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BTC has been rallying since the bottom at $6,600 is confirmed. Now that price has moved to above $7,300 with strong expansion in volumes, we may say that an effective counterattack has been initiated, making it mostly likely for bulls to challenge the resistance at $7,700 in the short term as price holds great chances to continue moving upwards.
If you take a close look at how price moves on daily chart you will find that a minor floor will be formed during a certain period, besides, price will continue dipping after rallying to the resistance provided by last floor whether rally receives support from volumes or not.
Thats the reason why I believe $7,700 will be the ceiling after price has been forming another floor in the past 4 sessions, now its easier to tell how BTC will move in the short term.
We believe price will correct higher to $7,700 to $8,000, selling on surges is recommended if the overall trend remains intact.
We may also say that bounces are the root cause for lengthening bear circle as price will continue dipping after every rally during overall downtrend.
Original by Kuang Ren, translated by AICoin Jami.
If you take a close look at how price moves on daily chart you will find that a minor floor will be formed during a certain period, besides, price will continue dipping after rallying to the resistance provided by last floor whether rally receives support from volumes or not.
Thats the reason why I believe $7,700 will be the ceiling after price has been forming another floor in the past 4 sessions, now its easier to tell how BTC will move in the short term.
We believe price will correct higher to $7,700 to $8,000, selling on surges is recommended if the overall trend remains intact.
We may also say that bounces are the root cause for lengthening bear circle as price will continue dipping after every rally during overall downtrend.
Original by Kuang Ren, translated by AICoin Jami.
every rebound is a good chance to get out off the train ,but i choose to stay ,becasue i am waiting foe the $100k .
Whoa, are you a rapper? There are still many difficulties that have considerably reduced the volume. We need positive news that re-establishes market confidence. But at the same time, the stock market is also facing problems. So everyone is looking for safe haven instead of big and risky returns.
Will people transfer their money to Cryptocurrency market as we know China is fighting back and trading war is really threatening.BTC fails to dip below $6,600 effectively, if youve learnt to use my theory of selling at breakthrough point, decent profits should be easy to make. Take a look at hourly chart:
BTC has been remaining supported at $6,600 in the past 3 sessions, volumes obviously shrink today, making the dip below $6,600 not an effective breakthrough, or we can say its fake.
Later, an upper shadow just brings price back above $6,600, bulls are temporarily guarding important levels and lack the momentum to initiate a reversal in trend as volumes remain low.
The minor bottom formed at $6,600 is expected to witness an oscillating rally, which is believed to lengthen the period of downtrend, if price manages to hold above it.
As mentioned in my previous analysis, strength of such rally will be limited, making it possible for price to remain above $6,600 in the past 3 sessions.
Volumes during current uptrend remain insufficient, indicating that the range of a short-term rally will be small.
$7,700 will be the ceiling for a rally as bullish momentum is limited and the overall downtrend remains intact, making it profitable for daily traders.
Original by Kuang Ren, translated and posted by AICoin Jami.
BTC has been remaining supported at $6,600 in the past 3 sessions, volumes obviously shrink today, making the dip below $6,600 not an effective breakthrough, or we can say its fake.
Later, an upper shadow just brings price back above $6,600, bulls are temporarily guarding important levels and lack the momentum to initiate a reversal in trend as volumes remain low.
The minor bottom formed at $6,600 is expected to witness an oscillating rally, which is believed to lengthen the period of downtrend, if price manages to hold above it.
As mentioned in my previous analysis, strength of such rally will be limited, making it possible for price to remain above $6,600 in the past 3 sessions.
Volumes during current uptrend remain insufficient, indicating that the range of a short-term rally will be small.
$7,700 will be the ceiling for a rally as bullish momentum is limited and the overall downtrend remains intact, making it profitable for daily traders.
Original by Kuang Ren, translated and posted by AICoin Jami.
BTC will continue dipping as rally lacks the support from volumes
Price still receives pressure from MA 5 on daily chart, though weve seen a minor rally on March 28, as mentioned in my previous analysis, BTC is expected to continue dipping as rally lacks the support from volumes.
The story repeats today, even if price has moved to the former strong support, bulls still show no intention for a counterattack, now its only a matter of time before price continues moving downwards.
