Topic: BTC next Movement......... (Read 1073 times)

It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$. This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well. One good thing I have seen is that in past few weeks volatility has reduced, and it is not rising and falling too quickly.

or the movement will repeat. after rising to $ 9400, the price drops to $ 9,000 and then goes back up to $ 9400. Well, it's very difficult to guess the current price of bitcoin, however, I believe that the price increase will occur, and most likely it will be in the upcoming July.

I think this might continue until next month.

I've been doubting that it will dump but I am also doubting that it will pump either. It will hit under $9k and then suddenly it will just be $9.2k-$9.3k or $9.4k. It might hit above $10K but I think it will never last since even at this price, there are some that are selling their price that is why it the price is moving under $9k but it just returns back.

I do not see it going under 9k unless something major happens. I do not see bitcoin going down for the sole reason that it has tried multiple times and it has failed multiple times, if it was ready to drop it had plenty of chances to go down but it didn't. There are times when bitcoin forces to go upside but fails and there are times it does the reverse. Right now, we are in the failing to go down parts and that usually ends up with bitcoin going up, eventually.

The logic behind that I "assume" is the fact that when bitcoin fails to go down people realize it is not going down and it would take too much money and effort to bring it down so they realize it is easier to take it higher and they start focusing on that. Same actually applies when they fail to take it higher and just decide to bring it low as well.

sedov1966

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Bitcoin price movements are now the same as the analysis, but it might be strong at Support $ 9000, I really hope that Altcoin can be bullish again, if it returns to the level of $ 8700 it seems to be dangerous, good analysis

Considering the last few days price charts and its movements the prices are on dips only and not seen rising much so I am slight on the opinion that unless there is a big movement of buy demand the market may be on dip side on coming time. Hope we do not see too much of the dip .s

To me it seems like bitcoin is just stagnating on the relatively same level $9,0-9,9k, but slowly and surely diving down.
If there won't be any bullish news/sources/occasions it will drop sooner or later

Reatim

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Quote from: Ridwan Fauzi on June 26, 2020, 09:39:01 AM

BTC / USD Technical Analysis

In the Recent BTC Chart shown it will try To pullback from the zone or demand zone . Although the trend is Bearish. So in my opinion the demand zones will continue to break down And a little rising movement can be seen in the zone And can dump up to a maximum of 8700 Then a good pump can be expected from there.

Let's see how this goes......

So Far $8,700 did not enter the scene though it is almost couple of times that Bitcoin warned to fall under $9,000 yet it survived.

But according to the graph there is a strong hold in 9k so there will always a chance that Pulling Up is what we can expect than falling.

Please Update us all in regards to this topic since we are entering 3rd quarter days soon so it would be better if we will see some chart that dictates the price.

Kelvinid

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Quote from: OrangeII on June 27, 2020, 12:11:59 AM

snipped~

...

So, I guess the scenario for bitcoin price movement will same with the OP prediction. We could fall to 6k again if we use some technical analyst, but there is good information that I read today. The news/prediction tell, although bitcoin price fall to 6k bitcoin will remain bullish, it is just a retracement that can make its price back to 10k again, you can see here https://cointelegraph.com/news/bitcoin-dropping-to-6k-golden-pocket-isnt-bearish-says-trader

That is why I don't rely upon and trust those TA's coz it eventually dragging our mind to think and feel bad towards the market.

people could simply think their own and have their own opinion as well, thus, having this simple prediction will likely to lead people to sell their Bitcoin as FOMOing will start. But as I believe that the market will positively be behaving well in the coming days, I'd rather have to hold and ignore those FUDs.
Just what I said, though it dumps but I'm not thinking the worst-case scenario.

ethereumhunter

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Quote from: OrangeII on June 27, 2020, 12:11:59 AM

It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$. This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well. One good thing I have seen is that in past few weeks volatility has reduced, and it is not rising and falling too quickly.

or the movement will repeat. after rising to $ 9400, the price drops to $ 9,000 and then goes back up to $ 9400. Well, it's very difficult to guess the current price of bitcoin, however, I believe that the price increase will occur, and most likely it will be in the upcoming July.

We hope that the price increase will happen in July, but unfortunately, we still don't know the truth about that. We need to keep trying to make any profit from now on, and we should try to have more and more bitcoin, so when the time for the bitcoin price increase comes, we can sell it at the highest price. If that can happen, we can make a lot of money from selling the bitcoin, and we might recover our losses before.

Janation

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It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$. This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well. One good thing I have seen is that in past few weeks volatility has reduced, and it is not rising and falling too quickly.

or the movement will repeat. after rising to $ 9400, the price drops to $ 9,000 and then goes back up to $ 9400. Well, it's very difficult to guess the current price of bitcoin, however, I believe that the price increase will occur, and most likely it will be in the upcoming July.

I think this might continue until next month.

I've been doubting that it will dump but I am also doubting that it will pump either. It will hit under $9k and then suddenly it will just be $9.2k-$9.3k or $9.4k. It might hit above $10K but I think it will never last since even at this price, there are some that are selling their price that is why it the price is moving under $9k but it just returns back.

