Huge drop happening within 48 hours! (Update: BTC Price on Sept 5th)

[Hamphser]

Time for a new 48hr prediction thread 

Yeah, and it looks like more prediction like this will begin to appear claiming that there are right. The drop is obvious because of the market situation. If we go lower than $9k again then it wil continue for a short period of time.

If someone had to claim they did predicted it then they have to explain how and why it did occur just like how OP explain it. It seems that OP was just right this time then i guess it's time for another 48hours prediction if everything would follow as predicted.

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In 48 hours...Bitcoin will be somewhere between 8000 and 11000.
I’m on a role...I want to keep my next prediction conservative.

will it drop further below $8000? what's your advise on this... buy now or wait then?
your prediction can't be more conservative than that basic TA
either it bounces back and testing the last resistance ~$10.5k-$11k
or it drops a bit more and testing the next support line

Besides...50% of the time my predictions are right every time!

lol    of course it's always 50%, either you're right or wrong

[DrBitcoin]

How about the next 48hrs, do we feel that it will dump again? We can't still predict exactly what will happen and I could say that predicted it right today but I don't feel that you can make it in the next 48hrs.

With all this market flows, it sounds like that bullish seems to be impossible to show up, not in the bearish season also. If the market will still be like this until the year-end, it'll be fined for me.

I think we have reached the bottom for now. 4-5 days of sideways action. Maybe recovers a few hundred but stays under 10K

NEXT PREDICTION: By September 5th...bitcoin will be between 8200-8600 range. I know it’s a big range. But that’s still a huge drop from here.

My feeling is that euphoria is over for now.  We will see 8k, 7k, 6, maybe 5k.  On our eventual way up to 60k

Again, I’ve been in this game since 2014 and I can SENSE the general mood out there. People are getting a bit scared. Good buying opportunities are coming soon.

[Bitcoinaire]

How about the next 48hrs, do we feel that it will dump again? We can't still predict exactly what will happen and I could say that predicted it right today but I don't feel that you can make it in the next 48hrs.

With all this market flows, it sounds like that bullish seems to be impossible to show up, not in the bearish season also. If the market will still be like this until the year-end, it'll be fined for me.

I think we have reached the bottom for now. 4-5 days of sideways action. Maybe recovers a few hundred but stays under 10K

NEXT PREDICTION: By September 5th...bitcoin will be between 8200-8600 range. I know it’s a big range. But that’s still a huge drop from here.

My feeling is that euphoria is over for now.  We will see 8k, 7k, 6, maybe 5k.  On our eventual way up to 60k

Again, I’ve been in this game since 2014 and I can SENSE the general mood out there. People are getting a bit scared. Good buying opportunities are coming soon.

When do you think we'll break $20,000?

[LUCKMCFLY]

According to this news https://cointelegraph.com/news/bitcoin-price-hovers-around-9-500-following-sudden-price-drop worldwide analysts come out giving numbers and statistics, but of course, they do it later of the facts, not before the facts, in this case OP made a very good prediction with a much higher success rate, and you say that you feel that such a movement will come, that is something respectable, because you rely on your intuition It is something like what Jesse Livermore had (Great and Famous Speculator of the 1800s), where in his books he recommends that there are times where intuition should be followed.

Of course this is something that differs in people, in my case I rely on his teachings and following Wyckoff's theory, and doing my personal analysis, observing the market at Days I get this:



Given my analysis if it falls from the range of 8,978 USD, I find it very difficult to return to the range of $ 6k or $ 7k, since there are many people defending their positions, we are in the beginning of the bullish trend, of course it is my way of seeing trading.

[pooya87]

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Fair enough. But it’s currently $9400 range. 8K could easily happen today.

That said...I am long term holder. So when it goes down heavy, I look at it as a buying opportunity. I don’t trade, because I ALWAYS lose money that way.

a lot of things can easily happen. price could fall down to $100 in the next 48 hours or it can shoot up to $100k. but we have no reason to believe they are possible as there is no indication of market moving in either direction.
so far entering the $9k levels as i said is what happened before and has been happening ever since $13k was reached and could not be broken.

ps. if you don't trade then why are you getting excited about this dip?

4-5 days of sideways action.

you mean after 2 months of sideways we will see 4-5 more days of the same thing?

