Topic: BTC analysis for this month! (Read 2338 times)

It was actually for the good of Bitcoins that it stabilized and went down, gave alts a chance to rise back and people made good money in terms of both Bitcoins and fiat as when they made better % over their investment in altcoins, they might have waited by not selling their BTC till now. As market-makers are now creating new records, we are probably heading towards a slight downfall near 14500 after which the rally looks to be continuing and going all-the-way bullish till 18600 and 22560 levels. Let's wait and watch what futures have got in the game as chances are - if the investors over the world decide to hold and not to short, I think those levels will be reached this year itself (maybe Christmas eve).

I think that people panicked way too much over the Tether hack.

And right now we're seeing the recovery as quick as the dump itself had occured which is encouraging to see. Again it seems to show that bitcoin's price is pretty much bulletproof and even a $30 million hack did not matter and can't stop BTC from rising. This compared to the Bitfinex hack last year is just so different.

I think that your values(9950 and 11600) are spot on. 9950 being that one last push until $10000, and then the go ahead signal at $11600. Both are crucial.

UPDATE: As you saw, the value went above 8400 but due to some disappointing facts that tether got attacked and hacked, the value plunged back below 7900 as it slipped down >$500 making it to lose up to 6% at a stretch, but the recovery from that level is amazing. We are in the middle of a storm where some stops will possibly be touched over 8500 level and if it continues the breakdown over altcoins, there are two values which are looking really easy to be broken, and they are 9950 and 11600 respectively.

UPDATE: Sorry for the long delay as I was busy with some issues. The value went down to 5750 and was shot back to very 7900 and is currently 8k. We have our next target at 8500 which holds as a resistance for now based on price action, and I believe that it will break that very soon as we are extremely near to that target and once broken, 11k won't be too far. The base for this increase is the surge in investors who are getting added to the list and pushing the prices higher as they have something huge in mind. Stay calm, hold tight and let the Btc rock.

It's still a mystery how everything will go at first place after the fork as there doesn't seem to be a replay protection attached to S2X hard fork and many confusions as well as misconceptions are already there in the markets that are misleading everyone about the fact on Bitcoins and B2X. I see the price dropping a bit near 6000 - 6500 range after the fork for the majority to show which Bitcoin will they support and if the current coin remains the choice of majority, then we will be above 10k this year itself which is now my main target. This is the place which I have been waiting for.

True, many people doubted bitcoin and never believed that it will be this big. The chart is still going upward and it is looking good for all of us especially the holders because this will prove how important it is to be patient and to be smart in earning bitcoin. Regret will be regret and I know many people will feel this because many have gone panic selling during the hard fork.

UPDATE: We have finally accomplished our target of 7500 USD per BTC which is an incredible achievement for all of us.
This confirms that we will be heading towards 10k in 2017 itself and it will be very smooth this time as the levels above this look much easier due to the current market cap that's increasing day by day and BTC is looking to prove its majority above alts. May all those weak hands RIP who never believed this will be here (said for some special people I personally know).

It's not rising because of the development alone as the fee structure still needs to be reassessed and they need to think about it once again that once Bitcoin rises to 10k levels, how will they manage to curb the fees that may go absurd for all of us. I am not in favor or S2X or any other altcoins but I think that the forks are the reason why Bitcoin is gaining too much attention in the media as well as celebrities and some big names joining Bitcoins and even a few countries talking and a few already legalizing the existence of Bitcoins. I saw a news recently where they said that Amazon has bought 3 cryptocurrency domains, so I think that there's much more to come.

earlier this month was so good for bitcoin development. rising bitcoin prices today are proof that bitcoin prices are so good this month. well, I think that bitcoin price will rise again this month.

