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Topic: Bitcoin is very likely going to break $9000 in the next few days. - page 7. (Read 1338 times)

legendary
Activity: 2982
Merit: 1028


Here is my reasoning. We are clearly in a tightening pattern with higher lows and lower highs. The last lower high is at $8275 and the 2019 high is at $8366. The monthly resistance is at $8491.

3 Resistances only 200$ a part from each other. If we break the first one, breaking from the pattern, a lot of stop losses for shorts and buys for longs will trigger pushing the price up quickly, we will reach 8366 in minutes, the momentum will be enough to break it and again, stop losses and buy orders will trigger which will, again, push the price even higher reaching 8491 in minutes too, at that point the momentum should be big enough to break it as well and we will face almost no real resistance after that point. This could happen today or in a few days, it's not guaranteed unless we break the first resistance, which might not happen.
Very nice observations, there's positive chances that this movements can happen any time soon, the value of Bitcoin is starting to rise again keeping this momentum can break those resistance that you've mentioned, it's just some good supporters to hold on and believe that it will bring much higher value if we keep on holding and allowed this pumped to continue more higher.
member
Activity: 117
Merit: 14


Here is my reasoning. We are clearly in a tightening pattern with higher lows and lower highs. The last lower high is at $8275 and the 2019 high is at $8366. The monthly resistance is at $8491.

3 Resistances only 200$ a part from each other. If we break the first one, breaking from the pattern, a lot of stop losses for shorts and buys for longs will trigger pushing the price up quickly, we will reach 8366 in minutes, the momentum will be enough to break it and again, stop losses and buy orders will trigger which will, again, push the price even higher reaching 8491 in minutes too, at that point the momentum should be big enough to break it as well and we will face almost no real resistance after that point. This could happen today or in a few days, it's not guaranteed unless we break the first resistance, which might not happen.
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