We are about to hit 8K and below...soon (see charts)

[fabiorem]

I dont know if it is still early to ask, but... who sold the bottom?

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[peter0425]

Seems like I will retract my first post here 😅

Now Bitcoin is falling up to below $8,500 as I typing this comment and market cap continues to fall so I can see more downwards from the Cryptocurrency

No wonder your prediction is soon to happen,if not today at least early tomorrow

I dont know if it is still early to ask, but... who sold the bottom?

The question is why “ Why Need To Sold when Bottoming “

Isn’t if much applicable if we interested in “Buying” when bottom reached?

[milewilda]

we just crossed below $8k on bitstamp---excellent call, doctor! i have to admit, it looked touch and go for a minute. i thought the upper bound of the triangle was gonna break on that spike to $10.4k last week.

you must feel vindicated now eh? all the bulls were giving you a hard time after that "next 48 hours" call. now they're all quiet and licking their wounds!

I would like to hear out on what would be their words at the moment.We didnt even hit 8k below but we are almost there.
Price had been 8300 a while a go and the movement is like a dead cat bounce.Price starts to consolidate.Possible bottom this time?

The question is why “ Why Need To Sold when Bottoming “

Isn’t if much applicable if we interested in “Buying” when bottom reached?

The question is,which price is the bottom line?lol

[DrBitcoin]

I’m Back!!!
The Nostradamus of half-ass predictions.
This time...I’m using my whole ass!

Be very cautious people. We will see 8K within the next few weeks. Not by sept 5th. But soon.
Sentiment feels negative. This thing is breaking down soon...on its way back to 20K.

I am an amateur. I know less than any professional. Make no decisions based on this post. I only HODL.
But personally I was waiting to buy more sub 9K which I think is about to happen this month. Latest early OCT.

No way we are breaking positive from this descending triangle IMO.

we just crossed below $8k on bitstamp---excellent call, doctor! i have to admit, it looked touch and go for a minute. i thought the upper bound of the triangle was gonna break on that spike to $10.4k last week.

you must feel vindicated now eh? all the bulls were giving you a hard time after that "next 48 hours" call. now they're all quiet and licking their wounds!

Thanks.  I am not a trader, but having been in this space since 2014 (check my history), I can feel which way the wind is blowing.  That descending triangle was so clear even an amateur like me could see it.  Those usually break down.  And right now...after that huge runner to 14K (most of which I think was pumped by tether), the market needed a good solid correction. 8K range felt right.

Anyways...I am a bull long on bitcoin.  I think 60K-100K is very very possible.

Today I cashed in on my prediction (sold in the 10.5K range, bought back at 8.6K).

My next prediction...WE ARE GOING LOWER!!!! My guess...we hit 6.8K in the next few weeks...lets say by October 20th 

[DrBitcoin]

NostraAnus the $8k prophet of BTCears 

Whose the NostraAnus now!!!
Wait..still me.

[JL0]

I’m Back!!!
The Nostradamus of half-ass predictions.
This time...I’m using my whole ass!

Be very cautious people. We will see 8K within the next few weeks. Not by sept 5th. But soon.
Sentiment feels negative. This thing is breaking down soon...on its way back to 20K.

I am an amateur. I know less than any professional. Make no decisions based on this post. I only HODL.
But personally I was waiting to buy more sub 9K which I think is about to happen this month. Latest early OCT.

No way we are breaking positive from this descending triangle IMO.

we just crossed below $8k on bitstamp---excellent call, doctor! i have to admit, it looked touch and go for a minute. i thought the upper bound of the triangle was gonna break on that spike to $10.4k last week.

you must feel vindicated now eh? all the bulls were giving you a hard time after that "next 48 hours" call. now they're all quiet and licking their wounds!

Thanks.  I am not a trader, but having been in this space since 2014 (check my history), I can feel which way the wind is blowing.  That descending triangle was so clear even an amateur like me could see it.  Those usually break down.  And right now...after that huge runner to 14K (most of which I think was pumped by tether), the market needed a good solid correction. 8K range felt right.

Anyways...I am a bull long on bitcoin.  I think 60K-100K is very very possible.

Today I cashed in on my prediction (sold in the 10.5K range, bought back at 8.6K).

My next prediction...WE ARE GOING LOWER!!!! My guess...we hit 6.8K in the next few weeks...lets say by October 20th 

Let's say we'll see the 6.8K or not. Do you think we'll see the 3K again?

[DrBitcoin]

I’m Back!!!
The Nostradamus of half-ass predictions.
This time...I’m using my whole ass!

Be very cautious people. We will see 8K within the next few weeks. Not by sept 5th. But soon.
Sentiment feels negative. This thing is breaking down soon...on its way back to 20K.

I am an amateur. I know less than any professional. Make no decisions based on this post. I only HODL.
But personally I was waiting to buy more sub 9K which I think is about to happen this month. Latest early OCT.

