Don't Fomo , 3800$ incoming ?

[mikeywith]

I dont believe we are going to see 3k again.

Maybe we can go back to $4200, but not lower than that.

4200$ - 3800$ = 400$ in crypto that is nothing, we may not close below 4.2k but chances are if we go that low a wick through the upper 3k area is very possible, having said that, one shouldn't care much about exact numbers, just watch for potential reversal signals.

[coinplus]

Bear has been gone for a long time now, its not coming back and you better believe it. Looking at charts and saying something about the future of bitcoin has always been wrong because charts can show you whatever you want to show according to the indicators you use. I can show you two charts right now that will tell you that either its going up or going down and each will look real.

Nonetheless, the reality is what changes bitcoin prices is the movements of the people not the charts, people do not react according to charts they react according to trends and if prices goes up a bit then it goes up a lot more afterwards which happens when going down as well. That is why I think since we are on a bull run right now its going to go down anymore, not now at least and now that low, it will continue going up for a little more and then when it goes down it will definitely happen way after and drop only maybe to these prices not any lower.

[hatshepsut93]

If we'll see high 3k - low 4k again, how long do you think it will last? A lot of people are waiting for a big bull run around next halvening, which will be in a year, would this mean that there's only very little time left for the bear market? Or it can still last throughout the current year in the worst case?

[1Referee]

Bear has been gone for a long time now, its not coming back and you better believe it.

Just like how the bulls have never left the market, the bears similarly haven't either. The thing with charts is that you can make it look as bearish or bullish as you want, and technically speaking, the $5600 high that we reached a few days ago could also be a lower high with a wider time frame chart.

Looking at charts and saying something about the future of bitcoin has always been wrong because charts can show you whatever you want to show according to the indicators you use.

Uh, the trend is your friend, that matters not only in crypto, but basically every other market. Not sure how you can be wrong all the time if you follow that. If you're referring to people such as Tom Lee being always wrong, then sure, but he's a nutter who doesn't know what matters here. He sticks to the metrics that held value during the bull run, but are worthless right now.

Nonetheless, the reality is what changes bitcoin prices is the movements of the people not the charts, people do not react according to charts they react according to trends and if prices goes up a bit then it goes up a lot more afterwards which happens when going down as well. That is why I think since we are on a bull run right now its going to go down anymore, not now at least and now that low, it will continue going up for a little more and then when it goes down it will definitely happen way after and drop only maybe to these prices not any lower.

Bots move the market. They trade based on what the charts tell them. Bots trigger green/red candles, people then follow by panic selling or fomo buying.

There is a famous saying that I like;

Show me the charts and I'll tell you the news.

-Bernard Baruch.

[ryzaadit]

A few months ago, don't buy bitcoin at $3800 we all going to under $3000. But the reality, the market makes a good rebounce and all short trader getting rekt must buying on a FOMO. Sometimes chart with the reality it's really different, to be honest, i still on positive minds. These down just because BITFINEX problem and market react into that news.

[Oilacris]

let's see what you guys got to say about this, hopping to see some counter-TA and not some crystal ball or my girlfriend thinks so b.s  .

also, moon guys, don't hate , i am trying just trying to warn you about a very possible scenario.
Good luck

Moon guys do really hate these kind of low price predictions which it do give out bad mood for them. 

Btc price didn't able to succeed to break out that resistance of $5600 and instead it did bumped down but its still not an assurance that it would head go back to $3500 basing on technicals.
A long way to go down and I believe that theres already a strong buy support on $4500-4800 atm.

[Osarman]

For the fact that we saw a dip in the price of bitcoin doesn't mean that bitcoin will get back to $3800, I don't think we might see bitcoin within the $3000 range anymore, bitcoin has already built a resistance around $4000 and we aren't going to go below that, but what I know won't happen so quick is the bull run in price we are supposed to see this year, but I am definitely sure we are going to see it in this year.

[Slow death]

I wasn't really seeing a $3800 price point in a short-mid term period, as I was expecting a bit more upside to probably $6000, but after the new Tether news, $3800 has been definitely increasingly and increasingly possible in my opinion.

Do you remember when the price was $3400? What was the opinion of most people? most people said that the price would fall to $2,500 and then fall to $1000. and other people said it was the end of bitcoin. The price does not fall below to $3000. but the price increased to the point of having increased without any good news like as usual and this should serve as a great lesson for us all, in this market the chances of some prediction coming true is very small


I prefer to wait the next few days to see how the price will behave, but I highly doubt that it will fall to $3800

[magneto]

looking back at july 2015 , we can see that right after testing the 50SMA we head straight back to the 200SMA , which now sits at around 3600$ , but with a bit of room till the price gets there, it should be at around 3700$-3800$ , also notice that we can have a wick like we did back then, that wick can go to as low as 3300$.


this , plus being at probably the strongest resistance area that we had since day 1 in bitcoin , breaking that from the first trial is not very possible, a good run of correction to the down side is very high likely going to happen.


so don't fomo, don't panic, if the 2015 chart is to repeat itself, in about a month from now, we should mark the our bull-market-starting-point.



*This set up gets invalidated if we close above 6k
*a correction is very likely, but no guarantee we going that low , so buying at possible support areas is the best practice.

After every rally there will be a period of time where prices regresses to around the prices pre-rally, and consolidates there. We've seen this countless times, especially when it comes to the early stages of a bull market.

I see a lot of people panicking already which just makes absolutely no sense to me. It's almost like just because of around a month of bullishness they forget that these types of gains are unsustainable in the long run, and adjustments short term are imminent.

