BTC breakout | Bitcointalksearch.org

Crytptohack

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HodL!

Quote from: richminded on March 02, 2018, 03:37:46 PM

Quote from: Crytptohack on March 02, 2018, 12:57:16 PM

I'm glad the analysis helped you. It's going to be a little bit of a struggle for the bulls at this level which has been apparent based on the chart. Once it breaks 11.7K for a few days, it should continue a volatile bullish run in 2018.

Technical analysis works for me too, this is my saviour and traders or even hodlers should know this thing. It seems like the volume of bitcoin every time it hit $11k are getting weaker but I believe it can break that level in the coming days, so be patient and bitcoin will fly high again.

BTC is going to break 11.7K this month IMO and produce higher highs based on the technicals of the chart. Some fundamentals apply like mass adoption, but I think the technicals rule this market.

Regarding mass adoption, there is Metcalfe's law which states 'the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2)'. With worldwide adoption of BTC, the user base continues to grow, so the value should continue to go up... HodL'ing long term is a good idea as BTC has not seen complete mass adoption yet...

richminded

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Quote from: Crytptohack on March 02, 2018, 12:57:16 PM

I'm glad the analysis helped you. It's going to be a little bit of a struggle for the bulls at this level which has been apparent based on the chart. Once it breaks 11.7K for a few days, it should continue a volatile bullish run in 2018.

Technical analysis works for me too, this is my saviour and traders or even hodlers should know this thing. It seems like the volume of bitcoin every time it hit $11k are getting weaker but I believe it can break that level in the coming days, so be patient and bitcoin will fly high again.

richardsNY

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Quote from: Crytptohack on March 02, 2018, 11:15:54 AM

It appears that there is definitely a fight between the bulls/bears at this price level. In general when there is a technical breakout, the bulls usually jump on the train and push it higher. Still waiting for that to happen... 11.7k will be a test for sure.

This 'fight' is a pretty normal event considering that there isn't anything hinting at a further increase yet. If we look at the last weeks, it's a positive development that the demand keeps pushing the price back to +$10k levels, which is a great sign. The only thing lacking is the actual incentive to support $10k in order to have it form a base support level. I like the silence in mainstream media land when it comes to them spreading fud. I have even noticed a slight positive tone when it comes to crypto, which once again shows how they surf on Bitcoin's movements to push articles and reports online. My impression -- Bitcoin moving down was due to government cracking down on Bitcoin, and Bitcoin moving up is governments being more open to fairly regularly this market. Cheesy

Crytptohack

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HodL!

Quote from: arpon11 on March 02, 2018, 01:48:46 AM

Quote from: Crytptohack on February 14, 2018, 08:18:10 AM

BTC broke above the 9017 resistance point which was a low produced on January 17th, 2018 from the GDAX exchange.

The next resistance level is 9499 which was a high point on Feb 3rd before the last drop.

Why is this important? Because BTC will be producing higher highs and higher lows which is the definition of an uptrend. This suggests that the previous low MAY have been the bottom price for 2018.

I say _may_ because BTC is still in the downwards trend channel. Once it breaks out an over the upper trend line, I speculate that it's off for a bullish (and volatile) run for 2018.

This your prediction has come to pass and we have taking advantage of it to make some money. Bitcoin has make significant progress since the beginning of this week till now and this morning I can see that it above $11,000. I think bitcoin is going to have another great progress that will push bitcoin above $20,000 that might trigger another bullish trend that will make December high a child play.

I'm glad the analysis helped you. It's going to be a little bit of a struggle for the bulls at this level which has been apparent based on the chart. Once it breaks 11.7K for a few days, it should continue a volatile bullish run in 2018.

Crytptohack

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HodL!

