Warning! Here's Why BTC is Set To Fall To 3000 or Lower!

[kanaan2019]

 I think BTC is about to shock the world, with an epic meltdown into halving that nobody expects. I'm sure many of you know that I don't really use Elliott Wave too often, usually because I think it is too prone to misinterpretation. As an analyst, I like to keep things clear and simple on my charts, so that I can decipher what is going on in an easy to understand way. That's what works for me. However, I'm giving Elliott Wave Theory some credence here, in the long term Bitcoin chart.

Now, I've said on numerous occasions that BTC's log regression arc (blue arc) is the most beautiful and technically respected formation that I have ever seen in my eleven years as an analyst. I've also said on multiple occasions, that I didn't trust the recent bull run, because price never fell to my personal regression arc. Many other analysts have drawn it differently, in a way that shows price touching it in December of 2018, but they erroneously allow price to dip below it in years prior, simply to fulfill their fantasies of their emotional narratives. Not MagicPoopCannon. I always bring it to you raw and uncut, even if it causes uproar and rejection.

Looking at this weekly log chart of Bitcoin , you can CLEARLY see that BTC has printed five impulse waves up. The first wave began at it's creation, and the fifth wave ended at the high of 2017. Since then, BTC has clearly been in an ABC correction phase. I mentioned this as a possibility in the past, and here we can see that it really seems to be playing out.

Here's where things get messy though. For the ABC wave to complete itself BTC will more than likely break down below the blue regression arc, and that is a big problem technically, in my opinion. Now, the end of the C wave can be as low as the A wave (flat) or deeper than the A wave ( zig-zag .) With that said, if price were to fall quickly to the regression arc, somewhere around 3000, we could see a flat play out, with price completing the C wave without breaking the regression arc.

You may be wondering why the regression arc is so important. In my view, it's the primary technical formation projecting that BTC will rise to the hundreds-of-thousands range. If it is broken and not recovered, BTC may never reach those lofty targets of common belief. That's why I'm concerned about the future of BTC . Conversely, a new 12345 wave impulse could begin after the C wave completes, but who knows if that will happen? Nothing is guaranteed. Bitcoin is heavily centralized to China, and they're apparently on a warpath to end all crypto trading. They could easily cause major disruptions in the space, since over 60% of the BTC network is centralized inside of their borders. In other words, I would much rather be a buyer at the end of the C wave, than a holder into oblivion. I have profits to protect, and I intend on doing that, even if it means risking some upside gains. At this point, the market has to prove to me that it can and will recover. One thing that is a fact of trading, is that the trend is your friend. Since the high at 13800, the trend has been down, and I have been incrementally liquidating my positions.

Now, we can see on the chart the the 50 week MA (in orange) is right below the current price action. I showed in the last analysis how I thought BTC would fall to it in the near future, and that happened exactly as I had anticipated. Now that we're here, I think it is more likely that BTC will break down below the 50 week MA, to test the more important support/resistance zone around 6000. If that is lost, BTC could fall to the 5600 range, where it will meet the 200 week MA (in purple.) If you recall, that is where BTC held in December 2018 at about 3200. Unfortunately, if any credence should be given to Elliott and his Theory of Waves, price should also break down below that. Historically, price has never really broken down below the 200 week MA. It has been tested and maybe breached a few times, but never with great magnitude. I think we're about to see a breakdown below that, at least for a retest of the 3000 area at the bottom of the blue regression arc. Honestly, I think the most likely outcome here, is that BTC will fall much deeper than that, potentially to 2000 or lower.

I don't want to give too much weight to Elliott Wave here though. But just look at the volume since 2015. It has been on a consistent fall, dwindling and dwindling while everyone ignores it. Interestingly, the end of the C wave corresponds well with the ending stages of the falling volume resistance (black trendline .) So, there is a good chance that we could see an explosion of surging volume there. So, I would prefer to be a buyer in that region. Basically anything below 3000 I will be interested in buying at this point, and I think that's true for a lot of people, which is why we could see an explosion in volume if prices fall down there.

Furthermore, look at the weekly RSI . You can see that the red horizontal trendline (around 56) is a clear indicator of bull and bear markets. When BTC gets above it and holds above it, we are in a bull market. When BTC breaks down below it, and confirms it as resistance, we are in a bear market. Last month, BTC confirmed that level as resistance, proving that we are in a bear market right now. So, I won't be hodling anything here, until BTC shows a real improvement. If BTC rises 1,000 or more tomorrow, I don't care. I'm looking at the big picture, and I think the highest probability is that BTC will melt into the halving, in a way that nobody is anticipating. In fact, the only reason BTC may have this beautiful chart, is because it has been in the process of forming a perfect 5 wave impulse for the last eight plus years. Now that the impulse is complete, I can't help but wonder if BTC really has any value. People will call that FUD and blah blah blah, but I'm an analyst and an educated investor — not a blind ideologist. I do think BTC has value, I just don't know what that value is, especially since adoption is lackluster, the lightning network is unimpressive, and BTC has shown that it isn't much other than a "digital store of value." Considering BTC's volatility , and the fact that it's at the end of a five wave impulse, BTC could be a DESTROYER of value going forward. We simply don't know, and there is no real way to calculate the value of it. I've looked at mining costs, profitability, difficulty adjustments, halvings, transaction values, the hash rate, you name it. The true value of BTC is something that everyone speculates on.

I'll leave you with this; just because BTC has risen for the majority of it's lifetime, doesn't mean that it will be profitable from here. For all we know, BTC may never see 10,000 again, and there are many technical and fundamental reasons to believe that. Choose your moves wisely. The future we've all envisioned is not guaranteed.

I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

join our telegram : https://t.me/priceprediction

[AB de Royse777]

Get ready to buy then !
You won't get this 2nd chance anymore in fact I suggest to start now. Sell your organs and start buying.

[davis196]

Get ready to buy then !
You won't get this 2nd chance anymore in fact I suggest to start now. Sell your organs and start buying.

That's wrong.Bitcoin price will continue to go back and forth between pumps and crashes for the rest of our lives.It can go back to 3K USD more than several times.

[mindrust]

I think BTC is about to shock the world, with an epic meltdown into halving that nobody expects. I'm sure many of you know that I don't really use Elliott Wave too often, usually because I think it is too prone to misinterpretation. As an analyst, I like to keep things clear and simple on my charts, so that I can decipher what is going on in an easy to understand way. That's what works for me. However, I'm giving Elliott Wave Theory some credence here, in the long term Bitcoin chart.

Now, I've said on numerous occasions that BTC's log regression arc (blue arc) is the most beautiful and technically respected formation that I have ever seen in my eleven years as an analyst. I've also said on multiple occasions, that I didn't trust the recent bull run, because price never fell to my personal regression arc. Many other analysts have drawn it differently, in a way that shows price touching it in December of 2018, but they erroneously allow price to dip below it in years prior, simply to fulfill their fantasies of their emotional narratives. Not MagicPoopCannon. I always bring it to you raw and uncut, even if it causes uproar and rejection.

Looking at this weekly log chart of Bitcoin , you can CLEARLY see that BTC has printed five impulse waves up. The first wave began at it's creation, and the fifth wave ended at the high of 2017. Since then, BTC has clearly been in an ABC correction phase. I mentioned this as a possibility in the past, and here we can see that it really seems to be playing out.

Here's where things get messy though. For the ABC wave to complete itself BTC will more than likely break down below the blue regression arc, and that is a big problem technically, in my opinion. Now, the end of the C wave can be as low as the A wave (flat) or deeper than the A wave ( zig-zag .) With that said, if price were to fall quickly to the regression arc, somewhere around 3000, we could see a flat play out, with price completing the C wave without breaking the regression arc.

