Current Local Roadmap of Bitcoin | Bitcointalksearch.org

Lasky366

member

Activity: 280

Merit: 43

Quote from: Lasky366 on August 18, 2020, 10:27:56 AM

$Updated BTC Local Roadmap 📜

Locally we received a new Range to work with, since the breakout of 12k$ Horizontal Resistance it should switch into the Horizontal Support, and we have New Resistance around 12.450$ established.

Overall priority is bullish as we are charting in the Ascending Channel, however we might get a retest of the 12k$ Support Zone, also the Mid Line of an Ascending Channel. In this case looking for a bounce and taking a long once it's confirmed.

Second scenario we break out of an Ascending Channel to upward, it's also a breakout of a new established Resistance, it's also a bullish case and a good point for a long position here.

This local structure remains valid, while we hold above 12k$. As if we go lower at least Lower Boundary of an Ascending Channel will be retested.

Well Done $BTC, now we should watch for the 12k$ Horizontal Support. If retracement follows long can be taken, cross under this zone will lead to the retest of the Lower Boundary.

sana54210

legendary

Activity: 3318

Merit: 1128

Quote from: Lasky366 on August 14, 2020, 12:27:00 AM

we are in the middle of the overall Range we have to looks for the Resistance & Support Zones, because the breakout of any of this area will point the Next Local Direction (marked on the chart). Simply working with a breakout now.

I am seeing this is not a new thing with every market. Because market will never stay at support or resistance levels but it will stay only at the intermediate levels. It will test support and resistance levels and then will trade into the middle. This must be the usual action of every market and bitcoin market is also doing exactly something always. Right now bitcoin tried to break the resistance at $12,600 levels but tested only $12,450 and then come back at the current levels of $12,200.

Quote from: Lasky366 on August 18, 2020, 10:27:56 AM

Overall priority is bullish as we are charting in the Ascending Channel, however we might get a retest of the 12k$ Support Zone, also the Mid Line of an Ascending Channel. In this case looking for a bounce and taking a long once it's confirmed.

By considering the world events (pandemic and slow economic conditions) and impact of recent halving, I am sure there will be big chances for market to remain bullish regardless of short term corrections. In my speculation, we can have the local roadmap of testing $15k in short term.

Lasky366

member

Activity: 280

Merit: 43

$Updated BTC Local Roadmap 📜

Locally we received a new Range to work with, since the breakout of 12k$ Horizontal Resistance it should switch into the Horizontal Support, and we have New Resistance around 12.450$ established.

Overall priority is bullish as we are charting in the Ascending Channel, however we might get a retest of the 12k$ Support Zone, also the Mid Line of an Ascending Channel. In this case looking for a bounce and taking a long once it's confirmed.

Second scenario we break out of an Ascending Channel to upward, it's also a breakout of a new established Resistance, it's also a bullish case and a good point for a long position here.

This local structure remains valid, while we hold above 12k$. As if we go lower at least Lower Boundary of an Ascending Channel will be retested.

tyoA7X

hero member

Activity: 1246

Merit: 501

I saw the bitcoin price go up and unstoppable Interest in bitcoin has started high and positive news always comes, I always hope the price of bitcoin can be higher than the end of 2017

Slow death

legendary

Activity: 3164

Merit: 1127

Leading Crypto Sports Betting & Casino Platform

Quote from: Lasky366 on August 14, 2020, 12:27:00 AM

We have the Range established, most likely to be a Re-Accumulation during the overall Uptrend, nonetheless it can be confirmed only by the breakout of 12k$ Resistance as I pointed out previously.

Locally we have some important key zones that can help us scalping, as we are in the middle of the overall Range we have to looks for the Resistance & Support Zones, because the breakout of any of this area will point the Next Local Direction (marked on the chart). Simply working with a breakout now.

now you can take out any refreshment or drink you have to celebrate because the price has reached $12400 and in the next few days or weeks it will challenge $13000 if it breaks $13000 and then manage to stay above $14000 then we will see prices like $17000 easily , but I am cautious because I think that between $12000 to $14000 will be the area where many people who bought in the $9000 will think about selling to buy again if the price goes down

YuginKadoya

legendary

Activity: 3038

Merit: 1169

Quote from: carlisle1 on August 15, 2020, 02:12:16 PM

Quote from: YuginKadoya on August 15, 2020, 01:57:52 PM

If it weren't going to overcome the resistance I guess it is OK as well let's not forget the correction that may happen if it continues to move forward in a fast pace, But for now, savor the price accumulation of Bitcoin even ETH has increased dramatically that I haven't noticed it,

Traders will just think of a good way they can make something good with the current movement, and I think the price range is still in a good place.

