Bitcoin is moving sideways for day, Where to from here?

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Quote from: FinneysTrueVision on November 26, 2020, 09:32:07 PM

A big correction was to be expected after how fast it had been rising in recent days. Institutional demand is still high so I don't expect it to go down much further. Altseason came and went because there was nothing their to sustain their momentum. Alts only benefited as a consequence of Bitcoin going up. BTC still has a lot going for it and I expect it to go back up and reach it's ATH in early 2021 or even late 2020.

Last 48 hours has being highly volatile as from above 19k fallen almost 3k and then now slightly better as it around 17300$ mark. But yes would be relieved if it can start to rise and cross 18k and get stable else still if corrects more from here then it could be bad for holders as it can slip to even 15k or below. If can get stabilised above 18k would be happy for this year considering how it struggled at crossing 10k price for months.

Gotumoot

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It has stop at $16.9K I think it is just getting ready before hitting a new ATH.
But I could be wrong about it the market does unpredicted moves so it is hard to know what would happen next.

btc_angela

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Quote from: TravelMug on November 26, 2020, 07:20:07 PM

Yeah, its sideways but what can we do? a retracement had happen because of numerous rejection to the $19,500 price and no new ATH. And it is reported that around a billion worth of bitcoin of futures contract get liquidated. This liquidations happens every 4th of the month, every 25th if I'm not mistaken, so obviously the price did go down at a rapid phase once liquidation started.

So I'm thinking that:

(a) we can bounce back from this dip
(b) it will continue to go down hard
(c) could trade sideways again, until another imminent break out and then march towards a new all time high

I'll prepare to see the price trading sideways, Why? so that at least everyone should not expect a massive spike on the price again. And then we have plenty of opportunity to buy the dip. The thing with a massive run is that when it goes down again, many are going to be REKT, specially those who buy at the top.

It seems though that the bleeding has stop, and the support is holding very nice at $17k.
So let's wait in the next 24-48 it everything has cool-off and expect the price to go on sideways.

BuNga_cute

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Even though now the Bitcoin price is correcting, the support price at $ 17,200 is quite strong, so I predict the Bitcoin price will recover
in a few days. My advice is to use the present moment to buy Bitcoin, Moreover, the demand for Bitcoin has not decreased, There are
even several articles that I have read on the internet that say institutional interest in Bitcoin is still high. This means that the price of
Bitcoin at any time can be pumped much higher than the previous price.

FinneysTrueVision

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A big correction was to be expected after how fast it had been rising in recent days. Institutional demand is still high so I don't expect it to go down much further. Altseason came and went because there was nothing their to sustain their momentum. Alts only benefited as a consequence of Bitcoin going up. BTC still has a lot going for it and I expect it to go back up and reach it's ATH in early 2021 or even late 2020.

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Quote from: TravelMug on November 26, 2020, 07:20:07 PM

Yeah, its sideways but what can we do? a retracement had happen because of numerous rejection to the $19,500 price and no new ATH. And it is reported that around a billion worth of bitcoin of futures contract get liquidated. This liquidations happens every 4th of the month, every 25th if I'm not mistaken, so obviously the price did go down at a rapid phase once liquidation started.

So I'm thinking that:

(a) we can bounce back from this dip
(b) it will continue to go down hard
(c) could trade sideways again, until another imminent break out and then march towards a new all time high

Hard to conclude as all those ideas are possible to happen, another risky decision both if you are trader or investors who
wanted to place your entry nor with holders who are planning to cut some loss.

It's important to do deeper analysis, as if the first statements above hits the market and the very reason of this downfall
eventually new investment will flow and the market will proceed much stronger.

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Quote from: TravelMug link=topic=5291520.msg55691201#msg55691201 date=1606436407
(a) we can bounce back from this dip
[/quote

This will be the best scenario for me since the market is getting better and this is just a small correction as of today. We are about to hear many good news early next year, and that can boost the trend of Bitcoin which I think will end this year on its stronger price. We still have the chance, and the sideways trend can still be changed, this is not the end of the trend yet let's hope for that.

