roll Eyes
Therefore, last year's ATH will repeat this year.  Roll Eyes

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April 13, 2018, 07:54:24 AM
 #30

Well as we are speaking , we are trending above 8k , I truly expected a slow rise but bulls are anxious to start trading.
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April 13, 2018, 08:19:38 AM
 #31

The double bottom around ~6500$ it is the hint for bulls to woke up and bears to go into hibernation .

Quote me on that - It has started - The long rise to the Moon .
Nice to hear this that another journey of bull run has commenced since yesterday and we should hope that this is going to take us to the moon. Bitcoin is currently above $8,000 and that is a since that we have actually resume the bullish trend

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April 13, 2018, 09:00:26 AM
 #32

Well as we are speaking , we are trending above 8k , I truly expected a slow rise but bulls are anxious to start trading.
Bulls aren't anxious, but just don't get excited without anything justifying that. Yes, the price has gone up, but did anything change on a fundamental level for Bitcoin or its ecosystem as a whole? Nope.

The real trigger has to come from investment tools based on or tied to crypto, or a major country legalizing Bitcoin, or lightning network being yet another step closer to proper main net use.

I personally hope that we won't yet go through another bull run this year. I know that the market can change rapidly, but if growth isn't based on something, then it won't be sustainable, we have seen that this year.

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April 13, 2018, 09:19:17 AM
 #33

The double bottom around ~6500$ it is the hint for bulls to woke up and bears to go into hibernation .

Quote me on that - It has started - The long rise to the Moon .

That's exactly what has happened. The trend upwards seems pretty strong, considering that now the price is settling in comfortably at over $8100 per bitcoin, which is more than the highs achieved in the initial stages of the pump.

I would say that there is still room for the price to keep going up, and this bullish trend to last at least a few more days or even a few weeks.

There will be a ceiling on this pump, in my opinion, of around $10k however. If bitcoin doesn't reach five figures which I think the resistance is too strong to head above that level, we may see some major corrections again which will lead to panic dumping. I'm carefully optimistic because this seems like typical fomo buying instead of the end of a bear market.

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April 13, 2018, 01:33:57 PM
 #34

The double bottom around ~6500$ it is the hint for bulls to woke up and bears to go into hibernation .

Quote me on that - It has started - The long rise to the Moon .

That's exactly what has happened. The trend upwards seems pretty strong, considering that now the price is settling in comfortably at over $8100 per bitcoin, which is more than the highs achieved in the initial stages of the pump.

I would say that there is still room for the price to keep going up, and this bullish trend to last at least a few more days or even a few weeks.

There will be a ceiling on this pump, in my opinion, of around $10k however. If bitcoin doesn't reach five figures which I think the resistance is too strong to head above that level, we may see some major corrections again which will lead to panic dumping. I'm carefully optimistic because this seems like typical fomo buying instead of the end of a bear market.


I'm sure there will be the normal ups and downs as the market shifts back to being positive over the next few months, but that does seem to be beginning now. It plateaued at a bottom the past few weeks, its unlikely to go below that, which means it is likely to move up. This isn't like 2014/2015 where most people just abandoned bitcoin and it stayed idle for a long time. Bitcoin is still often in the news and investors are still looking to the next bull run and just wondering when to get in. And institutional investors are doing the same thing. Bitcoin hit the mainstream last year at least in terms of how many people know about it. That means it's not gonna stay down for too long because people are always looking for a great investment opportunity and Bitcoin right now after the crash is as good as it gets. I'd say bear market is over, but bull market will take a few months to build up to the point where it'll be able to just push right through resistance points. Expect over $10k by late spring or summer though.
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April 13, 2018, 01:41:33 PM
 #35

Well as we are speaking , we are trending above 8k , I truly expected a slow rise but bulls are anxious to start trading.

