Quote from: cellard on March 27, 2018, 03:12:26 PM

Quote from: Zubilica2 on March 27, 2018, 10:27:31 AM

Quote from: cellard on March 26, 2018, 02:36:48 PM

Still not a problem, start worrying when we cross this long term resistance line:

Until then, we are doing just fine and we are doing good as usual, not really a bear market, we just got out of hand with that massive 20k FOMO pump. Now it's time to accumulate as all the idiots get rekt, buy monthly, then come back in a year or two and you'll see how current prices are a bargain. Ideally, you want it to go under that line so idiots start thinking "Bitcoin is dead", which means Bitcoin is on a sale and it's the best possible scenario to accumulate.

So end of may price 7k , or less , start worrying ?

Yes, according to technical analysis, it would be around $7200, if that doesn't hold then we should fall, but remember that technical analysis isn't a science, it's just lines on a screen which others might or not follow.

A single tweet from a strong party could make the price moon and we would be above the resistance line again, shorts would get rekt in no time.

There are many other factors that may play which technical analysis do not take account for. Whales have a tremendous influence over the price and when a dump is made, it could easily make the price drop. The price may go down to $7K but with other factors to consider such as when positive news would come out resulting to higher demand then the price may get even higher than that. With all these factors, a technical analysis may help us be prepared or make predictions but it is not the sole determination of price.