Is Bitcoin about to crash?
Page 1 of 5011 123 ... LastLast
Results 1 to 10 of 101

Thread: Is Bitcoin about to crash?

  1. #1
    Bitcoin is double topping breaking upward a day push, as I write. Was Wednesday that the ' Death Throe ' candle, and will this dual top, if it holds, be significant?

    As a strict technical adviser, I cannot honestly see how Bitcoin can keep on climbing as it has recently been performing with no significant pullback, even an entire collapse. I know that it is unlike any other market being traded at this time, but if human character, that after all is the only factor that drives the markets, can be used as a guide, then logically, this monster must come down, and come down hard, and I write this today, because we are now seeing Bitcoin begin to unravel.

    Price always returns to its 200 day moving average, always. Look anywhere and you will see this to be authentic.

    Bitcoin is indeed far over its Daily 200 day simple and exponential moving averages today, that it sounds impossible to me that it could keep on climbing without coming way back, and I mean straight back to 10,000 or reduced. The record breaking move, the one day candle a 3,761 rise, at its own history of yesterday, could well be a ' Death Throe ' candle that signals the top or bottom of a marketor otherwise.

    These Death Throe candles could be seen on any market, on any given time period, I myself look out for these, for they often signal the end of a fashion. They are typically much longer than any candle, and I've drawn attention to them rather a few times before in my threads. The simple fact that the price sold off instantly following yesterday's candle closed is quite significant.

    Time will tell. - A narrative comment from last Thursday of mine.

    Can the correction, when it comes, turn into a selling rout as holders of Bitcoin rush to ensure the profits they've made?

    It may take some time to unravel, however off a rejection of last week's high could well open the door to a fairly significant selling pressure.

    This is not a forecast, just an observation of what may unravel, but of course, that is Bitcoin, and because it's been doing each time it's pulled back, it is bought to new levels.

  2. #2
    BTC falling in the 200ema now. From here it can fall again to new lows, but I don't think it will. The fibs are significant here for me, the smallest being the 76.4% which currently is right on top of the S2 pivot at 9,855. Above the 61.8% @ 10,270, the 50% @ 630, and the 38.2 @ 960. I don't generally pay too much attention to the 38.2%, but in this example, I think there is an excellent chance that it might hold the price. When the 76.4 percent is reached and fractures, then short of a double bottom, Bitcoin is definitely lower.

    Support and a turn around back north will be a relatively slow process, but based on the quantity of promotion pressure, a new low could unfold quite quickly.

    It's normal pa activity for a floor to be discovered, a rally back up to a few of the large moving averages, a roll over, then a greater low prior to the price rallies back again. This is precisely what I am searching for here, unless the price falls to a new low which creates recreation only when one is thinking it is going to continue, turns north.

  3. #3
    I believe Bitcoin is going to be a USD1Trn market capitalisationin case the Gold Market, plus a risk-off asset class has a market capitalisation around USD7Trn.

    This implies Bitcoin could reach in the range of USD60k - 70k each Bitcoin; also it'd probably well surpass any additional market bubble in history by a number of times.

    I am waiting until then before shorting!

  4. #4
    As I said above, I am a pure techie, and I trade what I see regardless of what the pundits are saying or what an instrument is supposed to perform.

    At this height above its 200 simple or exponential moving average on the Daily chart, diversion such as this is a powerful sell warning on anything you care to look at. I?m sure there are plenty of people still piling into Bitcoin even at these levels, this is the hype at this time among individuals with no investment or trading experience leaping in blind, but could any of you be buying into Bitcoin at these levels unless you were just trading the intraday movements?

    For me, the odds of this coming, or at least, pulling back a couple million dollars from this level is really high if TA is not anything to go by. Then, and only then, is it safe to jump on the side that is long depending on where the support is.

  5. #5
    Quote Originally Posted by ;
    As I stated above, I am a pure techie, and I trade what I visit no matter what the pundits are saying or what an instrument is supposed to do. At this height above its 200 simple or exponential moving average on the Daily chart, diversion such as this is at. I?m sure there are plenty of people still piling up into Bitcoin even at these levels, such is the hype right now among individuals with no investment or trading experience jumping in blind, but could any of you be buying into Bitcoin at these...

