[ Bitcoin ] Where did the Bulls go? How low will Bitcoin go?
The bears won big time in the last 3 days. I did not expect it at all. First the $9200 support broke, then I thought no way we are going to break the $7600 support, because that is where we bounced from 1 day earlier.
But then $7600 broke with no resistance and we went all the way down to $6088 about 1 hour ago! Looks like nothing is supporting the bulls and it is all bears. The bears are still in control. How low will we go?
Here is the 3 day Bitstamp chart from Bitcointicker.co:
I just watched Tone Vays latest update and he says we have huge support at….. wait for it, $1300! No ways will it go that low. Surely the bulls will return well before that level?
The weekly candle chart is still bearish according to Tone. If we continue with this trend, the first resistance in the next couple of weeks is $4700. If this price breaks we are going to $1300. Ono!
Tone Vays technical analysis video about 8 hours ago:
What do you think of the current bitcoin prices? Are we going to $4700? Or $1300? Or back up?
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Bitcoin Bulls are on hibernation mode and it will take about 6 weeks before they can come back to market.
6700$ was critical :) The bulls might be back @cryptokraze
https://steemit.com/bitcoin/@pozzecco/6700usd-might-be-dip-of-the-bitcoin-i-don-t-say-it-the-moving-averages-says-so-check-it-out-bitcoin-technical-analysis
Really that long @cryptokraze? If it takes that long the new up trend will be slow, or recover will be slow.
The way I see it is it cant get that much worse.
Hope you are right @braxton101
When bitcoin was approaching 20K, a lot of people in the crypto community thought it was going up at that rate forever. After a series of healthy, in my opinion, corrections, it seems like bitcoin has surprised us all and that nothing's impossible. So although 1300 right now seems highly unlikely, I've seen so much of the impossible happen that I wouldn't even be surprised anymore. I see it as an opportunity. If bitcoin hits the 1.3K mark, I'll definitely be buying a heck ton of bitcoin.
Me too @chunger, me too. :)
Thank you for this info, very useful for us! Yes, cryptos are falling, falling back to the normal state. That high level was not normal! I also learnt from my mistakes, i'll never buy bitcoin for 18000 and then sell it under 10000 :)))
What do you think of the Steem price? Will it be lower, even under 1 USD? if this trend continues, it is very likely...
Interesting question @kalemandra. So far Steem has fallen with Bitcoin. But with Steemit we can earn more Steem and SBD even with the price at $1. I would like it to see the stabilize even at $1. Then I can work out how much I can earn every week. With the price going up and down the post earning keep on changing. :)
Damn
How low will it get?
I hope this is it, but Tone says it might go lower if it does not hold @rowland
True
On a long run it will likely rise, all cryptocurrencies will suffer now tho. But looking at the other side, it won't be a bad idea to buy some and hold when it drops.
Crazy Stuff!!!
i think 1300 is pretty low, 5k should be a swear spot for bitcoin with big support
I hope we never see that level @h3ck02g
Oh no, this fall is heart wrenching. What is happening? It's so sad to see that crypto is bloody now. I hope we rise very soon. Why are we breaking with no resistance? We seem to be falling so freely
Yes @zizymena, this is not pretty. :(
Bulls are on holiday. Gosh, when is SBD & STEEM going back up?