4 reasons why Bitcoin has bottomed out

[darewaller]

I really do think Bitcoin has bottomed out right now.
1st we haven't seen any close below the weekly EMA and it acted as support
2nd Correction of 45% one of the highest ones so far
3rd Bullish divergence on the weekly chart
4th triple bottom reversal pattern

For my complete analysis check my YouTube video : https://youtu.be/XUyoGTJH8FY

I think so too and I also believe that this is actually the best entry point right now, this is the time for people to accumulate because there will be a full rebound of bitcoin within the some weeks' time, I don’t expect any reversal of price again, I know we have some people that are still expecting further decline to maybe $7000, which I fully doubt if this can be possible again. 

We have some doubting Thomas and that is how they will still see this value slip off now because they are still expecting more bottoms, from what I can see, I fully agree with you. Bitcoin will start recovering right now and maybe we could start with the former $10000 we had a drop from, and from this $10k, bitcoin can surely start breaking more barriers that could lead the value to $15k.

[NathanJB]

Nice analysis but then Bitcoin is acting away from all those. Most of the TAs are failures in terms of grasping the next movement of Bitcoin. A lot of great TAs at face value failed to really foresee the pattern that Bitcoin is going to make in the next hours, days, and months. But nice try. Everyone's trying to catch Bitcoin's next step. And what makes trading fun at the same time frustrating is that Bitcoin's next step is too elusive.

[pamsugas]

I agree with you that bitcoin will not fall from $7500 because when the correction in the bull run market bitcoin has never fallen from 50% and currently bitcoin has touched a correction of 44%.

I think in the next 1-2 weeks bitcoin will come back at $ 10k

[supercanada1]

Nice analysis but then Bitcoin is acting away from all those. Most of the TAs are failures in terms of grasping the next movement of Bitcoin. A lot of great TAs at face value failed to really foresee the pattern that Bitcoin is going to make in the next hours, days, and months. But nice try. Everyone's trying to catch Bitcoin's next step. And what makes trading fun at the same time frustrating is that Bitcoin's next step is too elusive.

This is the reason why I keep on saying no one really knows bitcoin. You think you know enough about it and can do the predictions accurately, here it is proving your predictions incorrect and telling you to learn and explore me more. Bitcoin is indeed a beneficial game abut all big things come with big efforts. Still with the fact that it is going to gain a lot of value, it is the easiest way to become rich.

[leowonderful]

If anything, I find it likely we're going to have another period of sideways before a potential move up or a move down. We did have a short attempted pump above the 200 MA, but that was rejected and ended up in yet another bleed down to support near $7.7k/7.8k, and it just doesn't seem like there's enough buying action going on at this price range for another move to $9k and $10k like people are calling here. Still a decent price to be dollar cost averaging and accumulating in anticipation for a future move upwards.

At the very least, we are making higher lows at the moment on the daily, though not by very much.

[redsun114]

Hey guys,

I really do think Bitcoin has bottomed out right now.
1st we haven't seen any close below the weekly EMA and it acted as support
2nd Correction of 45% one of the highest ones so far
3rd Bullish divergence on the weekly chart
4th triple bottom reversal pattern

For my complete analysis check my YouTube video : https://youtu.be/XUyoGTJH8FY

But it doesn't yet,we faced dump after this post as well and chances for more dump to hit $7000,any new analysis after that dump?

That dump is a minor dump and it is too early to start judging it by what the op said, the value will definitely still rise back, the bulls are really keeping the market stronger, I know that there has been many people predicting that bitcoin will still bottomed more at $6000, anyway, we are still hear watching if those who predicted it will be mocked, or it will surely drop down that low.

If it drops, it will still be another point of investment for many people, because this could be the last $6000 we will actually see again after which the next price action will be bull run, this $6000 drop could actually be the bull run point that some analyst are greatly waiting for as a catalyst to the next bull run we will have and I am suspecting it also because I am also planning to buy at that $6k, so as other are too.

