JPM says Bitcoin is going to $4,600 or $14,300 in the short term, thanks

in bitcoin •  7 years ago 

In a report out by JPM, their technical analysis points to a move down to $4,600 as fairly likely at this point.

However, it also points to a move to $14,300 or even $16,300 if near term resistance levels are broken.

This kind of rhetoric is quite common among technical analysts as all TA is based on probabilities and "if then" statements.

It is not good for predicting, but instead good for charting possibilities based on previous price patterns.

Which means, they don't mean a whole heck of a lot other than making for interesting talking points.

However, if you are into that sort of thing, here is some tidbits from their report:

"Bitcoin's recovery from a low above $5,900 earlier this month was "impressive". Still, we see a "fairly high risk" of a sell-off towards the $4,605 level if the digital currency doesn't break through its resistance level between $10,128 and $10,776."

(Source: http://www.businessinsider.com/bitcoin-price-jpmorgan-warns-theres-a-highly-fair-risk-the-bitcoin-sell-off-isnt-over-2018-2)

There you have it, IF we don't break $10,128-$10,776 area in the near term, prices are likely to head south down to $4,605.

However... and this is a big "however":

"Above $10,776 though, the door for a broader countertrend rally to $14,334 if not to $16,304 (76.4% on different scales) would be wide open."

So, if we are able to break the upside resistance levels in the near term, prices are likely to test the $14,334 to $16,304 levels.

To conclude...

Prices are likely to go down and they are likely to go up.

We can't say for certain which is more likely.

Thanks as always JPM!

Gotta love TA.

In some real news...

Check this out:

https://www.forbes.com/sites/ktorpey/2018/02/12/microsoft-to-embrace-decentralized-identity-systems-built-on-bitcoin-and-other-blockchains/#24e6f9745ada

Microsoft announces that they are going to implement blockchain technology into their ID applications.

Currently all ID systems are controlled by a central authority. Microsoft is working on a decentralized ID system that isn't controlled by any one party.

Both bitcoin and ethereum were mentioned in the news release.

Now that is some news worth sinking your teeth into!

Stay informed my friends.

Follow me: @jrcornel

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Wow!!!
I hope
It will grow.

gentelbot
Thanks forvoting
Greetings Berlin

Thanks for the analysis!

"Bitcoin is going to $4,600 or $14,300"

Volatility is the main word that comes to mind for me when I think about crypto. I am still learning myself a lot about it but I find it funny because it seems as if this is the trend today, criticize Bitcoin/Crypto, then turn around and say that crypo is "unlikely to disappear" I think while various crypto like currencies hit lows, companies and big figures are going to keep talking negatively about it.. acquire their own portion, and then talk highly of it to pump up the price.

As for "Microsoft announces that they are going to implement blockchain technology into their ID applications." I have a lot of faith in Microsoft turning to the blockchain rather than Google/Facebook. I'm also not sure how long that this has been a feature, but Microsoft is already allowing you to redeem Bitcoin!

Micro - Redeem Bitcoin 2.PNG

Still very curious as to what Microsoft has planned for the future, but if it's digging in its roots now, it's choosing the right time.

Where is the bitcoin option available as a payment?
Respectfully, this looks like a shop-job.

Respectfully of course.. lol

Go to https://account.microsoft.com/ then log into your Microsoft account, then scroll down, there will be a section that look something like this,

Micro - Redeem Bitcoin 1.PNG

Companies have always, really always their own hidden intentions behind open source technologies. So I stopped using Windows on my desktop and laptop machines. I switched to Linux (kubuntu) and from then on I'm pleased more and more with this open source operating system. Almost all crypto are implemented open source and code is mostly written on Linux machines.

I'm not surprised that Microsoft pick such an important field as personal data is! Smells on Big Brother evasion!

So what the BrainTrust at JPM is basically saying:
284D2949-A39F-48DC-B19F-5AF048EFCE2B.jpeg

Basically.

Hahaha an image worth 1000 words and this one has nailed it xD

So the price can go up or down ;p It is quite simple you don't have to draw 10 lines to know this. I heard that technical analysis is very helpful in daily trading but not for long-term.

yep, they said basically nothing.

You nailed it!

No, silly. It's TA, not guesswork. Geeze.

Yup but I doubt 4,600 will be reached. No one will let it get that low people have buy orders set. WHALES will come like no tomorrow if it goes to 5k.

That is where I will buy :)

I hope it goes down to give me a chance to reset time and buy a whole btc easy lol

They are saying that because of bitcoins next resistance level but it has survived that so let's see.
I am hoping for the best as i have to buy MacBook.

dude i have to buy a macbook to

Best of luck for that. when are you planning to buy it?
Here is my small vote to support you in that.

So the price can go up or down ;p It is quite simple you don't have to draw 10 lines to know this. I heard that technical analysis is very helpful in daily trading but not for long-term.

what a wide range...

It doesn't really matter if the price went down. It is actually a good chance to buy more if that's the case, then wait for it to go up again. We've already seen BTC went down couple of times, yet in every dip, it easily rises way more than the amount it decreased from. But with this prediction, it might encourage people to buy more.

Imagine how much whoever came up with this range, gets paid. A person could literally know nothing about bitcoin and give an estimate as broard as "4000 or 16000", more evidence that the banksters still don't know what they hell they're dealing with.

It's always interesting hearing what JP Morgan has to say about anything! Usually you can bet against them and make a pretty good living! Lol. Bitcoin in my belief isn't going anywhere but up at some point in the future! I don't believe it will go to zero. I've only been in the crypto game for 3 months now! I'm just learning some basics, and it appeared to me that Bitcoin isn't really going to be useful for enterprise, and just a digital store of value. This didn't appeal to me much but a couple days ago it dawned on me the true value of Bitcoin! I wrote a quick article for anyone who's interested! Let me know what you all think! Thanks for the post! :-)

https://steemit.com/bitcoin/@brettcalloway/why-bitcoin-will-never-go-to-zero-it-s-a-treasure

Definitely more upside potential than downside risk. These guys at JPM are trying to accumulate coins at a lower cost by spreading these kind of predictions. I’d be better off flipping a coin to determine my entry points than listen to them.

Haha probably true! That might be part of it, though as you know, fear sells better than optimism. :)

It really does. Not to mention it gives me the opportunity to take advantage of all the sheep who listen to them and buy their cheap coins when they panic sell.

This is so typical... I love it though and get a kick out of it every time. Basically, it can go either up and down. If it doesn’t go up, it will go down. End of story. Genius proclamation.

Yep, if it goes higher, it will probably go a little more higher. If it goes lower, then it probably goes a little more lower... genius!

I think I’m going to apply to be a part of their trading and analysis team. What can go wrong?

You guys haven’t addressed the sideways factor yet. Otherwise I think you’re ready! High and lower or low and higher.. yup, you’re ready!

This 4k thing is not a good dream that should come to pass man! I am seeing it break that resistance and probably hit 10k plus before the end February.

That is what I am thinking as well. But as you know, fear sells ;)

Mehn! selling is not what I am planning of doing soon. I stock BTC when it was 18k and it went deadly deep, though fear came in but I am still gonna hodl. We will get to the moon soon. Two coins I believe in is BTC and ADA.

Don’t forget about Steem and EOS. Oh, and NEO, too. And Monero!! Ok, I think that’s it..
Litecoin, and Litecoin! “Ok, I think that’s it.....”

you are right @dandays, EOS is a good project too that I have been following up for a while but I have not stocked yet.

hahah why do all these replies look like theyre auto responses by a bot? anyways, I was never a huge fan of TA ... everytime it seems like I read one the conclusion is, it could go up if it goes up, it will go down if it goes down ... lol. thanks for sharing

That is probably 90% of it. :) IF it breaks this upside target, it probably keeps going higher, mind boggling!

Wow this is very good findings. Looks like they're focusing on whether an inverse head and shoulders pattern plays out.

So it’s definately going up........ unless it doesn’t! Then it could go down!

Good analysis, let's hope it goes up

If it goes 14000 then it's good. We can make profit. If it goes to 4000 then it's good also. We can make "more profit" later.

I agree. I wouldn't mind buying a couple at $4,605 and then selling them for between $10k - $16k. The more volatility, the more chance for profit.

