Bitcoin Downtrend.

Why not just dollar cost average? Buy a little every week

downtrend confirmed. saw it in my dreams.

Dark Sky said:

This now has 3 lower highs, which signals that this is not a retracement, a downtrend is confirmed. Can it break out of this downtrend through consolidation? Who knows, personally I think this is the end for this year, and traders are about to get robbed by manipulators if they stay in.

I see so many positive TA's for bitcoin at the moment, it doesn't add up. This is a confirmed downtrend.

Edit: It's also moved below the moving average. Signalling a reversal.

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It will consolidate for a while to some choppy sideways trading..and when its ready, it will head north again - why? Fundamentals of Economics 101 still apply. Its like the Dollar - forever devaluing over the years -why? QE never stops.

PS: This is longterm analysis by the way, not daily chart trading.

Dark Sky said:

To clarify for all.

My personal expectation is for a reversal to happen and it goes down from here onwards with a few ups. No ATH till 2022 IMO...

The bitcoin crash begins now.

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signal came true

Next stop.. 47k

VSYNC said:

Next stop.. 47k

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I'll give it 10 days before it hits 24k

Dark Sky said:

I'll give it 10 days before it hits 24k

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$24K is certainly more likely than $10K, but let's see man.

If it gets to $24K I hope you've your bags open.

I still think we need to see ~$50K before the "real" drop happens. I don't think it's finished for the year, just yet.

VSYNC said:

$24K is certainly more likely than $10K, but let's see man.

If it gets to $24K I hope you've your bags open.

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I dno man, the price depends entirely on the adoption since bitcoin has no intrinsic value, I haven't seen anything too drastic to suggest it can't stabilise around 10k. Could be wrong but that's the price im waiting for I'm confident it will reach 10k this year

Dark Sky said:

I dno man, the price depends entirely on the adoption since bitcoin has no intrinsic value, I haven't seen anything too drastic to suggest it can't stabilise around 10k. Could be wrong but that's the price im waiting for I'm confident it will reach 10k this year

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You'll hear people say that Bitcoin has no intrinsic value all the time.. it's a worthless statement tbh.

The value BTC provides are unique solutions to a range of different problems.. BTC initially, but now crypto more broadly. But the mistake people make is thinking that Bitcoin having no intrinsic value means that the only reason it's valuable is because of speculation.. which is not right at all.

Like I said, if you go for a $10K entry point and get it.. congrats. But BTC getting back down that low now would indicate a serious problem.

Maybe if every stablecoin was simultaneously banned and people lost billions over night, plus midway through a bull run that would be pretty catastrophic.

Outside of that, BTC getting back to $10K without a major negative event would be fairly ludicrous at this point imho.

VSYNC said:

You'll hear people say that Bitcoin has no intrinsic value all the time.. it's a worthless statement tbh.

The value BTC provides are unique solutions to a range of different problems.. BTC initially, but now crypto more broadly. But the mistake people make is thinking that Bitcoin having no intrinsic value means that the only reason it's valuable is because of speculation.. which is not right at all.

Like I said, if you go for a $10K entry point and get it.. congrats. But BTC getting back down that low now would indicate a serious problem.

Maybe if every stablecoin was simultaneously banned and people lost billions over night, plus midway through a bull run that would be pretty catastrophic.

Outside of that, BTC getting back to $10K without a major negative event would be fairly ludicrous at this point imho.

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I disagree, it has no intrinsic value as no government is backing it, it has nothing backing it. Therefor it has no intrinsic value, it does have value and that's based on adoption, but not intrinsic value.

It' reaches 3.5k in 2018 after the 20k, It can definitely reach 10k IMO, there has not been a significant amount of adoption since 2018 to suggest it can't reach 10k..

Dark Sky said:

I disagree, it has no intrinsic value as no government is backing it, it has nothing backing it. Therefor it has no intrinsic value, it does have value and that's based on adoption, but not intrinsic value.

It' reaches 3.5k in 2018 after the 20k, It can definitely reach 10k IMO, there has not been a significant amount of adoption since 2018 to suggest it can't reach 10k..

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You're entering whacky land a bit mate.

I didn't say it had intrinsic value, I said it is a worthless statement that many people get confused over.

If you think the point in time we're at now is the equivalent of the tail end of the 2017 bull run, you're in for a rude awakening too bro. This isn't the end of the run.. it's only just begun. The halving was midway through last year.. runs take about 18 months to materialise.

The real whacky thing you said though is that there has not been a significant amount of adoption since 2018. It's important to know what you're talking about mate if you're basing your investing on it, and that's patently false.

Just one metric of many:

Fuck bitcoins and altcoins, sell them all so I can buy low.

People seems to have forgotten that it's common for btc to retrace at least 30% during it's bullrun. And lastly, stay poor plebs.

Dark Sky said:

To clarify for all.

My personal expectation is for a reversal to happen and it goes down from here onwards with a few ups. No ATH till 2022 IMO...

The bitcoin crash begins now.

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I smell someone trying to manipulate the market

HustleForLife said:

People seems to have forgotten that it's common for btc to retrace at least 30% during it's bullrun. And lastly, stay poor plebs.

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42,000 * 0.66 = 27720.

At this point in the 2017 run, it retraced exactly 25%.

42,000 * 0.75 = 31500

Take your pick.

I don't know English well, so I apologize for grammatical mistakes. Here's what I think about bitcoin.

I don’t want to upset you, but unfortunately this may be the case with Bitcoin. Since 2019, I have been for long on Bitcoin up to 50-60k, when many such prices could not even imagine. At this point in time, I already think where the potential ATH for BTC is possible. Now everyone is at 100k and everyone is bullish, but the market may have slightly different plans. Until recently, no one believed in the breakdown of 10,000, but now if you say that Bitcoin will collapse to 15,000, no one will believe it anymore‼ ️ - People very quickly get used to new prices, and what seemed too expensive just recently is now too cheap , everyone buys both 30k and 35k - If 53,000 - 57,000 is ATH in growth, bitcoin will fall to $ 15,000 - there will be a long medium-term correction - If I was mistaken and it grows to $ 100,000, it will still collapse to $ 20,000 - $ 25,000, no matter what they say. There is no eternal growth, just as there is no eternal fall. This trading idea IS NOT A RECOMMENDATION FOR MAKING TRADING DECISIONS, because at least it is not yet clear where the global extremum (ATH) will be, which BTC will not update until the next growth cycle - I continue to follow the trend and follow Bitcoin, but I am ready for the fact that the long peak may be closer than most people think. The market will turn around in such a way that no one will understand that it has already turned around, that Bitcoin can fall 2 times faster than it can grow.

I think, it will rise back up to the top.

Looks like it's slowly climbing again.

Engulfing bullish 4h candle + the previous candle closed outside of the bolls.

13mins from now, shit could be getting real.