Could this be the inverse hNs ? Back to 5K Reversal ?

[Agarthian]

Could it be.... 




The panic created by rotschild calling it a bubble etc, so they can buy it cheaper might have ended.

Not sure yet but some greedy bears still want crypto to go lower but in the short term we could see a relief rally to lower 5Ks


What do you guys think ?


Its all psychology based so the majority thinks it will pump it will.

[1714171248]

1714171248

[1714171248]

1714171248

[1714171248]

1714171248

[Herbert2020]

there is always going to be a bunch of greedy bear whales who want to short bitcoin or want to buy cheaper bitcoin and accumulate more. it is true at literary all the times. the difference is that they are not the only players in the market and as soon as the market sentiment changes and the trend reverses in the other direction, they will have to stop or be crushed by it.

it has little to do with "psychology" in my opinion. it is mostly naivete accompanied by greed and small size of the market which makes it easy to manipulate if you have enough money.

[adaseb]

Yes many think this is an inverse head and shoulders pattern on the daily. The neckline is somewhere around $4150 depending on which exchange you are looking at.

Either $4150 or the $4200 is going to be huge resistance and if it clears should pave the way for $5000, and then maybe re-test the old support of $5800-$6000. However lately there is too much chop and most days like today, there is very little range.

[DeathAngel]

$5,000 would be great, I don’t do charts unfortunately but I’ll be very happy to see $5,000 again. I don’t see why we can stay in this range for too long, it’s simply too cheap.

[BitHodler]

$5,000 would be great, I don’t do charts unfortunately but I’ll be very happy to see $5,000 again. I don’t see why we can stay in this range for too long, it’s simply too cheap.

Sorry, but there is no such a thing as too cheap in the crypto world, and that applies to Bitcoin as well. $6000 was what people considered to be extremely low before we broke that price level, and look where we are now....

People usually look at the price and think that an 80-90% crash is all there is, but they completely ignore that whatever coin it concerns, it can easily go down another 50% from where it is today.

The only way to find out whether or not current levels are cheap is to have the price recover, but then again, it means that you missed out on that opportunity already. Whatever you end up doing, dollar cost averaging is the only proper way to invest.

[Supercrypt]

The panic created by rotschild calling it a bubble etc, so they can buy it cheaper might have ended.

Not sure yet but some greedy bears still want crypto to go lower but in the short term we could see a relief rally to lower 5Ks


What do you guys think ?


Its all psychology based so the majority thinks it will pump it will.

I doubt it was created due to rothschilds and all, I do not really like the conspiracy theories.

People sold their coins themselves, nobody forced them to sell. The only reason why the drop was so fast that 20 thousand dollars was basically a limit for bitcoin that needed to be corrected and at the same time short futures became a thing at bitmex and made it possible for rich people to buy short futures and make money from price drops which made the drop so much faster since those people sold their thousands of bitcoins all at once and bought bitmex shorts at the same time and made double the profit.

It is shown and we have conclusive data with proof of that keep happening all year last year. They are gone now and people are not doing that anymore since its a lot harder to drop from $4k to $3k instead of $20k to $6k.

[exstasie]

Could it be.... 

It certainly could be. Peter Brandt and some others are pointing to the inverse H&S reversal, and the proportions of the pattern look okay. It still might get rejected at the neckline though. Bulls just tried to break out and failed. We need a clean break of $4,100 and then to hold above it to confirm. Then onward to $5K.

[eminemcookie]

Been stuck around 4k for 3+ days now, drop back to 3600-3700 coming in next day or two. The same pattern has been happening time and time again for the last few months.

[Febo]

The panic created by rotschild calling it a bubble etc, so they can buy it cheaper might have ended.

rotschild  who?   Who called a bubble what?  Do you have a link?

