Is it me or is bitcoin coiling up for another massive move? - page 2.

headingnorth

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Quote from: Don Pedro Dinero on November 17, 2024, 04:36:23 AM

Quote from: PrivacyG on November 16, 2024, 07:59:14 PM

Quote from: mindrust on November 16, 2024, 01:41:47 PM

That chart means nothing. You can't tell anything by looking at it. It also shows only the last 7 days. What you think is going to happen by looking at this? Btc will go up?

You can not take any of these guys seriously. Every time Bitcoin has a positive run, everybody expects and accepts ONLY upward explosions as possibilities. Bitcoin Chart has gone horizontally for 7 days? Explosion coming soon! Significant correction?

When I see a chart like this, I don't just think about the chart, I frame it in the moment we are in. Trump's victory in the USA, with a pro-business, pro-markets and pro-bitcoin government, which has led to big rises post-election and a sideways pause now.

In this context, this chart looks to me like a price consolidation before the attack on $100,000.

Yes context is important and at the moment the context looks extremely positive for bitcoin, with little or no FUD.
I thought bitcoin would drop more than it did after the recent announcement by Fed chair Powell that he "wasn't in a hurry to reduce interest rates."
That announcement sent the stock market down a few percentage points.

Bitcoin followed by going down 3 or 4K on the news, but I was surprised how quickly it recovered to over 90K the next day.
So buyers were taking advantage of the dip. To me that just shows how incredibly strong bitcoin is becoming.

I think some folks wouldn't mind seeing a little more FUD so they can buy the dip.
Of course short sellers always hope for big FUD but they have been getting completely wrecked all year long as bitcoin only keeps going up.

Pandu Geddon

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Quote from: kryptqnick on November 17, 2024, 05:43:58 AM

I think breaking the $100k mark is realistic, while reaching $150k in this bull run is unlikely. The marketcap is just too high for such multiplying effect.

$100k is very close and it can be achieved until the end of the Bull run. previously we talked about October breaking ATH, but it didn't quite work, only at the end of October did we start to see significant Bitcoin movement. and continued amazingly in the middle of this month. I believe this will continue. Bitcoin reaching $100k this year is possible. be patient to achieve it.

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Yes your right but everything is not decided by only chart patterns depend on news and usage also varies

kryptqnick

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Bitcoin was expected to hit the bull run at the end of 2024. I personally talked about it on the forum as well, looking purely at average intervals between bear cycles and bull runs. This time was different, though, as the price was really building up gradually over the course of the whole year. And now we see a significant spike, so clearly a bull run. The price is already wonderful, but of course it's impossible to know how far it will go and how long it will last. I think breaking the $100k mark is realistic, while reaching $150k in this bull run is unlikely. The marketcap is just too high for such multiplying effect.

nakamura12

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Quote from: Felicity_Tide on November 17, 2024, 04:47:49 AM

I think if you want to start using charts to make speculations, then you might want to compare it with any previous chart that must have followed similar pattern, which i believe is what most analyst do when speculating.

That aside, Bitcoin started the bullish movement during the presidential election(right even before it ended), so the train has far left the station even before this thread was created. Of course, we will surely find some people that are currently having FOMO, thereby wanting to jump on a fast moving train.

But regardless, $100K seems to be the main topic on ground now. This $90K price range seems to be it's relaxing point for the now, but we can only hope to see that break.

It seems that the price of btc is at 90k to 91k at this moment. The main topic being discussed is indeed about bitcoin reaching 100k and I think it is possible especially when there will be a lot of people who will accumulate more bitcoin to follow the train if they want to jump in it for a chance to earn profit when it reaches 100k. For me, it is very risky since btc price right now is kinda stable at 90k for now which I have seen not long ago where it goes back to 90 from 91k and then back to 91k.

AsiaHODL

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I am not a fan of TA, but yes the coiling up seems to have been in place from March 2024 until now. So we indeed to have a very solid platform for more upward movement.

The key thing though, that really is all that matters if you hodl, is that we know and understand that there is massive BTC adoption ahead over the next decade.

Felicity_Tide

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Quote from: headingnorth on November 16, 2024, 01:34:11 PM

In my experience, when it has been coiling up like this for days or weeks it can only mean one thing.

I'm no TA expert, but it looks to me like the train is about the leave the station.

~snip

I think if you want to start using charts to make speculations, then you might want to compare it with any previous chart that must have followed similar pattern, which i believe is what most analyst do when speculating.

That aside, Bitcoin started the bullish movement during the presidential election(right even before it ended), so the train has far left the station even before this thread was created. Of course, we will surely find some people that are currently having FOMO, thereby wanting to jump on a fast moving train.

