Topic: Is Bitcoin about to see a strong upward move - Analyst (Read 514 times)

To date, there have indeed been quite a lot of predictions about the further scenario of the development of events in the cryptocurrency market and about the prospects of Bitcoin in the near future.  But for some reason I did not see any facts that would convince me of the fidelity of all these assumptions.  But I am very serious about the expectation of the next halving in 2020, since all previous halving gave a really very good impetus to the rise in the price of bitcoin.

Well resistance is $9500, however, we have seen that is was broken obviously, because it didn't hold up and continue on a downward spiral at $8500. Others says it is due to corona virus, but technical analyst point to a correction that is due because it seems that bitcoin is on the oversold mark.

Anyway, seem that the market has somewhat settled down between $8500-$8700, been bouncing on that price this weekend. Of course prior to halving we might see some uptick in March but I'm expecting a sell off in April though, just my opinion.

It's about the time before we see bitcoin will get a strong upward move, and maybe it will happen before the halving. We already break $10k barrier, and although right now, the bitcoin price is going down again I am sure that everything will be back to $10k. But I don't think that we will see race towards $10,500 in a short time because bitcoin needs to break $10k again before it can reach the other high price. The analyst can say anything they want, but they need to see if the market can increase or not because they can only make a prediction, but they don't know when it will happen. It seems, we will see another downtrend again in this weeks but who knows, the situations will be changed.

Been reading a lot about this types of prediction and all of them are telling about the $10.5k mark which need to be destroyed first.
Do they have some kind of a group or something?
It's difficult to believe that this people are not on the circle of friends since most of them are almost the same and also the explanation.

Anyway, I doubt it will happen very soon.
The resistance before was like 9k or something but still it went forward.
But as we go near the halving more hype will come.

possibilities are indeed but still there cannot be proven,whales can control the market specially if they Bond together and do the same thing at once?
though i also believe that if all the small holders will come to one action?and do buy more bitcoins?we can prevent manipulators to continue dictating what market price is.
yes they are the reason,we have no big issue now still the market full down again so obviously Whales made another movements.

The market situation right now is much questionable compare to the year 2017 hype since for the year 2018 and first quarter of 2019 we suffer a huge market upset where many people got their wallet drained hard for the long days streak of bearish market but hopefully those investors recover from their losses today since if majority of investors will came especially those who earned from 2017 we might gonna have a strong support and that could lead for huge bull run.

It only happens if we could see huge strong support coming from us and most especially from investors. This is a vital thing that we need to consider but the current market situation tells something that we aren't of that strong support. The last 2017 Bullrun is obviously happening because of the hypes made by whales but this year, it looks different and hypes aren't visible at this time. The only hope that we look for now to make the market trend going high is halving and people are having positive insights for this event.

Unfortunately though we've seen some retracement again, going down as low as $9300 as of this writing. So we need to wait further for that strong upward to $10k again. I don't know what is the cause of this pullback, maybe we have been played around by the manipulators again or this is some effect on us from stock market which is also down as this point.

Actually you have a point for something's but I'm still optimistic to see some new greatness coming and although many people think that we can't go back to $20k or in another ATH still I'm quite positive that we can see a good figures, remember Bitcoin halving brought new ATH from the past and maybe it could bring a good shape this year.

I did not say that it has to be a sharp move and in your last sentence you agree with me that some rise will happen, so why all the early contradicting if it seems that we agree on everything here. I do not expect a new ATH, but I do expect it to return near the previous ath of 20K this year. Maybe it will stop at 15 and maybe at 19k but the market is looking really positive and the halving pressure will increase in Spring. 

I wouldn't be so sure, don't start to celebrate too soon. Of course that Bitcoin price will rise again but it doesn't necessary need to happen that we'll see real high and sharp rise.
I know that expectations from halving are very high but the final effect might turn out not so favourable. I don't have too big expectations form halving and I wouldn't like to be disappointed at the end.
Some price rise will happen bur we"ll have corrections too.

This is more like a accumulation phase which I understand why there would be falls. Let me explain it in layman's terms. The price of bitcoin is normally lets say 1 to 1, for every 1 bitcoin sold, there is 1 bitcoin bought, unless something major happens lets say that is the reality and no price movement ever happens in that situation.

