Bitcoin Price Charts Hint at the Most Exciting Breakout in Over a Year. - page 2.

jossiel

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Quote from: pooya87 on May 18, 2020, 02:04:19 AM

Quote from: ProfWigSlipper on May 17, 2020, 11:18:04 AM

above $9200 this week, it's an incredibly bullish sign

i don't think so since there is nothing significant about prices that are below $10k which is right now a psychological barrier more than anything else. and for all the FUD that has been going on for the past week i don't see any bullish signs unless this resistance is broken. for now everyone seems to be either accumulating or waiting for the breakout to jump in again.

I agree, the analysis that I'm saying lately is about the prices that's below $10k and speculates that if a week closes with a certain price then that's the sign of the bull run. But bitcoin doesn't go like that.

Last year, bitcoin reached far to $13k and a division of bullish trap folks and non-bullish speculators said that it's like that. And for this year, many didn't even expected that March would show a very low price base from those price comparisons and expectations analysis.

pooya87

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Quote from: ProfWigSlipper on May 17, 2020, 11:18:04 AM

above $9200 this week, it's an incredibly bullish sign

i don't think so since there is nothing significant about prices that are below $10k which is right now a psychological barrier more than anything else. and for all the FUD that has been going on for the past week i don't see any bullish signs unless this resistance is broken. for now everyone seems to be either accumulating or waiting for the breakout to jump in again.

ProfWigSlipper

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If Bitcoin closes above $9200 this week, it's an incredibly bullish sign — and perhaps the biggest since the 2017 bull run — for the coming weeks and months....

Bullish scenario

Closing above $9,200 today will be the single most bullish sign that Bitcoin has seen since before the 2017 bull run. This would put $9,980 as the next level of resistance before opening up $11,600 as the next target.
https://cointelegraph.com/news/bitcoin-price-charts-hint-at-the-most-exciting-breakout-in-over-a-year

Looking like we could have a great summer, who is ready for some action?

Edit/ Update based on initial reactions:
Reading chart signals is an Art and not a Science. Looking at the fundamentals for BTC you could not get more Bullish than having the USA government creating Trillions in new fiat out of very thin air. People who are waiting now (for example) will probably still be waiting at ~$10,500 to see if the breakout is real this time, and later buying at a much higher price, right as the market is about to short-term crash.

Now the market has traders trained to sell in the area of $10K since it worked so many times before. We are due for a major plot twist.

Topic: Bitcoin Price Charts Hint at the Most Exciting Breakout in Over a Year. - page 2. (Read 141 times)