TravelMug

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Yeah, its sideways but what can we do? a retracement had happen because of numerous rejection to the $19,500 price and no new ATH. And it is reported that around a billion worth of bitcoin of futures contract get liquidated. This liquidations happens every 4th of the month, every 25th if I'm not mistaken, so obviously the price did go down at a rapid phase once liquidation started.

So I'm thinking that:

(a) we can bounce back from this dip
(b) it will continue to go down hard
(c) could trade sideways again, until another imminent break out and then march towards a new all time high

wxa7115

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Quote from: TitanGEL on November 23, 2020, 05:20:12 AM

There is now an established new support at $17,600 and I expect that it will be a major support wherein there will be huge demand in that area, the price seems pausing for a little bit but it doesn't mean that a crash will happen. The price is just gaining more power and demand before it able to have a solid momentum. I'm talking about triple digit gain and the price of the bitcoin can achieve it after it finally pierce $20,000.

I really do not think that the trend will be now a sideways because the demand is still high and the bullish side is still dominate the market wherein there is still greed. Do not be afraid especially when the emotion in the market is greed because there is a high chance that the price may become more expensive so be prepared in the best scenario that may happen and it is the reason why you should not create a plan to not miss the golden opportunities.

Currently we are seeing a major correction the price has gone down 12% today and it seems the tendency is for this continue for the rest of the day, we knew a correction was coming since a strong resistance was to be found near the ATH as people got worried that a crash was going to happen and they decided to sell before it occurred not realizing that their own actions are what is actually causing the correction.

But whatever the reason now a correction is taking place and I think that even if many do not like it this is healthy for the market as it was impossible to keep a positive trend like that forever.

STT

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Sideways can be a price corrected by time rather then altered substantially in price more obviously. Its a bit more boring but sideways can be surprisingly bullish, never short a dull market is one turn of phrase maybe a hundred or more years old.

So Im trying to guage weakness and momentum in price vs prior bullish action and regular rises we've seen most of this month. Price action this morning was approaching a stall speed yet we've set off again upwards, the price has avoided any great test and resolved upwards. The mood or phase to Bitcoin now is as strong as I've witnessed over the years and it would hurt to stand in the way of that yet risk remains still imo and its hard to call overall indefinitely. Dont fight the trend, its up till proven otherwise

This simple take shows 4hr bars and 5 tests of a trend before resolving upwards, there was reason to doubt we could keep this particular pace. While we've gone sideways there's a fair argument we have been testing strength. Its quite a subtle effect and many will dismiss the ideas, I go on my experience over years with crypto or any market and I like how neat performance can be like ripples on a beach there is a pattern to natural movement with every wave.

kapalmabur

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Quote from: Tipstar on November 19, 2020, 08:38:33 PM

We all know bitcoin has been moving between 17000 and 19000 and it's not showing any drastic move to a bull or bear but with such large increase in price, it's hard to imagine that the price has settled to this high.
Indicators are also giving mixed results. Daily buying and selling are around 50% each. Moving average are still indicating a rise.
A correction is imminent, but do you believe, there's still a bull run to come before the correction? Or would bitcoin not achieve it's ATH this time.

I still believe the price of Bitcoin reached ATH this year, even though it was only $ 20k,
but that is very important for Bitcoin, the last 7 days the increase in Bitcoin has reached 10%,
when compared to altcoins, there is still very little increase.

TitanGEL

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Quote from: justdimin on November 23, 2020, 03:36:51 AM

It is not really that easy to break support and resistance levels when the whole market is watching you. Obviously when things are boring and bitcoin has been at $7.2k for 4 months without going over $7.4k or going under $7k and it is incredibly boring and people leave, it is easier to break a resistance and go higher.

However when you have increased over 80% in the past 2 months and you have soooo much volume and liquidity that everyone and their grandma tries to trade bitcoin during this period, things will be harder since people will start to pull from opposite sides of the rope. It means it is "harder" but our path is still looking bull, look at the drop and recover happened yesterday, it was obvious that bitcoin is not ready to go down just yet and will work to keep going higher.

There is now an established new support at $17,600 and I expect that it will be a major support wherein there will be huge demand in that area, the price seems pausing for a little bit but it doesn't mean that a crash will happen. The price is just gaining more power and demand before it able to have a solid momentum. I'm talking about triple digit gain and the price of the bitcoin can achieve it after it finally pierce $20,000.

I really do not think that the trend will be now a sideways because the demand is still high and the bullish side is still dominate the market wherein there is still greed. Do not be afraid especially when the emotion in the market is greed because there is a high chance that the price may become more expensive so be prepared in the best scenario that may happen and it is the reason why you should not create a plan to not miss the golden opportunities.

justdimin

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It is not really that easy to break support and resistance levels when the whole market is watching you. Obviously when things are boring and bitcoin has been at $7.2k for 4 months without going over $7.4k or going under $7k and it is incredibly boring and people leave, it is easier to break a resistance and go higher.

However when you have increased over 80% in the past 2 months and you have soooo much volume and liquidity that everyone and their grandma tries to trade bitcoin during this period, things will be harder since people will start to pull from opposite sides of the rope. It means it is "harder" but our path is still looking bull, look at the drop and recover happened yesterday, it was obvious that bitcoin is not ready to go down just yet and will work to keep going higher.

magneto

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Quote from: Tipstar on November 19, 2020, 08:38:33 PM

We all know bitcoin has been moving between 17000 and 19000 and it's not showing any drastic move to a bull or bear but with such large increase in price, it's hard to imagine that the price has settled to this high.
Indicators are also giving mixed results. Daily buying and selling are around 50% each. Moving average are still indicating a rise.
A correction is imminent, but do you believe, there's still a bull run to come before the correction? Or would bitcoin not achieve it's ATH this time.

I think with the current level of individual FOMO and institutional interest alone, BTC is pretty much guaranteed to finally breach $20k. I would be extremely surprised if a new all time high does NOT get set during this bull run imo.

However, don't expect swings anywhere near what we saw in the past. The market has matured substantially and the increased size of the market mean that flash crashes and pumps will both become much more unlikely.

I also doubt that the predictions of a 6-digit BTC will come true at least during the current bull market. The grassroot adoption is not there yet.

Yamifoud

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Sideways? That is normal and this is not a reason to think directly that we dump again. We have to keep in mind that Bitcoin is just like riding on a roller coaster, it goes down and up. Nothing as it changed, the price will often to show sideways as an effect to the so-called market demand and supply which it matters a lot when it changes proportionally. However, the effect won't be long, after the dump, it rises back again.

We are in the bullish season and have to witness the uprising trend than seeing it goes down. However, we shouldn't be confident enough as we know how volatile we are and that burst can't be ignored.

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Quote from: Tipstar on November 21, 2020, 06:43:34 AM

The price is holding so long that means the holders are not in the mood of selling their coins, yet. It's just the traders that's been buying and selling. A lot of coins being held by institutional investors and unless some institutional investor or a whale goes for dumping their coin or the people lose interest on buying the coins, I don't see why bitcoin won't achieve its all time high. I've bought some more coins and hoping for the best.

No, the price is holding so long because the support is quite strong and this makes the Bitcoin price to stay and continue growing. If you look at the chart it's been a week and we already saw a continuous growth that almost hitting the ATH in 2017. I hope the price won't just stop in the middle of December just like how it moved in the last bull run in 2017. I think everyone is expecting a new ATH next year but we don't really know it yet whether the market would just straight dump next year or straight pump for a couple of weeks then correction. Huh

wxa7115

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Quote from: Tipstar on November 19, 2020, 08:38:33 PM

We all know bitcoin has been moving between 17000 and 19000 and it's not showing any drastic move to a bull or bear but with such large increase in price, it's hard to imagine that the price has settled to this high.
Indicators are also giving mixed results. Daily buying and selling are around 50% each. Moving average are still indicating a rise.
A correction is imminent, but do you believe, there's still a bull run to come before the correction? Or would bitcoin not achieve it's ATH this time.

