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Why Bitcoin COULD Return To $3,100... - BTC/CRYPTOCURRENCY TRADING ANALYSIS

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This market trading analysis applies to various exchanges, including Bitmex and Binance. Tackling questions like if Bitcoin can reach 20k again and if we will be seeing a crypto currency market recovery this year. Things like the lightning network have provided huge improvements for BTC and while it is true that others like Roger Ver with Bitcoin Cash (bcash) may disagree, I do see these blockchain technology innovations to be very bullish fundamental signs for the space. https://t.me/forfliesgold To join VIP, click on my name (@Forflies) at the bottom of Telegram posts and message me. This is the only way to join VIP. LIKE + SUBSCRIBE! Follow me on Twitter: https://twitter.com/sami_loyal TradingView (where I chart BTC): https://tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=11710 Bitmex (for a discount on fees): https://www.bitmex.com/register/sk75q7 Books I recommend - Technical Analysis of the Financial Markets: US: https://amzn.to/2BMpaOY UK: https://amzn.to/2wcp9i6 Market Wizards: US: https://amzn.to/2PCzLyF UK: https://amzn.to/2od7v9q I make YouTube videos on cryptocurrency news, crypto altcoin analysis, bitcoin trading strategies and a lot more. You'll find a lot of videos on gems to invest in and learn how I've earned money using Bitcoin. None of my Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB) videos - or any other cryptocurrency videos/online posts - count as financial advice. I am not liable for any losses you may incur when trading crypto, always do your own research (DYOR). Business email: [email protected] - Forflies
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Text Comments (117)
Forflies (5 days ago)
Info on the Forflies Psychology course (priced at well under $100!): https://t.me/ForfliesPsychology
Roy Dakroub (5 days ago)
Will you notify us in the group?
Claudio Dio (5 days ago)
Would like to invest how much a beginner s invest
The Swing Trader (6 hours ago)
This might sound crazy, but could we see LTC drop over 50% to retest lows?
Gavyn Grimes (2 days ago)
As an investor, i’d say the bitcoin is actually my most profitable financial asset but i have had my very bad bitcoin moments especially during the peak of the bearish market experienced last year. I have been hodling bitcoins since 2014 and it was so fulfilling watching it ride with the bulls but then i lose almost all of it last year. Watching a video on YT got me interested in trading bitcoin but then i lost some more money trying to trade on my own. Thanks to a particular forum online, i got to read about some very successful trader and notable among them was Mark Hall. After contacting him and having a very informative but simple discussion with him, i got to understand all the reasons i had failed by hodling and what i did wrong as a trader. After using his signals and trade strategies for just a few months, i covered my losses of a whole year and made additional significant profit. He is just the best and you can reach him on [email protected] for any questions or inquiries you may have in order to be a more profitable trader.
nodaklojack (3 days ago)
Cryptocurrency is defying traditional trading. Because of its creation mechanism/aspect.....it's the wild west and has been since the first bitcoin was mined. The only way to trade is to do your homework or be an insider which is alright since the markets exchanges are worldwide and loosely regulated. Want to make money....be an insider.
Hills (3 days ago)
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Reggie Bigabytes (3 days ago)
8 minutes of the same illogical statement, "we haven't bottomed until we retest previous lows". Literally makes no sense. Previous bear markets didn't have their all-time low tested before trading higher. Traders and analysts do not make such a statement even in traditional markets.
Rob Perry (4 days ago)
A lot of bitcoin hodlers don't have that time. Why is their mental health of no concern to you?
N N Disconnect (4 days ago)
The bullish sentiment represented in the comments here - where the hell does it come from? I dont get it. Okay we could possibly continue the uptrend from here and not go back for testing but thats FAR no reason to stop looking at it critically.
Mister Nope (4 days ago)
He bought ?
Anthony Ferguson (4 days ago)
TA lesson one If the price breaks higher it could test higher numbers If the price breaks lower we could test lower numbers Thank you no fee needed
sagarrett (4 days ago)
Very Poor Info.
