Will BTC follow the same pattern in February 2018?

[AakZaki]

Same development to be viewed in Feb 2018 (5900 $ - $ 11700) vs
Apr 0.67% 2018 (6400 $ - xxxx $). If the growing wedge development follows
Feb 2018 then BTC -0.05% might cross upto round 8800 $ earlier than going down

Confirmations:
RSI is above 70 (Over bought) in 4hr timeframe
Stochastic is above 90 (Over bought) in 4hr timeframe
Fibonacci retracement is above 0.382

There is a threat that BTC -0.05% might cross upto 9000 $ if Apr 0.67% 2018 BTC -0.05%
respects the Fib 0.5 that is similar as Feb 2018.

What do you think?

[1715341091]

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[1715341091]

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[1715341091]

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[boled]

I think will hold bitcoin longer, regardless of the price this month, I will wait until $ 50k, I have not dared to trading scalping. honestly, i can't read your analysis, but I see something positive from your writing. can you give an idea, among what price should we buy?

[BitcoinNewbie15]

I think will hold bitcoin longer, regardless of the price this month, I will wait until $ 50k, I have not dared to trading scalping. honestly, i can't read your analysis, but I see something positive from your writing. can you give an idea, among what price should we buy?

From what I have gathered, his post is predicting that the price will continue a downtrend like it did in Feb, and we may go lower than the low of 6k.

[Baofeng]

Very valid point mate. I also been looking at the previous patterns and I'm seeing at upper bound of $13K if the pattern will follow the Feb 2018 as you have pointed out.

Of course there will be a bump a long the way, many resistance and mental barrier before reaching at least $13K levels. So I say that its going to exciting as it seems that investors have renewed their "love-affair' with bitcoin so let's see how it pans out and hope that we can overcome and get to at least 5 digits at the end of the month or early May.

[AakZaki]

I think will hold bitcoin longer, regardless of the price this month, I will wait until $ 50k, I have not dared to trading scalping. honestly, i can't read your analysis, but I see something positive from your writing. can you give an idea, among what price should we buy?

As we all know that I post is a 4 hour TF prediction, and I think the pattern will only show a small correction section. and I also believe that long-term weekly TF shows something bright. and all Alt seems to be adjusting the Bitcoin price itself especially BCH, ETH and Alt others.

From what I have gathered, his post is predicting that the price will continue a downtrend like it did in Feb, and we may go lower than the low of 6k.

I do not expect Bitcoin to fall lower than you say, because as I say for the long term it will be bright.

I think price of btc will be increase $30000 this year

it will definitely be the desire of all traders around the world, and I personally hope to be higher than you say. 

[boled]

I think will hold bitcoin longer, regardless of the price this month, I will wait until $ 50k, I have not dared to trading scalping. honestly, i can't read your analysis, but I see something positive from your writing. can you give an idea, among what price should we buy?

From what I have gathered, his post is predicting that the price will continue a downtrend like it did in Feb, and we may go lower than the low of 6k.

this I consider as a hint to add bitcoin collection as an investment tool, I am not a daily trader, so when there is a hint that there will be correction, then I always hope to add again, albeit a bit. and bitcoin today is a nice trend.

I think will hold bitcoin longer, regardless of the price this month, I will wait until $ 50k, I have not dared to trading scalping. honestly, i can't read your analysis, but I see something positive from your writing. can you give an idea, among what price should we buy?

As we all know that I post is a 4 hour TF prediction, and I think the pattern will only show a small correction section. and I also believe that long-term weekly TF shows something bright. and all Alt seems to be adjusting the Bitcoin price itself especially BCH, ETH and Alt others.

From what I have gathered, his post is predicting that the price will continue a downtrend like it did in Feb, and we may go lower than the low of 6k.

I do not expect Bitcoin to fall lower than you say, because as I say for the long term it will be bright.

I think price of btc will be increase $30000 this year

it will definitely be the desire of all traders around the world, and I personally hope to be higher than you say. 

I believe in bitcoin, I can not make an analysis, but I believe in the market, I make more estimates of price by looking at the volume market, and your analysis is very helpful, thank you.
I am actually still confused, what is the connection between bitcoin and altcoin, why the change in bitcoin prices is seen to always have an effect on altcoin prices, like these two days, bitcoin prices go up, and almost all alt uptrend as well, including Ethereum.

[haroldtee]

Technically speaking, the chances of a reversal is becoming glaring unless we can get to see some news that would change the course of action which for now, there isn't.

Firstly, you have made some pretty good points and just to add to it, asides that we are in an overbought market, the MACD shows a bearish divergence, RSI shows the buying momentum is getting low which also shows some divergence as well, and the most of it all, we are in a rising wedge which a break lower from it would validate reversal.

Nevertheless, we cannot say how long we are going to be reversing, since there could still always be a retest of the resistance that we could not break. So, we may have three options, we are going to consolidate a while with the reversal before further moves OR we go lower as you have mentioned, OR we get to see some miraculous moves while squashing the rising wedge for upward movement. Only time will tell and trend is always your friend as a trader!

[hase0278]

What do you think?

