Expected trading for today is between 5900.00 support
and 8600.00 resistance
Do you remember in Dec 2017, when bitcoin reached 19700.00 level
( When I moved my funds from BTC Wallet to USD Wallet ), people all over talked about BTC. Heard about it in the que at the local supermarket, people at work started showing off their crypto portfoilio and claiming everybody should get rich too. People that went into debt and took out 2 and 3 loans on their property!Do you remember, in Jan 2018, when I posted about the crash zone and about the decline below the crucial support 10700.00!
- Do you remember in Feb 2018, When I posted that bitcoin price will move deeply in the crash zone towards 6800.00 level before the middle of feb!
- Do you remember the parody "Bitcoin Trend / White House" that I posted, just to attract reader attention that we are under the war ( Banks & Crypto War )!
- Now the talk is quiet! 6.8k reached and the price of bitcoin tested 6.1 k
( 76.40 % Fib Retracement ) as expected.
The game between Bitcoin and major banks and credit card issuers, is so hard, the reason why you see bitcoin price now at 6.1k.
Could this because the banks are scared of losing power to the digital assets?
Are major banks doing so because they are scared of losing power to the decentralized world of blockchain?
Could this because they can't control and make money off of the cryptocurrencies the way they can with other assets?
A lot of question, no clear answer!
We have to wait and see the result of final battle of the war ( Banks & Crypto War ) !!
For now, most of financial analysts, see the bearish trend will continue to reach 5500.00 followed by 4530.00 and lower towards 1800.00!
My point of view the low of the year was reached / 6000.00 level / based on Fib Retracement and Ichimoku cloud, the reason why I moved back yesterday my funds from USD Wallet to BTC Wallet.
So for now I am bullish and I think that the price will breach 8600.00 level around the middle of feb.
Let us wait and see!
Expected trading for today:
is between 5900.00 support and 8600.00 resistance.
Expected trend for today :
Neutral to bullish.
Medium Term:
Bullish.
Long Term:
Bullish.
The low of the year:
6000.00 level.
The high of the year:
25000.00 level.
Bitcoin has almost completed the cycle and we should expect good bounce from $5500 level. It is almost 2 months now since bitcoin started falling and now we need 1 month of rise. Well, this is my expectations and I hope they come true and I am sure most of the traders will be happy with these expectations.
The perfect time multiple our money is getting near. We just need patience for this.
Correct said
What's your opinion about bitcoin cash?
I never got interested in bitcoin cash
Same here ..about bitcoin cash
My opinion is bitcoin cash would win in the long run. Let's see
On what basis?
Best news of this day! If you are right with this analysis, I wll call you "my master" from this day foreward!
Thanks for your daily view!
Thanks..
But no Master here ..
I just trade what I see and I hope that I still see clear..
Thanks for great support..
fantastic analysis friend and i just wish I had some extra fiat in my pocket to pick up some crypto at such low levels. Definitely a buying opportunity for sure.
Looking at the chart bounce back will occurred when the price reach as low as 6k, keep my finger cross cause 5.8k is the lowest and rebounce level.
Prediction have been mentioning all about once it bounce in the mid of Feb it will reach highest at 10 - 15k..
I do hope it will by end of this month.
I'm even expecting it to go down to 4K and if that happens, it's time to buy and buy ahaha
Do you remember good old times? Where you was able to look at your portfolio and smile?
I BEARly can...
This dip is necessary my friend. Market trend is always up and down. It's never "always up".
Cheers to that, this is going to be a monumental point where it lets the little guy back in and it may take the basement to initiate it, but it will initiate. Once that takes place prices will soar once again.
I can understand why a lot of people are afraid, especially if there is a lot of money involved, but honestly, the only way can lose is if you sell out at a losing position. I figured that I would either come out ahead or lose it all. Why not. It's all kind of a game, isn't it?
I see that you are neutral for the short term, but how long would that be by chance? do you think a month or so will be enough before another bull run, or do you think it's going to be more like 3 or so?
I think the bull run will start around the middle of feb
Note the bull run will start above 8600 level
Ok, thank you for the response! I didn't see it until now, but I appreciate it!
I’m interested in seeing what the SEC has to say about regulating crypto later today.
Thank you for your analysis.
This has stopped me from panicking, and I will increase my bitcoin holdings again at the right price.
Good luck@lordoftruth
This is a fantastic analysis of what is going in the crypto market. Hopefully the market will recover soon and we will get good value for our investment.
