Topic: Bitcoin Remains Above $7,200 For 3 Days; Where is the Market Headed? (Read 738 times)
September 10, 2018, 11:41:10 AM
That growth stands only for four day and after that drops to the price today,l hate to think that mnipulation is really indeed in crypto market,and these whales making this profitable market as theyre mining place which giving them lots of money from the noob and weak here in crypto
September 10, 2018, 10:28:16 AM
The bottom is $5800 but that doesn't stay for a long time there as it climbs up to $6k clearly a strong support for that bottom pushes the price back I hope it will not go deeper than the bottom last time as the market manage to sustain that price whenever the market falls sharply influenced by the recent news, bitcoin can climb to the range of $10k again this coming months probably headed to $20k if things gone smoothly.
September 10, 2018, 04:25:28 AM
MAYbe the market price now are enough to answer your questions mate
At first i almost believe that this is the long wait since the last quarter is coming,but after just a week now the price drops again and a big falls of more than $1,000 value.to give points to your concern well this is the sad truth that market now are in bad shape so we should not expect anything but to accept what the market value is
At first i almost believe that this is the long wait since the last quarter is coming,but after just a week now the price drops again and a big falls of more than $1,000 value.to give points to your concern well this is the sad truth that market now are in bad shape so we should not expect anything but to accept what the market value is
September 10, 2018, 02:45:23 AM
Bitcoin Remains Above $7,200 For 3 Days; Where is the Market Headed?
Since early August, Bitcoin has shown a level of stability it hasn’t seen since early 2017. Throughout this week, bitcoin price has remained above the $7,200 mark.
Since Sunday, the cryptocurrency market has not seen any major movement to both the upside and downside, possibly due to the lack of momentum and volume in Bitcoin, Ethereum, and other major cryptocurrencies to initiate a strong mid-term rally.
But, the stability shown by Bitcoin could be considered as a positive indicator for mid-term recovery, as it is highly unlikely for any asset, commodity, or currency to see a major trend reversal following a 70 percent correction within a period of several weeks.
Where is Bitcoin Going Next?
Based on the simple trend Bitcoin has recorded since January, the solid short-term recovery of BTC from the $6,000 mark to the $7,200 resistance level should be sufficient to lead BTC to test major resistance levels at $7,500 and $8,000.
The reversal of moving average convergence divergence (MACD) in the low price range of BTC at $7,200 suggests that $8,000 is the next short-term target for Bitcoin as shown in the weekly chart of BTC below.
One concern is that in previous recoveries from the $6,000 mark, Bitcoin price has climbed to the range of $8,000 to $10,000 relatively quickly. Since early August, BTC has initiated a slow rebound from the $6,000 mark to $7,300, without significant spikes on the upside.
Flood, a highly regarded technical analyst within the cryptocurrency community, stated that the close of the 3-day candle of BTC on September 3 is optimistic and that it may trigger the price of Bitcoin to rise in the short-term with solid support.
“Beautiful close. Rally from yearly lows intact. Next 3D close will be massive for $BTC especially given the huge short open interest. Low volatility with a huge cash buyer providing support. I think it’s unlikely the shorts are a massive ‘synthetic put’ ‘ala OKEX style,’ he explained.
Both 3-day and weekly candle charts of BTC demonstrate a movement to the upside for the dominant cryptocurrency in the short-term, especially if the volume of the currency can hold up in the $4 to $5 billion range.
https://www.ccn.com/bitcoin-price-remains-above-7200-for-3-days-where-is-market-headed-to/
I try not to look at these charts, because I do not trade daily. I believe this is only interesting to those who are a trader. For example today bitcoin 6300. He lost $ 1,000 in a week, and what does that give me? absolutely nothing, so it's a waste of time Since early August, Bitcoin has shown a level of stability it hasn’t seen since early 2017. Throughout this week, bitcoin price has remained above the $7,200 mark.
Since Sunday, the cryptocurrency market has not seen any major movement to both the upside and downside, possibly due to the lack of momentum and volume in Bitcoin, Ethereum, and other major cryptocurrencies to initiate a strong mid-term rally.
But, the stability shown by Bitcoin could be considered as a positive indicator for mid-term recovery, as it is highly unlikely for any asset, commodity, or currency to see a major trend reversal following a 70 percent correction within a period of several weeks.
Where is Bitcoin Going Next?
Based on the simple trend Bitcoin has recorded since January, the solid short-term recovery of BTC from the $6,000 mark to the $7,200 resistance level should be sufficient to lead BTC to test major resistance levels at $7,500 and $8,000.
The reversal of moving average convergence divergence (MACD) in the low price range of BTC at $7,200 suggests that $8,000 is the next short-term target for Bitcoin as shown in the weekly chart of BTC below.
One concern is that in previous recoveries from the $6,000 mark, Bitcoin price has climbed to the range of $8,000 to $10,000 relatively quickly. Since early August, BTC has initiated a slow rebound from the $6,000 mark to $7,300, without significant spikes on the upside.
