Crashing' Bitcoin Predictions

[Wind_FURY]

OP, I am with you on the success of your on your "long term to $1700" prediction. Because like you, I also want to buy some cheap Bitcoins.

Never stop and never surrender, if you pray hard enough, your wish might become true. Hahaha.

[trako]

There are low odds. But if bitcoin goes below $ 3,000, all people compete with each other to get bitcoin. So in summary, this situation continues for a very short time. prices go back to where they started.

[aencarnaci]

I must confess I am quite surprised that the support around $5800 has been that strong. Like you I was expecting the price to go below that yesterday or today... That's why Bitcoin and crypto currencies in general are still very hard to predict...

There is nothing to be surprised about, so far, it is serving as a major support and it has bounced off it for some time, but that does not mean we could still not break it eventually. Every market is hard to predict and that is the reason they are markets anyway and the only thing we can do is to accustom ourselves to the trend and time, but the volatility that some are complaining about is the volatility that some are really enjoying greatly. It is just as simple as that.

There is no point in fearing these kind of doomsday predictions, especially based on technical indicators. I would happily accumulate more bitcoins at those levels. If you have belief in the long-term outlook, there is no reason to get scared.
It is another matter that I do not have faith in technical analysis...

Those who fear them are certainly those who never get to understand the reason for their investment in the first place or will I say got the wrong understanding since all they care about is getting rich as the media painted it throughout last year. There will always be crashing predictions during a bear trend and it was obvious we will enter this corrective state, but certainly last year, even if you tell people to be careful, they will say you are generating FUD.

[reflector]

There are low odds. But if bitcoin goes below $ 3,000, all people compete with each other to get bitcoin. So in summary, this situation continues for a very short time. prices go back to where they started.

This price prediction is impossible in future because most least value is 5k USD so bitcoin will never come back to 3k USD. This year altcoins are crashing because last year segwit2x was lanched so that time network was too busy so Bitcoin was crashing and all other altcoins are growing. But this year everything will be change so Bitcoin will going to moon.

[reactorjuno]

I must confess I am quite surprised that the support around $5800 has been that strong. Like you I was expecting the price to go below that yesterday or today... That's why Bitcoin and crypto currencies in general are still very hard to predict...

There is nothing to be surprised about, so far, it is serving as a major support and it has bounced off it for some time, but that does not mean we could still not break it eventually. Every market is hard to predict and that is the reason they are markets anyway and the only thing we can do is to accustom ourselves to the trend and time, but the volatility that some are complaining about is the volatility that some are really enjoying greatly. It is just as simple as that.

There is no point in fearing these kind of doomsday predictions, especially based on technical indicators. I would happily accumulate more bitcoins at those levels. If you have belief in the long-term outlook, there is no reason to get scared.
It is another matter that I do not have faith in technical analysis...

Those who fear them are certainly those who never get to understand the reason for their investment in the first place or will I say got the wrong understanding since all they care about is getting rich as the media painted it throughout last year. There will always be crashing predictions during a bear trend and it was obvious we will enter this corrective state, but certainly last year, even if you tell people to be careful, they will say you are generating FUD.

That's my fear, that the price of $5800 gets broken (down) eventually. I have being watching the price for a while now, we have been touching the price a few times already and everytime the bounces (up) were less and less impressive. Hope I am wrong.

[AlutBitcoin]

[snip]

Check the line on this weekly graphic which connects the 5403 usd on 5 november to 5876 on 14 august. I'm betting this support line passing today on about 6000 is going to be breached and we are going to about 5700, the other support line connecting the 6000 low on 5 February and the 5755 low on 25 June.
If this is broken we have the other long term support line on 5526. This should hold or bounce back for a good trade.
If this long term line is breached all hell will break loose. Slowly, for many months, we might end up on the lower very long term support line now on 1700, but that probably will be above 2000 when reached. Might...
But don't trust me. This isn't a recommendation. Do your homework.

I agree with you when you said you don't recommend the prediction because the market price movement is not certain. However, I also presume some dip in price before the end of this year but I don't actually the price range but I'm certain it will be deeper than the previous dump in price.

A lot of sentiments are actually going towards bullish towards the end of the year, but the truth here is that, no one can actually tell what things would be like in the long run or even the short run. The market is still trying to hold up, but it sure seems the bears are really still in this market and could drive it hard down as much as they want, and we still have a lot of time before this year ends anyway. If it goes lower, then I buy more. As simple as that for someone who is looking forward to the long term anyway?

[Crashing]

Bitcoin breached two ascending support lines and barely managed to keep above a descending support line, after actually breaching it (it's passing at about 4500 usds).
It's on free falling and the probability to reach about 2000 usds on the next months increased a lot. There is an ascending support line on the weekly charter passing 754-890 and currently on 1888 that should offer a support.
If this line can't hold long term, the next one is passing below 1000, now at about 650!
A long term buy at about 2000 might be a good move, but not with all your capital, because if it stands, the price will be around this value for months, before slowly going up.
But a flash crash below this line for a quick drop to the next support line now at 650 can't be ruled out.
At least, this is the story that past major crashes tell us.
But don't trust me. This isn't a recommendation. Do your homework.

[Crashing]

Probably the market will make a three day green candle, since bitcoin was oversold.
But this seem to be a short-term movement. An opportunity to close long positions. Because after we'll have more down.
The trend is bearish, don't fight the trend by buying because you thinking the prices are very cheap. A price only is cheap when it's about to go up, but this doesn't seem to be the case.

[Crashing]

The long term ascending line shown on my OP graphic, now passing on about 2100 is still a very strong possibility. There is however a second ascending line passing now at about 2430 that might also be a long term support.
Buying at current value is a very risky business. The trend is still bearish. Fight it at your risk.
But don't trust me. This isn't a recommendation. Do your homework.

[exstasie]

The long term ascending line shown on my OP graphic, now passing on about 2100 is still a very strong possibility. There is however a second ascending line passing now at about 2430 that might also be a long term support.

I find trend lines to be unreliable S/R; I really only look at horizontal levels and moving averages. A short-lived dump into the $2,000s is very possible, and probably even likely. But I don't think there are any real price supports there, so it's anyone's guess where the exact bottom might be. I'm just operating under the assumption that just like 2015, any dumps below the 200-week MA will get bought back up.

[arpon11]

I think you are some how a bit right in your predictions.  Cryptocoins market is volatile market and few that has been following the market understand to some extent and to be right in our predictions is a hard thing to do.  I think bitcoin might go as low as around $2700 if care is not taking because the buying power is still very low.  Traders are looking for any little opportunity to dump and that is why the market is currently stagnant.

[Crashing]

Don't take this as a recommendation but there seem to be some indications that the bottom might have been made, contrary to my expectations that bitcoin could go to 2000 (see OP and other posts). I don't think that bitcoin is going to go up seriously during 2019, but perhaps it will start a painful recovery that will take more than one year to go back to 10,000. It was something like this that happened in the past every time we had a major crash.
I still expect a fall to at least 3930 perhaps even 3600, but the risk/reward might worth taking a small position with a long term perspective, at least at those values. In order to increase it as the price breaks 4250 and then 4500.

As usual don't trust me. This isn't a recommendation. Do your homework.

[TravelMug]

Don't take this as a recommendation but there seem to be some indications that the bottom might have been made, contrary to my expectations that bitcoin could go to 2000 (see OP and other posts). I don't think that bitcoin is going to go up seriously during 2019, but perhaps it will start a painful recovery that will take more than one year to go back to 10,000. It was something like this that happened in the past every time we had a major crash.
I still expect a fall to at least 3930 perhaps even 3600, but the risk/reward might worth taking a small position with a long term perspective, at least at those values. In order to increase it as the price breaks 4250 and then 4500.

As usual don't trust me. This isn't a recommendation. Do your homework.

At least you made sense this time. 

Yes, probably the last bottom is already in. I'm fine with the long and grinding recovery leading to 5 digits again. By experience we know that a sudden burst in price is not good for all of us, just like what we saw in December 2017. It could fall, but I'm not expecting it to go further below the last all-time-high, probably $3600-$3700 will be a big resistance now.

[LUCKMCFLY]

Don't take this as a recommendation but there seem to be some indications that the bottom might have been made, contrary to my expectations that bitcoin could go to 2000 (see OP and other posts). I don't think that bitcoin is going to go up seriously during 2019, but perhaps it will start a painful recovery that will take more than one year to go back to 10,000. It was something like this that happened in the past every time we had a major crash.
I still expect a fall to at least 3930 perhaps even 3600, but the risk/reward might worth taking a small position with a long term perspective, at least at those values. In order to increase it as the price breaks 4250 and then 4500.