No way we are breaking positive from this descending triangle IMO.

we just crossed below $8k on bitstamp---excellent call, doctor! i have to admit, it looked touch and go for a minute. i thought the upper bound of the triangle was gonna break on that spike to $10.4k last week.

you must feel vindicated now eh? all the bulls were giving you a hard time after that "next 48 hours" call. now they're all quiet and licking their wounds!

Thanks.  I am not a trader, but having been in this space since 2014 (check my history), I can feel which way the wind is blowing.  That descending triangle was so clear even an amateur like me could see it.  Those usually break down.  And right now...after that huge runner to 14K (most of which I think was pumped by tether), the market needed a good solid correction. 8K range felt right.

Anyways...I am a bull long on bitcoin.  I think 60K-100K is very very possible.

Today I cashed in on my prediction (sold in the 10.5K range, bought back at 8.6K).

My next prediction...WE ARE GOING LOWER!!!! My guess...we hit 6.8K in the next few weeks...lets say by October 20th 

Let's say we'll see the 6.8K or not. Do you think we'll see the 3K again?

No...I do not think we will see 3K again.  Enough dumb money saw the rise to 20K...and didn't get in when it rose to 14K...but wish they did.
I think enough people are watching that 3K number thinking "I won't miss it this time."

So for that reason, I don't think we will see 3K again.  I wish we would.

I think that 6K level could be the floor.

That said...take my words with a grain of salt.  I'm a veteran in the space...but honey badger don't care!!

[STT]

I'm glad someone else called it a descending triangle but its not always certain the outcome even if the pattern is recognizable, we just get some forewarning of the likely possibilities.    So the point really now is how does it act after hitting outside this triangle, does it now determine direction in the bigger picture will be downwards.   I have it at some prior support which is just a trend, I think we can bounce a bit and this would also be part of a larger sell if it can hit a ceiling and tire out buyers.



So lets see if it can keep 9000 as an over head ceiling and then it might also lose 8100.   I would not normally not expect it to just hit a declining trendline and finish its selling in a simple way.
 7340 is an initial target past 8100 if it should push past right away.

[Stedsm]

...
So lets see if it can keep 9000 as an over head ceiling and then it might also lose 8100.   I would not normally not expect it to just hit a declining trendline and finish its selling in a simple way.
 7340 is an initial target past 8100 if it should push past right away.

I believe we're in the middle of institutional traders taking it all in their hands and decide the direction of the markets and maybe the selloff was to make these type of investors get in at lower while also considering a fact that selling it off in leveraged positions make these SHORTS higher gains compared to those who open long leveraged positions. And since you already predicted $7340 past 8100, let us not forget that BTC already went near $7800 on most exchanges in minutes while this dump took place, so I currently believe that the game has already been played, chaos has been nested in the minds of longs where everyone is scared of taking a long position while it is also advisable to stay away from the markets before we see how and where BTC closes its weekend.

[exstasie]

I dont know if it is still early to ask, but... who sold the bottom?

Too soon. We need to see a sign of strength first, like a rebound into the previous range. Once we're back at $10K or so we can be pretty sure the bottom is in. Until then.......we could go deeper.

Longs only dropped 6 or 7% on Bitfinex. Disappointing! Makes me wonder if the bears have more in store for us.

[Lucius]

I have to admit that I gave very little prospects to OP prediction, but still he was right. It was inevitable that things will go in one direction, the price was too long at same level, and if there is no power to push up, down is only possible direction.

We all know it's very easy for BTC to move $1000 up or down, and therefore it should not be strange if price go above $9000 tomorrow, but also $7000 or even lower is possible. I can not say if Bakkt is a reason for this drop, or that speculation about drop-in hash power, but obviously it's still very easy to bring down the price if a large quantity of coins is sold in a short time.

[fabiorem]

I dont know if it is still early to ask, but... who sold the bottom?

Too soon. We need to see a sign of strength first, like a rebound into the previous range. Once we're back at $10K or so we can be pretty sure the bottom is in. Until then.......we could go deeper.

Longs only dropped 6 or 7% on Bitfinex. Disappointing! Makes me wonder if the bears have more in store for us.

Im going to wait for $6800. This might be the definitive bear trap, as a lot of nocoiners are waiting for 3k.

[el kaka22]

I have always said even back when topic first started, guessing the price will "eventually fall" is not really a great prediction in itself, sure its good that you knew exactly how much it will fall and stop but the timing is a bit important as well.

Just to give an example, I will say "bitcoin will be 10k one day" , if it eventually goes above 10k that doesn't mean I know what I am doing, that just means I didn't give a time and a sensible guess.

I hope you are wrong on the 6k though, I have a ton of bitcoins laying around and I really want to sell them soon, without price going up I am not touching any of them and I am not entirely sure how long that will be which is why I hope you are wrong because even going back above 10k is difficult in itself and going to 6k than going to 10k would be even harder.

