Why Bitcoin is Declining? And What’s Next?

[Monfex]

For me this declination of bitcoin price now was still part of the tough corrections that needed in order for another price recovery. That's my perception and I don't contradict to other's idea, because we're independent with our outlook with bitcoin. We can say any definite observations based on how we feel and observe.

There will definitely always be corrections, but now it looks like we have a downward trend forming.

Yes that is right.
It looks like you are getting some good predictions here and you almost hit the right numbers.

But for me, it looks like another normal fluctuation that will happen again for a month or maybe a couple. Just like it did the last time. Something like a rest point then back to another bull run being joined by another correction afterwards. Correction or we could say, taking profits. 

Well, this time I really see the trend to go back down since July 28, the picture of bitcoin chart on the RSI and STO indicators is overbought which means that this can be a continuation trend to go down. This time I am still monitoring and not buying bitcoin, I waited until the support area of $9200 to buy in stages.

Good catch. I can see it going down to that level, but right now it has some momentum. Lets see if it can break above the 10k mark. That would be a great indication of good things to come.

[Monfex]

Damn,
It's not the right thing what did you mention here. Bitcoin is not decreasing I think this is the real scenario of this track, Ups and downs are the main trendy of this one. Well, now the price is falling down so you see this scene is the last stage of this one but when the price goes up then what do you say about this situation.
I do believe that Bitcoin is the largest platform in the crypto world so it might go so long. Otherwise, the Crypto world will face a huge lack of trust. that's why Bitcoin will alive for a long time.

 I agree that Bitcoin will be around for a long time. It's the currency made by the people, for the people. This may be a small hiccup in the bigger picture.

[Monfex]

For me this declination of bitcoin price now was still part of the tough corrections that needed in order for another price recovery. That's my perception and I don't contradict to other's idea, because we're independent with our outlook with bitcoin. We can say any definite observations based on how we feel and observe.

There will definitely always be corrections, but now it looks like we have a downward trend forming.

Yes that is right.
It looks like you are getting some good predictions here and you almost hit the right numbers.

But for me, it looks like another normal fluctuation that will happen again for a month or maybe a couple. Just like it did the last time. Something like a rest point then back to another bull run being joined by another correction afterwards. Correction or we could say, taking profits. 

 I like the optimism, because I'm patiently waiting for another bull run. It is way more fun to analyze trends going up!

[btc_angela]

Question though, why do we need to buy at $10k? When we can buy at the current price of $9500-$9600 and then take profit at $10k++? I'm seeing a bullish sentiments, as we have hit a "golden-cross" again, just saying.

Because the chart and trade are actually from ~ July 19th. The OP is just re-posting the trade, which according to the parameters is still active......and in the red.

If we break above the last daily high ~ $10,250 then I'm ready to turn mid term bullish again. That would constitute a strong rejection of further downside. Until then, I'm still waiting this out and not going long. We haven't shown reversal signs on any time frames higher than the hourly.

Funny thing is, we haven't break the $10k price barrier for what? a week already. I thought that the golden cross is good thing. Anyways, this is TA and it's not a guarantee, so let's see how it goes. I'll just continue to hold then, not going to take short profit this time.

[akram143]

But the improvement is easily visible for everyone when we think that Bitcoin value is not going well it suddenly rise up and impress our investment so that we do not say Bitcoin is always going down only it sometimes it is getting better for the traders to get better profits for their certain investment and I think the future will made the development to be increased.

[Hypnosis00]

It looks like Bitcoin is turning its head to bounce back and rise again. We are started to move high since yesterday...its have to look in a zigzag line and it tried to gain some more resistance before then. Have this trend will continue for the next couple of months and to finally see the bull run this year.

[Oilacris]

Question though, why do we need to buy at $10k? When we can buy at the current price of $9500-$9600 and then take profit at $10k++? I'm seeing a bullish sentiments, as we have hit a "golden-cross" again, just saying.

Because the chart and trade are actually from ~ July 19th. The OP is just re-posting the trade, which according to the parameters is still active......and in the red.

If we break above the last daily high ~ $10,250 then I'm ready to turn mid term bullish again. That would constitute a strong rejection of further downside. Until then, I'm still waiting this out and not going long. We haven't shown reversal signs on any time frames higher than the hourly.

Funny thing is, we haven't break the $10k price barrier for what? a week already. I thought that the golden cross is good thing. Anyways, this is TA and it's not a guarantee, so let's see how it goes. I'll just continue to hold then, not going to take short profit this time.

We did actually able to hit up 10k mark atm but it didn't wen through a few hundreds more but stabilize its price into that range playing with sub 10k price.
About that golden cross it didn't make any hype to try to drive the price up but lets see on what would happen on next weeks to come in crypto market.

