Is Bitcoin creating panic again?

[Lasky366]

As you can see BTC Doesn't Looks good at all as of noey ! Loosing momentum, Strong Resistance ahead, Hidden Bearish Divergence all are Indicating that we may see a Significant drop in upcoming days !

Only hope for Bulls is that they Make a Strange moves and Anyhow Breaks and Fixes above 7500$. Below that Mark, it's Better to stay out of this Asset !

Important Levels to Watch here is : 6500$, 6200$, 5800$

Let's see how it goes.

[mahilchii]

I hope you would heard the news of crude oil which went down below $0 is a massive shock to everyone, right now the market is very strange not only the crypto other stuffs as well.

The key resistance might be below 6k and I believe it will not go down like that. However it's better to have some patience till halving atleast, let's wait and see how it goes at that time.

[Plaguedeath]

-snip-

The price is still normal and stable till now, The worst price of bitcoin in the past 3 month is $4,612 on 16 march 2020. If the price not hit $5000, we should not panic about it.

You can also sell your bitcoin if you want.

[hugeblack]

The whole world is going through "uncertainty," so even if we are at strong resistance levels, we are still in the process of a health crisis that has not ended and we cannot determine market trends.
The price range at $ 6,000 appears to be a strong barrier forcing the price to bounce back to $ 7000 levels once it reaches, but the persistence of not breaking $ 7600 might cause the price to bounce back below $ 6,500. So everything is possible

[jackg]

The price range at $ 6,000 appears to be a strong barrier forcing the price to bounce back to $ 7000 levels once it reaches, but the persistence of not breaking $ 7600 might cause the price to bounce back below $ 6,500. So everything is possible

The majority of medium intelligence investors (ones who have been here a long time but also haven't much of a trading background) seem pessamistic this time and even though exchanges have been pushing the idea that the halving is going to happen soon and have been giving reports, I'm not sure if the mainstream media have covered it much... If any of them consider it significant and do cover it then that might attract people to look at it more and invest and cause a nice little rally up before we see a large fall down later on (probably around august if we last that long) - I don't expect us to pass $8-10k realistically but we might see some stability and a comfortable/slow decline thereafter.

[mindrust]

Nothing new.

It is always panic mode with bitcoin. It doesn't matter which direction it goes. No matter what it does it creates panic. When it goes down it is panic for the bulls, when it goes up the bears aint happy.

That's how volatility works and bitcoin is super volatile.

After I ve seen  all that shit through the years I wouldn't be surprised if it goes to $2k or $50k next week.

[ScamViruS]

Bitcoin is still in a state where the right direction is not understood. As the world goes through panic, it's hard to predict anything here. We saw yesterday oil historic dump, if it’s also create panic on crypto then bitcoin can dump. Your analysis seemed right to me. But this is Bitcoin and you know how volatile the Bitcoin market is. So I think now we should wait for the next move.

[Stedsm]

I think we are taking this speculation thing so seriously that we've all been trying to become professional analysts, but the truth is, nobody can predict the exact time as to when may we see a pump or a drop. Yes, I am in favor of a drop because I'd like to earn more through my campaign as well as bring in some investors into crypto. I'm showing them a price tag of $6.8k, nobody's interested, I'll show them a $2.5k BTC and convince them that it'll revert back to its older levels like ATH and all, and make them buy their first ever BTC for under $3k and I'm seeing large possibilities of BTC taking a big dip before consolidating back very hard.

[carlfebz2]

Nothing new.

It is always panic mode with bitcoin. It doesn't matter which direction it goes. No matter what it does it creates panic. When it goes down it is panic for the bulls, when it goes up the bears aint happy.

That's how volatility works and bitcoin is super volatile.

After I ve seen  all that shit through the years I wouldn't be surprised if it goes to $2k or $50k next week.

People should really think up this way because this hasnt been a rare thing to happen with bitcoins price.We can either see a strong resistance or weak supports, it depends yet the market had been always unpredictable since from the start.Even we are on a tough situation or in an ordinary day it doesnt really differ that much. Creating a panic again? Im not a TA guy thats why i dont easily react on these kind of sentiments.
Basing on the image in talks of those supports then it isnt impossible to break those on least expected manner. 

[bitgolden]

For those traders who are confident about things to be changing around bitcoin halving, these small pull backs will not get any panic.
Last week completely bitcoin remained stronger and as expected it closed the week above $7000 levels which must be opening doors for testing next resistance levels around $7900 but suddenly this week started in bearish mood. Only after sustaining above $7200 may restore our faith again.

I guess bitcoin may not keep breaking supports below $6760 levels but may turn bullish from the current levels but all are purely depending on how countries deal with covid19 outbreak. If people start feeling safer against the pandemic then we can have another wonderful April within remaining 9 days.

