Will Bitcoin reach $ 3884 again?

[fabiorem]

Here how it goes. 5 waves, the second wave is higher than the fourth, but the first is lower than the third. The fourth wave didn't go up above the 0.618 (that is, $12k) in the fibo sequence, which denied a recovery for bitcoin.

This means the fifth and last wave will be lower than the first, that is, sub-2000 levels. Three digits is very likely to happen. Prepare your shopping carts.

[Smitty Werben Man Jensen]

$ 3800 is a magnet for bitcoin right now, even though the price is above the MA200, I can't be sure that it's safe before the Bitcoin price returns $ 8,000, then strong support is at $ 3800, hoping that $ 3800 won't be met again in the following supports

[bearexin]

No. I wasn't really sure about what will bitcoin do and I wasn't really looking at what it might do in the long term because I didn't do my research properly for something as big as this before and after it happened I was caught off guard as well so I wasn't ready to answer this. Now that everything is said and done and we are now playing all cards open I know what bitcoin can do and can't do.

I can tell you that bitcoin will not be 100k this year, I can almost guarantee it, as guarantee it as you can something in crypto world, I can also tell you that it will not go under 3884 again, that will not happen, I can guarantee that as well as much as I can. Of course do not make any trades or decision based on what I say but this is exactly what I am basing my own trades on.

[milewilda]

Here how it goes. 5 waves, the second wave is higher than the fourth, but the first is lower than the third. The fourth wave didn't go up above the 0.618 (that is, $12k) in the fibo sequence, which denied a recovery for bitcoin.

This means the fifth and last wave will be lower than the first, that is, sub-2000 levels. Three digits is very likely to happen. Prepare your shopping carts.

Im not saying that we wont see a 3 digit price yet nothing is certain into this crypto world but im aint a technical type of guy but if we do try to look on the current condition
then it might not able to break that strong 3800 support.We might have just able to witness and just missed out that opportunity on accumulating cheap coins when it dip in those low level
but well everything does have the possibility.

$ 3800 is a magnet for bitcoin right now, even though the price is above the MA200, I can't be sure that it's safe before the Bitcoin price returns $ 8,000, then strong support is at $ 3800, hoping that $ 3800 won't be met again in the following supports

Nothing is safe and everything can happen in a blink of an eye or least expected.So i wont be surprised if there would be some breakouts soon depending on how this market behaves.

[exstasie]

Here how it goes. 5 waves, the second wave is higher than the fourth, but the first is lower than the third. The fourth wave didn't go up above the 0.618 (that is, $12k) in the fibo sequence, which denied a recovery for bitcoin.

This means the fifth and last wave will be lower than the first, that is, sub-2000 levels. Three digits is very likely to happen. Prepare your shopping carts.

What kind of wave analysis is that? It's definitely not Elliott Wave Theory. The waves are all out of order. I'm also not sure that linear trend line is that meaningful. You should pull up a logarithmic chart if you're analyzing multi-year charts with exponential moves.

As far as bearish analysis goes, I think Masterluc's EW count is more likely:

[STT]

The fourth wave didn't go up above the 0.618 (that is, $12k)

Didnt close above that price maybe on weekly bars but its traded above 12k with some volume transacted.   The way that chart is drawn looks bullish to me, positive trend and short term trend that was negative passed.    I think BTC has more work to do but its been bullish since the low recently.

[Btc_1856]

The fourth wave didn't go up above the 0.618 (that is, $12k)

Didnt close above that price maybe on weekly bars but its traded above 12k with some volume transacted.   The way that chart is drawn looks bullish to me, positive trend and short term trend that was negative passed.    I think BTC has more work to do but its been bullish since the low recently.

As of now, still, the price of Bitcoin is in a bearish mode, which it is impossible to predict the current situation of the Bitcoin. There are changes in both ways in order to increase/decrease, but as of now, bitcoin is becoming very stable at the current value so there is a huge chance to increase the price of Bitcoin.

[coinfinger]

The good thing about bitcoin is the fact that we have peaked at 14k last year when we were at around 3.5k levels, everyone imagines that every single increase is the limit we have and we can't do that again.

This year we moved from 7k to 10k and everyone was like "this is how bitcoin increases", I am sorry but it is not, lets forget about what has happened in the past 10 years and the times bitcoin started the year at 700 dollars and peaked at 20k, that HAS happened before in 2017 but lets forget that, or lets forget the time when it was 20k but moved to 3k in the same year at 2018, that HAS happened as well.