However, sometimes there are reasons why people would buy bitcoin, such as halving we gonna have, that will result with people buying but if they buy all at once they may lose money from the ups and downs, so what do they do? They buy small by small way before halving happens which increases the price slowly instead of all of a sudden and they profit for the reasons I will mention.

There are also people who bought earlier and want to sell, the higher the price goes the more people there are that wants to sell, which drops the price eventually and when they sold all of theirs, the price continues to go back up, and because of that small fall, the whole reason why buyers don't buy all at once, so they can buy when it goes down as well.

This year we will see the market going upwards. From beginning this year, the market was moving upwards without any major correction. Correction is now taking place in the market. As a result, whales are accumulating  more bitcoin, and those who are not true believers of bitcoin are selling and leaving the market. Shakeout. So after this correction, the market is likely to move upwards. Because bitcoin halving is coming.

Actually the starting of the year for crypto was really amazing, and now it's going good too. Analyst are noting that the crypto currency has been able to flash some bullish signals, also the ongoing battle between the buyers and sellers will likely to result in another major movement. Also the halving could play a key role in Bitcoins price chart.

I believe we will experience an upwards move this year. It can happen before or after the halving because in the last 10 years we have seen pumps before and dumps after and pumps before and dumps after, but there was some decent volatility every time. There are no reasons to think that this year will be different because the previous bear market was very similar to all other bear markets of Bitcoin in the way it ended (with a low above the previous ATH, a higher low).

There's no assurance still at this moment. We can assume for an uprise.movement but to expect a bull run right at this moment, is I think blurry. We are anticipating the occurence of halving but despite of the expectations of huge uprise movement after halving, expectations are still expectations and it simply means that everything is not assured yet unless what is expected comes to reality.
Investing would be a good idea but there's one thing that could pull back an investor; waiting for a little longer. Some investors are waiting for a downfall before investing in order to earn bigger profit once the market price of Bitcoin starts to increase.
Not too early. The price is starting to recover and we may expect for a bigger backdrop before the market price, again, break records. We may expect for its price to beat its all time high market value but I suggest to not be sure of something due to the assumptions of the majority. We must align our expectations with the reality, and that reality has something to do with market volatility.

That's very obvious! and this is all as a result of the incoming bitcoin halving. Experienced bitcoin investors know this and would try to shake the market a little in order to accumulate as many bitcoins as they can at a very cheap price waiting for this move. That's why they intentionally dump the price then purchase more again lol. It's

in bitcoin it usually isn't just one reason for a certain move. instead it is combination of a bunch of reasons. for example this current struggle to break $11k resistance is in my opinion partly manipulation, partly profit taking, partly a lot of FUD plus greed in investors thinking there is a better lower price for them to enter. and that is keeping the price at this level right now.

This is not a revelation as halving is yet to happen and we will see the price of BTCitcoin breaking the resistance point at some point this year or next year and then as we usually see after the halving the price usually tries to break the all time high valuation and how long it will test and break those higher resistance levels is to be seen as the stakes are different this time around, either way expecting the market to move higher by next year.

The latest dump maybe due to the exchange Binancr which is currently down last night. Imagine a top exchange and one of the biggest volume market has been halt for a while of course it can affect on the bitcoin price. We already felt the tremor of price hike as btc keep revolving around 10k. Even its continue to struggle breaking out 11k it price never go far 10k.


Another prime reason is possibly the manipulation of them. Whales are keep distracting the market and create confusion so market cant fully break any resistance. They wanted to play with people's money and earn from it.

Starting from January the price movement of Bitcoin has been steadily acquiring new high records for the year 2020 but at the current situation, there is a sudden fall in its price. Still, this could be an indication for a bullish run this year as the price of Bitcoin falls down due to the one last correction this year.

Yes ofc I do think that you don't need to be an analyst to see the whole bull move coming up when the Halving is already approaching us so soon and at the same time one can confirm the surge using the prices of Bitcoins , how it's changing .
It's been years since we saw that much growth that might give us a good price by the end of the day, the potential of bitcoins is blooming .
One should start stalking up the bitcoins if they haven't started yet .

