Bitcoin Bottom Has Passed, Delphi Digital Says

[kapalmabur]

Bitcoin bottom doesn't pass, bitcoin bottom can always happen to depend on a market. No one can say the exact thing will happen even the bitcoin bottom. Bitcoin market depends on us especially big investors, they can affect the market by buying and selling a huge amount of bitcoin.

The chances that BTC will drop too low again is a little chance as many tries to hold their btc as much as possible till it increase again, but since we all have different attract in every market condition we cannot guaranteed what the decesion others will create. But as of now till halving happens next year it will not fall too much below Sep or Oct price.

we see the price of Bitcoin today touched $ 8100, the last support point this time was $ 7100, I really hope that it will not touch that price !,
If Yes we will look deeper, many bad bitcoin sentiments come, from Google, China etc., making prices have not stabilized, be careful

and now it looks like Bitcoin has reached the bottom again, right now the price is down to $ 6690 ,
if I analyze it should be able to go up to $ 8593 in the next few days, but true, still be careful in trading

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[bitbunnny]

Just don't rely on such predictions or make decisions based on them. No one can't really know where is the bottom and how deep the correction will go this time. Recently some said that 7000$ was the bottom but the price is even lower now and there is possibility that it will fall under 6000$, who knows. Just wait for couple of days and be patient.

[Hippocrypto]

Bitcoin bottom doesn't pass, bitcoin bottom can always happen to depend on a market. No one can say the exact thing will happen even the bitcoin bottom. Bitcoin market depends on us especially big investors, they can affect the market by buying and selling a huge amount of bitcoin.

The chances that BTC will drop too low again is a little chance as many tries to hold their btc as much as possible till it increase again, but since we all have different attract in every market condition we cannot guaranteed what the decesion others will create. But as of now till halving happens next year it will not fall too much below Sep or Oct price.

we see the price of Bitcoin today touched $ 8100, the last support point this time was $ 7100, I really hope that it will not touch that price !,
If Yes we will look deeper, many bad bitcoin sentiments come, from Google, China etc., making prices have not stabilized, be careful

and now it looks like Bitcoin has reached the bottom again, right now the price is down to $ 6690 ,
if I analyze it should be able to go up to $ 8593 in the next few days, but true, still be careful in trading

We're going to witness how the price going to recover on this level of values, and more will be given an opportunity to own bitcoin at lower price. It's kinda boring to watch the repeated trend but it's the norm of the market, which everyone didn't expect to happen. I am hoping to see another huge spikes that could trigger massive adoption this coming December.

[wxa7115]

Just don't rely on such predictions or make decisions based on them. No one can't really know where is the bottom and how deep the correction will go this time. Recently some said that 7000$ was the bottom but the price is even lower now and there is possibility that it will fall under 6000$, who knows. Just wait for couple of days and be patient.

It seems that at least for now the danger that the price will go even lower than that has passed, but we cannot relax because the current growth is still too weak to try to give an absolute answer to the question of whether or not we have reached the bottom, since it is likely that the bears have taken a little rest before they try to make the price to go down again and if that is true if that trend begins now to the price is much lower I think we could hit 6000 again.

And if that happens there is the possibility that many of the investors that are still holding their coins are going to panic and this will make the price even lower than what many of us could anticipate.

[ololajulo]

I dont understand how it is easy for anyone to state the bottom of this market. It could be distracting or confusing for some member, seeing the parabolic price movement. The greed level has not touch the bottom of the swing.

[pixie85]

I dont understand how it is easy for anyone to state the bottom of this market. It could be distracting or confusing for some member, seeing the parabolic price movement. The greed level has not touch the bottom of the swing.

It's very easy and the rule is to look at % correction. Whenever Bitcoin loses 50% or more in a correction it's always a very good time to buy. Thi is not a golden rule because one time it can be falling because of some hack or weakness in the system but this is why you have to read the news and watch the charts at the same time.

Even now we had a 50% correction from 13800 to 6500 and it again was a good opportunity to make some money. 

[STT]

Its not easy, its only ever probability and it comes in stages of confirmation.   Right now I think we are quite positive going into this weekend and I'll keep that opinion so long as we close above 7400 for this weekly bar.
  I base that confidence on the way we are moving between negative trends, its possible for it to reverse but if we do confirm above that previous negative trend then we have reflect that positive sentiment by expecting further gains to occur overall.



So blue line is 2 day average, its held that and it is purely a short term measure of a positive move.   Its reasonable to take a trade when we hold that, 7900 is next target and I guess just holding this area is quite positive.  Anything from 7600 to 7400 seems where to watch for price acting positively.

[pixie85]

This was proven to be a very weak area of support. We are now below 7400 that you were describing as bullish area.
Most people will now prefer to wait it out because going back to 7k is very much a possibility now after failing to reach 8k and then again failing to hold 7400.

By the looks of it people are trying to keep price low before the halving. I don't expect any big moves up before the new year.