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

[exstasie]

Did you see the volume today? It was 6.5 billion! That's almost 10% of overall market cap. Is that a signal in TA?

Based on which exchanges?

On the exchanges I watch (Bitstamp, Bitfinex, Bitmex), volume was down yesterday vs. the day before. There's been decent volume on this bounce overall, but it still doesn't compare to the dumps earlier in the month. I was hoping to see a higher volume bottom, to be honest.

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[mikeywith]

Did you see the volume today? It was 6.5 billion! That's almost 10% of overall market cap. Is that a signal in TA?

Based on which exchanges?

On the exchanges I watch (Bitstamp, Bitfinex, Bitmex), volume was down yesterday vs. the day before. There's been decent volume on this bounce overall, but it still doesn't compare to the dumps earlier in the month. I was hoping to see a higher volume bottom, to be honest.

ok it was not exactly 6.5B , but anyway he means the total volume of major exchanges which is calculated by coinmarketcap.

here https://coinmarketcap.com/currencies/bitcoin/

[gamalzour]

A lot of investors has been quitting, this is really frustrating as people keep losing money day by day. Bull run has been predicted a lot of times but what we see every time is not we expect, it’s always the opposite of everything and the price has dropped low to $3735. I don’t even think there will be bull run like some are still predicting on December. I’m looking forward to next year as someone once predicted.

[likerseld]

This is what I've scared of. When bitcoin will fall down, I assume it will recover but I do not when it could be. There is no momentum for cryptocurrency as of now and we are all waiting for a news that will make the market green. Leaving cryptocurrency is such a fool decision, we must be positive no matter what happens.

Who really cares when? What matters is now and what matters in the long run is the future. I know things may be a little bit scary for some, but in the real sense, what is there to be scared of? We have a market that is certainly saying I have a lot of goodies to give out in the short term at very good price and then we have some people who are just busy forgetting the fact that the market's future is still very great and instead of taking advantage of it now, they are busy getting themselves worried over a market that is low in value just in the short term. If people cannot be taking advantage now, I wonder when they will

[cluit]

The volume is still better than what it used to be before all of this happened because people (specially the rich people) have been gathering bitcoin from these prices thinking it is a good low price to get to be prepared for the future. Do you know what tells ?

People believe that 4 thousand dollars is a much better place to buy compared to 6 thousand dollars, which tells me the price is barely moving anymore downwards because if it did there would be even more volume to buy, if people think 6 thousand dollars is a decent price point to get into and believe that 4 thousand is even greater don't you think same people would say it is AMAZING to buy from 3 thousand as well ? Of course there is still bad things going around and it would be really hard to convince people otherwise but we need to see the good in bad as well.

[MULTIK888]

The breakdown of important support levels should be expected because the trend is too steep up we have seen in recent years.
The reason for the breakdown in my opinion was the situation with the constant transfer of the date for ETF futures. The uptrend lasted more than 2 years and the break of the strong trend is a sign of a deep correction. But maybe it's for the better after a big correction there is always a chance of even more impulsive upward movement. We will wait, time will tell.

[mikeywith]

a zoom in the charts, for those who are interested in smaller time frames > https://bitcointalk.org/index.php?topic=5079220.new#new

[bkbirge]

I'm still targeting $3500 US but I will accumulate in small steps along the way also.

[mikeywith]

I'm still targeting $3500 US but I will accumulate in small steps along the way also.

if you are buying for the long run then its good to stat buying every dip, finding a perfect bottom is nearly impossible.

[Willitivity]

From the look of things, it seems clearly that the worst drop is about tk come. In the past few days, I have seen alot of news hinting to this. First of all, the sudden drop of bitcoin from $6k range down to $4k was very swift and many never expected it. The market is still very fluid, the bear is still strong, we might see further dips.

[hermankoles]

now the price is in the range of $ 3800 - $ 4500 and this has lasted 2 weeks, I am pessimistic the price will rise high at the end of the year, but what I always remember is that crypto can give us surprises anytime and anywhere

[nicster551]

A few  days ago i was still bullish on bitcoin as it stayed strong above major support  trend as well as horizontal support support of 5800$-6100$. the bulls defended that area for from the beginning of the dip on Feb, the long positions on that area were always big enough to bring price up as soon as it mingles around those prices.

this time however, it's pretty different. price went pass them like they were nothing. the area from  5800 to 6100 is has now formed a very strong resistance levels that do not seem to be broken before making a considerable low.