You may be wondering why the regression arc is so important. In my view, it's the primary technical formation projecting that BTC will rise to the hundreds-of-thousands range. If it is broken and not recovered, BTC may never reach those lofty targets of common belief. That's why I'm concerned about the future of BTC . Conversely, a new 12345 wave impulse could begin after the C wave completes, but who knows if that will happen? Nothing is guaranteed. Bitcoin is heavily centralized to China, and they're apparently on a warpath to end all crypto trading. They could easily cause major disruptions in the space, since over 60% of the BTC network is centralized inside of their borders. In other words, I would much rather be a buyer at the end of the C wave, than a holder into oblivion. I have profits to protect, and I intend on doing that, even if it means risking some upside gains. At this point, the market has to prove to me that it can and will recover. One thing that is a fact of trading, is that the trend is your friend. Since the high at 13800, the trend has been down, and I have been incrementally liquidating my positions.

Now, we can see on the chart the the 50 week MA (in orange) is right below the current price action. I showed in the last analysis how I thought BTC would fall to it in the near future, and that happened exactly as I had anticipated. Now that we're here, I think it is more likely that BTC will break down below the 50 week MA, to test the more important support/resistance zone around 6000. If that is lost, BTC could fall to the 5600 range, where it will meet the 200 week MA (in purple.) If you recall, that is where BTC held in December 2018 at about 3200. Unfortunately, if any credence should be given to Elliott and his Theory of Waves, price should also break down below that. Historically, price has never really broken down below the 200 week MA. It has been tested and maybe breached a few times, but never with great magnitude. I think we're about to see a breakdown below that, at least for a retest of the 3000 area at the bottom of the blue regression arc. Honestly, I think the most likely outcome here, is that BTC will fall much deeper than that, potentially to 2000 or lower.

I don't want to give too much weight to Elliott Wave here though. But just look at the volume since 2015. It has been on a consistent fall, dwindling and dwindling while everyone ignores it. Interestingly, the end of the C wave corresponds well with the ending stages of the falling volume resistance (black trendline .) So, there is a good chance that we could see an explosion of surging volume there. So, I would prefer to be a buyer in that region. Basically anything below 3000 I will be interested in buying at this point, and I think that's true for a lot of people, which is why we could see an explosion in volume if prices fall down there.

Furthermore, look at the weekly RSI . You can see that the red horizontal trendline (around 56) is a clear indicator of bull and bear markets. When BTC gets above it and holds above it, we are in a bull market. When BTC breaks down below it, and confirms it as resistance, we are in a bear market. Last month, BTC confirmed that level as resistance, proving that we are in a bear market right now. So, I won't be hodling anything here, until BTC shows a real improvement. If BTC rises 1,000 or more tomorrow, I don't care. I'm looking at the big picture, and I think the highest probability is that BTC will melt into the halving, in a way that nobody is anticipating. In fact, the only reason BTC may have this beautiful chart, is because it has been in the process of forming a perfect 5 wave impulse for the last eight plus years. Now that the impulse is complete, I can't help but wonder if BTC really has any value. People will call that FUD and blah blah blah, but I'm an analyst and an educated investor — not a blind ideologist. I do think BTC has value, I just don't know what that value is, especially since adoption is lackluster, the lightning network is unimpressive, and BTC has shown that it isn't much other than a "digital store of value." Considering BTC's volatility , and the fact that it's at the end of a five wave impulse, BTC could be a DESTROYER of value going forward. We simply don't know, and there is no real way to calculate the value of it. I've looked at mining costs, profitability, difficulty adjustments, halvings, transaction values, the hash rate, you name it. The true value of BTC is something that everyone speculates on.

I'll leave you with this; just because BTC has risen for the majority of it's lifetime, doesn't mean that it will be profitable from here. For all we know, BTC may never see 10,000 again, and there are many technical and fundamental reasons to believe that. Choose your moves wisely. The future we've all envisioned is not guaranteed.

I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

join our telegram : https://t.me/priceprediction

Plagiarized post.

Quoted and archived.

You can find the original post here:
https://www.tradingview.com/chart/BLX/NOYj8C7H-Warning-Here-s-Why-BTC-is-Set-To-Fall-To-3000-or-Lower/

No need to mention it but, stay the fuck away from that telegram channel.

[BitcoinsGreat]

No one can be sure and if Satoshi was alive, even he would not be sure for the bitcoin future. But as we see that Fiat markets situation are not so good, this indicates that crypto market will flourish.
Even if the bitcoin halving may not be the cause of next bitcoin pump, it can be that the world biggest economic crash which will make bitcoin cross 100,000$ or more.

[Astvile]

People can always believe what they want to believe if you believe that bitcoins price will set back to 3k usd then be it. Spare funds so you can buy more if that will really happen in no time. Bitcoin price falling that low is just a possibilty that does not have even 10% chance of happening maybe not untill the next bull run will happen.

[MURONDI]

the bitcoin market is not the same as the forex market, bitcoin is more difficult to predict than forex, technical analysis is less effective in bitcoin trading, I often try technical analysis for bitcoin predictions but often meet with false signals.

[pakhitheboss]

I think BTC is about to shock the world, with an epic meltdown into halving that nobody expects. I'm sure many of you know that I don't really use Elliott Wave too often, usually because I think it is too prone to misinterpretation. As an analyst, I like to keep things clear and simple on my charts, so that I can decipher what is going on in an easy to understand way. That's what works for me. However, I'm giving Elliott Wave Theory some credence here, in the long term Bitcoin chart.

Now, I've said on numerous occasions that BTC's log regression arc (blue arc) is the most beautiful and technically respected formation that I have ever seen in my eleven years as an analyst. I've also said on multiple occasions, that I didn't trust the recent bull run, because price never fell to my personal regression arc. Many other analysts have drawn it differently, in a way that shows price touching it in December of 2018, but they erroneously allow price to dip below it in years prior, simply to fulfill their fantasies of their emotional narratives. Not MagicPoopCannon. I always bring it to you raw and uncut, even if it causes uproar and rejection.

Looking at this weekly log chart of Bitcoin , you can CLEARLY see that BTC has printed five impulse waves up. The first wave began at it's creation, and the fifth wave ended at the high of 2017. Since then, BTC has clearly been in an ABC correction phase. I mentioned this as a possibility in the past, and here we can see that it really seems to be playing out.

Here's where things get messy though. For the ABC wave to complete itself BTC will more than likely break down below the blue regression arc, and that is a big problem technically, in my opinion. Now, the end of the C wave can be as low as the A wave (flat) or deeper than the A wave ( zig-zag .) With that said, if price were to fall quickly to the regression arc, somewhere around 3000, we could see a flat play out, with price completing the C wave without breaking the regression arc.

You may be wondering why the regression arc is so important. In my view, it's the primary technical formation projecting that BTC will rise to the hundreds-of-thousands range. If it is broken and not recovered, BTC may never reach those lofty targets of common belief. That's why I'm concerned about the future of BTC . Conversely, a new 12345 wave impulse could begin after the C wave completes, but who knows if that will happen? Nothing is guaranteed. Bitcoin is heavily centralized to China, and they're apparently on a warpath to end all crypto trading. They could easily cause major disruptions in the space, since over 60% of the BTC network is centralized inside of their borders. In other words, I would much rather be a buyer at the end of the C wave, than a holder into oblivion. I have profits to protect, and I intend on doing that, even if it means risking some upside gains. At this point, the market has to prove to me that it can and will recover. One thing that is a fact of trading, is that the trend is your friend. Since the high at 13800, the trend has been down, and I have been incrementally liquidating my positions.

Now, we can see on the chart the the 50 week MA (in orange) is right below the current price action. I showed in the last analysis how I thought BTC would fall to it in the near future, and that happened exactly as I had anticipated. Now that we're here, I think it is more likely that BTC will break down below the 50 week MA, to test the more important support/resistance zone around 6000. If that is lost, BTC could fall to the 5600 range, where it will meet the 200 week MA (in purple.) If you recall, that is where BTC held in December 2018 at about 3200. Unfortunately, if any credence should be given to Elliott and his Theory of Waves, price should also break down below that. Historically, price has never really broken down below the 200 week MA. It has been tested and maybe breached a few times, but never with great magnitude. I think we're about to see a breakdown below that, at least for a retest of the 3000 area at the bottom of the blue regression arc. Honestly, I think the most likely outcome here, is that BTC will fall much deeper than that, potentially to 2000 or lower.