[exstasie]

I'm glad someone else called it a descending triangle but its not always certain the outcome even if the pattern is recognizable, we just get some forewarning of the likely possibilities.

Including the possibility of a "false breakout." I was on the lookout for this possibility before yesterday's selloff:

Just watch out for a classic head-hake first. Shorts are rising but still unimpressive, and longs keep piling on. Bulls don't seem ready to break out either. I wouldn't be surprised to see a shakeout like this first before snapping back up like a rubber band:


http://thepatternsite.com/st.html

Further downside below $8K is possible, and even likely, but I believe it will be pretty short lived. That's usually the case in the latest phases of accumulation schematics.

Interestingly, in Elliot Wave, Bitcoin's chart wouldn't have been deemed a triangle at all.

[FlamingFingers]

Even with your chat, I don't see the drop coming. You have the trading area at the moment the chat is still up there and that area is where price still is. I'm expecting a more bull move with a sharp spike that can hit the resistance on $13,... either to be sustained.

Sometimes TA analysis works out and sometimes it doesn't work out,  in the scenario of OP he got it right,  and it's quite obvious that his chart explains it way better, not just a guess work,  some even went ahead to predict as low as $4k, it's gonna be bad for the market,  $13k your speculated was what someone said is all time high price for bitcoin in 2019, I'm hoping he's wrong too, ain't feeling good seeing Btc down

[Oilacris]

Even with your chat, I don't see the drop coming. You have the trading area at the moment the chat is still up there and that area is where price still is. I'm expecting a more bull move with a sharp spike that can hit the resistance on $13,... either to be sustained.

Sometimes TA analysis works out and sometimes it doesn't work out,  in the scenario of OP he got it right,  and it's quite obvious that his chart explains it way better, not just a guess work,  some even went ahead to predict as low as $4k, it's gonna be bad for the market,  $13k your speculated was what someone said is all time high price for bitcoin in 2019, I'm hoping he's wrong too, ain't feeling good seeing Btc down

Anything can really happen into this speculative market.Ive seen how OP being bashed down when the price didn't able to hit on a certain point but now
it did happen but we aren't still below it as stated on the title.

Technicals can either work or not and it isn't really bad to give out our own views but people do really love to criticize on what others trying to share up.
We are all speculators on here.

Going below 8k is too far down stretched but its still possible.

[talks_cheep]

Much fear and panic in the hearts of men today. A famous oracle once said "Buy more bitcoins when they are selling in fear, sell them when they're buying in euphoria," or something like it.

I'm buying more today.

I predict $20k bitcoin by end of this year. Probably $40k or higher. Don't forget the halving in 8 months or so.

[STT]

Im not going to say you are wrong to buy because its always a personal choice and management of your portfolio, cash flow and all sorts of considerations.   However I'd rather not buy early, its much harder to do but I'd like to get the spike down as I often have the trend on my chart but it happens when I'm not looking most of the time.
   For now I dont think we get much of a spike, we get what I think is called a relief rally.    Its a retraction of the down move though it doesnt mean its over but its natural we rise before any further action.   However I'm still learning so I'm never quite sure I've put the right piece in the right place and time of course.



So its a break above 2 day average and for a long I want to see it stay above that measure on this 1hr bars.   I'm too busy to watch it, Im not a great fan of stops and off hand approach but thats my take anyway for today going into tomorrow.
  It got to 50% recovery earlier or immediately after, this now also adds some time so it could get back up.

[The Sceptical Chymist]

OP, I gotta hand it to you.  I don't believe in TA, but I wrote this not too long ago in this thread:

I'd love to be able to bookmark this thread so I can check to see if you were right when the time comes, but "soon" is just too damn vague.

And I have to say, your prediction of "soon" was pretty accurate (although bitcoin hasn't actually hit $8k yet).  Bitcoin is at $8500 or so as I'm writing this, and I'm not sure what's going on besides there being more sellers than buyers right now.  If this continues, we definitely could hit $8k although I'm hoping bitcoin rebounds instead of dropping further.  We're all probably hoping for that.

Instead of panic selling, I bought some bitcoin instead.  Not too much as I don't have a lot of spare money for investing, but I figure this is a fire sale.  Bitcoin's probably going to get back above $10k fairly soon.  Got any predictions about that, OP?

[figmentofmyass]

And I have to say, your prediction of "soon" was pretty accurate (although bitcoin hasn't actually hit $8k yet).

bitstamp hit $7998 so technically he's already hit the mark.

Instead of panic selling, I bought some bitcoin instead.  Not too much as I don't have a lot of spare money for investing, but I figure this is a fire sale.  Bitcoin's probably going to get back above $10k fairly soon.  Got any predictions about that, OP?

all eyes are on his next call now. down to $6800 on the way up to $60k+. i doubt we'll get that low myself but hey, he's the nostradamus of the day, not me!