Bitcoin price down 5,6k USD in this week.

[Ali saher]

Hey friends ,

Yesterday I watch bitcoin price 8700 USD plus ,but just within few hours price very fast go down and now price is 7700 USD mean 1k USD price down just within few hours. I think price go more down end of this week maybe 5k USD or 6k USD.

What you think price go more down this week or you think price again go up like 9k USD plus.

[cryptobird71]

Nahh, $5k-$6k would break up trend resistance thus creating an even bigger descending triangle than what we had in 2018.  $7700 should hold as this pull-back's bottom.  We have been respecting the Fibonacccis and expect it to continue.  Bitcoin has always respected the fibonacci to a very accurate measure throughout its history, especially when coming into support at the .618 retracement point.  Just in the midst of me typing this short message Bitcoin has moved from $7780 up to $7900.  When fibs are being respected, the trend overall is respected.

 

- Consolidated zone of support sitting from $7,670 to $8,050 that we are currently.  Bottom of the channel represents the .618 Retracement level and the top of the channel represents the .147 extension level.

 

Both macro level trend lines are holding support at the .618 as well as the top descending line of our falling wedge from the drop from $14k to $6.2k.  

We have 3 major trend lines and the .618 holding plus from the first chart have another major trend line stemming from all the way back in December 2011.  Idk if the support at this level could get any stronger.  

If it breaks this support for any reason, its most likely a liquidation wick hunting burst of orders.

[sahil777]

i can predict below 5k at the end of april, i cant say anything about march because things are little uncertain, lets see the more cases and panic about coroana in coming weeks, then we will see where it is going, then bitcoin will surely get effect by this panic scenario.

[Ali saher]

6 hours ago, cryptobird71 said:

Nahh, $5k-$6k would break up trend resistance thus creating an even bigger descending triangle than what we had in 2018.  $7700 should hold as this pull-back's bottom.  We have been respecting the Fibonacccis and expect it to continue.  Bitcoin has always respected the fibonacci to a very accurate measure throughout its history, especially when coming into support at the .618 retracement point.  Just in the midst of me typing this short message Bitcoin has moved from $7780 up to $7900.  When fibs are being respected, the trend overall is respected.

 

- Consolidated zone of support sitting from $7,670 to $8,050 that we are currently.  Bottom of the channel represents the .618 Retracement level and the top of the channel represents the .147 extension level.

 

Both macro level trend lines are holding support at the .618 as well as the top descending line of our falling wedge from the drop from $14k to $6.2k.  

We have 3 major trend lines and the .618 holding plus from the first chart have another major trend line stemming from all the way back in December 2011.  Idk if the support at this level could get any stronger.  

If it breaks this support for any reason, its most likely a liquidation wick hunting burst of orders.

Ohh very nice you analysis very nice to bitcoin price and I really not know about this information. I use bitcoins last 2 years and I not see the old price what I just analysis price just on my experience.

[Ufra]

Your experience of this analysis proved 100 percent correct. Now the Bitcoin price is so low as you tell in Monday today is Thursday.

For screenshot

https://drive.google.com/file/d/1R2jVStI6dNMOk-NkIeVBqMcLgPlssoUa/view?usp=drivesdk

 

Message for moderators:

Because photo is not uploading in attachment. He say error while uploading.

[Ali saher]

5 minutes ago, Ufra said:

Your experience of this analysis proved 100 percent correct. Now the Bitcoin price is so low as you tell in Monday today is Thursday.

For screenshot

https://drive.google.com/file/d/1R2jVStI6dNMOk-NkIeVBqMcLgPlssoUa/view?usp=drivesdk

 

Message for moderators:

Because photo is not uploading in attachment. He say error while uploading.

Thanks for share this . I follow Btc price last 2 years. And I always focus how Btc price go up and down. Even so many sites owners say bitcoin price up but I say one time price must go down . I think next 3,4 days very risky for investors because this time not you guess what's going on but in my opinion next 4,5 days price again stand for 1,2 months

[Ufra]

After few months the coronavirus will become famous in all the and the people will lost his money in the homes but the Bitcoin will be still keeping it's rules about banking system. But in trading, I think that the Bitcoin market will up.

[Ali saher]

On 3/12/2020 at 9:52 PM, Ufra said:

After few months the coronavirus will become famous in all the and the people will lost his money in the homes but the Bitcoin will be still keeping it's rules about banking system. But in trading, I think that the Bitcoin market will up.

I don't think now 1,2 months bitcoin price go up like 10k USD plus. I think now price just up down between 5 to 7k USD . After 2 months price go up very fast and maybe touch 13k USD plus.

[Salsa]

Yah you have found out the right topic bro. It happen just because of the economic system of usa lock down unfortunately for corona virus..and it effect gonna worse this time more

[evet]

Btc now is stuck around $6,000, it almost came back to $7,000 the other the day but it went down as quick as it went up. Now it's around $6,200 and still dumping. Hope it doesn't go down to $5,000 once again. 

This month and the next month, I think btc will stil struggle to be in $7,000 and still lots of pumps and dumps between $6,000-$7,000. At least that makes more sense until no one gets rid of the virus.