Devastating signal: bear market, 6.4k support, 12.4 resistance

[tabas]

You have an interesting analysis. I seem to believe that we're still on the bull market but looks I'm wrong with that.

But the trend is still clear towards the 7k area.

$6.4k - $7k as the support still looks great. What's your analysis at the end of this year?

[gabbie2010]

You have an interesting analysis. I seem to believe that we're still on the bull market but looks I'm wrong with that.

But the trend is still clear towards the 7k area.

$6.4k - $7k as the support still looks great. What's your analysis at the end of this year?

I hope the price is rejected at that $6.4K to $7K support that is the last hope for the price else we may see more bearish movement to $5K although based on daily chart the price is already showing bearish exhaustion thus a likely upward movement is imminent I hope the price reach $10K before the end of this year.

[cryptoangel]

You have an interesting analysis. I seem to believe that we're still on the bull market but looks I'm wrong with that.

But the trend is still clear towards the 7k area.

$6.4k - $7k as the support still looks great. What's your analysis at the end of this year?

I hope the price is rejected at that $6.4K to $7K support that is the last hope for the price else we may see more bearish movement to $5K although based on daily chart the price is already showing bearish exhaustion thus a likely upward movement is imminent I hope the price reach $10K before the end of this year.

This year everyone expecting the good hype on Bitcoin, But current dump loose the hope for many peoples so today drop is really change the people expectation. I hope Bitcoin will cross more than 10k USD on this year, at the same time we can buy more in this dump because market fluctuations is slowly recovering so we can invest current dump we make good profit on end of this year.

[dunfida]

You have an interesting analysis. I seem to believe that we're still on the bull market but looks I'm wrong with that.

But the trend is still clear towards the 7k area.

$6.4k - $7k as the support still looks great. What's your analysis at the end of this year?

I hope the price is rejected at that $6.4K to $7K support that is the last hope for the price else we may see more bearish movement to $5K although based on daily chart the price is already showing bearish exhaustion thus a likely upward movement is imminent I hope the price reach $10K before the end of this year.

So ping/pong in that specific price range ?

Just as usual but i cant figure which one would be the support neither staying up on 8k or would able to go down further in $7500.
These fluctuations arent really that surprising and i dont know why people do still be being shook with these movements.
Still hesitant on accumulating now.

[wheelz1200]

After a death cross we officially entered another bear market.
There is still hope, if it is a fakeout (happened once) but most likely we are in bear market, and the price to monitor is 6.4k. If we hold that price we are good, if we go below 6.4k it will be a disaster, with probably a price going below 3k in 2020 or 2021.

However, if one day we go above 12.4k it will be an incredible signal to buy, overtaking 12.4k would mean reaching 20k again (and above).

Let's see how it plays out.

If you look at past cycle in 2015. There was golden cross, death cross and golden cross and then bull market really started. And when you talk about golden and death cross you need to explain what day average crossed. People use different daily averages. So it might be death cross for you but not for them.

Many different factors go in a bull and a bear other than looking at 2015 and how that played out.  We wont have the exact same market conditions every 4 years.  Can we use it as a guide..meh possibly.  2015 felt so different than today and it's a whole different group of people coming in and out of the market than in 2015.

[Slow death]

I hope the price reach $10K before the end of this year.

The price is falling every hour and day, without good news capable of creating a great demand, the price will not reach $10,000. I told someone that the price had risen from $7400 to $9000 because of the president of china's comment about blockchain, now that people are seeing the reality that china has not changed its position relative to bitcoin they are selling their bitcoin . More likely to end this year at $7400

Do you know why I like the first paragraph of OP? It is because I am expecting bullish trend anytime soon because the moment that we have lots of bearish prediction in the market that is when bitcoin make the opposite direction move.

did you think it was only natural to rise from $ 7400 to $ 9000 in such a short time? it was in the face that it was the old pump and dump phenomenon

[daarul50]

people need to understand that the latest spike from $7000 to $10000 was mostly is not organic move.

THIS. People overestimate how BTC ran from 7k to 10k in a matter of a few hours, and only that. They didn't see how the market was unsatisfied with its sudden run, so they made it go back down, no matter how slowly it was. If the run back then didn't occur, I'd expect a similar price as of now which is around 8.5k tbh.

Yep. Bearish or +- stable until end of 2020. If big run happens won't be before end of 2020.

