Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: dragononcrypto on November 23, 2018, 05:00:13 PM
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(https://i.imgur.com/Ey9xy0H.png) (https://twitter.com/ToneVays/status/1065843921119399938)
With Bitcoin losing 35% of it's value this month, making it one of the worst months in BTC history, has BTC found a bottom, even if temporary, at $4,000? After twice defending this level on November 20th and again today on November 23rd, a few interesting factors to point out, hinting towards a bullish reversal:
- There is a bullish divergence on RSI of smaller time-frames as well as MACD bullish crossovers on hourly timeframes
- Tone Vays (http://www.youtube.com/channel/UCbiWJYRg8luWHnmNkJRZEnw)(notorious bear who called for drop below $6k) is now short-term bullish and currently betting that the price will bounce back
- A double bottom is currently forming on the daily charts, as reported here (https://www.coindesk.com/bitcoin-price-eyes-double-bottom-reversal-after-4k-defensebitcoin-price-eyes-recovery-after-defense-of-long-term-support).
(https://www.coindesk.com/wp-content/uploads/2018/11/download-14.png) (https://www.coindesk.com/bitcoin-price-eyes-double-bottom-reversal-after-4k-defensebitcoin-price-eyes-recovery-after-defense-of-long-term-support)
- Repeated defense of the 200-week EMA likely indicates seller exhaustion.
- A break above $4,635 would confirm a double-bottom breakout on the 4-hour chart and could yield a stronger recovery rally to $5,100.
- A weekly close on Sunday (UTC time) below the 200-week EMA of $4,182 could prove costly, as the next major support is located directly at $3,100 (200-week simple moving average).
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I think it may fall a little below $4k, but are am thinking it will moon from next year in 2019, I am not too certain about this year again.
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sorry, I have no opinion about this. not only bitcoin , but also ethereum dropped dramatically.
I don't know, bch hardfork and xlm blockchain airdrop, might be the factor or not.
for today I may focus on stellar project.
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I really have no idea of what will be next bottom but I'm quite confident that this is not the end for crypto and BITCOIN and in next 2 years crypto will rise again and will hit their maximum prices again!
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I do not think so. I believe it is still going to fall lower than this. The situation is yet to stabilize and until it does, the price will continue to tank.
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I don't know when bitcoin and other altcoins will grow at prices above 6000 $. Maybe this week until the end of the year the price of Bitcoin will drop below 4000 $. That's where traders buy Bitcoin below the price of 4000 $.
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Now there is a problem with the definition of the bottom, which cannot be determined by no one due to the lack of fundamental connections. In such "blind" cases, it remains to rely on your own intuition and historical levels, which remain the only guide of all possible. The bottom will be at around 1500
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Now there is a problem with the definition of the bottom, which cannot be determined by no one due to the lack of fundamental connections. In such "blind" cases, it remains to rely on your own intuition and historical levels, which remain the only guide of all possible. The bottom will be at around 1500
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I am only praying that this should be the lowest bottom of Bitcoin, atleast let's get the moon on a while we plan to go there.
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It is still quite difficult to say whether the cryptocurrency has reached the bottom in its fall. Predicted that Bitcoin will fall to $ 1,500. It takes a little more time to watch the market. A month ago, we were confident that Bitcoin and another cryptocurrency in these past two months should rise in price, and not fall.
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It is surprising to see some people stated the bottom will be around $1,500. It is very extreme prediction. If it happens, I think it will be hard to rise again at $10,000 or more in the next year. For me, the most likely number for the bottom is about $3,000 - $3,500. However, I hope the reduction will stop at $4,000.
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I really don't know what will be on the next basis but I am pretty sure that this is not the end of crypto and bitcoin because the following year crypto will definitely rise again and will reach the maximum price again!
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Let everyone of us wish and hope it has because the downtrend is discouraging to all Cryptocurrency investors. At least let's seen some bullish move.
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Greed is canker worm that has devoured deep into the materials of traders United Nations agency do not use cash management methodology.This set of greedy traders haven't got a particular exit pojnt, that means once they see a resistance index number has been broken,they keep there thinking the worth can keep it up going upward.Sometimes ,the price can fall to the extent of liqudating their capital.
Greedy traders haven't any mercantilism set up they develop coupled with exploitation one.For example ,profeessional traders have entry and exit index number,and once the worth reaches their set target they exit the market.Some traders employing a terribly high leverage got their fund liquidated as results of their greediness.To make the matter worse,they dont analysis to determine the explanation a coin is moving upward .
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I just voted "I have no idea anymore" ;D
I sure hope bitcoin has found the bottom at $4K level. We can look at all these technical analysis all day but, at the moment, it is really hard to make any prediction. Many thought it will never go below $5K before but look at where we are now.
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it can happen when bitcoin has bad news circulating that makes bitcoin worthless again so the price of bitcoin will be easy to collapse to under $ 4k and it looks like it is terrible because it will certainly hurt many people.
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I just voted "I have no idea anymore" ;D
I sure hope bitcoin has found the bottom at $4K level. We can look at all these technical analysis all day but, at the moment, it is really hard to make any prediction. Many thought it will never go below $5K before but look at where we are now.