But regardless, $100K seems to be the main topic on ground now. This $90K price range seems to be it's relaxing point for the now, but we can only hope to see that break.

Don Pedro Dinero

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Quote from: PrivacyG on November 16, 2024, 07:59:14 PM

Quote from: mindrust on November 16, 2024, 01:41:47 PM

That chart means nothing. You can't tell anything by looking at it. It also shows only the last 7 days. What you think is going to happen by looking at this? Btc will go up?

You can not take any of these guys seriously. Every time Bitcoin has a positive run, everybody expects and accepts ONLY upward explosions as possibilities. Bitcoin Chart has gone horizontally for 7 days? Explosion coming soon! Significant correction?

When I see a chart like this, I don't just think about the chart, I frame it in the moment we are in. Trump's victory in the USA, with a pro-business, pro-markets and pro-bitcoin government, which has led to big rises post-election and a sideways pause now.

In this context, this chart looks to me like a price consolidation before the attack on $100,000.

Marvell1

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Quote from: bbc.reporter on November 17, 2024, 01:34:29 AM

There is also the speculation that our favorite uncle Gary might also resign from his position as SEC chairman. This also implies that the crackdown on the cryptospace will be ending very soon hehehhehe. The Trump pump is being witnessed hehehe.

Under US law, a new president cannot fire the SEC chairman if he has done nothing wrong, but with the new administration putting so much pressure on Gary to resign, that will happen. There's been a lot of reporting, and I think it's largely true, Gary will be stepping down in the early days of Trump's presidency.

A clearer proof of this is that US exchanges like Kraken and Robinhood have also started relisting altcoins like XRP, ADA...these are altcoins that the SEC has accused of being securities and asked exchanges to delist them. Gary will likely step down and a more crypto-friendly SEC will emerge under Trump.

https://www.coindesk.com/business/2024/11/13/robinhood-adds-sol-pepe-ada-xrp-following-trump-victory/

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Quote from: headingnorth on November 16, 2024, 01:34:11 PM

I'm no TA expert, but it looks to me like the train is about the leave the station.

Everyone has very much known this already when the Donald has taken the victory on the presidential elections in America. The market has become very much bullish because of the procrypto promises that might be fulfilled during the next admimistration.

There is also the speculation that our favorite uncle Gary might also resign from his position as SEC chairman. This also implies that the crackdown on the cryptospace will be ending very soon hehehhehe. The Trump pump is being witnessed hehehe.

pooya87

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Like all round numbers, the $100k resistance is also going to be a pain to break and just like all the previous ones breaking it has the potential to act like a big positive signal to all those who wait on the sidelines to jump in and start buying.
If that happens, what you said comes true, bitcoin would make a "massive move".

The global economy is not changing for the time being (possibly until Trump's inauguration). Interest rates haven't gone back up yet and the energy market seems to be calm (eg. oil is closer to $70 than to $100+), all of which means less recession despite the inflation still being a problem. That combination has always been positive for bitcoin as well...

Catenaccio

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Quote from: Smack That Ace on November 16, 2024, 09:59:17 PM

If you do not rely on technical analysis or any factor and make a prediction then it is just your expectation and there is nothing reliable. I bet it's not just you who have this feeling but most of us have this feeling but it's our greed, nothing more nothing less. The greed index shows that the market is at an extreme level of greed so it is no surprise that most people think that the price of bitcoin will continue to rise higher in the coming days. But to be fair, no one knows what is going on and what we should do is continue to wait if bitcoin has not yet reached our target.

We can not predict the market correctly, we can not time the market accurately, but if you follow very basic principle

"Be fearful when others are greedy, and be greedy when others are fearful", we will be able to avoid FOMO and panic as well as have better ability to buy dips when others are fearful.

Bitcoin Fear and Greed Index Chart.
https://www.bitcoinmagazinepro.com/charts/bitcoin-fear-and-greed-index/

Smack That Ace

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Quote from: headingnorth on November 16, 2024, 01:34:11 PM

In my experience, when it has been coiling up like this for days or weeks it can only mean one thing.

I'm no TA expert, but it looks to me like the train is about the leave the station.

If you do not rely on technical analysis or any factor and make a prediction then it is just your expectation and there is nothing reliable. I bet it's not just you who have this feeling but most of us have this feeling but it's our greed, nothing more nothing less. The greed index shows that the market is at an extreme level of greed so it is no surprise that most people think that the price of bitcoin will continue to rise higher in the coming days. But to be fair, no one knows what is going on and what we should do is continue to wait if bitcoin has not yet reached our target.