Personally I like what I'm seeing in the market right now, today there was an attempt to make the price correct a little bit and it reached a low of 17600 but the bulls immediately came charging back and now the price is above 18500, it seems this is going to be the first negative day for the week but the fact that the price recovered so quickly at least to me seems like a very good indicator that there is still a lot of strength in this movement.

So while I think a small correction could be healthy for the market it doesn't seem as if people believe the same and it seems we are headed to surpass the previous ATH during this or week the next one.

boltz

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The hype is kinda gone if you ask me and from here we might assist to a big correction towards 15-16k$ that will happened before end of 2020. As I told in my previous post , a parabolic rise in Bitcoin can only indicate a big bear trap at the end of it as Bitcoin never did a parabolic rise like now.

Personally I would love to see Bitcoin staying in this zone to protect the new ones and the investors who bought at "mini" fomo if I can call it like this.

lifeOK

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Some point, I've feeling people taking profits from BTC and pouring into alts. I think this is extremely practical thoughts when Ethereum and other alts get ready to fly. Alt market been a great few days. Suppose you're a super long term hodler, so seeing it go up and down doesn't excite you as much as it used to. BTW! Bitcoin approaching all time high before this happening there a healthy pullback.

SaShiRaJaVu

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Quote from: Tipstar on November 21, 2020, 06:43:34 AM

The price is holding so long that means the holders are not in the mood of selling their coins, yet. It's just the traders that's been buying and selling. A lot of coins being held by institutional investors and unless some institutional investor or a whale goes for dumping their coin or the people lose interest on buying the coins, I don't see why bitcoin won't achieve its all time high. I've bought some more coins and hoping for the best.

Finally we have a small correction, i am also not expecting the institutional investors booking a profit now, it that happens we might see a major sell off as they are holding billions worth of coins but before the big rally we might see minor corrections like we had today, but last month what we usually see is that whenever we had a minor correction the institutional investors are taking advantage and investing heavily and now reports are coming out that PayPal is investing heavily.

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Bitcoin has not experienced a sideways yet, but if it is a sideways and not a correction,
then the correction will come after sideways, I still hope for a correction,
because an increase without correction will be very valuable if the Bitcoin price is still at $ 18000.

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Quote from: leonix007 on November 20, 2020, 06:23:51 PM

Another thing to watch imho is the breakouts from the 20k levels, if an ATH formed then definitely BTC stories will explode, an interesting moments for crypto's, a weekly chart Higher High possible target at 160k

that is easier said than done. also breaking the previous ATH is not the important part, forming a stable and strong support level above the previous ATH is the important thing to keep an eye on.

what we most probably will have is breaking the previous ATH followed by a lot of spread out panic sells and panic buys that could bring the price up and down around that ATH level multiple times before we go above it and stay there.

JRoa

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Are you expecting that the price of the bitcoin will increase just like a straight line? If you are expecting that then you are wrong because consolidation is a matter and for me it is healthy to see the price of the bitcoin will stop in the moment and create a shallow higher lows. I do not know if the price of the bitcoin will go correction first before it finally pierce the $20K or it will beat first the $20K before it pullback and create a swing low.

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Quote from: kentrolla on November 21, 2020, 06:24:16 AM

A massive drop in January??? BTC is always considered as a extreme volatile coin so anything is possible due to it's uncertainty, also there are only two sides of crypto Market one is pump and dump. As of now just enjoy the price and plan accordingly, no one is judge here every one will just share their opinion nothing more and yes this is not the right time to buy that's for sure.

Almost from 19000$ to now 18300$ so we are seeing some pressure on bitcoin prices. But will it continue or will it bounce back from here. Also we have an opportunity to buy since it has fallen and might be we can make some profits as if it crosses 19k then might be easily reaching 20k too. Will holders panic with this fall or will we see more buying in dips?

Fortify

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"We all know bitcoin has been moving between 17000 and 19000" is a bit of a nonsense statement. It has only moved into this range over the last week or so, and was languishing below that price for years. Some people show a total lack of patience and a disconnect from what has actually been achieved in such a short time period already. I have to feel it is partly driven by greed and inexperience, do you expect the price to jump by $1,000 every day into the future? No, that's just silly. The general trend is upwards and you should be happy with that if you actually hold bitcoin right now.

btc_angela

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Quote from: Tipstar on November 21, 2020, 06:43:34 AM

The price is holding so long that means the holders are not in the mood of selling their coins, yet. It's just the traders that's been buying and selling. A lot of coins being held by institutional investors and unless some institutional investor or a whale goes for dumping their coin or the people lose interest on buying the coins, I don't see why bitcoin won't achieve its all time high. I've bought some more coins and hoping for the best.

It could be, but remember that we are not in a bull run comparable to 2017. That's why we might see the price moving in range. Actually it was in the support/resistance level, certain price is the resistance and then become support and then we move to the next price. Currently the support is $18,500 then in a week we will go to $19,000 then go up and down again until such time that $19,000 became the support and move $19,500. So that's how I see the price movement as of late, no dumping but few traders taking profits here and there.

Lucius

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Quote from: Tipstar on November 19, 2020, 08:38:33 PM

We all know bitcoin has been moving between 17000 and 19000 and it's not showing any drastic move to a bull or bear but with such large increase in price, it's hard to imagine that the price has settled to this high.

What do you really expect? Could it be more drastic than what we’ve had in the last 30 days? The price has gone up by about $6000 and the uptrend seems to continue in the same direction, maybe it's just a matter of days before a new absolute price record will be reached. I know that many are troubled by the moment when it is best to sell, and when the correction will start - but what if it doesn't happen this time?

Institutional investors are buying for the long run, they are not speculators looking for quick profits - and this bull run belongs to them, and anything weak hands sell is quickly found in their wallets. Anyone who wants to play a card of what happened at the end of 2017 is free to try, we may be at the peak, but we may also be just at the beginning of what will follow in 2021.

Ridwan Fauzi

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There will not be a huge correction as long as bitcoin still on the uptrend market. Unless, the uptrend market is end then we will see a huge correction comes but now I haven't seen that will happen. Seem like all holder/trader will focus to $20.000 first or $20.000 is the first target to sell their coin. After that we will see a slightly correction and up again.

Indeed, as a trader there will be many consideration before we buy the coin. Because as we can see bitcoin is always up even in the one hour time frame there only one candle that was formed in red candle at the uptrend market. So, I use a strategy to buy bitcoin directly I don't use a limit market because it is long time to wait, but, I never use a stop loss.

Reid

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Should we also consider the fact that we are pretty used to that kind of event?
What if it won't happen this time and it will really stay at this price since an easier way to buy it had come out?

Trying to be optimistic here and putting doubts aside. Grin

If the demand is really high then we should expect that it won't come to where we are used to seeing it.
$15k bottom maybe?

Becky666

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No body can actually answer your question becasue the behaviorism of Bitcoin price from time immemorial is always sideways, most especially when there's bull run which always attract corrections in Bitcoin price, mostly on daily basis or even on weekly basis. At the moment, Bitcoin price is just experiencing some usual characters in my honest opinion and nothing to fear in it sideways zigzagging movement.

