Bitcoin penetrates into $17 000 - page 2.

Oasisman

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At this moment Bitcoin price has even crossed 17500$. That looks very optimistic and like Bitcoin is heading towards 20000$ however don't forget the volatility. I believe corrections could be expected soon and price might pool back although I don't expect some bigger dump. Still price might be fluctuating back and forth and by the end of the year price might be in the same range.

$18,100 at this moment. Price pull back wasn't really felt as If it didn't happened at the $15,000 price range. Bitcoin seems unstoppable and might hit another thousand dollars up to $19,000 in the next 48 hrs. And we're getting much closer to $20,000. Huge dump ain't happening till it breaks the ATH. Let's see what happens from there.

Quote from: Fundamentals Of on November 17, 2020, 10:40:29 PM

That sell order of $6 million at $17,000 didn't even become a sell wall. It proved to be a very small amount quickly gobbled up by the buy orders. I cannot say with certainty but this is most likely the road to a new all time high within the year.

Absolutely! That's what makes me somehow a little confident that Btc will be hitting new heights just before or on December.

ethereumhunter

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Quote from: Fundamentals Of on November 17, 2020, 10:40:29 PM

That sell order of $6 million at $17,000 didn't even become a sell wall. It proved to be a very small amount quickly gobbled up by the buy orders. I cannot say with certainty but this is most likely the road to a new all time high within the year.

In fact, if we look at the circumstances of Bitcoin right now it is even much better than it was in 2017. So there is really a positive outlook that $20,000 is not the ultimate target in 2020. We will have to raise it somewhere at $25,000 to $30,000.

I guess that sell order was canceled before the price increase more. With the price now, I think there will be a big wall at one level price to hold bitcoin price not to soar too high. Maybe this time, bitcoin will have more power to lift the price until the price can be back at $18k and still increase to $19k. We will see the price start the rallies and break the big wall at $20k to go to the next high price.

Fundamentals Of

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That sell order of $6 million at $17,000 didn't even become a sell wall. It proved to be a very small amount quickly gobbled up by the buy orders. I cannot say with certainty but this is most likely the road to a new all time high within the year.

In fact, if we look at the circumstances of Bitcoin right now it is even much better than it was in 2017. So there is really a positive outlook that $20,000 is not the ultimate target in 2020. We will have to raise it somewhere at $25,000 to $30,000.

livingfree

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Quote from: exstasie on November 17, 2020, 02:49:43 PM

Quote from: livingfree on November 17, 2020, 08:29:29 AM

It became realistic now. We're from $9k - $10k and had a rush to $16k and becoming stable on this level.

Rallying 55% in a month, 7 green weekly candles, is anything but stable! We haven't seen any higher time frame consolidation since price got marked up from the $10K-$12K range. Be prepared for some classic BTC volatility. Tongue

Bulls are relentless. I was hoping for a bit more "slow and steady." Much better for building robust support levels on the way up, less prone to epic volatility. Oh well! 2021 is going to be fun from the look of things.

Altcoins still look like shit against BTC but I have some preliminary EW counts that suggest they are bottoming out soon. If BTCUSD forms a significant local top and alts begin to rally (like March 2017), things are going to get really fun.

Yeah that would be pretty much better if we are seeing the same movement as $10kish. The slowly but surely pattern for bitcoin but here it goes, it's creating the FOMO again but IMO, this way is natural than the 2017s.

Looking towards the 2021 and the best is not yet to come.

Quote from: sheenshane on November 17, 2020, 10:05:03 AM

I'm very optimistic and I know others too. Definitely, it will probably reach $20k at the end of this year since more and more are getting aware of Bitcoins and with the recent Citibank reports that were released a couple of days ago, it promotes Bitcoin where awareness and trust of the public can be gained.
Because of these large companies like Paypal, Citibank, and other companies who started to acquire Bitcoin in their services and has a million account holding Bitcoin that may start to get into Bitcoin then it could possibly make the demand higher and the price will surely kick more than what we're expecting before the end of the year.

Those news really made a positive impact for bitcoin. Yet, just as extasie has said, I'll be prepared for its volatility. I'm wishing for it to come but it's inevitable and hopefully it wouldn't be that much negative. Just as what we see when bitcoin gets down, it don't stay there for long.

arwin100

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Quote from: exstasie on November 17, 2020, 04:08:27 PM

Quote from: Stalker22 on November 17, 2020, 03:11:28 PM

Quote from: exstasie on November 17, 2020, 02:49:43 PM

Rallying 55% in a month, 7 green weekly candles, is anything but stable! We haven't seen any higher time frame consolidation since price got marked up from the $10K-$12K range. Be prepared for some classic BTC volatility. Tongue

Bitcoin could very easily be in 'bubble territory' according to some analysts due to Bitcoin's 30-day return exceeding a set threshold of address growth. This means that Bitcoin could drop as much as 20% of its current price before launching a new ATH attack. That's my target for a new long. Wink

Be very careful catching the falling knife on leverage. Bitcoin tends to go much further in both directions than everyone expects. I've seen BTC drop as much as 42% in a bull market shakeout. 35% is very typical.

