Close to BIG Breakout. Will it be $7K or $13K?

beerlover

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Quote from: Google+ on September 08, 2019, 06:01:00 AM

no one can guess the price movements of cryptocurrency, if your analysis is correct then it is just luck, indeed everyone is free to determine the bitcoin price movement but you should know that bitcoin price movements depend on demand, the higher the demand, the bitcoin price can be expensive , even a few more months will happen halving bitcoin that can make prices rise so rapidly.

When you see the price going up from $3k to $10k then you may want to either get in because you think it will go up even more or you may want to not get in because it already made a lot of profits for many people and has been idle for months which means the train has already left the station.

There is really no point of insisting on the fact that bitcoin "will be higher" when people who bought from $20k still hasn't made any profits since it started to drop, yes maybe in 5 years we will laugh at these prices but expecting someone to wait 5 years for a profit is not a good idea, people should see some sort of life in bitcoin before they can actually go all in, without seeing any profits they will see it as a sinkhole that will eat up your investments.

btc_angela

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Quote from: jaocoincrypto18 on September 16, 2019, 09:48:40 PM

I believe $13k is still possible for this year as we have already witnessed the Bitcoin sudden domination of the market for just few months of up to 70% therefore with the 4 months left before next year we could expect some more pull up so lets stay positive.

We already breached that price this year, so it's no surprised that we can do that again. Also there's Bakkt effect, so we will have to cling to hope that it's possible that we can go to $13k-$16k at the end of the year because of this positive news. So far the price is really trading sideways, no clear path but after Sept 26 we may see a new divergence, whether Bakkt is a boost or not. (I hope so).

TopT3ns

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Quote from: jaocoincrypto18 on September 16, 2019, 09:48:40 PM

I believe $13k is still possible for this year as we have already witnessed the Bitcoin sudden domination of the market for just few months of up to 70% therefore with the 4 months left before next year we could expect some more pull up so lets stay positive.

Glad i am on positive people, i mean what i see from bitcoin really make improvement although get dumped. And then it is only need support from bitcoin users. I think in next year, although $20000 is still possible. Just hope there are no hacked news or bitcoin banned from a big country.

jostorres

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Quote from: Wilhelm on September 16, 2019, 04:29:28 PM

Breakout... Grin

I think when it comes to bitcoin you can never be sure and you should always be prepared for a big increase at all times. I know we had a year when bitcoin price didn't moved up and moved mostly down the whole year so many of the new people remember that as bitcoin but know that no matter how much bitcoin drops it always goes back up and increases even more, I feel like at this point all those people saying 100k or one million is not even wrong, it just won't happen right now, it will probably go to a high price than down and up and down and reach all those prices eventually with that method.

Maybe this run will stop here, maybe it will stop at 50k, nobody can know but one thing is certain that no matter where we stop now, it will be even higher than that in the future so there is no bad place to buy bitcoin.

jaocoincrypto18

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I believe $13k is still possible for this year as we have already witnessed the Bitcoin sudden domination of the market for just few months of up to 70% therefore with the 4 months left before next year we could expect some more pull up so lets stay positive.

exstasie

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Quote from: Wilhelm on September 16, 2019, 04:29:28 PM

Breakout... Grin

These multi-month corrections always teach me never to call it until it finally happens.

I'm convinced BTC will break to the upside in the next couple weeks. I also know there's still room for trolling.

Wilhelm

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Breakout... Grin

exstasie

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Quote from: exstasie on September 06, 2019, 01:32:31 PM

The market doesn't seem ready for breakout. Looks like bears are still defending the overhead trend line from the $13,000s. If the daily candle closes as a failure like this, we should expect to bounce back downwards into the lower end of the range:

Very interesting price action here. Buyers just rejected an attempt to dump below $10K and are now threatening to re-test the downtrend line again! If bulls can break $10,460 with authority, it will be our first signal that this correction is ending.

Time for breakout or just more trolling? Stay tuned:

STT

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We are bullish for the weekend is how I would characterize this market, over a period greater then the next few days I would still look to a confined price and how will markets resolve that but the days over a weekend are without main markets and I think more bullish.
I believe we resolve the larger picture when we dont have futures involvement and larger company players with volume who will trade on Monday and week days more heavily.

Quote from: 4hr bar 50 200

Stay above these two averages and we're good for the moment and generally in a positive area, any negatives would just be in speculation comparatively.

adaseb

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There are many issues with this trading strategy. The main one is that everybody is looking at this triangle and when this happens, usually there are head-fakes. Another issue is that the triangles are not clear, depending on which exchange you use and which angle you draw the triangles at you will get different results.

Regarding your strategy of shorting the break of $9000, the issue is that it might go to $8999 and reverse and you will be in an underwater short. Another issue is that your $10500 buy-stop already triggered and its already at a loss since we hit $10250 already and we might go lower.

I think its best to wait for a break of $9000 and if it heads into the $7500 area of lower, wait until it retests the $9000 again and just short it then instead.

Capt00

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Quote from: Google+ on September 08, 2019, 06:01:00 AM

no one can guess the price movements of cryptocurrency, if your analysis is correct then it is just luck, indeed everyone is free to determine the bitcoin price movement but you should know that bitcoin price movements depend on demand, the higher the demand, the bitcoin price can be expensive , even a few more months will happen halving bitcoin that can make prices rise so rapidly.

I'm sorry but not just to put all things into guessing cause this a big money and not even we rely on luck, most importantly we did something to move our funds bigger. Experts make more money as they know more about crypto movement (to its near possible change).
Speculating without some basis of it is just be nowhere and nothing to expect for in reality. Having those charts will help to formulate good speculation but of course, isn't a 100% reliable, only we are near to possible.

BitHodler

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Quote from: Bossian on September 08, 2019, 03:28:58 AM

Next support is around $9300, price is probably heading to that price soon or later.
Not good to buy right now, will probably buy more BTC around $9500 (September or October).

I do not think that if we head back to $9500 it will be any better in the short term. The more often the horizontal support gets tested, the more likely it is that we will penetrate it and visit much lower levels.

If you look at the descending triangle of last year, the current one looks kinda similar except for the fact that we haven't had a test of a major moving average on the weekly yet.

The 21EMA on the weekly is currently touching ~$9100 which will be what I am focusing on. A close below that on the daily, preferably on the weekly, is going to be the confirmation for me that we're done rallying.

bitgolden

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Some people are spreading FUD because they want to buy cheap, the price would fall with what they are doing and when it falls they will buy a lot of bitcoin (and even make more money by shorting at the same time as well) and than with the money they make they will start FOMO and that will result with them making a ton of money. That is why there will be a lot of people who will tell you that bitcoin will fall, believe me people who say bitcoin will fall have a profit in it, either they are going to buy or they are stock market brokers or they are gold bugs, basically anything that would profit from bitcoin falling, they are doing it not because they actually believe bitcoin will fall but because they are doing it to make more profits from bitcoin going down.

peter0425

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Quote from: audaciousbeing on September 03, 2019, 12:18:33 PM

Should this not be in the speculation section of the forum as its more about prediction of what the value of bitcoin would be other than the present.

absolutely !!this must be transferred to Speculation section that you ca find here

https://bitcointalk.org/index.php?board=57.0

Because this is for bitcoin topic only that not speculative

Quote from: Google+ on September 08, 2019, 06:01:00 AM

no one can guess the price movements of cryptocurrency, if your analysis is correct then it is just luck, indeed everyone is free to determine the bitcoin price movement but you should know that bitcoin price movements depend on demand, the higher the demand, the bitcoin price can be expensive , even a few more months will happen halving bitcoin that can make prices rise so rapidly.

But atleast there’s a big advantage if the TA is good to speculate the price soon.

And the given value of $7k - $13k is a good number to look at and would be also a good basis if you wanted to sell and wait for the fall,or just stay ho,ding till the price goes up

Google+

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no one can guess the price movements of cryptocurrency, if your analysis is correct then it is just luck, indeed everyone is free to determine the bitcoin price movement but you should know that bitcoin price movements depend on demand, the higher the demand, the bitcoin price can be expensive , even a few more months will happen halving bitcoin that can make prices rise so rapidly.

figmentofmyass

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Quote from: Wilhelm on September 08, 2019, 04:29:08 AM

It is a good time if you ultimately believe Bitcoin will go higher.
- If it breaks up you miss the train.
- If it breaks down you buy all the way down the dip. (Get a dollar cost average)
Trying to optimize your buy point is not a good strategy imo.

it depends on your goals. for those who are most concerned about losing coins or "missing the train", you're right---waiting around for an optimal entry that may not come isn't worth the risk. but for those primarily concerned about USD profits and capital preservation, optimizing entry and minimizes losses is paramount. if all you care about is USD, there's always more opportunities to be had.

Wilhelm

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Quote from: Bossian on September 08, 2019, 03:28:58 AM

Quote from: The Sceptical Chymist on September 07, 2019, 12:15:24 PM

Quote from: mazdafunsun on September 03, 2019, 01:49:23 PM

It seems that it broke up rather than down.