[dothebeats]

Attempts to breach $7300 have been made today and apparently all of those were slammed hard. Strong resistance levels remain to be camped @ $6500, though I am not sure as to whether it can hold any further or no as we remain to be in the realm of economic uncertainty on all fronts. There are rumors that billions of dollars in stablecoins would be poured into bitcoin in the nearest future, although again it would be difficult to bank on these 'reports' unless it actually happens. And even if the said amount were to enter the market, I don't think its effects would be substantially felt by everyone knowing how $3B is a small drop in the ocean for bitcoin and other cryptocurrencies.

[Gozie51]

I guess bitcoin may not keep breaking supports below $6760 levels but may turn bullish from the current levels but all are purely depending on how countries deal with covid19 outbreak. If people start feeling safer against the pandemic then we can have another wonderful April within remaining 9 days.

The 9 days remaining is going to bring us to the halving season. I'm thinking that the bull might come along this season instead of the bear prediction going on lately. Bitcoin has not performed short since the health challenge of the world.

[Stedsm]

I guess bitcoin may not keep breaking supports below $6760 levels but may turn bullish from the current levels but all are purely depending on how countries deal with covid19 outbreak. If people start feeling safer against the pandemic then we can have another wonderful April within remaining 9 days.

The 9 days remaining is going to bring us to the halving season. I'm thinking that the bull might come along this season instead of the bear prediction going on lately. Bitcoin has not performed short since the health challenge of the world.

The Golden Cross indicates a very different story that a bottom is nearing soon and may take place "after" the halving and not before, so even if it pumps up, you may be trapped before a lot of fluctuations take place in the markets as bears will open up their shorting guns and shoot hard so to liquidate the longs (who will take place near halving and even post halving thinking that this will only increase in the price).

[Kelvinid]

We all have this kind of uncertainty as to the pandemic still on going and the whole world suffered a huge economic loss. We thought that crypto isn't affected by the current stock market drop but unfortunately, we get into trouble and many people will think negatively about this. This panic will rose back again as the market tends to drop once again. We can't leave this feeling and keep hiding because this is a common instinct of most individuals and they will sell their Bitcoin in order to save from losing.

[Oasisman]

Nothing to worry about, the price ain't showing any signs of obvious significant drops, instead its bouncing back and forth from above $6,500 to below $7,500 level, which means crypto doesn't want to become very affected by the health crisis.
Although what keeps holding back for Bitcoin to fall below support level is the fact that people are still optimistic about the halving, but It's also very obvious that the crypto space lacks more investors to force an upward trend.

[sunsilk]

You can stay out of bitcoin already if you want to. Such TAs are helpful to give warning and help you decide what you want to do before the drop happens. But that doesn't mean that it will like that forever, if there's a downtrend, then there's the opposite too.

No need to panic and I won't get out of it. The drop recently is fine and acceptable and we even had the baddest day for this year so far when it went under the radar of $5000.

[Janation]

What is new, by the way?

Bitcoin is known for its volatility and the panic is not being created by Bitcoin but the investors or traders itself not used to the quick movements of the price. I am not really worried about the price changes nowadays as some people sold their BTCs for their needs this ECQ and I know that despite the lowest price it will dump, it will always go back up.

[adaseb]

Here is the issue with your charts. The first support was already tested and created a wick and went up from there. So most likely it won't provide support again a 3rd time. And when the first support fails, most likely the remainder 2 won't hold either. This is generally what I found when trading bitcoin from the last couple of years. Whenever there is some obvious support level, it usually never holds. It either comes close to the level, doesn't touch and start to go up from there. Or it just breaks the level completely.

I still think that level where we had the massive crash which was around $8K or so will be a huge supply level. Most likely we will retest this level eventually and we will see how it will react to it. However I think its mostly up to the equity markets. Whether they rally or not. What is going on with the oil markets is not helping the equities and it also isn't helping the crypto markets. And this coronovirus is showing no signs of slowing down or flattening the curve at all.

[Dart18]

Still looking good in my eyes.

6.800+ is not a bad number. Even if it goes down to 6,500 it is still not that bad.
It gained a lot from dropping below 5k mark just last month.
Just how much percentage is that.
The thing is, we got so used to large numbers last year. Maybe it's time to swallow the truth.

[Ozero]

We all have this kind of uncertainty as to the pandemic still on going and the whole world suffered a huge economic loss. We thought that crypto isn't affected by the current stock market drop but unfortunately, we get into trouble and many people will think negatively about this. This panic will rose back again as the market tends to drop once again. We can't leave this feeling and keep hiding because this is a common instinct of most individuals and they will sell their Bitcoin in order to save from losing.

The current uncertainty of the situation is that we do not know whether people have enough free money to survive the time of the quarantine that is now continuing. If this money is not enough, then people will again be forced to sell their cryptocurrency and prices in the cryptocurrency market will again slowly fall, or at least generally stand still. We really need to observe the market for now, because now the situation is unpredictable.