Topic: BTC breakout - page 3. (Read 700 times)
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.
As of now the Price of bitcoin is $9,218.82 USD and as you say that the next resistance level would be at $9499 and I really think we can break through from that resistance And if your speculation was base on the TA chart it can be pretty accurate but unless there were negative news that happens again or a continues people spreading a lot of FUD in the community.
After a long time stability gain now the price has moved forward breaking the $9000 mark. Possibly as the Chinese new year celebrations were getting closer the price will continue to travel towards the growth further. Hope this will take the price cross $10000 at the earliest with more circulation happening.
BTC broke above the 9017 resistance point which was a low produce 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.
I am glad that you have presented a good speculation there but on what grounds do you base your facts on? Is it only because of price movements in the past few months? If that is the case then your speculation have low chance of it happening since bitcoin price cannot predicted merely by looking at charts and past price movements alone. It needs to also be backed by good and bad news(upcoming ones) and other factors for a more accurate guessing.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.
He's using TA, which has been pretty reliable recently. But as you say, there could be unexpected news that disrupts teh charts - anything from a major exchange collapse to a world war could affect the price of bitcoin!
BTC broke above the 9017 resistance point which was a low produce 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.
I am glad that you have presented a good speculation there but on what grounds do you base your facts on? Is it only because of price movements in the past few months? If that is the case then your speculation have low chance of it happening since bitcoin price cannot predicted merely by looking at charts and past price movements alone. It needs to also be backed by good and bad news(upcoming ones) and other factors for a more accurate guessing. 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.
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.
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.
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