I don't want to give too much weight to Elliott Wave here though. But just look at the volume since 2015. It has been on a consistent fall, dwindling and dwindling while everyone ignores it. Interestingly, the end of the C wave corresponds well with the ending stages of the falling volume resistance (black trendline .) So, there is a good chance that we could see an explosion of surging volume there. So, I would prefer to be a buyer in that region. Basically anything below 3000 I will be interested in buying at this point, and I think that's true for a lot of people, which is why we could see an explosion in volume if prices fall down there.

Furthermore, look at the weekly RSI . You can see that the red horizontal trendline (around 56) is a clear indicator of bull and bear markets. When BTC gets above it and holds above it, we are in a bull market. When BTC breaks down below it, and confirms it as resistance, we are in a bear market. Last month, BTC confirmed that level as resistance, proving that we are in a bear market right now. So, I won't be hodling anything here, until BTC shows a real improvement. If BTC rises 1,000 or more tomorrow, I don't care. I'm looking at the big picture, and I think the highest probability is that BTC will melt into the halving, in a way that nobody is anticipating. In fact, the only reason BTC may have this beautiful chart, is because it has been in the process of forming a perfect 5 wave impulse for the last eight plus years. Now that the impulse is complete, I can't help but wonder if BTC really has any value. People will call that FUD and blah blah blah, but I'm an analyst and an educated investor — not a blind ideologist. I do think BTC has value, I just don't know what that value is, especially since adoption is lackluster, the lightning network is unimpressive, and BTC has shown that it isn't much other than a "digital store of value." Considering BTC's volatility , and the fact that it's at the end of a five wave impulse, BTC could be a DESTROYER of value going forward. We simply don't know, and there is no real way to calculate the value of it. I've looked at mining costs, profitability, difficulty adjustments, halvings, transaction values, the hash rate, you name it. The true value of BTC is something that everyone speculates on.

I'll leave you with this; just because BTC has risen for the majority of it's lifetime, doesn't mean that it will be profitable from here. For all we know, BTC may never see 10,000 again, and there are many technical and fundamental reasons to believe that. Choose your moves wisely. The future we've all envisioned is not guaranteed.

I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

join our telegram : https://t.me/priceprediction

Everytime Bitcoin goes down, you will see a scammer again ready to scam. This post is one of the best example. Stay away from the telegram channel, you will lose money has soon as you join it.

[piebeyb]

I don't want to give too much weight to Elliott Wave here though. But just look at the volume since 2015. It has been on a consistent fall, dwindling and dwindling while everyone ignores it. Interestingly, the end of the C wave corresponds well with the ending stages of the falling volume resistance (black trendline .) So, there is a good chance that we could see an explosion of surging volume there. So, I would prefer to be a buyer in that region. Basically anything below 3000 I will be interested in buying at this point, and I think that's true for a lot of people, which is why we could see an explosion in volume if prices fall down there.

I hope you can find the price of bitcoin touching below $ 3000, but if you don't find that price back then come back to this thread to close the thread, I just want to see the real bear really throwing away the bitcoin price falls below $ 3000, if your prediction is correct I will admire you as an experienced trader

[aardvark15]

This would be very shocking after seeing an increase to $14,000.  I don’t know if it will go that low but I will view it as a buying opportunity even if I have to borrow money to do it.

[Palider]

Well, if it does happen let's prepare our money to buy bitcoin. Because this may be our last chance to buy cheap bitcoin. I'm sure the big whales are preparing for this, as once the price of bitcoin has dropped and it has reached 3,000 $ it is the signal to pump up the bitcoin price again.

[Tipstar]

Everyone has the right to think for themselves and when it comes to money, you'd rather be yourself responsible for your money rather than following others. Bitcoin reached a all time high of $19783 and decreased to one third of that time in a month. We can assume bitcoin may reach even lower price but we also must keep in mind that the prices do bounce up.

[joinfree]

Is it not funny that we always have newbies and crypto noobs always telling us the OGs about the price trends of bitcoin. the lamest thing is that i learnt he plagiarized the post. i hope he has already been banned from plagiarizing more posts in the near future. Damn, how i wish we could have a way of getting rid of all these posters. Big ups to the mods with this daily hustle of cleansing this forum

[samcrypto]

Get ready to buy then !
You won't get this 2nd chance anymore in fact I suggest to start now. Sell your organs and start buying.

I’m preparing my last kidney for this one, got sold my other one when I bought the new iPhone. Haha
Well, kidding aside I do support this suggestion (not to sell your organs), but to buy more when the price is dumping and its true that this is a once in a lifetime opportunity and if bitcoin goes down to $3k again believe that it will achieve the $10k level and up again just like the trend this year.

[bitzizzix]

Well, if it does happen let's prepare our money to buy bitcoin. Because this may be our last chance to buy cheap bitcoin. I'm sure the big whales are preparing for this, as once the price of bitcoin has dropped and it has reached 3,000 $ it is the signal to pump up the bitcoin price again.

The decline in bitcoin is not a big problem and it is for those who invest in the long run, and when bitcoin decreases it will be an opportunity for investors or bitcoin users to buy it and hold it and wait for bitcoin to increase again.
because when bitcoin goes down it will definitely go up again and that's for sure.

[tsaroz]

There are many reasons why bitcoin would not fall below 6.5K.
Most of the holder at the current time has bought it at a higher price than 6.5K and they would stop selling on price going below it. Miners would only sell their coins on profit, they are also found to store coins when the prices are low. And this year there were many institutional investors that have bought and hold bitcoin as a hedge.

[iamaruf]

though this post is copy but I want to tell you that If bitcoin price down to 3000$ Then I am going to buy more btc. Unfortunately btc not going to fall 3000$ 

join our telegram : https://t.me/priceprediction

Another Shit group.Don't trust shit signal group.

[Mike Mayor]

Oh, hush now. Besides like a member already pointed out this is plagiarized? Why did you do that? Are you trying to get merits for someone else's work? Btw next time you steal someone's work make sure the person you steal with is not a total idiot that just does FUD to get attention to what they saying and to gain more followers. That graph doesn't even make sense, its just scribbles over the bitcoin price based on some fantasy illusion that this person has the magical ability to somehow predict bitcoin. The truth is no-one will know and anyone claiming to know is talking nonsense. I guess sometimes you can predict a rise and fall but this is usually with good altcoin projects and not with bitcoin. Since bitcoins price is based on who knows what? I guess on how well it works and how many people use and believe in it basically adoption rates?

This would be very shocking after seeing an increase to $14,000.  I don’t know if it will go that low but I will view it as a buying opportunity even if I have to borrow money to do it.

Stop spamming dude. All your shit is one-liners abut nothing. You don't deserve to wear a signature. Are you honestly proud of the post I just quoted of yours? Do you think someone should pay you for vomiting that out?

[electronicash]

i really have no idea how to read the Elliott Wave indicator, i'm finding it hard to learn when coins are not going up. it just doesn't motivate me to learn more indicators when i'm already confident with just few in my chart. it doesn't clear my view anymore. after seeing the article is actually from tradingview.com i'm about to take this seriously and i mean they wouldn't post things like that if they are not that half seeing the possibility.  going down to $3k is a horrible price for the funds manager. hope we won't be seeing some of them committing suicides.

[alani123]

Sorry to say so, but I think technical analysis is most useless for such a prediction. It doesn't ring a bell to me that OP attached a link to promote something of his own after such a long wall of text that mostly consists of nonsense. Fake it till you make it. 

[LUCKMCFLY]

Well I use the Elliot wave to study the Bitcoin chart when it is trending, be it bullish or bearish, and in days, it is my criteria that has given me very good results overall.

I think that now there is a great opportunity to buy only, because we are at the beginning of the bullish phase, maybe there are many sales now, it may be because of news from China or whales plans, I think it will not go down much, what will come down I have to go down, but they won't kill the castles in people's air.

The best thing now is to buy, I see it from my point of view, because the fact that Bitcoin will reach far beyond $ 20k is enough motivation.

