Bitcoin Stable At $11K – Altcoins In Green: The Calm Before The Strorm? - page 5.

snipie

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Quote from: fabiorem on July 31, 2020, 09:48:30 AM

In my view, bitcoin should stay in this level for some time, between 11k and 13k, for stabilization, then resume the way up.

This requires generally a long consolidation period, couple of weeks or even months, but definitely possible!
I am always sceptical about fast rising and expect a dump just after it. Didn't expect we pass $11k and even to stay there for that long! We will see!

fabiorem

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In my view, bitcoin should stay in this level for some time, between 11k and 13k, for stabilization, then resume the way up.

rhomelmabini

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It has been on long accumulation on the $9k phase and still I'm looking bullish. Let that 12k be the resistance.

I thought that OP was the one who made a good analysis here, apparently it was from an article, still, thanks for sharing.

el kaka22

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I do not think that this current bull run was triggered by just one thing, it was probably combination of many things together. Like for example could it be late effect of halving? Sure it could be, and I am 100% sure that played a bit of role. Could it be new input of money from Indians? Why not it totally can be, I am 100% sure it played a bit of role. I believe everything positive combined together plays a role in this increase, not just one thing could increase the price of bitcoin, but when many good things get together, it makes it go up like crazy and be above the sellers amounts.

Obviously this could continue for a very long time and break the ATH prices, or it could drop tomorrow back to $9k, it all depends on how much hyped the buyers are and how much more they are willing to put into the market. So, being stable around $11 is not at all possible as far as I know how BTC markets do react after a bull run which includes breaking of major resistance levels.

BrewMaster

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There is trouble abrewing

the times like this are usually good for shitcoins. the times that bitcoin price has a big rise in a short time (a couple of days in this case) that causes the shitcoins to dump but then bitcoin stabilizes and that means shitcoins can pump specially since they had that dump.

jackg

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Quote from: rdbase on July 31, 2020, 08:24:34 AM

Some were saying it rose all the way up to $11.450 but not any further than that. Sad

It does look stable at $11,000 and won't dip below this until the next pump up comes with maybe a tweet from a celebrity or another fork happening. Grin

Yeah it's just consolidating and has been for about 36 hours now afaik.

Most speculators are probably waiting for us to drop out of oversold terratory on the rsi and stoch rsi before they have the confidence to invest. Hopefully this'll be a good excuse to test the 10500 support again and get a rejection to the upside but it wouldn't be unhealthy to just make another leg up to 13-14k...

Troll drops may also be likely if someone trys to offload here if its made news somewhere and they've just been holding and forgetting about it.

rdbase

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Some were saying it rose all the way up to $11.450 but not any further than that. Sad

It does look stable at $11,000 and won't dip below this until the next pump up comes with maybe a tweet from a celebrity or another fork happening. Grin

kolbalish

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Crypto Article Sharer!!!

BTC has remained calm in the past 24 hours, with minor gains towards $11,100. Unlike the primary currency, the altcoin market has seen impressive gains, including yesterday’s birthday project – Ethereum and Chainlink.

Although the US economy suffered its worst quarter since the Second World War in terms of GDP results, Wall Street is breaking records, especially in the technology field.

Bitcoin: Back to Stability?
The primary cryptocurrency remained relatively stable in the past 24 hours. Bulls intercepted a small price dive to $10,800 (Binance) and pushed the asset towards an intraday high near the $11,200 resistance. However, BTC couldn’t maintain its past days’ run and retraced slightly to the current level of $11,100.

If Bitcoin is to reach the psychological level of $12,000, it has to overcome two significant resistance lines, firstly at $11,300 and then the notable 0.5 Fibonacci level at $11,400 (the current 2020 high). Alternatively, $10,800 and $10,500 (prior 2020 high) will serve as support if BTC attempts a dive.

Full article is here to read and know more, https://cryptopotato.com/bitcoin-stable-at-11k-altcoins-in-green-the-calm-before-the-strorm/?amp

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