Bearish divergence gave a signal that the market could reverse from 4900.00 level and start correction movement. RSI confirmed price reversal in the overbought zone. MACD histogram confirms downward movement. We have good signals confirming that the market can drop lower. Since the beginning of 2016 year, the market has passed through 5 correction movements. Every time the market bounced from SMA20. After that we got strong upward movements and new highs. Now we have the 6th correction. Like before, the market is going to reach the zone at SMA20. Like before, we have to expect for price reversal with further upward movement and new high. If you want to get cheap bitcoins             , the zone between 3200.00 and 2800.00 levels is good for buying. It's possible to open long positions without any reversal signals, just don't invest all money in 1 trade. If the market drops below this zone, the next zone for buying will be at SMA50. But falling to 2000.00-1600.00 zone seems impossible now.
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DLavrov, do you have an estimate for BTC in December 2017?
isnt december 2016 and february 2017 alsi a bearish divergence?
wow that was a drop, personally before i do anything i wait until the situation clarifies. If the chinese investors don't invest again, and most of them probably won't, because it's forbidden now it seems, how should the price raise to recent levels in the near future? millions are lost
+2 Balas
@ncx, I agree with you. I am new to crypto but my logic says that the market will fall even more. China is a big player in the BTC game and afterall the crypto boom of 2017 was a bubble but nobody wanted to admit it.

DLavrov why do you believe that the BTC price will not fall below 2000? Thanks in advance.
ncx DrStein
@DrStein, there's a strong support zone around 3000
@DrStein, look at statistics. https://cryptocoincharts.info/markets/info
China exchanges are not on the top by trading volume. Some of them (BTCC and viaBTC for example) even not in the middle. Other world bigger than China, so even one big player cannot destroy BTC ) This is just a FUD and price shouldn't drop under $3000. Too much resistance.
how much further dump do u forsee? thanks
I remember you were bullish a day or two ago, how did that work out?
$3000 will likely be a big test here.
$2500 could also be a test given that fundamentals in China are magnifying the market right now.
You say that falling to $2000 seems impossible right now.
You point out that SMA20 has not been broken during the 5 corrections this year.
But SMA20 needs to be broken at some point.
How many times can it bounce? ... 5? 6? 8? 13?
You cannot have a compounding gain of 50% every 2 months for the indefinite future.
It may indeed bounce again and go to $8000.
But it does need to break it at some point.
+4 Balas
Mister DLavrov awesome like always. So many thanks for share and share your TA knowledge. Trying to understand and improve my own skills(understanding wich indicators keep an eye on every situation up/down/lateral).
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