[darkangel11]

I'll tell you why I think this is very unlikely to happen. First of all the bottom is at 3100. If we broke this and hit 3000 we'd go much lower. Breaking of the former low never ends with a price going $100 below it and up unless you only wick below it and bounce back.
If the candle goes lower you can expect 2300, but this won't happen. 3k was a strong support in 2017 and 2018 and breaking it would also break long term trendline that Bitcoin has followed for the last 10 years!

Also percentage wise this bitcoin correction was already pretty severe, much lower than the average. Going to 2k would mean a 90% correction, which is very unlikely. You'd have to make all those who sold between 20 and 10k to just sit idly by for the next year, while we're going towards 2k and not try to catch the bounce back from a possible double bottom. Pretty naive, don't you think?

[naikturun]

This is a great opportunity, wouldn't people say invest when others panic and panic when others invest.
So this is a good moment to buy, because the crash causes a considerable price drop in so I advise you to buy now, of course the market will recover not be forever down.

[ningrum]

This is a great opportunity, wouldn't people say invest when others panic and panic when others invest.
So this is a good moment to buy, because the crash causes a considerable price drop in so I advise you to buy now, of course the market will recover not be forever down.

absolutely right, and I'm sure the price of Bitcoin won't touch $ 3000 anymore, I can guarantee that,
if indeed Bitcoin touches the price of $ 3000 don't be afraid to buy it

[Mahanton]

I do really hate these kind of post which somewhat sounds on creating some FUD or some sort.It isnt impossible to go that low but
it would really took lots of considerations before dumping to that low.If btc set to fall into that range then accumulation or buying is suggested
but i doubt that anybody wont really be that confident on that time.Just like what happen that all time low of 3k? for sure majority are hesitant to
enter or buy having those thoughts that it might slump further more.

[coolcoinz]

This is a great opportunity, wouldn't people say invest when others panic and panic when others invest.
So this is a good moment to buy, because the crash causes a considerable price drop in so I advise you to buy now, of course the market will recover not be forever down.

absolutely right, and I'm sure the price of Bitcoin won't touch $ 3000 anymore, I can guarantee that,
if indeed Bitcoin touches the price of $ 3000 don't be afraid to buy it

You're not so sure if in the next sentence after saying that you can guarantee it you already tell people what to do if it does the opposite. Doesn't look like confidence to me.

Most TA specialists will never tell you that the price will do this or that and will never guarantee anything. They always play it safe like "it looks like bitcoin wants to go up but there's always a chance it will go down so observe and if this level holds it will go up and if it doesn't it will go down. In layman's terms it means that they don't know. It will go up or it will go down.

Probably the only two thing certain at this point is that Bitcoin will never go to 0 and that it will not remain stable. It's going to be volatile and it's not going to stay in a price range, like 7-10k it will break above or below that's what I can bet all my money on. We'll see how the rest plays out.

[Reid]

Wow! That is a lot to swallow in just a few minutes.
Maybe I will marinate it first on my brain.
Or, maybe not.

I don't  believe some of his points. The good thing though is the footnote for telling it is just for educational purpose.
If this does happen then I am buying more. It creates opportunity to those late investors. (although I am not) I just don't have that large sum of money to buy in an instant.

The correction had been done from 20k to 3k. I guess that already said that the bottom is 3k and no lesser than that.

[wildan88]

This is a great opportunity, wouldn't people say invest when others panic and panic when others invest.
So this is a good moment to buy, because the crash causes a considerable price drop in so I advise you to buy now, of course the market will recover not be forever down.

absolutely right, and I'm sure the price of Bitcoin won't touch $ 3000 anymore, I can guarantee that,
if indeed Bitcoin touches the price of $ 3000 don't be afraid to buy it

no one can guarantee the price of bitcoin, moreover, you only predict without giving an analysis. although TA experts, because bitcoin is really influenced by demand and supply, besides that it is sometimes influenced by negative and positive news. if that happens we learn from 3000 before, after falling to 3000 bitcoin recovered and back above 13000. the point is buying as much as you have.

[magneto]

Lmao. All you have done is speculate without any evidence, yet you make it seem like you're some all knowing wizard of the charts

Perhaps BTC will drop down to $3k momentarily. However, with the improved fundamentals as a result of the LN and cheaper transaction fees that it brings, I doubt that any price level that low will be sustained for a significant amount of time.

There's no reason to panic so hard or to say that BTC won't see five digits again. That's just pure FUD.

[jostorres]

Well, I didn't start making use of Bitcoin because of the fact that I'm making money from it, my first reason was using it as a method of transaction and I also lol the technology. So even if I should wake up and the price of Bitcoin has dropped down to $0.00, as long as I can make a transaction with it, I will still continue to make use of it. The only time I will stop making use of cryptocurrency is if they happen to say that there is no more using it for transactions.

There are people who make use of stable coins (myself included) and they don't even bother about prices going up or not. Imagine the Libra project was a success, do you think people would use it for profit? No, they will use it for transaction. That's the same mindset we need to have when it comes to bitcoin. When I invest in Bitcoin I always invest what I can risk, so if there happens to be loss I'm sure it is something I can deal with.

[figmentofmyass]

Looking at this weekly log chart of Bitcoin , you can CLEARLY see that BTC has printed five impulse waves up. The first wave began at it's creation, and the fifth wave ended at the high of 2017. Since then, BTC has clearly been in an ABC correction phase. I mentioned this as a possibility in the past, and here we can see that it really seems to be playing out.

it would really help if you shared your chart, for visualization purposes. we also can't tell if your wave count follows the rules/guidelines, so we can't tell how likely it is to be correct.

our resident EW analyst has a preferred count that puts us in primary wave 5: https://bitcointalk.org/index.php?topic=5128394.msg53171045#new

You may be wondering why the regression arc is so important. In my view, it's the primary technical formation projecting that BTC will rise to the hundreds-of-thousands range. If it is broken and not recovered, BTC may never reach those lofty targets of common belief.

why? in a wave 2 pullback, one would expect the trendline in wave 1 to be broken.

[exstasie]

If the market goes to $3K, it's not stopping there. Too much time has passed for a proper double bottom. We've trapped too much supply at much higher prices. Like xxxx123abcxxxx, I would be aiming closer to the $1K-$1,200 range near the 2013 highs.

I'm still favoring a bullish outcome though. I see this June-November correction as similar to the November 2015-May 2016 correction. We may need to ride out this bearishness until the halving pump next quarter though.

[barota]

halving comming ; some traders does not know that prices can rise to over 75 percent in one day because of halving . people who learn about bitcoin know that bitcoin will reach 50000 usd per btc at latest by 2020 . but other dont love bitcoin for this reason they talk about crash

[STT]

I do prefer charts as said above ^^  I dont use EW myself but I dont disagree with the idea of phases to price changes.   Charts are just more accessible and I believe use a different part of the brain and to some extent we can all spot a pattern, a feasible trend but plain numbers or words can be more cryptic.
   Some hate charts I know, partly thats unfamiliarity like the Japanese Candlesticks for example is actually a great aid and its plain data.   I'll help anyone go through candlesticks if they want and it will help you every day to see data more quickly, I used to prefer line charts long ago.

Sorry to say so, but I think technical analysis is most useless for such a prediction. It doesn't ring a bell to me that OP attached a link to promote something of his own after such a long wall of text that mostly consists of nonsense. Fake it till you make it.  

TA is about probabilities, so its a bit of a dark art as they never state definites and people always want the absolute knowledge.   We dont ever get certainty unfortunately and the judgement remains personal, partially from experience and recognition of previous price action.
    I do need to see his chart but to be fair that is not a wall of text, he went to the trouble to punctuate and split his points into paragraphs.

I remember in the spring people saying its extremely unlikely to break the 200 week moving average, its not done this before.    Hence the idea if we goto 3k then we are likely subject to a further reset, that fits.

[wheelz1200]

There is tons of analysis pointing bitcoin wont come near $3k.  I understand you put a lot of thought into it, but TA in crypto is more just a dart at the board at this point.  When singular organizations can manipulate up or down the price all TA goes out the door.  If the forces to be wanted this to love up that's what will happen same the other way around on the downside.  How about if you believe in bitcoin and cryptos longevity just incrementally buy, hold, and not care what the current price of btc is or it's short term moves.