Quote

That $11700 barrier was really a tough nut to break it. We have been tested that price already like twice in the last two weeks, but we can't really get over it resulting to the price going downtrend last week. But its good to see that you chart was a good guide to see where the price would go. Currently we are just a shade above $11,000 so its another wait and see scenario. Bulls vs Bears will fight it out and let's see it we could at least get near the $11,700 levels and see it we can break it this time, otherwise it will be just a repeat of the previous week's, back to square one, moving up slowly and testing new psychological barriers. It will be exciting though to see break $11,700 and see it if can be sustainable. If it did hold and sustained at the levels then $15K will be next.

It appears that there is definitely a fight between the bulls/bears at this price level. In general when there is a technical breakout, the bulls usually jump on the train and push it higher. Still waiting for that to happen... 11.7k will be a test for sure.

lablab03

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Quote from: arpon11 on March 02, 2018, 01:48:46 AM

This your prediction has come to pass and we have taking advantage of it to make some money. Bitcoin has make significant progress since the beginning of this week till now and this morning I can see that it above $11,000. I think bitcoin is going to have another great progress that will push bitcoin above $20,000 that might trigger another bullish trend that will make December high a child play.

As of now the price is decreasing and i think after this scenario it will continue to push and it will surge more than our thoughts and in my prediction 25k is enough to reach before the end of March. 'cause it's always happened which is after the fluctuation it will continue to climb then after the all time high value it will fall. So i have doubts it will soar again Lets wait for it.

arpon11

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Quote from: Crytptohack on February 14, 2018, 08:18:10 AM

BTC broke above the 9017 resistance point which was a low produced on January 17th, 2018 from the GDAX exchange.

The next resistance level is 9499 which was a high point on Feb 3rd before the last drop.

Why is this important? Because BTC will be producing higher highs and higher lows which is the definition of an uptrend. This suggests that the previous low MAY have been the bottom price for 2018.

I say _may_ because BTC is still in the downwards trend channel. Once it breaks out an over the upper trend line, I speculate that it's off for a bullish (and volatile) run for 2018.

This your prediction has come to pass and we have taking advantage of it to make some money. Bitcoin has make significant progress since the beginning of this week till now and this morning I can see that it above $11,000. I think bitcoin is going to have another great progress that will push bitcoin above $20,000 that might trigger another bullish trend that will make December high a child play.

Kemarit

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Quote from: Crytptohack on March 01, 2018, 11:41:17 PM

Here is an update on for this thread. The daily chart from the GDAX exchange with a Heikin Ashi overlay on the candlesticks.
You can see that the uptrend off of the last bottom found resistance at the upper descending trend line
After a 5 day decline, BTC found support at the 9499 level
It has pierced the upper trend line and if it continues to gain momentum, I'll speculate that the bottom was set on Feb 6th, 2018.
It just needs to break above 11,695 level to produce higher highs and higher lows, the definition of an uptrend.

That $11700 barrier was really a tough nut to break it. We have been tested that price already like twice in the last two weeks, but we can't really get over it resulting to the price going downtrend last week. But its good to see that you chart was a good guide to see where the price would go. Currently we are just a shade above $11,000 so its another wait and see scenario. Bulls vs Bears will fight it out and let's see it we could at least get near the $11,700 levels and see it we can break it this time, otherwise it will be just a repeat of the previous week's, back to square one, moving up slowly and testing new psychological barriers. It will be exciting though to see break $11,700 and see it if can be sustainable. If it did hold and sustained at the levels then $15K will be next.

Crytptohack

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Activity: 126

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HodL!

Here is an update on for this thread. The daily chart from the GDAX exchange with a Heikin Ashi overlay on the candlesticks.
You can see that the uptrend off of the last bottom found resistance at the upper descending trend line
After a 5 day decline, BTC found support at the 9499 level
It has pierced the upper trend line and if it continues to gain momentum, I'll speculate that the bottom was set on Feb 6th, 2018.
It just needs to break above 11,695 level to produce higher highs and higher lows, the definition of an uptrend.

ihaveaquestion

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Lol, and there are still people saying that bitcoin is over, bla bla bla and that it is a ponzi scheme by the same size than Bitconnect..

came on people, open your eyes.. this was just a pump and dump and it is common in here.