Focus on just one previous year, last year around these times we moved from 3.5k to 14k and went back down to 7k as well. So, what does that tell us? We could be 3k or we could be 10k, there is always a chance to be 15k in both of those situations.

[fabiorem]

Im not saying that we wont see a 3 digit price yet nothing is certain into this crypto world but im aint a technical type of guy but if we do try to look on the current condition
then it might not able to break that strong 3800 support.We might have just able to witness and just missed out that opportunity on accumulating cheap coins when it dip in those low level
but well everything does have the possibility.

We might also be losing the opportunity of losing money too. Lets say you buy now, and in three days it plunges again.
Much better to hold what you have (since the price is too low to sell, miners are spending $8k to manufacture one bitcoin at the moment) and only buy in sub-1000s levels, than be greedy and lose money afterwards.

At least Trump knows the virus is a HOAX and maybe this circus is going to end sooner than we expect.

Besides, there are other products to invest too, including other cryptocurrencies, since bitcoin proved to be useless against financial crisis in the fiat system, going lower than any other asset.

[STT]

Hard to call it bearish when its moved so much but I will agree we are in no defined uptrend so expect pullbacks, profit taking and revision of these prices.    People will be looking for a top to the price I think and we have a natural level indicated by the largest bar on the chart recently I think:



So this whole area of sub 8000 is up for grabs, its hard to dismiss that level as possible having seen how far BTC surges at times as well as the sharp sell off possible also.  I dont doubt it for the meantime, each band is some significance in prior lows and high closing prices.
 6000 is the marker for the weekly phase, positive momentum to the price.   I'll watch that area before I presume its going to pull back.

[exstasie]

We might also be losing the opportunity of losing money too. Lets say you buy now, and in three days it plunges again.
Much better to hold what you have (since the price is too low to sell, miners are spending $8k to manufacture one bitcoin at the moment) and only buy in sub-1000s levels, than be greedy and lose money afterwards.

Buying into an 80% rise during a powerful downtrend is pretty greedy. Expecting sub-$1,000 is probably even more greedy.

Reality is probably somewhere in between: we're not going to the moon and we're not going to hell either. Greedy and fearful traders will be chopped up by a volatile range market instead.

At least Trump knows the virus is a HOAX and maybe this circus is going to end sooner than we expect.

A hoax? What the hell does that mean?

Besides, there are other products to invest too, including other cryptocurrencies, since bitcoin proved to be useless against financial crisis in the fiat system, going lower than any other asset.

BTC drops 63% in a crisis, and you think that makes shitcoins more attractive?

[gentlemand]

BTC drops 63% in a crisis, and you think that makes shitcoins more attractive?

He's gone BSV. This is now a recognised medical condition but sadly research into it has been sidelined by the current crisis.

Symptoms include believing your piece of shit is somehow immune to all the problems that ever single other project has. As the infection takes hold reason and the ability to reason gradually shuts down until the patient is in a state of critical denial and cannot be reached by any means at all.

They feel an urge to force their points of view on others at a time when it's vital that they're placed in absolute self isolation. As of right now there's no known cure.

The WHO has advocated sticking a fork in them and leaving them on the Andaman Islands.

[Asuspawer09]

Hard to call it bearish when its moved so much but I will agree we are in no defined uptrend so expect pullbacks, profit taking and revision of these prices.    People will be looking for a top to the price I think and we have a natural level indicated by the largest bar on the chart recently I think:



So this whole area of sub 8000 is up for grabs, its hard to dismiss that level as possible having seen how far BTC surges at times as well as the sharp sell off possible also.  I dont doubt it for the meantime, each band is some significance in prior lows and high closing prices.
 6000 is the marker for the weekly phase, positive momentum to the price.   I'll watch that area before I presume its going to pull back.

Reaching the price of 3884$? what I think possible at this time of crisis and I think at any moment market price of bitcoin could go down at any moment but nothing to worry since the market price of bitcoin is normally volatile the market price could go up and down at any moment. At this moment the market price of bitcoin is already having its resistance at the 7000$ i think the bitcoin is still recovering from the past from that do not normally happen a dump from 9000$- 3000$ could be alarming.

Still, bitcoin already has its demand from the community surely a lot of investors is just waiting for this dump to happened and invested in the 3000+$ price in the market and already waiting for the right time to sell off their bitcoin in the right price may be around 8000$ could already be a great profit.

[TrevorS]

Price is dumping again and now BTC is trading around 4800$. It’s very possible to hit again below 4000$. If Btc will not recover soon from current price to above of 5000$ we can it will hit again to 3884 even less. I can not understand actually what are happening with markets.😥   

Everything is obvious. All markets are in recession, and the cryptocurrency market is with them.