[milewilda]

There is tons of analysis pointing bitcoin wont come near $3k.  I understand you put a lot of thought into it, but TA in crypto is more just a dart at the board at this point.  When singular organizations can manipulate up or down the price all TA goes out the door.  If the forces to be wanted this to love up that's what will happen same the other way around on the downside.  How about if you believe in bitcoin and cryptos longevity just incrementally buy, hold, and not care what the current price of btc is or it's short term moves.

Even for long term you cant still have that kind of assurance to put up on your mind and be confident on future years to time.There would be people whom would prefer on doing shorter trade
on using up TA's most of the time.Just as said where its just like doing dart where those technicals would hit or miss.We cant say  its totally wrong nor not possible but to think that going
that low wont surely happen as of these days.We dipped down but not able to break those lower supports.I wont be surprised if later on there would be some analysis saying breaking the ATH on next weeks to come.lol

[btc_angela]

If the market goes to $3K, it's not stopping there. Too much time has passed for a proper double bottom. We've trapped too much supply at much higher prices. Like xxxx123abcxxxx, I would be aiming closer to the $1K-$1,200 range near the 2013 highs.

I'm still favoring a bullish outcome though. I see this June-November correction as similar to the November 2015-May 2016 correction. We may need to ride out this bearishness until the halving pump next quarter though.

Thanks for your insight, Yeah I've seen similarities as well so I guess we just need to keep grinding day to day. I mean I'm not here duding the 2015-2016 correction so it might have been painful for those who have witnessed it. But I guess they keep their mentality intact and that's why they are rewarded by the 2017 bull run. So just ride out this bearish trend and long term term, bitcoin block halving in 2020.

[Distinctin]

There is nothing to believe about OP's speculation cause he's totally out from crypt, in fact, he would like to invite everyone for their telegram just to educate us and tried to make a scam. As noted by Plagiarism, I think we don't have to believe his statement and even thinking that there is no reason to believe having a huge fall of bitcoin price. In fact, we are seeing now that Bitcoin price recovers slowly and put it in my insights that we get back to $10k before we end up this year.

[wheelz1200]

There is tons of analysis pointing bitcoin wont come near $3k.  I understand you put a lot of thought into it, but TA in crypto is more just a dart at the board at this point.  When singular organizations can manipulate up or down the price all TA goes out the door.  If the forces to be wanted this to love up that's what will happen same the other way around on the downside.  How about if you believe in bitcoin and cryptos longevity just incrementally buy, hold, and not care what the current price of btc is or it's short term moves.

Even for long term you cant still have that kind of assurance to put up on your mind and be confident on future years to time.There would be people whom would prefer on doing shorter trade
on using up TA's most of the time.Just as said where its just like doing dart where those technicals would hit or miss.We cant say  its totally wrong nor not possible but to think that going
that low wont surely happen as of these days.We dipped down but not able to break those lower supports.I wont be surprised if later on there would be some analysis saying breaking the ATH on next weeks to come.lol

Yeah I know there is nothing that is guaranteed long term but short term trading is merely gambling, all the TA in the world wont help short term trading in crypto markets.  To many random pumps and dumps for no rhyme or reason that does not follow any TA.  Especially with anything other than bitcoin due to volume and the ability for one group to manipulate alt markets. 

[EdenHazard]

If the market goes to $3K, it's not stopping there. Too much time has passed for a proper double bottom. We've trapped too much supply at much higher prices. Like xxxx123abcxxxx, I would be aiming closer to the $1K-$1,200 range near the 2013 highs.

I'm still favoring a bullish outcome though. I see this June-November correction as similar to the November 2015-May 2016 correction. We may need to ride out this bearishness until the halving pump next quarter though.

Thanks for your insight, Yeah I've seen similarities as well so I guess we just need to keep grinding day to day. I mean I'm not here duding the 2015-2016 correction so it might have been painful for those who have witnessed it. But I guess they keep their mentality intact and that's why they are rewarded by the 2017 bull run. So just ride out this bearish trend and long term term, bitcoin block halving in 2020.

Well I won't compare the situation right now to anything, IMHO there's very small chance only that things could repeated just like in the past .

Today is today and tomorrow is tomorrow, let the yesterday be a history.
You must be happy whenever the price fall , there's no better time to buy more bitcoin at the current cheap and cheaper price, don't miss out.
People need to set a two sides strategy, one to expecting price to go low as you want to buy a lot of bitcoin with discounted price and the other is expecting the bitcoin halving in 2020 would make a significant price move as you hold bitcoin already to gain its value since long time ago.

[kanayaTabitha]

Get ready to buy then !
You won't get this 2nd chance anymore in fact I suggest to start now. Sell your organs and start buying.

It's a nice hyperbolic statement, i wonder when there is a person who read this really did this
If those prediction is really happen so we better to wait for lower price, but i'm not sure btc price will fall that deep because the demand is still strong and the halving is getting closer.

[Darooghe]

Most people like OP usually buy stuff at the wrong time, and then sell what they should keep, and then they lose everything. As a tip when you're worried and start to become emotional about your investment, you will end up making poor decisions. If you need the money, sell, and find a more stable investment. If you're just greedy, I strongly recommend HODL. most people can't handle this type of market volatility and you probably end up buying at a higher price in the future.

[daarul50]

Get ready to buy then !
You won't get this 2nd chance anymore in fact I suggest to start now. Sell your organs and start buying.

It's a nice hyperbolic statement, i wonder when there is a person who read this really did this
If those prediction is really happen so we better to wait for lower price, but i'm not sure btc price will fall that deep because the demand is still strong and the halving is getting closer.

i heard that a kidney could be worth up to $1 million US dollar , go ahead guys .

in a serious note , when you see there is an opportunity like this , where the price dropped to the very low during the past 1 year i think it could be a worth betting if you sell some stuff that you don't really need it for now , for example if you have two cars , sell it one now and make it three in the next few months , a simply math on taking risk actually.

but of course you need to becareful making this kind decision, i never come to make any financial advice. but when it comes to see a bitcoin price drop to $3000 where big event held ahead in 2020 , this is a very rare opportunity to make a high yield invesment.

[andycarrol]

Most people like OP usually buy stuff at the wrong time, and then sell what they should keep, and then they lose everything. As a tip when you're worried and start to become emotional about your investment, you will end up making poor decisions. If you need the money, sell, and find a more stable investment. If you're just greedy, I strongly recommend HODL. most people can't handle this type of market volatility and you probably end up buying at a higher price in the future.

the point of all is not having knowledge, many people panic so they don't know what will happen next. limited funds also sometimes make me want to sell when prices will go down, for fear that if it goes down deep enough and can't buy when the price is very low.

[bitbunnny]

Most people like OP usually buy stuff at the wrong time, and then sell what they should keep, and then they lose everything. As a tip when you're worried and start to become emotional about your investment, you will end up making poor decisions. If you need the money, sell, and find a more stable investment. If you're just greedy, I strongly recommend HODL. most people can't handle this type of market volatility and you probably end up buying at a higher price in the future.

the point of all is not having knowledge, many people panic so they don't know what will happen next. limited funds also sometimes make me want to sell when prices will go down, for fear that if it goes down deep enough and can't buy when the price is very low.

Although you get tempted to sell be aware that price goes both ways, up.and down, so when the price falls that doesn't mean it will last forever. It's important to know to make the difference between correction or dump that might last a while and needs to be followed by some actions. Just don't ever panic, that will make you do reckless decisions.

[el kaka22]

I think technical analysis is most useless for such a prediction.

Technical analysis always subject to be overridden. It means when deciding factors change, those support and resistance levels need to be adjusted accordingly. I am not seeing any possibilities for prices to break again its recent low which is around $6500 levels. It means we may not see any prices which are lower than $7k levels here after. At the same time, bitcoin may not enter into bullish mode directly. It may remain sideways at least for short to mid term.

It means we cannot expect to have new ATH in short term. We might need to wait till beginning of 2021 for new ATh most probably. Again, no speculation is final as market reserves all the rights to change anything at the final moments . But, current markets are good to buy more without any hesitations.

[andycarrol]

Most people like OP usually buy stuff at the wrong time, and then sell what they should keep, and then they lose everything. As a tip when you're worried and start to become emotional about your investment, you will end up making poor decisions. If you need the money, sell, and find a more stable investment. If you're just greedy, I strongly recommend HODL. most people can't handle this type of market volatility and you probably end up buying at a higher price in the future.

the point of all is not having knowledge, many people panic so they don't know what will happen next. limited funds also sometimes make me want to sell when prices will go down, for fear that if it goes down deep enough and can't buy when the price is very low.

Although you get tempted to sell be aware that price goes both ways, up.and down, so when the price falls that doesn't mean it will last forever. It's important to know to make the difference between correction or dump that might last a while and needs to be followed by some actions. Just don't ever panic, that will make you do reckless decisions.

of course, if we look at the history of price movements down and up it is certainly common because, in the end, I am sure it will go back to the top, it can even go higher and that is due to several factors to come, such as mass adoption, halving and others. so as long as many developments have positive values, it is certain that prices will continue to increase in the future.

[alexsandria]

the bitcoin market is not the same as the forex market, bitcoin is more difficult to predict than forex, technical analysis is less effective in bitcoin trading, I often try technical analysis for bitcoin predictions but often meet with false signals.

Not all the time mate. It is somehow quite effective it may be you deal with it in a wrong way. Well, bitcoin market do go side ways but sometimes those alts are partially dependent to bitcoin. I agree that bitcoin trading is quite tough, but with proper techinical analysis with proper dealing with it would lessen your greater loss than not.

[joshy23]

the bitcoin market is not the same as the forex market, bitcoin is more difficult to predict than forex, technical analysis is less effective in bitcoin trading, I often try technical analysis for bitcoin predictions but often meet with false signals.

Not all the time mate. It is somehow quite effective it may be you deal with it in a wrong way. Well, bitcoin market do go side ways but sometimes those alts are partially dependent to bitcoin. I agree that bitcoin trading is quite tough, but with proper techinical analysis with proper dealing with it would lessen your greater loss than not.

Continuous learning on how to track down those technical analysis and how it will work according to your plans. The market volatility made it more tougher as momentum keep on changing from time to time. You need to have a good position before you make the deal both long and short trades can be help by good technical analysis to pick your position in the early stage.

[Bossian]

I think BTC is about to shock the world, with an epic meltdown into halving that nobody expects. I'm sure many of you know that I don't really use Elliott Wave too often, usually because I think it is too prone to misinterpretation. As an analyst, I like to keep things clear and simple on my charts, so that I can decipher what is going on in an easy to understand way. That's what works for me. However, I'm giving Elliott Wave Theory some credence here, in the long term Bitcoin chart.

Now, I've said on numerous occasions that BTC's log regression arc (blue arc) is the most beautiful and technically respected formation that I have ever seen in my eleven years as an analyst. I've also said on multiple occasions, that I didn't trust the recent bull run, because price never fell to my personal regression arc. Many other analysts have drawn it differently, in a way that shows price touching it in December of 2018, but they erroneously allow price to dip below it in years prior, simply to fulfill their fantasies of their emotional narratives. Not MagicPoopCannon. I always bring it to you raw and uncut, even if it causes uproar and rejection.

Looking at this weekly log chart of Bitcoin , you can CLEARLY see that BTC has printed five impulse waves up. The first wave began at it's creation, and the fifth wave ended at the high of 2017. Since then, BTC has clearly been in an ABC correction phase. I mentioned this as a possibility in the past, and here we can see that it really seems to be playing out.

Here's where things get messy though. For the ABC wave to complete itself BTC will more than likely break down below the blue regression arc, and that is a big problem technically, in my opinion. Now, the end of the C wave can be as low as the A wave (flat) or deeper than the A wave ( zig-zag .) With that said, if price were to fall quickly to the regression arc, somewhere around 3000, we could see a flat play out, with price completing the C wave without breaking the regression arc.

You may be wondering why the regression arc is so important. In my view, it's the primary technical formation projecting that BTC will rise to the hundreds-of-thousands range. If it is broken and not recovered, BTC may never reach those lofty targets of common belief. That's why I'm concerned about the future of BTC . Conversely, a new 12345 wave impulse could begin after the C wave completes, but who knows if that will happen? Nothing is guaranteed. Bitcoin is heavily centralized to China, and they're apparently on a warpath to end all crypto trading. They could easily cause major disruptions in the space, since over 60% of the BTC network is centralized inside of their borders. In other words, I would much rather be a buyer at the end of the C wave, than a holder into oblivion. I have profits to protect, and I intend on doing that, even if it means risking some upside gains. At this point, the market has to prove to me that it can and will recover. One thing that is a fact of trading, is that the trend is your friend. Since the high at 13800, the trend has been down, and I have been incrementally liquidating my positions.

Now, we can see on the chart the the 50 week MA (in orange) is right below the current price action. I showed in the last analysis how I thought BTC would fall to it in the near future, and that happened exactly as I had anticipated. Now that we're here, I think it is more likely that BTC will break down below the 50 week MA, to test the more important support/resistance zone around 6000. If that is lost, BTC could fall to the 5600 range, where it will meet the 200 week MA (in purple.) If you recall, that is where BTC held in December 2018 at about 3200. Unfortunately, if any credence should be given to Elliott and his Theory of Waves, price should also break down below that. Historically, price has never really broken down below the 200 week MA. It has been tested and maybe breached a few times, but never with great magnitude. I think we're about to see a breakdown below that, at least for a retest of the 3000 area at the bottom of the blue regression arc. Honestly, I think the most likely outcome here, is that BTC will fall much deeper than that, potentially to 2000 or lower.

I don't want to give too much weight to Elliott Wave here though. But just look at the volume since 2015. It has been on a consistent fall, dwindling and dwindling while everyone ignores it. Interestingly, the end of the C wave corresponds well with the ending stages of the falling volume resistance (black trendline .) So, there is a good chance that we could see an explosion of surging volume there. So, I would prefer to be a buyer in that region. Basically anything below 3000 I will be interested in buying at this point, and I think that's true for a lot of people, which is why we could see an explosion in volume if prices fall down there.

Furthermore, look at the weekly RSI . You can see that the red horizontal trendline (around 56) is a clear indicator of bull and bear markets. When BTC gets above it and holds above it, we are in a bull market. When BTC breaks down below it, and confirms it as resistance, we are in a bear market. Last month, BTC confirmed that level as resistance, proving that we are in a bear market right now. So, I won't be hodling anything here, until BTC shows a real improvement. If BTC rises 1,000 or more tomorrow, I don't care. I'm looking at the big picture, and I think the highest probability is that BTC will melt into the halving, in a way that nobody is anticipating. In fact, the only reason BTC may have this beautiful chart, is because it has been in the process of forming a perfect 5 wave impulse for the last eight plus years. Now that the impulse is complete, I can't help but wonder if BTC really has any value. People will call that FUD and blah blah blah, but I'm an analyst and an educated investor — not a blind ideologist. I do think BTC has value, I just don't know what that value is, especially since adoption is lackluster, the lightning network is unimpressive, and BTC has shown that it isn't much other than a "digital store of value." Considering BTC's volatility , and the fact that it's at the end of a five wave impulse, BTC could be a DESTROYER of value going forward. We simply don't know, and there is no real way to calculate the value of it. I've looked at mining costs, profitability, difficulty adjustments, halvings, transaction values, the hash rate, you name it. The true value of BTC is something that everyone speculates on.

I'll leave you with this; just because BTC has risen for the majority of it's lifetime, doesn't mean that it will be profitable from here. For all we know, BTC may never see 10,000 again, and there are many technical and fundamental reasons to believe that. Choose your moves wisely. The future we've all envisioned is not guaranteed.

I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

join our telegram : https://t.me/priceprediction

I was talking about the same stuff somewhere else on this forum (think I even created a thread about it).

