Topic: Bitcoin 2020 Update: Bearish Structure Intact but Bullish Signals Emerging (Read 144 times)
January 07, 2020, 10:23:42 AM
Despite the major move yesterday, potentially setting up a daily sfp at the highs now.
January 07, 2020, 10:11:58 AM
Quote
Resistance: $7,525 followed by $7,721-$7,861
We have broken that resistance right? as the price seems to be moving along the $7900-$8k range. But it will be interesting to see if we can get over that $8k in the next 24 hours, otherwise we might see some minor pullback in the range of $7200-$7600. So let's see how it goes.
No we clearly haven't broken the 7,900$ resistance. Even if we technically go way past that it takes more than just going above that level to confirm that we indeed have broken it, if you look at the movements after we got their you were clearly see that Bitcoin went down after which clearly tells ys that it was just a fals break out on that level, if it only stayed in that level with volume for a few hours then this was a clear breakout but now we got off too early so it was a false one. However the good thing about this is we went up 300$ in just one day and maybe just maybe 7,800$ is the new support level.
January 07, 2020, 09:43:22 AM
Quote
Resistance: $7,525 followed by $7,721-$7,861
We have broken that resistance right? as the price seems to be moving along the $7900-$8k range. But it will be interesting to see if we can get over that $8k in the next 24 hours, otherwise we might see some minor pullback in the range of $7200-$7600. So let's see how it goes.
yes prices already touch 8000 usd . this recent rise is intereced and i hope it will continue to level 9000 usd at latest . recistance already broken this is the important
January 07, 2020, 08:17:39 AM
We've already reached $7.8k, and currently, over the past few hours, it actually showed a sideways movement which is a positive reaction IMO. Now the only thing left is to wait and see if it would actually continue doing so for the next few days, cause if so, then we could say that it successfully broke through the $7.8k barrier and is pushing towards the $8k barrier. The slight decline of a few hundred dollars form $7.9k probably shows that it needed to retract a bit to consolidate the push it did. It never had any foundation since the push of 5% was done by around a few hours only, and it going down to make a sideways movement instead of continuous movement shows promise.
January 07, 2020, 08:08:12 AM
Quote
Resistance: $7,525 followed by $7,721-$7,861
We have broken that resistance right? as the price seems to be moving along the $7900-$8k range. But it will be interesting to see if we can get over that $8k in the next 24 hours, otherwise we might see some minor pullback in the range of $7200-$7600. So let's see how it goes.
Now it seems there has been a slight decline but I do not deny this will be even deeper because bitcoin will continue to move within the next 24 hours.
$ 8,000 will soon be reached in my analysis so that this will continue and make new breakthroughs on the old bitcoin journey not recovering.
January 07, 2020, 06:42:42 AM
Quote
Resistance: $7,525 followed by $7,721-$7,861
We have broken that resistance right? as the price seems to be moving along the $7900-$8k range. But it will be interesting to see if we can get over that $8k in the next 24 hours, otherwise we might see some minor pullback in the range of $7200-$7600. So let's see how it goes.
January 07, 2020, 06:38:54 AM
Latest post in my weekly Bitcoin and Crypto update can be found here, discussing Bitcoin's outlook as well as Ethereum and a few alts
https://www.cryptoadvocate.net/post/bitcoin-2020-weekly-update
https://www.cryptoadvocate.net/post/bitcoin-2020-weekly-update
Gave it a read. Here's the TLDR version
Quote
I think it will go up but it may as well go down, please use my referal links when trading, this is not financial advice disclaimer to cover my ass just in case.
