Quote from: dragonvslinux on October 01, 2019, 12:49:05 PM

Quote from: timerland on October 01, 2019, 12:36:54 PM

~snip~

There's a lot of TA out there suggesting a drop to between $5-6.8K with the possibility of $7K holding, this is probably why. Most people don't expect it to drop below $4.5K it seems as the 200 Week MA is there which supported us back at $3120. It still hasn't been broken and is continuing to trend upwards. $5K is clearly a number to rally behind for ₿ bulls basically. See here for examples of how Bitcoin could drop to $6875, $6410, $5,350 and $5,050, by extrapolating past price history to the current price.

Quote from: Oilacris on September 29, 2019, 09:34:14 PM

Show up some technicals on this one rather than saying without having any basis.I read up above theres no significant support on 5k levels.

Here's an example of what $5K could look like for you. Give it a couple of months and the 200 Week MA will be there to support the price.

Quote from: dragonvslinux on September 29, 2019, 11:47:30 AM

Basicly, according to this chart, bitcoin will go down to $5K as the bottom? a very convincing chart based on MA, 19bars-133 days, 17bars-119 days, 19bars-133 days, and next will be another 17bars-for 119 days until March 2020? Well, I don't buy it.
Bitcoin seems persistent above $8K, probably can drop to $7K or the worst at $6K but not at $5K.
Furthermore, we approach the end of the year, entering the Q4 which the market sentiment seems positive even at this bear market, Bitcoin may recover back to $10K by the ensd of this year. But, who knows, we'll see when the time comes.