[exstasie]

It's time to pay attention. The market will make a decision soon as to whether the H&S will confirm or get rejected. It definitely isn't a slam dunk for the bulls. The 1-hour looks like crap; it was immediately sold down at the neckline. The daily candlestick just closed as a spinning top doji, indicating weakness and indecision:



Sadly, I'm starting to think this H&S formation will fail and we're going back to retest $3K. Prove me wrong, bulls!

[1Referee]

Sadly, I'm starting to think this H&S formation will fail and we're going back to retest $3K. Prove me wrong, bulls!

Why a retest of $3000? Why can't it just be moving sideways for a longer while without going down too much?

It seems that a lot of people are waiting and expecting $3000 to be tested, which boosts my confidence even further that it probably won't happen. Not saying that there is no chance that it will not happen, just less likely with how it offers a great counter move.

We have been setting lower highs for a while now, but at the same time also higher lows, so I would say that the next move is a matter of flipping a coin. It could go either way if we see a significant move.

[exstasie]

Sadly, I'm starting to think this H&S formation will fail and we're going back to retest $3K. Prove me wrong, bulls!

Why a retest of $3000? Why can't it just be moving sideways for a longer while without going down too much?

It could. That's just one possible path, one which I consider more likely than a tight range. That's because we just triggered new weekly and monthly downtrends and experienced the highest volatility the market has seen in a year. Volatility like that usually begets more volatility.

It seems that a lot of people are waiting and expecting $3000 to be tested, which boosts my confidence even further that it probably won't happen.

That's good. I'd prefer to see a bullish resolution here. I've been bullish and holding longs since mid-December. But seeing such weakness at the neckline gives me pause. This is a pretty classic setup for trapping longs; I've seen it play out many times so I won't take chances. I've rolled up my stop losses and will start hedging short if I see a pronounced failure on the 4H+ charts.

[Pursuer]

$5,000 would be great, I don’t do charts unfortunately but I’ll be very happy to see $5,000 again. I don’t see why we can stay in this range for too long, it’s simply too cheap.

Sorry, but there is no such a thing as too cheap in the crypto world, and that applies to Bitcoin as well. $6000 was what people considered to be extremely low before we broke that price level, and look where we are now....

People usually look at the price and think that an 80-90% crash is all there is, but they completely ignore that whatever coin it concerns, it can easily go down another 50% from where it is today.

The only way to find out whether or not current levels are cheap is to have the price recover, but then again, it means that you missed out on that opportunity already. Whatever you end up doing, dollar cost averaging is the only proper way to invest.

actually when it comes to cryptocurrencies, even bitcoin, when price goes lower it doesn't mean that it was natural and that new price is the new low. in this case I still call $6k the extremely low price and $9k the bottom of the correction which the drop should have ended there and worst case scenario at $8k. but we are involved in a very small market filled with manipulators that have more money than the size of the order books so they can be very effective in deciding what the "bottom" is.
in this case dropping below $6k was due to their manipulation combined with the bcash drama that caused the drop and then the price was kept down but suppressing any momentums. that doesn't make $3k a natural bottom in my opinion.

[Kemarit]

Been stuck around 4k for 3+ days now, drop back to 3600-3700 coming in next day or two. The same pattern has been happening time and time again for the last few months.

Let's see as @exstasie have said, this isn't slam dunk yet for the bulls. You mean we are trading sideways? Good indication though, as it really go on either direction. Of course we wanted to go it upward and retest $4200-$5000 so it's going to be interesting to see how will it do this time. We have the same pattern around the $6000-$6500 which eventually go on a downward spiral because of the Bitcoin Cash drama, but this time we don't have any so it's going to be exciting to see the price movement in the next 48 hours and see a good rally above the $4000's.

[adaseb]

If the head and shoulders pattern doesn't play out like the above poster noted then the only strong support is around the prior low made in December which was the weekly MA which held at $3100. So a double bottom here would be a good support level.

Right now the market is moving very erratically with huge %'s moves made in minutes and then sideways action for hours and usually these moves all end up fading; basically indicating low volumes in the markets.

