The price could not break 8000.00 support level and bounced to the uptrend line. Will it be a short term retracement with further falling to 7000.00-6000.00 levels? Will it be a starting point for a new uptrend? In order to get replies on these questions, we'll have to watch closely for price action at important levels and lines. For a downward movement the price will have to reverse from the downtrend line and break 8000.00 support level. For confirmation the upward movement, the price will have to break the downtrend line. So, the downtrend line and 8000.00 support are the key levels for the market now. Let's keep an eye on price movements in these important zones.
The other signals, which we should take into consideration, are the signals from indicators. The price diverges with MACD and RSI and it gives us a trend reversal signal. MACD supports the upward movement. DMI shows that the bears are not so strong now. ADX line falls and we should not expect strong price movements. But will the price move upward? The previous attempts were not successful. Now we must be very careful with any buy signals, because the market is not stable. Only strong fundamental support and solid reversal signals can be a good reason for opening long trades.
Bear trap at $8150! Someon is buying out all your short at $8150!
Why we should never let Bitcoin fall below it's fair value.
Alfaquotes.com created a mining-based formula for calculating Bitcoin Fair Value, which currently equal to $10547 on March 18, 2018.
CME and NASDAQ created BTC future market, so Wall Street can gain on BTC without actually purchase BTC. The idea is to prevent the out flow of Wall Street money into crypto. It also allow large BTC holders to sell large volume of BTC and purchase BTC future at the same time as hedging from the price fall.
Perfect idea, as a result, BTC price had falling from 19K to 8K today. Crypto traders see the opportunity, shorting BTC on margin and future trading. If this continued BTC will fall way below it fair value, miners may have problem continue mining BTC. Today BTC is still the earth/mother of crypto, this may change some day in the future, for now we should protect our crypto assets by protecting the fair value of BTC.
Buy BTC when it’s cheap, below fair value. Don’t let the bankers get our BTC cheap. They have more fiat then all of us combine. You short BTC under value, they can buy more BTC then we afford to. All crypto are traded in BTC pair, that mean they get to own our altcoins and the entire crypto assets at discount. Make them pay premium!
damdamm
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@KH2017LV, yes beaches should pay extra premium including barking touters putting FUD ideas on TV
lucky7btc.com
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@KH2017LV, Yeah I knew when Wall Street got their greedy hands on bitcoin it was a death sentence for BTC.
tyler-morrison
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Why even post an idea that essentially boils down to.... "It might go up or it might go down"? Y'all keep talking about bounces and then pretending that your previous "long entries" all got rekt.
Isn't that what analysis is? He's assessing the possibilities that it would go up or down. I don't see what he's doing out of the norm.
tyler-morrison
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@DatBomp, short answer – NO. Anyone with reasonable TA skills can see the overriding downward trend. However, ideas like this and others still give newbies hope about a bounce when it's really a false bottom while the market consolidates for another downward move.
DatBomp
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@tyler-morrison, "However, ideas like this and others still give newbies hope about a bounce when it's really a false bottom while the market consolidates for another downward move."
It's not like I wouldn't have sentiment for them, but these analyses do not say buy or sell, he even made a neutral one rather than a Long. If people want to take what DLavrov says as a signal for long that's their choice.
As to why, even when it's obvious that Bitcoin is on an overall downtrend DLavarov still examines possibilities for long: there would still be money in opening a short-term long trade. Even if that would pose a massive risk, this risk has been addressed in the analysis above without actually him showing any sentiment/personal opinion; he makes sure he is basing everything he's saying from his indicators, support and resistance.
bcredeur97
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My current thought is simply, sideways.
and that's ok -- for the long term, it's better even.
Why we should never let Bitcoin fall below it's fair value.
Alfaquotes.com created a mining-based formula for calculating Bitcoin Fair Value, which currently equal to $10547 on March 18, 2018.
CME and NASDAQ created BTC future market, so Wall Street can gain on BTC without actually purchase BTC. The idea is to prevent the out flow of Wall Street money into crypto. It also allow large BTC holders to sell large volume of BTC and purchase BTC future at the same time as hedging from the price fall.
Perfect idea, as a result, BTC price had falling from 19K to 8K today. Crypto traders see the opportunity, shorting BTC on margin and future trading. If this continued BTC will fall way below it fair value, miners may have problem continue mining BTC. Today BTC is still the earth/mother of crypto, this may change some day in the future, for now we should protect our crypto assets by protecting the fair value of BTC.
Buy BTC when it’s cheap, below fair value. Don’t let the bankers get our BTC cheap. They have more fiat then all of us combine. You short BTC under value, they can buy more BTC then we afford to. All crypto are traded in BTC pair, that mean they get to own our altcoins and the entire crypto assets at discount. Make them pay premium!