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Quote from: Casdinyard on November 21, 2020, 05:47:22 AM

The way it stabilises at a certain price point I think, is what making other people or investors perhaps, hesistant with their actions at this moment. Some are doubting to keep on holding and are having thoughts of selling in order to assure profit will be earned. Some are even scared to invest at this point because the price is already high and there's no assurance that the market price will continue increasing on the next days of Bitcoin for this year. Possibility is two-sided; chance for the price to rise, and also tendency for the price to suddenly fall. We just never know.

Nah, I think investors are just waiting to see long term what happens, obviously with stops along the way but many more are having huge buy orders around 17k to prevent their positions from weakening or buying the "dip". It'll take some big panic which will happen of course to take it back down to 15k and if more selloffs happen then then we're back to testing 12k support.

Tipstar

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The price is holding so long that means the holders are not in the mood of selling their coins, yet. It's just the traders that's been buying and selling. A lot of coins being held by institutional investors and unless some institutional investor or a whale goes for dumping their coin or the people lose interest on buying the coins, I don't see why bitcoin won't achieve its all time high. I've bought some more coins and hoping for the best.

kentrolla

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A massive drop in January??? BTC is always considered as a extreme volatile coin so anything is possible due to it's uncertainty, also there are only two sides of crypto Market one is pump and dump. As of now just enjoy the price and plan accordingly, no one is judge here every one will just share their opinion nothing more and yes this is not the right time to buy that's for sure.

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Quote from: slapper on November 20, 2020, 06:59:23 PM

It is a good sign. From my opinion, sideway means that people are amassing bitcoin. Just look at the volume. Very very stable without any significant sign. I currently dont have laptop to show my specific opinion

We are in a good momentum. With this uptrend, soom we will surpass our ATH in this year. There are more than a month left. Too much time for investors to join the game

The way it stabilises at a certain price point I think, is what making other people or investors perhaps, hesistant with their actions at this moment. Some are doubting to keep on holding and are having thoughts of selling in order to assure profit will be earned. Some are even scared to invest at this point because the price is already high and there's no assurance that the market price will continue increasing on the next days of Bitcoin for this year. Possibility is two-sided; chance for the price to rise, and also tendency for the price to suddenly fall. We just never know.

slapper

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It is a good sign. From my opinion, sideway means that people are amassing bitcoin. Just look at the volume. Very very stable without any significant sign. I currently dont have laptop to show my specific opinion

We are in a good momentum. With this uptrend, soom we will surpass our ATH in this year. There are more than a month left. Too much time for investors to join the game

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Quote from: dothebeats on November 20, 2020, 03:46:42 PM

I suppose we're heading towards a retrace back to the milder ranges of $15000 and $16000, though it is also likely that the buying pressure overwhelms the sells and we can set foot @ $19000. Right now, most of the sells are positioned @ $18800 and $19000, and those levels are definitely the main hurdles that could stall the movement towards the previous ATH.

Another thing to watch imho is the breakouts from the 20k levels, if an ATH formed then definitely BTC stories will explode, an interesting moments for crypto's, a weekly chart Higher High possible target at 160k

dothebeats

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Weekly RSI says that we have long been overbought, though the constant tension between sells and buys in exchanges equilibrates that in a way that there is little to no movement in a day. I suppose we're heading towards a retrace back to the milder ranges of $15000 and $16000, though it is also likely that the buying pressure overwhelms the sells and we can set foot @ $19000. Right now, most of the sells are positioned @ $18800 and $19000, and those levels are definitely the main hurdles that could stall the movement towards the previous ATH. I wouldn't mind if the market would go sideways from here for a few weeks, given that we have had rises for a month and a half straight. Maybe the money isn't really there just yet, but people are still reluctant to sell since they believe that we might even get a greater push from where we are right now.

qualitywork

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Quote from: judaspriest on November 20, 2020, 11:25:50 AM

the weekend has come, we will see how bitcoin reacts,
usually on weekends there will be a pump and dump, and a determination on Sunday,
if the candle is bullish then we will see one more rally, if the candle ends bearish, correction will come.

