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

[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.