Re: Bottom of BTC descending channel is 3000$?

Quote from: bohr on August 16, 2018, 10:24:55 PM

Quote from: Kavallo on August 11, 2018, 09:13:08 AM

While most of the analysts are letting their wishful thinking of a trend reversal influencing their analysis, this top analyst on Tradingview (MagicPoopCannon) has been predicting the current price action of BTC already several months ago and he is setting 3000$ as a logical bottom. Click on the link below to read his analysis and see his chart. What do you think about it?

https://www.tradingview.com/chart/BTCUSD/GLtEEYfz-The-Downtrend-Continues-BITCOIN-BTC-D/

I think that you are right when you say many people are letting their personal feelings interfere with their analysis, but a bottom of 3000 dollars? That is too low, we will need another panic to see that price and the question is what could cause that panic? Even if the SEC did not gave to us a positive outcome at worst we are going to see prices below 5500.

You are right a bottom of 3,000 dollars is too low, I think this price now at 6,000 dollars is already at the bottom(IMO) Grin

I saw right now the price of the bitcoin in the market starting pumping up, how much more if SEC will be approved ETF I'm sure the demand will less that make bitcoin will bounce back and ready to hit again the price of 20,000 dollars in the market.

But still, there are some panic sellers that make market worst through their weaknesses in holding coins.