OrangeII

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It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$. This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well. One good thing I have seen is that in past few weeks volatility has reduced, and it is not rising and falling too quickly.

or the movement will repeat. after rising to $ 9400, the price drops to $ 9,000 and then goes back up to $ 9400. Well, it's very difficult to guess the current price of bitcoin, however, I believe that the price increase will occur, and most likely it will be in the upcoming July.

smyslov

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Quote from: bitgolden on June 26, 2020, 01:13:21 PM

I believe the price will dump but I'm not thinking it drop more below $9k. The price shows stabilization in almost a month or two. Yes, we have that surge surpassing $10k at a very short time and it goes back to $9k-$9.8k range and probably the market will remain to that range for the next couple of weeks.
I'm still positive to see Bitcoin will break that $10k wall sooner and lead to a bullish market. Patience would still remain as the adoption and number of users keep moving high.

I also thought that Bitcoin will drop in the $8 k level last week because there are indication that it might happen, I'm glad that it is stable in the $92 k level we have been waiting for the price to push in the $10 k level it's been quite some time since it reaches in that level we are over a month after the halving I have high hope July is the month where it will land in the $10 k level.

KTChampions

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It is such a weird period for bitcoin. I have been involved with bitcoin for years and I have to say I do not remember the last time when it was this weird and it was this stable. Look at the price, it goes to $9.6k at the very highest which it hasn't in a while and drops to $9.1k at the lowest and moves between that very slowly. I do not see bitcoin doing anything exceptional, it looks like bitcoin will be simply just looking to stay stagnant until something happens in real life.

I am still saying that the price will peak to $12k levels (just under $12k like $11.8k) once again before it goes down to $7k levels slowly, but that looks like going to take a bit more time and the longer we wait the more affects of halving we will start to say so I might be wrong in the end when it goes up it could continue to go up.

This is an obvious idea (highlighted in bold) - in order for the price to rise, bitcoin must develop. In recent years, bitcoin has been actively developing as a tool for speculation, but otherwise it retains the status of a technically obsolete cryptocurrency. For the next breakthrough, technical changes are necessary in bitcoin itself, as we see the network over bitcoin (Lightning) did not live up to expectations.

dunfida

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Quote from: bitgolden on June 26, 2020, 01:13:21 PM

It is such a weird period for bitcoin. I have been involved with bitcoin for years and I have to say I do not remember the last time when it was this weird and it was this stable. Look at the price, it goes to $9.6k at the very highest which it hasn't in a while and drops to $9.1k at the lowest and moves between that very slowly. I do not see bitcoin doing anything exceptional, it looks like bitcoin will be simply just looking to stay stagnant until something happens in real life.

I am still saying that the price will peak to $12k levels (just under $12k like $11.8k) once again before it goes down to $7k levels slowly, but that looks like going to take a bit more time and the longer we wait the more affects of halving we will start to say so I might be wrong in the end when it goes up it could continue to go up.

Nah, this isnt something new to bitcoin and we have seen this kind of situation for how many times on where it do move sideways with less
volatility in a specific period of time but it doesnt mean that it would really just stay there forever.This is the hardest part on making any
decision because you wouldnt even know on where it was heading.If you do base up on TA's then you would really have two possibilities
and waiting up for some time would really trigger out that emotional aspect and will surely test out your patience.

bitgolden

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It is such a weird period for bitcoin. I have been involved with bitcoin for years and I have to say I do not remember the last time when it was this weird and it was this stable. Look at the price, it goes to $9.6k at the very highest which it hasn't in a while and drops to $9.1k at the lowest and moves between that very slowly. I do not see bitcoin doing anything exceptional, it looks like bitcoin will be simply just looking to stay stagnant until something happens in real life.

I am still saying that the price will peak to $12k levels (just under $12k like $11.8k) once again before it goes down to $7k levels slowly, but that looks like going to take a bit more time and the longer we wait the more affects of halving we will start to say so I might be wrong in the end when it goes up it could continue to go up.

Taskford

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Quote from: Febo on June 26, 2020, 09:42:50 AM

Hopefully by late 2020 we will see another drastic increase. Last time this happened the increase was around December remember? Because most of the time people spend a lot of money during summer and this summer it will probably be even more because nobody went outside for a long time and even though the virus is still out there it was already very difficult to keep people inside for 3 months (both economically and emotionally) and that means everyone will be able to go outside after 3 months and I am sure they will spend a significant amount of money.

Yes after last halving we had price dropped 30% and then at end of the year reached old ATH of $1200. We cant be sure 2016 December will repeat. Year 2016 was way different from 2020. Worlds economy was in huge expansion right now we are at the brink of huge recession. I would be very careful at any predictions. 2021 year will be way better for that when we will at least know how covid-19 situation will roll.

We cannot really compare the past halving with this current one since globally we are been hit by a big crisis and we don't know yet on when this unfortunate incident will end up since there's no clear answer on when the expert can create a real effective vaccine to stop this virus. For sure many of us keep an eye on the latest updates regarding on whats happening in the world and the least we can help is to obey the government order to us so that they can easily control the spread and maybe by that we can help to make the economy recovers and for sure by this the bitcoin will get a benefit also from economic reviving.

