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Author Topic: TA indicates a sharp drop soon  (Read 732 times)
coinfinger
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June 14, 2020, 06:10:50 PM
 #41

I would say this is just a quick chart that is for daily and if the drop would have happened it would have happened already. The price point of $9k to $9.5k is very strict and doesn't look like it will be moving anytime soon neither, I believe this is a very good period for bitcoin to break out. Look at the weak resistance as well, there is really no true wall in front of it neither, bitcoin could destroy everything in its path all the way to above $13k before it can face any challenge neither.

However all of these are analysis with regards to what we can see, this is bitcoin world and there are tons of stuff we can't see that is going on as well. That is why I believe we should focus on what could be going on that we can't see before we start discussing what will happen according to what we know.

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June 15, 2020, 04:08:37 AM
 #42

TA is for possible paths, better then being in the dark.     We dropped down but only within a range still, as we remain in the 9200 area I will have zero surprise if it repeats this all tommorow again rather then moving downwards from here



A close below 50 day is significant but Im waiting for it to pass 50 week as this has been the low on a larger time frame so often since March, but just that is a fair move down 8700 abouts now.   Its all tradable action.

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June 15, 2020, 05:12:11 AM
 #43

It looks like bitcoin has failed on so many occasions to breach 10k that a triple top could form both monthly and weekly!



I guess it depends on how much gas is left in the tank for these bulls, it might push upwards but the technical analysis doesn't look overly positive.

If history repeats itself from Feb, we will see a sharp drop as shown in this bearish chart (see link below). If 8k fails to hold then get your cash ready for the final chance to buy in! Grin
https://bitcointalk.org/index.php?topic=5254210.0

Dont worry because while your thread talks about Sharp drop other Post tells the opposite thing so let it happen because i am not affected because i can certainly Hold my Bitcoin even there is a big changes in price.

and besides Many people like me whos looking for a chance to Buy again then if this happen and likely to fall at 5k$ level?then i definitely get another portion to add in my holding.

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June 15, 2020, 10:16:00 AM
 #44

It looks like your prediction is right, Bitcoin fell to $ 9000 today,
how is the future? is it worth holding or do we have to sell it now?

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fabiorem
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June 15, 2020, 10:38:51 AM
 #45

Bitcoin is going to 5k, but it will be a slow descent, not a sharp, fast drop.
So you will have time to sell some.
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June 15, 2020, 11:22:21 AM
 #46

Bitcoin is going to 5k, but it will be a slow descent, not a sharp, fast drop.
So you will have time to sell some.

$500-$700 at end of 2020.
$12k-$15k at end of 2021.
$5k-$6k at end of 2025.
$0.85 march 2028.

Sorry, this is the truth. Bitcoin failed its purpose.

When will happen drop to $500? As usual your posts are completely pointless speculation without any basis, and no one should take them seriously. If you want to play Nostradamus I have advice for you, predict things at least 50-100 years in advance - so you won't have to be ashamed personally when they don't happen. Something has definitely failed in your case, but rest assured it’s not Bitcoin.

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June 15, 2020, 12:28:07 PM
Last edit: June 15, 2020, 01:06:51 PM by fabiorem
 #47

Bitcoin is going to 5k, but it will be a slow descent, not a sharp, fast drop.
So you will have time to sell some.

$500-$700 at end of 2020.
$12k-$15k at end of 2021.
$5k-$6k at end of 2025.
$0.85 march 2028.

Sorry, this is the truth. Bitcoin failed its purpose.

When will happen drop to $500? As usual your posts are completely pointless speculation without any basis, and no one should take them seriously. If you want to play Nostradamus I have advice for you, predict things at least 50-100 years in advance - so you won't have to be ashamed personally when they don't happen. Something has definitely failed in your case, but rest assured it’s not Bitcoin.


So pointless that you take the time to answer it.
This is the speculation forum. You either deal with it, or you ignore it.

All my predictions are based on market sentiment and general look over TA. Right now bitcoin is pointing to 5k. At the time of the outbreak, it was pointing to three digits. In fact, it would have reached zero if it wasnt for a hardware malfunction at Bitmex.



atleast we can still prepare for it  . prepare means convert now or spend now as long as btc  is still valueable and prepare some cash to for the future drop that will happen so that we can buy back again .


I would not go all-in into fiat. The bear market is still there, but it is old. A old market can die easily.
I prefer to sell 5% and stack the fiat into rebuying. This minimize any losses in case it recovers.

Also there is a untested support around 7k.
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June 15, 2020, 01:02:03 PM
 #48

It is always a shocking thing for me on seeing the speculation on down markets are working perfectly whereas bullish trend based speculations were proved wrong. I am just talking about the recent times but I kept ignoring all the speculations which talked about "possible drop" but they finally proved me wrong Sad.

Today bitcoin showed a sharp downfall it was recovering from day before yesterday's $9200. But right now it is trading around $9100 which may do anything from here like it go further to test $8600 levels of may keep sustaining around the current level and then may start climbing up slowly toward $10k level too. I am not seeing any major trigger for this fall other than few technical reports which showed about drop. I read US stocks are dumped but not sure how bitcoin investors got panic due to that.

