Topic: Head and shoulder pattern is on the way, New all-time high is coming. - page 2. (Read 361 times)
February 27, 2018, 11:40:15 AM
I think that we will see the resistance just under 12k broken in the next few days but I don't think we will move to a new ATH anytime soon. I think the market is going to keep experiencing volatility where bottoms are tested on numerous occasions. When the price reached 20k there was a huge influx of users and money and it will be hard to recover to that price again without that same influx of new money.
February 27, 2018, 10:16:44 AM
Everyone likes to predict the bitcoin price, but until now (correct me if I am wrong), I didn't find anyone who can accurately predict the price of bitcoin...
I think, for the moment being, the price will keep on fluctuating around the $10k mark.
I think, for the moment being, the price will keep on fluctuating around the $10k mark.
February 27, 2018, 10:12:45 AM
Price forms a short-term bottom after multi-testing the support at $9,300, though I believe a short-term uptrend will be likely, concerns about the resistance by $9,800 - $10,000 are also mentioned.
However, BTC manages to move above the significant level with the help of several bullish news and steps back to that area several times after the breakout, confirming the effectiveness of breakout. We expect the bounce to continue.
After the surge with expansion in volumes yesterday, price is stopped by the strong resistance without support from volumes today, indicating that bulls are still observing and waiting around current level.
If the head and shoulder pattern can be formed effectively, the possibility for another round of bounce can’t be excluded. To accomplish that, however, price must remain above the resistance at $11,800.
Now that the short-term bounce has been started, our strategy should turn into bullish as well. Basically, bounce will continue in the short term with resistance at $11,800 and $12,500, positions can be added at the same time.
Original by Kuang Ren, translated by AICoin Jami.
Feel free to leave your comments below
However, BTC manages to move above the significant level with the help of several bullish news and steps back to that area several times after the breakout, confirming the effectiveness of breakout. We expect the bounce to continue.
After the surge with expansion in volumes yesterday, price is stopped by the strong resistance without support from volumes today, indicating that bulls are still observing and waiting around current level.
If the head and shoulder pattern can be formed effectively, the possibility for another round of bounce can’t be excluded. To accomplish that, however, price must remain above the resistance at $11,800.
Now that the short-term bounce has been started, our strategy should turn into bullish as well. Basically, bounce will continue in the short term with resistance at $11,800 and $12,500, positions can be added at the same time.
Original by Kuang Ren, translated by AICoin Jami.
Feel free to leave your comments below
Do you have any chart based on your analyze? Honestly is glad to see your thought.
But I think, it's better to add also your chart. So, we can see the "big forecast" together.
February 27, 2018, 09:51:19 AM
It's too soon to say BTC will reach a new ATH just yet, it's only few days of uptrend. This very well might be just like last time reach till 11-12k and then drop back to 9-10k.
February 27, 2018, 08:48:20 AM
I don't think any all time high is coming any time soon. Will stay the same or drop. Too much optimism isn't good. It leads people to lose money.
He based it on a pattern after all. I must say that it is quite useful to determine and predict the next price movements for stocks but in bitcoin's case it is useless and this is why I will advice you to not use it in speculating bitcoin's prices. I agree with you that all time will not come soon. Nevertheless, if it were to come true then many of us will be happy about it. For now, the best action is to watch market closely as the next movements can determine upcoming price changes. February 27, 2018, 07:53:44 AM
I don't think any all time high is coming any time soon. Will stay the same or drop. Too much optimism isn't good. It leads people to lose money.
February 27, 2018, 07:14:42 AM
Price forms a short-term bottom after multi-testing the support at $9,300, though I believe a short-term uptrend will be likely, concerns about the resistance by $9,800 - $10,000 are also mentioned.
However, BTC manages to move above the significant level with the help of several bullish news and steps back to that area several times after the breakout, confirming the effectiveness of breakout. We expect the bounce to continue.
After the surge with expansion in volumes yesterday, price is stopped by the strong resistance without support from volumes today, indicating that bulls are still observing and waiting around current level.
If the head and shoulder pattern can be formed effectively, the possibility for another round of bounce can’t be excluded. To accomplish that, however, price must remain above the resistance at $11,800.
Now that the short-term bounce has been started, our strategy should turn into bullish as well. Basically, bounce will continue in the short term with resistance at $11,800 and $12,500, positions can be added at the same time.
Original by Kuang Ren, translated by AICoin Jami.
Feel free to leave your comments below
However, BTC manages to move above the significant level with the help of several bullish news and steps back to that area several times after the breakout, confirming the effectiveness of breakout. We expect the bounce to continue.
After the surge with expansion in volumes yesterday, price is stopped by the strong resistance without support from volumes today, indicating that bulls are still observing and waiting around current level.
If the head and shoulder pattern can be formed effectively, the possibility for another round of bounce can’t be excluded. To accomplish that, however, price must remain above the resistance at $11,800.
Now that the short-term bounce has been started, our strategy should turn into bullish as well. Basically, bounce will continue in the short term with resistance at $11,800 and $12,500, positions can be added at the same time.
Original by Kuang Ren, translated by AICoin Jami.
Feel free to leave your comments below
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