{"id":388669,"date":"2019-07-04T22:00:03","date_gmt":"2019-07-04T22:00:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=388669"},"modified":"2019-07-04T13:32:09","modified_gmt":"2019-07-04T13:32:09","slug":"crypto-analyst-max-pain-bitcoin","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/crypto-analyst-max-pain-bitcoin\/","title":{"rendered":"Crypto Analyst: Max Pain Scenario Has Bitcoin Leaving Dip Buyers Waiting Indefinitely"},"content":{"rendered":"<p>At times, taking a contrarian stance in financial markets can be rewarding, other times it&#8217;s a fools game trying to go against the trend, and in crypto and <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> markets that offer little liquidity by comparison against stocks, both the risk and reward are significantly amplified.<\/p>\n<p>That&#8217;s why investors stand to gain substantially by being on the right side of the trade. In this case, much of the crypto market is overly bearish despite the bullish momentum, and it could cost those hoping to buy the dip. In fact, one crypto analyst says this is the most likely scenario \u2013 the &#8220;max pain&#8221; scenario \u2013 will leave dip buyers with unfilled orders indefinitely.<\/p>\n<h2>Buy the Dip? Crypto Bulls May Be Too Late<\/h2>\n<p>After painting a nasty looking June monthly candle, Bitcoin has risen once again above $11,000 and made another attempt at above $12,000. Yet the sentiment across the crypto market suggests that traders are leaning bearish, and expect Bitcoin to go back below $10,000 and potentially even go as low as $6,000. Extreme bears still exist calling for lows below $1,000, but there&#8217;s always extremes on both sides of the fence.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/07\/03\/crypto-analyst-bitcoin-technical-indicator-struggles-at-this-range-before-bull-run\/\">Crypto Analyst: Bitcoin Technical Indicator Struggles At This Range Before Bull Run\u00a0<\/a><\/strong><\/em><\/p>\n<p>But that &#8220;dip&#8221; everyone is looking to buy, may have already happened and buyers will be forced to suffer through FOMOing back in at a much higher price once Bitcoin refuels its jets and takes off once again.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> This poll shows the majority are sitting on the sidelines in cash, praying for a bigger pull-back to get in. The max pain scenario from here is up. And the people sitting on the sidelines will be the FOMO-fuel to new highs. <a href=\"https:\/\/t.co\/dpk3IfRjZ2\" rel=\"nofollow\">https:\/\/t.co\/dpk3IfRjZ2<\/a><\/p>\n<p>&mdash; Zen \ud83c\udf88 (@Zen_Trades1) <a href=\"https:\/\/twitter.com\/Zen_Trades1\/status\/71341568?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 4, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>One crypto analyst says the &#8220;max pain&#8221; scenario would leave so many people wanting to buy cheap Bitcoin, but are later forced to buy it at much more expensive prices. Not only would the move cause much &#8220;pain&#8221; and losses for investors, but the later buying back in would only further drive the prices up higher, leaving those later to capitulate and buy at high prices stuck footing the highest bill.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/07\/02\/poll-crypto-sentiment-bitcoin-price\/\">Poll Shows Crypto Sentiment Overly Bearish, Contrarian Bitcoin Price Move Incoming\u00a0<\/a><\/strong><\/em><\/p>\n<p>The analysts comments were in reference to the results of a poll shared on Twitter by published author of <a href=\"https:\/\/amzn.to\/2Xkxxqh\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">An Altcoin Trader&#8217;s Handbook<\/a>, Nik Patel. The poll showed 59% of respondents expecting Bitcoin below $10,000 once again, while a mere 23% said no. Another 18% simply selected to see the results of the poll, which could suggest the sentiment is even more bearish than the poll data suggests.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Will we ever seen $10,000 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> again?<\/p>\n<p>&mdash; Nik (@cointradernik) <a href=\"https:\/\/twitter.com\/cointradernik\/status\/38930433?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 4, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Bitcoin dipped below $10,000 briefly last week, setting a local low of around $9,600, resulting in over a 30% drop from the local high of $13,800. 30% or more drops in the past have led to an average 153% rise afterwards. Should this happen, a new all-time high would be set from here at roughly $24,000 &#8211; and the FOMO from those waiting to buy the dip might be the buying frenzy that takes us there.<\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>At times, taking a contrarian stance in financial markets can be rewarding, other times it&#8217;s a fools game trying to go against the trend, and in crypto and Bitcoin markets that offer little liquidity by comparison against stocks, both the risk and reward are significantly amplified. That&#8217;s why investors stand to gain substantially by being on the right side of the trade. In this case, much of the crypto market is overly bearish despite the bullish momentum, and it could cost those hoping to buy the dip. In fact, one crypto analyst says this is the most likely scenario \u2013 the &#8220;max pain&#8221; scenario \u2013 will leave dip buyers with unfilled orders indefinitely. Buy the Dip? Crypto Bulls May Be Too Late After painting a nasty looking June monthly candle, Bitcoin has risen once again above $11,000 and made another attempt at above $12,000. Yet the sentiment across the crypto market suggests that traders are leaning bearish, and expect Bitcoin to go back below $10,000 and potentially even go as low as $6,000. Extreme bears still exist calling for lows below $1,000, but there&#8217;s always extremes on both sides of the fence. Related Reading | Crypto Analyst: Bitcoin Technical Indicator Struggles At This Range Before Bull Run\u00a0 But that &#8220;dip&#8221; everyone is looking to buy, may have already happened and buyers will be forced to suffer through FOMOing back in at a much higher price once Bitcoin refuels its jets and takes off once again. $BTC This poll shows the majority are sitting on the sidelines in cash, praying for a bigger pull-back to get in. The max pain scenario from here is up. And the people sitting on the sidelines will be the FOMO-fuel to new highs. https:\/\/t.co\/dpk3IfRjZ2 &mdash; Zen \ud83c\udf88 (@Zen_Trades1) July 4, 2019 One crypto analyst says the &#8220;max pain&#8221; scenario would leave so many people wanting to buy cheap Bitcoin, but are later forced to buy it at much more expensive prices. Not only would the move cause much &#8220;pain&#8221; and losses for investors, but the later buying back in would only further drive the prices up higher, leaving those later to capitulate and buy at high prices stuck footing the highest bill. Related Reading | Poll Shows Crypto Sentiment Overly Bearish, Contrarian Bitcoin Price Move Incoming\u00a0 The analysts comments were in reference to the results of a poll shared on Twitter by published author of An Altcoin Trader&#8217;s Handbook, Nik Patel. The poll showed 59% of respondents expecting Bitcoin below $10,000 once again, while a mere 23% said no. Another 18% simply selected to see the results of the poll, which could suggest the sentiment is even more bearish than the poll data suggests. Will we ever seen $10,000 $BTC again? &mdash; Nik (@cointradernik) July 4, 2019 Bitcoin dipped below $10,000 briefly last week, setting a local low of around $9,600, resulting in over a 30% drop from the local high of $13,800. 30% or more drops in the past have led to an average 153% rise afterwards. Should this happen, a new all-time high would be set from here at roughly $24,000 &#8211; and the FOMO from those waiting to buy the dip might be the buying frenzy that takes us there. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":388707,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,6664,29527,3458,24360,4257],"class_list":["post-388669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-crypto","tag-nik-patel","tag-poll","tag-sentiment","tag-twitter"],"acf":[],"yoast_head":"\n<title>Crypto Analyst: Max Pain Scenario Has Bitcoin Leaving Dip Buyers Waiting Indefinitely<\/title>\n<meta name=\"description\" content=\"One crypto analyst says that the &quot;max pain&quot; scenario would leave Bitcoin buyers missing out on the dip and being forced to FOMO back in later.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/crypto-analyst-max-pain-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst: Max Pain Scenario Has Bitcoin Leaving Dip Buyers Waiting Indefinitely\" \/>\n<meta property=\"og:description\" content=\"One crypto analyst says that the &quot;max pain&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. 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