Great post!!!!!!!!!!!!

Time to buy for sure! Even if it goes lower from here.

FYI... Upvoting replies to your posts, really helps the person replying (and you) so if you would upvote this reply - Thank you. :)

Awesome analysis, very clear. I can't decide on what to do right now and this helped. Whats 100$ more or less if the time is right, eh?

Good post here with the writer making an effort to present his thoughts in a clear manner. As for the points here - I sure hope you are right :) It's been a gloomy week for crypto investors. The past 3 days especially.

$3,000 sure looks like strong support, especially with the "round number" psychology (which is definitely a factor too). But I'm putting it at $2,850 or so - that was the high from last June, followed by a correction. This point was broken in August. I think this is very solid support.

By the way, hope you won't mind too much my putting a no-shame plug here with this link. It's somewhat related to your post. On how to minimise stress whenever the market moves against us.
https://steemit.com/cryptocurrency/@cendana287/how-to-minimise-stress-from-the-crypto-and-financial-markets-sharp-corrections

Plenty of FUD going around as the dark side looks to crush the rebellion!
<a href="https://imgflip.com/i/1vt3d6"><img src="https://i.imgflip.com/1vt3d6.jpg" title="made at imgflip.com"/></a>

Very good reasons. I also bought today, but nothing stops the price going back to $2700 in the next 2 weeks. RSI and Bollinger bands can change in the next 2 weeks.

Thanks for the Analisys!

I agree, I am buying now, in the worst case I made average with the other invest cost in the past and in the future.

that's a bad idea to buy bitcoins today... I would suggest to buy them at 2000$ because by october end they will go down to the floor.  you should be aware about the Pre-Order Mining contracts at Genesis mining (will be start from 31st Oct-2017) sold out in 2 days... millions of dollars they have made on it when the price was 4600$ of bitcoins... their contracts of bitcoins remain till they are profitable, difficulty, electricity charges & maintenance fee will increase  in October , hence the contracts on lower hashes will be automatically canceled.  therefore 40% contracts will remain in loss. Genesis mining will soon reduce price on contracts of Ether & Monero as they're still available & in not much demand. Count my words ! Cheers !

Thanks for your very good analysis! Maybe you're right. We'll see!

And meanwhile, we already have the massive bounceback rally happening... just *six hours* after you posted this I'm seeing BTC come back to cross the $3600 line. 

Definitely going to be a rollercoaster month...

Just buy now... buy...buy .

Thanks for shering information

I bought too. 

>Be Fearful When Others Are Greedy and Greedy When Others Are Fearful
.. Warren Buffett

https://steemit.com/trading/@igster/for-those-new-to-crypto-welcome-to-bear-market-and-some-resources-to-cope-with-it

My view on the market.

I found your post 3 days late but it seems you where right. will follow you for the next one.

It's still gonna go more down I guess and so does steem, yeah!

Finally some common sense online. I see panic everywhere, but I think the drop in price is at 3000 already bigger than it should be seen the fundamentals. I think it is because recently many new investors came in and are not used to the volatility of BTC. 

I think even if they shut down the exchanges, the loss in value is already priced in around this price. Finally Chinese people will find a way around and beside that Bitcoin is a global currency and taking off in many other parts of the world.

Also good news like a big Japanese company start bitcoin mining on big scale with more efficient chips seems not to be seen by the panicking crowd.

I have no money at the sideline to invest, because im heavily in already. If I had I should start accumulate cheap coins now. The only thing I will do is HODL!

Great post @penguinpablo

Thankyou for sharing @penguinpablo . 👏

@penguinpablo Interesting Tale. Hope you can get what you would like from this challenge. Have got a awesome working day. Upvoted.

Thanks for the technical analysis... very helpful. We have a great network here!

61.8% retracement levels mostly work

Smart choice to buy more !

I pray china should not ban btc trade..i like to trade with china

the bitcoin is best side int world..thanks for sharing...

I am also the same side as you are. These news do not have any long term impact on the bitcoins price.

Bitcoin is resilient and even if it goes below the $3000 resistance level i have a good feeling it is going to surprise a lot of naysayers when it hit $10 000 before 2018. Bitcoins has proven many critics wrong over the years and i bet it will do it again not to mention the many times it was said that it will die or crash. If bitcoin was a woman man she would be more beautiful than any super model out there.
@rogerblu

@penguinpablo The online market place is a wonderful industry for truth of the matter and lies. Now it is actually quite challenging to acknowledge where by the reality is.

Thanks @penguinpablo.

I think I will buy some BTC now :)

Gimme those Coins!! Do you make any other alt coins or just the ones shown in the picture?

Bunch of indicators pointing into the same direction. 
Time to buy :)

But some steem people :)

I really like to read this post, yesterday in aceh this became the talk, and for us this is an opportunity to buy steam, because we have not been able to buy bitcoin, I ask permission to @ penguinpablo to translate the entire contents of your post, for me write back in Indonesian, and this is my post today, and I quote your post: https://steemit.com/promo-steem/@steem77/impact-of-the-3rd-largest-bitcoin-exchange-in-china-on-the-promotion-of-steemit-in-aceh

Yoo @penguinpablo Nice post, tho you may be a bit early. According to the graphs you used from a TA perspective I'd say BTC should bottom around $2500 as $3000 is weak

Some support we have near $3000, just interesting how much bitcoins and altcoins Chinese have which they will sell because of regulations, scare, local info. We don't feel what's happening in China.

RSI is oscillator and it is good for the range trading, but now the range is broken, so RSI now is more harmfull than usefull. Support level is strong, and it is FIBO level as well, but it doesnot mean it can not be broken. If it happen, downswing will be dramatic, and we can see 1700-1500 soon. 
Conclusion - if one is greedy or risky then sure one can start to buy, but with short stoploss. More reasonable is to wait untill RSI turn upward and show a least sign of upward correction.

It is a great buying opportunity...I picked up a batch at $3400 and will do so in this range.

Have a bit more powder ready to get in if we pull back to $2500.

The only thing the news is good for is to show the mentality of the public.  As you mentioned fear is in the air.

@penguinpablo Your generate up is spectacular. Mad regard for sticking as a result of many of the hardships, Many of us would've Give up A great deal before. Upvoted.

Today is your lucky day. Congratulations.

I agree with you