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Author Topic: Bearish again? (Back at $5500)  (Read 1248 times)
withlove99
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August 16, 2018, 07:57:37 AM
 #41

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?

The current BTC price is $63xx and according to current price movements, I expect a BTC price of $68xx a next week, but it's just a guess. Let's see how will the market looks?

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August 16, 2018, 08:14:35 AM
 #42

I'm thinking $ 6000 already is the current hard support. Bitcoin will return to $ 10,000 in September. A lot of technical analysis is geared towards that
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August 16, 2018, 08:27:22 AM
 #43

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?
Skyrocketing may happen and may not as we do not know actually because major factor that is controlling the value is demand rate or buying rate. Once the number of participants increases the value will start its increase trend and when it decreases the value also declines. Due to this fact which can happen any time in the market so we have no idea when will the value start going up in the air.

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August 16, 2018, 11:16:01 AM
 #44

yes you are right for now it seems that the condition of the bitcoin price will be back bearish and will touch the most basic price may touch the price of $5000.

Even though the market price of bitcoins will reach $5k dollars, it will still grow even more in the future due to the volatility of the market so keep on holding your coins today.
Liquidity is necessary to increase for most of investors like stable market situations so that they predict and make decisions easily. Price yesterday fell down to 5k dollar figure but we saw quick recover to 6k US dollar again which was a good attempt and clearing that investors are investing more. I will guarantee you if we start investing on large scale or stop selling in this low market then we will see bull market very soon.

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August 16, 2018, 01:13:43 PM
 #45

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?
I doubt it can go that much low anymore. I mean it still can but I doubt it will happen, I believe for a while it will stay around these levels before going up again. As per some expert's analysis bitcoin market is just copying exactly what happened in 2014 after hitting $1200 for the first time. This makes me worried a lot.

People are forgetting that going back to $20k is really hard however getting bitcoin down to $4k or lower is actually harder, you need billions of dollars or some sort of manipulation/speculation that could rock the crypto space, like USA bans all crypto related stuff type of big, either that or billions of dollars. I doubt anyone would do neither of those two just to get bitcoin price under $4k. Considering this, I think we are at a safe spot, the price is good to buy because it is really hard for it to go further down.

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August 16, 2018, 07:59:05 PM
 #46

And it looks like the trading would be around $6K-$6.5 and the big mental barrier is $7K. I like what I'm seeing though, we might be seeing another sideways for a few days, and probably consolidating in order to get to the new phase, which is $7K. Might be a bull trap again?  Cry Remains to be seen.

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August 16, 2018, 08:20:57 PM
 #47

I believe we already touched the bottom of this bear market, there is too much support around the $6k levels for it too reach a new low for the year.  There is still a lot of negativity lingering because of the dip from the $20k peak.  I do believe the next bull run will start very soon and there is no reason we can't reach a new all time high by the end of this year.

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August 16, 2018, 10:07:09 PM
 #48

Bitcoin has the strong fluctuation to sum up. Well, remember the market always sorrounds of surprises so possibly price will touch a sky rocket but it's not clear when. A chance could occur let's see before this end of the year.

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August 16, 2018, 11:11:54 PM
 #49

there's obviously a real battle for the $6000s between bulls and bears. most people around here seem to assume the bottom is in, which makes me weary. i'm still refraining from trading right now. the market is still threatening a lot of weakness, and after so much downside, i'm only looking for buying/longing opportunities. i've got my fingers crossed that we start curving upwards and showing support into dips, but......i'll wait and see. Lips sealed

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August 17, 2018, 07:12:15 AM
 #50

I'm thinking $ 6000 already is the current hard support. Bitcoin will return to $ 10,000 in September. A lot of technical analysis is geared towards that
Bearish trend is currently existing in the market and we should not sell right now will be a foolish decision ever if you proceed for selling. Better decision is to invest more in the Bitcoin so that we have more coins in our wallet for we are looking to make huge or maximum profit in high market. High market is not far as it has taken too long to convert into bullish but we have to think for benefit only and the current benefit is to buy more.



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August 17, 2018, 09:26:16 AM
 #51

I'm thinking $ 6000 already is the current hard support. Bitcoin will return to $ 10,000 in September. A lot of technical analysis is geared towards that
Bearish trend is currently existing in the market and we should not sell right now will be a foolish decision ever if you proceed for selling. Better decision is to invest more in the Bitcoin so that we have more coins in our wallet for we are looking to make huge or maximum profit in high market. High market is not far as it has taken too long to convert into bullish but we have to think for benefit only and the current benefit is to buy more.
This is really alarming. We are still in a downtrend and it is normal to see huge drops like this happen than huge buys. That is where the momentum comes in every trade and right now, the sell momentum is higher and the bears are still in control. It is something that is not easy for most new investors or traders to get used to in the market, which is why in this moment, it is always better to wait for very clear signals before making any move in the market. Being afraid of the market is the core reason why prices were driven out up to this levels.

A lot of people who really are confused about what is happening now are those who did not even understand what this space is like before even deciding to invest at all with quite a number of them just looking for ways to quickly get rich and wealthy in a short term. The best thing for anyone to be thinking of now is to see how to be buying the dips to take advantage of huge profit when the market picks up.