I feel a lot of people don't know anymore, but this is expected. Most professional analysts had no idea in the first place, because you can never predict the long-term outcome, only place probability on short-term outcomes. Why so many analysts were bullish in the middle of a 9-month bear market at $6k is beyond me. It also mislead lots of people to believe the year would end on a high, which it almost certainly won't, hence the panic selling from $6k imo.
That said, it's overall a positive sentiment that people are more neutral or bearish now, or at least don't believe in a bull market in the near future. To me this means we can bottom out sooner, as people will be investing for the right reasons, not as speculators looking to make a quick buck.
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We could see $3k even, no one can be able to say if it's bottom low or not
I for one is even confused by the current Bitcoin price and e: even that of altcoins.
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I think that till the end of this year it will become about 3k$ and from the beginning of the next year it will start recovering.
The second thing I'm almost sure in is that after recovery it will not beat 5k$ and will stuck on this mark for a very long time.
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(https://i.imgur.com/Ey9xy0H.png) (https://twitter.com/ToneVays/status/1065843921119399938)
With Bitcoin losing 35% of it's value this month, making it one of the worst months in BTC history, has BTC found a bottom, even if temporary, at $4,000? After twice defending this level on November 20th and again today on November 23rd, a few interesting factors to point out, hinting towards a bullish reversal:
- There is a bullish divergence on RSI of smaller time-frames as well as MACD bullish crossovers on hourly timeframes
- Tone Vays (http://www.youtube.com/channel/UCbiWJYRg8luWHnmNkJRZEnw)(notorious bear who called for drop below $6k) is now short-term bullish and currently betting that the price will bounce back
- A double bottom is currently forming on the daily charts, as reported here (https://www.coindesk.com/bitcoin-price-eyes-double-bottom-reversal-after-4k-defensebitcoin-price-eyes-recovery-after-defense-of-long-term-support).
(https://www.coindesk.com/wp-content/uploads/2018/11/download-14.png) (https://www.coindesk.com/bitcoin-price-eyes-double-bottom-reversal-after-4k-defensebitcoin-price-eyes-recovery-after-defense-of-long-term-support)
- Repeated defense of the 200-week EMA likely indicates seller exhaustion.
- A break above $4,635 would confirm a double-bottom breakout on the 4-hour chart and could yield a stronger recovery rally to $5,100.
- A weekly close on Sunday (UTC time) below the 200-week EMA of $4,182 could prove costly, as the next major support is located directly at $3,100 (200-week simple moving average).
It will continue to fall into 3K but its a good chance to new comers to buy and ride this bearish sentiment before the price was shooting up again.
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(https://i.imgur.com/Ey9xy0H.png) (https://twitter.com/ToneVays/status/1065843921119399938)
With Bitcoin losing 35% of it's value this month, making it one of the worst months in BTC history, has BTC found a bottom, even if temporary, at $4,000? After twice defending this level on November 20th and again today on November 23rd, a few interesting factors to point out, hinting towards a bullish reversal:
- There is a bullish divergence on RSI of smaller time-frames as well as MACD bullish crossovers on hourly timeframes
- Tone Vays (http://www.youtube.com/channel/UCbiWJYRg8luWHnmNkJRZEnw)(notorious bear who called for drop below $6k) is now short-term bullish and currently betting that the price will bounce back
- A double bottom is currently forming on the daily charts, as reported here (https://www.coindesk.com/bitcoin-price-eyes-double-bottom-reversal-after-4k-defensebitcoin-price-eyes-recovery-after-defense-of-long-term-support).
(https://www.coindesk.com/wp-content/uploads/2018/11/download-14.png) (https://www.coindesk.com/bitcoin-price-eyes-double-bottom-reversal-after-4k-defensebitcoin-price-eyes-recovery-after-defense-of-long-term-support)
- Repeated defense of the 200-week EMA likely indicates seller exhaustion.
- A break above $4,635 would confirm a double-bottom breakout on the 4-hour chart and could yield a stronger recovery rally to $5,100.
- A weekly close on Sunday (UTC time) below the 200-week EMA of $4,182 could prove costly, as the next major support is located directly at $3,100 (200-week simple moving average).
It will continue to fall into 3K but its a good chance to new comers to buy and ride this bearish sentiment before the price was shooting up again.
You've mentioned a good point, but the thing is that people lose their beliefs in btc. Big investments will change the situation for better and maybe it was a plan of crypto whales in order to gain more investors.. I don't know..
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The price of bitcoin fell to a level of more than $ 3,700, but the second day, as its decline stopped and even a certain increase in its price was observed. However, it is still difficult to say whether we have reached the bottom of the price. We need to see how Bitcoin will behave further. It is still possible its further decline, but a significant increase until we can hardly see.
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The price of bitcoin fell to a level of more than $ 3,700, but the second day, as its decline stopped and even a certain increase in its price was observed. However, it is still difficult to say whether we have reached the bottom of the price. We need to see how Bitcoin will behave further. It is still possible its further decline, but a significant increase until we can hardly see.
It has now breached $4k on USD exchanges, as well as on CMC I just noticed. Not sure if this is a bullish sign, but it's a relief that there are still buyers left in the market!