Comparing [BTC] sell-offs and what to expect now !!!

vonbuelo (54)in #btc • 7 years ago

Bildschirmfoto 2018-01-14 um 19.20.48.png

Chart says it all.
I'm looking for a capitulation style sell-off that could reach about $8,000.
Look at the sell-offs from 2500-1800 and from 3500-2800.
EMA 850 looks like a very strong bounce line but we can dip slightly below it.
The one thing I'm worried about is the lack of real support since we pushed through 7k very fast.

Let's see what happens.
Don't invest what you cannot afford to lose.
Don't over-leverage.

I watched it dip to 1800.
I watched it dip to 2800.

I watched it dip to 8000?

I think this could happen.

#bitcoin #cryptocurrency #blockchain #money

7 years ago in #btc by vonbuelo (54)

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exxodus (60) 7 years ago

Good analysis. I'm with you. I honestly think at some point this year it will test the $5k support or lower.

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vonbuelo (54) 7 years ago

Thank you for your comment! :)

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nkd11 (36) 7 years ago

I think if you look back it spent a bit of a time consolidating at 8000. I don't think it will go past that.

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nkd11 (36) 7 years ago (edited)

5k is not happening. Common! Unless all the money pours in to alts I don't think so! I highly doubt people sell off and go home. If you look at the trend, Alts dip with BTC and then they recover when it stalls and then btc dips again. Overall BTC is dipping but Alts are not suffering as bad as they would. Sudden dips hurt alts but slow dips makes alts not lose as much as btc. Like OMG for instance it dipped dollar or two while BTC dipped 1500. Look at NEO and GAS they went up over night. So we are seeing when BTC stalls alts recover and make up that difference they lost due to BTC dip! But 5k is just wishful thinking! I don't think it ever gets there. 5K might happen if BTC is dying due to scaling issues and people are swapping to alts.

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adri1202 (44) 7 years ago (edited)

Great analysis, had to zoom your chart to read it all :-)
Really well explained though.
I think a dip to 10-8k$ will occur, BTC can't just go back to 20k$ like that, but 5k$ is a bit pessimistic imo, but it's true that if the 8k$ support is broken there will be huuuge panic selling ...
In that case we will be back to the beginning of 2017, and a bull run will follow. The fact is a lot of money from standard investor is coming, even JP Morgan plans to offer futures for BTC, so it will go up again, another fact is they want to buy cheap so, maybe if it dips really hard they will be involved in a way or another, and maybe it's already the case, they could have been involved in the pump to 20k$ and now they slowly sell to make it dip and induce panic sells. Really ugly for little hodlers like me, the only way to not be crushed is to HODL, selling now is complete non sense, planning some buying is the good move imo.
Thanks for sharing anyway, I'll use your chart to ladder better my buyings (to hodl, no leverage), 10 to 8k$ seems good, and keep some cash to buy more if it dips lower.