DarkSiderS Z (4 days ago)
2:03 i was waiting for you to say " why am i using this weird analogy again" xD
Adrian Widjaja (4 days ago)
Using the Elliot Wave, it is now doing the A-B-C wave or A-B-C-D-E wave. Which will lead to continuation of pattern after it does its job.
David Czajkowski (4 days ago)
Support doesn’t necessarily mean a number value. So, we could have our bear market low, while still testing the same resistance. It could merely mean a retest of the 200 weekly MA which is now around $3350.
Sam W (4 days ago)
Buy and hold shorting is to risky now buy every week don’t have emotions and panick we will moon at some point in the next two years. If it drops buy
nodaklojack (3 days ago)
A sane comment
jeffries (4 days ago)
Don't wait for the bulls ,don't follow anyone ,don't be a goat and wait for trends Be a fkn Bull like me . Feel like a man with big hairy balls.
tsetse rita (5 days ago)
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MrKoure (5 days ago)
Why would the market makers allow inverstors to buy the bottom twice? And how many times did we test the 6k support before we broke down? By now i don't think the double bottom is bullish anymore. I say either we saw the bottom or the bottom is lower than 3.1k.
Jose Fernandez (5 days ago)
It will go lower than 3100.😉
Jono S (5 days ago)
If $3100 again it means its NOT THE BOTTOM. You can only have 1 bottom. check the history.
J Wos (5 days ago)
We never tested the bottom in 2015.... so why does it HAVE to happen now? Never speak in absolutes, this is crypto!
المدرسة (5 days ago)
You don’t need to test 3100 again to confirm the bottom Nothing in Technical analysis says that you “must “ make a double bottom formation!!!!!
Xantimus Crypto (5 days ago)
'Need', 'must', feel', well that sums it up alright.....
PoopCoin Patrick (5 days ago)
No it won’t.
Erika heart (5 days ago)
Tron Dapp P3T gives 3% interest on deposit until no trx are left in the contract.
Lindia Sary (5 days ago)
Invest in P3T gest 3.33% one day
bella shofii (5 days ago)
tron dapp P3T gives 3 % interest on deposit until no trx are lift in contrack
hasonito deman (5 days ago)
the thing is 3100 was the 200 weekly moving average. we did test the 200 wma again in the 8th of February, by that time it was at 3350 level. This is what happened in 2015 as well, duobble bottom on the 200 wma. and a side way action for few months then bullmarket. it feels like theres not enough bearishness to break the 200 wma since its such a strong support. what you say about that?
Serge Pajcin (5 days ago)
Two scenarios in play from this level to 4440-4600 or down to 3500 and up to 4250i am currently long as of today on eth entry 130.9 liquidation 62 bucks
1greenMitsi (5 days ago)
bitcoin has a history of doing the opposite of what analysts say MUST happen...I remember people getting caught out in Q4 2013 when it was said that bitcoin MUST go down to $120-130 range and bounce off support (which was previous strong resistance). Bitcoin never revisited those lows again and shot up...a lot of ppl got rekt over that :(
Brad Franklin (5 days ago)
Just seeing so many moonboys on this backs up your point. Capitulation has not yet happened. Time to punish the moonboys once again!
daddli (5 days ago)
I bought 100 BTC in early 2011 when they were priced at $0.06 each. I knew at the time when I bought them that one day they were going to be worth a fortune. I can remember telling my wife exactly that, and she agreed with me. But the thing is, what I didn’t expect was for it to happen so quickly. I didn’t even think it would happen in my lifetime, I thought it was probably going to happen in my children’s lifetime. But, there was a lot going on at the time, our house had a dry rot problem, I had a lot of bills I needed to pay and debts I needed to pay off. So, I sold the 100 BTC I had on MtGox when the price was $4. I thought I would have plenty time to buy back in again. Shortly afterwards in 2013 the price rocketed up to $1,200. I had just lost out on $120,000. It was hard to bear as like I said, I knew they were going to be worth a fortune. I lost interest in bitcoin until its all time high of $20,000 where i bought 6 BTC which i saw crumbled to a mere $6,000. Bitcoin has burnt me twice but i kept faith and wasn't going to sell again like i did. This time around, i decided to try trading which i researched on until i met Barry Goddard *([email protected])* . Trading with his guidance has been my turning point and i pay myself every 2 months from the profit i make as a trader using his daily signals and trade patterns. That way, i earning continuously and i am not concerned about price fluctuation, bulls, bears and the unpredictability in bitcoin as my profit margin exceeds 400% ROI. His system is one of the best and by far the easiest to adopt.
