[ Trading ] HUGE Bitcoin breakdown over the weekend, but is it over?
I was getting ready to watch the Blitzbokke vs England 7’s final when I saw Bitcoin break down hard to a low of $6681 on Bitstamp. I was shocked, but I should not have been as there where many commentators on Youtube and Tradingview predicting it.
So why did I not sell last week? Or should I sell now? Or should I buy more Crypto?
I watched a video Tone Vays and Tyler Jenks made earlier before the breakdown and they are still predicting $4975 in the next 3 to 4 weeks! See their video below:
Here is the daily update from Dan at The Chart Guys and even he is very cautious:
I added an ETH bot on Thursday so it is not a good start. I ‘’forced’’ sold some lots to give my Bots more wiggle room to buy at lower prices. But now I am wondering to sell more holdings.
My overall profit to date is up $40.91. I am still up, but my profit is down $24.14! ☹
Please give us an Upvote if you think this info was helpful. It will help my online business a lot and I hope to return the favour soon.
Thank you. :)
PS. Hot tip 1, Remember don't upvote this post if older than 7 days, you are wasting your voting power!
PPS. Hot tip 2, when buying upvotes, do it in the first 3 to 15 min of posting. You get 90% to 100% of curation rewards.
PPPS. Hot Tip 3, upvote your own post in first 3 min. You will get all of it back.
PPPPS. Hot Tip4, I love buying upvotes after 20 min of making a new post. Make sure you upvote before I buy upvotes to get your share of the curation rewards.
Thank you for your support.
Regards
Colin Brazendale
Email: [email protected]
Facebook: https://www.facebook.com/colinbrazendalesinternet/
Youtube: https://www.youtube.com/user/czb1972/
Website: http://www.successwithcolin.com
More information about me:
I love Steemit and I have been blogging here since June 2017. I am always looking for ways to increase my Steem and SDB holding. Lately I have started trading bitcoin and altcoin using an auto trading robot. So far it is going well, and I am in profit. 😊
Most of my time is spend on internet marketing for my clients on Google Adwords, but I also love network marketing on the internet.
I have been cloud mining for the last 2 years, but stopped promoting it due to the low returns from Jan 2018.
Why I joined Zukul Trade:
How to get started with Zukul Trade:
Proof of earnings 18 May 2018. The auto trading bot made $170.88 in the last month in down market.
Contact me via email [email protected] for more info on the auto trading bot.
Market sentiment is very low now. So do we follow the bear herd down?
I am moving some crypto into USD. I am waiting for things to cool down and I would like to see it Tone and Tyler is correct with their $4975 prediction.
Bitcoin still has alot of major support levels that need to be broken before we think about the $4,975 region. $6,410 is the next major region that price could reach, the previous time price reached this level was also after a sharp bearish move and we then witnessed a strong bullish bounce off this level. If price doesn't find support before it fall below $6,000, Tylers prediction could be met.
Thank you for your input @stevewakeham. What is your longer term view of the Bitcoin price? Are bullish or bearish?
Long term I am still very bullish. Once price finds the bottom of this bearish run i believe we will see price regain value and creep towards new highs at the end of the year.
I trust we will find a bottom soon. Have you seen Haejin Lee's alternative view? Re-posted it today.
I think so too.
yap this is correct decision.
I think it's a good idea for the time being. But if the prediction is correct, then there's going to be a lot of trouble in the crypto market
There will be trouble, but crypto will not die. It is here to stay. Bitcoin has been here before like 2014, but came out stronger.
It is all doom and gloom
I consent with you, I just hope it won't take so long to gain back it's value
btc has proven itself time and time again.
Sounds like a smart move.
Barring some massive whale support, I reckon we're going down to $5700, then $4500-ish and bounce there:
https://steemit.com/cryptocurrency/@tradealert/bitcoin-dips-under-usd7000-lower-price-expected-before-the-end-of-june
PS: Chart!
I starting to believe you, Tone and Tyler. But still don't like it. :(
It might be 2014 all over again mate, just like the bull market took the price higher than what anyone expected, I think the bear market will do the same... only in reverse. We need some real pain before we can start a new cycle.
Maybe there will be enough pain if we go down to $6000 and then up. Maybe we don't have to see $1300 like the $150 in 2014. I heard that some long term holders are thinking of selling. Even I was thinking that yesterday.
Bitcoin will rise again
Yeah, who knows where the actual bottom will be, here's my take on that:
https://steemit.com/cryptocurrency/@tradealert/bitcoin-exchanges-wash-trades-and-bubble-burst
STOPThe sharp bearish move over the weekend signifies the power the bears have at the current time in the market. I believe we could still see price move lower with the next major area of support being found between $6,630 - $6,410. It is unlikely that we will see a reversal or even a stall in this bearish movement until we reach these levels.
This bear market is becoming very ugly.
I trust the worst is over
You got a 2.16% upvote from @upme thanks to @colinbrazendale! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
Good upvoting bot
I have been saying this for weeks that the Feb lows were going to be tested. All bounces should be sold. Once those are tested and the initial break is flushed. Then we reassess. Until then it’s lower.
Maybe we will see Feb lows, but I don't think we will see $1300 again Like Tone is indicating.
I don't think or hope so
$5,000, $3,900 and possibly $1,800 zones on the cards.
It is possible and yesterday I was fearing $1800. But I don't think it is probable.
I hope that there will be one more down move max and then up we go.