Febo

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Hopefully by late 2020 we will see another drastic increase. Last time this happened the increase was around December remember? Because most of the time people spend a lot of money during summer and this summer it will probably be even more because nobody went outside for a long time and even though the virus is still out there it was already very difficult to keep people inside for 3 months (both economically and emotionally) and that means everyone will be able to go outside after 3 months and I am sure they will spend a significant amount of money.

Yes after last halving we had price dropped 30% and then at end of the year reached old ATH of $1200. We cant be sure 2016 December will repeat. Year 2016 was way different from 2020. Worlds economy was in huge expansion right now we are at the brink of huge recession. I would be very careful at any predictions. 2021 year will be way better for that when we will at least know how covid-19 situation will roll.

Ridwan Fauzi

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Quote from: Natalim on June 26, 2020, 05:47:42 AM

I believe the price will dump but I'm not thinking it drop more below $9k. The price shows stabilization in almost a month or two. Yes, we have that surge surpassing $10k at a very short time and it goes back to $9k-$9.8k range and probably the market will remain to that range for the next couple of weeks.
I'm still positive to see Bitcoin will break that $10k wall sooner and lead to a bullish market. Patience would still remain as the adoption and number of users keep moving high.

But you have to think since coronavirus came bitcoin price (or crypto currency price as a whole) and stock market have the similarity. Take a look in March this year, the stock market fell due to sell of that has done by the most investor and it happened to bitcoin as well. And currently, we got the similarity information like in March and it will make the stock market fall and we can see it now.

So, I guess the scenario for bitcoin price movement will same with the OP prediction. We could fall to 6k again if we use some technical analyst, but there is good information that I read today. The news/prediction tell, although bitcoin price fall to 6k bitcoin will remain bullish, it is just a retracement that can make its price back to 10k again, you can see here https://cointelegraph.com/news/bitcoin-dropping-to-6k-golden-pocket-isnt-bearish-says-trader

ethereumhunter

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Don't worry it won't be stable anytime soon, volatility will remain as majority of the volume is coming from the short term traders, so they dictate the market, the only way the market will be stable is if there will be a massive adoption which I believe will take time to achieve.

No problem if the price still volatile because that can give us the opportunity to buy low and sell high, so we can back to make a profit which is difficult to do in the last year. We will see that happens many times this year, so we need to analyze more to find the time to trade, and if it is necessary, we can use the stop loss if we guess that the price will go down for more.

But the massive adoption will not make the market stable because we will see many people start to buy, and I guess that they will be willing to buy bitcoin at any price, which can make the price increase and decrease anytime.

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Quote from: rodskee on June 26, 2020, 04:20:38 AM

Quote from: rodskee on June 26, 2020, 04:20:38 AM

It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$.

Possibly happening as there's investors who are satisfied with the profits and now cashing out their earnings.

Thats correct and expect the market to go back to uptrend when it Sunday evening but the whales are the major players that determine the trend of the market and this is the season when experienced traders make slightly profit.

Quote from: arwin100 on June 26, 2020, 05:40:45 AM

This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well.

If you are looking for longer term holding then the timing will be very suitable purchasing more assets.

This is current market it good for long term investors but the traders/investors that will make the highest profit are the short term. @reliable, the price downtrend below $9K will even make the profit worth it.

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BTC to the MOON in 2019

Quote from: shoreno on June 26, 2020, 04:05:42 AM

Quote from: shoreno on June 26, 2020, 04:05:42 AM

It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$. This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well. One good thing I have seen is that in past few weeks volatility has reduced, and it is not rising and falling too quickly.

reduced volatility is a nice thing to me but dont know to others because i feel some likes btc to be verry volatile especially if they are unpatient and will like to do short term trade instead .

it could be that reduced volatility is a kind of sign that there is something good will happen to btc ? maybe btc wont fall beyond this point and this will now be used as a starting point from whatever btc wants to achieve . the only bad thing about less volatility is that it can take a while for the price to increase .

Not good for traders if you reduced the volatility since how could the traders earn if we will get a single movement? Waiting for long is so boring and many people loss from that matter. Compare to have good volatility where people can regain quickly what they lose if they react correctly on the trend at that day. There are pros and cons about everything but let see what future brings.

Don't worry it won't be stable anytime soon, volatility will remain as majority of the volume is coming from the short term traders, so they dictate the market, the only way the market will be stable is if there will be a massive adoption which I believe will take time to achieve.

arwin100

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It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$. This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well. One good thing I have seen is that in past few weeks volatility has reduced, and it is not rising and falling too quickly.

reduced volatility is a nice thing to me but dont know to others because i feel some likes btc to be verry volatile especially if they are unpatient and will like to do short term trade instead .

it could be that reduced volatility is a kind of sign that there is something good will happen to btc ? maybe btc wont fall beyond this point and this will now be used as a starting point from whatever btc wants to achieve . the only bad thing about less volatility is that it can take a while for the price to increase .