Aside from that, seeing the fast rate increase in bitcoin, many investors may have been attracted and started investing. It is going up too fast that it is in fact, quite scary. I'll wait for at least three to seven days before assuming the best, that this is indeed a trend. If not, then people will soon begin dumping again.

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April 13, 2018, 01:47:59 PM
 #36

Well as we are speaking , we are trending above 8k , I truly expected a slow rise but bulls are anxious to start trading.

Aside from that, seeing the fast rate increase in bitcoin, many investors may have been attracted and started investing. It is going up too fast that it is in fact, quite scary. I'll wait for at least three to seven days before assuming the best, that this is indeed a trend. If not, then people will soon begin dumping again.

Going up fast is not that scary,  in this falling wedge situation .

If this is confirm (falling wedge) - > reversing back to 12-14k,  will be in less than 1-2 weeks.

The healthy long therm situation will be ->> The bottom to be consolidated for a few weeks and then advanced further on increased volume again.
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April 13, 2018, 02:01:38 PM
 #37

Well as we are speaking , we are trending above 8k , I truly expected a slow rise but bulls are anxious to start trading.

Aside from that, seeing the fast rate increase in bitcoin, many investors may have been attracted and started investing. It is going up too fast that it is in fact, quite scary. I'll wait for at least three to seven days before assuming the best, that this is indeed a trend. If not, then people will soon begin dumping again.

Going up fast is not that scary,  in this falling wedge situation .

If this is confirm (falling wedge) - > reversing back to 12-14k,  will be in less than 1-2 weeks.

The healthy long therm situation will be ->> The bottom to be consolidated for a few weeks and then advanced further on increased volume again.



Woah woah it's not gonna double or more in price in 1-2 weeks. It's not like we're in a bull market and coming off the end of a 1 week crash. We're coming out of a 4 month significant crash. $12-14k is more realistic for June - August. Most people are not gonna get interested in bitcoin again until it gets back to the heights of December, which means it will slowly over the course of a bunch of months, build back a solid base to the height of last years mania and then FOMO will go crazy again like it did last year. Look at 2014-2016 for a comparison, but just realize due to not having a Mt. Gox and Bitcoin awareness now being in the mainstream the reversal from bear to bull market will happen much faster than that. But not in a few weeks.
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April 13, 2018, 02:53:50 PM
 #38

The double bottom around ~6500$ it is the hint for bulls to woke up and bears to go into hibernation .

Quote me on that - It has started - The long rise to the Moon .
I consider this rise to happen soon to be optimistic in response to something, but now there are so many opportunities to continue growing that any speculation does not guarantee that it happens, tends to the market slowly rise from the lowlands to the highlands, the rapid increase I think it means bitcoin shows maturity every day, whatever happens to be calm in the face of every movement always optimistic do not do stupid things that can harm the bitcoin or harm yourself, one day will definitely return to the moon.

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vintages
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April 13, 2018, 03:39:31 PM
 #39

We need to reach 8k first to confirm the double bottom.

Last time it didnt reach 8k and we had a bull trap.


I agree with you. We shouldn't rush it and our expectations shouldn't be high either. Two weeks ago,  many of us here were expecting this exact figure,  but alas, the price shame them and went back to $6k. Something like that is likely to happen again. It's not like I'm saying it can't be possible,  but lets not over expect  things. Remember,  cryptos are unpredictable. 
klasik1980
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April 13, 2018, 07:34:14 PM
 #40

We need to reach 8k first to confirm the double bottom.

Last time it didnt reach 8k and we had a bull trap.


I agree with you. We shouldn't rush it and our expectations shouldn't be high either. Two weeks ago,  many of us here were expecting this exact figure,  but alas, the price shame them and went back to $6k. Something like that is likely to happen again. It's not like I'm saying it can't be possible,  but lets not over expect  things. Remember,  cryptos are unpredictable. 
According to the analyst AMarkets Artem Deev, such leaps are absolutely normal for financial assets. Events that could affect the price bitcoin, recently did not happen.
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