Close to BIG Breakout. Will it be $7K or $13K? - page 2.

guoyu78

hero member

Activity: 1190

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Quote from: barota on September 06, 2019, 04:14:24 PM

bitcoin will drop to level 7000 soon

See one of them, you guys have come here again, but one thing I like about you people's prediction is that anytime there is a wish of downfall from your group, which is when bitcoin will start surging high.

Before April when bitcoin had not turned to $5000, many people were speculating that bitcoin would go down to $2000, we waited for their prediction, but rather than their prediction coming through, bitcoin started increasing in price till it crossed over to $13800 without ever touching that value, and now we are having someone predicting a huge dump from this high amount to $7000, it sounds quite so crazy to me and unreasonable prediction because bitcoin has already passed that stage of dumping that low, if there is going to even be a correction right now, highest we can dump is by $1500.

YuginKadoya

legendary

Activity: 3038

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Resistance is pretty much up ahead and I think we are not even piercing up right now and we are stock to $9000 and $10,000 USD, for now, it seems that it is ok to just buy when the price reaches a certain level from $10,000 and $11,000 it is a good small profit for now, but for me it is good to just hold it and wait for the big leap, well there isn't much for now but there is good take in being patient in every bull run we take, but the big leap may take a fall in the year 2022 and right now lets just savor a small profit for now.

Pab

legendary

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It looks like that we are still in side way movement between 9500 K-10600 K
I don't believe much in dump to 7K.There is very strong support at 9K
Only one problem is lack of liquidity .Because of that quality alts are going down to btc
Benefit is that all that shitcoins will die forever and ever

target

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Quote from: el kaka22 on September 04, 2019, 12:55:07 PM

This is one of the hardest times to be a leverage trader right now. I mean it could go any direction and we have no idea what it will do.

I do not deal with charts because I have seen them fail too many times but public sentiment is never wrong, if people are thinking that bitcoin will go up and hyped about it then the price will go up, however if they think bitcoin will be going down and afraid it will go down.

It is mostly because there is no regulation in bitcoin so when people are afraid they sell which directly causes it to go down or when people are hyped they buy and it directly goes up. Right now people look tired of the same price once again, it has been around the same price for a long time and people are about to say "it is enough of the same price, I am going out until something fun starts to happen".

Fudsters says the different things. If they spread fud and tells bad news, its the opposite that actually happen. Maybe its because of the disappointments that keeps going on that I only notice that same pattern but I think those fudsters aims to confuse traders who waits fundamental news.

hatshepsut93

legendary

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All these months of sideways trading made me rethink my past predictions that this bull run will be short and might end before the next halvening. Now it looks like things will take much longer time, with multiple periods of explosive growth and sideways trading during next 1.5-2 years. $13k will be conquered sooner or later, but it won't be the only wall of this bull cycle.

BitHodler

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Quote from: STT on September 06, 2019, 02:43:08 PM

However we get a blip down to end the working week:
~snip~

It was to be expected with how low the volumes were today. We got an uptick on low volume that just wasn't going to hold, where the weekend made it even less likely for the price to break out.

CME closed the day in the red after a pretty firm rejection at $11.1k, which I think is healthier in case we do see the price bounce back up tomorrow. Most of the gaps we have had have always filled quite consistently.

Currently we're still being supported by the 21EMA on daily chart, but I'm not sure how long the price can be held above $10k-- one more sub $10k dive might lead to a massive dump where we take out the $9k mark.

Wilhelm

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Quote from: barota on September 06, 2019, 04:14:24 PM

bitcoin will drop to level 7000 soon

Nahhh sideways forevah and then it goes booooom to da moon. Been here before... $7k only in a whale flashdump...

barota

sr. member

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bitcoin will drop to level 7000 soon

STT

legendary

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Seems like 13k even briefly was more likely of the two however negative I might think it would be after breaking a trend or failing in some way, it seems to drift back up which gives 13k constant credence

However we get a blip down to end the working week:

So I zoomed in as I presume this is the relevance till Monday. Yellow is 8 day and also some trend so I think thats the most likely target we go for. 2 day average on the blue line, if we get past I guess it was just a stop loss check, cash in by some seller who then immediately buys back at a nicer price/profit. Though I never think its one guy, its easier to characterize in that way.

iv4n

legendary

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Quote from: el kaka22 on September 04, 2019, 12:55:07 PM

This is one of the hardest times to be a leverage trader right now. I mean it could go any direction and we have no idea what it will do.

