Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
Some of the big wales entered crypto and invested in bitcoin and pumped its price very high (19K) at the end of 2017 (nov-dec). But gradually the price decreased and people thought that it was a drop in price and bitcoin is losing its value but it was a totally different issue it was just a temporary pump and bitcoin as recovered to its original price. I think it's not a drop in Bitcoin value but still it the best time to invest in it as until the end of 2018 it will surely boom to an all-time high price. 
Topic: BTC at its previous resistant. What will happen ? - page 2. (Read 408 times)
I have heard that the Reserve Bank of India intend to ban the crypto currencies next month. Probably, this negative news impact on the price of Bitcoin and other crypto currencies now. BTC (-3%) is shown as a quite resistant in comparing to altcoins (-11%). It isn't going down lower than $9000 yet, and this is its current resistance level.
They are going back and forth with this banning. There used to be such rumors back in the day.To give you a short reminder:
In a Blow to Bitcoin, India Bans Banks from Dealing in Cryptocurrencies
https://bitcoinmagazine.com/articles/blow-bitcoin-india-bans-banks-dealing-cryptocurrencies/
Followed by:
No, India Has Not Banned Bitcoin Trading, Government Confirms
https://www.newsbtc.com/2018/04/07/no-india-not-banned-bitcoin-trading-government-confirms/
So now we are going to go through this FUD again? Give me a break.
This is a silly question, BTC at its previous resistant than if you really learn how to trade using technical analysis than you would sell your bitcoin when there is a breakout to the downside. Unless you're holding and looking at higher timeframe than weekly chart, then you should still holding as there are no sign of monthly downside overturn.
A really silly question. Firstly, no one can even know how the movement of bitcoin would be like, but as it is, bitcoin is still trading outside the downtrend and that is what should be important for a long term holder. Anyone who is really ready to trade should not even be asking questions such as this, otherwise, I wonder why they should be trying to in the first place. The problem is some people are trying to take advantage of the market, but the truth is they really do not have a single clue of what they want to do.No need to do worries for the resistant level because the price is rising but in a slow motion and it will not go down.
Unfortunately most traders do get worried at most of resistance levels due to some sudden pull back of market movements. Even they are well aware of how resistance levels are working, they start worrying about reversal of trends. But at this point, we can be sure about bulls to come into action again as market still remains strong with respect to volume and by most indicators.
Well, it is good question. The thing is BTC has fallen for last few months which was very shocking for us. But if the price can fall down the price can also rise up. No need to do worries for the resistant level because the price is rising but in a slow motion and it will not go down.
This is a silly question..
I don't think it was just a silly question. I just wanted to know your idea and opinion. Because weekly chart is not a shorter time frame ( of course it is not a strong higher time frame too) and if you take a closer look at it you will see some sort of resistant is creating at that level ( where there is a previous resistant level ). So I just wanted to know your idea as most of you here are senior than me
I wonder if you missed that because as at the time which you dropped this post, we were way past that resistance already and trying to find a support, so the question you are asking is not sounding relevant in a way.
I am looking forward to some situations that could happen with the Iran deal, US fud, and things heating up in Syria, I am waiting for some announcements. If we officially back out of the Iran deal, the lack of stability could actually push BTC up--but I feel that the big boys would then respond by pushing it back down because they don't want people to run from the dollar to BTC.
Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
Base on the technical analysis of BTC the probability that it will go up for the next consecutive days are very high. The volume is there and the second waves of buyers are coming in. What do you think guys on my predictions?
By the way OP can change the resistant to resistance.
Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
what rejection signs are these, I have no idea. please elaborate.
what we have bitcoin that is still above its previous "buy support" not resistance. and it has a while to go before it reaches that bottom again. that support line is currently at $8800.
and if you look closer at the charts you can see this buy support has always been very strong and is slowly rising up too which shows people are losing faith in price going that low so they place their orders higher each time price is headed that way. it started at $8500 then $8600-$8700 and now it is at $8800-$8900 you can see after testing the bottom price JUMPED back up to $9200 because of all the buys.
in other words people are short term trading bitcoin, buying at that bottom and selling near $10k. that is why we have this weird ass sideways trend.
this WAS the going down. now it is time to go back up and test 10k again.
