Topic: Another double bottom is being formed? Will BTC move higher? (Read 211 times)
We cannot really speculate in what price of bitcoin were heading. All of us can say for now is our own prediction to what price we can see. It has been stable to 11k so Im still hoping this upcoming months we can see its bullish trend.
We are hoping that bitcoin price will be moving again, but as what we can see the chart it was stabilized in $10-12k. It is pretty hard to imagine how deep it goes in these price from $19k to $10k, and it really makes people buying it in high price losing their money.
No one can know or predict what may happen next. It is better that we must not to be on hurry. We need to be patience and responsible on anything that may happen one day.
As you can see on the daily chart (https://www.aicoin.net.cn/chart/D331D4E2), another double is being formed right now, does it mean that BTC will move up in the next few sessions?
Here is an original price analysis from a Chinese analyst Eric Chau from Hashpai, feel free to leave your comments below:
Comments:
Basically, the bullish trend of broad market has been formed, though BTC is still suffering from the possible bearish factors, trend is inclining to bulls however main funds try to depress the price and accumulate chips. Even if there’s a bearish policy ahead, the market is expected to suffer less loses than it did on September 4, the possibility for a correction can’t be excluded. Target can be set near $15,000.
Suggestions:
Chasing after dips is not recommended though bulls are stronger than bears, but you can try to go long when price dips and pay special attention to the risks. Setup with heavy positions is also not recommended before bearish factors are completely digested.
Original by Eric Chau from Hashpai, translated and posted by AICoin Jami.
Here is an original price analysis from a Chinese analyst Eric Chau from Hashpai, feel free to leave your comments below:
Comments:
Basically, the bullish trend of broad market has been formed, though BTC is still suffering from the possible bearish factors, trend is inclining to bulls however main funds try to depress the price and accumulate chips. Even if there’s a bearish policy ahead, the market is expected to suffer less loses than it did on September 4, the possibility for a correction can’t be excluded. Target can be set near $15,000.
Suggestions:
Chasing after dips is not recommended though bulls are stronger than bears, but you can try to go long when price dips and pay special attention to the risks. Setup with heavy positions is also not recommended before bearish factors are completely digested.
Original by Eric Chau from Hashpai, translated and posted by AICoin Jami.
There's indecision in the market. The question is whether to buy or to sell and obviously the sellers are keeping the price down at the moment. But I'm sure that the price will continue to move up from this point. The analysis is spot on, the target can be set at $15k for the short term once a pump gets under way, before it corrects and moves even further up. But the short term target is definitely $14-15k.
Already seeing some pumps now. We'll be breaking the $200 billion.
Me too, $10,000 is definitely a psychological barrier, I will be really pissed off if we go sub 10k for any sustained period of time.
Exactly, we won't be going under $10k. So the room for losses is miniscule.
Every time Bitcoin gets close to the sub $10,000 range I have a small heart attack, as it means we could be about to break major resistances all the way to the $7,000 area. It looks like a typical no-trade zone for me. As long as we don't go either way I wouldn't take any decisions.
Keep your cash and wait for a dip or for a breakout would be the classic move in this situation. Double bottoms in bitcoin are rare but they can happen, but still I would apply a no trade range for the $10,000-$14,000 area approximately.
Keep your cash and wait for a dip or for a breakout would be the classic move in this situation. Double bottoms in bitcoin are rare but they can happen, but still I would apply a no trade range for the $10,000-$14,000 area approximately.
Me too, $10,000 is definitely a psychological barrier, I will be really pissed off if we go sub 10k for any sustained period of time.
Not really digging the info out but it certainly does look genuine for bitcoin since it rarely happens on the charts. Not really an experienced guy in trading but have read a few bits about double-bottoms: it's either you fuck it good or they fuck you hard. As for me, I'd still keep my cash for the mean time and see how the market reacts then trade and try to go with the flow. Normally, a double bottom often ends with a nice push, but in the case of bitcoin, there's still a big chance that it hits rock bottom once it breaches the major resistance of $10k.
We'll see how would this develop in the next few hours.
We'll see how would this develop in the next few hours.
I have also see that on both weekly and monthly charts at poloniex trading platform. The double bottom is a sign that bitcoin is about to go up in pricing and if you notice that the best thing to do is to join the new trend that is about to form. double bottom is a bullish signal and I do used it very well in commodities trading.
Every time Bitcoin gets close to the sub $10,000 range I have a small heart attack, as it means we could be about to break major resistances all the way to the $7,000 area. It looks like a typical no-trade zone for me. As long as we don't go either way I wouldn't take any decisions.
Keep your cash and wait for a dip or for a breakout would be the classic move in this situation. Double bottoms in bitcoin are rare but they can happen, but still I would apply a no trade range for the $10,000-$14,000 area approximately.
Keep your cash and wait for a dip or for a breakout would be the classic move in this situation. Double bottoms in bitcoin are rare but they can happen, but still I would apply a no trade range for the $10,000-$14,000 area approximately.
v
As you can see on the daily chart (https://www.aicoin.net.cn/chart/D331D4E2), another double is being formed right now, does it mean that BTC will move up in the next few sessions?
Here is an original price analysis from a Chinese analyst Eric Chau from Hashpai, feel free to leave your comments below:
Comments:
Basically, the bullish trend of broad market has been formed, though BTC is still suffering from the possible bearish factors, trend is inclining to bulls however main funds try to depress the price and accumulate chips. Even if there’s a bearish policy ahead, the market is expected to suffer less loses than it did on September 4, the possibility for a correction can’t be excluded. Target can be set near $15,000.
Suggestions:
Chasing after dips is not recommended though bulls are stronger than bears, but you can try to go long when price dips and pay special attention to the risks. Setup with heavy positions is also not recommended before bearish factors are completely digested.
Original by Eric Chau from Hashpai, translated and posted by AICoin Jami.
Here is an original price analysis from a Chinese analyst Eric Chau from Hashpai, feel free to leave your comments below:
Comments:
Basically, the bullish trend of broad market has been formed, though BTC is still suffering from the possible bearish factors, trend is inclining to bulls however main funds try to depress the price and accumulate chips. Even if there’s a bearish policy ahead, the market is expected to suffer less loses than it did on September 4, the possibility for a correction can’t be excluded. Target can be set near $15,000.
Suggestions:
Chasing after dips is not recommended though bulls are stronger than bears, but you can try to go long when price dips and pay special attention to the risks. Setup with heavy positions is also not recommended before bearish factors are completely digested.
Original by Eric Chau from Hashpai, translated and posted by AICoin Jami.
Jump to: