[13/10/2018] 3 Bitcoin Price Factors That Suggest Bears Are in Charge

[Lmaooo]

The prospect of a deeper drop in bitcoin prices has increased, the price-volume analysis indicates.

The world's most valuable cryptocurrency, which had been trading sideways since September 22, fell sharply to a three-week low of $6,220 on Bitfinex yesterday, confirming a range breakdown.

The technical indicators on the daily chart also turned bearish, validating a negative moving average crossover on the long duration charts. Essentially, bears regained control 24 hours ago, opening the doors to the key support of $6,000.

read the full article: https://www.coindesk.com/3-more-bitcoin-price-factors-suggest-bears-are-in-charge/

[J_Crypto]

In my opinion the fact that trading volumes have jumped means that bearish positions are strong, because a high volume price decline is always considered a strong negative indicator.

[dreamhouse]

Each technical analysis gives different opinions, there are plenty contradictory claims. I also saw some Elliott Wave analysts saying the Bitcoin is in the last fifth leg down, once completed, will start a new bull run. We'll see.

[BitHodler]

Each technical analysis gives different opinions, there are plenty contradictory claims. I also saw some Elliott Wave analysts saying the Bitcoin is in the last fifth leg down, once completed, will start a new bull run. We'll see.

The thing with those who keep themselves busy with technical analysis is that there is always an excuse to make up as to why their analysis was wrong. They'll keep guessing till they at some point guess right.

One day you read an article about how bulls have taken over, where the day after that you'll see articles pop up stating that the bears are back in town. It's the same nonsense they keep rehashing over and over again.

The thing with technical analysis is that depending on what time frame of the chart you use as reference, you can make it look as bullish or bearish as you want. It depends on people's mood which side they go with.

[cetald]

The prospect of a deeper drop in bitcoin prices has increased, the price-volume analysis indicates.

The world's most valuable cryptocurrency, which had been trading sideways since September 22, fell sharply to a three-week low of $6,220 on Bitfinex yesterday, confirming a range breakdown.

The technical indicators on the daily chart also turned bearish, validating a negative moving average crossover on the long duration charts. Essentially, bears regained control 24 hours ago, opening the doors to the key support of $6,000.

read the full article: https://www.coindesk.com/3-more-bitcoin-price-factors-suggest-bears-are-in-charge/

If there is no stimulating growth of news, then most likely Bitcoin can go to 5000-5500. And I have confidence that this will happen. But I think that he will not go below. This is a strong psychological level.

[carlfebz2]

Each technical analysis gives different opinions, there are plenty contradictory claims. I also saw some Elliott Wave analysts saying the Bitcoin is in the last fifth leg down, once completed, will start a new bull run. We'll see.

The thing with those who keep themselves busy with technical analysis is that there is always an excuse to make up as to why their analysis was wrong. They'll keep guessing till they at some point guess right.

One day you read an article about how bulls have taken over, where the day after that you'll see articles pop up stating that the bears are back in town. It's the same nonsense they keep rehashing over and over again.

The thing with technical analysis is that depending on what time frame of the chart you use as reference, you can make it look as bullish or bearish as you want. It depends on people's mood which side they go with.

Normal thing to happen on where we would really able to see or read up countless technical analysis on this very volatile and unpredictable market.People will really cover up or do make an excuse- same as you said until they would prove that they are right.Im ain't a technical type of trader because I had prove out how many times that on this speculative market theres no such thing to have that kind of technical analysis.
Bull run would start anytime soon but the question would still remained unanswered on when it would happen.There might be some significant factors or indicators but those aren't precise 100%.

[1Referee]

Bull run would start anytime soon but the question would still remained unanswered on when it would happen.There might be some significant factors or indicators but those aren't precise 100%.

The only way to make sure you catch the next bull run, is to buy as many coins as possible right now and to patiently wait. You can't time bull runs, but you can guarantee yourself an early seat by utilizing the market in its current form. The current stability that we can rely on between $6000-$7000 lends itself perfectly for accumulation purposes.

The block halving in 2020 is an extra factor of motivation to start accumulating right now. It might look far away, but the market starts climbing up far before the event actually takes place. OTC dealers and other parties will be out to fill up their reserves far before the block halving as well, and who knows, Bakkt might even be an extra trigger with their physically delivered Bitcoin futures.