Not good for traders if you reduced the volatility since how could the traders earn if we will get a single movement? Waiting for long is so boring and many people loss from that matter. Compare to have good volatility where people can regain quickly what they lose if they react correctly on the trend at that day. There are pros and cons about everything but let see what future brings.

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It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$.

Possibly happening as there's investors who are satisfied with the profits and now cashing out their earnings.

This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well.

If you are looking for longer term holding then the timing will be very suitable purchasing more assets.

One good thing I have seen is that in past few weeks volatility has reduced, and it is not rising and falling too quickly.

A good sign that there are supporters who still working to keep the barrier, not allowing the huge dumped
to happened.

Traders have different perceptions regarding to how they will anticipate the next market trends, both short term and
long term holders have their own entry and exit points.

shoreno

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It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$. This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well. One good thing I have seen is that in past few weeks volatility has reduced, and it is not rising and falling too quickly.

reduced volatility is a nice thing to me but dont know to others because i feel some likes btc to be verry volatile especially if they are unpatient and will like to do short term trade instead .

it could be that reduced volatility is a kind of sign that there is something good will happen to btc ? maybe btc wont fall beyond this point and this will now be used as a starting point from whatever btc wants to achieve . the only bad thing about less volatility is that it can take a while for the price to increase .

reliable

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It seems to be profit booking happening around as price in last week has slowly dropped like 9400$ to now 9100$. This is not looking good because it can now even fall below 9k levels too. Though on fall it will be a good time to buy as well. One good thing I have seen is that in past few weeks volatility has reduced, and it is not rising and falling too quickly.

Jating

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Quote from: Cherylstar86 on June 23, 2020, 06:43:31 PM

I believe the price will dump but I'm not thinking it drop more below $9k. The price shows stabilization in almost a month or two. Yes, we have that surge surpassing $10k at a very short time and it goes back to $9k-$9.8k range and probably the market will remain to that range for the next couple of weeks.
I'm still positive to see Bitcoin will break that $10k wall sooner and lead to a bullish market. Patience would still remain as the adoption and number of users keep moving high.

Occasional dumps though are good, and we need to see this kind of movement, healthy correction (dump) and then buy the dip (pump). At least traders all over the world as very active and we won't see those manipulations and try to push the price to fit their agenda behind.

So we will see some sideways patterns, but I don't see it going down below $9k for now. As traders or bulls and bears are constantly fighting each other to keep the price somewhat stable, which is a good sign. Although volume as of late are really down, but perhaps investors are just simply shifting their capital around.

Kelvinid

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win lambo...

I believe the price will dump but I'm not thinking it drop more below $9k. The price shows stabilization in almost a month or two. Yes, we have that surge surpassing $10k at a very short time and it goes back to $9k-$9.8k range and probably the market will remain to that range for the next couple of weeks.
I'm still positive to see Bitcoin will break that $10k wall sooner and lead to a bullish market. Patience would still remain as the adoption and number of users keep moving high.

jostorres

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That's the thing about the current situation, its volatile but also we were volatile in regular life as well. Normally we have a stable regular life, where we wake up, go to work, come home and do that over and over again for 30 years without disruption, however we had one of the weirdest years ever, every year we say this year is bad and I think we have peaked, there needs to be some sort of world war three in order to be worse than this and I doubt that would happen in 2021 (well not even sure about it anymore).

So, this year we were volatile as well just like bitcoin and I am sure that reflected on bitcoin as well but that was volatile all the time anyway. When both the investors life and investment gets volatile, you have no idea what they could do, maybe they will take advantage of the prices, maybe they need to cash out, who knows whats going on?

arwin100

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Hopefully by late 2020 we will see another drastic increase. Last time this happened the increase was around December remember? Because most of the time people spend a lot of money during summer and this summer it will probably be even more because nobody went outside for a long time and even though the virus is still out there it was already very difficult to keep people inside for 3 months (both economically and emotionally) and that means everyone will be able to go outside after 3 months and I am sure they will spend a significant amount of money.

It means they will not be able to save and put money aside and buy bitcoin. However, when it is November/December they will be back and they will start saving up and buying again which will definitely increase the price.

I see the reality of your statement my friend, and that's the most usual mindset of every investors right now. That's really difficult to move on forward, since the market still remain unstable and kept fluctuating nearly down. Many people had lost their funds due to pandemic reasons, so it's temporarily having a huge impact to emotional and financial aspects of life.

They lose their money just because majority lose their jobs and I don't think they lose it with bitcoins since so far the price is quietly stabilized at $9,000 and people who trade short are lucky person since imagine how many fluctuating opportunity has passed and for sure many people are earning good with that if they ride with it correctly.

Cherylstar86

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Hopefully by late 2020 we will see another drastic increase. Last time this happened the increase was around December remember? Because most of the time people spend a lot of money during summer and this summer it will probably be even more because nobody went outside for a long time and even though the virus is still out there it was already very difficult to keep people inside for 3 months (both economically and emotionally) and that means everyone will be able to go outside after 3 months and I am sure they will spend a significant amount of money.

It means they will not be able to save and put money aside and buy bitcoin. However, when it is November/December they will be back and they will start saving up and buying again which will definitely increase the price.

I see the reality of your statement my friend, and that's the most usual mindset of every investors right now. That's really difficult to move on forward, since the market still remain unstable and kept fluctuating nearly down. Many people had lost their funds due to pandemic reasons, so it's temporarily having a huge impact to emotional and financial aspects of life.

bearexin

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Hopefully by late 2020 we will see another drastic increase. Last time this happened the increase was around December remember? Because most of the time people spend a lot of money during summer and this summer it will probably be even more because nobody went outside for a long time and even though the virus is still out there it was already very difficult to keep people inside for 3 months (both economically and emotionally) and that means everyone will be able to go outside after 3 months and I am sure they will spend a significant amount of money.

It means they will not be able to save and put money aside and buy bitcoin. However, when it is November/December they will be back and they will start saving up and buying again which will definitely increase the price.

LUCKMCFLY

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Quote from: pooya87 on June 17, 2020, 11:28:15 PM

BTC / USD Technical Analysis

In the Recent BTC Chart shown it will try To pullback from the zone or demand zone . Although the trend is Bearish. So in my opinion the demand zones will continue to break down And a little rising movement can be seen in the zone And can dump up to a maximum of 8700 Then a good pump can be expected from there.

Let's see how this goes......

In various analyzes that I have seen on many platforms and some articles, they currently talk about the lateralization of the price, it can go up or down, some see that the price is most likely to rise, due to the halving effect, and due to the weakness that money fiat worldwide is being presented. Although what the masses think about the market is often the opposite, the market is like that.

Kemarit

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Quote from: jossiel on June 09, 2020, 08:01:17 AM

Quote from: NeuroticFish on June 08, 2020, 05:01:09 AM

Quote from: jossiel on June 09, 2020, 08:01:17 AM

the trend is Bearish

Actually right now the trend is neither bullish nor bearish. So you have 50% chance to be correct with the general short-term trend in your chart (basically because anything can happen).

I'm also thinking of this right now. I thought the sentiment of the market is with bullish since it's broken $10,000 and when it started to correct, then our thoughts was into bearish.

So, this is correct.

It's just par bullish and bearish.

the problem is that most people like OP seem to define being "bullish" in bitcoin as price going up constantly and every day in at least 20% sizes and if anything other than that happens they call that "bearish". the reality is that the market trends are not just these 2! believe it or not there are a lot more in between the two.
i disagree with the sentiment being bullish though, the sentiment in my opinion is greatly undecided. that is why most investors are currently waiting for a signal (a breakout) to start buying. which is also why we see big jumps with a lot of FOMO right after these sideways trends end every single time.

And in the case of the market situation right now, we are somewhat in the middle, neutral grounds. No one wants to make a move, everyone is undecided, just waiting for the perfect opportunity to either sell or buy.

So what we should wait is another break out run here. If the price goes up, then there will be FOMO, calling the top at $10,500-$11,00, bullish sentiments, LOL.

pooya87

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Quote from: NeuroticFish on June 08, 2020, 05:01:09 AM

Quote from: GreatArkansas on June 17, 2020, 09:50:34 PM

the trend is Bearish

Actually right now the trend is neither bullish nor bearish. So you have 50% chance to be correct with the general short-term trend in your chart (basically because anything can happen).

I'm also thinking of this right now. I thought the sentiment of the market is with bullish since it's broken $10,000 and when it started to correct, then our thoughts was into bearish.

So, this is correct.

It's just par bullish and bearish.

the problem is that most people like OP seem to define being "bullish" in bitcoin as price going up constantly and every day in at least 20% sizes and if anything other than that happens they call that "bearish". the reality is that the market trends are not just these 2! believe it or not there are a lot more in between the two.
i disagree with the sentiment being bullish though, the sentiment in my opinion is greatly undecided. that is why most investors are currently waiting for a signal (a breakout) to start buying. which is also why we see big jumps with a lot of FOMO right after these sideways trends end every single time.

rhomelmabini

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No God or Kings, only BITCOIN.

What I am observing now on Bitcoin is its momentum.

By the first week of July if we rely on the RSI. How about the weekly chart of it? Long run I think we are going downward that's what I speculate that will happen for Bitcoin, I'm not that bullish within this year.

GreatArkansas

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Nice chart OP!
What I am observing now on Bitcoin is its momentum.
If you will check the RSI of it, we are still not oversold and not overbought, we are still neutral.
For me, we still have more room for upside price actions, especially we got a divergence on RSI, good news for Bitcoin.

STT

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The way these lines squeeze together and on the low we try to breach 50 day average but return right back up here. This could breed complacency in the ranks I think, yes its staying up but why sideways and why resist building on this bounce each time. I think its losing energy but once again I have to watch and learn before I can really see which conclusion is correct because sideways means anything is possible.
I do speculate the next movement is downwards but I just imagine many take profits after gaining previously not that it lasts down exactly.

A proper build would keep above the surface of these averages, we are below and price action has something prove still. Its battle between short term where we are a bit worn out and 50 day which includes momentum of the spring recovery.