UPDATE: Being very close to our projected value, i.e.; 7500, I would like to congratulate everyone of you once again for being a part of the world most expensive currency of all time. Hold on your breath because we are yet to accomplish our target, but I believe that if this gets broken before the end of November, 10k will become a 100% possibility in 2017 itself. Let's just wait for the hard fork and remember, don't sell currently as I have seen exchanges trying to manipulate the values so hard that the margins have gone way above 200 - 300 USD. It's not the correct time to get what we want, let all of this stabilize and margin be lowered.

Just the way we all thought, it was just a normal stop and nothing that came and went off. Still, cautious situation is there until we cross tomorrow's date after which we will see the real potential of Bitcoins. It turned down to be one of the safest investments for everyone till date. There's nothing wrong if we hold because the buy pressure is looking enormous and 6k mark is already crossed, now the next level where I see the new ATH will be, is 7500. Yet unconfirmed of the breakout that's yet to happen above the 6700 mark. Charts are showing positive signs of convergence as well as increased volumes so, be prepared for some new highs to be seen this year.

I am sure that this rollback is a natural pause before the jump. For all reasons of logic bitcoin can not go up in price at least until October 25. Subsidence rates may be related to the whales play in the market but they can't keep bitcoin down. I'm sure the rest of the week we will see the price touch the mark of $ 6000.

I really don't think it will go back to 5000$ although it might bounce back to 5500$.... Bitcoin heading to 10000 from now to January

A little correction is expected here, but we cannot consider it as a panic selling. In fact people will like to get profit from their investment and they will try to sell their bitcoin at some profit. Therefore the price can get lower. But hope that very soon the price will again recover its price when investors will become interested to do investment in bitcoin again. I think we can expect that at the end of 2017 the price of bitcoin will be trading above 7000$. Because bitcoin has the potential to increase more.

I do have the doubts and i do have the feeling that there would really be a nasty price correction later on.Come to think off if theres an abnormal sudden price increase we do really expect on the possible opposite things to happen later on. For now seeing on the price of bitcoin on this fork event it somehow stabilize its price on theses ranges but yet i do believe that there would something to happen later on.

I'm not sure about this, but the value of the bitcoin suddenly increased dramatically in just a few days, which made me feel very nervous, it was too abnormal, never going up so fast as this time.

It is currently being traded as a swing-ing asset which could most likely be dropped before it starts making some real gains back but in a steady motion. I somehow agree to people saying that it could drop but not "badly" and the reason before its drop will be the sudden gains that it realized during last few months. It's in the interest of bitcoin if it goes steady instead of showing spikes. I also want 10k but not in one go, it should take some quality time before it gets there.

since bitcoin is bullish as of now, it is safe to say that we must be cautious this time, since bitcoin gold is already hyped and most new investors today are just planning to get their hands on bitcoin gold knowing that it is free cash an then they will but a lot of bitcoin gold using the profit they have gain from the rally of of bitcoin, just like what had happened in august, after bitcoin cash, the value of bitcoin fell, since they did profit taking and there was a lot of FUD during that time, and this time for bitcoin gold, it is not an exception, since the trend seems to be repeating, however, the price of bitcoin will not go down below 4000 usd just like what had happened before, i think the price of bitcoin will go down around 5500 to 6000 usd before the november's fork and then will have a true correction, as of now, with the bull run of bitcoin, i do agree it is a bull trap, that's why we need to create a new strategy on how we can win with this situation. hopefully the price of bitcoin can breach around 7000 usd with this bull run,before bitcoin gold, though it is only a few days left, we can  never tell, since the volatility of bitcoin now became more and more active, and what we need is a lesser volatility for a correction, and from what i see, bitcoin's high volatility will continue until the end of the month.

Latest stance on BTC: Hey guys, hope my targets helped you determine the best levels where you may have been able to decide where to sell your coins and buy back. What I feel now is that, this is looking currently to be a bull trap and 25th Oct will burst the value back down to 5k somehow (I know it already went near 5100). Still, I am bullish on this and the cross over above 6k and this year's chart both have confirmed that the next target of 10k is conservative and we shall be there before the end of 2018 because of the increased demand. We are heading back to 6k and I maybe wrong about my thinking that it might get down again, as BTC could continue its rally without any pause.