No need to rush things up as the market will experienced another corrections in coming days,
but this current movements really showing a good sign to keep your assets or if you have a
good looks from the graph and have proper understanding with the market movements, trying
to do short can also gives some dust profits just keeps on rinsing and make sure to keep
close the chance that it will move much stronger is very possible as well.

I also do think that the correction is at the midst of this price surging and right we are in the $12,000 USD and we just really penetrated the price and going in a smooth increase right now, but I am keeping an eye on a possible correction still, it is a good opportunity to let it increase and ride the surge going up, and a possibility of taking another All-time high.

Lasky366

member

Activity: 280

Merit: 43

Something more interesting, BTC Dominance has dropped significantly & might go some lower, but the point is that money from Alts (currently we have Altseason) will just inflow back to the BTC, it's where the party begins.

According to Fear & Greed index which keeps highest points the Market is heat very well for to start bigger rally.

Difficult to say about exact time as it depends on how far Market Makers are planning to push up the BTC, accordingly it will require longer time for the accumulation if we talk about the push up to the All Time High (or further upward), and less longer period if we just need to visit higher points such as 13.800$ & 16.200$ Resistance.

▪️For sure we have something interesting lays ahead. Longer it lasts, higher we will go.

STT

legendary

Activity: 4102

Merit: 1454

Quote

$15,000 then most holders will definitely dump one by one

Some dont need to dump BTC, I know quite a few never sold the first time 15k was possible partly as it was so brief but also because returning everything to dollars wasnt needed. Some just hold BTC because thats how its most useful to hold and returning to dollar would be more trouble then its worth. Also consider the real reason for BTC to be bullish is the growth of population means many are holding smaller amounts in their own wallets across millions of people, its not they are great speculators looking for a top just that its not that large amount. A small amount in a wallet even doubled is still quite small, there is the utility element to BTC, just simply I know somebody who bought and held BTC to pay server bills and that was his allocation and the price movement was incidental to him.
People are busy with other things in their life and not focused on BTC, the speculator point of view is abnormal and to be correct in predictions we in the long term have to know the majority average view.

bearexin

full member

Activity: 1162

Merit: 168

Increasing demand for bitcoin is also another thing that causes it to go up. The governments of the world is trying to get rid of this virus and that means they are going to print some money to make money a bit more worthless however at the same time save people who couldn't work during this period as well. Now that is definitely a great thing for the companies and people because they are getting paid even if not making as much money as they used to, they are doing much better than zero revenue with all the costs.

However it is not that good for the long term of the economy with all that money printing, so smart money moved to gold and smarter money moved to bitcoin. Include the halving into that which caused the supply to be lower (by half) that means increase was expected.

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

Quote from: Jating on August 16, 2020, 05:24:06 AM

Quote from: Baofeng on August 15, 2020, 12:45:24 PM

Quote from: Jating on August 15, 2020, 05:55:13 AM

On the contrary, it looks like this weekend is very different as the price seems to get over that $11700 and moving to $11800-$11900. So I guess when we are in a bull run those expectations are thrown out of the window because we really don't know what to expect.

And as the market is open 24x7, there could be some scalping during the weekends. And here we go again, seems that $12k is just around.

It's just a minor jump though, so I wouldn't consider it any different from any day specially weekends. If there's a sudden jump to $12k and continue to Monday and the rest of the week, then such be an exception. But right now, it just went on some little pump and the sideways, typical of a weekend activity, at least that's how I see it.

Maybe you're right then, there's just some small movement, trading volume is not that big during this weekend. But the price did manage to stay above the $11,800 levels, so no rush to push to $12k.

Looking forward to Mondays again and see how the market will resume, trading sideways or immediate jump to $12k and then some. Let's hope the resistance will be overcome again the fourth time and then simply go on until we hit $12,300.

There's quite pullback of price a little bit but still this is good sign since it manage to come at $11,800 which can tell us that we are still on strong side, so provably we will see some good view next week and those $12,000 above figures prediction will came out since the price is pretty much closer to come based on the figures today.

