No Resistance From $30K-$40K? - page 5.

Hippocrypto

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Quote from: Twinkledoe on December 31, 2020, 04:39:21 PM

Quote from: teosanru on December 31, 2020, 03:56:41 PM

I think most people don't know the concept of Pivot points. Supports and resistances are horizontal lines formulated on charts which are made by joining at least the previous two reversal points. This means there has to be some kind of trading in that area to create a pivot point in that area. Bitcoin never crossed 20K in the past which means we have no information about these points whatsoever. Any targets in such situations are taken on basis of other indicators and strategies like Elliot waves or something. The best we can have is the upward part of a trendline however the type of steep movement we have had recently I doubt even a trendline would be suffice to justify targets in such a situation.

Bitcoin market most of the time doesn't follow any kind of technical analysis applied to its chart. Sometimes, it has its own trend and will not follow any kind of formula or of that sort. We will only make some conclusion once the peak is over. But right now, let's enjoy the ride to 30k and beyond...

Normally, when peak has been reached more more conclusive ideas will about to commence. We don't know what the future really brings but continue to enjoy every opportunity given by btc. Analysis was only our reference by the time market saturates and when monitoring it's real time frequency.

Twinkledoe

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Quote from: teosanru on December 31, 2020, 03:56:41 PM

I think most people don't know the concept of Pivot points. Supports and resistances are horizontal lines formulated on charts which are made by joining at least the previous two reversal points. This means there has to be some kind of trading in that area to create a pivot point in that area. Bitcoin never crossed 20K in the past which means we have no information about these points whatsoever. Any targets in such situations are taken on basis of other indicators and strategies like Elliot waves or something. The best we can have is the upward part of a trendline however the type of steep movement we have had recently I doubt even a trendline would be suffice to justify targets in such a situation.

Bitcoin market most of the time doesn't follow any kind of technical analysis applied to its chart. Sometimes, it has its own trend and will not follow any kind of formula or of that sort. We will only make some conclusion once the peak is over. But right now, let's enjoy the ride to 30k and beyond...

DarkDays

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Quote from: skyroamjanetismine on December 30, 2020, 08:28:09 PM

I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

What do you think?

He was sighting how $30K is a psychology barrier. You guys probably know who I'm talking about it.

You're right! There is no barrier after 30K so if Bitcoin manages to break through the million selling orders that are now in its way to reach yet another ATH and push through 30K, then there is no reason why BTC won't continue to go further.

We just need that much more buying power, a few more pushes and we'll all be happy seeing BTC flourish to values +30K.

Come on, stop selling BTC when if you stay on you could get so much more...

teosanru

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I think most people don't know the concept of Pivot points. Supports and resistances are horizontal lines formulated on charts which are made by joining at least the previous two reversal points. This means there has to be some kind of trading in that area to create a pivot point in that area. Bitcoin never crossed 20K in the past which means we have no information about these points whatsoever. Any targets in such situations are taken on basis of other indicators and strategies like Elliot waves or something. The best we can have is the upward part of a trendline however the type of steep movement we have had recently I doubt even a trendline would be suffice to justify targets in such a situation.

Oceat

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Quote from: passwordnow on December 31, 2020, 01:17:50 PM

It's pure speculation just like what we're speculating. It could or not happen. That's all you need to remember when you hear someone say his insights about the market. I have no idea who that youtuber is but you can give us a hint of who that man is. What everyone is aiming now is to see it half of $100k and then it will go $100k. That seems to be high but that's another speculation just like what that man is saying in his video. Just think how much you're selling and buy at low and sell in high profits.

I agree since Bitcoin didn't reach those price yet so for now it's all pure speculation and I don't think Bitcoin would reach $100k next year because that's way too far from reality yet. Bitcoin is barely breaking from its new ATH now so I don't think this world happen in 2021 not unless of course, if there's a big investors join in the market that would literally pump Bitcoin to $50k or more.

so98nn

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Quote from: exstasie on December 30, 2020, 09:26:20 PM

Quote from: skyroamjanetismine on December 30, 2020, 08:28:09 PM

[..]

Nonsense. There is no known resistance between $30K and $40K because the market has never tested those levels. It's no man's land.
[...]

First of all watching someone over youtube and believing them on financial stuff is bad idea. Market research is always indeed needed.

Resistance on the other hand completely depends on state of the bitcoin which includes it's price, market cap etc. Correctly mentioned by exstasie that it's no man's land since btc never reached that value. It would turn your prediction into speculation instinct which doesnt make sense at all.

People have hard time finding the resistance for the current known value, it's almost impossible to find it for futuristic value.

RapTarX

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I don't know who you are talking about but it seems he is right. Everythings depends on traders mind. If we check back, we exepcted to hit $30 f it once hit 25; which is going to be happened and after that; another FOMO will be created which will lead the price to higher and I guess after that we will see correction/bearish season for a long time again.

bekti3

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I think there will be resistance even if the bitcoin price hits $ 40,000. there are resting points where the volume cannot bear the weight. Say the current price of bitcoin is $ 40,000, then there will be a drop of up to $35,000. Wouldn't that be a possibility to touch resistance? based on the period determined when doing the analysis technique.

passwordnow

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It's pure speculation just like what we're speculating. It could or not happen. That's all you need to remember when you hear someone say his insights about the market. I have no idea who that youtuber is but you can give us a hint of who that man is. What everyone is aiming now is to see it half of $100k and then it will go $100k. That seems to be high but that's another speculation just like what that man is saying in his video. Just think how much you're selling and buy at low and sell in high profits.

LimLims

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Quote from: skyroamjanetismine on December 30, 2020, 08:28:09 PM

I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

What do you think?

He was sighting how $30K is a psychology barrier. You guys probably know who I'm talking about it.

The someone is might just assuming.
But we still can’t say anything. According to me BTC will start crashing after it reaches 30k USD and will constantly keep the value after then in between 20k to 22k.
But this is just mine’s estimation and prediction.
The real price the market and the traders will decide.
Let’s see what happens in the future and when will the price of Bitcoin rising will stop.

Reid

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Who?

Psychological barrier huh? Well, that could also stop buyers from doing it.
I predicted last week that it won't go higher than $25k after 2020.
I was wrong. These guys analyzing Bitcoin price are also humans and they don't know how much the purchasing power is out there.
So I think we will just have to see but I doubt there will be no resistance at an expensive price.

CryptopreneurBrainboss

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You need to stop listening to this self proclaim professional traders (youtubers), most of them have no knowledge about what they're saying but simply making video that'll interest more audiences so as to burst their revenue as a result of increased of their audiences (viewers). The hottest topic now in the industry is the potential next stop for bitcoin as it's quite certain we'll be reaching the $30k trading milestone anytime soon.

You'll begin to see different speculation pumping up, many without any TA backing but just some random dudes airing his opinion like the one you just watch. Never believe any of those and to avoid regret, resist the argue of visiting those platform to watch the video before they convince you into thinking they're making actual sense (correct predictions).

Just as OcTradism has highlighted, we can't be certain until we test those levels. Although imo there's no way their won't be a resistance form $30k to $40k.

OcTradism

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Quote from: skyroamjanetismine on December 30, 2020, 08:28:09 PM

I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

A price (price A) is only called as resistance if it is reached at least one time. After that, price will move up or down around that price and if the temp price is higher than price A, it is considered as support. If a temp price is lower than price A, it is considered as resistance.

There is no resistance higher than $29,300 that is the all time high of bitcoin 3 hours ago. Now, you can call the cap at $29,300 is a resistance.

exstasie

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Quote from: skyroamjanetismine on December 30, 2020, 08:28:09 PM

I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

What do you think?

He was sighting how $30K is a psychology barrier. You guys probably know who I'm talking about it.

Nonsense. There is no known resistance between $30K and $40K because the market has never tested those levels. It's no man's land.

That doesn't mean supply won't flood in at any given price, whether that is $31K or $36.5K, causing a significant top and mid-term correction. It just makes it fundamentally difficult to predict when and where that will happen.

According to the round numbers theory, $40K would be the next predictable resistance after $30K. I'll give him that. But where the next unpredictable resistance lies......that is less straightforward and I suspect it lies somewhere between $30K and $40K. Wink

skyroamjanetismine

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I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

What do you think?

He was sighting how $30K is a psychology barrier. You guys probably know who I'm talking about it.

Topic: No Resistance From $30K-$40K? - page 5. (Read 1136 times)