Flood, a highly regarded technical analyst within the cryptocurrency community, stated that the close of the 3-day candle of BTC on September 3 is optimistic and that it may trigger the price of Bitcoin to rise in the short-term with solid support.
“Beautiful close. Rally from yearly lows intact. Next 3D close will be massive for $BTC especially given the huge short open interest. Low volatility with a huge cash buyer providing support. I think it’s unlikely the shorts are a massive ‘synthetic put’ ‘ala OKEX style,’ he explained.
Both 3-day and weekly candle charts of BTC demonstrate a movement to the upside for the dominant cryptocurrency in the short-term, especially if the volume of the currency can hold up in the $4 to $5 billion range.
https://www.ccn.com/bitcoin-price-remains-above-7200-for-3-days-where-is-market-headed-to/
September 09, 2018, 06:15:29 AM
"Market place is unpredictable because of its nature. It’s hard to say that in which way market is going
but it seems like bitcoin is recovering. Investors are positive because of its behavior and so are we.
Lets hope for the best."
but it seems like bitcoin is recovering. Investors are positive because of its behavior and so are we.
Lets hope for the best."
September 09, 2018, 12:51:48 AM
Bitcoin price rise and fall keeps going on. No one can make sure whether it will be stayed the same or it will be changed in some few days.
hero member
Activity: 2660
Merit: 651
Want top-notch marketing for your project, Hire me
September 08, 2018, 12:09:05 PM
This is a good thing that the coin is hitting an upward curve. It means that the market is slowly coming out of the bearish state that it was in and is on the verge to hit the bull run.
That's not a valid information because the last time I check the chart is yet to hit an upward curve and if it going to hit upward curve that will be on Monday. However, the bull running market of this year is not certain. September 08, 2018, 11:34:16 AM
The momentum has been disrupted again and Bitcoin is now priced at 6,900$. Though it looks like a small set back for how the price has gone up for the last few days, but a lot of experts predicted this before Bitcoin goes to moon before the year ends. So, now we need to wait and see if those predictions have any truth in them.
The market is volatile so you will never determine where it will be heading but the best thing to do as of now is to be patient on waiting for the market price to grow.
September 08, 2018, 11:23:34 AM
The price pump made the people stomped. I thought after three long days things will become normal. But it seems to stay put in it's postition.
September 08, 2018, 09:40:25 AM
It is impossible to predict how Bitcoin price will move, All we can tell is our own guess, and of course we are all hoping that the price will rise up again.
September 08, 2018, 09:34:49 AM
Well, apparently it was headed downwards. The price is around 6.400 dollars right now. Without knowing what the whales are thinking or aiming we are not going to know which direction the bitcoin price will be headed.
We can only assume what the price will be but our assumption won't go anything above the "guess" we are making because its just that, a guess.
We are making up prices on our heads for what it will be or some people check indicators for how much it should be but in the end all of them are wrong (well some of them are sometimes right by luck) but in the end the only people that knows what bitcoin will be is the whales that decides on the market.
We can only assume what the price will be but our assumption won't go anything above the "guess" we are making because its just that, a guess.
We are making up prices on our heads for what it will be or some people check indicators for how much it should be but in the end all of them are wrong (well some of them are sometimes right by luck) but in the end the only people that knows what bitcoin will be is the whales that decides on the market.
September 08, 2018, 08:42:08 AM
It is very difficult to predict what will happen to the crypto market because it is very volatile. But, the price will remain high at this time of the year because people started to invet on crypto as the price was low for a long time maybe it will hit 10k mark in my opinion.
September 08, 2018, 08:33:39 AM
I think this is a very good sign that the market is stable for a time for bitcoin and the price is rising slowly. But, at the end of every year the price of the bitcoin increases. Maybe that's why it is increasing now. What ever the reason the price of bitcoin rising means all other cryptos price will also rise.
September 08, 2018, 08:23:50 AM
I think this is a very good sign. Soon bitcoin will hit the 10k mark. If bitcoin's price increases all other crypto's price will also increase I think.
September 08, 2018, 07:59:03 AM
As far as i understand most of the times this prediction goes wrong. Having prediction by doing own researches are always preferable to me. I think we will see bull run soon for bitcoin.
September 08, 2018, 07:47:22 AM
The bitcoin market is in a good position now. Investors are hoping that this situation will make the market bullish. It looks like big possibilities are there but still we can not just ensure it.
September 08, 2018, 07:11:57 AM
May be this is how the price will rise between the end of the year like the history repeat. If the price will be stable till the end then there is a good chance to increase the price of bitcoin.
September 08, 2018, 06:35:32 AM
This clearly shows that the market is no longer bearish, which is a good thing. Let's hope that the market does not take any further fall and reaches bull run as soon as possible.
September 08, 2018, 04:36:52 AM
Maybe this is a sign that the market is no longer bearish and that it is finally hitting the bull run. And this is a good news for us too because BTC is now at a stable pace.
September 08, 2018, 01:36:00 AM
I think the current market conditions are falling again and the condition of bitcoin prices is falling again and you must be able to use it to be able to get a lot of profits and not to be affected to sell at a very cheap price.
Jump to: