Bitcoin price jump - Is this a bullish sign? - page 3.

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legendary

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Quote from: gabmen on July 04, 2018, 12:37:33 AM

Lol.bullish? Last april btc jumped 1k usd in a matter of an hour yet that by far isn't a bullish indication. We even went to an all time low for 2018 after that. And i think we're back to 6.5k so not bullish at all

Yes, people's mood and market view is as volatile as the price itself is.

If we follow the patterns of the chart after the correction kicked in, we may be up for an attempt to $7000 and well above, but if nothing changes the trend is still down. The only certain thing about the market this year is that we constantly experience lower lows and lower highs. The only bullish aspect is that there (for now) is quite a strong level of support above the $5500'ish low we marked back in November of last year.

I find $5500 actually a fair price and would consider everything below that an extremely strong buy, and I'm sure there are more potential buyers thinking alike.

hugeblack

legendary

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In the past, there were gains of more than $ 1,000, which we considered a natural increase, but only because of the relative stability in the price of the Bitcoin, a rise of $ 300 is causing noise. Huh

Bitcoin does not need a reason to raise with this amount "which I considered it natural" because the price was in the range of 6,600 dollars last week.
Perhaps the quick rebound from the $ 5000 level is exciting and shows that the price is much stronger than that level.

talkbitcoin

legendary

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All I know is that I know nothing.

the important thing to me is that price is staying above $6k so you can take that as a sign of a bullish trend to come in the near future. we may end up seeing another desperate attempt to push the price down below that strong support but after its failure (which is the most possible outcome) we will see a rise take place as the money gains the confidence back and comes in.

nl247

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Quote from: rickyharun on July 04, 2018, 02:50:10 AM

Quote from: STT on July 04, 2018, 01:40:30 AM

Is it a bullish sign, I guess its a positive but its probably just a short position being forced closed and a buyer bringing the price up. Larger buyers tend to make the price jump like this and it shows as a rapid change. Futures contract would just a written date to close a certain price. So they will agree to sell BTC for 10,000 on 1st August maybe and some will speculate this is a good price to sell and are bearish on the underlying price.
Quite often the same trader might hold long and short contracts as I understand it, alot of it cancels each other out which would mean not a large influence on actual BTC sales over longer term.

We hope it will be like that,if we looking in chart we see pin bar form.and it mean buyer could beat seller at the moment.in august maybe we will see bitcoin price above $8000.

I do not see anything bullish yet and the only time I get to see any bullish sign is to see us pull down the $6800 resistance wall with huge volume. The thing anyone should always be careful about in a bearish market is a fake bounce most especially if the momentum is not really strong to the upper side. The bears are still strong in volume and the pace or momentum at which the market value drops is faster than how it moves upward as well.

I guess we will have to live time to give us where the trend leads next, but as we are now, nothing is certain and I will rather remain bearish until further notice. On lower time frames, MACD is showing a bearish divergence and that is actually something worth taking note of.

rickyharun

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Quote from: STT on July 04, 2018, 01:40:30 AM

Is it a bullish sign, I guess its a positive but its probably just a short position being forced closed and a buyer bringing the price up. Larger buyers tend to make the price jump like this and it shows as a rapid change. Futures contract would just a written date to close a certain price. So they will agree to sell BTC for 10,000 on 1st August maybe and some will speculate this is a good price to sell and are bearish on the underlying price.
Quite often the same trader might hold long and short contracts as I understand it, alot of it cancels each other out which would mean not a large influence on actual BTC sales over longer term.

We hope it will be like that,if we looking in chart we see pin bar form.and it mean buyer could beat seller at the moment.in august maybe we will see bitcoin price above $8000.

STT

legendary

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Is it a bullish sign, I guess its a positive but its probably just a short position being forced closed and a buyer bringing the price up. Larger buyers tend to make the price jump like this and it shows as a rapid change. Futures contract would just a written date to close a certain price. So they will agree to sell BTC for 10,000 on 1st August maybe and some will speculate this is a good price to sell and are bearish on the underlying price.
Quite often the same trader might hold long and short contracts as I understand it, alot of it cancels each other out which would mean not a large influence on actual BTC sales over longer term.

marcbitcoins

full member

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Quote from: matthewoz101 on July 02, 2018, 02:27:17 PM

I see that the price of $BTC went from $6300 to $6600 very fast. I'm wondering why that happened and if that's a bullish sign.

Since we did not go under $5800, it feels like the bearish market is starting to run out. If we continue to hold at these levels, is the bullish market coming sooner and faster than expected?

Also, I wanted to ask how Bitcoin Future Contracts work and if there is a possible relationship with the price jump. From what I understand, people agree on Bitcoin future contracts by agreeing on a price and time to sell BTC for? Is that correct? Or could someone give a short explanation on how they work and how they can affect the price?

