Thread: Is Bitcoin about to crash?

BTC did indeed rise as I thought it would as per my last article, and now has rolled over from their 30m 100sma, although it did breach it a little. The test is to see if it could break through yesterday's low. Or, put in a higher low before rising to breach then and the 100sma the 200ema, which may see it rise back towards 13,000.

Originally Posted by ;

Down movement is not over:9700, 8700, 8000. . .or so.

9700 reached, soon it'll visit 8700. That is already 8000. So....doesn't need imagination for completion...

Originally Posted by ;

quote It might help to see the larger image. South Korea and Japan are considering restricting we can use cryptocurrencies. Bitcoin has an equal probability of falling longer.

Does this larger image include the fact that South Korea would like to regulate exchanges that charge 30 percent more for crypto?

The business needs regulation and long term/bigger picture will probably be good for BTC and crypto

for Each bad news crypto story out there there is a counter balancing great news story (and alot of doomsday / misinformation news pieces inbetween)

Signal of the bottom of this sell off I suggest will probably be (MSM and zerohedge/FF)

great news events from Asia
crypto endorsement from 'leading banker/investment business'

price will rise rinse and repeat

Looks like people are dumping BTC and buying EUR

Originally Posted by ;

quote Depends who you believe by everyone - the naive investor, or the experienced expert. Certainly your logic will notice you killed off very quickly.

The thing about this is that folks buying Cryptos are unleveraged, unless they are buying the futures broker-bets.
Thus you might find a sore buttocks however, you should have something left at the end, assuming the trades will pay....

I see the next support from the 7800 ~ 8200 range. It is obvious about the daily chart.

If I had been invested in this Bitcoin bubble, then I'd be carrying at least a 50% take profit ASAP. Talk about market control; it.

Originally Posted by ;

quote It might help to see the larger picture. South Korea and Japan are thinking about restricting how we can use cryptocurrencies. Bitcoin has an equal chance of falling longer.

Yes, thank you for that. The fundamentals are significant but I have not discussed them here as I like to focus on my chart graphics. This doesn't mean they should not be discussed here and I welcome some input from a fundamental perspective.

Originally Posted by ;

Not out of the woods yet, but my moving average order about the 30m chart , which was entirely bearish yesterday, has become broken, meaning a greater one has crossed beneath a lower one, and that, in the end, in accore with my machine, take the edge off the selling pressure, not eliminate it, however, but dull it. It means 9,180's low today we saw might not be broken out of this position, so the price should consolidate and move up, at least until it rises and rolls over for new highs. The greater time frames continue to be extremely bearish...

It might help to view the larger picture. Japan and South Korea are thinking about restricting how we could use cryptocurrencies. Bitcoin has an equal prospect of falling more.

None of the woods yet, but my moving average order about the 30m chart , which was entirely bearish yesterday, has become broken, meaning that a greater one has now crossed under a lesser one, which, in the event, in accore with my machine, take off the edge the selling pressure, never remove it, however, but dull it. It usually means that 9,180's reduced now we saw may not be broken from this position, so the price should consolidate and move up, at least until it climbs and rolls around for new lows. The time frames that are greater continue to be extremely bearish though, with MAs all in their correct order. If it climbs from here, it will surely fall, and it is only then that we'll understand whether BTC is bottoming out, or shoving for another leg down.

Growing from here, then decreasing again but to a greater low, can pull in new buyers. Breaking the current low though and 8000 awaits.

Originally Posted by ;

nah, you ought to be buying it. When everybody believes its going to burst, you it. When everybody thinks is going to crash you buy it. Easy as... trading. picture

Depends who you mean by everybody - the naive investor, or the seasoned expert. Your logic will see you killed off very quickly indeed.

Anybody see this support, because it can't be seen by me. The possible support I have is 8000. I was thinking once 10,000 broke we'd drop $2000 in the blink of an eye....taking a breather before the evening session?