  6. #6
    Technical analysis do not quite work well there was just 1 trading egy thus far: buy on the dips and accumulate. You said price always goes back to 200 MA? It depends upon time price crossed this amount was a touch at $480 level and the previous time is crossed was $280 level, remember the MA moves upward too, now the 200MA reaches about $3900 level. I dont see price going that farther down, unless something astrophic happen, I discovered that 200MA moves about 800 pips up each month on the daily, in 1 year from now, this MA will be at $11K level, but what might be the price of BTC at that moment? Perhaps $50K? It will vanish by now. Look at SP500, the time price touched the 200MA was on NOV 2016, there was also 1 egy for it, buy on the dips, and by the dips, I mean small corrections. I've been burned several times by considering technicals, but because I understood the fundamentals supporting and I included in my daily routine, traders improved.

  7. #7
    Quote Originally Posted by ;
    Technical analysis don't quite work nicely for BTC, there was just one trading egy so far: buy on the dips and collect..., don't overlook the MA moves up too.... By today, no sighs of fatigue. .
    I do not fully disagree with whatever you have stated, but just a few items:

    TA can really work on BTC, and also the smaller time frames can be traded using the very same indiors and parameters one would use elsewhere, but it is very volatile that's for certain. As for the only egy that functions being buying on the dips, the exact same can be stated for any market in a strong uptrend, which BTC is in, thus there's nothing new there. Traders get burned most from trading against the trend, trying to pick tops and bottoms, so like I said above, I am not advoing that people sell, merely drawing on an observation based on how I see things developing according to my own method and experience trading other markets.

    Yes, MAs of course proceed as time passes, but it doesn't stop the price reverting back to them. It always does. Maybe it will not, who knows?

    The reason I began this thread is that I personally am seeing potential signs of fatigue right now. Time will show whether these are real or not.

    I do not really find a complete crash, despite the name of the thread, back to zero or just a couple thousand for certain, though one never knows, however a return on 10,000 so is potential. I would be buying, and selling, however, intraday using exactly the method I use. However, buying into BTC with a big bet hoping for it to go to the moon at this level would for me be risky.

    For people who are interested, the price is currently rising, and I have resistance now at around the 17,600-800 level in case it gets there.

  8. #8
    Well, she's been falling and rallying a little. Then 15,400 or thereabouts is a amount of support that is strong that could send it back up, if it goes lower . Below that, and 15,000 is the H1 200ema that sent it back up when the price made contact with it.

    I have possible resistance at 17,630 if it makes it back up to those levels within the following day or so.

  9. #9
    Update on Bitcoin viewed from a technical standpoint. 630 was the resistance I posted above, which it broke, but as moving averages never remain in 1 place for long, that is fine, and with Bitcoin a few hundred dollars here or there means small. I finally have an upper degree of resistance for your H2 time framework of 830, which I know I am late in pointing outside, but it's there nevertheless, therefore it is going to be very interesting for me to check whether BTC recognizes it , or simply blows through it. It should stop the price from going today at least.

    What I'm really seeing though is this H2 100sma, since it's provided crucial support for quite some time now, sending the price back up on Nov 24th, 29th, 30th, 1st Dec,( just over it ), 3rd, ( a little over it, but to the pip about the 61.8% fib from the prior reduced) 9th and 10th ( again just above and very near the 61.8% fib back) and now in the current highs but another dip is due I think. There have been time frames to concentrate on and other moving averages, but it's the tf, and also the 100sma. In the event the price does soon drop down to this moving average, subsequently itn will either be bought back up, or , in case it breaks, the way will be open for it to drop down to the next big supporting moving average that's the H2 200ema that I currently possess at 13,860, that could, if if it gets there, be a fantastic buying opportunity.

  10. #10
    Okay, therefore BTC has pushed just shy of $20,000 now!!

    But just consider how far it has climbed above its 200 daily moving average, it is just nuts. It defies all logic for it to just continue climbing without at least a pullback from these levels. I am not wishing it, because I don't care what it does, since I am not holding Bitcoin, but by a pure TA perspective, this thing looks to be screaming to come down. Would anyone be buying it?

    A nice fat doji closed out now, and observing a big, positive full candle on Saturday, this is quite interesting!

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information