Buy now Bitcoin today

[pamsugas]

I make a point that today and tomorrow are the last days of cheap bitcoin. bitcoin is forming a falling wedge pattern which means that when the downtrend line is broken the btc will likely return to the price of 8500 - 9500.
What do you think?

some predictions that I have made https://www.tradingview.com/u/pamsugas/
you can follow me.
Thanks.

[exstasie]

I make a point that today and tomorrow are the last days of cheap bitcoin. bitcoin is forming a falling wedge pattern which means that when the downtrend line is broken the btc will likely return to the price of 8500 - 9500.
What do you think?

Looks more like a weak slow bleed than a falling wedge to me. The way price is sticking to the floor implies real weakness. We need to go down (new lows) before we can go up.

I do see a case for $9K+, something along the lines of this: https://bitcointalk.org/index.php?topic=5140701.msg52813750#msg52813750

I just think we need to go lower first. A test of $7K at least......

[Oasisman]

I make a point that today and tomorrow are the last days of cheap bitcoin. bitcoin is forming a falling wedge pattern which means that when the downtrend line is broken the btc will likely return to the price of 8500 - 9500.
What do you think?

some predictions that I have made https://www.tradingview.com/u/pamsugas/
you can follow me.
Thanks.

There were negative speculations about the formation of death cross. This might create another FUD and probably make another panic from the weakhands. Although this pattern may not mean anything, but the similarity of this situation from the past when Bitcoin drops down to $3,000, will somehow make an impact to the doubtful in investors.
I admire your bullish speculations, but I might hold onto my belief that we'll be hanging to this support level or worst, a drop below $7,000 at least until mid November.

[watergold]

I make a point that today and tomorrow are the last days of cheap bitcoin. bitcoin is forming a falling wedge pattern which means that when the downtrend line is broken the btc will likely return to the price of 8500 - 9500.
What do you think?

some predictions that I have made https://www.tradingview.com/u/pamsugas/
you can follow me.
Thanks.

There were negative speculations about the formation of death cross. This might create another FUD and probably make another panic from the weakhands. Although this pattern may not mean anything, but the similarity of this situation from the past when Bitcoin drops down to $3,000, will somehow make an impact to the doubtful in investors.
I admire your bullish speculations, but I might hold onto my belief that we'll be hanging to this support level or worst, a drop below $7,000 at least until mid November.

Meaning this is not the lowest point at the moment many say bitcoin will fall and continue to fall, and I am not sure it will go down to $ 3000. Bitcoin prices are still flutuactive it can not be confirmed, if the OP says today the lowest price of bitcoin I think it's reasonable because viewed from the graph indicates that bitcoin will rise.

[Janation]

The price chart tells everything.

I did not believe this in the past and I regret that.

I did reinvest but not that much since more than that, I will not be able to afford it. Despite me not really sure of what might happen, I guess I will just invest and wait. As a tip, we should be aware that we can afford the investments that we are doing or else, too much would be really bad especially if you will be doing that continuously.

[bitcoin31]

The price chart tells everything.

I did not believe this in the past and I regret that.

I did reinvest but not that much since more than that, I will not be able to afford it. Despite me not really sure of what might happen, I guess I will just invest and wait. As a tip, we should be aware that we can afford the investments that we are doing or else, too much would be really bad especially if you will be doing that continuously.

A trader really know what they do like investing they did not invest too much because yes you can get more as more as you invest to the bitcoin but the more you put money to invest the more losing of your money will get so they have time that need to invest only that you can afford to lose because of the risk of the bitcoin to dump the value even it's good investment.

[GreatArkansas]

Additional analysis, especially on the STOCHASTIC RSI on bitcoin.
This is weekly time frame and what I see is we are current oversold, last time we are oversold is when the price of Bitcoin dump below $4,000. As what I can see is maybe bears can't push this anymore even below $7,000 for sure.
I am also expecting more upside price action in next coming weeks, especially when are fast approaching on block halving.

[ChrisPop]

In my standard I wouldn't call that a falling wedge. The wedge is extended over a too long period of time, now that doesn't mean Bitcoin can't reverse here. As a matter of fact as long as it is consolidating in this zone, my bullish inclination raises. We're currently in an accumulation or redistribution phase. Hopefully we won't head down and hold the ground here. Otherwise what can I say.. more cheap Bitcoin for the hoarders. 