Farma

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after a decline of almost $ 8k, the price of bitcoin returned to $ 9500. it's good enough for those who realize and utilize the moment. so far, I can only assume that the price of bitcoin is very stable at $ 9000. if there is a decrease in price, maybe the price will approach the price of $ 8k as it just happened, and if there is an increase in price, the price can approach the price of $ 10k, but I think it's not the time for the price of bitcoin to reach that level.

FanEagle

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People are too afraid after the prices fell down today and I totally understand the logic, I would be scared too if I didn't see this too many times in a row. However I have been here long enough to know that when bitcoin wants to drop it drops, you can't stop it, you can't slow it down, whenever it wants to drop it drops. The thing about bitcoin not going down or up is the fact that usually that means it is pondering, the investors and traders are all just checking what would be the best way to go.

There is really not that much money to be made from either direction right now, whenever there is too much futures in one side they go other side because that way you can definitely get the money of everyone else on the other side, but right now it is all staying around the same looking at each other.

LogitechMouse

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That TA that posted by the OP can be possible too.

The only indicator for me that will tell if the trend reverses from bullish into bearish already is the 200 Daily MA which is now sitting at around ~$8200 and this is a huge support for me. The resistance of Bitcoin right now is its previous high which is near the $10,200 price.

fabiorem

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Quote from: carlfebz2 on June 13, 2020, 04:23:56 PM

Quote from: fabiorem on June 13, 2020, 02:27:11 PM

The trend is bearish, because now we have something called Bitmex, determining how the market moves.

No platform or analysis out there that can give out precise predictions towards bitcoin movement.It all matters with demand and some mix of fomo and fud, this is why its always been an unpredictable stuff.

We have seen the waves for this week, it might not really big in numbers of changes but we are tanking or hovering around between 9k and 10k price. Next move?

Neither of the two because price might able to break resistance and supports on next hour,day or into the next.

I've never seem derivatives causing a bullish movement.
If I see Bitmex pumping the price some day, I will not have any problem in saying I was wrong.
But until then, the sole purpose of derivatives and "legitimation" is to destroy the project.

KTChampions

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I am not based on TA, but on fundamental analysis, but in this case I agree with the author of the starting post. It seems to me that the economy has begun to experience the influence of long-term crisis factors and this will directly affect the price of bitcoin. The stock market experienced a correction, even with the unlimited support of governments. In the case of bitcoin, a tougher scenario is very likely.

carlfebz2

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Quote from: fabiorem on June 13, 2020, 02:27:11 PM

The trend is bearish, because now we have something called Bitmex, determining how the market moves.

No platform or analysis out there that can give out precise predictions towards bitcoin movement.It all matters with demand and some mix of fomo and fud, this is why its always been an unpredictable stuff.

We have seen the waves for this week, it might not really big in numbers of changes but we are tanking or hovering around between 9k and 10k price. Next move?

Neither of the two because price might able to break resistance and supports on next hour,day or into the next.

fabiorem

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The trend is bearish, because now we have something called Bitmex, determining how the market moves.

Oasisman

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Quote from: el kaka22 on June 12, 2020, 04:50:09 AM

In between, I am not seeing $9000 to be broken but I had lots of experiences where all my analysis got proven wrong even I tried to speculate as per psychologies of traders and investors. After testing above $10k for 2 times, $9000 should remain a stronger support region, let's watch how market reacts on these pandemic times.

When speculating we must find first any relevant events that could potentially influence the price of Bitcoin, before speculating on the market sentiments. Charts might become useless if we purely base our speculations on the price movements. However, If there are a lot of people who are following a certain TA, then that would as well influence the price.

The pandemic will be staying for a while until there's no vaccine and this will be one of a few major reason for Bitcoin to hold onto a certain region, or worse fall again.

STT

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Its not a confirmed bear trend, we've only just entered the boundaries of suggesting a bullish trend may have altered or no longer be the case. If the market were to reverse the recent move by Sunday it would be erased pretty much and continue on as if it didnt happen.
I dont think that happens but its very possible we confirm the break, so I do expect price to rise from beginning of today and maybe further. Next week we might see proper negative action, ideally I could enter this short on late Sunday but not sure I would time it right tbh.

el kaka22

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We may see $8700 region once again as per your analysis? I am little disappointed because I do not have any savings left to add some more bitcoins at those dips Sad

. I guess people like me are who are not opting to sell to catch short term pull backs may got nothing to do with these kind of analysis unless otherwise there would be a surprise bonus from regular job.

In between, I am not seeing $9000 to be broken but I had lots of experiences where all my analysis got proven wrong even I tried to speculate as per psychologies of traders and investors. After testing above $10k for 2 times, $9000 should remain a stronger support region, let's watch how market reacts on these pandemic times.

Paycoinzzz

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Yesterday the price of BTC re-tested the $ 10k zone and it continued to be a strong resistance area. Now it continues to trade at $ 9k8 and is still sideway there. In the near future, I still think that the price of bitcoin will plummet once again to about $ 7k8 and then grow again. The weekly candle is showing that and we just need to wait for a good time to make Big short and win big.

mithun303

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Bitcoin price has been consolidating for the last week. One week ago the next move reck of the cryptocurrency denomination, After bitcoin movement is anthropophagous, Because next day i mean june 30 bitcoin price $10000 up i think. Now i look forward a useful price activity some time within the next day.