Every time is the hardest time for leverage trading. Since I`m here traders have the same dilemmas. With this kind of questions, will it be 7k or 13k, it`s like gambling, trader have 50% chances to be right. Both are possible, we all know that, to play smart in this times means to keep your bitcoins safe, and if the price drops to buy some, I`m doing that. I`m not sure about 13k, but I believe that we will go over 11k before the new year. It`s definitely not the time for shorting, price can bounce back anytime, buy if it dips and be patient, if you don`t know what else to do.

exstasie

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Quote from: exstasie on September 04, 2019, 01:25:46 PM

There's no shame in waiting for a confirmed breakout and buying the dip!

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:

Herbert2020

legendary

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right now most of the investors are undecided and are waiting for either two things:
- a drop like what we had recently to buy cheaper coins which is why price is not going to go any lower than that and it gets increasingly difficult to push it down too because of the buy support that shaped there.
- the breakout to jump on board which is why we always see a FOMO buy right after a sideways action in bitcoin. and i guess the breakout will be to $15k instead of being so low at $13k.

SquallLeonhart

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I think that all this while that bitcoin has been having series of correction, it is the high time for it to have that major breakout that we have been wanting and if we can just wait a little bit more, I am sure that that breakout will happen within the next 2 weeks, so for long term holder, they can still continue to wait for the value to break out to $13k, and then can decide if they want to sell then or keep waiting, but for shorter term trader, I think your suggestion is still better as we are all only predicting and even with your chart that is creating strong signal for breakout, we still have to be careful not to be misled.

In a situation like this, I just split my investment, I could take one out now and the leave the rest to risk it and see of there would be a major breakout.

exstasie

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Quote from: el kaka22 on September 04, 2019, 12:55:07 PM

This is one of the hardest times to be a leverage trader right now. I mean it could go any direction and we have no idea what it will do.

Hence the old expression "sometimes no trade is the best trade." This past couple months, traders have been getting chopped to pieces by this ranging, whipsawing market. They keep trying to position themselves for the next big move, but every swing (in both directions) keeps failing. Only those who knew to trade it like a range (or to stop trading it entirely) have done well. Everyone else is bleeding money.

There's no shame in waiting for a confirmed breakout and buying the dip!

el kaka22

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This is one of the hardest times to be a leverage trader right now. I mean it could go any direction and we have no idea what it will do.

I do not deal with charts because I have seen them fail too many times but public sentiment is never wrong, if people are thinking that bitcoin will go up and hyped about it then the price will go up, however if they think bitcoin will be going down and afraid it will go down.

It is mostly because there is no regulation in bitcoin so when people are afraid they sell which directly causes it to go down or when people are hyped they buy and it directly goes up. Right now people look tired of the same price once again, it has been around the same price for a long time and people are about to say "it is enough of the same price, I am going out until something fun starts to happen".

michellee

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I want to see the price break out and start a rally to the higher price Grin

But I don't have any clue about what will happen later because I see that it seems, bitcoin price is stable at a price now, and it seems, it's more difficult to predict. The price itself is not going to down or up too higher and it always back to the price before if there is a movement at the market. It makes me a little bit confusing to determine what will I do, and that makes me wait for a while to see how it goes.

ophyrim

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According to the last movement, BTC is in a descending triangle which is a bearish formation. And the probability of "down" is higher that the "up". the top of this formation is 11k USD and after the down break out the target is 5k.

Red-Apple

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Quote from: STT on September 04, 2019, 04:23:19 AM

Actually reminds me of this time last year when we had some similar action continually bouncing except that was around the 6500 area upwards. People said it couldnt be lower then that because of mining costs or something, this repeated many times with no resolution and it also seems like that now.

except that by that time the reversal had not happened yet. the only thing that had happened was price reaching the bottom. then the manipulation came and the panic sells continued the down trend.
now the reversal has already happened months ago and we have been in an uptrend instead. this here is more like 2017 when price was at price had just fallen from $7000 to $6000 and people were drawing lines pointing to back to $1200 and then $10k was broken instead.

NeuroticFish

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Quote from: JL0 on September 04, 2019, 04:42:01 AM

VanEck, SolidX Bitcoin ETF launching at Sept. 5 and Bakkt is coming to end of this month. I think we going UP Grin

it's my opinion

Only the news may not affect the price much, maybe short-lived pumps.
But it's september. People are back to work. Mining difficulty rises. Halving is getting closer.

Let's see if the price will meet the expectations or some whales will decide it's best to dump.

JL0

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Bitcoin the Digital Gold

VanEck, SolidX Bitcoin ETF launching at Sept. 5 and Bakkt is coming to end of this month. I think we going UP Grin

it's my opinion

Topic: Close to BIG Breakout. Will it be $7K or $13K? - page 2. (Read 728 times)