You don't want to buy the dip on leverage, only to get liquidated right before price goes parabolic again. There are few things in life more painful than that. Wink

Many think about continuous pump since they think the bull market will not fail them out and we still need to be careful on some possibilities since as you said maybe we can experience some shake outs and we need to be prepared for something like that. And also we should assure to have a good position since this time is a good opportunity and we need to find a good entry point.

exstasie

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Quote from: Stalker22 on November 17, 2020, 03:11:28 PM

Quote from: exstasie on November 17, 2020, 02:49:43 PM

Rallying 55% in a month, 7 green weekly candles, is anything but stable! We haven't seen any higher time frame consolidation since price got marked up from the $10K-$12K range. Be prepared for some classic BTC volatility. Tongue

Bitcoin could very easily be in 'bubble territory' according to some analysts due to Bitcoin's 30-day return exceeding a set threshold of address growth. This means that Bitcoin could drop as much as 20% of its current price before launching a new ATH attack. That's my target for a new long. Wink

Be very careful catching the falling knife on leverage. Bitcoin tends to go much further in both directions than everyone expects. I've seen BTC drop as much as 42% in a bull market shakeout. 35% is very typical.

You don't want to buy the dip on leverage, only to get liquidated right before price goes parabolic again. There are few things in life more painful than that. Wink

Fortify

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It is fascinating to see the rapid rise of Bitcoin, it seems to be detached from any other economic events taking place right now. You'd really expect the price of bitcoin to dip when the wider economy starts performing again, after all these vaccine announcements have started to push share prices back up. I guess all these billionaires and millionaires were happy enough keeping their cash in bank accounts, they've since decided that they want to throw some money at cryptocurrencies as it looks set to rocket up again. It's always a disappointment when you think of all the bitcoin you have sold in the past for much lower prices, but you have to keep looking to the future instead.

Stalker22

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Quote from: exstasie on November 17, 2020, 02:49:43 PM

Quote from: livingfree on November 17, 2020, 08:29:29 AM

It became realistic now. We're from $9k - $10k and had a rush to $16k and becoming stable on this level.

Rallying 55% in a month, 7 green weekly candles, is anything but stable! We haven't seen any higher time frame consolidation since price got marked up from the $10K-$12K range. Be prepared for some classic BTC volatility. Tongue

Bitcoin could very easily be in 'bubble territory' according to some analysts due to Bitcoin's 30-day return exceeding a set threshold of address growth. This means that Bitcoin could drop as much as 20% of its current price before launching a new ATH attack. That's my target for a new long. Wink

exstasie

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Quote from: livingfree on November 17, 2020, 08:29:29 AM

It became realistic now. We're from $9k - $10k and had a rush to $16k and becoming stable on this level.

Rallying 55% in a month, 7 green weekly candles, is anything but stable! We haven't seen any higher time frame consolidation since price got marked up from the $10K-$12K range. Be prepared for some classic BTC volatility. Tongue

Bulls are relentless. I was hoping for a bit more "slow and steady." Much better for building robust support levels on the way up, less prone to epic volatility. Oh well! 2021 is going to be fun from the look of things.

Altcoins still look like shit against BTC but I have some preliminary EW counts that suggest they are bottoming out soon. If BTCUSD forms a significant local top and alts begin to rally (like March 2017), things are going to get really fun.

qualitywork

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Yes, I feel we will cross $20,000 by the end of this month or the beginning of December, the best part about the current market situation is that Bitcoin has created a solid stand over $16,000 wherein we have not witnessed any major dump in last few weeks. This will be a perfect opportunity for those who missed out last bullrun.

dunfida

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Recent bitcoin price increase has been very parabolic with no major correction. That would mean that it is similar to the pump we had in 2017. Anybody buying bitcoin now would be buying based off fomo and might be a repeat of the last bull run. I want to see some corrections here. At least 10% before consolidating for next move.

For people who had those kind of learning in the past are most probably selling off their bags at the moment and even myself did able to sell when it hit up 17500 which i can say a good spot
to do so and im also hoping for some corrections yet we cant really just have this kind of price rally or unstoppable ones because it will really be reflecting on how bad the correction
would be but i dont see that this current price will really be corrected that hard just like into those 2017 days where we do almost hit up on the floor.
We are almost hitting 18k and its indeed realistic on hitting up 20k for this year.