[NathanJB]

Hey guys,

I really do think Bitcoin has bottomed out right now.
1st we haven't seen any close below the weekly EMA and it acted as support
2nd Correction of 45% one of the highest ones so far
3rd Bullish divergence on the weekly chart
4th triple bottom reversal pattern

For my complete analysis check my YouTube video : https://youtu.be/XUyoGTJH8FY

But it doesn't yet,we faced dump after this post as well and chances for more dump to hit $7000,any new analysis after that dump?

That dump is a minor dump and it is too early to start judging it by what the op said, the value will definitely still rise back, the bulls are really keeping the market stronger, I know that there has been many people predicting that bitcoin will still bottomed more at $6000, anyway, we are still hear watching if those who predicted it will be mocked, or it will surely drop down that low.

If it drops, it will still be another point of investment for many people, because this could be the last $6000 we will actually see again after which the next price action will be bull run, this $6000 drop could actually be the bull run point that some analyst are greatly waiting for as a catalyst to the next bull run we will have and I am suspecting it also because I am also planning to buy at that $6k, so as other are too.

We all are well aware of the fact that bitcoin is going through downfall at the moment and we all also know that the rise comes in the last month of the year or so. So what else can we expect from bitcoin and whole digital market during dip other than giving us a chance to buy our favorite coin at least price possible. Like you, I also think that this is going to be the last time we will ever see bitcoin worth 6k dollars.

The last time I heard that 'last time' phrase was before Bitcoin hovered for a long time over $10,000 and even rose above that. They say, it was the last time Bitcoin will ever touch that 4-digit price. I was happy with them. I was also hoping they were right. And yet here were are at $8,000, just fresh from $7,000. Funny how people are bullish when the price is not. And who would have imagined that Bitcoin would touch $3,000 once again when it already reached $20,000?

[1Referee]

Still a decent price to be dollar cost averaging and accumulating in anticipation for a future move upwards.

Still? It's a fantastic time to dollar cost average! Every lower price you buy at means more satoshis that you can scoop up. I can assure you that dollar cost averaging feels MUCH better on the way down than on the way up. It's the only time where fiat is gaining purchasing power, so why not utilize it to the best of your ability before that opportunity is gone again?  

At the very least, we are making higher lows at the moment on the daily, though not by very much.

Also lower highs, which means that the range within the price can freely move will tighten and lead to a larger breakout.

[zeze18]

I agree with you that bitcoin will not fall from $7500 because when the correction in the bull run market bitcoin has never fallen from 50% and currently bitcoin has touched a correction of 44%.

I think in the next 1-2 weeks bitcoin will come back at $ 10k

Hope this will come true that bitcoin will recover in one week or two.
But we can't rely out analysis to history, no history recorded before bitcoin pumped to 20k in 2017 and also no history recorded bitcoin dump in 2018. So we have to be careful and always set a stop loss

[Tungsten-1]

I agree with you that bitcoin will not fall from $7500 because when the correction in the bull run market bitcoin has never fallen from 50% and currently bitcoin has touched a correction of 44%.

I think in the next 1-2 weeks bitcoin will come back at $ 10k

Bitcoin has stayed in dump for long time and it is evident from little increase in its value that soon bitcoin will be set on track to reach sky in context of prices and this is the sole reason why number of bitcoin buyers is increasing day by day. The soon we investors start buying bitcoin, the fast it will be seen on heights of new prices.

[scambust]

According to an anonymous user in 4Chan...


It says October 2019 should be the time when BTC/USD hits $16,000.

LOLZ, the prediction has eight days left to come true. Seriously though we have 204 days left before block rewards are cut in half again. If bitcoin has not yet bottomed out, it is still a good time to buy because by halving, you probably can't get cheaper bitcoin than now.

[Omega Weapon]

I agree with you that bitcoin will not fall from $7500 because when the correction in the bull run market bitcoin has never fallen from 50% and currently bitcoin has touched a correction of 44%.

