Bitcoin Price Could Soon Surge by 20%? - page 2.

pooya87

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Quote from: Pearls Before Swine on October 13, 2019, 06:02:41 PM

Quote from: pooya87 on October 13, 2019, 12:29:06 AM

i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range.

It's possible, but I doubt it and bitcoin hasn't been in its current range for very long.

At least this thread isn't one of the morbid prediction ones saying that its headed back toward $5000 or below. That also could happen, ofc but I don't think its likely either. It is more likely in my opinion that once bitcoin does start moving with some momentum again that it will be toward $10,000. The market and its traders are just taking a breather right now.

that is why i am not yet sure about it. this is just a feeling that i have based on the fact that usually after a sudden unpredictable drop like what we had recently, there is always a stable phase where market just goes sideways for a long time. we have to stay here for a month at least for us to be sure of this trend though.
unfortunately every time we have a sudden drop then sideways trend like this it ends up seeing it followed by a shoot up after the rise starts! like when price went from <$4k to $6k and then $13k in a short time after.

magneto

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Quote

I know that we are just speculating here but market sentiment can be a big factor for the movement of the price of any commodity or currency. Are you of the same argument or do you see that Bitcoin will instead go south and be trading below the $7,000 within the coming week? Is Bitcoin now ready to take over the $10,000 price range?

I doubt it given how much resistance that level saw the last time it was tested.

Furthermore, we don't even know for certain whether or not the 8k support will hold at this point. Even though we did see sizeable rebounds each time BTC tested this level, this was exactly the same scenario with $10k, which eventually crumbled.

I'd refrain from making any bullish predictions in the short term even though I'm still holding my longs on BTC in the long run, simply because how sentiment in the short run can affect the entire market's performance.

Pearls Before Swine

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Quote from: pooya87 on October 13, 2019, 12:29:06 AM

i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range.

It's possible, but I doubt it and bitcoin hasn't been in its current range for very long.

At least this thread isn't one of the morbid prediction ones saying that its headed back toward $5000 or below. That also could happen, ofc but I don't think its likely either. It is more likely in my opinion that once bitcoin does start moving with some momentum again that it will be toward $10,000. The market and its traders are just taking a breather right now.

STT

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I dont take weekend prices as good indication for the rest of the week, for whatever reason we tend to get a blip on Sunday open as Japan trading hours come into play and thats when I start to note the areas we are holding or failing.

We have attempted to break down a bit but stayed above short term averages more importantly the weekly average we've stayed above and perhaps we fight the friday prices now in Asia trading.

figmentofmyass

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Quote from: 1Referee on October 13, 2019, 03:14:19 PM

For every reason people think we might be due for a move up, I can think of twice as many reasons for the price to be due for a correction.

the main reason to keep our bearishness in check is that the market's already fallen 45%. from here, there's more room for upside than downside, even if we're just talking about a dead cat bounce in a bear market. we're not just gonna go straight down. there will be a violent move upwards sometime in the next several weeks.

it's prudent to be bearish based on the daily/weekly downtrends. that's only rational. the same was true in the summers of 2013, 2015, and 2016 though. just sayin.......

Harlot

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Quote from: 1Referee on October 13, 2019, 03:14:19 PM

Quote from: Harlot on October 13, 2019, 02:22:52 PM

The RSI might look bullish but it is forming a symmetrical curve pattern leading to is on becoming oversold again which means there would be another massive selling happening anytime soon so I would rather stay smart and not depend on a break out as of the moment.

I never liked RSI for the simple reason that it can indicate a bias towards a certain direction without actually leading to a move.

For every reason people think we might be due for a move up, I can think of twice as many reasons for the price to be due for a correction. Patience is key here. People believed that the $10,000 level was a level we wouldn't really dip under anymore with how "strong" the support was, and the same happens with the $8000 level already.

