According to technical analysis, it makes sense but the general situation is that people still think it will be dumped again. Because this bitcoin halving was pumped too early, it needs to be adjusted and the weekly candle confirmed the reversal candle. It is only accumulating sideways at $ 8k5 and $ 8k7. This week, the price will be dumped sharply.
does that mean? This is not a PUMP, this is a recovery, the Normal price for Bitcoin for miners before halving is at $ 6000- $ 8000, and after Halving the price of Bitcoin for miners must be $ 12000 - $ 140000, if it is still at $ 8000 miners will lose, I assume that miners will not let the price drop below $ 7,000 
Topic: Could we see another breakout now? 🤔 (Read 246 times)
According to technical analysis, it makes sense but the general situation is that people still think it will be dumped again. Because this bitcoin halving was pumped too early, it needs to be adjusted and the weekly candle confirmed the reversal candle. It is only accumulating sideways at $ 8k5 and $ 8k7. This week, the price will be dumped sharply.
It's really hard to say anything about Bitcoin, but i think that very soon we'll see another breakout. But it is hoped that it will soon return to its original place by pumping. It's just an idea of mine.I don't want that to happen. It's easy to hit Bitcoin 10K from the current situation and I want it.
Yes, of course, we have done that in that past days but actually isn't a long stay within, then it back to $8.7k at this post. There is a long way far from making another ATH this year, not until the crisis isn't over. The mind of the people aren't focusing much on investing coz they also have concerns about their daily needs and they are more cautious in investing now. And most likely, they are saving their money in reserve just in case if the pandemic will take so long. 
We have already seen that breakout, right now price is around 10k, it drops a bit and increases again however we can't deny that price is around 10k right now. I think there is one more hidden until the halving as well. People think that price already increased a lot, we were around 7k, it was getting harder to move beyond 7.3k because there was a huge wall and resistance so people thought that would be the level we need to break before halving.
Nowadays we are looking and that 7.3k would look like a bear run if we go back there, its 2.7k lower than the current price. Which is why I always say "there is no enough in bitcoin", it could literally go up as much as you can imagine and can drop as much as you can imagine. There is no level that is unrealistic for bitcoin.
Nowadays we are looking and that 7.3k would look like a bear run if we go back there, its 2.7k lower than the current price. Which is why I always say "there is no enough in bitcoin", it could literally go up as much as you can imagine and can drop as much as you can imagine. There is no level that is unrealistic for bitcoin.
The $ 8,000 levels are not resistance levels(There is no historical resistance there,) so we won't see the price for long. The price will struggle to rise to higher levels at $ 9000, or to bounce back to $ 7000 levels.
There are no indications that we will return to $ 7,000 again, but it is an option.
So I bet we will break the $ 9,300 barrier soon.
There are no indications that we will return to $ 7,000 again, but it is an option.
So I bet we will break the $ 9,300 barrier soon.
We have broken the $10k barrier, but the thing is, it is not sustainable so we may need to re-visit our charts again and 'speculate' if we're going to see a new break out. Hopefully though, we can get over the five digits prior to the halving because I think that's where everyone wanted to see. However, we can't discount the chance that after breaking that price during the halving, it will be followed by a decline again. So correction might happen post-halving. Pre-halving is different though, most dips are getting bought lately and very fast.
It looks like bitcoin is trying to go up but there is a lot of sell pressure that is keeping it there. At one point I said it is just people selling to make a profit, they bought low when it was 6k or something and now they are taking that profit. However, this happened way too many times so I can't really say this is simply just people taking profit, it looks like some people are trying to keep the price low and honestly I don't know why but at this point I am pretty sure it is just people who want to keep it low.
Maybe it is the leverage people who do not want to get liquidated. No matter what it is, as long as we try to keep going up all the time, we can fail and fail again, fail better, but eventually we will succeed and go up eventually because no one can afford keeping it low forever.
Maybe it is the leverage people who do not want to get liquidated. No matter what it is, as long as we try to keep going up all the time, we can fail and fail again, fail better, but eventually we will succeed and go up eventually because no one can afford keeping it low forever.
Actually, the charts I've been looking at show very low volume, relatively speaking. And this is the same pattern I've always seen in this 9-10k range. Volumes that are so low, shallow orderbooks, making it really inconsequential to see breakouts at this range.
Who wouldn't take profit at 10k anyway, given how easy it's been to fall back from there.
It looks like bitcoin is trying to go up but there is a lot of sell pressure that is keeping it there. At one point I said it is just people selling to make a profit, they bought low when it was 6k or something and now they are taking that profit. However, this happened way too many times so I can't really say this is simply just people taking profit, it looks like some people are trying to keep the price low and honestly I don't know why but at this point I am pretty sure it is just people who want to keep it low.
Maybe it is the leverage people who do not want to get liquidated. No matter what it is, as long as we try to keep going up all the time, we can fail and fail again, fail better, but eventually we will succeed and go up eventually because no one can afford keeping it low forever.
Maybe it is the leverage people who do not want to get liquidated. No matter what it is, as long as we try to keep going up all the time, we can fail and fail again, fail better, but eventually we will succeed and go up eventually because no one can afford keeping it low forever.
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I doubt that we will see $10k. Traders are liquidating their positions around $9400 as we have seen twice already in this rally pre-halving.
We just have to be optimistic that's just it, truely that resistance level is what's delaying bitcoin surpassing $10k. The movement we're able to breakout I don't think will be trading below $10k prior to halving. There's some disturbing observation from the recent attempt to break that resistance level. The previous attempt saw bitcoin trading at approximately $9440 on April 30 but yesterday attempt could take it above $9411.
Seems like, more and more traders are getting the scoop of what's is happening in regards to the resistance level been at $9,4k just hope it doesn't delay the breakout as if the price couldn't surpassed $10k before the halving, don't think we'll be seeing that again for next couple of months.
I don't think that $9k would be a "break out" I mean sure it is an increase and I would love to see the price going over 9k but the word "breakout" usually is used for stuff like going 20% higher or something. Just to give an example break out is also used for breaking out of jail, like being stuck somewhere for logn time and then getting away from it in general. Price reaching to 9k right now wouldn't be like break out of jail, it would be more like getting out of your cell to the jail court and walking a bit more freely but still being in the jailhouse limits without breaking out.
To say that we are on a break out we should be around like over 10k right now. More likely scenario would be price going close to 8k first and then breaking out to over 9k after only that.
To say that we are on a break out we should be around like over 10k right now. More likely scenario would be price going close to 8k first and then breaking out to over 9k after only that.
Certainly!
$8,600 and $8,550 are now shattered as though they are nothing hard.
Bitcoin is now reaching almost $8,900. But still this might not really mean a huge breakout. $9,500 looks to be the highest this green can reach before correcting once again.
$8,600 and $8,550 are now shattered as though they are nothing hard.
Bitcoin is now reaching almost $8,900. But still this might not really mean a huge breakout. $9,500 looks to be the highest this green can reach before correcting once again.
There is a huge selling pressure @$9500, unless we see a crash so that we can get people to buy bitcoin again and push it to the five digits. And so it seems that $8800-$8900 will be the price before the halving. Although things can cook up, I doubt that we will see $10k. Traders are liquidating their positions around $9400 as we have seen twice already in this rally pre-halving.
It even looks like there is a really strong wall at $9,000. The price barely got it but was not able to hold on to it. It did not even surpass $9,100. It has to go beyond $9,100 at least in order for that $9,500 to become the next target. If the price will only touch $9,000 up to a little more, it means it could also lose it anytime. It looks like the selling is hard at $9,000.
Certainly!
$8,600 and $8,550 are now shattered as though they are nothing hard.
Bitcoin is now reaching almost $8,900. But still this might not really mean a huge breakout. $9,500 looks to be the highest this green can reach before correcting once again.
$8,600 and $8,550 are now shattered as though they are nothing hard.
Bitcoin is now reaching almost $8,900. But still this might not really mean a huge breakout. $9,500 looks to be the highest this green can reach before correcting once again.
There is a huge selling pressure @$9500, unless we see a crash so that we can get people to buy bitcoin again and push it to the five digits. And so it seems that $8800-$8900 will be the price before the halving. Although things can cook up, I doubt that we will see $10k. Traders are liquidating their positions around $9400 as we have seen twice already in this rally pre-halving.