It is too early to conclude because the pump is too far from the reality that the bullish run is just around the corner. Lets wait and see for a few more months before we conclude as the price of Bitcoin is really unpredictable in which this market current movement is very natural to me.

Pursuer

legendary

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Where is my ring of blades...

there was no real jump in the price though. the $300 rise that you mentioned here for example is just a slightly bigger rise (~4% rise) which is nothing. a "jump" is usually something bigger than 10% in bitcoin otherwise it will be categorized as the daily fluctuations.

in this case the rise that we had from $6k upwards is more like a sign showing the end of the downtrend in my opinion. and the accompanying with the strong buy support at $6k makes me believe in it more although it is hard to tell at this point.
if we see a rise above $7k that is the jump you should be looking for and there is a good chance that this rise can ignite some FOMO buying which then will create real big jumps in price.

davis196

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Quote from: matthewoz101 on July 02, 2018, 02:27:17 PM

I see that the price of $BTC went from $6300 to $6600 very fast. I'm wondering why that happened and if that's a bullish sign.

Since we did not go under $5800, it feels like the bearish market is starting to run out. If we continue to hold at these levels, is the bullish market coming sooner and faster than expected?

Also, I wanted to ask how Bitcoin Future Contracts work and if there is a possible relationship with the price jump. From what I understand, people agree on Bitcoin future contracts by agreeing on a price and time to sell BTC for? Is that correct? Or could someone give a short explanation on how they work and how they can affect the price?

A futures contract is when the buyer and the seller agree to trade an asset at a fixed price in the future(after 6 months for example).You and me can sign a contract and agree to trade BTC at 6000 USD after 3 months.But,after the months,the BTC market price might be 10,000 USD,so the futures contract buyer will buy the BTC at 6000 USD and sell it at 10,000 spot price.If the BTC market price goes under 6000 USD,the futures contract seller gets profit.
And no,the current 300 USD price increase is NOT a bullish trend.

gabmen

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Lol.bullish? Last april btc jumped 1k usd in a matter of an hour yet that by far isn't a bullish indication. We even went to an all time low for 2018 after that. And i think we're back to 6.5k so not bullish at all

bncbnc

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Quote from: spicybanana on July 02, 2018, 02:42:10 PM

Quote from: matthewoz101 on July 02, 2018, 02:27:17 PM

I see that the price of $BTC went from $6300 to $6600 very fast. I'm wondering why that happened and if that's a bullish sign.

Since we did not go under $5800, it feels like the bearish market is starting to run out. If we continue to hold at these levels, is the bullish market coming sooner and faster than expected?

Also, I wanted to ask how Bitcoin Future Contracts work and if there is a possible relationship with the price jump. From what I understand, people agree on Bitcoin future contracts by agreeing on a price and time to sell BTC for? Is that correct? Or could someone give a short explanation on how they work and how they can affect the price?

It is still too early to say. Earlier we saw bitcoin rising up to 6400 very quickly and dropped off again. It shows the market is still very unstable but I do hope it is going to keep pumping up this time.

100$ or 200$ increase or decrease in bitcoin price is always expected from bitcoin, it is right that it is too much early to say anything about bitcoin price. But still if it is a rally then it is a good news for the bitcoin investors, and hopeful that they will be very soon recover all their lost, because most of the investors are still holding their bitcoin specially those people who trade bitcoin above 15000$.

spicybanana

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Quote from: matthewoz101 on July 02, 2018, 02:27:17 PM

I see that the price of $BTC went from $6300 to $6600 very fast. I'm wondering why that happened and if that's a bullish sign.

Since we did not go under $5800, it feels like the bearish market is starting to run out. If we continue to hold at these levels, is the bullish market coming sooner and faster than expected?

Also, I wanted to ask how Bitcoin Future Contracts work and if there is a possible relationship with the price jump. From what I understand, people agree on Bitcoin future contracts by agreeing on a price and time to sell BTC for? Is that correct? Or could someone give a short explanation on how they work and how they can affect the price?

It is still too early to say. Earlier we saw bitcoin rising up to 6400 very quickly and dropped off again. It shows the market is still very unstable but I do hope it is going to keep pumping up this time.

matthewoz101

jr. member

Activity: 308

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I see that the price of $BTC went from $6300 to $6600 very fast. I'm wondering why that happened and if that's a bullish sign.

Since we did not go under $5800, it feels like the bearish market is starting to run out. If we continue to hold at these levels, is the bullish market coming sooner and faster than expected?

Also, I wanted to ask how Bitcoin Future Contracts work and if there is a possible relationship with the price jump. From what I understand, people agree on Bitcoin future contracts by agreeing on a price and time to sell BTC for? Is that correct? Or could someone give a short explanation on how they work and how they can affect the price?

Topic: Bitcoin price jump - Is this a bullish sign? - page 3. (Read 534 times)