Down below $9k! Buy the dip now?

[Driggers95]

And the bears are taking over!

In this situation right now, what price do you think will be their new support and resistance level?

The Bakkt hype continues!!! Most freaks out there think that Bakkt would skyrocket BTC, but it looks like we're heading south instead.

Volatility is so high right now, and I bet when I wake up later, it might be going even lower.

Do you think it's the right time to buy now? Or should we wait for BTC to dip even further?

I think it's time right now to accumulate more satoshis in my arsenal, as the bloodbath sale begins!!!!

Going by the technicals I think we are again entering into a bearish phase. The daily chart of btc shows a death cross on the EMA. Moreover there was a long descending triangle on the daily chart which is bearish too. Moreover bad news coming all around is another reason. However this can't be completely said a bearish phase because we are still up holding on the weekly chart. So no need to be worried. We can still become bullish with just one wave up.

Although the downtrend is clearly showing but as you said, things can still change, however, we still need to accept the fact that things are not so optimistic for bitcoin because it has had a period of sustaining prices above $10k for a long time, it was probably exhausted and unlikely to increase, so a weakening period to accumulate was the demand of bitcoin. And the important thing here is that we do not know where the accumulation range of bitcoin will be, which is a problem if we buy it now.

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[beerlover]

We have tried the bull phase so far and we failed, this is kinda the price we have to pay for failing on bull. Now, price was around $3.4k at the first days of the year, then price went as much as $13.8k, which means there was a lot of people who said they are willing to buy bitcoin and hype it up and want to see the price go up.

After that the price fell because many sold, and no matter how much people bought during $10k times the price kept going down every time they take it up, hence eventually price couldn't handle it and people who bought and were bull all said "it's enough" and stopped because after all their efforts they were done chasing bitcoins tail. Now we are in a bear run because all bulls with money are gone, we just have to keep going wherever the bears take us.

[illyiller]

It's still too early to go all in. I've got bids peppered throughout the $6,500 - $8K range, weighted towards the lower end. Maybe 15-20% of my bids have been hit so far.

My thinking is that worst case scenario, if this is a new bear market, it would be typical to at least bounce back to the apex of the triangle in the low $10,000s. Depending where we bottom, that would be a .382 or .5 retrace which isn't asking for much.

[BitcoinHunt3r]

I think dip is not come yet. Because it is too early if we want to make it as dip. Really have big possibility for bitcoin to dumped again. Maybe if bear trend will end, that is the dip. But dip itself really can't decided in what price. Only some people which get luck i think who can really buy at dip of price.

[Oceat]

I think dip is not come yet. Because it is too early if we want to make it as dip. Really have big possibility for bitcoin to dumped again. Maybe if bear trend will end, that is the dip. But dip itself really can't decided in what price. Only some people which get luck i think who can really buy at dip of price.

What dip are you actually expecting? $3k? $5k? If you are a trader you could be lucky to have that $7k range to buyback and reinvest again. It's so seldom to happen and see such dip during this year and if the price of Bitcoin will going to reach $10k range again you might regret it because you never reinvested when you have the chance to do so.

[terrorJR]

I think dip is not come yet. Because it is too early if we want to make it as dip. Really have big possibility for bitcoin to dumped again. Maybe if bear trend will end, that is the dip. But dip itself really can't decided in what price. Only some people which get luck i think who can really buy at dip of price.

What dip are you actually expecting? $3k? $5k? If you are a trader you could be lucky to have that $7k range to buyback and reinvest again. It's so seldom to happen and see such dip during this year and if the price of Bitcoin will going to reach $10k range again you might regret it because you never reinvested when you have the chance to do so.

Right now the price of bitcoin is $ 8.2k when it is right to buy because bitcoin won't touch $ 7k I think traders should buy it now because the profits will reach in front of you.

[btc78]

Well the price drops low to below $8,000 so it’s the chance of buying more .

But if we will look at the market movements now there’s a chance of lowering the price sooner.

But if you are confident enough to buy the why not?besides we can be sure that we will grow high again as we have seen this many times before

[adaseb]

If you want to buy the dip, you should at least do some basic analysis and buy it when there is traders exhaustion. Basically if you remember Nov 2018, each leg down had a huge crash but the ones that happened in first week of Dec 2018, the breaks weren't as deep as the prior breaks. Basically the bears tried to bring it down but couldn't. Why?  Simply because there was nobody left to sell to bring price lower. So bears realised this and they had to cover their positions before a rally started. And they actually had a long time to cover before the huge surge started.

Right now its no different. I am thinking we will break again and hopefully we lose $100 or so and not $1000. The latter would be bad because we would be sitting on $6400 support and hopefully this holds because it would be the last line of defense for the bulls.

[Darooghe]

And the bears are taking over!

Do you think it's the right time to buy now? Or should we wait for BTC to dip even further?

Honestly, I'm happy about it, I was waiting for a good buy day and this was it. I was super close to pulling the trigger at $7,800 but I second guessed myself and ended up buying at the first rebound when it was $8,400, its now back down a bit but I don't even care, I was ready to buy at anything below $10,000, and under $9,000 I really feel like I won a Lamborghini!
Tomorrow, we will see $10,000 again, We have seen this many times, for those who expect $3000 or $4000 neither in this life nor in the other, BTC does not go down more than $7,000 more ever in life.

[Herbert2020]

Here's my strategy.

1. Sell now, buy back at $4800, sell at $5500.
2. Buy back at $2800, sell at $3500.
3. Buy back at $1200, sell at $2100.
4. Forget about this Bitcon.