[BitHodler]

Buy today to regret it tomorrow? I consider the current chart formation to be indicative of a falling knife, which is something you shouldn't touch if your sole goal is to make a quick dollar or two, unless you're going short of course.

If we're talking about dollar cost averaging, it definitely doesn't hurt to buy the market down with small buys every week or every other week.... it's much better to do so at current levels than when we were above the $10k mark.

Everything just points at very strong presence of the bears and that's not going to end without a fight.

[Murat]

I think the price is still very high to get in right now. I think we will see another shake before we go up again. Bitcoin still not accepted in major countries as a payment method & regulators still hesitating to accept bitcoin. That's why serious investors not interested to invest right now. People investing just based on imagination. Bitcoin failed to hold this price last year and I think this year we will see the same result. There is very low possibilities that price will go up from here but most of the people think we're going down below $5000 again. Without proper regulation & controlling on the market from manipulation we won't see a stable high price. Price can hit $15000 this year as well but won't hold there more than a week. So we should no care about the price today we need a regulated market. I am waiting for a $4000 entry again.

[ChrisPop]

I think the price is still very high to get in right now. I think we will see another shake before we go up again. Bitcoin still not accepted in major countries as a payment method & regulators still hesitating to accept bitcoin. That's why serious investors not interested to invest right now. People investing just based on imagination. Bitcoin failed to hold this price last year and I think this year we will see the same result. There is very low possibilities that price will go up from here but most of the people think we're going down below $5000 again. Without proper regulation & controlling on the market from manipulation we won't see a stable high price. Price can hit $15000 this year as well but won't hold there more than a week. So we should no care about the price today we need a regulated market. I am waiting for a $4000 entry again.

I have to disagree with that. A regulated market won't rocket Bitcoin to the sky. It is all about supply and demand, accumulation & distribution
As you are probably used to, Bitcoin moves in waves, in very volatile waves to be exact, but after every halvening it got multiple fold more valuable. We have reached the 18 million bitcoins mined mark and according to Chain Analysis research ~4 million BTC is lost or likely lost. Statistics show that there are 36M millionaires in the world. Divide that by 21M total bitcoin supply and get the price if each one of those millionaires only wanted 1 BTC.

[DiamondCardz]

It's all well and good using previous behaviour of the price graph to predict future behaviour until the "pattern" gets broken. People come up with all kinds of patterns based on the fact that it happened once or twice before. I'm not a believer in trying to identify shapes in graphs like falling wedges and the like.

To people who have no idea what's going on and are reading this: if you really want to invest then use DCA (Dollar Cost Averaging). It does a better job of shielding you from drops, there is no telling if the price will go up or down any time soon.

[beerlover]

I think it looks like exsasie is right, the price needs to go down only a juuuuuust a bit, like if we test to $7300 first then we have like $7000 for 1 hour or so and jump right back to $7300 then the price would say "hmmm they don't allow us to go under $7300, we tried $7000 and it went back up" and then traders will say "if the accumulation is over and price is not going down then maybe we should go up again before we drop".

So, the price may drop to $7600-$7300 levels and then jump super high, that would end up with price going over $9k+ for the first time since the last months drop and then probably stay above $9k+ for a while until traders are done selling all their coins without disturbing the market, after they are done then price may end up dropping once again for another accumulation phase.

[teosanru]

I make a point that today and tomorrow are the last days of cheap bitcoin. bitcoin is forming a falling wedge pattern which means that when the downtrend line is broken the btc will likely return to the price of 8500 - 9500.
What do you think?

some predictions that I have made https://www.tradingview.com/u/pamsugas/
you can follow me.
Thanks.

As far as I think it isn't clearly a falling wedge more of a downward parallel channel. Even though buying it as of now is hell too risky because as per your own prediction it is bound to touch the bottom of the channel for once which is around 7600-7700 point and one can ladder up there buys when BTC is coming up from that fall down. So you can basically end up buying all your position at much lower price from what it is now and even if the breakout fails you can sell it for profit or atleast breakeven while buying it now would be a 50-50 chance.