Bearish, please. I wanna enter more investment into the scene so I might as well wait for that possibility.

here we go again looking to get back to $7000 now hehe

it has been a week since the first signal that this gonna be a bear run, down for 5% and a little bit correction of 1% up and so on it seems pretty clear we are going nowhere but sit back at the $7000 or $6000 for long until the halving occured.
i am a little bit doubt to holding at $8000 in this situation , the pressure day bay day getting higher.
once again i wish i was wrong , targetting a bounceback to $10000 or crazy $20000 is a mission impossible , it could indedd happened but let's re-check the facts around , all of them did not support it unfortunately.

there is no harm to saving some cash for further drop possibility.

[piebeyb]

After a death cross we officially entered another bear market.
There is still hope, if it is a fakeout (happened once) but most likely we are in bear market, and the price to monitor is 6.4k. If we hold that price we are good, if we go below 6.4k it will be a disaster, with probably a price going below 3k in 2020 or 2021.

However, if one day we go above 12.4k it will be an incredible signal to buy, overtaking 12.4k would mean reaching 20k again (and above).

Let's see how it plays out.

I say bitcoin always has a surprise at the end or at the beginning of the year, if this is a bear market they should have fallen below $ 6500 yesterday but unfortunately that is not the case, because the bears are dead now there are only big players taking the game taking cheap is an opportunity taken at the moment, I'm not sure it will return below $ 6500, prices will continue to stabilize or go up above $ 10k whether it's late this year or early next 2020

[FanEagle]

I guess that is not really "devastating" signal, it says there is a good support near and a great resistance at a way above the current price. It would be bigger move going to $6.4k or going to $12.4k? I would say going to $12.4k would be a way bigger move. Hell we just recently touched $7k and went back to above $9k so the support is way above what it looks like here on the charts because there is a "psychological" support as well which is basically keeping the price above the current levels. We could always drop further and further but that doesn't mean that it will happen right away.

I would say "a bit down first but higher later" has always been said and whenever that is said I have seen it go higher directly without going down, so I say it will go up soon without going down.

[1Referee]

did you think it was only natural to rise from $ 7400 to $ 9000 in such a short time? it was in the face that it was the old pump and dump phenomenon

It was mostly a huge short squeeze. It pretty much means that shorters are forced to buy at any price to cover their positions, which causes these overly exaggerated moves. In that regard, it's not surprising to see the price fall back because it wasn't a pump based on actual long term demand, but just based on very short term demand.

The coming days will be very important for the mid to longer term price action, because if we don't hold $8000 I'm afraid that the price will fall a few grand lower, possibly even lower $5000's. However, people are currently so bearish that I do expect a nice bounce up pretty soon (most likely before friday). If we can close some daily candles above the 200MA (~$9400) that will make me a bit more bullish.

[Yaunfitda]

$8k now, all signals are now pointing to a bearish trend in the coming months.

At least the OP has open our eyes that $6k-$7k is now in the radar and I do hope that with this warning, traders specially newbies will learn and adjust their strategy. To be fair, there are a lot of TA's floating around months ago that we are in the entering a bearish trend, but that artificial pump (because of China news) put that on hold, but now we are back and this is the reality, no more artificial pump.

[Wexlike]

$8k now, all signals are now pointing to a bearish trend in the coming months.

At least the OP has open our eyes that $6k-$7k is now in the radar and I do hope that with this warning, traders specially newbies will learn and adjust their strategy. To be fair, there are a lot of TA's floating around months ago that we are in the entering a bearish trend, but that artificial pump (because of China news) put that on hold, but now we are back and this is the reality, no more artificial pump.

Really, what kind of signals are pointing for a bear ?

[EdenHazard]

I guess that is not really "devastating" signal, it says there is a good support near and a great resistance at a way above the current price. It would be bigger move going to $6.4k or going to $12.4k? I would say going to $12.4k would be a way bigger move. Hell we just recently touched $7k and went back to above $9k so the support is way above what it looks like here on the charts because there is a "psychological" support as well which is basically keeping the price above the current levels. We could always drop further and further but that doesn't mean that it will happen right away.

I would say "a bit down first but higher later" has always been said and whenever that is said I have seen it go higher directly without going down, so I say it will go up soon without going down.

The fact that everyone expecting a warming up .. counting down the halving day ahead , the price should move up step by step gradually but here we are stuck at $8,000 even could get lower due the trends shows we are in bad vibes to go down further.
This situation could attract some big players to drive the price down instead moving up , you know they love making money through our misery.

$7,000 is my current updated support point and $11,000 is the resistance, let's hold it on $7,500 for a while .

[Lucius]

The fact that everyone expecting a warming up .. counting down the halving day ahead , the price should move up step by step gradually but here we are stuck at $8,000 even could get lower due the trends shows we are in bad vibes to go down further.