Your points are valid and I also think btc will continue it's downtrend, reaching a low price within july this year unless there is a news that will prevent it from happening. For now I don't see bitcoin being bullish soon because there is no news around that will drive the price up despite the market being overbought already. I don't think we will see consolidation though, just pure downtrend and then another price movements after that.

[fabiorem]

I think not. We are going straight to 12k, then we will have some correction.

[batang_bitcoin]

I think not. We are going straight to 12k, then we will have some correction.

Thinking also that it's not going to be the same with that month. I guess that's the biggest correction that bitcoin will go through for this year and the correction can possibly happen again next year when bitcoin is surging back to it's highest seen price. I'm not that so damn good in technical analysis but coming from a big rise that big correction is expected and vice versa.

I think price of btc will be increase $30000 this year

Everyone seems to believe with this prediction and let's all hope that it will as nothing is impossible now.

[arpon11]

I have this tought too and I think bitcoin is going to go up now than before. We are going to have more of the bullish trends than the bearish at the end of this month and from there every think is going to resume again like last year that may push bitcoin above $15,000. Next month is going to also be another month to watch.

[Jating]

I think not. We are going straight to 12k, then we will have some correction.

I like your optimism dude. But let's see first if we can get back at $10K levels before we can even talk $12K.

However, as per OP we are going to cross $8800 before seeing a price correction. In actuality, we have crossed $9K already before seeing a minor dip but I think its achievable in the next coming days (the $9K barrier).

So I would say that the price could at least test $10K before seeing another retracement and then consolidating again for another run at $12K-$13K. But then again, even though we are seeing a massive gains in the last week or so doesn't mean that we can't make a sudden reversal, everything is possible, but I do hope that the bearish trend is somewhat weakening.

[bozo333]

I think price of btc will be increase $30000 this year

obviously, It is possible in this year because many investors are entering into the market so demand and supply is increasing soon so automatically it will going to be peak in end of the year.
But many peoples are said every month some fluctuation is possible in Crypto market so Bitcoin is maintain a 15k to 20k USD in end of this year.

[el kaka22]

Who really knows at this stage, but it actually seems more like it. However, it is still too early to conclude but from the look of things, we broke from a downtrend, but it is also not the first time we did, we still dived straight back into it eventually. Also, the market is having a rising wedge at the moment with the overbought conditions and we all know how that usually ends up turning out in most markets. So, for me, I feel we just keep our arms crossed and just be at alert.

From what I have gathered, his post is predicting that the price will continue a downtrend like it did in Feb, and we may go lower than the low of 6k.

Probably there could be no chances for you to be having a right predictions as history may repeat but not withe exact levels. It is complete meaningless to predict the market movement only with history because news and events alone driving market not just the history of data.

[thecodebear]

In a word, no.

That double test of mid-high $11k earlier this year was one of the big bull traps after the fall and hitting the bottom. Now we settled back on the bottom for a bit recently and momentum has shifted to being positive. So right now is nothing like February. Bitcoin is in a completely different position now. The "oh no the world is ending" sentiment is gone now as Bitcoin has turned the corner on the crash. The price may very well bounce off $9k if it doesn't break it soon, and head back to around $8000. But that'll just be a nice consolidation to build up momentum to break through $9000. It's not gonna start sliding back down like it did during the height of the bear market, those times are over for now.

[BitMaxz]

The movement price last February looks like the same as this month well for me we don't actually what will the price after the end of this month.

The possibility that I know could happen after this month the price will increase much higher because more investors are coming. So the movement of the price can be changed and instead of downtrend it might be increased more and hit back to $10k.

For now, the price of bitcoin is stable around $8500-$9000 and I think more good news will come that could trigger the price to increase much higher.

Just like what happens in block halving where people didn't expect that the price will continuously increase until December 2017.

So if there is good news about bitcoin expect that the price will become more expensive.

[tomahawk9]

For now, the price of bitcoin is stable around $8500-$9000 and I think more good news will come that could trigger the price to increase much higher.

I think that,after the we hit 9k and the price actually consolidates around this mark, something that could trigger the next increase to 10k or 12k will be mass emotion rather than good news. I think FOMO will kick in hard when people realize "the price is getting closer to $10.000, I better buy/invest now!".

Obviously, good news, bullish articles, and the overall positive sentiment around BTC right now could potentially trigger another big increase in the price in the following days/weeks, but I wouldn't discard the power of mass emotion, especially from newcomers and investors.

[crzy]

I think not. We are going straight to 12k, then we will have some correction.

Yeah, its not gonna happen easily correction will happen again because big investors will take profit and will dump the market again. The price are stable on $8k and hopefully this is the last support of this year.

[JanpriX]

Well, from my understanding on the above chart, I'm hoping that the market will not follow with what happened last February. And if it indeed happen, those longs will be rekt hard and more panic will ensue into the minds of the people. If we follow that trend, we'll break the $6k support and will see the deeper $5k area.

Everyone's hoping that we are out of the dangerzone and many anticipate the return of the most sought bull, including me. But, it is better to take extra care in trading with this kind of market. Anything can happen, as always.

[thecodebear]

and just this hour Bitcoin has made the move above $9k!