[leowonderful]

Cut to save space
Additional analysis, especially on the STOCHASTIC RSI on bitcoin.
This is weekly time frame and what I see is we are current oversold, last time we are oversold is when the price of Bitcoin dump below $4,000. As what I can see is maybe bears can't push this anymore even below $7,000 for sure.
I am also expecting more upside price action in next coming weeks, especially when are fast approaching on block halving.

If you look back in time on the 1W Stoch RSI, there's still times where the indicator fell to near zero and had only minor bumps upwards from zero and went back down, and a view of the 1D Stoch RSI shows there's still room for it to fall, but I'd agree that there's likely going to be more upside in the longer-term while we could see additional moves down in the mid-term as the bearish trend we're currently in still remains strong. I'm additionally expecting the actual halving to be relatively uneventful but a rise a bit after the event has passed somewhat.

[exstasie]

Additional analysis, especially on the STOCHASTIC RSI on bitcoin.
This is weekly time frame and what I see is we are current oversold, last time we are oversold is when the price of Bitcoin dump below $4,000. As what I can see is maybe bears can't push this anymore even below $7,000 for sure.

Long term stochastics (and also momentum indicators like RSI) can stay oversold for months in a strong downtrend. I would never depend on them to signal a bottom. Look at these examples from the 2014 bear market:

[Oceat]

I make a point that today and tomorrow are the last days of cheap bitcoin. bitcoin is forming a falling wedge pattern which means that when the downtrend line is broken the btc will likely return to the price of 8500 - 9500.
What do you think?

some predictions that I have made https://www.tradingview.com/u/pamsugas/
you can follow me.
Thanks.

There were negative speculations about the formation of death cross. This might create another FUD and probably make another panic from the weakhands. Although this pattern may not mean anything, but the similarity of this situation from the past when Bitcoin drops down to $3,000, will somehow make an impact to the doubtful in investors.
I admire your bullish speculations, but I might hold onto my belief that we'll be hanging to this support level or worst, a drop below $7,000 at least until mid November.

Meaning this is not the lowest point at the moment many say bitcoin will fall and continue to fall, and I am not sure it will go down to $ 3000. Bitcoin prices are still flutuactive it can not be confirmed, if the OP says today the lowest price of bitcoin I think it's reasonable because viewed from the graph indicates that bitcoin will rise.

Just look at the support and you will know who's lying while expecting a $3000 if Bitcoin drops. It is just too much to think that Bitcoin would reach that price again. Those weak-hands doesn't know anything in the market but I believe that Bitcoin would be testing the $7k before going up to try to break the $9k resistance.

[jmigdlc99]

Just look at the support and you will know who's lying while expecting a $3000 if Bitcoin drops. It is just too much to think that Bitcoin would reach that price again. Those weak-hands doesn't know anything in the market but I believe that Bitcoin would be testing the $7k before going up to try to break the $9k resistance.

Yeah, $3000 is not going to happen anytime soon. Setting aside technical analysis, i feel that people have already learned that bitcoin is too legit to go back to those kinds of lows. I believe that a retrace to ~$7k levels is really healthy, especially for the upcoming halvening. It will be just in time for the next huge pump which could bring us back to $9k levels or even to possible new all time highs.

[pixie85]

And it looks like we have launched. The RSI was again showing a buy opportunity and people took it. I hope it's not going to be short-lived. We could use a few green dys right now.
If you ask me if you should buy today I will always answer yes. Smart people are dollar cost averaging just to hold as much as possible when we enter real parabolic rally like you've never seen before.

[exstasie]

Buy today to regret it tomorrow? I consider the current chart formation to be indicative of a falling knife, which is something you shouldn't touch if your sole goal is to make a quick dollar or two, unless you're going short of course.

A falling knife usually refers to a crash. We've been sideways for 3 weeks. Classical technical analysis says it's a bear flag but BTC breaks upward from bearish patterns fairly often. We might be looking at the old scam curve. Best to be prepared for a breakout in either direction.

Even if we're in a full on bear market now, a retest of the $9,000s up to $10K is pretty much inevitable.