I do not think anyone knows what will happen to the next bitcoin price. all of that counters the users as the rising and falling prices will be heard by the supply and demand.
Yes. But don't you think that we can apply technical analysis knowledge for crypto charts ?. I accept that crypto has no any considerable price history. But can't we use support and resistant knowledge to tell what will happen on the charts than only relying on supply and demand thing ?
what rejection signs are these, I have no idea. please elaborate.
Last week price was not able to cross its previous week price level and has closed inside the previous week candle. Current week candle is a bearish candle ( at least for now). Those are the price rejection I was talking about and that has happened near a resistant level ( that resistant is actually a previous support level from upper level ) . Let's see what we can tell after closing this current week candle. I'm expecting a price drop at that level.
I do not think anyone knows what will happen to the next bitcoin price. all of that counters the users as the rising and falling prices will be heard by the supply and demand.
Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
what rejection signs are these, I have no idea. please elaborate.
what we have bitcoin that is still above its previous "buy support" not resistance. and it has a while to go before it reaches that bottom again. that support line is currently at $8800.
and if you look closer at the charts you can see this buy support has always been very strong and is slowly rising up too which shows people are losing faith in price going that low so they place their orders higher each time price is headed that way. it started at $8500 then $8600-$8700 and now it is at $8800-$8900 you can see after testing the bottom price JUMPED back up to $9200 because of all the buys.
in other words people are short term trading bitcoin, buying at that bottom and selling near $10k. that is why we have this weird ass sideways trend.
this WAS the going down. now it is time to go back up and test 10k again.
Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
Well sometimes we can not predict it and/we can guess what will happen next we are free from thinking, figuring out and guessing but sometimes that guessing and figuring out can help you because there is a kind of combination when you keep on looking for the pattern on weekly charts.
AND SOMETIMES that situation can help but like I said we can not truly say what will be the next move will it be an up for green and a down for red.
Trading skill is not equal to invincibility because price changes are random and constantly changing. Compared with skills, I think that experience is the most important factor in the BTC market. However, it takes energy to do some research.
To many fundamental that needed to consider and we should watch if any of them but looks like this current denial is just a pretty normal since might provably some of the big players are preparing for a bull. And if you can afford to watch for daily developments then much better for you to execute a right decision before anything good scenario happens.
Well,despite of these negative issue we have also positive side that really good for trades as long as they know what they doing, and if will happen again I believe that will recover again after all . On other hand we have also some reason why bitcoin fall, because some implemented rules and regulation in some nation will have also negative impact to bitcoin price, aside from that the volatile price of bitcoin will also challenge to some investor.
though the experts are guessing what happens with Bitcoin price, it is very difficult to predict the price of Bitcoin. The market price of bitcoin is not dependent of the negative news which are spreading, I heard that, RBI going to ban the crypto currencies in India But I hope this is not effecting anyway in reducing the price of bitcoin. It completely depends on the Market value of Bitcoin, and now a days the size of traders increasing every day. Hope there is a sign of rise in the price of Bitcoin. Holding and selling at a right time is the main key point in this trading. I purchased some value of bitcoins when it went down to $4000 and Now I am holding.
I hope it will not go down as it is a crash. Many investors and people who are willing to join the cryptocurrency craze will not anymore gain interest if that happen. And that will make bitcoin dead which I will say is unlikely to happen because of the huge community supporter and its popularity.
It is likely that bitcoin will find support around $8500 to $8000! The mini rally we have seen is coming to an end gradually. When bitcoin find it support , there should be some stability before another rally.
This is a silly question..
I don't think it was just a silly question. I just wanted to know your idea and opinion. Because weekly chart is not a shorter time frame ( of course it is not a strong higher time frame too) and if you take a closer look at it you will see some sort of resistant is creating at that level ( where there is a previous resistant level ). So I just wanted to know your idea as most of you here are senior than me
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