If prices fall, large market makers sell their assets, then they believe that it is more profitable for them than trying to keep the price at a level,
because in the end, in a panic, they will sell bitcoin in the first place turn to save the value of other assets.

[Botnake]

Price is dumping again and now BTC is trading around 4800$. It’s very possible to hit again below 4000$. If Btc will not recover soon from current price to above of 5000$ we can it will hit again to 3884 even less. I can not understand actually what are happening with markets.😥   

Everything is obvious. All markets are in recession, and the cryptocurrency market is with them.

If prices fall, large market makers sell their assets, then they believe that it is more profitable for them than trying to keep the price at a level,
because in the end, in a panic, they will sell bitcoin in the first place turn to save the value of other assets.

Can't agree with that, if crypto is with them, so crypto should drop easily because we are connected with the stocks.

I guess what is happening right now will explain that crypto are not correlated with stocks, we have some good uptrend today, and that's the beauty of crypto as it rises even when there is a global crisis.

[Bezobraznike]

Price is dumping again and now BTC is trading around 4800$. It’s very possible to hit again below 4000$. If Btc will not recover soon from current price to above of 5000$ we can it will hit again to 3884 even less. I can not understand actually what are happening with markets.😥   

Everything is obvious. All markets are in recession, and the cryptocurrency market is with them.

If prices fall, large market makers sell their assets, then they believe that it is more profitable for them than trying to keep the price at a level,
because in the end, in a panic, they will sell bitcoin in the first place turn to save the value of other assets.

Can't agree with that, if crypto is with them, so crypto should drop easily because we are connected with the stocks.

I guess what is happening right now will explain that crypto are not correlated with stocks, we have some good uptrend today, and that's the beauty of crypto as it rises even when there is a global crisis.

   Botnake you have a point, crisis is everywhere but crypto-currencies gained few points in the last couple of days. People make connections
between stock-market and crypto-market, I believe that people sell one to buy other, and otherwise, money is flowing from one to other and
that is normal. We all read here buy the bottom, someone need to sell something in order to buy something else.
   Bitcoin is holding the level over $6k, can this be a new bottom?

[sana54210]

Not for too long, not ever again. People think that hitting a price is a very important issue but the real deal is staying there that hurts everything. For example if we hit 3884 again for a day like we did for a while a week or so ago (more like two weeks ago by now) that didn't meant anything honestly, price shoot right back above 5k, which means that dropping under 4k was for nothing and didn't mean anything. So, what we should be focusing on right now is not actually "not dropping", we can drop, that happens, we can't stop it.

What we should focus on right now is going back up when we drop, as long as we go back up after we drop that will tell people that bitcoin price will go up no matter what and that is how we can survive. If we can manage that, it will eventually stop happening as well.

[gentlemand]

This is revealing - https://blog.coinbase.com/on-crypto-markets-and-bitcoins-value-proposition-2fbbca5349dd

"In the 48 hours during and immediately following the drop, we saw record-breaking numbers compared to our last 12-month averages:
5x increase in cash and crypto deposits, totalling $1.3B
2x increase in new-user signups
3x increase in trading users
6x increase in total traded volume
But beyond just a rush, two things are clear: customers of our retail brokerage were buyers during the drop, and Bitcoin was the clear favorite. Our customers typically buy 60% more than they sell but during the crash this jumped to 67%, taking advantage of market troughs and representing strong demand for crypto assets even during extreme volatility."

Those numbers are outrageous and it points to that plunge being a once every few years occurrence. It could of course get back there again after months of boring falls which would be a lot less fun but the prospect of falling through the floor that way again looks remote.

[Slow death]

the price will not fall below $4000, just look that it has stabilized above $6000 and it does not seem to me to fall below $6000 at that moment, maybe it is because people have become accustomed to what is happening in the world and then doing analysis for what will be after this great disaster that the world is living. I think we can say that it won't be this time that some people who always want to see the price drop below $3000  will get their predictions right

[Japinat]

Those numbers are outrageous and it points to that plunge being a once every few years occurrence. It could of course get back there again after months of boring falls which would be a lot less fun but the prospect of falling through the floor that way again looks remote.

It could happen though as anything is possible in crypto, whales are just looking for the right opportunity, and if it dump then they'll start making money again. That information you've share is pretty amazing, it only tells that there's a lot of money here in crypto and it will not die, and every time it will dump it could easy bounce back with people pumping it every time it will happen.