Joomanji intensifies

lol love the commentary. Thanks for sharing. if JPM is going to be doing TA it'll get interesting to see if they turn bullish if the resistance breaks.

Anyone who listens to the crooks at JP Morgan deserves all they get.
Use what JPMorgan says as a contrary indicator - do the opposite!!

let's test that upper resistance. I wonder if their clients will flock in once it's broken...

If we go down to 4K...

We go up 14K right after!!!

What if the price stays about the same? I never here about that TA.
-///////-

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Bitcoin has chronic ADHD so we sell calls and buy puts because it never stays in one place very long.
Lets all say a prayer it brakes out.
Great post as always @jrcornel

What platform do you buy those through?

I am sorry JR, it was just wishful thinking on my part, at least for now.

Absolutely. A rise in Bitcoin makes me feel safer in my personal financial and economical world.

Thanks for the helping info... Friend @jrcornel
U5drc43Tcu22vttaiAHTPsQP5tVNm7m.gif

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information is very remarkable friend, I really like your post,
Bitcoin has recently been popular as an investment vehicle. Those who invested their assets in bitcoin believe that this form of investment is safer than other investments because it will not be affected by the banking crisis that often happens as in the United States and Europe. Similar to gold, bitcoin can be bought when the price is cheap, and sell it when the price is high.
bitcoin is believed to be a currency and a universal commodity so that prices will continue to soar.

  ·  7 years ago (edited)

Great report by JPM! I wonder why they didn't add the possibility that the price will go sideways forever. That way, they would cover all their bases! Any direction the price goes (or stays), they can say: "We told you so!".

Seriously now, unless another series of terrible news comes, I see bitcoin preparing to jump over the resistance very soon, and from there... who knows? I would say "to the moon", but I hate that expression.

It is crazy that these people are highly paid to make wild guesses. They could just hire some teenie bopper YouTubers to pump the price.

The bitcoin will rise to 50 thousand dollars.

or maybe $80,000 by the end of this year

THE bitcoin? xD

yes!

I hope that this will happen

I think the price is really going to be contingent on the risk appetite of the over all markets. When the major indexes started to get volatile and sell of a lot of the cryptos went along with it. Now, the markets are going back up and so are the cryptos. So, for now everything is based on the over all health of the markets in general.

I'm quoting a dialogue from Wolf of the wall street to summarize the situation.
"Number one rule of crypto. Nobody, I don't care if you're Warren Buffet or if you're Jimmy Buffet, nobody knows if a crypto is gonna go up, down, sideways or in fucking circles, least of all brokers, right?"

Really Great Analysis!
I resteemed and upvote. Always great content from you. I am new to Steemit, however I have been trading the foreign exchange for 5 years now. Here is my analysis, will be updating later today as well: https://steemit.com/cryptocurrency/@kid-martin95/bitcoin-btc-usd-morning-analysis

What do they know, they are late to the party!

It will be interesting to see what their strategy is when they set up their crypto trading desks, under the volcker rule banks are no longer allowed to do proprietary trading (speculative).

However, not sure if this will extend to the unregulated crypto asset class?

Price is going to up of Bitcoin after Feb in my opinion. It might be the same for the rest of the market.

Interesting article!

Checkout @cryptobroye for more bitcoin info and analysis. Im sure there's a lot we can learn from each other!

thanks for the info!

They also called it a fraud so I really never take anything they say with a grain of salt.

this is true because bitcoin is going to hit a huge raise in its place by the end of the month feb we would be able to see a good price of bitcoin because it is been known to raise to $60000 till the end of year 2018

Nice to see your post.realy good news.great job.

Price action has been annoying, not low enough to be a huge buy and not breaking out either....

It will either be a downhill or an uphill battle

There is a much bigger probability for an upward trend in my opinion.

great info!

I think there is going to be mostly sideways action until around May when they have the consortium if trends follow last year. Get in before then as I think certain coins will have a major breakout after that.

If Bitcoin is saved from the momentary crisis it enters, I think it will grow through $ 20,000

good post. I really like it, always success brother

Maybe the writer was dared to write a minimum 500 word article about nothing but make it look like something? Are they hiring??

the entrance of the Asian capital, after the year end of them, besides using many other positive news then the trend will be bullish no doubt my bet is for it

Great post thanks for sharing .