I am watching to see what the SEC will say about regulating crypto latter today,
i knew all about it that's why following you from the start : )
A very good and clear analysis of the short and long term bitcoin market. Thank you @lordoftruth!
A agree with this post. I'm not very confident that this is the bottom, but I am bullish on BTC come mid spring or early summer this year. That is of course, if no bad news come out from nowhere.
What a professional figure are you ! All that you said about btc happened exactly .I could remembered vividly two days ago you advice us not to buy at $ 8400 that btc will still fall to $ 6800 .And abide in that statement and it has profited me .I just they imagine the kind of loss I would have experienced if I did not read that your post.thanks very much my dear ,may God keep on increasing your wisdom and understanding crypto system in order to bless mankind.
so sad @lordoftruth
wow.. nice post. it's really good post. i like your post to much @lordoftruth . thanks for share the post.
Thanks for sharing your point of view! Let the bottom soon be in!
Thanks a lot for sharing your valuable post....
Best of luck..
I will still
wait your next post....
I tealize it so much... that's awesome.
and over all thanks for sharing..
keep it on
actually you are great or regreat always...
i follow you always sir...
keep it on...
upvote and resteemit done
I wish I've known you sooner :( Thank you for sharing!
actually you are great and your post
Hi @lordoftruth, nice to see your page, best regards
You’re a smart cookie selling bitcoins in December and buying now.
I too think it's going to hit the $4,500 figure, give or take. Eventually it'll start to bounce back, and bounce back high!
Thank you lordoftruth for making a transfer to me for an upvote of 9.13% on this post!
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It is the crisis moment for currency user.Now it imagines for us to thing bitcoin reached 19700.00 level!!!
I follow your blog that is most talented analysis.But this situation is unbearable
The days went down the bitcoin price .. I really did not dare try it... Thanks for sharing @lordoftruth
Bitcoin almost completed cycle ..
First comment on your blog from me. I agree with everything and I share more or less the same point of view for bitcoin - it is a coordinated effort by banks and governments (the establishment) to kill bitcoin. I could see it a few months ago and because I bought crypto mostly in November 2017, I was quite concerned of how the bitcoin price exploded - I was happy to make some money, but also very worried that bitcoin only attracted the attention of the reptiles. I just hoped we had a bit more time before a crash happens - my expectations were that we could see some more growth at the beginning of 2018 and then I expected a crash in March/April similar to the one we're having. There was too much media attention and too much euphoria for it to last much longer!
I am curious of your opinion of bitcoin price/future for 2018 and will appreciate it if you share it. I noticed you are bullish in the long term - 25K before the end of the year. While I believe this is possible, I have become more of a skeptic now with this crash and all the negativity surrounding bitcoin. This, for example is very concerning news:
http://btcpost.net/index.php/bitcoin-news/704-bis-wants-to-ban-bitcoin
In my opinion, it could take more than a year before we test 20K again. I am not a technical analyst and I might be wrong though. But so far many technical analysts have been wrong about bitcoin price as well.
Cheers!
According to the firm Autonomous Next, the number of hedge funds investing in digital assets like Bitcoin has grown rapidly to more than 100. Since the launch of Bitcoin Futures on the Chicago Mercantile Exchange in December 2017, it shouldn’t be a surprise to anyone why the price of Bitcoin is down 50% from the high.
bitcoin.PNG
Only Retail Investors chase price and buy high and sell low, while the Professionals buy low and sell high. The Hedge Funds have purposely sold Bitcoin futures to get in a better price.
At the moment, there is a war taking place between the buyers (Hedge Funds) and the sellers (Retail Investors) called capitulation. That line in the sand was at $9000. Capitulation is when investors give up any previous gains, by selling, in an effort to get out of the market. Capitulations are outcomes that result from the maximum psychological and financial pain that can be endured by a group before throwing in the towel. The Retail Investors are throwing in the towel after seeing a more than 50% correction in the Bitcoin price to the buyers, the Hedge Funds. With 100s of millions of dollars to invest, we are witnessing an accumulation phase by the Hedge Funds between $6000 and $9000.
The Hedge Funds are loading up and buying from the Retail Investors. But to fill all their buy orders, as the sell orders dry up, price must go down to the next stack of sell orders. We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.
The easy money has been made over the last 12-18 months. With the big boys in the game now, the rules have changes. The question is, are you ready to play to win with a new play book?
This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.
Thanks for sharing.
cognitively, I myself have been trading for about ten years, it is very good to find an ally in this not an easy matter, I will watch your posts!
Bitcoin is cool to invest on