Yes, most of the fluctuations occur during the weekend especially negative news as we see red candles during the weekend if we consider the last two weeks the value of bitcoin increased during the last two Friday and Saturday but dropped on the last two Sundays. Let's monitor how it goes this Sunday and compare it with few more weeks to understand the pattern.

CODE200

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Quote from: jackg on November 19, 2020, 08:42:53 PM

Corrections don't always mean down. Assuming we're overbought on the weekly or daily rsi we could just go sideways until we become oversold (since we're moving between 18500 and 17500...

We can go down from here and I wouldn't say its unlikely, but we could also go sideways for a few days or weeks and regain some momentum?

Nature of uncertainty with this market. Things could happen either in line with our expectations or the other way around. But the fact that it's price managed to go as high as it is at this moment, that is already something to celebrate. We'll, to those who just invested recently, it might not be. That's true; things are not yet assured especially regarding to thoughts of surpassing it's ATH unless we see it on the actual. So more likely, waiting is all we can do right now.

judaspriest

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the weekend has come, we will see how bitcoin reacts,
usually on weekends there will be a pump and dump, and a determination on Sunday,
if the candle is bullish then we will see one more rally, if the candle ends bearish, correction will come.

Yudhisthir

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Bitcoin now is over 18.8K. A new high for last couple of years. The price is volatile and it's getting tense as investors and holders are in dilemma whether to buy or sell. The price fluctuations could be good for day traders. Most of the people that bought before and after the last hike are now in profit. It would be wiser to take some profit and keep a small amount to watch how market progress.

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you can't expect the price to rise up $1000 every day, so it is obvious that when we have a major rise when an important resistance is broken there should be some time off for a small correction and a little bit of accumulation before we see another price rise. so far we had that, and this sideways is not even long enough to be enough accumulation phase.

where we go from here is a short window of opportunity to accumulate before another price rise then there is a good chance that we see a panic sell the moment $20k is touched or is close.

Quote from: leonix007 on November 20, 2020, 06:34:53 AM

thus unsure of ETH demands as well on these coming days.

interesting enough they have been trying so hard to pump ethereum for the past weeks but have been failing consistently. with bitcoin price rise there was a very small rise in ETH's USD price rise that helped revive its market a little but the dump of it against BTC is still going on strong.

covfefe_

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Quote from: leonix007 on November 20, 2020, 06:34:53 AM

Quote from: ololajulo on November 20, 2020, 04:48:08 AM

Am watching the price movement of ETH lately, if ethereum should pick up from here it might be difficult to predict the price movement of bitcoin. Ethereum picking up from here will move money to altcoins, its another cycle of getting money into altcoins before another bitcoin move. Some altcoins are not actually doing bad and the recovery of Defi. If bitcoin does not make 19k in 2 weeks we might wait till next year to break the ATH.

Same here, Checking from its history makes it a bit low price where BTC has its level of pricing as of today, I am waiting for some consolidations and a break out to confirm a buy. thus unsure of ETH demands as well on these coming days.

Ethereum would be much riskier in my opinion. In case bitcoin goes a massive rise, Ethereum would be affected as people would sell it to buy bitcoin and if bitcoin crashes, it would crash the whole crypto market with it.
The best option would be to keep buying bitcoin at the moment and take small profits while holding some for 20K with a stop loss at 16.5K.

leonix007

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Quote from: ololajulo on November 20, 2020, 04:48:08 AM

Am watching the price movement of ETH lately, if ethereum should pick up from here it might be difficult to predict the price movement of bitcoin. Ethereum picking up from here will move money to altcoins, its another cycle of getting money into altcoins before another bitcoin move. Some altcoins are not actually doing bad and the recovery of Defi. If bitcoin does not make 19k in 2 weeks we might wait till next year to break the ATH.