I follow a simple rule called; the trend is your friend. It's clear that the trend has turned against the bulls and those who go against the trend will be left with a bad taste in their mouth. I really wish I was this rational last year....... Lips sealed

That's why you have other indicators to look at and not only to based your trade because of the RSI. The RSI would just tell you if an asset is overbought or oversold but it doesn't completely say if it will go up or down because of it, other indicators should be used such as MACD and moving averages to confirm a move will happen because of it. RSI can be serve as some kind of indicator that will just point out on where it can move, it sort of gives you a general idea of the current situation. I love the RSI for what it is and I use it anytime just to see on what the next move will be.

1Referee

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Quote from: Harlot on October 13, 2019, 02:22:52 PM

The RSI might look bullish but it is forming a symmetrical curve pattern leading to is on becoming oversold again which means there would be another massive selling happening anytime soon so I would rather stay smart and not depend on a break out as of the moment.

I never liked RSI for the simple reason that it can indicate a bias towards a certain direction without actually leading to a move.

For every reason people think we might be due for a move up, I can think of twice as many reasons for the price to be due for a correction. Patience is key here. People believed that the $10,000 level was a level we wouldn't really dip under anymore with how "strong" the support was, and the same happens with the $8000 level already.

I follow a simple rule called; the trend is your friend. It's clear that the trend has turned against the bulls and those who go against the trend will be left with a bad taste in their mouth. I really wish I was this rational last year....... Lips sealed

Harlot

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Just don't get your hopes up right now. This price jump they are talking about is highly dependent on the assumption that Bitcoin will hold the 7,700$ support and basing the current chart we have right now I don't think we are in the position to get comfortable that Bitcoin will be bullish anytime soon. If BTC fails to break out the 8,500$ level then we all know that we aren't in the clear yet and we might revisit the 7,000$ range soon. The RSI might look bullish but it is forming a symmetrical curve pattern leading to is on becoming oversold again which means there would be another massive selling happening anytime soon so I would rather stay smart and not depend on a break out as of the moment.

barota

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yeah , bitcoin Price can recover the area or level 10000 ; why not 10320 per btc before december
for sure there is lot of traders who sold their bitcoin after this fall in prices that already started by end of september , and i think they can bought again espiscially who sold at 9000 usd per btc because current price better than price of last weeks

darkangel11

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I'm bullish most of the time so I can feel the pressure building up before the halving and so should you. Bitcoin can get dumped when someone throws a ton of coins onto exchanges but it won't start a big panic. You could see that happen more than once in the last 30 days. They were trying to dump but it always recovered right away. People don't want to get rid of it and the charts are reflecting this attitude. I see us going up to 10k this year and starting a pump towards 20k later on as halving gets closer. Maybe in Spring?

teosanru

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I think these types of articles are published everyday by different media websites all over the globe. One set of these blogs say that there would be a 20% surge and the other half says that there would be a 20% breakdown. I personally feel that TA is a very subjective thing everyone can make out his own analysis therefore you can't rely heavily on what a channel says. 7700 is indeed a very important support and has played a crucial role since a month but there are no signs of reaching 10k as of now. I think 9k would be a more realistic approach.

Quote from: cryptoangel on October 13, 2019, 11:38:01 AM

Quote from: febriyana on October 13, 2019, 08:02:41 AM

In short term, maybe this year will really going dip around $7k. I think hard to going bullish this year because Bitcoin need some support to increase the price, for example the adoption and regulation. There is also altcoin not really good to support the Bitcoin, some project is scam, some people think crypto going nowhere.
But let's look what happen. Still hold BTC!

I never expect this much dip on end of the year, Because we are all see some gradual hype on last month before and one dump will affect many investors, at the same time it will trying to grow again so surely it will cross more than 13k on end of the year.
Adoption and regulation will happen it will going to moon and slowly will raise on further days so buy more Bitcoin in this situation we make good profit on end of the year.

Currently i Don't hear any adoption or regulation happening around. Even Bakkt futures Haven't created much price pressure for Bitcoin.

