Topic: $BTC Weekend Price Prediction (Read 793 times)

However bitfinex stand up and slowly rising from their crises fall. Its seems to be with bitfinex's potential and bitcoin price always quite volatile so sometime It raises and sometime it dumps. We should some bitcoins with us future safety and sell other bitcoins for usages.

for now i reply this, the rate is somewhere in $620, but for last one hour ago, the rate is on $622, i will hope that the rate is going to be $650 or even in $700  but its depend on situations from the market itself.

I also think price may reach $700 really soon within end of this month or in early days of november. The recent pump in price seem decent and strong.

This is true as you will notice that most of the OP's predictions and analysis are more on the obvious and the safe side. He does not give the exact time when the predictions will happen because the markets by nature are very unpredictable. But it is good to read all the analysis posted in this forum. It will sometimes give you a fresh perspective and also new ideas on how others are thinking about the cryptocurrency markets.

ussually every weekend
this volume transaction in trading is drop down and low
and effect this price bitcoin is down, so this weekend price bitcoin i think is range price 600 - 620 dollar

in end year range price bitcoin can 700 - 800 dollar every one bitcoin

Price predictions are like weather predictions. In theory everything should happen like the theory predict and then something good or bad happens and everything goes to hell. We are seeing steady growth, but one Bitfinex event could blow this progress back to the $200 levels.

I would have thought the announcement about the first LN transaction that was done, should have sparked some upward trend in the price, but I think that might be a bit optimistic and premature. ^smile^ 

Nice long post. Let me shorten it up for you -

TL;DR: "The price has been steady for a long while, it'll not be surprising if it stays this way."

I agree with you fully, buddy.

What do you mean by "upper consolidation levels of $700"? That Bitcoin will start going up to $700 and then stay stable to start consolidating again around that price? I do not think that would happen before the end of the month like you mentioned. That would be very optimistic of you to think that it will. That kind of momentum going to $700 before the end of the month would be so strong and it would take Bitcoin beyond $700 in my opinion. To where it will crash is anyone's guess because a large pump will be the only thing that will take BTC to $700 in a decently short amount of time.

When there is a pump you know what will follow later.

Thanks for confirming that bitcoin will continue its terribly stable price levels.
Your upper consolidation levels of $700 might be happening before the end of this month as there are a lot of good supporting news are keep on coming. Let us hope for good to happen.

Market Commentary (BTC):

Bitcoin Price Update for October 6, 2016 

Given that bitcoin is STILL trapped under 610 $ this morning and remains inside the daily symmetrical triangle formation that we showed in yesterday's update, today we want to focus on the short term for clues as to where we might be headed over the weekend.  It is clear on said daily chart that a move is coming considering price is getting squeezed between the triangle downtrend line and SCMR dynamic support.  Any move to the upside will break the formation, and conversely a failure means a retest of support around 595 $.  Which brings us to the 4-hour chart below which is showing some interesting features related to these key medium-term technical areas.

Notice that we had another symmetrical triangle consolidation working on this timeframe for awhile, however this one was broken about a week ago.  We can see that there wasn't much follow-through after the break, although price was able to stay above the apex and is now following the uptrend line higher.  Also note that we still have strong SCMR dynamic support building at the aforementioned 595 $ level, which is around where the OTE long zone and a volume profile notch both sit.  Additionally, the 200-period SMA remains in a supportive uptrend and is now sitting around 605 $ while the near term EMA's try to make a move to the upside.

Moving on to the oscillators we can see that Willy and RSI have broken above their centerlines while the Stochastic just gets going to the upside, and PPO is still neutral.  Additionally, trading volumes are picking up, the A/D line is still trending higher, and volume profile looks better than it has it quite a long time complete with very thin air above 615 $.  Finally, we have OTE zones at 595 - 600 $, as well as between 615 - 620 $, so even if we do get a minor breakout from this 600 - 610 $ range this weekend we are not expecting a ton of volatility (at least not yet). 

All things considered we want to remain in our current positions despite the lack of price action over the course of this week.  We still think there is a good chance that price holds support in the 605 $ area on selloffs while testing slightly higher levels in the previously mentioned OTE short zone between 615 and 620 $.  This is where we will be taking profits on the VST long ProTrade we remain in, profits which we will look to redeploy on a retest of either the 590 - 600 $ area or hopefully down in the ST buy zones if we are lucky. 

Despite what could be a relatively volatile weekend compared to what we have been getting recently, we still don't think the market is ready to attempt to break away from this broad and extended consolidation range between 450 - 700 $.  We are getting closer to a resolution, but we are not there yet.

GLGT!

https://www.bullbearanalytics.com/