If we can get a close above the $4200 or the $4500 area then we can be neutral and if $6000 breaks and stays above, then we can be bullish again. First time in 9 months pretty much.

[Slow death]

Could it be.... 




The panic created by rotschild calling it a bubble etc, so they can buy it cheaper might have ended.

about his theory, when the price was $ 1000 and dropped a little I heard people say that " whales " are making the price drop for buy more cheap bitcoins, the price increased to $ 3000 and it dropped little and I heard The same thing: the "whales" are making the price fall so they buy cheaper. then the price increased to $ 6000 and dropped and I heard the same thing, the price increased to $ 10,000 and dropped and I heard the same thing. Dude, until the price reached $18000 and drop to $ 15,000 I heard the same thing, whenever the price falls, blame the "whales"... is not it time to look at things from another angle?

Not sure yet but some greedy bears still want crypto to go lower...

if the price rises to  $5000 and fall they will say the same thing: "it is the whales who want the price to fall for them to buy cheap." It's always the fault of the whales. as I said before and I'll repeat, it's time to look at things from another angle

[eminemcookie]

Been stuck around 4k for 3+ days now, drop back to 3600-3700 coming in next day or two. The same pattern has been happening time and time again for the last few months.

Let's see as @exstasie have said, this isn't slam dunk yet for the bulls. You mean we are trading sideways? Good indication though, as it really go on either direction. Of course we wanted to go it upward and retest $4200-$5000 so it's going to be interesting to see how will it do this time. We have the same pattern around the $6000-$6500 which eventually go on a downward spiral because of the Bitcoin Cash drama, but this time we don't have any so it's going to be exciting to see the price movement in the next 48 hours and see a good rally above the $4000's.

Well the dip happened as I expected. I know that eventually this trend will change but I just see little in the way of bullishness in the market so we keep flip-flapping between support and resistance levels over the span of about 1 week. We had no drama for 2-3 months at 6k and no real movement. Who knows if the news that stimulates the next big move will be positive or negative.

[exstasie]

It's time to pay attention. The market will make a decision soon as to whether the H&S will confirm or get rejected. It definitely isn't a slam dunk for the bulls. The 1-hour looks like crap; it was immediately sold down at the neckline. The daily candlestick just closed as a spinning top doji, indicating weakness and indecision:

Sadly, I'm starting to think this H&S formation will fail and we're going back to retest $3K. Prove me wrong, bulls!

Bulls got steamrolled. The inverse H&S idea has been invalidated:



Still hedged short and waiting for some signs of life from the bulls. A higher low is definitely still possible and we could still be heading for $5K+ but it'll take a few days for this bearish momentum to peter out.

[BitHodler]

actually when it comes to cryptocurrencies, even bitcoin, when price goes lower it doesn't mean that it was natural and that new price is the new low. in this case I still call $6k the extremely low price and $9k the bottom of the correction which the drop should have ended there and worst case scenario at $8k.

It doesn't matter how the price went down, what matters is that we are where we are. What you describe has nothing to do with the reality, just what you believe would be a reflection of your preferred picture of the market.

but we are involved in a very small market filled with manipulators that have more money than the size of the order books so they can be very effective in deciding what the "bottom" is.
in this case dropping below $6k was due to their manipulation combined with the bcash drama that caused the drop and then the price was kept down but suppressing any momentums. that doesn't make $3k a natural bottom in my opinion.

Can you point me at a clear sign of manipulation that actually contributed to the massive selloff? Whales unloading bags in a market lacking liquidity always make the price dump harder.

If you have thousands of Bitcoins you want to unload as soon as possible, you have no other option to tank the price with 5-10% depending what exchange you use. That's not manipulation, just someone cashing out.

[mahilchii]

Is someone doing manipulation? Unfortunately the performances of top coins are going down that's unbelievable. The market is facing another crap once again, as lot of speculations are negatives like it will reach to 3k. Is it giving opportunity for buyers again?