If the C point is line with the top of the Wave 3 then a price around 3k is expected, however I saw a fractal posted by NebraskanGooner, this impressive fractal shows around 4.5k for May 2020 but of course it's tough to call exact prices.

One thing is almost certain though, sell at 9k whenever it's possible before the collapse.

[Bossian]

It means we cannot expect to have new ATH in short term. We might need to wait till beginning of 2021 for new ATh most probably. Again, no speculation is final as market reserves all the rights to change anything at the final moments . But, current markets are good to buy more without any hesitations.

I am also not expecting any all time high valuation anytime soon and it is true none of these speculation will go according to our plan nor anyone's, we have a good support around $6400 and it is highly unlikely that it will get breached unless we see a bearish trend when the price is hovering around $7k. The market cannot be predicted that easily and i always expect the unexpected all the time.

The support at 6.4k is very real indeed. Good point.

However the correction should be (unfortunately) stronger and should break below this support.

Long term trends are usually very strong, but things are looking good short term, until Jan or Feb 2020. Plenty of money to be made in the following 2-3 months. That's the bright side of the crypto world I guess, make money regardless if the trend is bullish or bearish  

[bitvalak]

I think BTC is about to shock the world, with an epic meltdown into halving that nobody expects. I'm sure many of you know that I don't really use Elliott Wave too often, usually because I think it is too prone to misinterpretation. As an analyst, I like to keep things clear and simple on my charts, so that I can decipher what is going on in an easy to understand way. That's what works for me. However, I'm giving Elliott Wave Theory some credence here, in the long term Bitcoin chart.

Now, I've said on numerous occasions that BTC's log regression arc (blue arc) is the most beautiful and technically respected formation that I have ever seen in my eleven years as an analyst. I've also said on multiple occasions, that I didn't trust the recent bull run, because price never fell to my personal regression arc. Many other analysts have drawn it differently, in a way that shows price touching it in December of 2018, but they erroneously allow price to dip below it in years prior, simply to fulfill their fantasies of their emotional narratives. Not MagicPoopCannon. I always bring it to you raw and uncut, even if it causes uproar and rejection.

Looking at this weekly log chart of Bitcoin , you can CLEARLY see that BTC has printed five impulse waves up. The first wave began at it's creation, and the fifth wave ended at the high of 2017. Since then, BTC has clearly been in an ABC correction phase. I mentioned this as a possibility in the past, and here we can see that it really seems to be playing out.

Here's where things get messy though. For the ABC wave to complete itself BTC will more than likely break down below the blue regression arc, and that is a big problem technically, in my opinion. Now, the end of the C wave can be as low as the A wave (flat) or deeper than the A wave ( zig-zag .) With that said, if price were to fall quickly to the regression arc, somewhere around 3000, we could see a flat play out, with price completing the C wave without breaking the regression arc.

You may be wondering why the regression arc is so important. In my view, it's the primary technical formation projecting that BTC will rise to the hundreds-of-thousands range. If it is broken and not recovered, BTC may never reach those lofty targets of common belief. That's why I'm concerned about the future of BTC . Conversely, a new 12345 wave impulse could begin after the C wave completes, but who knows if that will happen? Nothing is guaranteed. Bitcoin is heavily centralized to China, and they're apparently on a warpath to end all crypto trading. They could easily cause major disruptions in the space, since over 60% of the BTC network is centralized inside of their borders. In other words, I would much rather be a buyer at the end of the C wave, than a holder into oblivion. I have profits to protect, and I intend on doing that, even if it means risking some upside gains. At this point, the market has to prove to me that it can and will recover. One thing that is a fact of trading, is that the trend is your friend. Since the high at 13800, the trend has been down, and I have been incrementally liquidating my positions.

Now, we can see on the chart the the 50 week MA (in orange) is right below the current price action. I showed in the last analysis how I thought BTC would fall to it in the near future, and that happened exactly as I had anticipated. Now that we're here, I think it is more likely that BTC will break down below the 50 week MA, to test the more important support/resistance zone around 6000. If that is lost, BTC could fall to the 5600 range, where it will meet the 200 week MA (in purple.) If you recall, that is where BTC held in December 2018 at about 3200. Unfortunately, if any credence should be given to Elliott and his Theory of Waves, price should also break down below that. Historically, price has never really broken down below the 200 week MA. It has been tested and maybe breached a few times, but never with great magnitude. I think we're about to see a breakdown below that, at least for a retest of the 3000 area at the bottom of the blue regression arc. Honestly, I think the most likely outcome here, is that BTC will fall much deeper than that, potentially to 2000 or lower.

I don't want to give too much weight to Elliott Wave here though. But just look at the volume since 2015. It has been on a consistent fall, dwindling and dwindling while everyone ignores it. Interestingly, the end of the C wave corresponds well with the ending stages of the falling volume resistance (black trendline .) So, there is a good chance that we could see an explosion of surging volume there. So, I would prefer to be a buyer in that region. Basically anything below 3000 I will be interested in buying at this point, and I think that's true for a lot of people, which is why we could see an explosion in volume if prices fall down there.

Furthermore, look at the weekly RSI . You can see that the red horizontal trendline (around 56) is a clear indicator of bull and bear markets. When BTC gets above it and holds above it, we are in a bull market. When BTC breaks down below it, and confirms it as resistance, we are in a bear market. Last month, BTC confirmed that level as resistance, proving that we are in a bear market right now. So, I won't be hodling anything here, until BTC shows a real improvement. If BTC rises 1,000 or more tomorrow, I don't care. I'm looking at the big picture, and I think the highest probability is that BTC will melt into the halving, in a way that nobody is anticipating. In fact, the only reason BTC may have this beautiful chart, is because it has been in the process of forming a perfect 5 wave impulse for the last eight plus years. Now that the impulse is complete, I can't help but wonder if BTC really has any value. People will call that FUD and blah blah blah, but I'm an analyst and an educated investor — not a blind ideologist. I do think BTC has value, I just don't know what that value is, especially since adoption is lackluster, the lightning network is unimpressive, and BTC has shown that it isn't much other than a "digital store of value." Considering BTC's volatility , and the fact that it's at the end of a five wave impulse, BTC could be a DESTROYER of value going forward. We simply don't know, and there is no real way to calculate the value of it. I've looked at mining costs, profitability, difficulty adjustments, halvings, transaction values, the hash rate, you name it. The true value of BTC is something that everyone speculates on.

I'll leave you with this; just because BTC has risen for the majority of it's lifetime, doesn't mean that it will be profitable from here. For all we know, BTC may never see 10,000 again, and there are many technical and fundamental reasons to believe that. Choose your moves wisely. The future we've all envisioned is not guaranteed.

I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

join our telegram : https://t.me/priceprediction

You can not only rely on technical analysis, analysis can not be believed to be 100% correct. There are many possibilities that can refute a technical analysis.
Simply look at where a lot of sellers will definitely go down, and the more buyers there, the prices will go up. Market laws are always repeated like that.

[Wexlike]

Long term trends are usually very strong, but things are looking good short term, until Jan or Feb 2020. Plenty of money to be made in the following 2-3 months. That's the bright side of the crypto world I guess, make money regardless if the trend is bullish or bearish  

Hope for the same. Nice volatile trading range for scalping.

[carlfebz2]

Long term trends are usually very strong, but things are looking good short term, until Jan or Feb 2020. Plenty of money to be made in the following 2-3 months. That's the bright side of the crypto world I guess, make money regardless if the trend is bullish or bearish  

Hope for the same. Nice volatile trading range for scalping.

But scalping isnt for everyone thats why they do tend neither doing some swing or long term holding with their assets.Dont know why people do really like
to speculate going lower if we do consider on the path we take reaching these levels wayback into that sudden dump on the market.There were lots of fundamentals
that we can refer about but those arent sure things to be applied on the current market condition.On the upcoming halving and more future months to come
we can presume some positiveness but we wont know on when it would happen completely.

[Bossian]

Long term trends are usually very strong, but things are looking good short term, until Jan or Feb 2020. Plenty of money to be made in the following 2-3 months. That's the bright side of the crypto world I guess, make money regardless if the trend is bullish or bearish  

Hope for the same. Nice volatile trading range for scalping.

