A move (almost) no one is expecting: gap at $11795

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Quote from: pooya87 on August 08, 2020, 11:05:23 PM

and at this point the market has already shaken out majority of these weak hand newbies already.

The shake continues as the market is having a small correction today. This is a cycle which is going on and the weak hands is a term created to put a blame on someone Grin

.

Quote from: philipma1957 on August 16, 2020, 05:59:29 PM

It will soon be gone and we will be talking about 12850 as the new resistance.

The price of bitcoin touched around $12400 and the correction started, i was surprised to see that the price was trying to break the resistance when it crossed $12000 but it could not last longer, waiting for the market response in the next two days and i hope that the market will not go for a major correction.

aioc

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Quote from: pooya87 on August 08, 2020, 11:05:23 PM

Quote from: UnDerDoG81 on August 06, 2020, 10:32:03 AM

So how many sold because of this prediction? I at least guess op?

those who buy/sell bitcoin because of some random topic on bitcointalk aren't going to be left with any bitcoin/money in a couple of weeks. and at this point the market has already shaken out majority of these weak hand newbies already.

They will learned the hard way that these random topics should not always consider and let your own decision should be your guide, take a lok back what happen in March when news of pandemic broke out people are in a hurry to sell their stakes only buy them back at a much higher price, we should not like a domino who follows every movement.

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It will soon be gone and we will be talking about 12850 as the new resistance.

ultrloa

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Quote from: pooya87 on August 08, 2020, 11:05:23 PM

Quote from: UnDerDoG81 on August 06, 2020, 10:32:03 AM

So how many sold because of this prediction? I at least guess op?

those who buy/sell bitcoin because of some random topic on bitcointalk aren't going to be left with any bitcoin/money in a couple of weeks. and at this point the market has already shaken out majority of these weak hand newbies already.

Actually we can't blame newbies to shake up wince sometimes those fuds from random topic is convincing and if they afraid to lose more or cannot get a profit if they didn't dump at the moment the fud scattered. And for this things we need really a good educational topic about how trading actually works and how to define fud to reality, although its hard to find out but still there are indicators and certain articles that can help us for this things for our daily trades.

davinchi

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I think the best case we could have for this is to recheck what happened afterwards, which shows that bitcoin moved beyond $11.8k once again, so I assume it can't be that much of a big gap, the price didn't fall that far down, didn't went up that much, it is still around the same levels without too much of a trouble.

So, that tells me that it should not really matter all that much if the price went down or not, it would definitely change eventually but that doesn't mean that it will because of some gap, gaps always happen in bitcoin and they are always there but since we are talking about 5-10% changes daily sometimes (the high volatile days) those gaps suddenly become very worthless and useless. That is why I do not care about the current prices, I usually care what it could be in the future if the price suddenly changes a lot.

SquallLeonhart

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Quote from: pooya87 on August 08, 2020, 11:05:23 PM

Quote from: UnDerDoG81 on August 06, 2020, 10:32:03 AM

So how many sold because of this prediction? I at least guess op?

those who buy/sell bitcoin because of some random topic on bitcointalk aren't going to be left with any bitcoin/money in a couple of weeks. and at this point the market has already shaken out majority of these weak hand newbies already.

The thing is that people do not buy and sell because there is a bitcointalk topic about a subject, people buy and sell and that is why there is a bitcointalk topic about that subject. You do not understand why people open topics, when people talk about "this will happen" that is usually for the future, but when there is a gap, that gap is basically what happened because that gap was there, the gap didn't happen because there was a topic about it here.

However since there is a topic about it here, it could attract more attention towards itself. Those are very different reasons. Hopefully the gap is now gone and the resistance is higher right now, so I would assume the price could not go up easily anymore, sure it won't go down as easy neither so I think everything is balanced now.

pooya87

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Quote from: UnDerDoG81 on August 06, 2020, 10:32:03 AM

So how many sold because of this prediction? I at least guess op?

those who buy/sell bitcoin because of some random topic on bitcointalk aren't going to be left with any bitcoin/money in a couple of weeks. and at this point the market has already shaken out majority of these weak hand newbies already.

STT

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Selling would be the unusual part, everything appears positive now. The crowd of popular opinion is generally quite predictable in being cheerleaders and then also too gloomy on the lows when price is better 'value'. Was this supposed to be a ceiling, Im not sure its stopped or just hesitant as BTC often is. Its not even pulling back properly, the range here is much reduced over previously.

Lows shown here are weekly average but just today the lows have been 2 day average.

