So again this is just for fun, just to have an idea of where we could be in the 2014 bear...
We can see an interesting comparison with 3 important indicators on the BTC monthly chart : The 21 EMA (purple line), The RSI and The MACD. The 21 EMA is acting as support, The RSI is at 55 and the MACD is starting crossing... This happened in 2014-08-01 and this is happening again right now (2018-07-09).
Stay tuned for more updates,
Fred
#2014VS2018 #BTCisKing
評論
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So just to update you guys with this interesting chart comparing 2014 and now ; BTC cracked the 21 EMA, the monthly RSI is at 46 and at it's lowest point in 2014 RSI was at 44... And the MACD if you compare now to 2014 indicate that we would have our bottom if it does like the 2014 bear market.You won't really be able to see these updates even if you click on play on this chart so go check it on trading view to see by yourself.
I dislike fractals and believe they are more coincidence than anything. But crypto is highly manipulated by programmed bots most likely setup by the exchanges themselves. It's a lazy way for the exchanges to setup these bots to control the market.
But yes I have to agree we are definitely following the 2014 market only at a 1.5X faster speed rate if you are taking time frames into account.
We are currently in the "denial" phase with idiots still claiming "bull runs" on the smallest of corrections up. If you take a look at the charts from a daily time frame you can see impulsive moves are down and only corrective are up. This tells me that we are well and truly into the bear market. Most fools on here look at smaller time frames and are calling bull runs which tells me they are amateurs. Shorter time frames are only useful for scalpers, daily traders and swing traders to a degree. But if you are a HODLR/investor now is not the time to buy. Let the market bottom out and get some bang for your $$$ and ride the bull run when it properly arrives.
Anyone who is bullish right now doesn't understand how markets works and is being fooled by the exchange/manipulators that can only manipulate for so long before the market implodes on them.
THE BOTTOM IS NOT IN! And yes it is way bellow 5K. Personally I'm hopping for the best outcome of a $3.5-3.8K reversal (which I am at 85% will happen around Nov-Dec this year), but I am prepared for a 1K-1.8K scenario also (unlikely because under 1K BTC is going to zero and taking sh#$ coins with it, it is over at that point).
@Jessica_H, Yes, probably the most likely scenario. I'm thinking $1500.
mauryj
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@Jessica_H, I am doubtful Bitcoin will ever go below $1000. Below $5,000 I could see, but I doubt it. When the price goes up like crazy, people want to buy. When the price goes down, people want to sell. Eventually, though, at some price point - the weak hands will be gone - because - 21 million bitcoin limit. There is only so much btc available to sell. Bitcoin will never go to 0. Every large downtrend it makes, I will be waiting to buy a bit more, as are a million other people who "buy low and sell high."
BradTrimas
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@Jessica_H, I have heard the way below 5k and im not buying it just yet. My low is 4888 support. Everytime BTC breaks under 6k by a few hundred it shows major resistance. Could it happen? Sure, anything can, however my buy orders are at 5500 and 4888 respectively.
@Jessica_H, I also believe the bear people are a little over exaggerated. I don't think Bitcoin will go lower than it's cost to mine it. That said the current cost to mine it on average is $ 3,990.04. So I don't see Bitcoin falling lower than 4888.00 I have buy orders a bit above this at 5300
But yes I have to agree we are definitely following the 2014 market only at a 1.5X faster speed rate if you are taking time frames into account.
We are currently in the "denial" phase with idiots still claiming "bull runs" on the smallest of corrections up. If you take a look at the charts from a daily time frame you can see impulsive moves are down and only corrective are up. This tells me that we are well and truly into the bear market. Most fools on here look at smaller time frames and are calling bull runs which tells me they are amateurs. Shorter time frames are only useful for scalpers, daily traders and swing traders to a degree. But if you are a HODLR/investor now is not the time to buy. Let the market bottom out and get some bang for your $$$ and ride the bull run when it properly arrives.
Anyone who is bullish right now doesn't understand how markets works and is being fooled by the exchange/manipulators that can only manipulate for so long before the market implodes on them.
THE BOTTOM IS NOT IN! And yes it is way bellow 5K. Personally I'm hopping for the best outcome of a $3.5-3.8K reversal (which I am at 85% will happen around Nov-Dec this year), but I am prepared for a 1K-1.8K scenario also (unlikely because under 1K BTC is going to zero and taking sh#$ coins with it, it is over at that point).