Lasky366

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Quote from: adaseb on June 09, 2020, 10:29:08 PM

I am giving you a merit because unlike most of the threads in the speculation sections yours actually includes a chart and you sort of know what you are talking about. I agree with most of the demand areas you drew, however keep in mind this is crypto and usually what happens if the first demand area doesn't hold then either will the other 2.

Most like it will drop further or it will form a demand area somewhere else either front-running one of the others. These supply and demand areas seem to work best in forex or stocks but in crypto there are many traps in areas such as those. There is still a chance we might retest $10000 one more time and if it doesn't break this time then most likely we will head to the $8K area again.

adaseb

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I am giving you a merit because unlike most of the threads in the speculation sections yours actually includes a chart and you sort of know what you are talking about. I agree with most of the demand areas you drew, however keep in mind this is crypto and usually what happens if the first demand area doesn't hold then either will the other 2.

Most like it will drop further or it will form a demand area somewhere else either front-running one of the others. These supply and demand areas seem to work best in forex or stocks but in crypto there are many traps in areas such as those. There is still a chance we might retest $10000 one more time and if it doesn't break this time then most likely we will head to the $8K area again.

jackg

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Quote from: Harlot on June 09, 2020, 04:18:22 PM

The price of Bitcoin right now just made your price forecast for Bitcoin invalid. You were basically showing that there was a resistance level just above the 9,600$ level where Bitcoin "failed" when it re-tested it well now Bitcoin's price is currently 9,759$ in Preev which just shows that we aren't in any kind of downtrend as of the moment but in fact we are still consolidating in the mid to high 9,000$ level.

I think you should probably analyse it as him saying this COULD happen SOMETIME in the future, most TA aren't saying it's going to happen straight away. The CME futures gap people kept going on about took 6 months to fill a while ago for example, it doesn't exactly mean suggesting that was invalid it means that it wasn't at that particular time.

Quote from: Harlot on June 09, 2020, 04:18:22 PM

Also if you are trying to point out a head and shoulder pattern I believe that it is getting invalidated by the day since Bitcoin hasn't been below in the 9,000$ for a long time now.

I think if this looks like a head and shoulders (which was pointed out on another thread here), we're still firmly in the head part and await the next shoulder.

Quote from: Harlot on June 09, 2020, 04:18:22 PM

I hope you are just really analyzing the chart here and is not spreading FUD for the members to start panicking.

I assume that's what they're doing, some TA is helpful even if not directly in trying to get others to understand something about doing it themselves if they don't know what they're doing.

There's enough FUD in both directions though (up and down) which may partially be what's causing us to move sideways, no group atm are making a decisive claim of us going up or down atm.

I do like these threads, they're quite helpful at determining peoples' sentiment on the current market also...

Harlot

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The price of Bitcoin right now just made your price forecast for Bitcoin invalid. You were basically showing that there was a resistance level just above the 9,600$ level where Bitcoin "failed" when it re-tested it well now Bitcoin's price is currently 9,759$ in Preev which just shows that we aren't in any kind of downtrend as of the moment but in fact we are still consolidating in the mid to high 9,000$ level. Also if you are trying to point out a head and shoulder pattern I believe that it is getting invalidated by the day since Bitcoin hasn't been below in the 9,000$ for a long time now. I hope you are just really analyzing the chart here and is not spreading FUD for the members to start panicking.

Yaunfitda

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Quote from: SquallLeonhart on June 09, 2020, 01:04:04 PM

Well, the biggest trouble is no matter which direction you look at the charts, no matter how well you know your indicators, no matter how well you can read the future, the price of bitcoin all depends on the people with money, either bitcoin or fiat, they are the ones who decide it. There is no indicator of me deciding to sell, nor for me to buy, which means markets could never predict whenever I will want to buy or sell.

Supply and demand.

Quote from: SquallLeonhart on June 09, 2020, 01:04:04 PM

Obviously that is why bitcoin price is so volatile, it does move up and down with insane spreads since it could never be predicted and people are following whatever bandwagon we have at that moment. Hopefully we will go up, I have a big saved aside and I have been wanting to cash out and buy some stuff for a while but I will wait until at least $12k.

Bitcoin is a good asset, but people tend to forgot how unstable it is. We all do love to see TA in this community, but as the saying goes, there's no guarantee as where the price will go, so for me there are only two likely scenarios: either go up or go down. TA will just validated the facts, let's see if it can get to $12k.

cabron

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I thought it would go up continuously after it hit 10K but it seems a crucial indicator for bulls if it crosses that resistance. It doesn't really look like its a bearish move to me, its more like sideways only. It might just drop a bit in the next few days but will spike after. Once its going to cross that 10K again then the price might stay 10K for weeks.

Quote from: SquallLeonhart on June 09, 2020, 01:04:04 PM

Well, the biggest trouble is no matter which direction you look at the charts, no matter how well you know your indicators, no matter how well you can read the future, the price of bitcoin all depends on the people with money, either bitcoin or fiat, they are the ones who decide it. There is no indicator of me deciding to sell, nor for me to buy, which means markets could never predict whenever I will want to buy or sell.