Andrewm3 (5 days ago)
Market does whatever it likes, there is no must in anything. Also higher lows in recent times.
Joseph Galia (5 days ago)
Disliked without even watching. Don't ever say any asset MUST behave a certain way. The market doesn't care how many lines you draw
Craig Neeve (5 days ago)
if you are smart, buy in at 3300, dont wait for the 3100 level as you may not get it
Lud Wig (5 days ago)
Thanks
universalsheep (5 days ago)
what about the low of 2900? 2500? 1800? 1100? 600?
Alan Ahmedus (5 days ago)
These numbers you will not see again, dont fool your self.
Jerome K (5 days ago)
You know what people should do? Buy some now and hold some fiat back if its going down again. Be fucking prepared for both. You do not have to fear if you are prepared for everything
DotNetApp (5 days ago)
I have to slightly dissagree with you , yes i think we have to retest but not the 3100 but more the 200 weeks ema (the 3100 usd was only a test of this) and in the next 1 or 2 days 20w ema and 200w ema will collide and decide if it breaks down or up and will give a clear INDICATION if the bear market is over.
Madhu (5 days ago)
it is not necessary at all for it to do double bottom its an adam and eve pattern go learn ta before making the video
Jeremiah Gazsi (5 days ago)
I LOVE ANTI-INDICATORS!!!!!!!!
Mark Simborg (5 days ago)
Haha... BTC is not obligated to do anything!!
William Baker (5 days ago)
Whatever you "feel" is most likely wrong. Also, nothing in trading "must" happen.
Nooch (5 days ago)
This is ALT SEASON!!! Whales are profiting on alts right now and will soon be putting profits back into BTC! Same thing that happened in 2017!! The bull run has already started!!!
nodaklojack (3 days ago)
BTC on slow demise ....alts doing tech shakeout.....the mooner fight is Stellar lumens and DASH
Xantimus Crypto (5 days ago)
BTC moving sideways for a longer period of time = volatility in Alts.
Laura Anderson (5 days ago)
Bullish 💯✔
Laura Anderson (5 days ago)
Nice update
911zhenxiang (5 days ago)
Please proof your claim that there is no case in history that a second confirmation of a bottom didn't happen before a bull run ... can you?
ENCRYPT3DBR0K3R (5 days ago)
wrong - prepare for 5k
Raise Productions (5 days ago)
Moonboi
michael depaz (5 days ago)
Must to go back there because he sell at $3200 :D
decentradical (11 minutes ago)
It's how Technical Analyists hedge their predictions "If this happens, THEN this happens. And if this happens, THEN this happens". Then when the market inevitably moves either way then they say "see I told you that this would happen". You can always be right.
Michael Manfro (5 days ago)
Hope it does. Can’t wait to buy more!! Although I see a reverse head and shoulders
Fancy Powers (5 days ago)
Why wait till 3100? You can buy now it is only few hundreds high! It won’t make a difference after you become a bitcoin millionaire!!
Alien Grey (5 days ago)
Maybe it's just resuming the slow upward curve that it was on before the mania drove it temporarily to $20K and it then it corrected.
Robert Tomkinson (5 days ago)
There was no retest of the $150-$175 bottom in 2015. You might call that a wick if you want. But just as btc retested $200, then why can't you call retesting $3400-$3500 sufficient. The chart would look the same in both cases.