Struggling around support seems to be meaningless as such pattern can be basically interpreted as a normal bounce. Overall, there isnt much room for us to operate.
The market wont recognize the price until bulls counterattack, light positions are still recommended. Besides, other major coins are correlated to BTC in price action.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/19176.html
The story repeats today, even if price has moved to the former strong support, bulls still show no intention for a counterattack, now its only a matter of time before price continues moving downwards.
Struggling around support seems to be meaningless as such pattern can be basically interpreted as a normal bounce. Overall, there isnt much room for us to operate.
The market wont recognize the price until bulls counterattack, light positions are still recommended. Besides, other major coins are correlated to BTC in price action.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/19176.html
Re: Where is the bottom for BTC price? 6K, 5K or even lower?
I think for the lowest it looks like $6k, and it will not be down till to $5k. Well, maybe because I'm still believe it will recover slowly. So many predictions are confusing me, which obviously I just remain optimistic and keep doing some things to earn some profit that's not just investing only.
I think the bottom will not go lower to $5k this time. Yes so many predictions but no one can gives an accurate price actually. However, the same I believe bitcoin price may slowly recovering in time and let's hope their is a good news that can lift up the price. Re: Where is the bottom for BTC price? 6K, 5K or even lower?
Now bitcoin more a little bit around $ 6,800 - $ 7,100. But now situation the price is drop, some investors is panic and sell their bitcoin.
I sure bitcoin not drop down below $ 6,000. Bitcoin price lower is not temporary it will rise and shine again in the future.
So the bottom bitcoin price for me is $ 6,000.
As you can see, price is getting close to 6K agian, will you buy in this time?I sure bitcoin not drop down below $ 6,000. Bitcoin price lower is not temporary it will rise and shine again in the future.
So the bottom bitcoin price for me is $ 6,000.
6K is just around the corner, will you buy in this time?
BTC experiences a volatile session as price surges at noon after slumping with expanding volumes in the early morning.
Though price gets really close to $6,000, weve seen no signs of dumping chips so far as indicated by price action on daily chart.
Even if bulls counterattack, rally remains weak as bears still dominate the market. Bottom cant be reached to for now even bulls manage to push price up.
Light or empty positions are still recommended.Volumes during current downtrend is clearly lower than that of last round, indicating that price will receive strong support from the major support at $6,000.
It takes time for the support at $6,000 to be digested, thus making it possible for another wave of rally to be initiated near $6K.
Daily traders is estimated to push price up before it falls to 6K, bounces caused by such behaviors are believed to be as weak as usual.
Thats why the target should be set at MA 5 for now. Price holds greater chances to initiate minor rallies in the next few hours, the overall downtrend remains unchanged.
Sorry but bear is still there.
Original by Kuang Ren, translated and posted by AICoin Jami.
Full-version: https://www.aicoin.net.cn/article/19096.html
Though price gets really close to $6,000, weve seen no signs of dumping chips so far as indicated by price action on daily chart.
Even if bulls counterattack, rally remains weak as bears still dominate the market. Bottom cant be reached to for now even bulls manage to push price up.
Light or empty positions are still recommended.Volumes during current downtrend is clearly lower than that of last round, indicating that price will receive strong support from the major support at $6,000.
It takes time for the support at $6,000 to be digested, thus making it possible for another wave of rally to be initiated near $6K.
Daily traders is estimated to push price up before it falls to 6K, bounces caused by such behaviors are believed to be as weak as usual.
Thats why the target should be set at MA 5 for now. Price holds greater chances to initiate minor rallies in the next few hours, the overall downtrend remains unchanged.
Sorry but bear is still there.
Original by Kuang Ren, translated and posted by AICoin Jami.
Full-version: https://www.aicoin.net.cn/article/19096.html
Re: Where is the bottom for BTC price? 6K, 5K or even lower?
wow, i had prepared for some bear power, but this was unexpected. okcoin quarterly futures just dropped to $4755! that's 31% lower than all the spot exchanges (even more at the extremes)....wtf happened?
i can't tell if a huge contract holder getting liquidated caused a cascade, or if something went very wrong with their order matching system. either way, the okex chart is completely rekt. what a shitty day....