Crytptohack

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HodL!

Quote from: ?? on ??

Quote from: Crytptohack on February 18, 2018, 11:33:43 AM

Thanks for the feedback and your opinions as well guys. Here is another bit of information that suggests that the low point for 2018 MAY have been on Feb 6th.

This is a daily chart from the Bitstamp exchange. (Technicals are a little bit different depending upon which exchange your looking at)

There is a fibonacci retracement set from the low from July 2017 to the Peak in December 17. BTC declined and spiked low to the 23.6 'fib' level as seen with the blue line which was a -76.4% decrease in price between those price levels.
The low at 23.6% was also very close to the Nov 17 low (double bottom)
It is also at the 50% retracement level which a resistance point. (A psychological and technical one)
~

There have been some deep crashes/pullbacks and 70% to 80% may be normal for BTC and the crypto market. Here is the crash in 2013 for example, a -81% drop in price.
~

The last pullback of 76% is probably about average as far as the major percentage declines which also suggests that the bottom for 2018 was set. (We shall see)

Lastly, you may be able to tell that I am not new to technical analysis... I've been watching the charts of Gold/Silver since ~2006 or so...

Thanks for the info, so does this mean that you expect BTC to be higher than feb 6th for the rest of the year?

I really hope that is the case!

Yes, because of the volume at the last low, the high volume buys after the low, the fib retracement to 23.6 and that the percentage drop from the peak was between 70% and 80% which most of the major BTC declines have been.

Also as mentioned, the lows for 2014, 15 & 16 were all in the month of December, in 2018 it may have been in February. The trend is that the low price for BTC is in the first few months of the year.

Crytptohack

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HodL!

Thanks for the feedback and your opinions as well guys. Here is another bit of information that suggests that the low point for 2018 MAY have been on Feb 6th.

This is a daily chart from the Bitstamp exchange. (Technicals are a little bit different depending upon which exchange your looking at)

There is a fibonacci retracement set from the low from July 2017 to the Peak in December 17. BTC declined and spiked low to the 23.6 'fib' level as seen with the blue line which was a -76.4% decrease in price between those price levels.
The low at 23.6% was also very close to the Nov 17 low (double bottom)
It is also at the 50% retracement level which a resistance point. (A psychological and technical one)

There have been some deep crashes/pullbacks and 70% to 80% may be normal for BTC and the crypto market. Here is the crash in 2013 for example, a -81% drop in price.

The last pullback of 76% is probably about average as far as the major percentage declines which also suggests that the bottom for 2018 was set. (We shall see)

Lastly, you may be able to tell that I am not new to technical analysis... I've been watching the charts of Gold/Silver since ~2006 or so...

alyssa85

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Quote from: Crytptohack on February 17, 2018, 09:54:34 PM

Looking at the chart since the peak in Dec 17, there is high volume around the last dip low, suggesting that it was the bottom for the downtrend.

There are also some large green bars over the last few days which shows some of 'whales' purchases. The blue line on the volume is a 20 day moving average and it is at the highest point since the peak. It appears that Feb 6th may have been the low for 2018. (As mentioned before)

That's some fine analysis - looks like Bitcoin tried and failed to break out of the downward channel last night. I expect it will make another attempt today.

nightfury

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Quote from: Tashi on February 14, 2018, 09:40:57 AM

It's nice to see bitcoin creating a breakout. Bitcoin last week was down to 6k usd. But now it is bouncing from 5.8k range. Bitcoin will now go to the moon once 10k's been breached. Good things will come and go to bitcoin.

Bitcoin has even reached 11,000$ plus but it went down again today pulling some cryptos down too. But of course, it's normal that bitcoin's price will go down whenever it rises because others are selling their bitcoin while bitcoin's price is high.

