What the Effing Hell is Going On!?!?!

[exstasie]

I'm waiting for this $10,400-$10,800 range to break to determine short term direction.

Upward range expansion would give us $11,400s as the target. That's based on Fibonacci retracement and extensions, horizontal S/R on the daily and 4-hour charts, and Tim West's TAM method. If it breaks down, a return to the $9,700-$10K area would make sense. Here's the chart:

[STT]

then we should be aiming at $140k or above.

I just cant believe that, not without a world entirely different from now.   Sorry I'm a cynic and I'd never tell someone they are absolutely wrong in such an estimate but I dont see it that easily.

exstasie I concur, its trying to break out right now.    Very hard to decide but I opt short with with stop loss not far above from here.   Of course the market wants to hunt these stop losses and it just burst upwards and then quickly came right back



Close on the 4hr bar below $10,400

[figmentofmyass]

then we should be aiming at $140k or above.

I just cant believe that, not without a world entirely different from now.   Sorry I'm a cynic and I'd never tell someone they are absolutely wrong in such an estimate but I dont see it that easily.

fair enough, everyone's got an opinion. but with that attitude, i assume you couldn't believe $20k was coming in 2017, or $1200 in 2013. i believe bitcoin will continue to amaze us.

Very hard to decide but I opt short with with stop loss not far above from here.   Of course the market wants to hunt these stop losses and it just burst upwards and then quickly came right back

looks like we're headed down for a test of $10k. but i wonder if we get a troll spike straight back upwards like yesterday. that move yesterday felt pretty decisive. i'm hesitant to short right now.

[Wilhelm]

then we should be aiming at $140k or above.

I just cant believe that, not without a world entirely different from now.   Sorry I'm a cynic and I'd never tell someone they are absolutely wrong in such an estimate but I dont see it that easily.

fair enough, everyone's got an opinion. but with that attitude, i assume you couldn't believe $20k was coming in 2017, or $1200 in 2013. i believe bitcoin will continue to amaze us.

Very hard to decide but I opt short with with stop loss not far above from here.   Of course the market wants to hunt these stop losses and it just burst upwards and then quickly came right back

looks like we're headed down for a test of $10k. but i wonder if we get a troll spike straight back upwards like yesterday. that move yesterday felt pretty decisive. i'm hesitant to short right now.

Yeah go short it's always been the best move since 2013  

[YOSHIE]

Like a fool I bought some at $13,600. Regrets?

Many people experience as you experience, don't panic if the price of Bitcoin falls still a long time for the price of bitcoin to skyrocket.
In trading up and down prices are normal, wait for the price of $ 20,000 then sell. Like in 2017. What is important is that you believe that one day the price of Bitcoin will rise.
don't forget to continue to keep up with the development of bitcoin prices every day.

[exstasie]

I'm waiting for this $10,400-$10,800 range to break to determine short term direction.

Upward range expansion would give us $11,400s as the target. That's based on Fibonacci retracement and extensions, horizontal S/R on the daily and 4-hour charts, and Tim West's TAM method. If it breaks down, a return to the $9,700-$10K area would make sense. Here's the chart:

The range broke down, however selling momentum is extremely weak. It looks like two failed fishing expeditions. Bears can't even seem to break below the broken downtrend line to reach $10K.

There's still a few hours left for this downtrend to run out of time, but it looks like it won't get far. I think this will turn back upward and push towards the $11,400s after all.

[figmentofmyass]

Yeah go short it's always been the best move since 2013  

shorting the bounces down from the $13000s worked out damn well for anyone who had the balls. once i see another decisive lower high like $13.2k and start seeing weak slow bleeding behavior again, i'll jump back into the fray. for now i'm thinking this can still push higher. holding spot coins and waiting.

[Pipdips]

It is at $9,959 right now. Pretty soon people will stop fighting the fact that Bitcoin price is going down after the parabolic pattern. We are consistently seeing lower-highs and and lower-lows across the charts. I want to starting buying again when it is in the $7,000-$6,000 range.

[Wilhelm]

Yeah go short it's always been the best move since 2013  

shorting the bounces down from the $13000s worked out damn well for anyone who had the balls. once i see another decisive lower high like $13.2k and start seeing weak slow bleeding behavior again, i'll jump back into the fray. for now i'm thinking this can still push higher. holding spot coins and waiting.

Buying in 2013 would have worked too for anyone who had the balls.
Hindsight is 20/20.

I keep my stash cold 😎

[Pipdips]

Buying in 2013 would have worked too for anyone who had the balls.
Hindsight is 20/20.

I keep my stash cold 😎

Next stop?  The $8,000 area. Don't listen to the news, just watch the charts, wait and see. Having balls and having brains are two separate things. You can stare at the charts all day long praying for the price to go up but markets simply do not work that way.

The ones who bought in 2013 should have taken them out of cold storage, cashed out at the top of the parabolics, and waited for new lows to buy again on the way up.

It looks like $6,000-$7,000 is where it will wind up.  Maybe it will go lower and into the $5,000 range.

[exstasie]

Next stop?  The $8,000 area. Don't listen to the news, just watch the charts, wait and see. Having balls and having brains are two separate things. You can stare at the charts all day long praying for the price to go up but markets simply do not work that way.

Sounds like that fleecing you took on your longs is still weighing on you. We are still in a downtrend and $8K is possible, but if bear momentum weakens and we don't get there, hopefully you'll be able to recognize it. Bias is a dangerous thing indeed!

The ones who bought in 2013 should have taken them out of cold storage, cashed out at the top of the parabolics, and waited for new lows to buy again on the way up.