Maybe I'm missing something or being an idiot, but bitcoin hasn't broken out either way (yet). It's been trading in a range ever since breaking out of its last range when it was hovering around $3500 for many months.

I'm not a believer in technical analysis, but in this case I tend to agree with OP's analysis and also his advice with the stop-loss orders and whatnot. The past market behavior of bitcoin makes me think that it's going to pop over $13k or fall below $8k--one of those things is probably going to happen. And investors looks like they're pretty bullish right now, so my best guess is that we're headed higher rather than lower, but who knows. Whatever happens, I doubt that bitcoin is going to fall as low as $7k. If it does that, we're in trouble (but it'd be a damn good buying opportunity).

Quote from: Pab on September 07, 2019, 08:10:20 AM

Benefit is that all that shitcoins will die forever and ever

Lol. They're not dying, although a lot of them are stagnating right now.

Technical analysis can explain how BTC prices move 80% of the time, but you are not a believer?
Just see what some good posters post here, 80% of the time it's correct and the price touches the resistance, or the support.
Next support is around $9300, price is probably heading to that price soon or later.
Not good to buy right now, will probably buy more BTC around $9500 (September or October).

It is a good time if you ultimately believe Bitcoin will go higher.
- If it breaks up you miss the train.
- If it breaks down you buy all the way down the dip. (Get a dollar cost average)
Trying to optimize your buy point is not a good strategy imo.

Bossian

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Quote from: The Sceptical Chymist on September 07, 2019, 12:15:24 PM

Quote from: mazdafunsun on September 03, 2019, 01:49:23 PM

It seems that it broke up rather than down.

Maybe I'm missing something or being an idiot, but bitcoin hasn't broken out either way (yet). It's been trading in a range ever since breaking out of its last range when it was hovering around $3500 for many months.

I'm not a believer in technical analysis, but in this case I tend to agree with OP's analysis and also his advice with the stop-loss orders and whatnot. The past market behavior of bitcoin makes me think that it's going to pop over $13k or fall below $8k--one of those things is probably going to happen. And investors looks like they're pretty bullish right now, so my best guess is that we're headed higher rather than lower, but who knows. Whatever happens, I doubt that bitcoin is going to fall as low as $7k. If it does that, we're in trouble (but it'd be a damn good buying opportunity).

Quote from: Pab on September 07, 2019, 08:10:20 AM

Benefit is that all that shitcoins will die forever and ever

Lol. They're not dying, although a lot of them are stagnating right now.

Technical analysis can explain how BTC prices move 80% of the time, but you are not a believer?
Just see what some good posters post here, 80% of the time it's correct and the price touches the resistance, or the support.
Next support is around $9300, price is probably heading to that price soon or later.
Not good to buy right now, will probably buy more BTC around $9500 (September or October).

1Referee

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Quote from: Pab on September 07, 2019, 08:10:20 AM

Benefit is that all that shitcoins will die forever and ever

It depends on what your definition of shitcoins is, but unfortunately they will not miraculously vanish from the crypto sphere. The thing with altcoins not showing any signs of life (relatively speaking) is that it forms a solid setup for a contrarian move.

The most intense bull runs happen when people don't expect it. Currently people are prepared for it with loaded bags (just like they did with Bitcoin last year), which only means that there is selling pressure that will curb any attempt of an altcoin season to initiate. Once people unload these bags, things will start to get interesting.

Smart money has a lot of patience and it might lead to another 6-12 months of boring market activity. Dumb money on the other hand doesn't have any patience and I'm of believe that they are on the verge of dumping.

The Sceptical Chymist

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Quote from: mazdafunsun on September 03, 2019, 01:49:23 PM

It seems that it broke up rather than down.

Maybe I'm missing something or being an idiot, but bitcoin hasn't broken out either way (yet). It's been trading in a range ever since breaking out of its last range when it was hovering around $3500 for many months.

I'm not a believer in technical analysis, but in this case I tend to agree with OP's analysis and also his advice with the stop-loss orders and whatnot. The past market behavior of bitcoin makes me think that it's going to pop over $13k or fall below $8k--one of those things is probably going to happen. And investors looks like they're pretty bullish right now, so my best guess is that we're headed higher rather than lower, but who knows. Whatever happens, I doubt that bitcoin is going to fall as low as $7k. If it does that, we're in trouble (but it'd be a damn good buying opportunity).

Quote from: Pab on September 07, 2019, 08:10:20 AM

Benefit is that all that shitcoins will die forever and ever

Lol. They're not dying, although a lot of them are stagnating right now.

Topic: Close to BIG Breakout. Will it be $7K or $13K? (Read 728 times)