I think in the next 1-2 weeks bitcoin will come back at $ 10k

Hope this will come true that bitcoin will recover in one week or two.
But we can't rely out analysis to history, no history recorded before bitcoin pumped to 20k in 2017 and also no history recorded bitcoin dump in 2018. So we have to be careful and always set a stop loss

It will not happen, bitcoin is having problems surpassing 8500 dollars for each coin and there will be a  great resistance to reach 10000, but why worry? If the price begins to go up then we all get gains and if the price remains at this level or it goes down then you can buy more bitcoin, regardless of what happens is a win-win situation, just remember that it takes a long time for the opportunities to appear and if you do not take it now you may need to wait for months or even a year to see another opportunity like the now we are seeing now.

[Murat]

When your surrounding is not working well then you also could bear a bad reputation, I think some Fake and Scam ICO projects are also responsible for bringing this situation, also you need to see the whole world's economic situation which is not running well, moreover, the last couple of months were not so much bad in the context of Bitcoin price, I think this situation is getting better and the price of Bitcoin is becoming a standard, I always say that the proper regulation and a set of policies will bring a good environment, When people get a safe platform for investment then the flow will accelerate itself, then Bitcoin will not stay at the bottom, Bitcoin platform will be always on the Top.

[Serco]

According to an anonymous user in 4Chan...


It says October 2019 should be the time when BTC/USD hits $16,000.

LOLZ, the prediction has eight days left to come true. Seriously though we have 204 days left before block rewards are cut in half again. If bitcoin has not yet bottomed out, it is still a good time to buy because by halving, you probably can't get cheaper bitcoin than now.

everyone always trying to said current price was be the bottom, meanwhile price still has possibility to down again.personally i will not tempted with this statement.everything can happen ,even bitcoin could goes down again in this october based on technical analisys.prediction just create fomo to beginer trader or investors.

[cryptothreads]

I agree with you that bitcoin will not fall from $7500 because when the correction in the bull run market bitcoin has never fallen from 50% and currently bitcoin has touched a correction of 44%.

I think in the next 1-2 weeks bitcoin will come back at $ 10k

Hope this will come true that bitcoin will recover in one week or two.
But we can't rely out analysis to history, no history recorded before bitcoin pumped to 20k in 2017 and also no history recorded bitcoin dump in 2018. So we have to be careful and always set a stop loss

It will not happen, bitcoin is having problems surpassing 8500 dollars for each coin and there will be a  great resistance to reach 10000, but why worry? If the price begins to go up then we all get gains and if the price remains at this level or it goes down then you can buy more bitcoin, regardless of what happens is a win-win situation, just remember that it takes a long time for the opportunities to appear and if you do not take it now you may need to wait for months or even a year to see another opportunity like the now we are seeing now.

Today, everything has happened against investors' minds and Bitcoin has been experiencing unexpected drops in recent hours. I don't think this coin will recover in the near term because currently everyone is sell panic and there is a possibility that Bitcoin could return to $7000 in the next few days. Now if you have money, you should buy at this price or wait for a cheaper price to invest because I'm really tired of what's happening.

Bitcoin and Altcoin are still falling so our predictions will never be accurate because this is a speculative market and they can completely manipulate.

[bitgolden]

According to an anonymous user in 4Chan...

[im g]https://i.imgur.com/uGRndqy.png[/img]
It says October 2019 should be the time when BTC/USD hits $16,000.

LOLZ, the prediction has eight days left to come true. Seriously though we have 204 days left before block rewards are cut in half again. If bitcoin has not yet bottomed out, it is still a good time to buy because by halving, you probably can't get cheaper bitcoin than now.

Miracles do happen at the dyeing minute, it took bitcoin just 2 days to grow to $5000 when we were all even thinking that it was April fool, the rise of bitcoin is so fast that you can never imagine it, so the remaining days to the month may still do something that will make the price of bitcoin to rise.

Imagine that the whole government of the world suddenly rises now to declare bitcoin as legal, what do you think will happen? You will start seeing massive demand for bitcoin at a time which will take just one day for the value to rise beyond what we can imagine. Well, $16000 is not my target, my target is what bitcoin will amount to after the blocking reward for next year which I am sure will make the value of bitcoin to skyrocket to $40000.

