Bitcoin Bulls Near Exhaustion, Investors Should Be Wary

[LogitechMouse]

Well, it really happened. The Bulls are already exhausted and we saw that the price of not just Bitcoin but other cryptocurrencies on the top have drop more than 10% in these past few days.

I think the possible key support at this moment is at 6800 and if that goes below then a possible 4-5k is next but the possibilities are slim. I'm expecting for a quick bounce after this recent fall of the price of Bitcoin.

[exstasie]

Here are two possible scenarios: a bullish one, and a bearish one. Take your pick!

I'm leaning towards the bear case but bulls have a few days to save the weekly chart. Breaking and holding above the $8,350 area might do it.

Now, Bitcoin will not fall to 5 thousand again. The current fluctuations are a norm - we do not see that BTC is falling into the deep pit. In a couple of days, it will start growing again, even with a better speed than before.

Maybe not quite $5,000 but I think the low-mid $5000s are very possible, perhaps even likely. People think it's impossible right now because of recency bias but based on history, a correction like that would very typical.

[MidKnight]

Investors should know how their investments in trading works. It's not only this time that they should be concerned about but should be all the time. I'm not scaring the newbies or others but I'm just saying we should always be prepared but still be hopeful that the bull market is no over and people just see the latest value the right time for sell off.

[adaseb]

It was bound to pullback sometime eventually. Look at the bull market of 2017 in the second half of the year. Bitcoin was on a crazy bull run but it had huge pullbacks along the way.

I remember when it touched $5000 for the first time and about a week later it hit $3000 and people assumed $5K was the top but it quickly reversed from $3K to break the ATH about 3 weeks later.

So I am assuming this will be similar, we might get a nasty pullback but within a month should break the $9100 area we made last week.

[tonyja2017]

According to a recent Twitter post from Josh Olszewicz, an analyst at Brave New Coin, Bitcoin’s one-day chart is starting to show signs that bears are starting to creep into the cryptocurrency scene. He explains that Bitcoin is currently trading in a rising wedge pattern, which if not broken past, often acts as a catalyst for a bearish trend reversal.

What’s more, there have been bearish divergences between Bitcoin’s price, and the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). In other words, as BTC has moved higher over the past two weeks, these indicators have trended lower. This is important, as bullish divergences seemingly preceded a number of crypto market rallies throughout recent trading sessions.

Full Story Here.

Your thoughts guys?

I think it's time the whales want to exhaust all the coins they hold. because we will not be able to see a bull run like 2017 anymore and I have warned traders that this is a big trap of manipulating organizations.
The crypto market cannot recover so quickly, it is absurd. The IEO has really brought a lot of money to the market, but the BTC price suddenly increased from $ 5k5 to $ 9k in just 1 month is not normal.
I guess its price will continue down until the resistance of $ 7k.

[ginobitcoiner]

However the price of the market, an investor must always be aware of any market price movements. pumps or falls can happen anytime without any warning or preparation.

[timmydakolo2]

According to a recent Twitter post from Josh Olszewicz, an analyst at Brave New Coin, Bitcoin’s one-day chart is starting to show signs that bears are starting to creep into the cryptocurrency scene. He explains that Bitcoin is currently trading in a rising wedge pattern, which if not broken past, often acts as a catalyst for a bearish trend reversal.

What’s more, there have been bearish divergences between Bitcoin’s price, and the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). In other words, as BTC has moved higher over the past two weeks, these indicators have trended lower. This is important, as bullish divergences seemingly preceded a number of crypto market rallies throughout recent trading sessions.

Full Story Here.

Your thoughts guys?

I believe this is also a right time to bag some more coins out there because I believe that the bull is not over rather the market is making and adjustment for those who couldn't get in to be part of the trend. Not a financial adviser but do your own research regarding the market.

[agatha90]

Bitcoin will do halving in 2020. Bitcoin is very likely to be in a bullish position this month. Also, the fact that the market has just woken up from a long crypto winter will give more confidence to rising sentiment. And many of the opinions of experts on Bitcoin price predictions could rise to 84% by the end of this year.

[Gozie51]

Those indicators that op mentioned do not always give the real direction of the market and I don't think bitcoin follows it. Price might have slightly been dropping but I will hodl for a while. I believe price will go up more.

[exstasie]

It was bound to pullback sometime eventually. Look at the bull market of 2017 in the second half of the year. Bitcoin was on a crazy bull run but it had huge pullbacks along the way.

I remember when it touched $5000 for the first time and about a week later it hit $3000 and people assumed $5K was the top but it quickly reversed from $3K to break the ATH about 3 weeks later.

So I am assuming this will be similar, we might get a nasty pullback but within a month should break the $9100 area we made last week.

So you think we're entering another bubble already? Late 2017 was the culmination of 2-3 years of bull market. It was the blow-off top. I have a hard time believing we're in that stage of the market cycle yet where we could expect this sort of momentum to continue.

I could see this rally continuing to $10K or further. So I'm not sure it's done yet. But I believe the rally will eventually give way to a longer term ranging structure and 2019 will end a lot more boring than people expect.

[Pipdips]

That recent little pull back down to $7,423 was invigorating! Now it is going back up in a big way!

[kodtycoon]

it might be true because a big correction happened recently and indeed this increase can be said to be a rapid increase and a reversal to the bear market in the near future is possible, but if we see another bullish analysis that will happen next year, then at least this year the market will get a saturation that will make prices stagnate

[RealMalatesta]

According to a recent Twitter post from Josh Olszewicz, an analyst at Brave New Coin, Bitcoin’s one-day chart is starting to show signs that bears are starting to creep into the cryptocurrency scene. He explains that Bitcoin is currently trading in a rising wedge pattern, which if not broken past, often acts as a catalyst for a bearish trend reversal.

