[ Bitcoin ] Making lower lows. Is the bottom closing in?
We have seen a ‘’big’’ drop in the last 24 hours from $8300 to $7833 on Bitstamp. Was that the low? Not yet says Heajin Lee, Tone Vays and Botje11. They think the bottom of this wave could be closer to $7600.
I have added the proof of their views below.
Here is Dan from The Chart Guys:
Here is Heajin Lee with his analysis:
Here is Tone Vays:
Here is Botje11 on Tradingview with clear $7600 target:
Where do you think is the low?
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I am holding on to my ski's until we get to 7600. The bears are still in control, :(
I should have listened to the Gurus and sold earlier. Lets see if my bot can recover the current losses. We can have a big bounce from 7600 and all will be ok. :)
We need something to spark BTC rise. I hope that will be EOS launch. Last year rally was initiated with ETH rise and ICO development on ETH. EOS could do same.
P.S. I have bought some Steembasicincome (SBI)shares for you to support a bit your work. Cheers!
Thank you for that but how does Steembasicincome (SBI)shares work? Or what is it?
https://steemit.com/introductions/@steembasicincome/steem-basic-income-the-extended-introduction
A bit disappointing, I also thought the bottom was in and bought some more. In the long run, won't make much of a difference anyway, let us hope $7600 holds!!!
You are still getting it at big discount from 2 weeks ago.
Yes it is disappointing to see @kenneths. My bot bought all the way down and i am maxed at the moment. But when we turn the bot will be able to sell some trades. To buy when prices go down and sell when they go up, is the way to go. It is just difficult to know where the top of bottom is.
I am still in the cane you are going to see a test of the Feb lows here. NOONE is looking for that and sentiment is still too bullish. Watch it unfold.
We are going down now, but it cannot go on forever just like we cannot go up forever. I think we will bounce from 7600 and go up again, but then it will come down again too. I trust 6500 was the 2018 low
You could be right. Nobody really knows all when it comes to bitcoin prices. If we see a pump up before going down again it will be ok. I will then be able to sell some of my positions and take care next time we go down again. This has been a long down move the last 2 weeks.
When long down moves don't bounce....that is not good and sets up a puke
Check how volume declines with rising price on a 12 hour chart - not bullish at all. The market is still in a crash pattern. It's is going to test 7200 soon. It may bounce there, but there's a high likelihood that we will see 5k before 10k.
Bearish divergence on 3D:
You are the second person taking about 5000 today. I hope 6700 will be the low. That way we have new higher low from 6500 low.
I am hoping for a bounce to 8100 before we go down again to 7300
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I'm not really too concerned where it bottoms out since im constantly adding to my position. Whether I get a few satoshis more here and there is fine with me, i believe in the long game and these dips won't seem as bad if you look at it over course of the year.
The market may not be growing as we all would like but fiat suffers from inflation every year and the buying power gets less. So putting your money into crypto you can at least increase your buying power if not your actual dollar/rand value