milanjelic

Bitcoin BULLISH OR BEARISH? Price BTCUSD Bitcoinforecast

POLONIEX:BTCUSDT   Bitcoin / Tether USD
This pictures gives insight about overall Bitcoin movement which is as you all can see BEARISH ONLY since December 17th 2017 and it will remain so for a while.
Bitcoin had almost two years for bullrun, now time of WIDE CORRECTION has come.
Don't listen to those who tell you different because, at the end, it's better to lose profit rather then money.
Don't let yourself get bulltraped because of some A rated professional amateur, because, if you already dont understand stock market, you can notice if someone has false predictions or not.

If you visit someones profile in order to make sure that his reputation matches with success rate (let's say 90% success rate is just fine), because generally, in this world there is no room for error.
Someone invest his money rallying on high reputated non moral person called market maker.
On the other hand we have newbie trader who is unable to distinguish if someone is either good or not that good.
He gives you 5 predictions, 2 of them come to be, 3 don't, so you will eventually end in minus.
Serious trader won't fail.
Serious trader should be moral person as well (not affiliate working for salary or percentage) in order to persuade people to buy something when it's not proper time for it.

Anyway, when talking about Bitcoin , RSI is decreasing as you can see on a chart (it has continuous dropdown ever since).
Bitcoin is now rebouncing over 8000 level of support, but that level of support won't be able to compensate any more than 2 rebounces (most probably just one).
Bitcoin dropped 4 times bellow 8000 value since rebounced from 6000 level, but considering that level should compensate prices pushing them above 8200, its sign of serious weeknes.
Bitcoin obviously doesn't have any more strenght for any serious movement (as it could not get that close to 9000 level and already started retracing (8680 price as i m writing).

I will update analysis additionaly,
i just wanted to share with people idea of GENERAL MOVEMENT, so we can decide about Bitcoin is it Bullish or Bearish .
We should wait for dips only.
That is only 100% chance for making 40%-50% proft.
Trade active: While bitcoin is pushing 9170 level in the moment of writing of an update, many people are talking about brakeout and bullish confirmation.
Those bullish people were also bullish two weeks ago, then bearish, bullish again, bearish and now bullish...
That tells that they really don't understand market contitions, otherwise they won't be buying stories about bullish Bitcoin ever since Dec. 17th, because we do have continual dropdown which will certanly "retest lows" once again, and after rebounce it will go even deeper.
Anyway, when talking about brakeout confirmation, we need to see prices over 9500 level, because between 9000-9400 level there is a zone of compensation, having in mind that resistance on 9000 level is not flat line.
Once again, even it Bitcoin breaches 9500 level, that price range is unsustainable having in mind it doesn't have healthy grounds for it.
Don't listen to the news, twitter, John Mc Coffee and his minions.
Use your reason.
Bitcoin is in state of perpetual downtrend and it will remain so.
Don't buy stories about bullish Bitcoin.
All those who oppose will pay expencive leasson (4th time in a row...)
Don't rush, don't afraind of FOMO.
You won't actually miss anything.
Trade active: This idea about Bitcoin movement and being barrish is not wishful thinking in order to "gain followers or upvotes" by promising non realistic prices (Above 15.000 level or so), so most people would agree with that.
How couldn't be?
Because that (non realistic price) fits to each and every trader holding Bitcoin or any other altcoin.
So everyone will press follow and upvote.
I' m just trying to explain that not everything could be observed through pink glasses, it's kind of that should be realistic that something (Bitcoin) goes parabolicaly without wide correction, because if goin' parabolicaly it will end up going verticaly at certain point, so everyone would earn.
But not everyone will.

(Today) People are mostly either bullish or mega bullush, but things will change.
In two days from now they will become bearish or mega barish.

My opinion is that Bitcoin movement like this perfectly fits into a bigger picture.
Judging by TA (i will post it additionally) and having in mind this is just a "sketch" (as it is).
Bitcoin doesn't have strength for any other movement above 9500 level.
If that happends (1% chance or no chance at all) that will be "artificial pump "
(some could buy 2000 Bitcoins at once when price "is about to breach" ) and with few flash investment, 10.000 level price, easy.
But the longer unsustainable price is present, the more and more money will be needed to "keep price on that level" so it will end up falling.
I will keep you updated
Trade active: So far this analysis is up to date.

Comments

Bull trap!
+12 Reply
Dude your consistency shows the size of your balls. We need analysts with the balls. We aint need swinging ballerinnas. Keep it up!!!
+9 Reply
Lion_Balls asdfghghj
@asdfghghj, totally agree all the others keep switching from bullish to bearish to bullish keep it up dude
+2 Reply
As always, you have never disappointed me with your chat. I don't wait a second when tradeview notifies me of your update before jumping to click in speeds of light. I will soon start unfollowing these other guys who unrealistic TA and prediction have put more hole in my pocket than it met it.

You are simply a God sent to this community. I see how some of these self acclaimed gurus keep bashing and criticising you here, but none has been able to deny your TA and predictions coming to past. Even during the crazy December bull run, everyone one was shouting 100k to the moon lambo shit.

Only you kept your cool and insisted we were heading in a bearish trend that we should be careful of our investment funds. Same thing has happened twice this year and your TA always come to pass.

I will always pay close attention to your TA henceforth before ever thinking of sinking my hard earned funds.

Thanks bro. So much love
+8 Reply
You should consider using a logarithmic scale, Drawing a straight line on a linear scale, is incorrect, as price movement reduces with the market cap.
+7 Reply
@MVPMC, I understand, this was meant to be idea about general movement only, without totally exact values.
I will post them additionaly as situation developes.
+7 Reply
Bear in mind that prices will always go higher than expected, but also go lower than expected.
+6 Reply
3000$ for BTC seems unrealistic, but it may well be the 'true price' of BTC. From then on the only way will be up. Don't buy at 9000$ or 6000$ but wait for prices around 3000$. The whales are playing with us. They are waiting for the lowest dips before they will start buying again. You just have to be patient and you will be rewarded later on.
+5 Reply
Nebrokk btcvdb
@btcvdb, You are wrong we will see each other at 11k-12k. Screenshot this :)
+2 Reply
Mihaly2008 Nebrokk
@Nebrokk, is it still bullish? Ha-ha :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter