BTC broke all major support lines, and the worse is yet to come.

[Cryptomilz]

Cryptos slowly cascading into the realm where Technical Analysis don't determine price actions. For crash that was grossly manipulated, TA don't play any role in determining how high or low it would go. I mean at the ATH $20K, no TA specialist will boast of prediction prices to get those levels.

[panganib999]

Yeah we need to be realistic, the broken support line seems going to make more panic situation for every traders, and I believe this is not the end of falling, but everything is just speculation, with this unstable market there are possibilities that the market is going to turn over sooner, so its important ti not fall into the fud news and start the panic sell

I think the supporting lines are just getting preparing for what is we are waiting for, the bull run. It is not panic that caused the trader and holder to sell so but the urge to push the bitcoin on its trigger point for skyrocketing. Bitcoin will not fall down as it already has the place to reign for so many more years even the market is really unstable. Market will bounce and that's for sure.

[jrrsparkles]

Yeah we need to be realistic, the broken support line seems going to make more panic situation for every traders, and I believe this is not the end of falling, but everything is just speculation, with this unstable market there are possibilities that the market is going to turn over sooner, so its important ti not fall into the fud news and start the panic sell

FOr a trader they should react for this kind of news in my opinion because we are predicting that the price not yet hit the bottom so it makes no sense to hold or buy more coins for traders so they should sell it and wait for the bottom to buy it back.I hope the bottom will not be too far from the current prices if not then the crypto market takes huge time period to get back the the cap same values as 2017.

[Olalomi]

Bitcoin has been defying all sorts of technical analysis right from onset thus its more of fundamentall analysis tends to be inclined to its Price Actions whenever there is a massive dump major support lines are easily broken by the price thus sending a wrong signals for TA traders that is why I prefers forex trading to crypto trading.

[macstrong12]

The next major support based on trading view analysis is around 4100$ and if it breaks to 3000$ channel , It could goes back around 2500 once more , and that would be tragic!

[gentlemand]

The next major support based on trading view analysis is around 4100$ and if it breaks to 3000$ channel , It could goes back around 2500 once more , and that would be tragic!

As long as it's rapid and brutal enough I could live with it. What would suck enormously is if it took month after nothing month to get there. That could be all too conceivable sadly.

[pundit]

Aaaand support lines keep getting broken it seems. I thought a new week would see us recover from that sudden plunge but the trend hasn't changed. Hopefully you're wrong dude but current happenings point out to exactly what you said.

The Support lines were broken all of sudden. This is not natural dump at all. I think it was manipulation by the big whales who want us to be panic and sell in panic. Once people will sell in panic, those whales will buy back all in cheap.

I agreed, this is a sudden dump after a long side trend, it seems manipulation by big whales, people will start selling in panic and it will become a good chance for these whales to buy it at cheap price, BTC will recover soon or later, it make take from some months to year, we should remain patient.

[Vishnu.Reang]

Aaaand support lines keep getting broken it seems. I thought a new week would see us recover from that sudden plunge but the trend hasn't changed. Hopefully you're wrong dude but current happenings point out to exactly what you said.

That's true, but still I am optimistic about the future. All it takes is a major trigger and the prices can easily cross the five-digit mark. Miracles can happen... such as an ETF approval from the SEC, or legalization in China.

[Slow death]

" BTC broke all major support lines, and the worse is yet to come. "

the worst is yet to come? we fall from $ 6500 to $ 4500, is that not the worst?

breaking lower the 4900 will easily take us to 2900-3100 which is a strong support formed on Sep 2017 from a previous resistance formed on June 2017

2900-3100?

this will be very bad, if the price drops to $3100 we will see a big panic sale and it will be very bad, I hope this does not happen and that the price stay above  $5000

[bitbunnny]

" BTC broke all major support lines, and the worse is yet to come. "

the worst is yet to come? we fall from $ 6500 to $ 4500, is that not the worst?

breaking lower the 4900 will easily take us to 2900-3100 which is a strong support formed on Sep 2017 from a previous resistance formed on June 2017

2900-3100?

this will be very bad, if the price drops to $3100 we will see a big panic sale and it will be very bad, I hope this does not happen and that the price stay above  $5000

I can't see the purpose of such posts except to spread the panic. Of course that everything is possible with Bitcoin price but so far there are no indicators that would point to such big dump. And as far as panic selling is concerned we can see that now already.