X-ray

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remember that the smaller timeframe, the more noise, the chart you mentioned might look bullish but doesn't mean it's also bullish lookout on higher timeframe.
maybe try to analyze the 1d chart as well, the chart on CMC is pretty useless IMO, just showing the price on certain period like for example in your picture, it's just from 10 nov to 16 nov which kinda holds no information at all for technical analysis.

regardless though I'm pretty optimistic that we might see $100k anyway.

tbct_mt2

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Quote from: mindrust on November 16, 2024, 01:41:47 PM

That chart means nothing. You can't tell anything by looking at it. It also shows only the last 7 days. What you think is going to happen by looking at this? Btc will go up? It already went up a lot and I wouldn't be surprised if a massive correction happens before it hits above $100 or even $150k. However, maybe btc will be going for $100k without corrections.

The Pi-cycle top indicator can help to get a signal of a market top, it's a little bit delay of confirmation on a market top but it's useful.

https://www.bitcoinmagazinepro.com/charts/pi-cycle-top-indicator/

You can see that in previous market cycles, after the market top appears for a while, you will see the orange line cross down the green line. When that cross happens, it is a confirmation of market top and if you have yet taken profit previously, it's time for you to wait for a double top, a bounce to take profit and exit the market if you don't want to hold through two bearish years.

tread93

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Quote from: headingnorth on November 16, 2024, 01:34:11 PM

In my experience, when it has been coiling up like this for days or weeks it can only mean one thing.

I'm no TA expert, but it looks to me like the train is about the leave the station.

Heck yeah it’s about to leave the station. Man we are seeing this insane transfer of wealth happening right in front of us and most people don’t even know it! I’m going to have to agree with you that we are probably about to see another huge movement

BitcoinBarrel

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It sure looks that way, right on time too.

PrivacyG

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Quote from: mindrust on November 16, 2024, 01:41:47 PM

That chart means nothing. You can't tell anything by looking at it. It also shows only the last 7 days. What you think is going to happen by looking at this? Btc will go up?

You can not take any of these guys seriously. Every time Bitcoin has a positive run, everybody expects and accepts ONLY upward explosions as possibilities. Bitcoin Chart has gone horizontally for 7 days? Explosion coming soon! Significant correction? Bitcoin should be doubling VERY soon, buy before it gets too late! Has it gone up a little bit? It must be just the beginning of it all!

I mean. Hell. Even good Analysts mess up pretty often although some of them do have a better intuition and pattern recognition. OP is doing pretty much coin flipping with this one.

Zaguru12

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Quote from: headingnorth on November 16, 2024, 01:48:22 PM

Anything can happen, but from what I can tell from the chart another large correction at this time is rather unlikely.

There is going to be a correction but the correction is not something that will be happening now, probably when we get a six figure price hit, base on TA there are many Fair Value gaps left behind due to the impulsive movement during the rally from $75k to the new ATH and we most certainly know that the Market usually comes back to clear this fair value gaps and Aldi some inducement at the back, but for now my prediction is that we have primary support at $87k and that will be hard not to hold for now maybe until we get to the six figures before the corrections.

Quote from: seoincorporation on November 16, 2024, 02:54:15 PM

If a big whale decide to sell all his coins then a crash will come. And I can see that coming for sure someone will want to take profit and walk away. But the question is, how hard the crash will be when that happen?

Due to the large volume of bitcoin trades daily it will definitely take something huge for someone to sell and cause a dump, bitcoin doesn’t seems to have such Whales impact, even institutions that sell off and cause dip do not do it directly with their coins but they announce this sales before it happens and the community then react to the news which causes either pump or dump, so it is not directly the whale sell off

GeorgeJohn

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Quote from: AprilioMP on November 16, 2024, 01:53:36 PM

If it is a train, the departure has long been awaited.
And if you seriously pay attention to the price chart, you can find that Bitcoin is still not willing to go down since the price reaches $ 81,000 and makes circumstances like being tired to rise to rise.
More than $ 93,000 has been achieved and shortly after that dropped a little to $ 86,000. Still not ready to go down, the price returns to $ 91,000.

One sentence from me, are you ready?

it is obvious that they chat is not indicating anything serious concerning the decrease of Bitcoin but the thing is that we all know that Bitcoin have a fluctuating point which does every tendency for the price of Bitcoin we see today going up to the extent of hitting to 100k also to be seen at 75k or 65k, let's chat not convince us because it is not today that bitcoin increases and later decrease in price, but at this point is not showing to sign of falling.

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