[Monfex]

Question though, why do we need to buy at $10k? When we can buy at the current price of $9500-$9600 and then take profit at $10k++? I'm seeing a bullish sentiments, as we have hit a "golden-cross" again, just saying.

Because the chart and trade are actually from ~ July 19th. The OP is just re-posting the trade, which according to the parameters is still active......and in the red.

If we break above the last daily high ~ $10,250 then I'm ready to turn mid term bullish again. That would constitute a strong rejection of further downside. Until then, I'm still waiting this out and not going long. We haven't shown reversal signs on any time frames higher than the hourly.

Funny thing is, we haven't break the $10k price barrier for what? a week already. I thought that the golden cross is good thing. Anyways, this is TA and it's not a guarantee, so let's see how it goes. I'll just continue to hold then, not going to take short profit this time.

We finally crossed the $10,000 price point yesterday, and there is a short term trend forming up. The RSI is recording higher lows, but at the moment it is still in the oversold range. This could either be a normal fluctuation, or signs of good things to come. If the volume increases and we hit the 12k mark, we may be in for a nice bullrun.

[Monfex]

Next? Bitcoin is about to reach $10000 again which means the prices starts to recover so phase for the investors to make most out of it or we will not be able to see this prices anymore.

It is starting to consolidate at 10k and the RSI is recording higher lows, so this may be the momentum we need to push past 10k to 12k. But the volume needs to increase in order for this to happen.

[Monfex]

But the improvement is easily visible for everyone when we think that Bitcoin value is not going well it suddenly rise up and impress our investment so that we do not say Bitcoin is always going down only it sometimes it is getting better for the traders to get better profits for their certain investment and I think the future will made the development to be increased.

The future definitely looks bright with Bitcoin, and I can see it hitting 12k in the nearest future, but there a couple resistance layers we have to break through first.

[Monfex]

It looks like Bitcoin is turning its head to bounce back and rise again. We are started to move high since yesterday...its have to look in a zigzag line and it tried to gain some more resistance before then. Have this trend will continue for the next couple of months and to finally see the bull run this year.

 We are definitely seeing some resistance at 10k. It seems to be a nice round number for shorts. Once we break that, next is 11k. But the momentum is building up and we may see a rise soon.

[Monfex]

Question though, why do we need to buy at $10k? When we can buy at the current price of $9500-$9600 and then take profit at $10k++? I'm seeing a bullish sentiments, as we have hit a "golden-cross" again, just saying.

Because the chart and trade are actually from ~ July 19th. The OP is just re-posting the trade, which according to the parameters is still active......and in the red.

If we break above the last daily high ~ $10,250 then I'm ready to turn mid term bullish again. That would constitute a strong rejection of further downside. Until then, I'm still waiting this out and not going long. We haven't shown reversal signs on any time frames higher than the hourly.

Funny thing is, we haven't break the $10k price barrier for what? a week already. I thought that the golden cross is good thing. Anyways, this is TA and it's not a guarantee, so let's see how it goes. I'll just continue to hold then, not going to take short profit this time.

We did actually able to hit up 10k mark atm but it didn't wen through a few hundreds more but stabilize its price into that range playing with sub 10k price.
About that golden cross it didn't make any hype to try to drive the price up but lets see on what would happen on next weeks to come in crypto market.

 It seems like the price is starting to consolidate at 10k, and if we could get more volume we could definitely be off to the next resistance at 11k.

[Monfex]

Hopefully the price will be bounce back soon, I know the decline price is a signal of healthy correction, but if the price stay decline for a long time it could shaken the investor trust, but in this few days the signal has been show a positive signal, seems like the price want to go up again

There is strong resistance at 10k. It seems like a nice round number to short. If we can't break through this 10k barrier, then I can see the price going down to the mid 8 thousands.

[Monfex]

Many people already have a Take profit target at 15k.
This is the reason why Bitcoin will struggle for much time to overtake this level and reach a new all time high. We noticed that before and we are going to notice the same movement many times in the future.

We recently had a price increase last month and if the law of demand and supply are aplied into this, the reason would be true. This small pumps are what traders waiting for so they probably sell it on that peak. Expect that the price will increase again right after it reaches the bottom. Im sure a lot of us buys on that dip.

There is a lot of resistance at 10k and a lot of sell offs at that price point are occurring.  If we could pass that resistance point, we will be in good shape towards 12k.

[omonuyak]

Many people already have a Take profit target at 15k.
This is the reason why Bitcoin will struggle for much time to overtake this level and reach a new all time high. We noticed that before and we are going to notice the same movement many times in the future.

