What is going on in the markets

[ventelo]

I noticed that after the BTC went up in the early of 2018 dropped to $3000 at the end of the year i am afraid that may happen this year and price drop to around $3000
According to technical analysis, the price of BTC will sure drop around $7000 soon.
I understand technical analysis may not work well in this market.
Do you agree with this?

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[joelsamuya]

Many are indeed shocked by the sudden reversal going right now with Bitcoin but I know that there are experts who already predicted on this to happen and at the same time they are proposing that after this slide there will be a big upward or a big bull run. I am just hoping that days from now a bright new day can be happening for Bitcoin. Those who are looking for a good window of opportunity to join the Bitcoin should start to get ready now to get into the action. Right now, Bitcoin is at $8,351.10 and still more shedding can be coming.

[BrewMaster]

nothing new really.
price kept testing two prices: the resistance at $10500-$11000 and the support at $9500-$9000 and had to break one of these eventually to break the sideways. it happened to be the support and since it went below that mark, the "avalanche" started pushing the price way too low as it is the characteristics of a market with thin order books.

According to technical analysis, the price of BTC will sure drop around $7000 soon.

actually TA showing between $9000 and $8800 as the bottom of that kind of drop nowhere near $7000

[yazher]

After all the $10k+ mark the volatility is still there that's why investing in bitcoin can be brutal sometimes.
I wonder when will it be back again to $10k. If it does, then the question is when will it be?
Most of the investors are in panic mode this time only few can understand that the price will somehow come back to normal again.
Mostly after a sudden fall like this, there are people who will enjoy this kind of scene and will invest when a time like this will come.

[romero121]

I noticed that after the BTC went up in the early of 2018 dropped to $3000 at the end of the year i am afraid that may happen this year and price drop to around $3000
According to technical analysis, the price of BTC will sure drop around $7000 soon.
I understand technical analysis may not work well in this market.
Do you agree with this?

Technical analysis won't be that perfect everytime, and TA is good with trading. No matter how low the price has fallen, but surely it'll get recovered. This needs time to recover, but very few has got the patience while majority just get into panic and end up losing. Before the end of the year there is more chance for price to lower down to $7000, which will once again gets recovered by the time of halving.

[Mr.Ease]

Technical analysis doesnt work on manipulated and unregulated, speculative investments...

Altcoins havent recovered.

The only indicator I use is Doge coin. If doge pumps, its good times ahead.

[Decksperiment]

We are now experiencing a period where technical analysis does't fully guarantee a more successful trade by the fact that crypto volatility isn't as predictable as compared before and expectations are almost identical to wild guess! Now I wonder if there is a force hidden behind all these developments?  I though hope its not the work of market manipulators?

[DaftAjax]

I noticed that after the BTC went up in the early of 2018 dropped to $3000 at the end of the year i am afraid that may happen this year and price drop to around $3000

Definitely! That was a really rough time for the majority of ppl. I wonder those ppl who bought Bitcoin at the price of $19k felt back then when suddenly it dropped to $3k.

According to technical analysis, the price of BTC will sure drop around $7000 soon.
I understand technical analysis may not work well in this market.
Do you agree with this?

Most of the time Technical Analysis works for Fiats, but as you may know, ppl were also surprised when Bitcoin skyrockets. So the TA may be accurate/close this time, I mean its believable to the least.

And not to mention in the past few months its price is rather "stable" if you will.

[qiwoman2]

After all the $10k+ mark the volatility is still there that's why investing in bitcoin can be brutal sometimes.
I wonder when will it be back again to $10k. If it does, then the question is when will it be?
Most of the investors are in panic mode this time only few can understand that the price will somehow come back to normal again.
Mostly after a sudden fall like this, there are people who will enjoy this kind of scene and will invest when a time like this will come.

Yeah, the problem is this always happens, especially when the Media is talking positively about Bitcoin. Whenever people start investing, the whales and big pockets that start shorting to take out big profits. They own tons of Bitcoin but they don't care to hedge and make a ton of USD by shorting it tradinf futures style, then they rack up all the cheap Bitcoin and amass even more of it when everyone else is panic selling to the bottom. Looks like soon we will see another break out to the bottom, maybe going back to around 3.5- 4k USD and we might have to sit there for months again, going slowly up after another prolonged bear market to test 10k USD again. I doubt BTC will rise too much after the Bitcoin halving event, might be some fomo but it's just so easy to short it now with trading sites like Bitmex and Bybit.

[pawanjain]

According to me technical analysis works well only when the system has equivalently distributed the amount of money which in this case has not happened since most of the money is being held by the whales.
Any whale can easily manipulate the market and may be he has been doing it all this while. So depending on technical analysis is probably the worst thing to do in crypto.