I do believe there could be one more bull-trap before we head down. but most likely nothing major.

The next support would be 4900 which happens to be both trend line as well as a horizntal support formed on Aug 2017 " previews resistance". yet i would not count on that to be a kick start for a new bull run. price will surely bounch back from there only for correction.

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, what's more interesting that price meets the concept of "history repeating it self" which is about 85% drop from ATH that started in late 2013.

this is the most likely scenario that i expect now, however the hardest part would be the timing. if history is to repeat itself then we will remain a bear market till around Sep 2019 before the next bull run starts.

-------------------------

From a fundamental point of view. recently Crypto has not made anything noticeable that could make it attracting enough to be 2-3 Trillion market.

we see new shit coins every day, most which has no purpose, many scam projects. and recently the hash-war of BCH is one simple example of why the world still think crypto is a risky and easily manipulated market.

we will need couple more months to clear out the path for the true vision of crypto for preparation of mass adoption. as with this situation,prices are as best as they get.


no fud here, just trying to point out the facts. i want nothing more than BTC going to 1 million over night. but this is just not happening.

being realistic can save you from future coming events that may break your heart.

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24/11/2018  9:55 pm (GMT)
UPDATE : BTC is down about 30% from the time I posted this, some moon boys probably did not like what i said, some said TA is B.S . but if even 1 person took my analysis seriously and benefited from this i am glad enough.

currently btc is trading at  3940$ on binance .

we will see some relief from here, but most likely only a bear flag that will only bring another dip.

my strategy is to buy into this market slowly as the bull run could happen any time, but major buys will be around 2900-3100$ .  i might increase my buying postion at 3500$ area if i see some good price action.


as i mentioned in one of the comments, the only way for BTC to really be in a bull market is with a daily close above 7500$ with some huge volume, aside from that any surge is nothing but a good chance to short.

All of that bears would be exhausted someday and it is time for all of the bulls to make Bitcoin great again and would make a lot of people happy.

[mikeywith]

From the look of things, it seems clearly that the worst drop is about tk come. In the past few days, I have seen alot of news hinting to this. First of all, the sudden drop of bitcoin from $6k range down to $4k was very swift and many never expected it. The market is still very fluid, the bear is still strong, we might see further dips.

you are right, by zooming out to the weekly chart, things do look worse

https://bitcointalk.org/index.php?topic=5080235.new#new

I would love to see breaking 3k and below. That would be the last capitulation. If price bounce from current levels to let say 5k we might further selling pressure from profit taking and scared investors.

yup the previous support that held for a whole year will be the worst Resistance for the bulls. the selling pressure around 5.5-6k will be stupidly high. only some major good news can beat it.

[Cliarbikr]

2018 for Bitcoin was the "bloody year." But the cryptocurrency price chart is repeated, the author of the post has already written about it. This is not the first crisis, look at the dynamics of Bitcoin for all the years and you will understand what I am talking about

[mikeywith]

We are approaching the 2900-3000 support zone,  which is the lowest part of the visible support zone, there is probably tons of SL and buy orders at the area.i expect a very high volume there, could be a very goo chance to go long for a quick scalp, but should we close below it, i'll be selling every thing !.

[Bonsaiav]

From a fundamental point of view. recently Crypto has not made anything noticeable that could make it attracting enough to be 2-3 Trillion market.

What you say is not wrong, but I have a strong belief that the price will increase in a way and time that we cannot predict before.

we will need couple more months to clear out the path for the true vision of crypto for preparation of mass adoption. as with this situation,prices are as best as they get.

True, it looks like 2019 will be a good year for the growth of cryptocurrency, especially for the price of bitcoin that we love.

we will see some relief from here, but most likely only a bear flag that will only bring another dip.