Jating

hero member

Activity: 2842

Merit: 772

Quote from: Baofeng on August 15, 2020, 12:45:24 PM

Quote from: Jating on August 15, 2020, 05:55:13 AM

On the contrary, it looks like this weekend is very different as the price seems to get over that $11700 and moving to $11800-$11900. So I guess when we are in a bull run those expectations are thrown out of the window because we really don't know what to expect.

And as the market is open 24x7, there could be some scalping during the weekends. And here we go again, seems that $12k is just around.

It's just a minor jump though, so I wouldn't consider it any different from any day specially weekends. If there's a sudden jump to $12k and continue to Monday and the rest of the week, then such be an exception. But right now, it just went on some little pump and the sideways, typical of a weekend activity, at least that's how I see it.

Maybe you're right then, there's just some small movement, trading volume is not that big during this weekend. But the price did manage to stay above the $11,800 levels, so no rush to push to $12k.

Looking forward to Mondays again and see how the market will resume, trading sideways or immediate jump to $12k and then some. Let's hope the resistance will be overcome again the fourth time and then simply go on until we hit $12,300.

ryap12

member

Activity: 700

Merit: 14

Quote from: Oasisman on August 16, 2020, 03:04:02 AM

Quote from: Yaunfitda on August 14, 2020, 10:06:30 PM

Quote from: Oasisman on August 14, 2020, 08:06:22 AM

Quote from: Yaunfitda on August 14, 2020, 03:46:30 AM

For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

~snip~

Yes but it's not for everyone because of the huge risk involved. I try to do scalping before, but it didn't work for me. Maybe others have good success rate or I do something wrong. Nevertheless, it is a learning experience for me. I guess, majority will agree that going long will be the best logical choice as break out to $12k or more are imminent.

Nothing is wrong but the timing of when will you exit and enter the market. I tried scalping as well when I was still starting out to make a trading career (which eventually fail lol) and yes everything went south. That's why It really needs critical market analysis, experience, and more and more experience.
But then again, going long isn't arguable. That's the most reliable method for everyone lol.

Btc movement this week seems very similar during the psychological $10k level, once Btc breaks the $12,000 resistance level ones or twice again, there might be a possibility Btc will have another run up to $15k.

I have the same speculation as yours, lol. But for sure once it hits $15,000 then most holders will definitely dump one by one. Aside from that, hoping for those bitcoins that were stolen will not get dump as of right now and BTC is trying to break the resistance. The graph looks good on what OP posted hoping it will continue to head North-East.

Oasisman

hero member

Activity: 2716

Merit: 552

Quote from: Yaunfitda on August 14, 2020, 10:06:30 PM

Quote from: Oasisman on August 14, 2020, 08:06:22 AM

Quote from: Yaunfitda on August 14, 2020, 03:46:30 AM

For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

~snip~

Yes but it's not for everyone because of the huge risk involved. I try to do scalping before, but it didn't work for me. Maybe others have good success rate or I do something wrong. Nevertheless, it is a learning experience for me. I guess, majority will agree that going long will be the best logical choice as break out to $12k or more are imminent.

Nothing is wrong but the timing of when will you exit and enter the market. I tried scalping as well when I was still starting out to make a trading career (which eventually fail lol) and yes everything went south. That's why It really needs critical market analysis, experience, and more and more experience.
But then again, going long isn't arguable. That's the most reliable method for everyone lol.

Btc movement this week seems very similar during the psychological $10k level, once Btc breaks the $12,000 resistance level ones or twice again, there might be a possibility Btc will have another run up to $15k.

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

I guess the short term roadmap for bitcoin would be testing the current ATH; I think $20k will be the hardest one, it will take a long time before we can even test it, and when we reach there, like be over $19k but under $20k, we will have a long period of time when we go above and go down and do that for multiple times before we could reach higher once again.

Obviously we are not going to stay under $12k or even $20k forever, there will be a time when we move above those levels eventually, I don't know how long it will take but look at 10k for example and how we moved beyond it, so that means no matter how long it takes we will reach there.

I feel like that $12k mark is another bigger psychological mark as well and the fact that we broke over it but hot holding it still doing better right now shows that there is really no problem with us breaking over such any psychological barrier; which means achieving all the goals of short term roadmap will not be a problem as usual.

Yaunfitda

hero member

Activity: 2870

Merit: 594

Quote from: slaman29 on August 15, 2020, 07:40:36 AM

Quote from: Yaunfitda on August 14, 2020, 03:46:30 AM

So now the resistance of $12k is not yet broken, been twice or thrice already that we have reach it but so far it's a mental barrier for most traders. For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

Three times, and each time it retraced quite "heavily" but each time was a great dip for traders to buy which makes me believe that they are the same group of traders taking easy 5% profit at 12000 and buying back below 11500.

