Topic: Crypto Market Records Decent Gains But Bitcoin Has to Rise Above $4,500 (Read 242 times)

Yep, that's the best thing we can do, have a wait-and-see attitude before making our move. Shorting might be good, but at the long run we might see momentum shift, so let them play the game and when the time comes (bullish trend), it will be a new ball game again .


Me either, actually when I see the price trading sideways at $6k-$6500, it was a good indication that we might see a break out run prior to the end of the year. However, some things are really beyond our control, like that CW idiots who causes the price to drop significantly.

Yeah the analyst is quite right, we have seen 4000+ multiple times in the recent months, we have even seen price rise from 3200 to 4200 in a week previously and that didn't help it when the price went down to 3600. Which means unless we break the 4200 levels into 4300+ levels than there is literally no way of knowing if we are going bull or not.

Price could go from 3800 to 4200 and even tough in percentage wise it is a good gain we still don't know if the price will be going above 4200 or going down from there. Hence without breaking that number we are bound to keep dropping anytime we increase. I would rather see price stable at 4 thousand instead of these volatile movements because it only works for traders and no one else.

Hence, I think the wisest thing for buyers to do would be waiting for buying, collecting as much fiat as they can and instead of constantly buying, let the price go down and than buy all at once to make a shocking increase in the price.

Don't know about the rest of you but it feels really strange to me to be talking about breaking $4300 before bull is back and $4500 before momentum is gained. Price is almost guaranteed to break $4500 in the next few weeks, if not even days, and this will just be the natural order of how it's been for the past 10 years. Breaking $4500 now is a mere 12% or so increase - we've seen 15% spikes in a day happen regularly enough, even after this so-called period of stability.

There's no bull or bear right now. It's just what it is.

This will be the second attempt to break and hold $4200 levels after hitting the bottom around $3200 levels. So I'm not expecting another bearish movement until testing the next resistant levels which will be around $5100. I believe this is the right time to get into bitcoin so that in short-term be may see some good profits along with this rally.

Basically I never bother any media and their positive nor negative crypto related news. Yes, no media is right even with stocks and forex markets then how we can expect them to be accurate with this completely new market (I agree the fundamentals of all the markets of same but cryptomarket has a hidden fact that must be it is the always bullish in long term whereas most other markets are not).

litecoin is up 50% in the last 30 days. i think bitcoin(up 20% in last month) will close the gap soon and we blow past $4500 imo.

That is because mainstream media is just riding the popularity of Bitcoin and they don't know how the market works. And I would agree that there are media, like CNBC who always tells about about where the price could be, but then the opposite happens. LOL. So it's better to just wait right now, but I would also advise not to short take positions, unless you know what you are doing. Quite stable around the $3800-$4000 barrier, although still bearish we might see the price attempted to breach that $4200 and hope that it will be a successful run this time.

That actually lends itself for a perfect counter move. In most cases, when the average joes of this world start to figure out that something is repeating, and there potentially is money to be made by shorting just below or around the resistance level it has failed to break through before, it won't work anymore. We'll have to wait and see if that is indeed the case this time.

In the end, even if it does break out to the up side, there is not much to celebrate considering how far below $6000 we still are. It's going to be incredibly difficult to break that level, but if we do, that for me is a clear indication that we have bottomed out for good.

That being said, I don't mind it to sit below $6000 for a longer period of time, which means more bang for my buck as I dollar cost average into the market. Buying Bitcoin today isn't the same as it was below $1000 some time ago, so you have to carefully time your buys.

Tell that to the bots. Lol. But the real problem today is that speculators are just shorting bitcoin. Just look at the price today, there's a sudden spike from $3800-$4K but as soon as it goes for as little as $4100-$4200 again, we will see another sell-off.

I guessing that this will be pattern for the next couple of more weeks until we see a clear sign as to where the price would really go. But I'm fine if the price goes on a long trading sideways though, it means that investors are just observing, but are more willing to enter once a clear pattern of bullish starts to emerge.

What you are telling is true about media information,  They always hype and produce the information, it is believed that you should always see the market and move according to it.

I would not take a short position as it stands right now.  Bitcoin could easily get a green candle wick up to 4.5k-5k in a short amount of time.  We've seen this type of movement happen time and time again.  Also you usually want to do the opposite of what mainstream media is telling you to do.  They are calling bitcoin dead which means you should probably be picking up more  They did the same thing with apple stock, they told everyone to buy at the all time high and now it is down 40%.

Yes BTC need to change as the value of this coin is still on $3.5 plus which is not a good turn around as the new year has started also a lot of them are eagerly waiting to see Bakkt launch at least this can make a change in bitcoin value.

Over the years the market has developed  a propensity to hold off well when dropping, and bitcoin recorded higher sure levels with each year, this does not always reflect in the resistance levels.
And stability has also been on the increase

A shoot term rally could come, and breaking above $4500 could spark the rise, if the volume keeps increasing.

BTC has been stuck in the current range now for around 2 months, any hope I had of a swift recovery back above $4500 is gone. At this point it seems that the market will build more bearish momentum over time rather than there being a sudden reversal and bullish movement. $4500 is the key resistance level but it's not even come close to being breached.

In the past 24 hours, the crypto market added $3 billion to its valuation as Bitcoin (BTC) and Ethereum (ETH) performed relatively well against the U.S. dollar.

Several crypto assets in the likes of Litecoin, TRON, and Cardano recorded the largest gains on the day in the range of 6 to 12 percent.


Bitcoin Has Needs to Break Above $4,500
As the cryptocurrency market avoided a further drop below the $130 billion mark, Bitcoin defended the $3,800 level and stabilized at around $3,850.





According to a technical analyst with an online alias “DonAlt,” for the Bitcoin price to establish a foundation for a strong short-term rally, it will have to break out of major resistance levels above $4,500.

The analyst said:

    Monthly: Still bearish, needs to break above $4,500 to even attempt a bullish recovery. Weekly: Rejected by weekly resistance but finally showing some bull momentum. I’d like to see us start closing above $4,300 before turning bullish.

Currently, despite the relatively stable past few weeks demonstrated by the majority of crypto assets, the market still remains down by around 43 percent from November levels.

To initiate a strong short-term rally, the cryptocurrency market would have to add more than $80 billion to its valuation, which is certainly possible if the Bitcoin price is able to sustain its momentum throughout the first two quarters of 2019.

Analysts generally expect cryptocurrencies to undergo the final phase of the year-long bear market prior to the end of the first quarter of this year as the asset class eyes a gradual recovery in the second quarter.


Crypto Still in Early Phase
Chris Burniske, a partner at Placeholder VC, said that the cryptocurrency sector is in the installation phase wherein builders are dominating the asset class and the mainstream is not heavily involved.

Until the asset class becomes more resilient and robust, it will continue to see a high level of volatility and wild price cycles.

He said:

    But the mainstream? For most, crypto is still not relevant to their life. If they didn’t invest in 2017, they’ve forgotten. If they did, chances are they have a bad taste in their mouth and want to forget. I don’t say this to dishearten us. Quite the opposite. We remain in the installation phase of crypto where the primary users are developers & investors. There is so much left to build and promise to be realized, which is massively exciting.

With the emergence of custodial solutions and strictly regulated liquidity providers, the cryptocurrency market may see an inflow of institutional and high profile investors in 2019.

However, given the historical tendency of the asset class to initiate rallies based on cycles, some analysts expect cryptocurrencies to undergo a long-lasting consolidation period and demonstrate a high level of stability throughout 2019, as the bear market comes to an end.


Reference: https://www.ccn.com/crypto-market-records-decent-gains-but-bitcoin-has-to-rise-above-4500/