This thing is very likely to happen, but we should not only be fixated and focus on the decline, but we must also be optimistic and believe that the value of bitcoin will certainly increase to meet the expectations of everyone involved in it.

[gentlemand]

This thing is very likely to happen, but we should not only be fixated and focus on the decline, but we must also be optimistic and believe that the value of bitcoin will certainly increase to meet the expectations of everyone involved in it.

If you're a trader optimism shouldn't be coming into it. You owe it to yourself to be pragmatic. If you believe it's going to carry on falling then do something to capitalise on it. When optimism returns, and there are few signs for now, go and unemotionally milk that instead.

[ErmaburR]

https://i.imgur.com/7MurjVd.jpg




A few  days ago i was still bullish on bitcoin as it stayed strong above major support  trend as well as horizontal support support of 5800$-6100$. the bulls defended that area for from the beginning of the dip on Feb, the long positions on that area were always big enough to bring price up as soon as it mingles around those prices.

this time however, it's pretty different. price went pass them like they were nothing. the area from  5800 to 6100 is has now formed a very strong resistance levels that do not seem to be broken before making a considerable low.

I do believe there could be one more bull-trap before we head down. but most likely nothing major.

The next support would be 4900 which happens to be both trend line as well as a horizntal support formed on Aug 2017 " previews resistance". yet i would not count on that to be a kick start for a new bull run. price will surely bounch back from there only for correction.

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, what's more interesting that price meets the concept of "history repeating it self" which is about 85% drop from ATH that started in late 2013.

this is the most likely scenario that i expect now, however the hardest part would be the timing. if history is to repeat itself then we will remain a bear market till around Sep 2019 before the next bull run starts.

-------------------------

From a fundamental point of view. recently Crypto has not made anything noticeable that could make it attracting enough to be 2-3 Trillion market.

we see new shit coins every day, most which has no purpose, many scam projects. and recently the hash-war of BCH is one simple example of why the world still think crypto is a risky and easily manipulated market.

we will need couple more months to clear out the path for the true vision of crypto for preparation of mass adoption. as with this situation,prices are as best as they get.


no fud here, just trying to point out the facts. i want nothing more than BTC going to 1 million over night. but this is just not happening.

being realistic can save you from future coming events that may break your heart.

----------------------------------------------------------------------------------

24/11/2018  9:55 pm (GMT)
UPDATE : BTC is down about 30% from the time I posted this, some moon boys probably did not like what i said, some said TA is B.S . but if even 1 person took my analysis seriously and benefited from this i am glad enough.

currently btc is trading at  3940$ on binance .

we will see some relief from here, but most likely only a bear flag that will only bring another dip.

my strategy is to buy into this market slowly as the bull run could happen any time, but major buys will be around 2900-3100$ .  i might increase my buying postion at 3500$ area if i see some good price action.


as i mentioned in one of the comments, the only way for BTC to really be in a bull market is with a daily close above 7500$ with some huge volume, aside from that any surge is nothing but a good chance to short.

That line has already been broken, but this time around I think it wouldn’t go down anymore and won’t pass the current line. The next move might likely be upwards but nobody is sure about that yet. There have been predictions that bull will be anytime from now, but we don’t know when actually and it might not be this December.

[Crypto Girl]

2018 for Bitcoin was the "bloody year." But the cryptocurrency price chart is repeated, the author of the post has already written about it. This is not the first crisis, look at the dynamics of Bitcoin for all the years and you will understand what I am talking about

We only have few weeks to go before we end this year and despite of lot of good news the price is still on downtrend. So therefore, if you're a short term trader you'll stress out yourself from the crash but if you're a long term holder, you won't mind the current crash thus you'll accumulating more to hold.
Nice one for OP as his speculation happened, though doing TA isn't accurate but at least we have something that we can look into.

[ausbit]

I don’t know if the market is still going to drop below this $3,401. I hope this is the bottom price. What most of us expected to happen this year, it just didn’t happen how we expected it to happen. I thought that by now there would have been a Bull, but instead the price keeps dropping and has circulating between $3.3k and $3.6k. I hope it doesn’t go below that and drop down to $2k,cause that wouldn’t be a good thing for the market.