YuginKadoya

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It could even break down 20% down, let's just say that this really is an indicator so we can make it back to the $10,000 USD again let's just embrace the fact that it can go down to $7000 USD but we may see another recovery for the price, 2020 was the initial potential surge up for the price to hit again and make a new all-time high and because of the impending event of Halving this can be a strong reference to that in getting us up again, and I think the next all-time high will be on the $40,000 USD to $ 50,000 USD levels in my opinion.

cryptoangel

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Quote from: febriyana on October 13, 2019, 08:02:41 AM

In short term, maybe this year will really going dip around $7k. I think hard to going bullish this year because Bitcoin need some support to increase the price, for example the adoption and regulation. There is also altcoin not really good to support the Bitcoin, some project is scam, some people think crypto going nowhere.
But let's look what happen. Still hold BTC!

I never expect this much dip on end of the year, Because we are all see some gradual hype on last month before and one dump will affect many investors, at the same time it will trying to grow again so surely it will cross more than 13k on end of the year.
Adoption and regulation will happen it will going to moon and slowly will raise on further days so buy more Bitcoin in this situation we make good profit on end of the year.

InvoKing

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Quote from: pooya87 on October 13, 2019, 12:29:06 AM

although i am hoping to see $10k sooner than later but i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range. of course it is still too early to say and things are still unpredictable. but we are now entering the third week of price being in this range and the market has been calming down a lot too which makes me more confident in what i said.

Stable phase isn't bad, better than <$8k before November. I still think things will get better after 1 month from now and the +20% price will be just a start

febriyana

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Febriyana Muhammad

In short term, maybe this year will really going dip around $7k. I think hard to going bullish this year because Bitcoin need some support to increase the price, for example the adoption and regulation. There is also altcoin not really good to support the Bitcoin, some project is scam, some people think crypto going nowhere.
But let's look what happen. Still hold BTC!

Red-Apple

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with the recent pull back and the way the buy support held strongly i would say the market is in a pretty good shape. if price could sustain this buy support strength and this small upward momentum we can see the surge very soon.

but i can't agree on one thing. and that's the 20% surge. i think if we start seeing a surge at this point it will be a lot bigger than just 20% and could bring the price back above $10k and closer to $11k whereas 20% will only take it to $9k.

gabbie2010

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Presently the price is held or pullback at a support at $8300+ haven broken athe resistance at that zone thus a clear indication that the bulls are gradually taken over the market its very obvious the next resistance is $9000 which is quite achievable before the end of this month the price had rallied for long in that zone before breaking the resistance at $8300 once broken I am well optimistic that the price will sustain the bullish momentum till $9K.

timerland

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Quote from: pooya87 on October 13, 2019, 12:29:06 AM

although i am hoping to see $10k sooner than later but i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range. of course it is still too early to say and things are still unpredictable. but we are now entering the third week of price being in this range and the market has been calming down a lot too which makes me more confident in what i said.

Yep. Exactly what I was thinking, this reminds me of that period where it just swung from 2.5k to 3.3k for a couple months, and with the way things have been going, it's looking like it's the same thing, but at a higher pricepoint.

If we do clear the 9,000 regions this month, 10,000 looks easily achievable and I reckon it'll be just some time before we reach that mark. Only time can tell us!

exstasie

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Quote from: adaseb on October 13, 2019, 12:40:01 AM

What I think will happen is we might reach the $10K area once again but it might end up being another bull trap like in May 2018.

If we clear the low $9,000s then $10K is an obvious bull trap target because it's the top of the weekly failure in September, the apex of the failed triangle, and the 20-week MA......not to mention psychological resistance. Just getting there won't be enough to reverse this downtrend. We need to break through that area with authority.

It should be a real moment of truth.

Oasisman

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Im still positive for the $10,000 range nowadays. If this market situation is similar on May this year, then it probably wont go below the lowest from the last 3 weeks.
Higher lows could also be an indicator that we're not really drowning below the support level.
Now, we just need a good reason for Bitcoin to break the resistance and reach the $10,000 mark. The 2020 halving could be one of the best example.

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