January 07, 2020, 06:36:22 AM
Idk when you made the analysis but it seems it was before the 7.8k was breached. Currently, the highest the price has reached for the week is 7.9k, and just lacked that bit of momentum to push for an $8k breakthrough sadly. Maybe because of the failure, the price has seen a decline, approaching the 7.7k closely. The price has already dropped from 7.9k earlier to 7.8k right now, and it doesn't seem like it intends to contend to another push. Might just be preparing and actually holding its charge so it could push through the $8k level though.
if you look at the current chart it seems like it will push out from $ 8000 in just a few hours or days from now, learning from my experience of trading usually a market that has been stable for some time will push up very hard, but this is slowly we are directed to take that price, at least not many people throw more under $ 7,000This path to every changing price has been a history from last 2019, it was around November after huge spikes took over. That was just a mere attempt which suddenly fall back under $8k, $7k and touched slightly at $6k. I only hope after this another attempt, price will develop a minimal dumps so that it will surpass $8k then increase more higher.
January 07, 2020, 05:28:19 AM
Anyway, because of the new year, volatility might not be very strong for now until we have approached either the next month.
Price action suggests otherwise. Gold has seen a violent boost in price, so does Bitcoin but it's less violent for us because we're used to these movements.
We had a solid close above the daily 50EMA. It didn't close just slightly above it, but it closed a bit under the 89EMA. I do however find the price to go up too fast and the volumes are somewhat lagging behind. Until we actually see wider time frame change of behavior, there isn't much for me to get really bullish on. We've had plenty of such increases and they all were sold off afterwards.
Just relax and let the price do its thing. Getting bullish every single time the price goes up will only lead to disappointment during a macro down trend.
January 07, 2020, 05:27:36 AM
Idk when you made the analysis but it seems it was before the 7.8k was breached. Currently, the highest the price has reached for the week is 7.9k, and just lacked that bit of momentum to push for an $8k breakthrough sadly. Maybe because of the failure, the price has seen a decline, approaching the 7.7k closely. The price has already dropped from 7.9k earlier to 7.8k right now, and it doesn't seem like it intends to contend to another push. Might just be preparing and actually holding its charge so it could push through the $8k level though.
if you look at the current chart it seems like it will push out from $ 8000 in just a few hours or days from now, learning from my experience of trading usually a market that has been stable for some time will push up very hard, but this is slowly we are directed to take that price, at least not many people throw more under $ 7,000 January 07, 2020, 04:15:26 AM
Idk when you made the analysis but it seems it was before the 7.8k was breached. Currently, the highest the price has reached for the week is 7.9k, and just lacked that bit of momentum to push for an $8k breakthrough sadly. Maybe because of the failure, the price has seen a decline, approaching the 7.7k closely. The price has already dropped from 7.9k earlier to 7.8k right now, and it doesn't seem like it intends to contend to another push. Might just be preparing and actually holding its charge so it could push through the $8k level though.
January 06, 2020, 10:28:08 AM
From my view I'm still seeing a bearish not only in structure but also signal. If the last candle from the second chart is anything to go on, it is showing a south move but I don't know if this will really happen or if it is going to change by another candle formed after that. Anyway, because of the new year, volatility might not be very strong for now until we have approached either the next month.
Could certainly see price go back to low 7's and still be bullish
January 06, 2020, 08:12:25 AM
From my view I'm still seeing a bearish not only in structure but also signal. If the last candle from the second chart is anything to go on, it is showing a south move but I don't know if this will really happen or if it is going to change by another candle formed after that. Anyway, because of the new year, volatility might not be very strong for now until we have approached either the next month.
January 06, 2020, 07:33:51 AM
Interesting articles about the price of bitcoin and ethereum in your weekly update all of them in your article.
I also have my own chart and here I am certainly not as great as you are. I will match my chart if there might be similarities inside, because I really like trying challenges like this.
I also have my own chart and here I am certainly not as great as you are. I will match my chart if there might be similarities inside, because I really like trying challenges like this.
January 05, 2020, 10:46:32 PM
Latest post in my weekly Bitcoin and Crypto update can be found here, discussing Bitcoin's outlook as well as Ethereum and a few alts
https://www.cryptoadvocate.net/post/bitcoin-2020-weekly-update
https://www.cryptoadvocate.net/post/bitcoin-2020-weekly-update
Jump to: