Topic: $9,800 will be the target for current uptrend, bullets are fired. - page 2. (Read 379 times)

I think the most important thing for now is to not focus on a recovery over the $10k level, which is why I prefer to remain a bit conservative till we're really out of the current phase. People in general tend to get bearish pretty quickly, and the same goes up for their bullish periods. I have noticed how people are already throwing with predictions again, but in current market the main point of importance is patience, because we will NOT move back up to $15k levels for a good while. In order to do so, the market needs a major bullish trigger, and whatever that turns out to be, is at this point still not known. It's really a great time for people looking to accumulate over a longer period of time.

Well just hold. btc is really too difficult to trade daily or even weekly. The volatility is too high and it's very easy to get trapped

Even though that we might have a resistance in that level I really think that many will keep on hodling because they certainly know that if we can overcome that resistance we can really hit the ceiling and beyond that, I really think that a massive wave going back to the recent All time high will be an indicator that bitcoin can go back and recover over that value.

Yup!

2H chart shows a good uptrend.
4H chart is ending the downtrend.

Currently, BRC is consolidating around $8,100, but is you take a close look at the daily chart, you will find that volumes are increasing, indicating that price is ready to move up, and the target will be $9,800. But the overall downtrend stays intact.

Check the analysis from Chinese analyst Kuang Ren and feel free to leave your comments:

Judging by volumes on hourly chart, this time, price holds greater chance to move above MA 5 again when compared with last surge as marked. Basically, the expanding volumes indicate the enthusiasm of main funds to push price up. That’s why I insist that price will break above MA 5.

$8,000 and $9,800 are strong resistance on daily chart, if price breaks above $8,000 tonight just like how it did that in last 2 attempts, it’s very likely for price to bounce back to around $9,800, meaning that positions set around $8,000 will be unlocked. However, we can’t make any judgement about how price will move after getting to resistance level. Please keep in mind that current wave of uptrend is only part of the pullback on weekly chart, bottom after current move is unknown to all of us. Being cautious is recommended.

Last week, I stated in my analysis that price will keep stable in the next 1-2 weeks, now price is moving as expected. You can hold on to your chips.

Original by Kuang Ren, translated by AICoin Jami.

Go to https://www.aicoin.net.cn/article/13337.html for full-version analysis.