I think that there is a high likelihood the $5k support will get tested, and potentially be breached. I don't think that it'll go anything below $4k at this point because support there has been proven previously to be quite strong. Though, the bolded part should be taken as advice. Average out your buys when you see a dip, because at the end of the day, the long run outlook is bullish.

[Kemarit]

I wasn't really seeing a $3800 price point in a short-mid term period, as I was expecting a bit more upside to probably $6000, but after the new Tether news, $3800 has been definitely increasingly and increasingly possible in my opinion.

Do you remember when the price was $3400? What was the opinion of most people? most people said that the price would fall to $2,500 and then fall to $1000. and other people said it was the end of bitcoin. The price does not fall below to $3000. but the price increased to the point of having increased without any good news like as usual and this should serve as a great lesson for us all, in this market the chances of some prediction coming true is very small


I prefer to wait the next few days to see how the price will behave, but I highly doubt that it will fall to $3800

This one. It's barely what 24 hours since the news came out. $5200 seems to be a strong support so I doubt that the price will go below $5000 now. Just momentarily lapses for traders to panic, or they're just simply booking their profits. And I do think that this news won't deter investors, the market is in the bullish zone for two months now without any good news so it will continue to grow and not touch $3800, IHMO.

[Adriano2010]

No i don't think the price will go to 3800$, i also think will not go under 4500$ even if more and more coins will be selled, as i read that drop maybe was caused by Bitfinex and Tether problem.

[mikeywith]

I can show you two charts right now that will tell you that either its going up or going down and each will look real.

please do , i want to see a single piece of technical explanation that supports your claims.

i read that drop maybe was caused by Bitfinex and Tether problem.

no it was caused by the chart > https://bitcointalk.org/index.php?topic=5125728.msg50740023#msg50740023

i started shorting before the news were out, probably everyone who knows how to trade was shorting bitcoin, the news only add a bit to it, but if it's not in the charts then the news can't do it alone, believe it or not is your problem 

[bitbunnny]

No i don't think the price will go to 3800$, i also think will not go under 4500$ even if more and more coins will be selled, as i read that drop maybe was caused by Bitfinex and Tether problem.

Currently market isn't showing some signs that it could dropp to 3800$ or lower. But again, if that happened I wouldn't be surprised. Such price fluctuations are quite often and usual I would say but maybe some precise technical analysis could tell us more.

[wheelz1200]

I dont know how people still say the word never with price predictions.  Nothing is impossible in crypto.  To think resistance levels means a whole lot is naive as well.  One crazy event happens and all resistence will be pulled.

[mindrust]

$3800 is indeed in the realm of possibilities. To be honest, I am also waiting for that price point before I buy some serious stacks. It is not a certain thing but I'd say the possibilites for it to happen is higher than %50. Maybe not exactly $3800 but $3920 or $4100 for example.

I would start filling up my bags as soon as it falls below $4500.

[bitcoin31]

No i don't think the price will go to 3800$, i also think will not go under 4500$ even if more and more coins will be selled, as i read that drop maybe was caused by Bitfinex and Tether problem.

$3800 is still high than the price last few years ago. But now it is not good see because we are expecting bull run so for me too that amount price of the bitcoin not happen . Other maybe believe but we are believers too and we think bitcoin goes up and not goes down this year.

[Oceat]

If there is a sudden news that could trigger a FOMO then we will be seeing that $3800 again and we will be back at the bearish market then. The market is always acting this way it's very unpredictable and the news is always triggering something even though it is just a rumor. People nowadays should do their own research to avoid FOMO and FUD.

[creeps]

$3,800 won’t happen in my opinion, I think we could return to mid $4,000’s but $3.800 is too low & there will be lots of buy support before we reach that kind of price.

Before the pump we are stable on $3k level so if there’ a true bearish trend again then we can expect the worst price that we should also be ready. We can’t just think for continue pump,i’ve learned before that if we pumped high, we will also dumped. FOMO is not good on any level, if $3k level was hit again continue to buy its another golden opportunity for us to invest with huge volume.

[exstasie]

I wasn't really seeing a $3800 price point in a short-mid term period, as I was expecting a bit more upside to probably $6000, but after the new Tether news, $3800 has been definitely increasingly and increasingly possible in my opinion. I'm so conflicted on what to do right now.

Bitfinex Used Tether Reserves to Mask Missing $850 Million, Probe Finds: https://www.reddit.com/r/CryptoCurrency/comments/bhe6qc/bitfinex_used_tether_reserves_to_mask_missing_850/

It looks like they did it in the same way they recovered from the hack a few years ago. They issued Bitfinex equity to Tether and used that to cover the difference. It feels a lot slimier this time now that they did it privately behind closed doors with no transparency.

Interestingly, the effect of this sort of FUD on price can be the reverse of what's expected. Bitfinex and Tether are firmly entrenched in the exchange ecosystem and represent a lot of value. So a flight into crypto from USDT and Bitfinex fiat can drive prices up rather than down.

[Johnzky]

Correction is really needed for bitcoin price movements so that the increase is healthier. All possibilities of various predictions are still very open to occur someday. Let's see what will happen. However, I hope the scenario you show doesn't happen and the price of bitcoin can reach $ 6k in the next few weeks.

We’re going green again today so if this go straight basically what OP said might not happen

I also believe that we already hit the bottom at $3k so we dont have another one for now,and what we have is bullish.
But if this will going to happen then my last option is to buy again to add another profit in bull