I don't know why people draw wedges like that and expect to make money. In my opinion they are pretty much useless under small timeframes, maybe on a daily or weekly chart they would serve a purpose but not on a 60M chart.
If he took the trade then he would be in a profit on the long but if he shorted that trendline he would be at a loss since BTC hit $9100 a few moments ago. I think the only resistant near term is the $9400 and then the mighty $10K which is obviously a psychological level.
If he took the trade then he would be in a profit on the long but if he shorted that trendline he would be at a loss since BTC hit $9100 a few moments ago. I think the only resistant near term is the $9400 and then the mighty $10K which is obviously a psychological level.
Certainly!
$8,600 and $8,550 are now shattered as though they are nothing hard.
Even though it breaks that range, its not that hard also to dump it when suddenly a news or any fud has been seen on the web. Technically speaking, we can reach $9,000 any minute now as the demand and gap has been filled already also there is some 7million usdt has been sent to Binance a while ago, if those are manipulators expect it to be like in hurry like the last time it reaches $9,400 but suddenly drop. Someone must have noticed the transfer also Im sure.$8,600 and $8,550 are now shattered as though they are nothing hard.
Im more positive it can exceed today but the question is will it stay on that price for long and become a new resistance level.
Certainly!
$8,600 and $8,550 are now shattered as though they are nothing hard.
Bitcoin is now reaching almost $8,900. But still this might not really mean a huge breakout. $9,500 looks to be the highest this green can reach before correcting once again.
$8,600 and $8,550 are now shattered as though they are nothing hard.
Bitcoin is now reaching almost $8,900. But still this might not really mean a huge breakout. $9,500 looks to be the highest this green can reach before correcting once again.
I'm much happier if you try to use a higher timeframe there. But your chart still good, especially you identify that pattern, which is one of the bull patterns, if we really break that triangle, I am expecting to see above $9,000 again or even $10,000, but it takes time. This recent dump for sure is just a pullback, and I am glad that we did not fall below $8,000.
So could we see another breakout in near future?🤔🤔
In the future? One year, two years, and so on...?
Maybe I was optimistic if I could predict Bitcoin price will surge into $20k next year (one year after halving). The effect of the halving has quite seen months after as previous data have shown but it may quite different as the global market condition will influence the crypto market as well.
Anyway, nobody could really predict the market and it might better to have your own.
BTC goes up to 8626$ and bounces again hits 8600 and 8550
As you can see, 8600-8500 strong support zones!
If you break the wedge, it can touch up to 8950 again.
So could we see another breakout in near future?🤔🤔
What is your opinion don't forget to write down below
Basing on the TA above we wont know if that support would be broken and head back again to lower to 8300 and since this is hourly TF
then i can say such thing yet i do only seldom trade with those timeframes.I do prefer on higher TF's for longer prospect.
Analysis above is plausible in short term movements and i would consider to wait up for that entry point in case.
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BTC goes up to 8626$ and bounces again hits 8600 and 8550
As you can see, 8600-8500 strong support zones!
If you break the wedge, it can touch up to 8950 again.
So could we see another breakout in near future?🤔🤔
What is your opinion don't forget to write down below
BTC goes up to 8626$ and bounces again hits 8600 and 8550
As you can see, 8600-8500 strong support zones!
If you break the wedge, it can touch up to 8950 again.
So could we see another breakout in near future?🤔🤔
What is your opinion don't forget to write down below
We already did touch 8950 today.
We would be seeing btc in the 9-10k level in the next coming days very easy.
This only shows that the pandemic scare is subsiding and it doesn't stop from bitcoin to recover fast.
And with the potential medicine showing good progress, we hope that this will slowly give people hope on this crisis.
The $ 8,000 levels are not resistance levels(There is no historical resistance there,) so we won't see the price for long. The price will struggle to rise to higher levels at $ 9000, or to bounce back to $ 7000 levels.
There are no indications that we will return to $ 7,000 again, but it is an option.
So I bet we will break the $ 9,300 barrier soon.
There are no indications that we will return to $ 7,000 again, but it is an option.
So I bet we will break the $ 9,300 barrier soon.
Yes day to day there will be gains, but HODDLE for 5-10 years and you will see the price up to very high levels, some people like PlanB based on the new stock 2 flow chart have even predicted a $245k price by 2024!
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