[Graft]

(05-23-2018 08:32 PM)PharaohRa Wrote:  

It looks like 2018 is following somewhat the pattern of 2013 in that after the big spike, it trended downwards for 2 years only to stay flat for 2 years and climb upward in 2017. I think that this pattern will accelerate faster only because more people now recognize cryptocurrency. However, they are still shaky due to the direction of the market.

For anyone who is thinking about buying, I would wait until the bottom is reached (could be 3 to 4k or 6k or 7k). Once the bottom has been established, then buy with both hands!

2 year downtrend-2 year flat is a long time this late in the game-multiple blockchains are getting major adoption and huge projects are in talks with governments. It's not like 2013 where it was mostly bitcoin speculation.

[Dvorak]

(05-23-2018 09:55 PM)Graft Wrote:  

(05-23-2018 08:32 PM)PharaohRa Wrote:  

It looks like 2018 is following somewhat the pattern of 2013 in that after the big spike, it trended downwards for 2 years only to stay flat for 2 years and climb upward in 2017. I think that this pattern will accelerate faster only because more people now recognize cryptocurrency. However, they are still shaky due to the direction of the market.

For anyone who is thinking about buying, I would wait until the bottom is reached (could be 3 to 4k or 6k or 7k). Once the bottom has been established, then buy with both hands!

2 year downtrend-2 year flat is a long time this late in the game-multiple blockchains are getting major adoption and huge projects are in talks with governments. It's not like 2013 where it was mostly bitcoin speculation.

Might go down a bit more, but no way we are getting a 2 year flat trend.
Might stay choppy/depressed for a while, but next bull run will probably be bigger than the previous one. I would be very surprised if we don't have one this year.

Banks and big companies are now hiring crypto people, setting up trade desks etc... They know what's coming and they want to be a part of it.

[gework]

(05-18-2018 05:32 AM)gework Wrote:  

Now, we're looking at going down. I think it will very likely go back to $7K over the next week

Currently at $7,300 and it looks bad.



Those Bollinger Bands are starting to squeeze hard; and the squeezes usually correspond with considerable movements and trend shifts. The last time we had a major squeeze on 1W candles was October 2016 when Bitcoin was $630 and started to FOMO up to $20K.

The bottom band is currently at $6K and that was the support it bounced off in November when it boomed up to $20K. It's roughly bounced twice off $6K twice since.

All MACDs are pointing down. RSI is also getting close to pushing below levels not seen since Aug 2015 when it bottomed to about $170; and was where the bull market started.

Compare to the Gox crash.



It pinged off the bottom BBand and then doubled. If it does that again we are looking at a ping off $6K and then doubling to $12K, which is a potential target I eyed. Alternative is it just plunged. But you can tell from this thread and others there are plenty of people who will buy at $5-6K. But

(05-18-2018 05:32 AM)gework Wrote:  

my longer term sentiment is that the movements up and down will get smaller and we'll move towards dribbling down with a few anemic pumps. If it breaks $6K I expect it to test $4K and at the lowest $2K.

If it gets around or below 30 RSI on 1W it's all in. Bitcoin has always been a killer buy and bounced off 30 RSI. That's what I'm waiting for as a hold. Though will likely buy this current dip.

[Orson]

"Crypto Crash?" Incoming Bitcoin crash is the name of this thread.

I note that most Roosh fora at this mometn have around 100 visitors, while this particular one has only 5 or 6.

Does that fit the definition of a Bitcoin Crash?