It's look like you are losing hope in Bitcoin as you are already predicting the end of it. Maybe you forgot or maybe you don't know that Bitcoin has been in this difficult market situation so many times before but still it survives so instead of panicking or losing your hope then why we not think of it that this is an opportunity to buy Bitcoin at cheaper price for our future investment.

look at his username, he is the disciple of the infamous kwukduck who has always been talking about bitcoin dropping each time we have a tiny drop let alone a big one like this. it has nothing to do with losing hope but him thinking if he spams bitcointalk he can fill his short positions and make profit by spreading FUD.

[Sahyadri]

According to Fibonacci pattern, the recent retracement to 0.786 and then a jump back to $8k indicates that the market has enough volume as of now to sustain the price above $8k. But we need to wait at least for a week to check whether the bears have been exhausted or not. There might be another wave of correction in a few days. Price might retrace to 0.618 level too. There is a decent probability to that.

[legendster]

According to Fibonacci pattern, the recent retracement to 0.786 and then a jump back to $8k indicates that the market has enough volume as of now to sustain the price above $8k. But we need to wait at least for a week to check whether the bears have been exhausted or not. There might be another wave of correction in a few days. Price might retrace to 0.618 level too. There is a decent probability to that.

Doesn't seem right to me. Can you share the source of this chart? I'd like to take a look. Very frequently people draw a fib pattern wrongly and then other people go on to quote it without realizing that it was incorrectly traced.

[Ferris419]

The crypto market movements are very confusing right now. Yesterday I thought the price can go lower than 7500 USD, but the Bitcoin price became 8200 USD. Then I assumed it can go to 9K to 10K USD very suddenly, but the price is slightly decreasing today. Though Bitcoin at 8100 USD is very good to buy, but who knows, it can go down again! Our's expectation about Bakkt release come out wrong!

[legendster]

The crypto market movements are very confusing right now. Yesterday I thought the price can go lower than 7500 USD, but the Bitcoin price became 8200 USD. Then I assumed it can go to 9K to 10K USD very suddenly, but the price is slightly decreasing today. Though Bitcoin at 8100 USD is very good to buy, but who knows, it can go down again! Our's expectation about Bakkt release come out wrong!

You know what kind of people make assumptions?

If you have had credible leads for your assumptions then you're in the green, for sure. But what it seems to me is that you are basing your assumptions on hunches that have no real-world basis and hence every time you guess something, the opposite happens.

Try to learn how to read market movements, try making dry predictions and then put some of your own money into those predictions. By doing that, you would be cutting through the useless shit that your own mind comes up with.

[leowonderful]

I've bought a bit more on this dip in the upper $7ks mostly because I noticed that the weekly candle neatly bounced off the 50 Weekly SMA, and we've since stopped making lower lows on the 4H, but rather higher lows. I'm not completely betting that this is the bottom, because there's definitely potential that we could continue downwards deeper into the $7ks, but I'll be waiting for my bids to be filled if that does happen.

[exstasie]

Buy the dip? I don't know, the self proclaimed top crypto analysts now say Bitcoin will for sure go to $6000 at best and most probably to $3000 or lower  

I've also noticed lots of calls for $6,000 and lower:
https://www.youtube.com/watch?v=BGTEGN3Gt7w
https://bitcoinist.com/bitcoin-btc-price-eyeing-drop-below-usd-6000/
https://www.newsbtc.com/2019/09/28/bitcoin-bottom-6000-surge-all-time-high-halving/

Stay on your toes though. When everyone starts betting on the same thing, it usually doesn't happen. In late 2018, most people were expecting $2,000s or $1,000s. They never came.

[TGD]

I already forgot when is the time I stop following experts or popular crypto speaker regarding the price of bitcoin, since I don't plan to trade my BTC yet, I will just wait and buy some more in times I read events that might affect the price or if I have extra amount to buy it at some dip even just a small dip in that week to just add some BTC in my holdings. It will depend on our profile and ability to speculate the prices and read graphs so we can still be profitable if we tend to buy and sell some.

[STT]

Price rose off some support and is roughly positive on a week basis so its a reasonable rise thats occurred overnight as I thought it might.   Failure to move down has been quite bullish .



Its only a short term move and the top prices now are the 200 day average which is significant discouragement, check how it reacts to this for a bigger recovery.

[Omega Weapon]

snip

And the bears are taking over!

In this situation right now, what price do you think will be their new support and resistance level?

The Bakkt hype continues!!! Most freaks out there think that Bakkt would skyrocket BTC, but it looks like we're heading south instead.

Volatility is so high right now, and I bet when I wake up later, it might be going even lower.

Do you think it's the right time to buy now? Or should we wait for BTC to dip even further?

I think it's time right now to accumulate more satoshis in my arsenal, as the bloodbath sale begins!!!!

During a few hours we were able to see a price below 8000 but personally I do not think that this is the right moment to buy bitcoin, I say this because to me this is only the beginning we are probably going to need a few months to see it but the price is probably going to go a lot lower, the best way to know if we reach the bottom is to see how the rest of the investors are behaving, if they are still positive about a possible recovery by bitcoin then it is probably too soon to buy.

[error08]

Buy the dip? I don't know, the self proclaimed top crypto analysts now say Bitcoin will for sure go to $6000 at best and most probably to $3000 or lower  

I've also noticed lots of calls for $6,000 and lower:
https://www.youtube.com/watch?v=BGTEGN3Gt7w

Stay on your toes though. When everyone starts betting on the same thing, it usually doesn't happen. In late 2018, most people were expecting $2,000s or $1,000s. They never came.

I have subscribed and following this guy channel "dvir oren" for months, one thing for sure on his opinion; "Impossible to know for sure, it's more likely than not".
At this point, bitcoin becomes more volatile and we should wait for the bottom which probably at $6K as the market seems so bearish right now and the bounces are weak, manipulated by the whales that trade on Bakkt. So, if you want to make profits, sell now and wait for the price drop to the bottom then buy the dip in order to increase your portfolio.