UPDATE: We were so near to reach our next target at 6k to see if it tests the higher levels at 7k and 7500 but the target didn't accomplish as it looks like whales are satisfied with the current price that's being pulled between 5700 and 5850. The resistance at 5k is still strong and won't let the price get drowned below that level as the volume is very high and the momentum is making it to look like an extremely bullish trend that doesn't seem to be ending soon. I am not scared about the fork because whatever will happen, everything will be in favor of Bitcoins and let the positive side win.

For your statement, I would like to say that it's in no doubt a buyers' market ATM because they are buying hard to get BCG but I think that even if the price dumps during October's end, we won't be seeing it below 5k because till then, it will (possibly) have its target achieved of 6k-7.5k range which will give it too much strength to absorb the blow that is incoming. Not worried though because we will probably see 10k before 2017's end and I am having a strong gut feeling about that. These values will become historic once fork scenario is settled, either way up or down.

It's a good achievement but it's much more better if it was achieved by just a normal and usual way of investor's demand.

Since another fork is coming, we can't erase the fact that the reason of this price increase is also associated with those who want to have some shares of BCG after the fork. The action will now started after correction if ever there will be a dump after the fork.

Anyways this is just a speculation so let's see what will happen at the end of the month.

After touching a low of, 2900$ to again going to all time high I am very much sure that it shall have support resistance at 4500$, if due to the fork it can only fall upto 3500$, anything below that one would have to be careful and start buying in slow dips. If the fork doesn't effect Bitcoin much, then 5500$ is a realistic figure and with segwit2x 6000$ could be hitting us soon, as both the forks are coming within half a month, it's interesting to see what will happen, I feel one should keep a track on the fork news and buy at every dip as the long term is very good.

UPDATE: Congratulations guys, we have successfully achieved the first halt that was above 5000 and as I told earlier, the price needed to break 4500 and then a rally will be injected which we can already see. 5k is currently the strongest resistance level and looks like it will remain here for 2-3 days and according to my thinking, BTC won't be under 6k in the next 2 weeks. Always remember one thing here, never go for alts during BTC's spike period because alts will always go down and you will only see max 10 coins out of 100 which may show some good moves (not considerable though). We will be over 10k very soon, hodl tight guys.

It's a huge price and it's possible to happen for this month since we are heading on the upcoming fork and that really made bitcoin to reach at that price. And I guess the fork's success doesn't matter at all, as everyone is expecting a 2-in-1 coin upon buying bitcoin. They've got the most valuable coin while happening the fork they'll be exporting their very own bitcoin gold and it doesn't matter the price of it because it's a free money.

It's a huge price, it can revived its price by $4900 that dips when the China bans happen, before hard fork it will really increase since last fork were successful on making bch and everyone wants to have some free again.

Yes it's possible, the price went down quite lower at $4,751 but yet it is still a big price. Hours or not but I have this guess that before the hard fork we will be able to see it hitting the $5,000 target range. Two things are about to come just like the good old days. Bitcoin on discount/sale or bitcoin at a expensive rate on an auction but mostly after the hard fork the price is pumping quickly and this will be a good time to hold.

It seems to me that $ 5,000 is a psychological barrier. We reached it already for a few hours but I think it was due to speculation of whales in the market. Now after a long period of falling prices has created a vacuum and once you overcome the barrier of $ 5,000, the price may shoot for the moon. Whales don't miss the opportunity to fan the hype and pump up the price to the maximum. Then it will again decline but below $ 4800 dollars we will not see.

things never work that way.
there are resistances to be broken, and there needs to be some force deriving the market so that price can go up!

the $5000 is a big resistance, mostly because it was the previous ATH but also because it is kind of a round number and a big target for many. which is why it may take a little longer than you may like for it to get here.