Radical talk by mainstream as usual.

JPM The Stupidity at its Best !

It's a great pleasure to meet you. I'm Leo.
I will visit every day.

Nice to meet you Leo, I'm Jason. I look forward to you stopping by! :)

Life would be boring if a crystal ball that reads the future were a real thing!

Thankfully, it doesn't exist and the best we can do is make educational guesses at what the future holds, based on close analysis of similar circumstances in the past. You're right to say that TA is purely probabilities and thank God for that! There would be no society if we could all know what the markets would do. We'd all be rich and retired and nothing would ever get done, lol.

Being rich would not be boring, I'll take that crystal ball.....it's about knowing the future for making money, not knowing everything that will happen

You're missing the point.

If everyone was rich, they'd have no reason to work (for income). Society would fall apart and your money would be useless. Nature was very smart to program this algorithm so that humanity can't foresee the future. If it weren't that way, our odds of evolving into something more/ greater would be slim to none.

How can you gain a competitive edge if every person has full clarity of what will happen in the future? Answer: you can't!

Which brings me to my next point. Even if JPM had a crystal ball, there's no way in hell that they'd share their findings with us - for the reason that I stated above. Why would they give away their competitive edge? Answer: they wouldn't because there's not a cold chance in hell that they're that stupid.

we could do just fine without 80% of the jobs out there,,,, like all the jobs at JP Morgan/ Chase

Where's the incentive to be the dudes or duddettes that work their collective asses off for hours per day to provide the tech, or to do maintenance work on the robots that manufacture the tech, in this resource based economy?

I know if I were a billionaire, I wouldn't even think about working another second in my life. I'd go full vacation mode. If everyone joined in on my vacation there'd be nowhere to vacation except out in nature, because all tech would die without the thinkers and workers to provide it.

Lets see,,, who paid the LINUX and APACHE developers,,, who paid Shitoshi ????? many people do things out of LOVE,,,, and the majority of GREAT INVENTORS over the ages (Tesla, Wright Bros, Salk) have done their advances at their own expense,,,

True. Some people are just creators, in it for the love of creating. Some, too, are relatively selfless.

The question is: are there enough of these types of people to sustain a cashless society? Enough to thrive?

I wouldn't bet on it. My guess is that we'd slowly regress as humans, back to our more ape-like ancestors, if we're lucky enough to stick around long enough for that to happen.

I think we are at the point where it could be done,,, less than 1% create enough food for the world, most the people in the 1st world are "service" jobs,, a huge percentage are in banking, government, mlitary, insurance, law enforcement, etc. Most these jobs would be unnecessary and people with "free time" could, as we discussed above, CREATE and follow their passion,,, aka "Self Actualize".... I think society would move forward to a new paradigm, not revert to the old tried and nonfunctional ways.

Oh no, the 4k doesn't look good.
Let's stay positive and hope on the upside break of 14K or more :)

nice of them to narrow down the possibilities there.... LMAO

In market speculation, "if" statements are inevitable, what we do not know though is, which of them is the most probable?

I think it can go either up or down.

JP Morgan lead by Jamie Dimon (Chairman, CEO and President of JP Morgan) is working hard to become the centralized authority in Bitcoin and all Crypto Currencies... why would anyone doubt their technical analysis?

This made me laugh, thanks! So if Bitcoin is $9000 now, JP Morgan is basically saying that it might lose 50% of its value or gain 150% of its value, and either scenario is equally likely. That's helpful. Heads I win, tails you lose.

Wow... Thanks for the clear direction JPM. Hmmmm lets see..... given the market conditions it is quite possible that Bitcoin will either go down... or up. Tell us something we don't know. Why bother even throwing information out to the public if ist is absolutely useless. I think that these big financial supergiants are seeing their grip on the financial infrastructure of the world loosening as Crypto becomes more widely adopted and supported by both the public and business sectors. And with governments getting involved the JPM's of the world are realizing that they better start getting in and making a statement. That's all fine and good, just dont waste our time with nonsense.
On a positive note I am super excited to see what Microsoft will come up with in the crypto space. They have long been innovators and I am interested to see if they can transfer that to the blockchain.

Bitcoin is very impressive really but it doesnt mean there is only it, until now it dominate very well, thank you for the post

thank you. quite an interesting and insightful analysis.

brother is not surprised to see information that says the price goes down just look at the market capitalization taking strength to know that we will go up I am sure that the price will break in this next attempt so stay on track and not believe in the jpm predictions. @jrcornel thank you also for your point of view

That's good~ :)

@ jrcornel - Jamie Dimon is certainly a smart man and CEO of one of the largest financial institutions in the world. But he may have some ulterior motives to making these price move claims.

JP Morgan just recently founded their cryptocurrency trading desk & he may want the price to go down so that his team can buy more Bitcoin at lower price points. Just my opinion. I've upvoted - followed - resteemed your post. Keep up the quality content & crypto information.

It might go up, or it might go down. Or maybe it might stay the same.

These are my TA predictions and 35 years experience.😂😂

  ·  7 years ago (edited)

i think it doesn't really matter what JPM says , a new technological revolution is here and we are all part of it.
that's what makes it powerful , btc is the future.

Why listen to these criminal bankers?

If bitcoin goes high in this 2 month, all will change and wise versa steem price will also increase, looking forward to see this

wow!Nice to see your post.realy good news.great job

$4000 or $14000 really narrows it down doesn't it might as well say bitcoin could go up or down.

I say the dollar is going to zero back!

It matters not where bitcoin goes as long as the competition is cheaper to use. What is Western Union going to JPM?

Awesome post! I invite you to visit our blog and vote us back! And of course to enjoy our content :)

Nice to see the price levels. Anyway, I expect the jump to at least $10 000 with an impulse. Here are my waves (see my latest post for the details):

We are going back to that low of this month, that´s almost guaranteed, I just don´t know if it would go to $4,605 because it seems to be to lower considering the market evolution...
So I´m expecting the markets to follow your blue prediction!

I do forecasting and I use probability, you could visit my post in here : https://steemit.com/bitcoin/@cryptobility/forecasting-bitcoin-prices-february-2018
I predicted btc for feb 2018, I agree there's a possibility btc might reach $ 4,600. Thanks for sharing a good post. :)

Gotta love some good old critical thinking and discussion. Thanks for sharing

Bitcoin is weaker then the shy bulls would like it to be and stronger then the weak bears are these days. I have a feeling that not too many people want to sell at these levels, and few wanna buy. So there you go baby: choppy market where if you dont know what you are doing, you are going to take loads of bull traps and lots of bear traps untill your portofolio is worth nothing. Then you might ragequit. But no worries. You will come back.

hallo i am a newcomer in steemit
please help friend

Happy Valentine’s Day sir...

Nice post you are great...

4k or 14k... ahh whats the difference!

Well let us hope for that much wanted, upward trend!

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The price of SBD for today on 14 February 14, 2018 shows a positive sign of strengthening. this positive trend occurs in the early morning, the price of SBD strengthened from the previous price. The price of SBD at 02.00 in the day which is 63,339 Rupiah for one SBD. SBD prices continue to soar slowly, from hour to hour continue to show a positive trend. See it at 04.00 am selling price of 1 SBD worth 65,281 Rupiah.

thank you @jrcornel for sharing information

great analysis.
most probably it will reach to $14300 mark.

I hope who ever or any group that is manipulating the Up and Down in price of Bitcoins would get tired pretty soon!

Its controled by the market

hi i am a beginner in steemit

All FakeStream financial news is a self-fulfilling prophecy. It's up to crypto investors to not listen and certainly not act based on the same old players causing sell-offs so they can buy things up cheap. Oldest trick in the book. Don't take the bait.

Yes, I'm also pissed off reading such silly TA. It sounds like If it will rain take umbrella and if will be sunny take sun glasses. This is not a prediction at all!

In my TA I include ifs and thens but always take a stand and decide for one option. In recent times, I start to trade a small portfolio according to my analyses so the readers can see an effect of my wisdom.
More can you read here @, this is my last Bitcoin analysis.