[ Bitcoin ] New Bitcoin Target, or is this a pump to go down?
Bitcoin was down all the way to $9809 on Bitstamp yesterday, which was not nice to see, but we are still way off the $7500 target some analyst predicts will happen soon. Or will it?
If everyone sees $7500 as a new low, some will get in early and we might not see it. Do see what I am trying to say? If we know the future, we will act accordingly, and the future prediction might not happen.
Currently we are making higher lows from the $9500 low this week, but this can change fast as we have seen before.
I am watching Tone Vays for a longer view on Bitcoin price and he says that if this week closes at a lower weekly low, that is bearish. Tone looks at the weekly candle sticks and gives us 3 scenarios which is very interesting.
Tone shows us why $9200 is key. His weekly chart is still very bearish. If we break $9200 we are going way down. But before that we might see a bounce to $11000, then all the way down.
Here is Tone Vays’s latest video:
Here is the analyst of Heajin Lee for more info on Bitcoin. He is also seeing more downside:
What do you think of the current bitcoin prices? How low can we go? $7500?
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I don't really wanna see a lower low here but I think we'll go a little deeper. More on this in my latest post which I think you'll find interesting:
IMPORTANT COIN UPDATES - BTC, XVG, TRON — Steemit https://steemit.com/bitcoin/@benkalashnikov/important-coin-updates-btc-xvg-tron
You got a 29.79% upvote from @mercurybot courtesy of @colinbrazendale!
We definately are going down slowly but surely. I do see long term potential in a $700k Bitcoin but the speed might take longer than we can imagine. It can take less then we imagine also. The comeback for Bitcoin will eventually be like the pound of gold for pound of salt, pound of salt for pound of gold. We can find way more gold on earth, we can create gold in nuclear reactors, we can find gold in space. Bitcoin is predetermined. Forks do not matter, bitcoin is bitcoin and was designated since mining the first half of the coins to be that way. Unfortunately for enthusiasts thinking of revolutionary Peer to peer should understand that the banks will use bitcoin to their advantage. Which is good investment for us earlycomers. Bitcoin will never become expensive for as being the Peer to Peer money sender as that is obtainable with just blockchain. Nice charting it is very precise and your call is a very good one. 🍻
Thank you for your comment and insights @importanteye
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It is said that bitcoin will go up from the middle of February...So we hope and wait for this moment!;)Good post!
Is that right?
Nobody knows @latindance :)
It hasn't been long since I started. I look forward to your kind cooperation.
Bitcoin will ascend to the most elevated pinnacle ever.
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I guess it won't go that $7500 low.
Still I believe in bitcoin long term.
What can you say @cleverbot?
Yes and no. That's it.
Oh!
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A center of attraction @cleverbot!
I do.
That's freaking awesome @cleverbot!
Thank you.
You're welcome @cleverbot.
If the dropping of bitcoin continue in this form I think in less than two month it will hit $7500 or even lower.
There will never ever be a "to-go-down" in Bitcoin. This has been happening all over and will keep happening every end of the cycle.
The medias just make it worse by spreading FUD all over but the market will consolidate and go bullish again in the next weeks. It is time to HODL or BUY . That is my opinion by the way!
You got a 14.29% upvote from @minnowvotes courtesy of @colinbrazendale!