Obviously that is why bitcoin price is so volatile, it does move up and down with insane spreads since it could never be predicted and people are following whatever bandwagon we have at that moment. Hopefully we will go up, I have a big saved aside and I have been wanting to cash out and buy some stuff for a while but I will wait until at least $12k.

More likely saying its all manipulated. Of course it is.

SquallLeonhart

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Well, the biggest trouble is no matter which direction you look at the charts, no matter how well you know your indicators, no matter how well you can read the future, the price of bitcoin all depends on the people with money, either bitcoin or fiat, they are the ones who decide it. There is no indicator of me deciding to sell, nor for me to buy, which means markets could never predict whenever I will want to buy or sell.

Obviously that is why bitcoin price is so volatile, it does move up and down with insane spreads since it could never be predicted and people are following whatever bandwagon we have at that moment. Hopefully we will go up, I have a big saved aside and I have been wanting to cash out and buy some stuff for a while but I will wait until at least $12k.

gantez

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I think I have a view of the bearish but I don't expect a long deep. Looking at the rate of growth of cryptocurrency , the deep might not last because more support will be rallied and it will show more spiking move up.

tbterryboy

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Bitcoin prices are over staying around $9700 regions for longer duration than any other levels which makes to think about "uncertainty" of what is going to happen next. Usually sustaining prices are clear indication of bull markets but this time it looks like bulls are unable to hold above $10k levels which must be the indication for short term pull back.

Probably bulls need more power which means they may start their rally again from $9000 level afresh. I am not seeing any further fall down will be imminent because psychologically traders already got ready to have bitcoin prices above $10k but due to pandemic triggered slow economy could be a reason for not to be trading above $10k levels right now hence 10% down could be meaning full and anything else more than that will not sustain.

LUCKMCFLY

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Well, I think that to be a bearish you need a more exhaustive analysis of the volume, if we go only to the chart level only, some patterns may fail, in my view of the market I think that it increases to test the offer and if there is a lot of the price falls, But the effect of the fundamental Covid-19 is happening, which leads to investors having more confidence in Bitcoin, and in some ways this is very positive.

YOSHIE

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Quote from: NeuroticFish on June 08, 2020, 05:01:09 AM

Let's see how this goes......

I can say Bitcoin right now, including the crypto category that survived during the pandemic, I think Bitcoin might be the next and future to become a crypto that is still traded by many people, with this condition only a few sectors survive in the global crypto market.

But with this situation it seems that the power of Bitcoin or crypto as a whole, bitcoin will have a positive impact.
For this time in the recovery of the price of Bitcoin has not been stable in recent weeks, $10,000 is still determined by the congestion zone, so this has not been a definite support for the moment against Bitcoin, I'm sure Bitcoin can go beyond current zone numbers.

jossiel

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Quote from: NeuroticFish on June 08, 2020, 05:01:09 AM

the trend is Bearish

Actually right now the trend is neither bullish nor bearish. So you have 50% chance to be correct with the general short-term trend in your chart (basically because anything can happen).

I'm also thinking of this right now. I thought the sentiment of the market is with bullish since it's broken $10,000 and when it started to correct, then our thoughts was into bearish.

So, this is correct.

It's just par bullish and bearish.

Ridwan Fauzi

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Bitcoin's price has been consolidating for one week after the price went up to $10,400 and dropped to $9200 and now its price is being traded at $9700.

And we don't know exactly what will happen next because if we see in the fundamental side bitcoin should be bullish, there are a lot of good information comes.

But I made a rough conclusion, if bitcoin price goes below $9200 I'll expect bitcoin price will dump and if bitcoin price goes up to $10.500 then I'll expect bitcoin price will find another all-time high.

sheenshane

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That is a normal fluctuation of Bitcoin price, the volatility makes Bitcoin price zigzag motion.

That might be true but for sure there will be resistance if that also will happen that is a good point to accumulate some Bitcoin again and hold.
To be honest, I don't to give an opinion if there is prediction about the bearish trend, because I always think that we are always bullish and it should pick season since halving was already done.

What about this prediction? Analyst Predicts Next Bull Run Will Send Bitcoin to $150K and Ether to $9K. Anyway, thank you for showing your nice TA.

Natalim

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Thank you for that TA, well, if Bitcoin will drop, it's just normal as bitcoin has been moving sideways lately.
And if it's for the preparation of a bullish run, I am hoping that will happen,..

All our prediction could be right or wrong only, but for me, I see that the market this year is overall bullish.

Jating

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the trend is Bearish

Actually right now the trend is neither bullish nor bearish. So you have 50% chance to be correct with the general short-term trend in your chart (basically because anything can happen).

Right, we are just trading sideways, so this pattern might go on for weeks or months before another break out could happen.

I do agree though that in order to get the price to somewhat increase, it needed another correction and see how low can we get before expecting another bounce back. We already started this week and so far no break out run (either going up or down) is on the horizon.

NeuroticFish

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