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Quote from: UnDerDoG81 on August 06, 2020, 10:32:03 AM

So how many sold because of this prediction? I at least guess op?

No one did even expect for the price hits up on this level on where OP predicted. Selling it off and secure profits because of tendency of price crash of 3k?

Its hard to believe to go back into those numbers but who knows if this one hits up the spot.It already hits up the initial possible peak price of this year and might be the
best time to sell off.

but somewhat the price is tanking into these levels atm.

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So how many sold because of this prediction? I at least guess op?

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Quote from: ene1980 on August 04, 2020, 04:10:48 PM

Quote from: LUCKMCFLY on August 04, 2020, 03:28:05 PM

My personal forecast is that it can hit $ 15k at any time, at least touching that limit.

As long as the market is breaking the resistance we could reach your prediction but it is hard to expect that it will breach all the resistance in the coming months, we might trade at this price range for a while before breaking another resistance and it might even take months, but these gradual movements is better than a big rally and a crash after that. We have a sell off today and lets see how it holds the support.

all possibilities can happen dicrypto, not a taboo and impossible thing to happen. any time there will quickly be a change.
the current trend is indeed quite good and it is very clear that the movement towards the increase continues.

However, optimism for a continuous increase could be missed because there is still a long time to go and the situation could change towards a decline which is still possible. No need to worry about the decline because bitcoin will quickly make corrections to return to the desired direction.

This is the time crypto starts to move excitedly to continue to increase, all because bitcoin continues to improve and has an impact on other altcoins as well. do not hesitate to invest in crypto at this time on all fronts there will be an upward movement. but don't invest in new tokens.

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Quote from: ene1980 on August 04, 2020, 04:10:48 PM

Quote from: LUCKMCFLY on August 04, 2020, 03:28:05 PM

My personal forecast is that it can hit $ 15k at any time, at least touching that limit.

As long as the market is breaking the resistance we could reach your prediction but it is hard to expect that it will breach all the resistance in the coming months, we might trade at this price range for a while before breaking another resistance and it might even take months, but these gradual movements is better than a big rally and a crash after that. We have a sell off today and lets see how it holds the support.

It's much better to keep small step upwards from time to time.

Not sure if this will continue to breakout and breach that value, but this positive trends keeps investors to see the potentials.

Just stay away from another possibilities of Ponzi and all those related business to scam people, remember that this scammers are always riding
with what the sentiments, and they keep bringing ideas to where uneducated investors are easily being victimized.

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Quote from: cryptomaniac_xxx on August 04, 2020, 12:28:13 PM

Yes, we have another pull back once we hit $11,800. Then move down to $11,200 then goes back momentarily to 11,400 and now it the current price. I would tend to agree that $7k is not going to happen as we have build enough momentum for a bullish signal. So I'm expecting that this pullback and eventual bounce to $12k-$13k, let's wait-and-see.

If you write down these movements not in dollars but in percentages, you will see that these are small things (compared to the usual large movements). And the movement to 7k will also not be fatal or record-breaking if you look at it as a percentage.

STT

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Quote

don't see the pullback to 7k happening anymore

i believe 7k is possible just from the belief of volatility over bullish or bearish traits, more then anything I think volatility is a bull market and we are heading towards greater price extremes in all markets from instability and transition in the basis of global reserve system. This makes many alternatives to plain dollar debt based asset and trade facilitated international exchange and in that transition we may get crypto, gold, commodities and alternate FIAT standards. That makes us bullish within a new paradigm but also with greater uncertainty then we've probably had for the duration of my life time. Obviously thats big picture and whats going to happen right now or even this year can be quite different and confined to a simple trend upwards, however I dont presently see that. I see possible breakout and confirmation required before higher prices, to go especially higher requires a ladder of regular trends. We arent especially higher, we're repeating the last year which is impressive recovery of course.

ene1980

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Quote from: LUCKMCFLY on August 04, 2020, 03:28:05 PM

My personal forecast is that it can hit $ 15k at any time, at least touching that limit.

As long as the market is breaking the resistance we could reach your prediction but it is hard to expect that it will breach all the resistance in the coming months, we might trade at this price range for a while before breaking another resistance and it might even take months, but these gradual movements is better than a big rally and a crash after that. We have a sell off today and lets see how it holds the support.