Of course, nowadays there will be more bull calls, bitcoin has made a huge leap and everyone thinks now is a great time to buy and everyone suggests a buy call, however reality is not that simple, sure bitcoin could still go up and that possibility is on the table right now, to be so much hyped about bitcoin could however turn out to be hurtful for some investors.

I understand that people like to look at the future and that is a good thing in finances most of the time, however when it comes to products that already increased in the price, you usually do not expect another increase, you expect it to stay the same or even go down to satisfied the markets needs and expectations. All I am trying to say is that, do not expect bitcoin to go up, be happy if it does, but do not be sad if it doesn't.

I do not believe in opinions of self proclaimed analysts in the internet because it is just mere opinions, I only believe and follow my own analysis. There is a strong upward move that happened in this past days but still the RSI of bitcoin is not yet overbought. Those strong upward move are most likely happen above RSI 70 which is not yet happening. I expect that it will happen in this month after the current pullback.

Didn't we already felt the upward move from the past couple of days or weeks?
But I guess there is nothing wrong to expect another one since we are having a halving this year and there could still be much more to expect before this year ends.
The price of crypto is too hard to predict we couldn't tell what could happen tomorrow.

What is with $10,500+?
I have seen one thread also which almost have the same number.
Are you following the same man/analyst? (as you call them)

It will get out of that number and more. No doubt about that. This might be just movements to make people panic.

The price has been climbing seriously. I am not the type that checks price regularly, but I checked around last two weeks or so and the price was around $9000 and then I checked after some days and was surprised when I saw that the price climbed up to $10,000+ and reached $10,500 and still going. And yes it did drop back to $10,200 but still did a rebound to $10,300.

The way I am seeing it, it’s likely that we might see another bull run that is far much bigger than the last one we had. The bulls are defending the price aggressively, and this shows that the bears has been defeated.

Not really. A strong upward move from $8k to $10k does not necessarily mean that more levels of increase is already confirmed. Lots of resistance levels are still along the way so it wouldn't surprise me much if we go back to 8k any time soon. While the trading volume on exchanges rose significantly, the question is how would the momentum pan out in the long run, or even until the halving arrives?

Kek, more resistance levels to break. It's like every time BTC breaks something that analysts say it must break to achieve a bull run, they then say afterward that, "nope, there's one more level to breakthrough".  Sides, a strong upward move? Isn't the fact that after only a single month, BTC has already moved up from $7k to $10k? 

It's kinda amusing how you seem to attach power levels to buyers and sellers in various countries lmao. No single group or what could possibly determine the market price of BTC. Hell, if it were like that, then the system Satoshi thought up of would have never seen this much attention in just a decade.

The demand on bitcoin as of now is continuously rising because of the event that is coming this April-May which is the halving. They are now trying to invest on bitcoin and hold it until the halving takes effect. They know that there is a higher chance that the money that they have invested will become doubled or tripled when that time comes.

The way Bitcoin price chart looks now, all is pointing to a massive bull run unless anything changes in the next few weeks. The halving will also drive attention which will be additional support for the bull run to take effect

Price of Bitcoin is increasing for straight two months from $6600 to $10300. That is a 56% price increase. This for me is a strong upward move already happened. We are closer to a correction right now then to a two more months of a bull market.

It is too early to draw any conclusions about the growth of bitcoin. There are no obvious prerequisites for this movement. Moreover, I'm sure that those who “know what is happening” with the market don't know much more than most people do.

Lol.  The quality of this analysis might have something to do with this:


Anyway, I'd say this is probably old news at this point because bitcoin seems to be on the runway just waiting to take off--and there's already been a "strong upward move".  The only question I have is how high it's going to go and how long it'll continue.  The best time to have been buying bitcoin was when it was crashing below $7k, but I'd also say that now wouldn't be a bad time either--you just might not make as much profit, but you'll still make a profit anyway.

Yes, the market looks very encouraging again but I'll not celebrate too early now. I like what's happening but we need not to let our emotions pull us down. The known quote of Warren Buffett is applicable in these days because everyone is starting to predict higher positions.

