One more leg down

[justdimin]

I believe that we should be profiting from the current situation because everyone is confused, and with DCA while going down, we could accumulate as much as we need to and whenever it goes up we could start selling little by little as soon as it hits the profit range and get ready for another fall.

Everyone also wants to profit from the leg down but it is not easy, it is still a risk looking like you are going to be trapped in there. Accumulation is what we desire but no certain way to get that to happen, now hodling the bear looks confusing like you don't know if the price keep crashing to down or if it is going for rise up soon.

I get, not many people believes that it will not recover quickly, but does anyone really believe that it will never recover? I do not think that anyone believes that at all. Which is a proof enough that it is not really doing any risk for you to just accumulate while it is going down. Should have bought it when itis 39k, and the more at 37k now, and if it goes to 35k buy more there, and keep buying it at all times.

We all know that it will be 40k+ it is not really a big risk, I am not saying that it is zero risks involved, but it is quite low risk and maybe this month or maybe next year however EVENTUALLY it will be 40k and we all know that.

[ajochems]

The bitcoin was sustained over a decade in the market.At the beginning bitcoin was not popular among the users.So at that time,huge people not brought this bitcoin.Then due to huge flexibility in the bitcoin,it reach good response.The key of success is the bitcoin send to another person will not disclosure.We don’t know whether the bitcoin send to whom or received from whom.

[darkangel11]

And so we got another leg down. Is that going to be the last one or a final capitulation down to 25k?

in this case the hedge is real estate. big profits and gains here in usa.

In Europe the mortgage rates went so high they doubled in many countries, so those who bought real estate on credit got mangled by the system and spew out. Same if you tried to build a house and found out in the middle of doing it that materials went up by 100%.

As for the similarities after each bull run, I would say that there are similarities that are manifested by a certain percentage of correction, and then over time a certain stability in price as is the case right now. I remember 2015 when the price slipped even below $200 (before that $1100), as well as 2018 when we slipped down to $3000 (before that $20 000).

I don't like comparing charts with 2014 and 15 because that was a time of very low liquidity and the time when we lost the biggest exchange in the space and also a time when China banned bitcoin for the first time. A lot of negative press and little adoption to keep the price up.

In 2018 the stable fair value was 5-6k. The fall to 3k for me was an unexpected deviation that's why we came back from it that fast and kept holding between 5k and 10k for another year. I feel like 30k is the 2018 6k. If we ever go below it's going to be a month or less and we'll be back at 30.

We all know that it will be 40k+ it is not really a big risk, I am not saying that it is zero risks involved, but it is quite low risk and maybe this month or maybe next year however EVENTUALLY it will be 40k and we all know that.

It will be 40k again that I'm sure of but how long are we going to have to wait for it. If you bought at 40 and are now going to have your funds locked for a year it's going to suck for you.

[sana54210]

We all know that it will be 40k+ it is not really a big risk, I am not saying that it is zero risks involved, but it is quite low risk and maybe this month or maybe next year however EVENTUALLY it will be 40k and we all know that.

It will be 40k again that I'm sure of but how long are we going to have to wait for it. If you bought at 40 and are now going to have your funds locked for a year it's going to suck for you.

I wouldn't know, but this one more leg down thingy seems to be wrong whenever people said it in the past month. It was one leg down when we moved from 48k to 40k, then another down when we reached under 48k, and then another one when we reached 35k, then another when we reached around 33k, and now another one down.

I mean I wouldn't know if we will be 25k, or 20k or stay at 30k and go up from there, or whatever else happens in the future. If I had 100% sure way of knowing what will happen, I would just open a 150x leverage position and get rich very quickly. However, I can 100% guaranteed say that these "experts" have no idea what's going on.

[STT]

Here is a chart of every week this year and last year.   We are at the bottom pricing for whole range of prices.   It does seem possible to be some area of resistance that can lead to a recovery but also theres no rule that further pressure does not cause great movement outside these boundaries.


So I marked out two highlighted lines, only the upper of the two lines holding as support is going to convince me we are in with a chance of moving back to the prior pricing.  Perhaps we can check the 39k area even if we do fail that and then move lower.

[darkangel11]

We all know that it will be 40k+ it is not really a big risk, I am not saying that it is zero risks involved, but it is quite low risk and maybe this month or maybe next year however EVENTUALLY it will be 40k and we all know that.

It will be 40k again that I'm sure of but how long are we going to have to wait for it. If you bought at 40 and are now going to have your funds locked for a year it's going to suck for you.

I wouldn't know, but this one more leg down thingy seems to be wrong whenever people said it in the past month. It was one leg down when we moved from 48k to 40k, then another down when we reached under 48k, and then another one when we reached 35k, then another when we reached around 33k, and now another one down.

I mean I wouldn't know if we will be 25k, or 20k or stay at 30k and go up from there, or whatever else happens in the future. If I had 100% sure way of knowing what will happen, I would just open a 150x leverage position and get rich very quickly. However, I can 100% guaranteed say that these "experts" have no idea what's going on.

I agree that there's more legs down than they usually predict, but they really like this term. Some say another "capitulation candle" some say another leg down" some say another breakdown, or another red candle. Now there are also people who say we could have another one to 23k and then someone will come and say there's room for another one below that...
Just the way these people operate. We were supposed to go to 30k in 2017. Tom Lee was calling for it. We were supposed to go to 1k in 2019 according to many youtubers. We were supposed to go to 100k last year and we are supposed to go to 20k this year. These are the same ouija board predictions.

[Baofeng]

It's interesting to note though how many red candles we have seen in the past weeks? Is it 7 or 8? lost count already, but one thing is for sure, we are still not even half of the year and we have seen the price going below $30k. It this pattern continues, we might see another leg down or capitulation before the end of the year and it might not be really good.

[Franctoshi]

I find this to be stupid.

What do you think? Is "another leg down" starting to get old?

Op,  I don't think they're stupid , it's called speculation everyone is entitled to their opinion on any given subject matter.
When it comes to the money market , trading and investment anything is possible.
Question......
Would you foretell we would have gotten to $24k ?, looking at how everyone was saying that 30k would be buttom for BTC.
This is why I say that the market is reactive and not predictive , change with the current changing market conditions.

[kotajikikox]

I believe that we should be profiting from the current situation because everyone is confused, and with DCA while going down, we could accumulate as much as we need to and whenever it goes up we could start selling little by little as soon as it hits the profit range and get ready for another fall.

Everyone also wants to profit from the leg down but it is not easy, it is still a risk looking like you are going to be trapped in there. Accumulation is what we desire but no certain way to get that to happen, now hodling the bear looks confusing like you don't know if the price keep crashing to down or if it is going for rise up soon.

you will never get trapped if you are investing the funds that you can afford to wait for long term because we knew that bitcoin always recovered though sometimes this took months or even Year.
bear is not always bringing sadness because there are many here that wanted this to come for their accumulating more and more cryptos.
so best to know what you are doing and never just let your intention fails because of dumping market, be ready for what to come.

[bitterguy28]

I find this to be stupid.

What do you think? Is "another leg down" starting to get old?

Op,  I don't think they're stupid , it's called speculation everyone is entitled to their opinion on any given subject matter.
When it comes to the money market , trading and investment anything is possible.

and that is what most people here must understand because if you will not pay attention to others opinion then what is the sense of being here in this forum ? because this is for sharing and this is for exchanging beliefs and Idea for us all to gain profit un our investing.

Question......
Would you foretell we would have gotten to $24k ?, looking at how everyone was saying that 30k would be buttom for BTC.
This is why I say that the market is reactive and not predictive , change with the current changing market conditions.

who can tell? what i understand is when the price drops that Low meaning we need to buy more , but if the price climb high then better to sell , so that is scenarios we must understand .

[TheGreatPython]

you will never get trapped if you are investing the funds that you can afford to wait for long term because we knew that bitcoin always recovered though sometimes this took months or even Year.
bear is not always bringing sadness because there are many here that wanted this to come for their accumulating more and more cryptos.
so best to know what you are doing and never just let your intention fails because of dumping market, be ready for what to come.

Those who feel that they are trapped usually bought at highs and then the price unexpectedly dips and stays there for a while. Buying at highs is not a problem as long as we can be able to hodl and wait for the price exceeds our buying point. Bear can bring sadness for those who only want bulls and maybe they miss every bull that comes because they are greedy and want more price increases before they sell their coins.

It is not bad to sell as long as you know that you can earn some profit already. Maybe there is one more leg down before we finally see this market rise consistently but it's fine if there were more leg downs to come.

[STT]

We can break up from recent sideways action if BTC proves itself above the slight decline we've had recently in price.   The lowest prices have resembled a flat base but the highest prices have declined a bit , if that decline should be broken then I presume some relief rally upwards occurs and so greater aspirations still further.
  Highest price 7 days ago was 30666, really quite a close target.  Trade above that, hold for a day and see if it develops at all.   These last 3 daily bars have been green hence I watch this further as a counter trend.

[Fundamentals Of]

Technical analyses are always guesses. I notice that there are technical analysts, so many of them in fact, whose optimism always prevails no matter the market. I don't know though if they are really optimistic or they're simply creating hype or FOMO. It is very possible they're simply trying to make people calm, continue to hodl, or even buy in the middle of the bear market. It's always like this with a lot of people. They're always bullish. They always see good things in the charts.

[Dhaniii]

all of that cannot be separated from mere predictions and the possibility that it could happen as they have analyzed. but the reality is not as imagined by them so that their analysis is considered a failure. but I think bitcoin will continue to stay above $30k, won't drop below $30k so the opportunity to buy underfoot won't happen again.

[fortuner]

all of that cannot be separated from mere predictions and the possibility that it could happen as they have analyzed. but the reality is not as imagined by them so that their analysis is considered a failure. but I think bitcoin will continue to stay above $30k, won't drop below $30k so the opportunity to buy underfoot won't happen again.

But two days ago I still saw that the price of bitcoin was at $28 thousand and lasted for several days.
But now I see the price of bitcoin has gone up again to the price of $ 30 thousand and that is a sign that there will be another price increase in the next few days and of course it will happen.
For those who bought it yesterday for $28, they now have a profit of around 20%.

[peter0425]

all of that cannot be separated from mere predictions and the possibility that it could happen as they have analyzed. but the reality is not as imagined by them so that their analysis is considered a failure. but I think bitcoin will continue to stay above $30k, won't drop below $30k so the opportunity to buy underfoot won't happen again.

at least you  know what are you talking in this matter mate? bitcoin price had just grow to 30 today , but in the previous week the value is below 30k so what are you saying that the price will not drop below that level?

maybe in any minute now the bitcoin movement will again go sideways and we will be below that start again lol.

so better be ready or else you will be left behind longing for that high that won't come true .

[EdenHazard]

all of that cannot be separated from mere predictions and the possibility that it could happen as they have analyzed. but the reality is not as imagined by them so that their analysis is considered a failure. but I think bitcoin will continue to stay above $30k, won't drop below $30k so the opportunity to buy underfoot won't happen again.

at least you  know what are you talking in this matter mate? bitcoin price had just grow to 30 today , but in the previous week the value is below 30k so what are you saying that the price will not drop below that level?

maybe in any minute now the bitcoin movement will again go sideways and we will be below that start again lol.

so better be ready or else you will be left behind longing for that high that won't come true .

True.

We have been through 28k to 31k sideways for multiple times now ... and we might going for it once again in the next few days.
We won't surprised , we prepared.
Till there is a huge boost to jump or a huge scandal to drop bitcoin to the death... we are doing just fine at the current level .

[adaseb]

We got a nice rally today and most people are already calling the bottom. Many of the indicators do point to a bottom however it’s hard to tell if we are actually reversing or this is nothing but a dead cat bounce.

Most of the rally is due to China reopening with the stock leading the way. Stock market was closed today but futures were open and it had a huge rally day.

If we finish the week green then I can see further upside but if we finish bear then it’s nothing but a dead cat bounce.

[Dave1]

We got a nice rally today and most people are already calling the bottom. Many of the indicators do point to a bottom however it’s hard to tell if we are actually reversing or this is nothing but a dead cat bounce.

Hopefully it will not be the case though, but who knows, maybe at the end of the week, speculators are going to short bitcoin again.

Most of the rally is due to China reopening with the stock leading the way. Stock market was closed today but futures were open and it had a huge rally day.

China is really a big market, admit it or not, although bitcoin mining has shift somewhere else, Chinese still has a huge impact on the market.

If we finish the week green then I can see further upside but if we finish bear then it’s nothing but a dead cat bounce.

Right, if at least this week will be green candle, then we would have broken the record. If I'm not mistaken, it's about 9 week of having a red candle, not good indicator, although this could be expected in a bear market.

[STT]

Weekly bar is a pin seems very likely at present, like when you step on it not a nice thing to see on the chart for people hoping of an immediate rise.   Its a reversal but how important Im not sure yet, so long as we stay above 28200 roughly I think we are on repeat once again.  
  If we trade below 28k on multiple 4hr bars then I would guess we accelerate downwards properly rather then this quicksand we've been sinking in coming close to a month.  @34k is a declining 50 day average, soon it'll fill the sky overhead and crushing us towards a conclusion.   Recent highs was capped by monthly average