I don't know what's your definition of scalping, but from what I remember when trading on sport (small odds variation), it is a strategy to trade on very small movements.
I personally don't do this, but I understand how tempting it is.

But I advise you don't talk about scalping on this forum, you will be mocked. I was mocked on this very forum because I confessed placing trades for a 20% profits. But hey it worked everytime this year    Scalping is more 5% or this kind of profit? I believe so.

Basically you wait until we hit a resistance, and when we start to go down again, you sell, and buy again very shortly after.

I am not too comfortable with this since my commission with Bitstamp is 0.5%, that's too high in my opinion because you have to pay on both orders. That's why I aim for 20% profits, or similar.

Best of luck anyway.   

[electronicash]

below $3k is not the kind of stuff i would believe though. i am also looking on to the monthly charts, i would assume this below $3k that op said could happen by march to june but that might not happen due to halving. if a whale who starts to think of dumping because the price could go that low, he might just be buying his BTCs back for a higher price. there is not much to fud these days all the possible news had been overly exploited.

[Bossian]

But scalping isnt for everyone thats why they do tend neither doing some swing or long term holding with their assets.Dont know why people do really like
to speculate going lower.

Simple. Just consider this.

For instance, I purchased 1 BTC in June 2017. Right now I have 1.72 BTC because of trading.

That's why trading or even scalping is interesting but indeed you need to be skilled otherwise you are screwed. People who screw up are usually the ones who cannot take it emotionally (see some threads here, there are plenty around).

[Bossian]

below $3k is not the kind of stuff i would believe though. i am also looking on to the monthly charts, i would assume this below $3k that op said could happen by march to june but that might not happen due to halving. if a whale who starts to think of dumping because the price could go that low, he might just be buying his BTCs back for a higher price. there is not much to fud these days all the possible news had been overly exploited.

3k is exactly the top of Wave 3 (see Elliott Wave analysis), this price was not quoted randomly. Technical analysis gives this price but of course it's an estimate, I would personally be very confident we get around 4.5k next year. That's why there is no point buying now at 7.5k.

Why pay a second hand car at $7500 when you can get the same car in similar condition for $4500 a year later? That's what we are talking about it.
Patience is key  


Loving my profession.

[FlamingFingers]

Get ready to buy then !

Only the strong hearted will buy bitcoin at $3k,  majority of people will be afraid to buy at this stage,  just like when hit hit $3k previously, there will be lots of FUD about the price going down more thereby scaring those who don't have the courage to buy

Sell your organs and start buying.

Quite funny though  I wouldn't advise anyone to do this,  the market is highly volatile,  so that such person would not developed a heart attack if the Price correct before finally going up 

[watergold]

I think technical analysis is most useless for such a prediction.

It means we cannot expect to have new ATH in short term. We might need to wait till beginning of 2021 for new ATh most probably. Again, no speculation is final as market reserves all the rights to change anything at the final moments . But, current markets are good to buy more without any hesitations.

The new ATH is probably still far away because the market is not certain and what I see is only bearish, what happens after haliving will not make it into a new ATH but there is still a slow process and market movement, so I just think someone's technical analysis is not can be confirmed.

[fortunecrypto]

Get ready to buy then !
You won't get this 2nd chance anymore in fact I suggest to start now. Sell your organs and start buying.

That's wrong.Bitcoin price will continue to go back and forth between pumps and crashes for the rest of our lives.It can go back to 3K USD more than several times.

And I just thought on the first read of the paragraph that it is 2018, I'm surprised that it's 2019, just when everybody is talking about Bitcoin's next all-time high and how high it can reach again, here we go, some people, telling us that it will fall to $3000 or even lower, I did not even read the whole posts, because this is not the situation where we are in.

[d3nz]

I don't trust newbie accounts and plagiarised content, you should avoid copying people's content and this will mark your account untrustable.

And for the content that you have copied, Actually, bitcoin might go down not more than the value of $3000 and only below $6000 and this might happen before end of this year sowe might expect a hard plummet and it could bounce back the value and we don't know what range of value might it hit.

[kapalmabur]

I don't trust newbie accounts and plagiarised content, you should avoid copying people's content and this will mark your account untrustable.

And for the content that you have copied, Actually, bitcoin might go down not more than the value of $3000 and only below $6000 and this might happen before end of this year sowe might expect a hard plummet and it could bounce back the value and we don't know what range of value might it hit.

maybe he is experiencing frustration and depression because the price of bitcoin is down, I agree with you,
indeed if drawn at the bottom line then support is at $ 4500 and that is likely to happen, prepare your money! to buy

[Reatim]

join our telegram : https://t.me/priceprediction

i knew it,after that too long story in the end there is a advertisement lol,and who the fuck will join your telegram for price prediction when you were getting Posts of others?Plagiarism is a total shit and wondering why you are still not banned from this forum.

if you cannot even be trusted from the post why would people believe your prediction?


anyway if what you are saying is true?then i will be very thankful because now there is a chance to buy more than 2 bitcoin from that $3k below value.

[Savemore]

I don't trust newbie accounts and plagiarised content, you should avoid copying people's content and this will mark your account untrustable.

And for the content that you have copied, Actually, bitcoin might go down not more than the value of $3000 and only below $6000 and this might happen before end of this year sowe might expect a hard plummet and it could bounce back the value and we don't know what range of value might it hit.

All I trust in trading is my self, I do not intend to use sentiment analysis where my decision will be based to other people opinions and ideas. My decision is base on the price action and I'm using technical analysis for me to have an effective decision where I can maximize my profit and lessen the losses.

[Silberman]

Is it not funny that we always have newbies and crypto noobs always telling us the OGs about the price trends of bitcoin. the lamest thing is that i learnt he plagiarized the post. i hope he has already been banned from plagiarizing more posts in the near future. Damn, how i wish we could have a way of getting rid of all these posters. Big ups to the mods with this daily hustle of cleansing this forum

So disappointing, it is always important to support new members of the community especially when they seem to be posting good content but now that we know that he has plagiarized that post he deserves to get punished by the rules, and it is a shame because the content was good even if I do not agree with the prediction or with the method that was used to get to that prediction, however I believe that the market is in fact going to give us a surprise during the next weeks and it is going to go down a little bit further.

[Bossian]

I don't trust newbie accounts and plagiarised content, you should avoid copying people's content and this will mark your account untrustable.

And for the content that you have copied, Actually, bitcoin might go down not more than the value of $3000 and only below $6000 and this might happen before end of this year sowe might expect a hard plummet and it could bounce back the value and we don't know what range of value might it hit.

The fact that he is a newbie has nothing to do with this prediction. He is not the first one to predict 3k soonish. Is it plagiarized I have no idea (cannot be bothered to check), but I did read the same kind of prediction lately from other traders.

Remember, there is a resistance at 6.4k but this resistance is likely to be broken on the bottom (unfortunately), just before the halving (ironically ), so when the price will go below 6k, next big resistance will be 3k, and another massive resistance is 1k. That 1k price looks very far, but......

To be honest, 3k looks like a good buying target, but 1k would be even better in the long term, even though panic would be huge at this price. But buying at 1k would be fantastic IMO (please remember that BTC was worth 1k not that long ago actually if we look at the big picture), many holders would sell at 1k but this price would attract a lot of newcomers as well.

[Duzter]

I think technical analysis is most useless for such a prediction.

It means we cannot expect to have new ATH in short term. We might need to wait till beginning of 2021 for new ATh most probably. Again, no speculation is final as market reserves all the rights to change anything at the final moments . But, current markets are good to buy more without any hesitations.

The new ATH is probably still far away because the market is not certain and what I see is only bearish, what happens after haliving will not make it into a new ATH but there is still a slow process and market movement, so I just think someone's technical analysis is not can be confirmed.

The new ath is far away from my view, but the same can happen in no time. This is the reality of the market, unexpected market change happens in unexpected time period. Right now it isn't the time for such large scale growth. Probably now there will be gradual growth that makes the price move bullish in a much stabilized manner than moving steep high or low.