Whoever expects "warming up" these days is lives in total delusion, how time before halving should be considered as a time for something big? Are you aware that the accumulation is still ongoing, and that the big players' intention is that the price goes down, not up? What you and many others expect now, can only be expected next year at this time, or maybe in 2022.

What you see as misery, to someone is just good business opportunity, and not only for big players.

[Mahanton]

The fact that everyone expecting a warming up .. counting down the halving day ahead , the price should move up step by step gradually but here we are stuck at $8,000 even could get lower due the trends shows we are in bad vibes to go down further.

Whoever expects "warming up" these days is lives in total delusion, how time before halving should be considered as a time for something big? Are you aware that the accumulation is still ongoing, and that the big players' intention is that the price goes down, not up? What you and many others expect now, can only be expected next year at this time, or maybe in 2022.

What you see as misery, to someone is just good business opportunity, and not only for big players.

Things that should be realized on and people should switch up on the way they do think.Its just normal for those people who do try to suppress the price first and then accumulate as they can with cheap coins or does simply say that they do buy when others are still in doubt.Majority would just tend to buy up with confidence when the price is
booming up or shall we say a little bit late and these are the things which they do like for those people who bought on the earlier time.They do really took advantage of it.

[EdenHazard]

The fact that everyone expecting a warming up .. counting down the halving day ahead , the price should move up step by step gradually but here we are stuck at $8,000 even could get lower due the trends shows we are in bad vibes to go down further.

Whoever expects "warming up" these days is lives in total delusion, how time before halving should be considered as a time for something big? Are you aware that the accumulation is still ongoing, and that the big players' intention is that the price goes down, not up? What you and many others expect now, can only be expected next year at this time, or maybe in 2022.

What you see as misery, to someone is just good business opportunity, and not only for big players.

This is more to a game of psychology now ...

Thinking just like the majority (hoping for the bull run kicked off) would drag you to a frustrating situation all the time during this 'waiting for the halving day' , let's try to think and analyze things in different way , to think and analyze against public opinions .... against the media.
I did it since few years ago (not everytime) but several occasions , this method works well especially in an uncertain situation like this.
I would mad if by the end of this month my support break below $7,000 , jeez.

[Lucius]

I would mad if by the end of this month my support break below $7,000 , jeez.

Only those who have no idea how Bitcoin has behaved in the past can think the way you and the vast majority think. Halving will happen in May 2020, and it is very likely that it will have almost no effect on the price increase, as was the case in the past. Most small investors invest in the short term and are not ready to wait even half a year to profit. They are in a panic sale now, even at a loss - but a lot of small ones have to lose, in order for a small number of big players to get rich. This is the only game that is played incessantly.

Before the end of the month? Your support may be broken even today...

[Bossian]

I would mad if by the end of this month my support break below $7,000 , jeez.

Only those who have no idea how Bitcoin has behaved in the past can think the way you and the vast majority think. Halving will happen in May 2020, and it is very likely that it will have almost no effect on the price increase, as was the case in the past. Most small investors invest in the short term and are not ready to wait even half a year to profit. They are in a panic sale now, even at a loss - but a lot of small ones have to lose, in order for a small number of big players to get rich. This is the only game that is played incessantly.

Before the end of the month? Your support may be broken even today...

The real support is not at 7k but around 6.4k (see post #1 in this thread). I think it probably holds this support of 6.4k.

[Bossian]

With a sudden move down to 8.1k area, would not be surprised to see a fake recovery towards 8.5k-ish.

But the trend is still clear towards the 7k area.

I would advise to still sell at 8.2k and buy back below 7.5k.

Just 3 days ago... hope you followed my recommendation  not it's not over yet, I just placed an order at 6900 USD waiting for my order to be executed, and most importantly we will need a bounce back but I think we bounce back to 9k (not this year though).

[EdenHazard]

I would mad if by the end of this month my support break below $7,000 , jeez.

Only those who have no idea how Bitcoin has behaved in the past can think the way you and the vast majority think. Halving will happen in May 2020, and it is very likely that it will have almost no effect on the price increase, as was the case in the past. Most small investors invest in the short term and are not ready to wait even half a year to profit. They are in a panic sale now, even at a loss - but a lot of small ones have to lose, in order for a small number of big players to get rich. This is the only game that is played incessantly.

Before the end of the month? Your support may be broken even today...

Wake me up if my support at $7,000 has been broken .

Luckily it stays above $7,000 in the last two days i guess ... still believe this is the very thin support line that will last for at least a couple weeks from now , I expect this.
Or else if the scenario of bear run continue and even more aggressive to go down I'll be glad to load my bag with more bitcoin!
It's always been a win win situation for me all this time. No Matter where it moves ... I win! I lose nothing!