What’s more, there have been bearish divergences between Bitcoin’s price, and the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). In other words, as BTC has moved higher over the past two weeks, these indicators have trended lower. This is important, as bullish divergences seemingly preceded a number of crypto market rallies throughout recent trading sessions.

Full Story Here.

Your thoughts guys?

Josh is just another whale that missed out of the train and trying to create an FUD to cause dump so he can panic investor to buy at dipper price, but I think I like this, watch the price of BTC after this, you will see that BTC will react positively to it because I have notice that bitcoin react opposite FUD news, and I think he has lost already.

I called him whale for using the word bear because he should have known that correction always happen, and the fact they don’t get a strong bull signal for a while doesn’t mean there is none preparing for the push, everyone studies the market situation before investing, and right now, we are already in the uptrend and I don’t see anything pulling bitcoin back to the bear market other than the little correction.

[exstasie]

Josh is just another whale that missed out of the train and trying to create an FUD to cause dump so he can panic investor to buy at dipper price

No, not at all! Josh used to be a regular in the Tradingview chat a couple years ago. He's a good guy, always trying to help novice analysts, and is just employing classical TA. Very straight forward stuff. There's nothing FUD-like about his analysis. He's not a whale either, just a regular retail trader like us.

[tonyvo2017]

I also see the number of buyers falling and the traders are not encouraging at this time. because the BTC price has adjusted 2 times in a row and that has caused the whole market to go down psychologically.
The traders are now quite frightened at the moment and therefore the volume is getting less and less.
Upcoming whales will pump prices again and our market will continue bustling.

[Shenzou]

According to a recent Twitter post from Josh Olszewicz, an analyst at Brave New Coin, Bitcoin’s one-day chart is starting to show signs that bears are starting to creep into the cryptocurrency scene. He explains that Bitcoin is currently trading in a rising wedge pattern, which if not broken past, often acts as a catalyst for a bearish trend reversal.

What’s more, there have been bearish divergences between Bitcoin’s price, and the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). In other words, as BTC has moved higher over the past two weeks, these indicators have trended lower. This is important, as bullish divergences seemingly preceded a number of crypto market rallies throughout recent trading sessions.

Full Story Here.

Your thoughts guys?

All these are prediction and speculation and there is really nothing to worry about, all it is it just a push and pull from whales and bears as they realize that this is might be there last chance to get their hands on some btc at this low of a price as we slowly approach the point where starts buying before the halving in which the prices might reach very high levels, we went back and for between the 7k and 8k multiple times and it is obviously corrections and once it breaks past the 8.5k will be good to go.

[Mahanton]

According to a recent Twitter post from Josh Olszewicz, an analyst at Brave New Coin, Bitcoin’s one-day chart is starting to show signs that bears are starting to creep into the cryptocurrency scene. He explains that Bitcoin is currently trading in a rising wedge pattern, which if not broken past, often acts as a catalyst for a bearish trend reversal.

What’s more, there have been bearish divergences between Bitcoin’s price, and the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). In other words, as BTC has moved higher over the past two weeks, these indicators have trended lower. This is important, as bullish divergences seemingly preceded a number of crypto market rallies throughout recent trading sessions.

Full Story Here.

Your thoughts guys?

All these are prediction and speculation and there is really nothing to worry about, all it is it just a push and pull from whales and bears as they realize that this is might be there last chance to get their hands on some btc at this low of a price as we slowly approach the point where starts buying before the halving in which the prices might reach very high levels, we went back and for between the 7k and 8k multiple times and it is obviously corrections and once it breaks past the 8.5k will be good to go.

We are really having these kind of pull and push of prices on these levels and this do like just happen on 6-7k price in the past
where we can presume that we are currently seeing the same situation.I don't see for people do see that exhaustion thing yet only big players on
this market can sees through it.

[ololajulo]

I believe bitcoin has the ability to pump itself without whales influence and had showed with the recent institution in flow of fund. The manipulation in the market is just to control the rate of growth and it has not been cheap. We will see such trend ti; December before we see a different movement next year. The correction will come often and we need to get used to it

[bitgolden]

I also see the number of buyers falling and the traders are not encouraging at this time. because the BTC price has adjusted 2 times in a row and that has caused the whole market to go down psychologically.
The traders are now quite frightened at the moment and therefore the volume is getting less and less.
Upcoming whales will pump prices again and our market will continue bustling.

Smart buyers and traders do not stay away from the market or afraid, any smart trader who has studied the market should be fully conversant with corrections, and rather that getting scarred and shying away, they see it as an obligation, or would I say opportunity to add more of the coins to the wallet, in order to take more profit.

So traders should even be the one that this type of fluctuation will favor more, because they always get the opportunity to buy low, and then wait for the price to surge again to sell high which is how majority of people like me has been making our money on special occasions like this.

[D3m1r4wanti]

Bitcoin will do halving in 2020. Bitcoin is very likely to be in a bullish position this month. Also, the fact that the market has just woken up from a long crypto winter will give more confidence to rising sentiment. And many of the opinions of experts on Bitcoin price predictions could rise to 84% by the end of this year.

some people continue to talk about halving and its effect on the increase in the price of bitcoin, but I don't see it happening now. right now I see a very significant change in Litecoin that is increasing very well, and some people associate it with halving