Ok, pardon my memory, sometimes my brain doesn't work that very well, lol. Yeah, that strategy will work as long as you have a deep pocket. But for us, if you don't have that much money to buy and then pull out in the last minute to make at least 5% profit, it is not advisable.

Quote from: slaman29 on August 15, 2020, 07:40:36 AM

Definitely not for everyone, entering right now could gain you 2 or 3 times 5% in a row but wrong time wipes you out or makes you miss good rally.

Agree, that's why there's no one size fits all strategy here. It's really up to our capacity and risk aversion.

Harlot

hero member

Activity: 1806

Merit: 672

It would be hard for us to go up above the 12,000$ zone especially if the volume is dropping already. See the push/price increase we had from 10k to 12k you will see that the volume isn't increasing which just shows that this isn't really a bull run or at leaat a strong one because the demand for Bitcoin isn't backing up the price increase. Which means that if we don't see the volume improving the next time Bitcoim tests th 12k level we might end up at the same result of it failing hoing up above it.

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: YuginKadoya on August 15, 2020, 01:57:52 PM

If it weren't going to overcome the resistance I guess it is OK as well let's not forget the correction that may happen if it continues to move forward in a fast pace, But for now, savor the price accumulation of Bitcoin even ETH has increased dramatically that I haven't noticed it,

Traders will just think of a good way they can make something good with the current movement, and I think the price range is still in a good place.

No need to rush things up as the market will experienced another corrections in coming days,
but this current movements really showing a good sign to keep your assets or if you have a
good looks from the graph and have proper understanding with the market movements, trying
to do short can also gives some dust profits just keeps on rinsing and make sure to keep
close the chance that it will move much stronger is very possible as well.

YuginKadoya

legendary

Activity: 3038

Merit: 1169

If it weren't going to overcome the resistance I guess it is OK as well let's not forget the correction that may happen if it continues to move forward in a fast pace, But for now, savor the price accumulation of Bitcoin even ETH has increased dramatically that I haven't noticed it,

Traders will just think of a good way they can make something good with the current movement, and I think the price range is still in a good place.

Baofeng

legendary

Activity: 2576

Merit: 1655

Quote from: Jating on August 15, 2020, 05:55:13 AM

Quote from: livingfree on August 15, 2020, 02:40:19 AM

Quote from: Baofeng on August 14, 2020, 05:54:52 PM

Quote from: livingfree on August 14, 2020, 05:16:33 PM

Quote from: Fundamentals Of on August 14, 2020, 09:52:34 AM

[.. snip ..]

I agree, it's not that easy to just jump to $12k without getting any resistance, and that price seems to be the biggest wall. As we have seen several rejections. So again, let's wait, as the price is settling down to $11,700 and maybe a good time to accumulate before moving on. Weekends is coming, I'm not expecting any price movement and wait for Monday to see if we can get to $12k again.

Yes, as always we're still given ample time to accumulate. Those who thought that they've been missing alot, they shouldn't miss it this time.

You reminded me about weekends, oh yes you are right! there are always a lot of happenings every weekend. Just be prepared for it.

On the contrary, it looks like this weekend is very different as the price seems to get over that $11700 and moving to $11800-$11900. So I guess when we are in a bull run those expectations are thrown out of the window because we really don't know what to expect.

And as the market is open 24x7, there could be some scalping during the weekends. And here we go again, seems that $12k is just around.

It's just a minor jump though, so I wouldn't consider it any different from any day specially weekends. If there's a sudden jump to $12k and continue to Monday and the rest of the week, then such be an exception. But right now, it just went on some little pump and the sideways, typical of a weekend activity, at least that's how I see it.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

Quote from: Yaunfitda on August 14, 2020, 03:46:30 AM

So now the resistance of $12k is not yet broken, been twice or thrice already that we have reach it but so far it's a mental barrier for most traders. For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

Three times, and each time it retraced quite "heavily" but each time was a great dip for traders to buy which makes me believe that they are the same group of traders taking easy 5% profit at 12000 and buying back below 11500.

Definitely not for everyone, entering right now could gain you 2 or 3 times 5% in a row but wrong time wipes you out or makes you miss good rally.

Topic: Current Local Roadmap of Bitcoin (Read 270 times)