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June 15, 2020, 03:07:06 PM
 #49

Bitcoin is going to 5k, but it will be a slow descent, not a sharp, fast drop.
So you will have time to sell some.

Still the descent isn't confirmed yet, we should at least see a couple of tries and if then also the price fails to rise more than $10,300 then we can get a confirmation that it is not going up. I will feel sad for the miners who are still holding on their bitcoins thinking that the price will increase after a few months of block reward halving and still the Price isn't going anywhere and still the same. If the bitcoins price drops now then we will see a lot of decline in the total network hashrate as a lot of mining operations will become unprofitable.

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ene1980
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June 15, 2020, 04:41:41 PM
 #50

I guess it depends on how much gas is left in the tank for these bulls, it might push upwards but the technical analysis doesn't look overly positive.

If history repeats itself from Feb, we will see a sharp drop as shown in this bearish chart (see link below). If 8k fails to hold then get your cash ready for the final chance to buy in! Grin
https://bitcointalk.org/index.php?topic=5254210.0
I will be looking forward to your TA indicators just to understand what is going on, i was expecting the market to go down as the price was not able to break the resistance for a long time and i was in two minds because there is always a possibility to breach the resistance when you least expect it but when it failed to breach again it went down but it is still holding above $9300, the next few days will determine in which direction the market goes.

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June 16, 2020, 10:09:11 AM
 #51

So pointless that you take the time to answer it.
This is the speculation forum. You either deal with it, or you ignore it.

All my predictions are based on market sentiment and general look over TA. Right now bitcoin is pointing to 5k. At the time of the outbreak, it was pointing to three digits. In fact, it would have reached zero if it wasnt for a hardware malfunction at Bitmex.

Speculation has nothing to do with the fact that you are on a mission to spread FUD on this forum. What analysis can predict that 1 BTC will be worth $0.85 in year 2028? It has nothing to do with any technical analysis or market sentiment, it’s just plain nonsense coming out of your mind.

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June 16, 2020, 02:00:54 PM
 #52

Speculation has nothing to do with the fact that you are on a mission to spread FUD on this forum. What analysis can predict that 1 BTC will be worth $0.85 in year 2028? It has nothing to do with any technical analysis or market sentiment, it’s just plain nonsense coming out of your mind.


Supply being captured by governments, through paper speculation and contracts, and then creating a global, centralized cryptocurrency to take its place.
The best way to deal with it is to regulate the exchanges through a non-governmental council, which would put circuit breakers in their books. This could be done through code as well.

The "fact" you are talking about is a factoid, created by a priest from the hodl cult, who dont want to see bitcoin being adopted by the people, but only used for speculation, and only for their whale peers. You can just put me on ignore, like I did with them.
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June 16, 2020, 02:08:54 PM
 #53

We can't see the real scenario that will happen in the next days but looking into the chart and watching closely from November 2018 to January this year, it most likely the same as what it happens from January to mid-March. I see that every 3 months gap the market drops and that could be possible this June.
Though the trend it looks the same but has to think also that a lot of factors could affect the market and that possible we can escape from the base of that expected drop on the previous performance.

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JimboToronto
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June 16, 2020, 02:17:38 PM
 #54

TA doesn't apply to Bitcoin.
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June 16, 2020, 03:26:44 PM
 #55

TA applies to every natural force in the universe, humans trade BTC so it applies.   Just dont call definites and we good.



Possible channel down, I think bearish is a reasonable consideration at this point.  Process not event
  Lower highs, bullish trends worn and passed, retested.   Only factor that doesnt really fit for greater negative is mostly rising moving averages.

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wozzek23
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June 16, 2020, 04:48:38 PM
 #56

Though the trend it looks the same but has to think also that a lot of factors could affect the market and that possible we can escape from the base of that expected drop on the previous performance.
Until bitcoin breaks $10500 and sustaining above there we cannot be confident about change of trend. But, today we experienced reversal of market as prices topped the weekly high. This could turn as a trap for bears to make them exiting at stop losses. I was expecting a short term bull back up to $9300 levels but surprisingly bitcoin peaked up to $9580 levels which shows the dominance of bulls even the overall trend is not favor to bulls.

TA doesn't apply to Bitcoin.
There cannot be no such commodity existing without compatible with technical analysis. There are occasions on which most commodities may trade by making technical analysis wrong but those are the occasion supported by strong news and government decisions.

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fabiorem
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June 16, 2020, 05:43:38 PM
 #57

TA applies to every natural force in the universe, humans trade BTC so it applies.   Just dont call definites and we good.



Possible channel down, I think bearish is a reasonable consideration at this point.  Process not event
  Lower highs, bullish trends worn and passed, retested.   Only factor that doesnt really fit for greater negative is mostly rising moving averages.


I think there is strong support in the $7k area. Unless there is manipulation, we are not going to see $5k.
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