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Author Topic: $3k range the new $6k range?  (Read 518 times)
WinslowIII
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January 03, 2019, 05:22:19 PM
 #1

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?
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January 03, 2019, 09:26:40 PM
Merited by mikeywith (5)
 #2

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

After the volatility we saw in November, we shouldn't expect a narrow range (like October 2018) to develop immediately.

We're in the early stages of a new trading range, but it's too early to say where the "mode" or middle of the range is. It may take some whipsawing around first, but I'm expecting a run to the upper $4,000s or $5,000s. After we establish a swing high (the top of the range), we'll be able to tell a lot more.

Which way will it break? My guess is this will be an accumulation range, a long term bottom. But we may end up temporarily punching below the $3,122 low all the same.

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January 03, 2019, 10:54:00 PM
 #3

We have been suffering too much of this bear market, I think it's the right time for the bull to run. Though nobody knows when it will eventually going to occur this year, we just have to wait and see if there is a change of that stable price of $3k. It might break a new resistance, who knows. We will eventually see the bullish market soon.



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January 04, 2019, 07:11:13 AM
 #4

This is what happens,when almost nobody wants to buy btc+we still have many btc hodlers.Price stability.
If the hodlers decide to sell,the price might go down to 2K USD or 1K USD,because nobody would want to buy all that BTC.The whales will conitnue waiting for a lower bitcoin price.We might witness another price crash during the spring,followed by fast recovery.

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January 04, 2019, 07:30:23 AM
 #5

This is what happens,when almost nobody wants to buy btc+we still have many btc hodlers.Price stability.
If the hodlers decide to sell,the price might go down to 2K USD or 1K USD,because nobody would want to buy all that BTC.The whales will conitnue waiting for a lower bitcoin price.We might witness another price crash during the spring,followed by fast recovery.

It doesn't make sense to a hodler to dump their bitcoins as this price. And I think the the bears are exhausted at this point. Those who are selling right now are shorting bitcoin that's why we have been trading sideways for the past months.

Breaking upwards or downwards call is difficult to call at this point. Maybe if we hear Bakkt going live then it will be a upward trend otherwise if another postponement then we will see another sell-off, specially those who are tired of waiting.

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January 04, 2019, 12:12:53 PM
 #6

Do you think this same stability has begun to form over the next couple months in the mid $3ks?

Honestly, I'd prefer the price to be stable between $3,500 to $4,000 for many months, this could cause governments and banks to start looking bitcoin as less volatile and more merchants would accept bitcoin as a means of payment. I know most people think of high profits, but we have to start thinking about using bitcoin as a means of payments in the real world.




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January 04, 2019, 12:32:03 PM
 #7

After the volatility we saw in November, we shouldn't expect a narrow range (like October 2018) to develop immediately.

We're in the early stages of a new trading range, but it's too early to say where the "mode" or middle of the range is. It may take some whipsawing around first, but I'm expecting a run to the upper $4,000s or $5,000s. After we establish a swing high (the top of the range), we'll be able to tell a lot more.

Which way will it break? My guess is this will be an accumulation range, a long term bottom. But we may end up temporarily punching below the $3,122 low all the same.

Probably the summary I agree with the most - but I wouldn't discount a narrow range happening again so soon - from where I look, it's quite possible we'll get a lot of weeks padding up this current levels before price moves significantly. If this is the multi-year bear more people are believing it's shaping up to be, then we shouldn't expect any large moves in Bitcoin - the action could all happen with alts, though.

Definitely can't rule out a new low from last year's, and if that does happen, we should easily see $2,500 if not even sub 2k, though that shouldn't last long and will fill a lot of buy orders.

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January 04, 2019, 02:07:11 PM
 #8

Honestly, I'd prefer the price to be stable between $3,500 to $4,000 for many months, this could cause governments and banks to start looking bitcoin as less volatile and more merchants would accept bitcoin as a means of payment. I know most people think of high profits, but we have to start thinking about using bitcoin as a means of payments in the real world.
We have had months of extremely low volatility in Bitcoin last year, and it didn't change anything or anyone's perspective on how we should use Bitcoin differently. People were sick and tired of it.

Governments and banks don't really care about Bitcoin being stable or not. Governments just want to tighten the ecosystem around Bitcoin with regulations, and banks want to sell you products based on Bitcoin.

The more volatility there is, the more likely it is that people will buy coins from whatever centralized entity and enter the market, because that's what got people interested in it in the first place.

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January 04, 2019, 02:26:09 PM
 #9

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

Honestly what will happened for the next few months is kind of not a thing on my mind today since Im still considering the current trend as part of the effect of what happened on a sudden dip (ok let's say crash). "Disregarding" any proper chartings, the effect will last until 2nd quarter of the year.

But take note that all speculations on what will happened can be spoiled anytime no matter how properly backed it up. For let's say the price will break @4,500 , it will trigger something bullish for let's say around 40%. And other more guesses will be made thereafter with such explanation.

For now, since we are just sharing our thoughts, we should not take this as reference on our future strategy. What we must do is to make a strategy that will take advantage on every possible trend that might happened later on.

Goodluck everyone.

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January 04, 2019, 02:47:09 PM
 #10

I also think that this can happen, but maybe we need more time to reach 6000$ and, i hope to reach 6000$ range until the end of month and get bull run started next month. Anyway is better to wait if have some bitcoin and not sell now.

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January 04, 2019, 04:41:54 PM
 #11

Seeing how volatility has since been increasing day by day and price movements have had an air of predictability about them then I think we might be seeing the same situation arising. The difference now is that it's forming near a long term support level so the likelihood of a 50% price decrease like we saw before is a lot lower in my humble opinion.