It'll be rolled back. Check their Twitter here: https://support.okex.com/hc/en-us/articles/360002279012i can't tell if a huge contract holder getting liquidated caused a cascade, or if something went very wrong with their order matching system. either way, the okex chart is completely rekt. what a shitty day....
Re: Where is the bottom for BTC price? 6K, 5K or even lower?
The price of bitcoin I think can not be lower because currently no money source withdrawn from the market. Only bad news is fabricated and the market plummeted. I believe that bitcoin will soon increase in value. The support level of 6000 is very strong.
It may be just a matter of time before the support at 6K is digested. Panic chips need to be forced out by testing 5K, then it will fly to the moon.Re: Where is the bottom for BTC price? 6K, 5K or even lower?
No idea where the bottom is going to be in the future. It's way too hard to predict.
For now it's going to stay at the $6k bottom that was previously discovered by the dump back in January. As someone else said, that is the psychological bottom for now. If that psychological bottom doesn't hold up and there are more panic dumps in the short term, we could see BTC crash down to lower level like $5k, $4k.
Anyways, I doubt that we're nearing the bottom yet. It's going to come with cycles of recoveries and then more dumps, but the general trend is definitely bearish for now. It seems improbable that this trend would stop right now as well, it's much more likely we see it play out throughout the year, and potentially find a bottom at around low $3k's.
Personally, 3K is way too low, for those believing BTC, that price will sound like a free gift, some investors may want to sell their house to buy BTC instead.For now it's going to stay at the $6k bottom that was previously discovered by the dump back in January. As someone else said, that is the psychological bottom for now. If that psychological bottom doesn't hold up and there are more panic dumps in the short term, we could see BTC crash down to lower level like $5k, $4k.
Anyways, I doubt that we're nearing the bottom yet. It's going to come with cycles of recoveries and then more dumps, but the general trend is definitely bearish for now. It seems improbable that this trend would stop right now as well, it's much more likely we see it play out throughout the year, and potentially find a bottom at around low $3k's.
Re: Where is the bottom for BTC price? 6K, 5K or even lower?
We'll see sub $3k by mid year for sure
3 more months to go, we'll see by that time.Re: Where is the bottom for BTC price? 6K or 5K even lower?
it is impossible to tell. the bottom may be the current price or it may be a lot lower than this but one thing is for sure, and that is the fact that it was proven that no amount of technical analysis can ever work on bitcoin otherwise it wouldn't have fallen this low in first place since everything was pointing in other direction not so long ago and also other times they have been predicting a lot lower than bitcoin ever got!
Well, for short-term traders, I believe it's quite useful.Re: Where is the bottom for BTC price? 6K or 5K even lower?
If you look at the chart, then it's easy to see that the price target is the june/july level from last year, so about $2500
As we are loosing a couple of 100 USD each day now this is very much possible.
Re: Where is the bottom for BTC price? 6K or 5K even lower?
If you look at the chart, then it's easy to see that the price target is the june/july level from last year, so about $2500
You scaried me.Where is the bottom for BTC price? 6K, 5K or even lower?
Price dips again after testing MA 5 as weve also seen no support from volumes. Now that price chooses to keep going south, bearish sentiment will dominate for a bit longer.
As mentioned in my previous analysis, window for rallies will be opened every time price experiences a continuous slump, I believe were about to see another window very soon.
Besides, range for current downtrend is smaller than that of last round on daily chart, which also applies to range of rally, leading us to believe that if investors are becoming more and more cautious, a real bottom will be getting more and more closer.
I come to this conclusion based on the 3 reasons as below:
Firstly, both rallies and slumps are getting less positive, weve seen signs of bottom formation.
Secondly, lots of investors still believe price will slump to lower prices again, theyre waiting to buy in at $5,000, $4,000 even $3,000.
Lastly, volumes of OTC expand significantly, those possessing large quantities of BTC believe its favorable to collect chips at current level, psychological bottom of market is being built.
Therefore, downtrend will dominate the market in the short term, a minor rally is expected to be initiated if theres another major slump ahead, range, however, will remain small as its capped by MA 5 on the upside.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/18935.html
As mentioned in my previous analysis, window for rallies will be opened every time price experiences a continuous slump, I believe were about to see another window very soon.
Besides, range for current downtrend is smaller than that of last round on daily chart, which also applies to range of rally, leading us to believe that if investors are becoming more and more cautious, a real bottom will be getting more and more closer.
I come to this conclusion based on the 3 reasons as below:
Firstly, both rallies and slumps are getting less positive, weve seen signs of bottom formation.
Secondly, lots of investors still believe price will slump to lower prices again, theyre waiting to buy in at $5,000, $4,000 even $3,000.
Lastly, volumes of OTC expand significantly, those possessing large quantities of BTC believe its favorable to collect chips at current level, psychological bottom of market is being built.
Therefore, downtrend will dominate the market in the short term, a minor rally is expected to be initiated if theres another major slump ahead, range, however, will remain small as its capped by MA 5 on the upside.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/18935.html
Lower shadow on daily chart is swallowed because of the selling on dips at 7 am. BTC is expected to rally because of the strong support, it turns out that bears seize the very moment and initiate a precise strike at a key time point, making it extremely difficult for bulls to fight back.
Though price witnesses a minor rally on daily chart, volumes, however, remain low, indicating that bullish momentum will stay weak though price is near the strong support.
Also, weak rally means downtrend will dominate price action and price will move downwards along with MA5.
As marked on daily chart, every time BTC bounces without an expansion in volumes, it will keep dipping after that, making it wise to be cautious when price bounces under MA 5.
For long-term traders, positions can be set up from now.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/18795.html
Though price witnesses a minor rally on daily chart, volumes, however, remain low, indicating that bullish momentum will stay weak though price is near the strong support.
Also, weak rally means downtrend will dominate price action and price will move downwards along with MA5.
As marked on daily chart, every time BTC bounces without an expansion in volumes, it will keep dipping after that, making it wise to be cautious when price bounces under MA 5.
For long-term traders, positions can be set up from now.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/18795.html
Re: Bears still dominate the market, downtrend remains intact
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.
That's impresssive, thank you for your sharing.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.
Bears still dominate the market, downtrend remains intact
Minor attacks initiated by bears continue emerging on hourly chart, the market is dominated by bears as weve seen no resistance from bulls so far.
Some investors believe bull market is near the corner, but it doesnt make sense to me in logic. If price surges from here, main funds have no profits to make, as we all know, they will remain control over the market before they maximize their profits.
Volumes remain low on daily chart, indicating that even bears are not as determined as expected. Currently, price hovers around a short-term support, making it possible for price to continue oscillating move.
But if bulls remain silent and take no further actions, support will be digested and a major dip will take place after that.
Here comes the short-term conclusion, basically, price will keep oscillating, if BTC fails to surge after having been moving sideways for a long time, downtrend will be the main story.
Original by Kuang Ren, translated by AICoin Jami.
Some investors believe bull market is near the corner, but it doesnt make sense to me in logic. If price surges from here, main funds have no profits to make, as we all know, they will remain control over the market before they maximize their profits.
Volumes remain low on daily chart, indicating that even bears are not as determined as expected. Currently, price hovers around a short-term support, making it possible for price to continue oscillating move.
But if bulls remain silent and take no further actions, support will be digested and a major dip will take place after that.
Here comes the short-term conclusion, basically, price will keep oscillating, if BTC fails to surge after having been moving sideways for a long time, downtrend will be the main story.
Original by Kuang Ren, translated by AICoin Jami.
$9,500 remains the major resistance for further gains.
BTC has been hovering around $9,000 for a whole day, judgng by the volumes, however, BTC is believed to effectively break $9,000 and test $9,500.
Even if price manages to unlock the area above $9,500, BTC is more likely to correct lower after rally.
Short-term trend seems clear as BTC is believed to oscillate between $8,700 and $9,100 in the coming days with support at $8,700.
When correction is completed, price holds greater chances to keep moving up as strength from bears is weakening. Window for daily traders will be opened every time price corrects lower.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/18038.html
Even if price manages to unlock the area above $9,500, BTC is more likely to correct lower after rally.
Short-term trend seems clear as BTC is believed to oscillate between $8,700 and $9,100 in the coming days with support at $8,700.
When correction is completed, price holds greater chances to keep moving up as strength from bears is weakening. Window for daily traders will be opened every time price corrects lower.
Original by Kuang Ren, translated by AICoin Jami.
Full version: https://www.aicoin.net.cn/article/18038.html