Same here, Checking from its history makes it a bit low price where BTC has its level of pricing as of today, I am waiting for some consolidations and a break out to confirm a buy. thus unsure of ETH demands as well on these coming days.

ethereumhunter

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Maybe it's because the bitcoin price now is at the weekend, which usually, the price is down. And I think it is a good time for you to buy more bitcoin if you want, but you need to be careful because there is no guarantee for you to see the price will be staying at the current price. The bull run will come before or after the correction, but we don't know if that will happen or not. But I guess that the price wants to rise again because the price is trying to break every price above.

sunsilk

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Achieving ATH or not this time, that's not important to me. It has showed strong resiliency and that's much better to look as perspective. Having that said, bitcoin could reach higher than the price it has shown lately.

As you have said, correction is imminent and that's the same as the bull run. If you don't think that this is a bull run then you have to consider that it's the start of a possible bull run which would make you believe that it is.

daarul50

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Quote from: Tipstar on November 19, 2020, 08:38:33 PM

We all know bitcoin has been moving between 17000 and 19000 and it's not showing any drastic move to a bull or bear but with such large increase in price, it's hard to imagine that the price has settled to this high.
Indicators are also giving mixed results. Daily buying and selling are around 50% each. Moving average are still indicating a rise.
A correction is imminent, but do you believe, there's still a bull run to come before the correction? Or would bitcoin not achieve it's ATH this time.

Dont get too excited or too early feeling upset.
Sometimes the market need to take a breath especially after that a little dump for a while .
People do aware now there is some people trying to sell a lot of bitcoin at once and ruuning the joy of this bullish.
This is just a response to that i guess.
Other than that we are still bull , there is no signal with this sideways the market will goimd down even after there is a correction very soon.

ololajulo

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Am watching the price movement of ETH lately, if ethereum should pick up from here it might be difficult to predict the price movement of bitcoin. Ethereum picking up from here will move money to altcoins, its another cycle of getting money into altcoins before another bitcoin move. Some altcoins are not actually doing bad and the recovery of Defi. If bitcoin does not make 19k in 2 weeks we might wait till next year to break the ATH.

skarais

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It is almost certain that we cant predict with certainty where the price of bitcoin will move at this point in time. But usually when bitcoin is sideways after a bull run, the possibility of correction is huge and sideways are an indicator after bitcoin seem to have reached overbought. When the price cycle is unpredictable, consider selling a portion at each stage.

rhomelmabini

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That's why I'm being careful with my futures trade and still sticking on the lower leverage. This time continuing to get small sats little by little and still on leaning on the safe side trade. Moreover, I do really think that we could go down maybe on the 15k or 14k range, just my two cents.

el kaka22

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Usually that is called accumulation period. People do not have too much money to keep buying constantly and instantly to make it go up, but people do have incomes that they could gather and buy bitcoin slowly.

Compare it like this, you have 100k savings and you buy bitcoin, that helps the market to go up right? But you also have 1k weekly income that you can put into bitcoin, that takes 100 weeks (nearly 2 years) to put 100k into bitcoin right? That still helps in the long term but doesn't really change anything today.

At this point we are like the second one, it will definitely matter since tens of thousand probably millions of people buying every day, but there is no sudden huge purchase, it is all small by small accumulations that will increase the price after a while, but not right now.

jackg

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https://bit.ly/387FXHi lightning theory

Corrections don't always mean down. Assuming we're overbought on the weekly or daily rsi we could just go sideways until we become oversold (since we're moving between 18500 and 17500...

We can go down from here and I wouldn't say its unlikely, but we could also go sideways for a few days or weeks and regain some momentum?

Tipstar

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We all know bitcoin has been moving between 17000 and 19000 and it's not showing any drastic move to a bull or bear but with such large increase in price, it's hard to imagine that the price has settled to this high.
Indicators are also giving mixed results. Daily buying and selling are around 50% each. Moving average are still indicating a rise.
A correction is imminent, but do you believe, there's still a bull run to come before the correction? Or would bitcoin not achieve it's ATH this time.

Topic: Bitcoin is moving sideways for day, Where to from here? (Read 640 times)