[Argoo]

I do not think what is happening and will happen in the near future a drop in the price of bitcoin. Now traditionally at the end of summer there is a relative calm in the markets and a drop in business activity. Therefore, regardless of how Bitcoin and other cryptocurrencies behave, I expect that in the fourth quarter the cryptocurrency market will rise significantly. Specific figures can already be announced with the onset of October.

[Wind_FURY]

Bear trap.

If I'm going to take my bullish hat off, I believe the OP might be slightly correct in that $9,000 will be tested again. But a "drop", and within "48 hours", no. Slow 14 day decline maybe.

[STT]

I can SENSE the general mood out there. People are getting a bit scared. Good buying opportunities are coming soon.

I cant, Ive still no idea what China or most of Asia is thinking.    They could be going into Bitcoin because of a requirement due to rising capital controls for all I know.  China is hard to read because their news is fake, their directives are authoritative but its also not actually what happens, their culture or thinking is really not familar and its opaque because they dont have free press, etc.  The problem in Hong Kong could be ironic in leading people to greater BTC use, not sure.    
   Generally we have a rise in stupid government and interference in economies from politics, too much debt and instability but thats a decades long trend.    Sentiment is kinda simpler to see that but still cant say for the whole world, the west seems to be the minority of what drives BTC .



This chart looks like the truck that drove over the side of the road on a steep hill and is now hanging.   However the chart can be marked in a number of ways but this was at least one trend lost.    I would like to short the recovery attempt rather then chase the previous fall expecting simple continuation.

I don't believe the fall will reach $8000 or far below $9000

It could be that way but I generally expect the market to upset everyone, all the carefully placed stops and orders get knocked over.   If thats the case we should be going down more then this, its too predictable to just repeat previous lows.

[romero121]

Bear trap.

If I'm going to take my bullish hat off, I believe the OP might be slightly correct in that $9,000 will be tested again. But a "drop", and within "48 hours", no. Slow 14 day decline maybe.

Quite evident, by the way the market at present is experiencing marginal fluctuation within specific price range. If I'm not wrong there is possibilities for the price correction to reach the $8500 range within a short period of time if the $9500 resistance level gets broken.

[figmentofmyass]

That said...I am long term holder. So when it goes down heavy, I look at it as a buying opportunity. I don’t trade, because I ALWAYS lose money that way.

ps. if you don't trade then why are you getting excited about this dip?

this is the internet, where the most important thing is being right.

Bear trap.

in a broad sense, yes. the monthly uptrend is very healthy.

but shorter term, we just broke down from a 2-week long bear flag, so we should expect more downward pressure IMO. i wouldn't say i'm expecting it but $8k is plausible over the next couple weeks. it would be a hell of a buying opportunity!

[Lucius]

NEXT PREDICTION: By September 5th...bitcoin will be between 8200-8600 range. I know it’s a big range. But that’s still a huge drop from here.

My feeling is that euphoria is over for now.  We will see 8k, 7k, 6, maybe 5k.  On our eventual way up to 60k

Again, I’ve been in this game since 2014 and I can SENSE the general mood out there. People are getting a bit scared. Good buying opportunities are coming soon.

I don't understand why you make predictions like this, you made a mistake, even though your title still claims otherwise. Currently there is no indication that $9000 can be so easy broken, but you're pushing it to the greater extreme by saying "maybe $5k".

Your predictions are based solely on your personal feelings and wrong assumptions such as "People are getting a bit scared", but from what, new economic crises maybe? So put your money in Bitcoin, and price will go up if a high enough demand is created.

What I see here is your personal wish for huge drop, for one purpose only, that you can increase your stock. I say before that I give you 10% chance for first prediction, and I give you only 5% for this one.

[exstasie]

Again, I’ve been in this game since 2014 and I can SENSE the general mood out there. People are getting a bit scared. Good buying opportunities are coming soon.

Your predictions are based solely on your personal feelings and wrong assumptions such as "People are getting a bit scared", but from what, new economic crises maybe?

He's talking about the general sentiment of the BTC market.

When the market is bottoming out and experiencing capitulation, there is usually extreme fear and pessimism in the air. Like when we were trading in the $3,000s and everyone began to expect the $1,000s. If people are only a bit scared, that suggests we're still in the middle stages of a downtrend and haven't experienced capitulation yet.

[Wilhelm]

NEXT PREDICTION: By September 5th...bitcoin will be between 8200-8600 range. I know it’s a big range. But that’s still a huge drop from here.

My feeling is that euphoria is over for now.  We will see 8k, 7k, 6, maybe 5k.  On our eventual way up to 60k

Again, I’ve been in this game since 2014 and I can SENSE the general mood out there. People are getting a bit scared. Good buying opportunities are coming soon.

<snip>
What I see here is your personal wish for huge drop, for one purpose only, that you can increase your stock. I say before that I give you 10% chance for first prediction, and I give you only 5% for this one.

He will pussy out at $5k... He will get scared.
As you say all his predictions are based on feelings. Feelings get in the way of good trading decisions...

[SquallLeonhart]

Hey OP, you could be right and it could also have been a coincidence, because I usually believe that what the market follows is speculation, and news, something must have happened that made it look that way because chart are more useful for trading activities, but remember that we also have some long term holders here in very large amount of bitcoin, which could drop drastically if someone drops his high holdings probably out of panic as a result of FUD news.

I would not completely rule out the fact that your chart worked, I think we will now better if bitcoin eventually drops low to that $8000 which I honestly don’t hope to see because I had bought at $9700 with a money that I urgently needed for something for my family upkeep.

[DrBitcoin]

NEXT PREDICTION: By September 5th...bitcoin will be between 8200-8600 range. I know it’s a big range. But that’s still a huge drop from here.

My feeling is that euphoria is over for now.  We will see 8k, 7k, 6, maybe 5k.  On our eventual way up to 60k

Again, I’ve been in this game since 2014 and I can SENSE the general mood out there. People are getting a bit scared. Good buying opportunities are coming soon.

<snip>
What I see here is your personal wish for huge drop, for one purpose only, that you can increase your stock. I say before that I give you 10% chance for first prediction, and I give you only 5% for this one.

He will pussy out at $5k... He will get scared.
As you say all his predictions are based on feelings. Feelings get in the way of good trading decisions...

Been HODLING BTC since $200. You are wrong.

[darewaller]

I don't care about the 5th of September deal, I hope the price will go up like he says this weekend because I do have to cash out come this Monday (Sunday night, doesn't matter) and that means if the price goes up above 10k for even a bit than I can cash out at the peak and than if it falls, nothing I can do about it.

However, if it stays around these numbers or even go down than I am pretty much screwed, I do have some more money stashed away but I prefer not to use them, I would like to spend the money I earned instead of cashing out my investments however lately my country became more and more expensive because of high inflation rate and money I am making is becoming less and less worthy here and I am not entirely sure how I can survive if bitcoin doesn't go up, I may have to soon cash out all my money to keep surviving and after that I have no clue what I could do. Hence for the love of god please increase bitcoins price

[fabiorem]

48 hours have passed and we didnt had a "huge drop". Instead the price just touched the four digits area, providing a new buying opportunity.

These bear traps will become more common as time passes. And of course, there will be people screaming for 3k. Dont forget the CSW shills and their mathematical FUD.

This is part of the cycle. If you look at the standard bubble chart you'll notice there is a bear trap period before it goes up.

[exstasie]

48 hours have passed and we didnt had a "huge drop". Instead the price just touched the four digits area, providing a new buying opportunity.

Give it some time. 48 hours was unrealistic to begin with. But the general idea ($8K range) is still possible, even likely. Higher time frames are clearly in a downtrend and we're only hovering a few hundred dollars above the July bottom. A general rule in trading is that if the market keeps hammering the same support (in this case the low $9,000s) over and over, it's likely to break.

[fabiorem]

48 hours have passed and we didnt had a "huge drop". Instead the price just touched the four digits area, providing a new buying opportunity.

Give it some time. 48 hours was unrealistic to begin with. But the general idea ($8K range) is still possible, even likely. Higher time frames are clearly in a downtrend and we're only hovering a few hundred dollars above the July bottom. A general rule in trading is that if the market keeps hammering the same support (in this case the low $9,000s) over and over, it's likely to break.

Certainly, its possible, but the OP said 48 hours, its on the title.

Im holding to buy anything right now, because the market is undecided as where to go.