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Ourplealis
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August 21, 2018, 09:24:11 AM
 #52

there's obviously a real battle for the $6000s between bulls and bears. most people around here seem to assume the bottom is in, which makes me weary. i'm still refraining from trading right now. the market is still threatening a lot of weakness, and after so much downside, i'm only looking for buying/longing opportunities. i've got my fingers crossed that we start curving upwards and showing support into dips, but......i'll wait and see. Lips sealed
Bitcoin price is trading between 6000$ and 7000$ for a long time. in fact at that level the investors are not reluctant to invest their money in bitcoin at that level, they know that the current price is the lowest price for bitcoin and therefore there are very little chances that bitcoin rice will break that level very easily.
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August 21, 2018, 10:02:57 AM
 #53

And it looks like the trading would be around $6K-$6.5 and the big mental barrier is $7K. I like what I'm seeing though, we might be seeing another sideways for a few days, and probably consolidating in order to get to the new phase, which is $7K. Might be a bull trap again?  Cry Remains to be seen.
I think that 7k is not a big  psychological barrier for bitcoin investors. Bitcoin price can easily cross that level may be in next 24 hours. I think that the big barrier for bitcoin price is 10k which I think can cross but after entering some good news in the market.
inneveca
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August 21, 2018, 11:13:52 AM
 #54

I believe we already touched the bottom of this bear market, there is too much support around the $6k levels for it too reach a new low for the year.  There is still a lot of negativity lingering because of the dip from the $20k peak.  I do believe the next bull run will start very soon and there is no reason we can't reach a new all time high by the end of this year.
Yes that is a fact that we have already touched the bottom, but people still reluctant to do investment in bitcoin because of the negative news that are wondering in the market. Hope very soon people will overcome their fear and will start investment in bitcoin which is surely give a good boost to bitcoin price.
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August 21, 2018, 12:01:44 PM
 #55

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?
it's been bearish trend for the past 6 months and I think that this will the trend for the whole year. The bull run maybe will come next year if there's no good news that will ignite a bull run for this year. You need to have enough patience to wait for the bull run.
ehiozuwa
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August 21, 2018, 12:03:22 PM
 #56

We have moved past that level for good, we are hoping bitcoin will break the 7000 $ resistance and move further upward before it goes to the moon
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August 21, 2018, 03:43:05 PM
 #57

We have moved past that level for good, we are hoping bitcoin will break the 7000 $ resistance and move further upward before it goes to the moon

Well, we have no other choice but to hope and wait for that moment. As other speculations said that bitcoin will only play from $5k to $6800 for a few weeks. Being said and experiencing it now, it is not hard to break a resistance of $7k and start a bull run, if ever.

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BitHodler
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August 21, 2018, 08:00:42 PM
 #58

there's obviously a real battle for the $6000s between bulls and bears. most people around here seem to assume the bottom is in, which makes me weary.
We can't keep testing the $6000 mark endlessly. It will break by the next one or two attempts, especially if the decline is fueled by yet another couple of ETF rejections which people seem to go nuts on.

My thought is that the 'ultimate' bottom is somewhere around the $4000 mark. It will reset the market back to where Japan was positively stimulating a healthy uptrend, but still before the futures announcements.

And people relax, I'm not saying it will actually go down to $4000. It's just a thought that's floating around in my mind in case we do actually break the $5700 mark. It doesn't even sound unrealistic.

figmentofmyass
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August 21, 2018, 09:24:08 PM
 #59

there's obviously a real battle for the $6000s between bulls and bears. most people around here seem to assume the bottom is in, which makes me weary. i'm still refraining from trading right now. the market is still threatening a lot of weakness, and after so much downside, i'm only looking for buying/longing opportunities. i've got my fingers crossed that we start curving upwards and showing support into dips, but......i'll wait and see. Lips sealed
Bitcoin price is trading between 6000$ and 7000$ for a long time. in fact at that level the investors are not reluctant to invest their money in bitcoin at that level, they know that the current price is the lowest price for bitcoin and therefore there are very little chances that bitcoin rice will break that level very easily.

but remember, that logic goes both ways. bears are obviously not reluctant to sell down here either.

bulls are not letting price below the $5500-$6000 area. but the bears are also not letting price above any previous high. we're stuck in a pattern of lower highs. as i see it, the $6000s is still a real battle zone. price could really go either way here.

there's obviously a real battle for the $6000s between bulls and bears. most people around here seem to assume the bottom is in, which makes me weary.
We can't keep testing the $6000 mark endlessly. It will break by the next one or two attempts, especially if the decline is fueled by yet another couple of ETF rejections which people seem to go nuts on.

agreed, we can't keep testing it. the support will eventually break if it keeps getting hammered. bulls need to make a move relatively soon.

nydiacaskey01
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August 21, 2018, 11:50:30 PM
 #60

The Bitcoin pirce trend has always been clamped within $5500-6000. The spike pricing $7000 was too synthetic since an increase if 1k in a day was a bit sketchy. Will we ever see pricing skyrocketing again? What are your thoughts?
Bitcoin price has been moving side ways for the past few days. It may dip a little to below $6,000 but it will rebound to $6,300 and move side ways again. Day traders can make a lot of profits for this price movement specially those who are very much familiar with charts. But for us holders, lets just wait for the end of Chinese Ghost month and lets observe if price will jump back to $8,000 or perhaps back to 5 digits again.

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