[abanansah]

If bitcoins keep breaking support lines in the next three consecutive support lines, then the hope of bitcoin resurrecting will be death. The worst has already begin with the fork of Bitcoin cash which has shake the crypto market.

[1Referee]

this will be very bad, if the price drops to $3100 we will see a big panic sale and it will be very bad, I hope this does not happen and that the price stay above  $5000

It doesn't have to be all that bad, because I am sure that ~$3000 is where bots will start to pool up so much buy support, that it very well may turn out to be the bottom. If you look at the charts of last year august/september, that's the level where the price found a bottom after a pretty harsh selloff tanking the price from $5000 to $3000.

The positive side of this selloff is that it grants investors certain taxation advantages, which somewhat makes me think that we won't be seeing any noteworthy increase this year.

I no longer plan to spend anything on black friday sales, but solely use my fiat to buy myself some more coins. Bitcoin at these levels offers more bang for your bucks.

[mikeywith]

" BTC broke all major support lines, and the worse is yet to come. "

the worst is yet to come? we fall from $ 6500 to $ 4500, is that not the worst?

breaking lower the 4900 will easily take us to 2900-3100 which is a strong support formed on Sep 2017 from a previous resistance formed on June 2017

2900-3100?

this will be very bad, if the price drops to $3100 we will see a big panic sale and it will be very bad, I hope this does not happen and that the price stay above  $5000

the only value that BTC can't go to is a negative number. anything from 0 to million is technically possible. when btc dropped from 19k to 10k we thought it was the bottom ! , 6k we were like okay this is the very bottom.

identifying the bottom is really difficult. but one thing for sure. as long as we are above 7500$ "prev high" , we are still in a bear market any there is no limit for how low we can go. but i am placing my bet on 2900-3100 to be the bottom of this bear market, somewhere around mid to end of 2019.

[astridwi]

many users still continue to dream of crypto and are trapped in a complex set of trends so they find it hard to think logically, when the crypto price drops seriously they cry and make panic sales. Current issues that overwrite crypto force all users to be more selective in choosing which crypto continues to be good and the ecosystem will eliminate many unproductive crypto to scam

[rodskee]

Nit only you expecting bitcoin will stay strong at price value 6000$ upto 6600$ before end of the year 2018
The contrate barrier of bitcoin will completely crack came from the people support
Well its part of volatile currency nibidy can control
All we had to do is kept faith and stay cooll to forget all stress

[marcbitcoins]

Yeah i feel it too that there is still more worst for this current price will come like if ETF products will be rejected again, the SEC is hunting down crypto related projects that are questionable and the increasing hacked exchanges all over the world. So brace yourselves so that we could endure the worst.

[haitranvan1998]

Yeah we need to be realistic, the broken support line seems going to make more panic situation for every traders, and I believe this is not the end of falling, but everything is just speculation, with this unstable market there are possibilities that the market is going to turn over sooner, so its important ti not fall into the fud news and start the panic sell

I also think like you, another time it will go down, or collapse, everything will collapse

[wuvdoll]

I do keep on saying this, there is no "support line" or "resistance" or anything in bitcoin.
You look at some charts and think that there is, but in reality you are very very much wrong. There is no chart, there is no indicator, there is no support line or resistance.

There are only whales. If a whale comes in and buys 2-3 billion dollar worth of bitcoin in the span of a week, do you know what will happen ? Next week the price will be $10k+ easily.

There is no indicator or support line for "2-3 billion dollar worth of bitcoin bought out of nowhere and none of us expected it". What could happen when someone sells billions of dollars in bitcoin is something we already saw this week so there is no need for an example. So you see, all those things you read on those charts are worthless, it all depends on couple rich people doing something.

[CryptoPowerL]

At the beginning of the year, many people waited at the end of 2018 for a repetition of last year’s bitcoin price increase. Initially, it was clear that after last year’s jump in prices, the market would not recover so quickly. The market is cyclical. Many draw conclusions based on their hopes, not from arguments.

[Reinz12]

If we look at bitcoin journey from 2017 to 2018 it might be shocked, but look from 2009, this is not a strange thing where bitcoin falls after ATH in certain years. It is possible to recover in 2019, but indeed 2018 is a year that is quite heavy compared to 2017