At the current speed, it is quite sure ! only 200$ dollars from this 5K target, it's a matter of days (maybe hours...)

Possible that before the fork we may experience $5,000 or higher. And the increase of bitcoin pattern is real, the market will tell us that everything will happen base on the situation and events for this month. Just like this month because of the fork the price increased and I have a guess that maybe the real test next month will lead bitcoin for another ATH.

yes this month bitcoin prices tend to keep increasing. maybe some news like bitcoin gold has made the bitcoin price increase. but I am sure that in the coming months bitcoin prices will increase again, so it is likely that bitcoin prices could exceed $ 5000 by the end of this month.  some analysts say there will be a spike in prices on 25 October 2017. we all have to wait until all this becomes real.

Hey double, your chart seems to be accurate and positive. And it's very good to see that the price is increasing now as this hype is because of the bitcoin gold but it's just made to pump. I like on how many big new comers are starting to make some noise about bitcoin and they just love it. This month is really a rally for bitcoin but I'm curious about the real test of bitcoin next month.

The price of bitcoin is going to be on a rise this month because of increased demand of bitcoin will benefit people with free bitcoin gold which they are so eager ro dump it the moment they get their hands on it and get a few dollars, how cheap people are! Sad that part time traders who are looking forward for altcoins price to increase and they get some amount as a return on investment but sadly the price of alt coins ain't gonna increase.

Hi.I'm happy to see your charts like this,I always see this in blockchain.info if I want to predict an indication where to the next move.I think of this thousands of times where next but hard to predict,the price is now upward go I see this far will continue to rise.

from my own observations bitcoin prices will rise again even though the increase
is not too significant with today's bitcoin exchange rate rises to Rp59 million and
will still rise again, which is the bitcoin price charts in 2017 experienced a very high
spike, in for days this bitcoin exchange rate in Indonesia is upgraded pretty recently,
 and the latest bitcoin news according to the world market is running up pretty good
gains this week and in the first 10 days of the month, and is the predicted bitcoin increase
 that almost in 2017 is experiencing a lot dominant in spectacular spikes, and has become
the history of the world's currency about bitcoin whose price is so tempting

Some factors also that could add the price increase if with the coming of more and more investors either from rich guys or some local traders. Because even if those work out but if another big company or state like China would change their mind then the success from those activation would take only a short time. So for me, i still hope their are more investors in bitcoin so it could help surge bitcoin.

Agreed. I think that the pump will take us to $7k+ if the news with Segwit2x will be positive instead of negative, and we see quite a big bubble developing in the bitcoin price that will not pop for a few months.

However, the price forecast will depend a lot of bitcoin gold and Segwit2x, what turns out and how the markets react to the news.

If the news is negative then we could see bitcoin head down to sub $4000 once again.

i think for this month, the value will keep on increasing, considering the news we are receiving, all seems to be positive, we should also keep in mind that as this month there will also be another fork and it is for bitcoin gold, all the graphs are also showing positive outcomes, there are also reversal of the chinese decision when it comes to their exchanges, as long as they are licenses, it means that they can operate, japan as well had endorsed 11 exchanges and then there is goldman sachs, they also wanted to have their own exchanges, i think an increase in exchanges could also mean an increase in interest with bitcoins and a lot of work for miners. i think it is safe to say that this month, we could see bitcoin again having a value of 5000 usd or even more and by the end of the month, it might be reaching a new record and also by november, next month, we could see that bitcoin might go over to 6000 usd or even 7000 usd, if all runs smoothly with the forks and probably we might not a hear another word from jpmorhgan's jamie dimon, bad mouthing bitcoin, since a lot of support is coming for bitcoin.

Not only this time bitcoin is volatile ever. No one can predict what going to happen tomorrow. We can only try to predict its value.


On this oct the graph is almost the mirror image of the image you have posted. the value started increasing . And we can hope that it will reach around 5000 $ at the end of the month.

It is hard to speculate the price right now, nobody can predict how much money will be worth tomorrow, but it needs to touch $4500 asap, because that would mean that the bullish trend will remain, if not, then probably we are going to go bearish again and maybe we would see the price below $4000, i really hope that this is not going to happen, because it would be bad for all of us.

I am seeing bitcoin price to $4500 or more this year ends. Though bitcoin price is uncertain its value daily, time to time because its hard to speculate at the exact price. But still Im hoping it will reach more than $4500 this year ends.

It seems the bitcoin survive around $4200-$4500 this September but I'm hoping it'll improve in October and higher appreciation will occur before the year ends, but if we compare the price movement from last year and now this november and December will be the right time to see the price rises until January this basis what is happening of the year and I hope in the month of november will be an increase in the price of

Well since bitcoin is getting more impressions and trends some people would be interested that can share to other people that is why it is getting more popularity but if they experience of investing and experience of price down just like what happen from past months ago people who using bitcoin are reduced. so i think we are still in normal states of popularity.
The popularity is not a problem that is why there are developers are keep bitcoin develop if there is issue bugs and problems they are fixing it..
I think for restriction here in my country bitcoin is legal no government action as of now.. and i think there is no reason to make bitcoin restricted to use. because mostly business online right now are accepting bitcoin as payment.

UPDATE 2: Guys, we were lucky to have reached 4450 price level before the end of October and I guess there are some more surprises waiting ahead in the near future, some exciting events happening:
- Decision of miners over SegWit2x
- A new hard fork possibly named "Bitcoin Gold".
- May define a new era of Bitcoins or Bitcoin will still get the victory.

Don't know what will happen, but whatever does it will be extremely exciting. Stay tuned for the real story that's yet to happen during this whole month.
We are now heading towards a big bubble and I can assure you that this time, it's not small.

Hey, you are extremely welcome!
And yeah, you are right that everyone thinks differently and have their own unique ways to see/believe things. I saw what charts told me and just like your gut feeling, I feel we may see some downtrend during the November - December phase because of all that hardfork shit that's currently going on. Still unaware because even a scenario may take place where BTC won't give a fuck to that and may move on.

UPDATE: Anyways guys, congratulations on Bitcoins breaking our first target of 4k and as expected, we are slowly heading towards 4500 which once reached, will confirm the bells that alarmed my mind to believe that it will be above 5k in October. It's going as expected, still a long way to go. Hope you all are enjoying with me.  

Ohhh well, a lot of us really do tend to see thing differently from one another, because im pretty sure that btc will be going down a lot this year, probably its lowest since the last hardfork. Although i do not have deadable and verifiable evidences at hand, I still believe this. Because I have been trusting my gut feeling for the past few months of being in this crypto world. And never did my gut feeling failed me. So having said so, I’ll just be waiting till this year is over before investing again, i might even go all in when my gut tells me to.

Great info tho, thanks for this.

I guess the price will stay as it is today and will only move in the middle of October as a preparation for the new hard fork in November. It seems bitcoin is playing around $3800-$4000 this September but I am hoping it will increase in October and higher appreciation will took place before this year will end. Anyway we are all speculators let's see what happen and maybe expect the unexpected.

As of now the price of bitcoin is already 3920 dollars and for sure before end of this month the price back agaij 4k dollars and it will become stable and for sure we will see again 5k dollars in the month of october. Thats my prediction and speculation to the bitcoin price next month. So if you want to buy now this is the right time . But invest only you can afford to lose because its very hard to know what the exact price of bitcoin.

IMO Bitcoin will be more popular after this year.But popularity creates both opportunities and problems.Good part is higher prices,bad part is governments gonna to take into consideration more strict rules against untraceable transactions.

Good analysis but bitcoin is unpredictable we can not sure if the price can be rise up more after fork maybe we can see if the price of bitcoin can be rise more up.. but if we compare the movement of the price from last year and now this november and december would be a great time to see the price increase until january this is base what happen from the past years and hope it could be happen to this coming november. I couldn't see any good potencial can be happen this coming october except if there are good news this coming month that can help to push the price up.

Yes, I was really scared about the 3500 and 3000 levels that if it would have dropped down back below 3600, this would have been very disastrous for the price to recover back but it did exactly how we all expected. It looks like this will still be stable till Christmas as every time, after such types of "basic" pumps are seen, the real one takes place during December only and lasts till January. Just checked and wanna share that if the price consolidates higher and manages to cross and remain above 4500 during this month, it won't be bad to expect a 1000 bucks increase the next month (in October) possibly because there's a line that's stopping and that's 4500 level.

It is nice to see that we can surely speculate the price and your chart shows that the value will surely rise because it did fall back when the price had reach the $4800 dollar and fall to the $2800, it did rise back to $3900 and I think it will surely need to rise up until we can reach the $5000 mark value.

Very nice analytical view on the current state of the market and actually the price is a bit stable and we expect a breakout that will lead to a significant momentum in bitcoin pricing. Though I am a news trader I am waiting for news that will come from China before the end of this month and see if I should buy or sell what I have.I will try to lean this technical analysis as a bird cannot fly with a single  wige.

I think we are already experiencing the initial pump. People seem to be back at it trying to get as much bitcoin below $4000 as they can and that helps the market establish $4000 as a cushion for a higher pump eventually.

So your analysis was spot on.

I think we may stabilize at the current level, for a bit, or even experience a correction before another pump of +10% or so.

Whenever there is a stability of price, the price is most likely going to go up directly afterwards. Just like your chart in the OP has speculated.

Even after the current pump i think it's still a great time to load up on coins before the end of the month. I'm fairly confident that the price is going to rise more as the end of the month approaches and have a real good crack at the $4000 resistance level this week.

Right now we are stabilizing at $3900 again, which means that it's probably going to shoot up to $4300 or even more for the short term.

As predicted, we've seen a pretty big rally up around $200 from yesterday to the price point right now of $3900+. The sideways movement was the foretelling sign that this bull wave is going to happen, as you have suggested.

Though i don't think that we're just going to stop here.

We're likely to go up to even higher heights like $4500 by the end of the month, despite Chinese exchanges closing down. And $4000 should be the new floor.

You are correct that the resistance is holding it back, but for good. Because if it goes straight away to those levels and gets dumped back once again, we will call it correction and I actually don't need it to be like that. Anyways, congratulations to all for holding hard because the price is soon to reach our Resistance 1 (4000) and then we will be marching towards the 4500 level which is currently the toughest resistance level to be crossed. Once Bitcoin goes par 4500, I don't think there's anything that could stop it from leaving its mark over the world with a new ATH.

this is not a strange thing because for some time this bitcoin price is always changing very quickly. if told to vote then I want a price that continues to increase. because when prices decline then the opportunity prices will continue to increase will be smaller. I am someone who has a high level of optimism. so I expect the price will soon go upwards of 4000 $. this will make the bitcoin price will be easier to increase in the future. while the decline in prices will only delay and also slow the development of bitcoin. I believe the price will be in the range 3800USD up to 4100USD at the end of this month.

From the graph you can see the resistance holding back the price but I feel that a lot of this may clear if there is good news to come out of china, in fact, even once things are fully clarified and there is potential bad news. I still see it as a good thing longer term.

Fairly maybe it is a good buy because it will surely go rise after a big drop on the price we can really see it maybe in the month of October, because right now I think there is a resistance right now but we can see a slight increase up to a $100 dollar and Right now it is on the $3700 mark value, but the month of September is ending I think we can really see the $4000 mark value again before entering the next month.

After seeing the chart we can surely see that the price is starting to rise little by little maybe we can really see the pull rise on October because this month has a lot of resistance beyond this and maybe because a lot of fake news and FUD had already reach many users.

It's already starting to move upwards it seems.

I think a conservative estimate of a level of $4k+ could well be possible if nothing changes from now and the end of the month. People panic sold their bitcoins for cheap when they heard that BTCChina is closing down and even though nothing has changed the panic is gone now and there is a lot of potential for a bull run here.

We could see BTC stop at around the curent level and hang around for another 2-3 days before moving up once again - good time to buy right now.

We have the floor at $3500 which is a pretty good support level. This will be the basis of the pump imo.

I agree with you, i think that this week by the end of the month we should see some action going on with the price. The resistance currently is at around $4k and i would not be surprised if that resistance is broken, and turns into a new floor.

Though it does sort of depend on news from China, whether there are more regulations coming out or not.

These wedges can break downwards rather than upwards - and the downward trend line looks stronger than the upward one. I think it will test $3000 again, and it it breaks through we're going to $2800

December?!? That's over two months away. That's like a lifetime when we're talking about crypto. Today we saw a very strong reaction from bulls, and it looks to me like we are going to be retesting the highs within the next few days. After that, it's onto the OTE zone (62-78% fib retracement area), where I expect bears to step in and try to print a lower high on the long term charts.

I'm not sure whether or not to expect a break of $5000 in the mid term, or a return to the $2000s (as many seem to expect). Keeping an open mind right now.

Whatever may happen this month I'm quite sure that bitcoin will soon recover. Maybe the factors that keeps the value of bitcoin right now is the issues on china and the coming fork on november. But still I'm expecting bitcoin to be higher until november or december. It's like bitcoin was only preparing for a big dump before the end of this year.

Just what a lot of people expected, I do hope that by December this will hit the $4500 mark.

Very likely to be true as currently we are seeing no real dump or pump happening and it seems to me that the whales are starting to accumulate some bitcoin once again quietly. If a pump does come it won't be surprising if the price jumped up to $5k+ finally.

Though, there are still limiting factors that keep price low.

For example the constant FUD coming out of China is really hurting the prospect of a big pump, which imo will happen again this year, eventually.

 I understand how price action works, but your assertion that you use no indicators need to be corrected, because the pivot points I see in the image are price-based level indicator that helps a trader spot support and resistance levels in the market.
As we have come to know it, Bitcoin have always shown propensity to go up, because more adoption readily translates to more demand and the only explanation for above market set up is that market has began marking time for the outcome of proposed hard fork next month and which is by the corner.

I noticed the same pattern on the top of this graph today, and came looking for this thread. It seems too accurate to be random, although I don't usually believe the "I can draw 2 lines on a graph to predict the price".

As far as "the Pivot point" goes: I wouldn't have drawn the lower line. That doesn't mean the upper line will continue on it's way down though.

If there's one thing Bitcoin thought me, it is that it can go both ways real fast.

If we do really base on technical analysis it did already form triangle and it would really break out soon going bullish which as those pivot points would really be reached out but we cant really be sure because of the upcoming news on this end of this month on which i do believe that we cant really depend or basing on the technical analysis itself.This is why im still on on doubt if it would breakout upwards or dip down because of the news.

This is not surprising. I expected lower prices. Only I'm sure this year will be another surge. But the statistics are interesting only for those who engaged in speculation on the stock exchange. I don't do that and so I will delight the price is even $ 2000. For those who forgot, I remind you that at the beginning of the year, we were happy that the bitcoin reached the price of $ 1,000. Human greed is limitless.

There are over $1000 missing on the table and it's all that I see 
To make it worse the price will surely go down again in the next two months, step by step, without any FUD needed. I'm not very optimistic about the Bitcoin value for the next two months. I decided to wait after November/December and see how the things will be

For me, I was expecting another dump coming this month before it ends. It will continue to rally later on this year if there is not that much FUD that will bring bitcoin price down. Also, there is a possibility that it will stabilize within the current levels it has now, indicating that there will be a bigger dump or pump later this year that is if this happens. I hope the latter speculation will be the one to occur and not the former.

Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.