It all depends on what time frame they are investing on. If you held through the whole 2018 bear market, this little 35% correction is nothing. There's no reason to sell yet on the monthly chart.

It's also pretty hard to "cash out at the top." Due to market psychology, most people are more likely to buy the top.

[LeGaulois]

Next stop?  The $8,000 area. Don't listen to the news, just watch the charts, wait and see. Having balls and having brains are two separate things. You can stare at the charts all day long praying for the price to go up but markets simply do not work that way.

Sounds like that fleecing you took on your longs is still weighing on you. We are still in a downtrend and $8K is possible, but if bear momentum weakens and we don't get there, hopefully you'll be able to recognize it. Bias is a dangerous thing indeed!

The ones who bought in 2013 should have taken them out of cold storage, cashed out at the top of the parabolics, and waited for new lows to buy again on the way up.

It all depends on what time frame they are investing on. If you held through the whole 2018 bear market, this little 35% correction is nothing. There's no reason to sell yet on the monthly chart.

It's also pretty hard to "cash out at the top." Due to market psychology, most people are more likely to buy the top.

Or wait with the hope it climbs higher... It remembers me back in Dec 2017, a friend who doesn't know any shit about BTC told me "bro, you should sell now, you're crazy" I told him I'm waiting some days or weeks more because the price will be higher. At this time I was truly believing the price could hit ~$22,000 and I had an initial plan to invest in something else.

When the price started to crash a few days later, I was still watching the market. It was too late to cash out some bitcoins, and the plan I had wasn't anymore possible due to this.

I've a plan where I would like to switch from cryptos to real estate. Nothing big, I would like to start buying a small apartment and rent it to someone. After 10-12 years I will hit 100% ROI, It could finance a second apartment. After 20-25 years, I'll be fine with 2 apartments for rent, I will probably be retired too. Not rich for sure, but not poor


As for someone mentioning $8,000 I would say more the days pass less the chance to see it is possible

[btc_angela]

It is at $9,959 right now. Pretty soon people will stop fighting the fact that Bitcoin price is going down after the parabolic pattern. We are consistently seeing lower-highs and and lower-lows across the charts. I want to starting buying again when it is in the $7,000-$6,000 range.

Yeah, that would be the perfect opportunity to buy at the price, the support at $10k is not that good, so it's possible that the price could go on that direction. Either way, nothing has changed for those who are in the game for so long. Buy in dips, and then just hold, simply as that.

[STT]

The property idea is a job also as being a landlord can be alot of hassle and various repairs required.   You are also a speculator on demand in that area, university accomodation has been a popular market in recent decades.  Thats a market subsided by government, in future you'd have to guess as well also.    Definite risk in that investment


I think its reasonable to think BTC will keep drifting down till it hits bedrock of some kind.   Call it gravity or something, but theres not a proper trend to appreciation at the moment which means you have at the least a slow leak of sellers.



Right this moment I think it has these two prices as boundary 9612 9830 which is just fib levels off its previous recovery

[Siren]

It's down to $10,900.  It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

If you are not ready to take the long way better stop expecting to gain from cryptocurrency trading.this market is very volatile that no one can skip from wing victim of dumping
In this place we need to be ready in the consequences what is important is our capacity to wait and hold

There are lots of investors that is not ready like you and all they got is losses because they are panicking everytime the market goes this way,keep yourself ready and never ask for faster profit

[exstasie]

Someone tried pretty hard to paint a double bottom off the $9,100 level. I'm not convinced yet.

On Bitstamp's daily bar chart, the dump off $10,235 a couple days ago signaled a bearish range expansion. If the market can clear that $10,235 level, it'll signal a clear reversal. That will also line up with the 20-day MA in the next day or two:



Until we clear those resistances, there's no reason to get bullish yet. It's just a double bottom attempt until proven otherwise.

[STT]

Yeah go short it's always been the best move since 2013  

'right now' ≠  sell and go away forever.   6 years is not my time frame, I basically looking whats on the menu for the next week.   Its gruel soup for the longs sorry but I hope you get bread.

always the people love the absolutes but thats not trading is it now.   I still think negative but Im happy if market wants to prove me wrong, so far it is not doing so.  Its slipping into the ocean bit by bit and I dont advise standing underneath that clifftop with an umbrella.


The weekend was a stop hunt, weekends I avoid but main week we have to see if it can continue down from fridays close up.    Its no where near 8 day and its failing to pass the 2 day average, I'll watch this area carefully with a tight stop I think is fair as its already attempted up a few times.

The bullish bet going on the double bottom idea would be to rest on it not making a lower low, so the stop loss would be 9100 or a bit lower.    Could be the more sensible bet if the framework werent already negative.

[exstasie]

Someone is trying very hard to prop this level up. If you've been watching the 1-min chart, you can see anytime someone dumps, they immediately follow up with market buys to prevent people from selling:



This has been going on for days. I wouldn't necessarily take it as a bullish sign. This accumulator very well may just be delaying the inevitable and setting the market up for an even more brutal waterfall. People who prop markets usually get punished.

[Pipdips]

More lows today.  It is now at $9,462 but the other day she went down to $9,127.  Have fun holding on for dear life with your crusty old bags.  Everybody else is going to be buying on the cheap!

[STT]

Well it failed to pass 9000 in any good attempt, its risen from that lack of challenge to the lows.   Now I have to at least consider the oppisite that Bitcoin can then retest the highs.   I dont personally favour this, I think this is a weak rally but on a daily chart it may have beaten a negative trend speculating since the 13k high.

The low I posted above was not revisited in any way since, so I was wrong to be so bearish.  I think volume is weak, this does not match a breakout scenario.   OBV shown at the bottom shows nothing exceptionally bullish