We recently had a price increase last month and if the law of demand and supply are aplied into this, the reason would be true. This small pumps are what traders waiting for so they probably sell it on that peak. Expect that the price will increase again right after it reaches the bottom. Im sure a lot of us buys on that dip.

price increase is always expected from time to time and as such we should expect also a retracement from time to time. The currently happening of uncertainty in the market is what I tag as corrections and we have to see this as the temporary bearish trend that is going to reverse very soon.

[Monfex]

Dear trader!

Here is the quick Monfex market analysis update.

Trend analysis
Bitcoin recorded a new low with a HAMMERcandlestick . This could mean it is ready for a reversal. Since the HAMMER , there has been a steady increase in the Bitcoin price. While the fast EMA (200) is still above the price we may be getting ready to see a bullish price crossover.

The RSI is headed towards the oversold territory. The price of BTC has recorded a lower low while the RSI is recording higher lows. This means Bitcoin is gaining momentum and if the volume increases, we may be headed towards a strong upward trend.

What To Consider
With several bullish signals forming, it looks like now may be a good time to close short positions and consider a long term buy. If the price reaches past $10,200 (short term resistance) we may be in for another bull run. BUY at $9,800 price and SELL at $10,200

Active Trade Signal:
- Buy at $9,850
- Stop-loss at $9,250
- Take-profit at $10,200

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[Monfex]

Many people already have a Take profit target at 15k.
This is the reason why Bitcoin will struggle for much time to overtake this level and reach a new all time high. We noticed that before and we are going to notice the same movement many times in the future.

We recently had a price increase last month and if the law of demand and supply are aplied into this, the reason would be true. This small pumps are what traders waiting for so they probably sell it on that peak. Expect that the price will increase again right after it reaches the bottom. Im sure a lot of us buys on that dip.

price increase is always expected from time to time and as such we should expect also a retracement from time to time. The currently happening of uncertainty in the market is what I tag as corrections and we have to see this as the temporary bearish trend that is going to reverse very soon.

The overall recent trend looks bearish, but as you can probably see, the price is starting to consolidate around the 10k area. With the low volatility, we can't expect much of a dramatic jump in either direction now. Let's see if it breaks the 10k resistance that it has been testing the last week. If it gets up to $10,200, we can expect the volatility to increase and maybe a jump to the next resistance level of ~$10,600.

[guoyu78]

bitcoin had fallen to 3200 this winter and now we are at around 9500 after it has gone from around 13500 I would say that it now consolidates on the 10,000 or drops to 7000 and will remain there for a few months, this is just my opinion clearly

It looks to be consolidating around the 10k range. If it drops below the $9,200 resistance range, I can see it going towards 7k definitely.

It has hovered around that price for too long and I think this would be the last time it will make correction around that, I would not want to call it consolidation etc, because if it was consolidation, most altcoins ought to have started increasing by now, so I am still sure that it is still In its corrective state, once the correction is over now, I believe that we will be heading for more surge in price, probably it will further break more barriers as against the 7k you see it heading to.

I quite doubt if we will see that 7k for now till when the market has fully reached another new ATH, maybe when people start to sell off their investment, then it will be possible for us to see that 7k value again, but right now, I just want to be optimistic that we are heading for another great value.

[el kaka22]

In my view, bitcoin is not declining but gaining more power to break the resistances around $13,800 levels. We cannot expect any market to keep on rising up or falling down and this is what exactly happening since the bulls were back into the business. Already investors got back their faith on bitcoins investments hence we may expect another rally of bulls which may last up to $17,900 levels in this August.

Some governments are on verge of regulating cryptos and when that would be just a regulation rather than banning, I guess we may witness another big leap in crypto markets which might be led by bitcoin prices.

[rodel caling]

Bitcoin is sure to grow in price, do not worry about it. Price reduction is a natural phenomenon. Each crypto has certain periods of growth and fall. When the correction is over we will see growth again.

Don't worry after weeks of declining bitcoin price falling into 9k$ now bitcoin moving again their price value at 10k$ while I am typing this comment. So meaning bitcoin is very high volatile difficult to predict when the proce goes down and up so eventually we need to monitor well the moving of bitcoin to avoid nervous amd always be calm emotions to avoid panic.

Bitcoin is sure to grow in price, do not worry about it. Price reduction is a natural phenomenon. Each crypto has certain periods of growth and fall. When the correction is over we will see growth again.

Great explanation and you an positive thinking and strong believer about bitcoin and your are correct that have an period of grow and falll so patience patience the bullrun is coming soon.