LUCKMCFLY

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If you look at it, the supply at these levels is low, the whales are testing these price levels, apparently this December we will be able to experience a bullish trend stage again if all goes well.

One of my criteria for the confirmation of the bullish trend is to review the millionaire wallets and see especially the section that says 100-1000 BTC:

Source:https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Seeing this information, although it does not mean that it is the most reliable of all, in 2017-2018 in the bullish trend season the percentage reached almost 80%, and if this behaves like this, which I am not very sure, well If bitcoin currently reaches $ 20k and exceeds it, it is not in the bullish trend yet, there would be much more to go up in price, which means that we could see Bitcoin almost touching the $ 30k- $ 50k levels, for course is what I have calculated, in my mere speculation of the market.

dothebeats

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Could go even higher since there’s not much sell pressure on the market now. There’s even a possibility of it breaching $18K today, as the price stands shy of $17700 last time I checked it. This might be the bull run that every one has been waiting for, though it has been pretty subtle for the most part and seems to be a normal occurrence just now.

The $6M is either eaten or removed, and no sell walls present up until $18500. Idk if people are being greedy, but there’s really no real reason not to as all indicators point north from here and still going strong.

buwaytress

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I actually saw that sell order getting eaten up at my exchange, was surreal to watch. Was early selling some Bitcoin I was meant to have made at the end of the month. I don't generally do that, but I'd actually marked it to sell around $15k so I didn't mind the extra 12% or so.

ATH can still hit, now we have just over 6 weeks left to the year. No man's land, though, just be wary boys and girls.

Harlot

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Looking at the prices plainly will just make you predict something inaccurately, with the picture you have given it clearly shows that the volume even if the price is going up it is going down showing us that the demand is going down as well. A price increase with less demand can easily be translated to the rally for being a weak one. Also with no major corrections happening on such a long rally do you really expect for it to go ahead and not take any kind of break?

suzanne5223

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The current demand trend of the Bitcoin market which posed to be stronger than the supply trend guarantee that the Bitcoin price has the chance to make a new ATH this month because despite the $6Million sell order the market still maintains the $17K price range but if the Bitcoin market makes a new ATH I expect a slight correction in price before it will be finally bullish.
With that been said, ETH seems to correlate with the current bullish price of Bitcoin.

CyberKuro

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Quote from: concept2 on November 17, 2020, 10:07:30 AM

Damn

bitcoin is unstopable. Should I buy more bitcoin or not?

400 bitcoin can be broken in a few hours with the current force. The bull run is stronger than i think. Gonna stack more alts for bettter profit. I am not sure whether there will be a correction or not. Buying alts is better option for this case. Many potential alts do not have much activity at the moment but the volume continues to rise

Investing in altcoins is riskier because the percentage increase in price is not proportional to the decline later when bitcoin experiences a correction and falls to a lower support level. I have watched the development of some altcoins and their increase in price is quite tempting to buy, but buying altcoins when bitcoin prices are high is quite risky, some altcoins such as Litecoin and ETH showing a good rate, if you are convinced, then buy it but be prepared for the worst case scenario that might happen.
If bitcoin continue to break $18k without take a deeper dip below $15k, it's worth to try.

dragonvslinux

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$17,300

Ascending wedge breaking to the upside, going beyond a theoretical parallel channel. Nothing stopping it so far Grin

I think a close above that blue channel will give it space to move to $18-18.5.

Rodeo02

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Quote from: concept2 on November 17, 2020, 10:07:30 AM

Damn

bitcoin is unstopable. Should I buy more bitcoin or not?

400 bitcoin can be broken in a few hours with the current force. The bull run is stronger than i think. Gonna stack more alts for bettter profit. I am not sure whether there will be a correction or not. Buying alts is better option for this case. Many potential alts do not have much activity at the moment but the volume continues to rise

If it's true then someone already accumulating some alt so if the Bitcoin rally continue other alt will follow the trend . more investors know they can gain more in altcoin compared to Bitcoin in terms of possible income like 50% increase above they are now to accumulate as faster as they can so they can sell it once bull market for alt started.

Just make sure you also hold some Bitcoin in case it never follow Bitcoin trend you already have Bitcoin secured.

concept2

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Damn

bitcoin is unstopable. Should I buy more bitcoin or not?

400 bitcoin can be broken in a few hours with the current force. The bull run is stronger than i think. Gonna stack more alts for bettter profit. I am not sure whether there will be a correction or not. Buying alts is better option for this case. Many potential alts do not have much activity at the moment but the volume continues to rise

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