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January 04, 2019, 05:30:41 PM
 #12

Seeing how volatility has since been increasing day by day and price movements have had an air of predictability about them then I think we might be seeing the same situation arising. The difference now is that it's forming near a long term support level so the likelihood of a 50% price decrease like we saw before is a lot lower in my humble opinion.

I do not think that 3k is new 6k. Infact I think we will soon exceed 6k and move upwards and be in the range of 5 digit mark which is due form long. This would be achieved now even if it had not reached in 2018. So as time has lapsed more so soon it will rise more or may be in couple of days it can rise like 4-5 k $.


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January 04, 2019, 05:50:42 PM
 #13

If you look at the charts, it's pretty common for Bitcoin to get stuck in certain ranged and only fluctuate by some 5-10%. So, $3.5k is indeed one of those ranged, just because it has been more than a month in here already. It's still not clear if this is the bottom or not, so the next big price change might be either a drop to below $3k or a jump to $5k. And we can't even know when exactly it will happen, it can easily last for months, because stagnation also happens on Bitcoin markets, or maybe we'll see a change very soon. Nothing is clear at this moment.

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January 04, 2019, 06:13:40 PM
 #14

Do you think this same stability has begun to form over the next couple months in the mid $3ks?
I think there's a big chance that we could stagnate around that range for a very long time unless there's a fomo inducing event that could trigger upward movement in the short-term, or if the bulls gain some momentum to push the price up over 4k like we saw a couple of weeks ago, back then I believe there wasn't enough momentum to continue the rally and that's why we went down again.

if so, will price break upwards to end this stable range or downwards, as it did last November?
It's hard to say, some people believe believe that we already found the bottom at 3.2k, some others still think that we could go further sub 2k to actually find the real bottom. I honestly think we're gonna test +4k again some time this month...just a gut feeling, maybe i'm just too optimistic.

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coinplus
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January 04, 2019, 06:28:59 PM
 #15

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?
I am scared about the same exact thing. If that happens again I am afraid that bitcoin could go down and we would have to find a new "$3k range" this time instead of $6k range. Where would we fall from here ? $1900 or something ? That would be really horrible for all of us and I wish none of that for us. I want to make sure we live in a world bitcoin has seen the lowest at $3200 and will never drop as much as $3200 again.

I remember a post I read here that showed the minimums each year and 2017 had a minimum of $700 and max of $20k whereas 2018 had a minimum of $3200 which means even though the high was really high 2017 had a lower low. I wish this $3200 bottom for the year stays otherwise this new $3k range could be really dangerous.

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WinslowIII
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January 04, 2019, 07:18:24 PM
 #16

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?
I am scared about the same exact thing. If that happens again I am afraid that bitcoin could go down and we would have to find a new "$3k range" this time instead of $6k range. Where would we fall from here ? $1900 or something ? That would be really horrible for all of us and I wish none of that for us. I want to make sure we live in a world bitcoin has seen the lowest at $3200 and will never drop as much as $3200 again.

I remember a post I read here that showed the minimums each year and 2017 had a minimum of $700 and max of $20k whereas 2018 had a minimum of $3200 which means even though the high was really high 2017 had a lower low. I wish this $3200 bottom for the year stays otherwise this new $3k range could be really dangerous.

I think your fear is going to be reality, but the good news is opportunity to enter the market at a cheap price. I'm expecting another few weeks in the $3ks followed by a fast crash down to the low $2ks, simply because the halving is so far away and there isn't any other compelling reason for a bull run to start this year.
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January 04, 2019, 07:21:17 PM
 #17

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

Think right now is more about stability, I think people are being very cautious with investments recently that's the main reason why there hasn't been any significant changes in these past month but after the stabilizing phase then things will get better.

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masterzino
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January 04, 2019, 07:59:55 PM
 #18

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

It's look that. 3-4 is the new stable range for now. I just hope to not see another plunge to the 'new stable' range of 1.5-2K.

My hopes are to see some upward movements in Q2-Q3 this year with ICO market recovery.

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WinslowIII
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January 04, 2019, 08:32:06 PM
 #19

For two months the price stayed in an uncharacteristicaly stable range in the mid $6ks, before the price was very quickly crashed into half, down into the $3ks. Do you think this same stability has begun to form over the next couple months in the mid $3ks? if so, will price break upwards to end this stable range or downwards, as it did last November?

It's look that. 3-4 is the new stable range for now. I just hope to not see another plunge to the 'new stable' range of 1.5-2K.

My hopes are to see some upward movements in Q2-Q3 this year with ICO market recovery.

If it's going to lower levels this year, the sooner the next plunge the better. The longer it sits in the mid $3ks, the more coins people will get fucked in the ass with when the next plunge happens. How do you think all those who bought in the $6ks feel right now?
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January 04, 2019, 08:56:42 PM
Merited by mikeywith (1)
 #20

I'm expecting another few weeks in the $3ks followed by a fast crash down to the low $2ks, simply because the halving is so far away and there isn't any other compelling reason for a bull run to start this year.

Even if there is no direct reason for the price to pump like mad, it doesn't mean it has to go down. It could just as easily continue to move sideways for for a while, marking higher lows, and eventually break out to the upper side and leave $3xxx prices behind for ever. People seem to be overly bearish which makes me even more confident that we won't be spending much time below the $4000 level anymore.

I'm sure that a lot of people (who are in fiat or USDT) right now are waiting for the price to fall down in order to buy more, and they might be up for a nasty surprise in case the price doesn't fall down much lower than what it is right now. If you don't buy right now, even if it is just a small amount, you are not doing the right thing to benefit from the prices as seen right now. Today it's available, tomorrow it might not. Smiley

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