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cheezcarls (OP)
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June 04, 2019, 07:24:47 AM |
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Hey guys! I know that we are hoping for a rally, but it goes south instead. From hovering around $8,400-$8,500, it's now dropping to below $8,000 for the first time in a long while. Check out the article here: https://bitcoinist.com/bitcoin-price-analysis-doji-death-candle/But I just wanna ask you guys about the Doji "Death Candle" formed hours ago. Is it going to end the rally and continue to move downward? Or just short-term only? I keep holding Bitcoin, Ethereum, Ripple and other digital assets I have because I still believe it will rebound later on. What are your thoughts about this one guys? I would love to hear from you all, no matter if it's positive or negative. Cheers and Happy Tuesday to all! |
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nur rochid
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June 04, 2019, 08:52:58 AM |
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doji has an indication of reversal, but it is seen from technical analysis. and I guess not only doji candles are an indication. but we must take into account other techniques, such as candle side ways
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eagle10
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June 04, 2019, 01:01:19 PM |
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When it comes to technical analysis, stocks and money market traders are experts on this chart analysis. I don't really believe all the predictions and chart or technical analysis of many so-called trading experts. I have been in bitcoin many years already and all I can say is that bitcoin has its own movement and most of the time experts opinion and technical analysis does not happen.
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Genemind
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June 04, 2019, 02:25:47 PM |
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As for me, doji has nothing to do with the changes in the price of Bitcoin. Since Bitcoin or any altcoin is volatile, we must expect any drop down of prices anytime. We can't only predict that the prices could strike high but we should also expect that prices could drop down.
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exstasie
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June 04, 2019, 06:29:54 PM |
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I'd say we should expect a short/mid-term correction (weeks to a couple months), not a long term bear market like 2018. Normally, a doji like this indicates indecision. Taken alone, a doji candle can go either way. It doesn't become a "death candle" until a bearish engulfing unfolds on the next candle. We still have 5 days to wait and see how this week's candle closes. If it closes like this, I would expect more downside. $5,000s or $6,000s is possible. |
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xvids
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June 04, 2019, 07:26:39 PM |
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I'd say we should expect a short/mid-term correction (weeks to a couple months), not a long term bear market like 2018. Normally, a doji like this indicates indecision. Taken alone, a doji candle can go either way. It doesn't become a "death candle" until a bearish engulfing unfolds on the next candle. We still have 5 days to wait and see how this week's candle closes. If it closes like this, I would expect more downside. $5,000s or $6,000s is possible. Yeah it is slipping down so much it is already at $7,600 . So if this continue we could really see it around $5-6,000 this isn't what we are expecting . And this is one of the proof that we couldn't expect anything in crypto because it could fuck us up. |
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MakeMoneyBtc
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June 04, 2019, 09:31:17 PM |
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I was expecting this move and I've even seen some topics opened in the recent days asking if bitcoin is going to continue going up or we'll see a correction soon. It looks like the second option is correct in our case since the price has already went down more than $1000 in less than 48 hours. If it goes down under $7k it will most likely continue this way and go somewhere around $6000 then stay there for a while until it's going to start either moving up again or go down even lower.
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Ailmand
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June 04, 2019, 11:05:15 PM |
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The worst thing is people have expected so much which has made them disappointed at this point. Bitcoin couldn't soar high continuously. There will always be a correction period for it. If we expect a price hike we must also expect a drop down anytime.
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jhongzjhong
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June 04, 2019, 11:26:54 PM |
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This is what I have thought, instead of crying that bitcoin drop too much you can grab this opportunity to buy more bitcoin while in the dip and cheap price. I have heard that whales transferred millions of dollars in bitcoin from another wallet and probably they were controling now the market and cause of a huge dumped price. However, only weak people will easily fool at this situation, once you've sell your bitcoin, whales may laugh at you.
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rodel caling
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June 04, 2019, 11:30:57 PM |
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Yeah while I writing this the price of bitcoin is 7668.48 USD (-9.23%) coin market cap value, but I still believe and hoping this only for short time drop all are goes into last price value, so let's be patience and wait for price rebounds, we all now hold breath haha enjoy ourselves to less stress this recent price of bitcoin.
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harizen
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June 04, 2019, 11:41:33 PM |
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What are your thoughts about this one guys? I would love to hear from you all, no matter if it's positive or negative.
Good thing it happened. We don't want a price increase without strong support. Way better than going through above easily with only hype as a foundation. I say this before, even during a strong pump, people should never take away the chances that a certain "thing" might spoil the momentum. This price decrease somehow saves people from FOMO. We need a strong foundation going to another price level so just let those dips come in. Hope others will take advantage of this as we can speculate what will probably happen next once this dip established the price bottom. Good luck everyone. |
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pixie85
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June 05, 2019, 12:08:57 AM |
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Hey guys!
I know that we are hoping for a rally, but it goes south instead.
We had a big rally. You were hoping for another one after we went from 4000 to almost 9000 dollars? I was expecting a selloff since 6000. Every big rally needs corrections to establish strong supports for the next ups that follow. From hovering around $8,400-$8,500, it's now dropping to below $8,000 for the first time in a long while. Long while? It's only weeks. Bitcoin moves happen in months. A month ago we were lower! |
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leowonderful
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Bitcoin FTW!
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June 05, 2019, 02:48:27 AM |
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I personally expect a bit of a recovery from here and then a gradual rise back up to $9000 in the coming weeks. We had a pretty satisfactory bounce up from $7400 earlier today, and it seems selling pressure has waned for now while the price of BTC has started rising from the ashes again. Might just be some more chop in the next few days as well, but I do not think this rally is over just yet. Would stay away from highly leveraged trades at the moment at the least.
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exstasie
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June 05, 2019, 05:15:59 AM |
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I personally expect a bit of a recovery from here and then a gradual rise back up to $9000 in the coming weeks. We had a pretty satisfactory bounce up from $7400 earlier today, and it seems selling pressure has waned for now while the price of BTC has started rising from the ashes again. Might just be some more chop in the next few days as well, but I do not think this rally is over just yet. Would stay away from highly leveraged trades at the moment at the least.
Yeah I'm not touching leverage at all right now. I got shaken out of my longs on the May 30th dump and I'm waiting on the sidelines. Strong reaction off the $7,400s indeed but it could easily just be a bounce before more blood. I need to wait and see what happens going into the weekly close. If we can range for a few days then break up from that range, I might start buying dips and rebuilding a long. |
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ichai
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Worlds Simplest Cryptocurrency Wallet
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June 05, 2019, 08:17:13 AM |
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Hey guys! I know that we are hoping for a rally, but it goes south instead. From hovering around $8,400-$8,500, it's now dropping to below $8,000 for the first time in a long while. Check out the article here: https://bitcoinist.com/bitcoin-price-analysis-doji-death-candle/But I just wanna ask you guys about the Doji "Death Candle" formed hours ago. Is it going to end the rally and continue to move downward? Or just short-term only? I keep holding Bitcoin, Ethereum, Ripple and other digital assets I have because I still believe it will rebound later on. What are your thoughts about this one guys? I would love to hear from you all, no matter if it's positive or negative. Cheers and Happy Tuesday to all! I have some comments about the short-term future of the crypto market. I think the crypto market is coming to a price adjustment phase and things are going down. I guess the BTC price will soon return to $ 6k8 or even $ 6k5. But this will happen at a time interval of 1-2 months. Q3 may be a bloody sky and I think you should not hold those coins anymore. sell them early and buy them at a lower price. |
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Indrawan77
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June 05, 2019, 03:08:02 PM |
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When it comes to technical analysis, stocks and money market traders are experts on this chart analysis. I don't really believe all the predictions and chart or technical analysis of many so-called trading experts. I have been in bitcoin many years already and all I can say is that bitcoin has its own movement and most of the time experts opinion and technical analysis does not happen.
Technical analysis does work, indicator and chart could be the tools to do analysis however chart and indicators are not the only things to determine the price, for stock the price does put a heavy focus on the technical analysis, but for crypto indicators is not that affecting, the one that affected the price is the supply and demand, so even if the indicator show downtrend but the investors want the other way, the price will still go up |
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elewton
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June 06, 2019, 12:57:34 AM |
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This is what I have thought, instead of crying that bitcoin drop too much you can grab this opportunity to buy more bitcoin while in the dip and cheap price. I have heard that whales transferred millions of dollars in bitcoin from another wallet and probably they were controling now the market and cause of a huge dumped price. However, only weak people will easily fool at this situation, once you've sell your bitcoin, whales may laugh at you.
I agree with you because whales really won't sell panic when the market is still showing signs of recovery and whales will try to make you sell Bitcoin at the cheapest price so they can buy more. I think this is the smartest and most effective strategy in this market because whales are the ones who can control this market and only those who are brave enough to trust Bitcoin again. I will personally keep and wait until Bitcoin reaches $12,000 later this year |
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vit05
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June 06, 2019, 03:05:18 AM |
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1 year ago we had a great fall. Many did not believe it was possible to get that fund. But the price fell, stabilized and fell more. I remember I made a short and then I reversed for a long and almost I was liquidated. But today I find it improbable to drop more than 7400.
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avikz
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June 06, 2019, 03:46:43 AM |
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Hey guys! I know that we are hoping for a rally, but it goes south instead. From hovering around $8,400-$8,500, it's now dropping to below $8,000 for the first time in a long while. Check out the article here: https://bitcoinist.com/bitcoin-price-analysis-doji-death-candle/But I just wanna ask you guys about the Doji "Death Candle" formed hours ago. Is it going to end the rally and continue to move downward? Or just short-term only? I keep holding Bitcoin, Ethereum, Ripple and other digital assets I have because I still believe it will rebound later on. What are your thoughts about this one guys? I would love to hear from you all, no matter if it's positive or negative. Cheers and Happy Tuesday to all! Mate, technical analysis is mainly a visual representation of consumer emotion and a predictor of the future events based on consumer emotion. In a strictly regulated stock market, it is easier to predict such things. But in a highly manipulated environment, it's not very easy to predict the future! So just chill and don't overburden yourself with such big terminologies! |
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Kemarit
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June 06, 2019, 06:35:18 AM |
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Those Doji's are indicative of a indecision, meaning both bulls and bears are still fighting it out as to who will going to control the market. Bulls has been taking over the market since February so there could be sign of exhaustion and this is why the Doji's pattern pop up. So there could be possible reversals here, but I don't think that it will fall to a new lower's low, we will have a slide perhaps in lows $7000 before finally managing to have a new break-out run.
So we really have to look and see what's going to be the pattern in the next coming days, maybe there could be blood in the market, so let's see how the weak hands will react on this one.
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