I just hope that bitcoin will breakout to 15,000$ before the end of 1st quarter of this year.

timerland

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Nice analysis...

I do think thta you're right in saying that $11k will be a major resistance and would signal a trend reversal. We haven't seen a lot of activity in both ways today, but rather the price is down -.01% at the moment which is pretty much stable from the last 24 h.

Floor should be $10k, otherwise BTC would have crashed through that yesterday/today.

We're going to be in this little area for a while I suppose. Until the trend goes either way.

Claudyah

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once again I remind the bitcoint price is not fixed, rising or falling prices can not be predicted, we can only see and monitor, if indeed the increase is true yes that's good news for bitcoint users, only the data source is less clear, it could be just a dream only

Crytptohack

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HodL!

Quote from: maku on February 17, 2018, 07:04:45 PM

Here is the story behind recent bitcoin bull run. Apparently, we have someone very rich who bought $344 million worth at an average of $8400 from 9 to 12 February.
Meanwhile, noted cryptocurrency analyst Tom Lee, who has a $25,000 price target for bitcoin by the end of this year, has predicted a bump in its prices starting in July
And this mysterious buyer doubled down on bitcoin by purchasing even more BTC. 41,000 coins this time, just before its price hit $10,000.

More info here: https://www.investopedia.com/news/bitcoin-price-retreats-10k-mysterious-buyer-emerges/

Thanks for the info... I did see a headline regarding a whale that recently executed a fairly large purchase. Looking at the chart since the peak in Dec 17, there is high volume around the last dip low, suggesting that it was the bottom for the downtrend.

There are also some large green bars over the last few days which shows some of 'whales' purchases. The blue line on the volume is a 20 day moving average and it is at the highest point since the peak. It appears that Feb 6th may have been the low for 2018. (As mentioned before)

maku

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Here is the story behind recent bitcoin bull run. Apparently, we have someone very rich who bought $344 million worth at an average of $8400 from 9 to 12 February.
Meanwhile, noted cryptocurrency analyst Tom Lee, who has a $25,000 price target for bitcoin by the end of this year, has predicted a bump in its prices starting in July
And this mysterious buyer doubled down on bitcoin by purchasing even more BTC. 41,000 coins this time, just before its price hit $10,000.

More info here: https://www.investopedia.com/news/bitcoin-price-retreats-10k-mysterious-buyer-emerges/

Crytptohack

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HodL!

Here is a 4hr chart from the GDAX exchange and a brief review (speculation) and update.

BTC is still on a bullish run with the green Heikin Ashi bars in green. If it continues, the upper trend line may provide resistance and then a potential pullback near the 10K support level.

Then off for another attempt to break the upper trend line, after that is a question mark. (Break through or reverse back to the downside?) There has also been some significant volume associated with the current uptrend. (Not shown on the chart)

When it does break the upper trend line, I think it will be 'off to the races' for 2018. (BTC is still technically in a downtrend as it is still within the bearish channel). There will be the typical pullbacks for sure, but the overall trend will be up.

mia khalifa

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Quote from: Crytptohack on February 14, 2018, 08:18:10 AM

BTC broke above the 9017 resistance point which was a low produced on January 17th, 2018 from the GDAX exchange.

The next resistance level is 9499 which was a high point on Feb 3rd before the last drop.

Why is this important? Because BTC will be producing higher highs and higher lows which is the definition of an uptrend. This suggests that the previous low MAY have been the bottom price for 2018.

I say _may_ because BTC is still in the downwards trend channel. Once it breaks out an over the upper trend line, I speculate that it's off for a bullish (and volatile) run for 2018.

yes do not worry bitcoin will go back up starting from the end of this year bitcoin will be at the pump hard to print the highest price at the end of this year. Naturally bitcoin is very expensive because many new players who want to have bitcoin and make the supply thinner and harder to get.

Topic: BTC breakout (Read 700 times)