Thats odd number you have got up there. Why is it 9.7K? and not 10K?
I am not too techie so just asking if there is any way to calculate the resistance level for the same. I am pretty sure that fundamentals says that BTC will keep rising no matter what happens in the next update. The coin has shown us potential before and its always been on one goal, just to rise. I dont think clearing up the 9.7K level would be that difficult for the bitcoin. So I am sure this will happen before the end of next week. Its breaking bad!!
Topic: Next resistance at 9.7k. What are your thoughts on May movement? - page 2. (Read 288 times)
April 29, 2018, 09:18:19 AM
Hopefully, we can clear hit $9700, I had invested a little on altcoins because I think the market is back to normal, there is no FUD again after we crashed at the beginning of the year. I lose my investment and now I'm brought back again, please pray together so we can reach it easily 
. I hate losing my investment
. I hate losing my investment 
I think we're in a consolidation phase before the next spike in the price. I believe we're going to test 9.7k again over the next couple of weeks, once we go past that figure, we might enter a new Bitcoin uptrend. And just like @Pursuer said earlier, I also think FOMO will kick in once we reach 10k, simply because the 'psychological barrier' that a 5-figure price represents to newcomers and investors will be broken and that could be just the trigger that we needed to start the next Bitcoin rally.
In the market you can see the emotional phases combined with the stage we're in from the top in December all the way down towards the bottom in February. i think Uptrend has no major resistance till 10200 $ , then it has a pullback till around 8500$.
Yes I think it would go even higher up to $12k before hitting big resistancethere goes my chance on getting cheap BTC below $7k
support seems pushing upward $8k+ nowbut in cryto world, anything can happen
a bit FUD and unexplainable FOMO could affect marketif suddenly major exchange got hacked or went scam, price would free fall back to $5000
or lower
In the market you can see the emotional phases combined with the stage we're in from the top in December all the way down towards the bottom in February. i think Uptrend has no major resistance till 10200 $ , then it has a pullback till around 8500$.
Yes I think it would go even higher up to $12k before hitting big resistancethere goes my chance on getting cheap BTC below $7k
support seems pushing upward $8k+ nowbut in cryto world, anything can happen
a bit FUD and unexplainable FOMO could affect marketif suddenly major exchange got hacked or went scam, price would free fall back to $5000
or lower
I think we will pass that one easily. I mean BTC has been tested many times and with that test it was around 19K last year. So its no big thing that we will have any trouble crossing the resistance level that is currently going on. Off course the bull run depends on the different news around the world. As far as we can see currently, there seems no more bad news coming out of the market so the up surge is sure one. Currently people will keep buying and selling the normal way but it wont hamper market in negative way at all. So yeah May month seem to be that sling shot to 11K level.
the discussions about this being a bull "trap" ended days ago as soon as price showed a huge buy support and a very solid rise behind it. this is considered as the starting point of the bull run now.
I agree with the rest of the things you said except that I think we may see a bigger rise after the $10k resistance was broken because of some short term FOMO buying that can take place after that.
regarding altcoins I am currently staying away because bitcoin is rising and it can cause a lot of instability among altcoins and I don't want to lose money.
I agree with the rest of the things you said except that I think we may see a bigger rise after the $10k resistance was broken because of some short term FOMO buying that can take place after that.
regarding altcoins I am currently staying away because bitcoin is rising and it can cause a lot of instability among altcoins and I don't want to lose money.
I agree that the "bull-trap" scenario is a bit unlikely now but still it is worth mentioning since it was a hot topic. I hope that you are right and that FOMO might even drag the price past the first resistance at 11-12k since that is what happened last time. But since it happened last time I think the movements will be a bit "calmer" and more controlled. So I think we are going to encounter resistance and have more retracements even if we go past 10k.
I am still ready in moving a bit to the ALTs since if 10k is broken and a steady bull-trend starts then most ALTs have 50-80% discounts from ATH and could have some nice gains. But I will just be moving to the ALTs that I have researched and that have stayed active, shown progress during the bear market.
In the market you can see the emotional phases combined with the stage we're in from the top in December all the way down towards the bottom in February. i think Uptrend has no major resistance till 10200 $ , then it has a pullback till around 8500$.
the discussions about this being a bull "trap" ended days ago as soon as price showed a huge buy support and a very solid rise behind it. this is considered as the starting point of the bull run now.
I agree with the rest of the things you said except that I think we may see a bigger rise after the $10k resistance was broken because of some short term FOMO buying that can take place after that.
regarding altcoins I am currently staying away because bitcoin is rising and it can cause a lot of instability among altcoins and I don't want to lose money.
I agree with the rest of the things you said except that I think we may see a bigger rise after the $10k resistance was broken because of some short term FOMO buying that can take place after that.
regarding altcoins I am currently staying away because bitcoin is rising and it can cause a lot of instability among altcoins and I don't want to lose money.
There is a lot of discussions going on if this is a bull-run, a bull-trap or consolidation. I don't think anyone really knows but maybe together we could figure some things out. Here are my thoughts:
I think we are in a short-term consolidation between 8.7-9.7k where these two levels will determine a more middle-term trend on where BTC will go. If 9.7k is broken there is not much resistance until 11-12k so then we can expect a nice 15-20% gain. On the other hand if we go down below 8.7k then I think next level of resistance isn't until around 7.2-5k which is around 15-20% decrease. So the benefits/risks on either side are about equal so I am avoiding trading this until we can get a clear signal either way and I am also avoiding doing to much movement in my ALTs since this will be determined by BCT.
What are your thoughts?
- Next major resistance for BTC is at 9700 USD. Already testing this once and had a drastic drop
- Turned around at 8700 USD and have been steadily climbing since back over 9k. This shows continued strength
I think we are in a short-term consolidation between 8.7-9.7k where these two levels will determine a more middle-term trend on where BTC will go. If 9.7k is broken there is not much resistance until 11-12k so then we can expect a nice 15-20% gain. On the other hand if we go down below 8.7k then I think next level of resistance isn't until around 7.2-5k which is around 15-20% decrease. So the benefits/risks on either side are about equal so I am avoiding trading this until we can get a clear signal either way and I am also avoiding doing to much movement in my ALTs since this will be determined by BCT.
What are your thoughts?
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