Cody Strang (5 days ago)
Gifted traiders?? But but bitcoin fund manager says head and shoulders, bam! $6,000. Jaja thanks for the good TA Forflies
Cody Strang (5 days ago)
I've been following a pattern that's been 100% accurate for over the past year now. According to that pattern we still have a leg down. Prolly to around $1800 and that's where the accumulation faze starts. Been in a short from $3886 by following my own TA. Riding that short to $1800. Watch
Cody Strang (5 days ago)
Yo man calm yourself. I was just giving him some credit for a logical TA. I don't necessarily think we gotta double bottom for the new bull run to start. We never double bottomed in 2015 so we don't have to double bottom now. I kinda just wanted to make fun of bitcoin fund manager and his retarded bam head and shoulders TA.
Madhu (5 days ago)
good ta my ass its all bull crap it is not necessary at all for it to do double bottom its an adam and eve pattern go learn ta before making the video
Alpha Omega (5 days ago)
I want btc at $500 so I can pick up 1 for fun
Martin Vreeswijk (5 days ago)
€ 1.00
Antonio Frat (5 days ago)
Contact on WhatsApp +18148220498
CryptoStang (5 days ago)
"Must" does not apply in crypto.
memphis3106 (5 days ago)
"Must" does not apply to any trading. Any trader that says "must" has already lost credibility.
zapols1 (5 days ago)
yeah only "save" and "when this year lambo"? is crypto language
Titus Maximus (5 days ago)
Moonboys should want it to retest support. Accumulate on the cheap. Moonboys should use more common sense. Moonboys buy alittle and then expect to make a million quickly. Hahaha!
David Arulnathan (5 days ago)
what if BTC never comes down to $3100....?? but keeps rising....you keep holding your BTC bag empty!!
Salomon Markovich (4 days ago)
you just buy on the dip
Robert Tomkinson (5 days ago)
+seven seems Lol!
Benjamin Williams (5 days ago)
This guy is all about longing & shorting on Leverage. Most of people in his group trade BTC on 100x Leverage. They want it to go back down and retest the low so they can saddle up with some bags.
seven seems (5 days ago)
that would make a lot of gifted analysts very angry
Herbert Pfeiffer (5 days ago)
Usuell your TA are excellent, exzept this one. Its wrong to say we have to rettest 3100 befor a bullmarket can start. See please The bearmarket 2014. 2014—1—14 T 163.88 C 176.84. this low was never retested, the bullmarket began 8 month later. Best regards Herbert
Never trust a feeling......
rhb30001 (5 days ago)
nothing NEEDS to happen period
Forflies (5 days ago)
Very true. I dont need to repeat these nuances in every situation, do I? lol
Vincent Jag (5 days ago)
Good support only needs to be support once...Also, why looking at it as a test of 3100, BTC restested 200 MA at 3300
Benjamin Williams (5 days ago)
Who cares if we have to go back to $3200. ALTs are pumping
nodaklojack (3 days ago)
BTC is losing market cap every day and alts are holding. Alts have so much more to offer and thats where smart money is.
Benjamin Williams (5 days ago)
+Brad Franklin every one knows BTC "should" retest the low. I would prefer to it to crash from 5k so it there's serious capitilization. A soft landing at $3200 sucks
Benjamin Williams (5 days ago)
+Brad Franklin they've already been pumping. ENJ went from 4¢ to 26¢. If BTC tests lows I'll short it at Bitmex. And then I'll have a really nice long to start the bull Market. I just don't understand why he all the sudden mentioned why BTC needs to go back to $3200 today... He's had 3 weeks to say this. Why was it so important?
Brad Franklin (5 days ago)
You have it quite backward. The reason you need to care about BTC to low $3s or below is Alts will CRASH if that happens. You have been warned.
Keith Villafana (5 days ago)
I feel like if 3100 was the bottom then smart money wouldnt let us have a chance to buy back down at that level
Laura Anderson (5 days ago)
Keith that's why now is the best time to invest/mine your Bitcoin cause holding coins won't make any money.
Alpha Omega (5 days ago)
Yep chance btc is dead is also possible
Quattrings (5 days ago)
True and in 2015, we never retested a "bottom". People who snoozed, lost. Maybe retest to 3400 rising support... As they always say, past performance doesnt quarantee future performance...
Robbin Hood (5 days ago)
what u thing about broken 3100$ btc?

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