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Quote from: cryptomaniac_xxx on August 04, 2020, 12:28:13 PM

Quote from: buwaytress on August 01, 2020, 11:00:26 AM

So it took almost 2 months for OP's call (or rather, over 1 month late to reach his 11795) to take shape but it does look like it could be happening after all? Or not? I actually don't see the pullback to 7k happening anymore now as that ascent isn't as steep as it should have been. If there's a pullback, it may take 13k to trigger now.

Yes, we have another pull back once we hit $11,800. Then move down to $11,200 then goes back momentarily to 11,400 and now it the current price. I would tend to agree that $7k is not going to happen as we have build enough momentum for a bullish signal. So I'm expecting that this pullback and eventual bounce to $12k-$13k, let's wait-and-see.

This is a clear vision in the short term, but in a greater time frame, I think that we could be even in a small correction but with a view to aiming high, the volume seen in the market is considerable, according to how everything is going, it is a good time to be in Long. My personal forecast is that it can hit $ 15k at any time, at least touching that limit.

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Quote from: buwaytress on August 01, 2020, 11:00:26 AM

So it took almost 2 months for OP's call (or rather, over 1 month late to reach his 11795) to take shape but it does look like it could be happening after all? Or not? I actually don't see the pullback to 7k happening anymore now as that ascent isn't as steep as it should have been. If there's a pullback, it may take 13k to trigger now.

Yes, we have another pull back once we hit $11,800. Then move down to $11,200 then goes back momentarily to 11,400 and now it the current price. I would tend to agree that $7k is not going to happen as we have build enough momentum for a bullish signal. So I'm expecting that this pullback and eventual bounce to $12k-$13k, let's wait-and-see.

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Quote from: TimeTeller on July 31, 2020, 05:57:33 PM

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Quote from: GreatArkansas on July 31, 2020, 05:05:35 AM

Quote from: STT on July 26, 2020, 06:59:32 PM

A quick drop back to test the lows is what I expect but at present its not expected at all which would make it quite effective in terms of shock value. I dont think we get as high as 11.7k and if we do then its a bigger achievement then the market has achieved so far. I'd have to counter that we got as high as 11.7k then we have further business at that level, it will have beaten this range of some months which then would likely prove as support after we exceed it.
(....)

I am more positive to see $9,000 before $11,700 - $12,000. Maybe we can get more below but this can be happen with again, a huge red candle wicks.
Since July 28, 2020, bitcoin's price still on sideways $10,000+ - $11,100+, this is much better as long as we don't fall again below $9,000 but there are still huge dump effect once we fall again that area, just my 2 cents.
Small pullbacks will be healthy for Bitcoin, let's hope we will not experience a huge wicks, green or red candle wicks.

Expect the unexpected yet market has always been like this on where it do wreck hopes of anybody on least time we do unexpect.Im already readying up myself on possible dump wayback on 9k.

Im not really that too negative but its better rather than to hope that much market is way too unpredictable. 11,700 isnt really that far off since the price is already playing around 11,300+ at the moment and reaching

$300-400 wont really be that too long but who knows on on what would happen yet huge rejection might or might not happen and able to break it out and proceed to 12k price.

Better to have conservative estimates rather than be surprised on what's coming.
So as a trader/investor you can have your own contingencies and be prepared with what may happen to your funds.
Of course, you need to secure your investments especially that we are still in crisis and losing money is the last thing we want to have.
But, it has been a year that we experienced this price level, and so crypto users are happy for what we are experiencing right now.
Another day, another hope for crypto!

I agree that in this moment it's better to be conservative than to have exaggerated expectations. We've seen so many times recently Bitcoin price pulling back under 10000$ in short period of time so we can't say how is this going to end now. Although at the moment price is heading towards 12000$ we should be careful with investment so I would wait for a while before making any conclusions and taking a big risk.

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Quote from: bitgolden on August 01, 2020, 11:21:29 AM

I can understand that it could potentially happen if people could put enough money into it, however I believe even whales couldn't handle something like this.

There was a study from crabby that showed that you need about 90 million dollars cash injected into buy orders extra so that the price would go up 1% and that means if you want to reach another 10% that is another billion dollars and I do not think that whales have a billion dollars in fiat to get in and change the market all that easily. Sure they have some power, but this is not stock market, this is not forex, this is crypto which is decentralized and unregulated most of the time, and that means I do not think there would be some sort of increase in the price that easily and nobody would put in that much money.

Was this research done about a crypto? I think that liquidity here is very low (we have seen many examples of this) and with a volume of $ 90 million it is very easy to move the price not by 1 but by 10 percent or more. But this will be a short-term move.

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