As usual don't trust me. This isn't a recommendation. Do your homework.

At least you made sense this time. 

Yes, probably the last bottom is already in. I'm fine with the long and grinding recovery leading to 5 digits again. By experience we know that a sudden burst in price is not good for all of us, just like what we saw in December 2017. It could fall, but I'm not expecting it to go further below the last all-time-high, probably $3600-$3700 will be a big resistance now.

I think the same, seeing the liquidity that can present in such a large resistance of $ 3.6ka $ 3.7k represents a powerful area to hold any crash, however, when analyzing the volume, the price has gradually increased without volume, indicating that no there is supply at lower price levels.

Now if a crash occurs the most that can fall is up to about $ 2.8k, since after there, according to Malkiel Burton author of "A random walk by Wall Streeth" would be wiping out the castles in the air of people, and every operator of the  market takes into account that a possible crash is to buy cheaper and be able to raise the price to take profit, is what is always sought.

[omonuyak]

It seems this your prediction come to pass and it is the right views about the current price situation I have seeing in the long time.  The long bearish conditions at the bottom is what we are witnessing now and bitcoin is a bit recovery currently.

[ajqjjj]

It seems this your prediction come to pass and it is the right views about the current price situation I have seeing in the long time.  The long bearish conditions at the bottom is what we are witnessing now and bitcoin is a bit recovery currently.

Crypto economy was grow in this year but no one is forgot the last year dump. Because day by day peoples are adopt the crypto technology so they are all trying buy some Bitcoin but big holders are just sell the huge investment in single time so it will move to backward and again it takes some time to recover so better to legalized in Bitcoin this will going to moon.

[Crashing]

Don't take this as a recommendation but there seem to be some indications that the bottom might have been made, contrary to my expectations that bitcoin could go to 2000 (see OP and other posts). I don't think that bitcoin is going to go up seriously during 2019, but perhaps it will start a painful recovery that will take more than one year to go back to 10,000. It was something like this that happened in the past every time we had a major crash.
I still expect a fall to at least 3930 perhaps even 3600, but the risk/reward might worth taking a small position with a long term perspective, at least at those values. In order to increase it as the price breaks 4250 and then 4500.

As usual don't trust me. This isn't a recommendation. Do your homework.

As I wrote on this post, about 45 days ago, I think that the crash is over. That we are going to repeat the slow recover of 2016.
This means that this time seems to be different and that we won't have a full year like on 2015 of simple consolidation.
But I suspect that we are going to have a hard time breaching 8500 and then 10000 usd.
Since this is going to be a slow recovery, expect some falls. It won't be an easy ride.

But if I'm right, it's time to buy and hold. It might take more than 1 year, but if we break 10000 usd, we will go up, perhaps to test the all time high.

As usual don't trust me. This isn't a recommendation. Do your homework.

[omonuyak]

OP, I am with you on the success of your on your "long term to $1700" prediction. Because like you, I also want to buy some cheap Bitcoins.

Never stop and never surrender, if you pray hard enough, your wish might become true. Hahaha.

Remember that God is the one answered prayers and he is a just God and that means even if you pray and the effects of your prayers is going to affect others there is no need of making those prayers.  Bitcoin may not get to $1700 again and I think it is now on the way back up again.

[1Referee]

Bitcoin may not get to $1700 again and I think it is now on the way back up again.

How different was that when we were going towards the $3000 level fast last year? People were so bearish that many of them believed that it was only a matter of weeks before we would tank below the $2000 level. Some even dared to point at ~$800 to be a realistic target.

It's going to be interesting to see how the market will move from here. Below $4000 people were super bearish, currently they are super bullish. If the mass is still functioning as counter indicator, we might be up for a surprise pretty soon. If the bulls keep ignoring various oversold indicators, which they have for a while now, shorters might find themselves on the wrong side of the fence.

Shorts have been accumulating rapidly and this might fuel a higher move with a short squeeze shooting the price past $6000 like there has not been any resistance at all.

[Adriano2010]

I always say that bitcoin will continue grow even from March, but now is something that happen and i can't say for sure that will grow more or will go down, because even go to 7500 and after to 7300$, need to wait and see. But maybe level 8000$ will be pass before of end of month.