If that's the case, telling that we're entering a "long term" bull run. Nobody knows how long the bull run will stay and this won't guarantee the new comers to have exact and good position as we have.

I think fluctuations are mainly caused by the whales, we shouldn't forget that a few people hold a large portion of the existing BTC... these guys move the market...
We are always looking for natural reasons but most times I think the movement is determined by whales (large old time miners)

woowww , a very good analysis , who determines this surge ? america , china , Because of the war in the Middle East, people are looking for a safe haven for their money, I think bitcoin is secure enough, I think you saw the price increase in Iran, Can I say fluctuations are for these?

People are writing comments that are just unbelivable. How could there be ware between buyers and sellers, such opinion just shows basic ignorance about regulations in the market and what are its main principles.

No matter the current positive trends I don't expect to see some high and sharp price rise, it's more likely that price will continue to fluctuate and some corrections are possible too.

We have already seen a great increase upwards and I don't doubt that same could still happen a little bit more. When the price is going up, people always call for a bear run because they are either afraid that the good days of bull will run out and that will result with them going down and losing money (people can't believe making profits most of them time) or they simply missed the opportunity of making profits so they are wishing the price would go down and no one else makes profit as well.

Remember just last April? We have moved from freaking $3.5k to $13.8k, it didn't went down during those times, why would it go down now? It won't. Of course, there is always a chance of price going down but that doesn't mean that it has to, it is just one side of the possibility, we should focus on the other side.

Perhaps it is the war of those who want to achieve a power of 200 billion dollars.
Who has bitcoin power ? China ? America ? Roosevelt ?
who will be the winner in a war of whales
I think bitcoin is the weapon of the future
Didn't you like an my article?

Battle between buyers and sellers?!?This is funny.So the author of this article thinks that the market is basically a war? If there was really a battle between buyers and sellers,then nobody would buy and sell and the market will be dead.This analysis looks pretty incompetent,if you ask me.I hope that bitcoin will face a strong and stable upward price movement,but I won't sit all day in front of the charts praying for the chart line to move up,because it will signal some big long term price increase.

Crypto analyst and founder of Texas West Capital, Scott Melker, is not convinced that Bitcoin (BTC) has firmly shifted out of its brutal crypto winter to start a new long-term bull trend.

According to Melker, BTC must cross one more crucial level of resistance at $10,584 to confirm a trend reversal. BTC last touched that level back in October of 2019.

“Delete everything from your chart. There’s only one line that matters now. A break of this line would be the first macro higher high since the 14K top. Movement above and a flip to support would effectively end the ‘bear market’ argument. Higher high = confirmed bull trend.”

Source: Scott Melker/Twitter

analyst:-this-highly-bullish-signal-suggests-bitcoin-is-about-to-see-a-strong-upward-movement
ZenLedger

Analyst: this highly bullish signal suggests Bitcoin is about to see a strong upward movement

Bitcoin has continued pushing past the heavy resistance it has been navigating through over the past few days, with BTC’s recent break above $10,000 allowing it to slowly grind higher as many major altcoins begin building major momentum.

BTC’s climb today has marked a slight extension of the uptrend that the cryptocurrency has been caught within for the past five weeks, and it does appear to be facing heightened resistance as it inches towards $10,500.

Now, analysts are noting that the cryptocurrency has been able to flash some highly bullish technical signals, suggesting that it is about to see an explosive movement that could send it surging significantly higher.

Bitcoin races towards $10,500 as bulls continue gaining strength

At the time of writing, Bitcoin is trading up just under one percent at its current price of $10,360, which marks a slight climb from its daily lows of $10,200 that was set yesterday.

In the near-term, it does appear that it faces some resistance around $10,500, as this is where it has experienced multiple micro-rejections throughout the past day.

It is also highly probable that the crypto will incur some turbulence, as the ongoing battle between buyers and sellers is likely to result in another major movement.

Big Cheds, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that he is currently eyeing a major upside movement due to a bullish ascending triangle that BTC is currently caught within.

Bitcoin, currently ranked #1 by market cap, is down 0.88% over the past 24 hours. BTC has a market cap of $185.8B with a 24 hour volume of $44.86B.
Source: Reddit article