[2018-11-16] Crypto Market Recovers, But Could Bitcoin Price Fall to $4,800?

[Lmaooo]

After recording one of the worst sell-offs in all of 2018, the crypto market has experienced a minor corrective rally, adding $8 billion to its valuation.

The Bitcoin (BTC) price is approaching a resistance level at $5,600, a minor resistance level BTC will have to surpass to potentially eye a rally to $5,800 and potentially re-enter the $6,000 region.

Since August, BTC had defended the $6,000 support level, which has since turned into a major resistance level. Hence, if BTC initiates a corrective rally throughout the next three to four days to the $6,000 level, then it will be possible for the dominant cryptocurrency to end 2018 with a positive note.

CCN | https://www.ccn.com/crypto-market-recovers-but-could-bitcoin-price-fall-to-4800/

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[Thekool1s]

I have a feeling that history is repeating itself. Not only we will see $4800 but we will go down to the $2000's. I believe the true bottom will be in the $2000's. Don't get me wrong. I am long on bitcoin but something tells me $2000 will be coming soon. The market will be tested and then we will grow from there.

[carlfebz2]

I have a feeling that history is repeating itself. Not only we will see $4800 but we will go down to the $2000's. I believe the true bottom will be in the $2000's. Don't get me wrong. I am long on bitcoin but something tells me $2000 will be coming soon. The market will be tested and then we will grow from there.

Believing we would heading lower than that and I do somehow assuming that $2000 or below will be much possible.I do rather treat this one as a
huge shake-off for creating such impact and panic in the market and I have seen some movements of whales that do accumulate cheap bitcoins as of now.
If we would able to hit up that other support or shall we say that it would able to break out then we would really head into 2014 prices possibly.

[Dilerium90]

If it is sensible to talk about the technical analysis of the market, it is clear how the price tends to go down and in my opinion we can easily reach the mark of $ 4000 or even lower. When panic begins, people are able to create anomalous things and make decisions based on emotions.