[Pearls Before Swine]

2nd Correction of 45% one of the highest ones so far

This reason is the only one I can really understand, since I'm not into technical analysis.  Regardless I do hope you're right.  The steeper the drop, the more scared bitcoin holders get and this can lead to more panic selling and further decreases in price.  It would have to stop somewhere, but with bitcoin being as dramatic and unpredictable as it is, that could be anywhere. 

I never did the math on what this correction actually was, percentage wise.  45% is incredible.  You really have to have a set of cast iron balls to hold on thru this ride, and I think many investors have already jumped ship by now.  That should be a good sign for a recovery in and of itself.

I don't think this coin will recover in the near term because currently everyone is sell panic and there is a possibility that Bitcoin could return to $7000 in the next few days.

Yeah I'm hoping it doesn't go to $7000, but I know it could.  Easily.  And you are probably correct that this is all due to a bunch of panic sellers rather than one or two whales unloading their coins.

[suzanne5223]

According to an anonymous user in 4Chan...

[im g]https://i.imgur.com/uGRndqy.png[/img]
It says October 2019 should be the time when BTC/USD hits $16,000.

LOLZ, the prediction has eight days left to come true. Seriously though we have 204 days left before block rewards are cut in half again. If bitcoin has not yet bottomed out, it is still a good time to buy because by halving, you probably can't get cheaper bitcoin than now.

Miracles do happen at the dyeing minute, it took bitcoin just 2 days to grow to $5000 when we were all even thinking that it was April fool, the rise of bitcoin is so fast that you can never imagine it, so the remaining days to the month may still do something that will make the price of bitcoin to rise.

Imagine that the whole government of the world suddenly rises now to declare bitcoin as legal, what do you think will happen? You will start seeing massive demand for bitcoin at a time which will take just one day for the value to rise beyond what we can imagine. Well, $16000 is not my target, my target is what bitcoin will amount to after the blocking reward for next year which I am sure will make the value of bitcoin to skyrocket to $40000.

Technically, the anonymous person which predicted the surge in price of Bitcoin now totally wrong because the crypto market usually experience some dump in price noe till December before the halving effect take place but if we have a situations where the governments declare Bitcoin legal then the miracle you said will happen.

[Wysi]

According to an anonymous user in 4Chan...

[im g]https://i.imgur.com/uGRndqy.png[/img]
It says October 2019 should be the time when BTC/USD hits $16,000.

LOLZ, the prediction has eight days left to come true. Seriously though we have 204 days left before block rewards are cut in half again. If bitcoin has not yet bottomed out, it is still a good time to buy because by halving, you probably can't get cheaper bitcoin than now.

Miracles do happen at the dyeing minute, it took bitcoin just 2 days to grow to $5000 when we were all even thinking that it was April fool, the rise of bitcoin is so fast that you can never imagine it, so the remaining days to the month may still do something that will make the price of bitcoin to rise.

Imagine that the whole government of the world suddenly rises now to declare bitcoin as legal, what do you think will happen? You will start seeing massive demand for bitcoin at a time which will take just one day for the value to rise beyond what we can imagine. Well, $16000 is not my target, my target is what bitcoin will amount to after the blocking reward for next year which I am sure will make the value of bitcoin to skyrocket to $40000.

Technically, the anonymous person which predicted the surge in price of Bitcoin now totally wrong because the crypto market usually experience some dump in price noe till December before the halving effect take place but if we have a situations where the governments declare Bitcoin legal then the miracle you said will happen.

Yes anything might happen and it might not take ages for things to change but we have to accept the fact that we are unfortunately still struck in the bullish market trend wherein everyday some or the other coin just loses it's value or bleeds and yesterday it was bitcoin's turn with a dip of $700 approx. The positive thing about bitcoin is that it will bounce back unlike other altcoins, It's better to stop predicting until the bitcoin halving as prediction often ends up in disappointment.

[BitHodler]

but if we have a situations where the governments declare Bitcoin legal then the miracle you said will happen.

Legal in what way? And how are you so sure that it will help get the price to increase? It doesn't work like that.... good news during a bear market has next to no effect. Bad news during a bull market has no effect either.

People need to stop hoping for miracles to happen and get better at understanding how this market actually works on a technical level, and from there focus on the charts, because there is a lot of valuable information to find there.