We are Close To The Bottom:

[alexey14]

We are Close To The Bottom:

[gentlemand]

Who knows? But here's an interesting comparison chart that popped up today. There certainly are plenty of similarities to draw on there.

Anyone who's still here may as well stick around and wait it out anyway.

[Crashing]

Good charts, but don't forget that the price went down on those crashes and stayed down for about one year.
And I can't see any support at current prices. Only at about 2000 USDs.
IMHO, more down to come, after a bounce to make a three day green candle.

[Tytanowy Janusz]

I see support at 3k but in my opinion 3,5k holded pretty nice and might stop price for next few weeks. Chart looks very interresting. Thanks for sharing.

[TheAndy500]

Who knows? But here's an interesting comparison chart that popped up today. There certainly are plenty of similarities to draw on there.

Anyone who's still here may as well stick around and wait it out anyway.

Could you explain how the chart from Mt.gox from this year is on that picture?!?!   

It is very possible that the level of $3.5k is the current bottom, but it does not mean that it is the ultimate bottom. It is very likely that another wave will come soon. It will be a big increase and, unfortunately, an even bigger drop.. Even up to $1k! And in my opinion it will be a real bottom, which we should be afraid of.

[gentlemand]

Could you explain how the chart from Mt.gox from this year is on that picture?!?!   

It is very possible that the level of $3.5k is the current bottom, but it does not mean that it is the ultimate bottom. It is very likely that another wave will come soon. It will be a big increase and, unfortunately, an even bigger drop.. Even up to $1k! And in my opinion it will be a real bottom, which we should be afraid of.

Check the actual dates on the charts themselves, though it's a rather small pic.

No point in being afraid of a bottom. The more violent and alarming it is the more definitive it'll be. That's what we need after all this dicking around in nowheresville.

[Herbert2020]

if by bottom you mean the lowest price after a bubble correction then we used to be close to the bottom. now we are far from it because we are past the bottom. in other words the current price is below the bottom which was $6k!

if by bottom you mean the lowest price that bitcoin can reach in this manipulation phase then it is impossible to say. it can be $3400 that was already set, it can be $2k, or $1k or possibly even lower. although below that would be extremely hard but when whale manipulators are hard at work they can do anything.

the real question in my opinion is how long can they keep it up?

[LeGaulois]

Others markets (in the same situation than the crypto market) still think they didn't reach their bottom.
Don't know but yesterday the whole market was down by ~15% and this morning it's up by ~15% (Monday?). Too bad I missed few orders yesterday. Bottom or not we still cannot be fixed on what's path the market is going to follow.

[supermine]

I think we got hit the bottom already now the prices is again moving over $3800 so which is the start of bull run maybe so get ready for the bull run before it start by buying the coins on your own or you will regret it later.

[jimbo2000]

TA suggests that $2500-$3500 could be the bottom. That would have allowed the price to come back down all the way to a level it was previously secure at and a bottom that had been tested previously. The comparison from previous crashes is interesting, though if that holds true it would mean another 1-2 years of very slow growth. Though that beats the current trend.

[talkbitcoin]

that may be the case but usually in cases like this i ask myself this question:
why did the price went down in first place? and then whether that reason is still valid.

in this case the reason in my opinion was manipulation and panic because of FUD. and when that happens there no longer is any bottom. we are in an unpredictable state!

[Wilhelm]

that may be the case but usually in cases like this i ask myself this question:
why did the price went down in first place? and then whether that reason is still valid.

in this case the reason in my opinion was manipulation and panic because of FUD. and when that happens there no longer is any bottom. we are in an unpredictable state!

I think we are in a pretty predictable state.
- No real reason to doubt Bitcoin tech
- FUD and despair
- End of year (people need real money for christmas, etc.)
- A lot of similarities with the previous trend reversal after the last ATH crash.

We are about to witness a reversal in trend. Trend will mildly go upward and mostly it will go sideways.

I do not believe we will go below $2k (hopefully not $3k)

[Semaj123]

TA suggests that $2500-$3500 could be the bottom. That would have allowed the price to come back down all the way to a level it was previously secure at and a bottom that had been tested previously. The comparison from previous crashes is interesting, though if that holds true it would mean another 1-2 years of very slow growth. Though that beats the current trend.

Either way around, let's just hope big whales will start to make some actions that will help the price to increased. On the other side, hopefully its value already reached the bottom and could start to see some increased in order for us to at least make our mind be sometime relaxed.

[talkbitcoin]

that may be the case but usually in cases like this i ask myself this question:
why did the price went down in first place? and then whether that reason is still valid.

in this case the reason in my opinion was manipulation and panic because of FUD. and when that happens there no longer is any bottom. we are in an unpredictable state!

I think we are in a pretty predictable state.
- No real reason to doubt Bitcoin tech
- FUD and despair
- End of year (people need real money for christmas, etc.)
- A lot of similarities with the previous trend reversal after the last ATH crash.

We are about to witness a reversal in trend. Trend will mildly go upward and mostly it will go sideways.

I do not believe we will go below $2k (hopefully not $3k)

with that last statement you are confirming that we are actually NOT in a predictable state. otherwise you could have said $3400ish was the bottom and the trend has indeed reversed. but you can not say that and that means unpredictability.
the same manipulators who dumped the price so far can decide to dump more and keep it down for a longer time or they may run out of power and the price can reverse upwards towards real bottom at $6k...

[buwaytress]

Actually totally missed out on that bottom as was just too busy on the weekend. Woke up today and saw the 6.5% bounce. Still feel we're not done yet testing the depths and actually would have felt far better had price just levelled off there. This quick rise to the top suggests people are really happy to take profit at 4k before diving back in. That dive might be a bit too deep for my liking when we're not even in December!

[NeuroticFish]

Who knows? But here's an interesting comparison chart that popped up today. There certainly are plenty of similarities to draw on there.

This would mean that one entire unpleasant year for the markets is still ahead of us.
On another hand this would also mean that the next ATH should be over 300k. Hmmm...

[Wilhelm]

that may be the case but usually in cases like this i ask myself this question:
why did the price went down in first place? and then whether that reason is still valid.

in this case the reason in my opinion was manipulation and panic because of FUD. and when that happens there no longer is any bottom. we are in an unpredictable state!

I think we are in a pretty predictable state.
- No real reason to doubt Bitcoin tech
- FUD and despair
- End of year (people need real money for christmas, etc.)
- A lot of similarities with the previous trend reversal after the last ATH crash.

We are about to witness a reversal in trend. Trend will mildly go upward and mostly it will go sideways.

I do not believe we will go below $2k (hopefully not $3k)

with that last statement you are confirming that we are actually NOT in a predictable state. otherwise you could have said $3400ish was the bottom and the trend has indeed reversed. but you can not say that and that means unpredictability.
the same manipulators who dumped the price so far can decide to dump more and keep it down for a longer time or they may run out of power and the price can reverse upwards towards real bottom at $6k...

In my opinion unpredictable means that you have no clue whatsoever on what is going to happen.
It is obvious that we are close to or at the bottom or have hit it and the trend will reverse.
All the FUD is a great indicator for this.

And in fact I do believe that we have hit the bottom and the bottom might get aggressively retested. That is why I mentioned the $2k. Whales are going to keep on pushing until they can't get lower.

So for me it is predictable (as far as stock price predictability goes)

[Febo]

We are Close To The Bottom:

We are definitely closer then was a week ago. Considering time of the even and the price of Bitcoin at the event.

[STT]

Extreme Fear when we are bullish on a yearly basis.  Yea you make a fair point with this I think  


Here is my view of recent days and its battle through Fib levels -



I'll go along with a rough take of 3850 and above is a positive move but obviously there is a serious of battles on varied timescales between sellers and buyers and all the various parties on either side

[exstasie]

We might be close, but we haven't hit the bottom yet.

Pull up a daily candle chart and look at the February 5th bottom. Note the huge volume climax and the large-range hammer candle. That's what a bottom looks like in BTC. Huge volume exchange = everyone who wants to sell already sold, and the hammer = everyone (capitulated bulls, shorters, etc) is chasing price upward now.

The current chart looks nothing like that. It's still droopy as hell.