[beliomir]

I noticed that after the BTC went up in the early of 2018 dropped to $3000 at the end of the year i am afraid that may happen this year and price drop to around $3000
According to technical analysis, the price of BTC will sure drop around $7000 soon.
I understand technical analysis may not work well in this market.
Do you agree with this?

I think that one should not be afraid that Bitcoin will fall, it is necessary to prepare for this. There should be a strategy for all events

[mk4]

Technical analysis may only work to a certain extent. In the cryptocurrency markets, there are simply just so much things that could affect the prices regardless if negative or positive. Heck, even a Tweet can move prices. TA can't see that.

Based on what you said though: "According to technical analysis, the price of BTC will sure drop around $7000 soon.", you probably don't understand technical analysis. Technical analysis only helps you with the odds and with risk:reward ratios. Technical analysis doesn't help you predict.

[FlamingFingers]

Do you agree with this?

I agree with this,  because with the way the market is going,  it's not looking too good to reach it's previous all time high,  a friend of mine that is so good in technical analysis said that bitcoin has attain it's all time high this year around $12k+,

Initially I doubted him, Because TA analysis is not 100% right all the time  but with the situation of the market now I'm begging to believe him with the situation on ground

[kryptqnick]

I noticed that after the BTC went up in the early of 2018 dropped to $3000 at the end of the year i am afraid that may happen this year and price drop to around $3000
According to technical analysis, the price of BTC will sure drop around $7000 soon.
I understand technical analysis may not work well in this market.
Do you agree with this?

Technical analysis is a beautiful fantasy. It's a prediction which is as good as any other (or, like mjglqw says, and then there's a special value of it but not in terms of predictions) but is covered in a sophisticated convincing form. What makes it different from other ways of predicting the prices, though, is that since many people believe in TA and act according to its predictions as well as share them with other people, it can be a self-fulfilling prophecy. You know, like spreading FUD leads to prices going down, but in a way more serious than that. Anyway, the current price drop is significant, that's true, but it does not mean that we won't see Bitcoin around $10k in a couple of days.

[ventelo]

TA may not predict the next move but can show you where the price can run or return, for example support and resistance can give us good picture about the market.

[ventelo]

Technical analysis may only work to a certain extent. In the cryptocurrency markets, there are simply just so much things that could affect the prices regardless if negative or positive. Heck, even a Tweet can move prices. TA can't see that.

Based on what you said though: "According to technical analysis, the price of BTC will sure drop around $7000 soon.", you probably don't understand technical analysis. Technical analysis only helps you with the odds and with risk:reward ratios. Technical analysis doesn't help you predict.

Yes, TA doesn't help to predict, but give you good picture.

[Rajbir1994]

If I agree with you according to the technical analysis report then the BTC holder will face a great loss. This wouldn't be a good idea to keep much BTC in hand. What do you think?

[Lance203sin]

Due to bitcoin high volatility its almost impossible to predict anything. But i hope that this drop is temporary

[ventelo]

Technical analysis may only work to a certain extent. In the cryptocurrency markets, there are simply just so much things that could affect the prices regardless if negative or positive. Heck, even a Tweet can move prices. TA can't see that.

Based on what you said though: "According to technical analysis, the price of BTC will sure drop around $7000 soon.", you probably don't understand technical analysis. Technical analysis only helps you with the odds and with risk:reward ratios. Technical analysis doesn't help you predict.

From 2 month TA show the price may drop to $8300, but i am not sure i am not sure about this at this time, but now i am sure it will drop to $7000.

[Decksperiment]

I noticed that after the BTC went up in the early of 2018 dropped to $3000 at the end of the year i am afraid that may happen this year and price drop to around $3000
According to technical analysis, the price of BTC will sure drop around $7000 soon.
I understand technical analysis may not work well in this market.
Do you agree with this?

Technical analysis is a beautiful fantasy. It's a prediction which is as good as any other (or, like mjglqw says, and then there's a special value of it but not in terms of predictions) but is covered in a sophisticated convincing form. What makes it different from other ways of predicting the prices, though, is that since many people believe in TA and act according to its predictions as well as share them with other people, it can be a self-fulfilling prophecy. You know, like spreading FUD leads to prices going down, but in a way more serious than that. Anyway, the current price drop is significant, that's true, but it does not mean that we won't see Bitcoin around $10k in a couple of days.

This scenario of high crypto volatility is getting more natural to us that in the longer time, the community will be used to it consequently. I hope some new comers in the crypto scene will not panicked in these kinds of market activity but I'm pretty sure crypto markets will have a good rebound eventually.