Bitcoin - The End or The Best Time to Buy?


Member since:
Follows: 5
Followed by: 10
Started topics: 324
Last topics started:

TRX, ADA and EOS Technical Analysis - volatility is lost Hey! Tada...

DASH Coin Technical Analysis - best coin to watch right now! I was...

Disney and Comcast fight for 21st Century Fox assets Set of...

Hey!
Check out my latest Technical Analysis of Bitcoin. From my point of view, situation is more than complex. Let's have a look at the picture:
BTC_636644994232632564.jpeg

Here we can spot three key signals for Bitcoin price:
- Long term triangle pattern, which Bitcoin breakouts through the bottom. Clear sell signal.
- Medium term falling wedge patter. So we have a chance for reverse in trend. Bulls advantage.
- In short term we see RSI in oversold territory. Another signal for bulls.

So what's next?

For me we have clearly bearish market now. Just take a look at this enormous triangle. And huge volume spike during breaking out. It's clear - bears rock right now. But... as I wrote before - wedge may suggest bulls may have a chance. There is just one problem - so far wedge patterns didn't work well with bitcoin. There is risk it may fail again. On the other hand, RSI gives a strong support for bulls and theirs counter attack. If you look at the chart history, RSI was always a good predictor for Bitcoin. At least to spot correction.

Predictions?
I'm on bearish side of the market now. Current situation is just correction during downward trend and that's what I suppose is showing us RSI. In my opinion wedge will fail, triangle will prevail. RSI will cool down and Bitcoin will be falling again. It's not the end, but lets be hones - Bitcoin is facing more troubles than ever. Just take a look at latest news about possible huge price manipulation, with Tether involved:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3195066
Add to this FDA investigations and recent exchange hack and you see a lot of threats for Bitcoin. Threats that favours bears in Bitcoin race. Upcoming correction may be good time for shots or selling Bitcoin to wait and buy back at lower levels.

Just remember, always judge yourself and make your opinions. No one can predict future. We can only guess.


Member since:
Follows: 0
Followed by: 3
Started topics: 10
This Tether case... It's another evidence that whole Tether is a scam. Scam that will drown BitFinex and respectively whole crypto market. I agree that current situation prefers bears over bulls. Especially that FBI and US Justice Department investigates Tether and BitFinex. They are closer and closer. And dooms day is upcoming.
Warren Buffet used to say "Buy when others are fearful". I'm fearful now. People are fearful. But in my opinion the real fear is upcoming, just when USJD will post first accusations and people will see this s**t is real.
Sorry Bitcoin, I'll buy but much later. Now people are still to greedy ;)


Member since:
Follows: 5
Followed by: 10
Started topics: 324
Today we are still in wedge so this pattern didn't break down yet.
So no greedy, no fearful, just wait and see ;)


Member since:
Follows: 0
Followed by: 3
Started topics: 10
Come on, bitcoin will prevail. Such "research" like this will always be posted to weaken crypto. Any of you bothered to read this whole study? And even if you did, are you sure your are smart enough to check if they didn't do mistake? Lots of words, lost of math, but don't you thins it's overstated? Whole mainstream wants crypto to be dead. I feel like they just use authorities to try to frighten people. They not gonna take me. During each dip I add crypto to my wallet and this time I'm gonna do the same.
HODL!


Member since:
Follows: 2
Followed by: 1
Started topics: 9
I don't think Bitcoin value is increase.. ;(


Member since:
Follows: 0
Followed by: 3
Started topics: 9
I still have faith in crypto. We just need to get rid of weak speculators, who thought it's easy money and didn't care about what they invest in. Now strong hand will take coins ;)


Member since:
Follows: 0
Followed by: 3
Started topics: 5
RSI rose but not so much. We are still near bottom. Looks like you were right about correction. Bitcoin took breath only to dive again :/


Member since:
Follows: 5
Followed by: 10
Started topics: 324
Soon we will have clear situation. Volatility dropped dramatically. In crypto it always mean we will have spike soon! Last time I posted such info.. we had crazy rally. Wish it's gonna be same this time, either up or down.


Member since:
Follows: 1
Followed by: 7
Started topics: 45
Yup. Exactly my thoughts. Technically BTC has bumped a few times, strengthening the resistance level. Fundamentally, stock markets are (finally) heading into a huge and painful downturn. Where do you think at least some of the freed capital will steer to?


Member since:
Follows: 0
Followed by: 2
Started topics: 5
Seems like market doesn't care about trade war, correction and painful downturn. Not yet. Wall Street seems resistant to any bad news upcoming. Crazy, but true. No end to this bull run. And because of that, less people will be interested in crypto - why care about such complex and dangerous (when it comes to law, legislation and taxes) investment, when everything around on Wall Street brings you more than decent returns?