Topic: Short term bullish run is now over, and it was most likely a failed rally (Read 1190 times)
March 02, 2020, 01:11:29 PM
In as much as I believe strongly in the trend line, I disagree with most of the views that bitcoin is going down. The road leading to the next halving look unpredictable except the economic laws of demand and supply that has never failed in any economic situation. Bitcoin has been surprising many of us from the beginning and it is going to do that again.
March 02, 2020, 12:36:40 PM
It's funny to speculate about BTC, but it´s all good images and some theories trying to make sense
We don´t know exactly what´s going to happen with the prices, a bull run can start today for example and achieve 15k USD, and BTC can goes to zero too, so it´s only speculation with these candles etc
I believe we are not going down to 7k again, a lot of people want to hold their BTC because of the halving
We don´t know exactly what´s going to happen with the prices, a bull run can start today for example and achieve 15k USD, and BTC can goes to zero too, so it´s only speculation with these candles etc
I believe we are not going down to 7k again, a lot of people want to hold their BTC because of the halving
March 02, 2020, 12:03:31 PM
Now, I am a bullish person when it comes down to bitcoin prices and I do understand people who are calling for a bear run and all that but I have to say one thing to them. If you think bitcoin going down before or during the halving historically and the price will go down, is that also equal to bitcoin going down after months later as well?
I mean if you think historical stuff will repeat itself, bitcoin drops in price couple weeks before and it will also continue like that for a while yet after couple of months it starts to go up and in a year it will peak to a new all time high, if you think historical data is correct and will repeat itself you either believe bitcoin will go up as well as going down or you believe none of that, there is no way to think one will happen and other won't.
I mean if you think historical stuff will repeat itself, bitcoin drops in price couple weeks before and it will also continue like that for a while yet after couple of months it starts to go up and in a year it will peak to a new all time high, if you think historical data is correct and will repeat itself you either believe bitcoin will go up as well as going down or you believe none of that, there is no way to think one will happen and other won't.
March 02, 2020, 01:28:53 AM
Bitcoin history at the moment will halving always decreased by almost 30%, likely if my prediction is correct, then Bitcoin will drop in this March, could have Bitcoin dropped at $7800 before halving, and the Altcoin season will take over
I also predict that the price will go down before halving. I think March will be red in the charts. In my opinion, it is quite likely that the price will drop even to $5k by the end of March. Then it will be a good start for stabilization and maybe the beginning of the alt season.
February 29, 2020, 06:29:27 PM
We couldn't really ignore every possibilities concerning on what might happen in the future. This could be the case as the price of Bitcoin will continue to decrease this month of March. But also, as the dump would continue to be the standing of Bitcoin on the market, this could also mean to be just a correction before the actual Bull run. Especially, when the people is expecting the halving event that would figuratively slice the supply of Bitcoin in half that would greatly impact the future of the coin as its supply gradually decreases overtime from the current rewarding. In addition, possible support for Bitcoin might come as its price decreases in the present which makes it a good investment for the future.
February 28, 2020, 08:01:25 PM
@pixie85. Your thinking about the effects of the corona virus might be underestimated and limited. I reckon that you should read more news on what the wider effects are on the economy around the world.
Asia is beginning to feel the negative effects. Italy and Spain might be the next countries.
Coronavirus is drying up the supply chains of Southeast Asia’s factories
Even as China pushes factories to reopen, the ripple effects of Covid-19 have already proved inescapable for manufacturers outside the country. Particularly hard hit is Southeast Asia, where industries that depend on China for raw materials are being hobbled as their supplies dry up.
In Cambodia, the government today warned about 200 factories making mostly clothing will probably have to slow or cease production entirely due to a lack of raw materials. China—the world’s biggest textile exporter—provides more than 60% of the materials feeding Cambodia’s garment and textile factories, according to the country’s association of garment manufacturers. Prime Minister Hun Sen has publicly urged the Chinese ambassador to send more materials by ship and plane so the industry won’t have to shut down.
Vietnam is facing similar situations in its garment industry and beyond, with China being a major supplier of steel and components for electronics. “Car, electronics and phone manufacturers are experiencing difficulty in acquiring supplies and materials due to disruptions from the virus,” an agency representing Vietnam’s manufacturing sector told Reuters. Phone maker Samsung, which manufactures in Vietnam, is among the companies facing a serious production slowdown. Even the furniture industry, which gets component parts from China, is under duress.
Read in full https://qz.com/1809436/coronavirus-is-hobbling-factories-in-cambodia-vietnam-myanmar/
Asia is beginning to feel the negative effects. Italy and Spain might be the next countries.
Coronavirus is drying up the supply chains of Southeast Asia’s factories
Even as China pushes factories to reopen, the ripple effects of Covid-19 have already proved inescapable for manufacturers outside the country. Particularly hard hit is Southeast Asia, where industries that depend on China for raw materials are being hobbled as their supplies dry up.
In Cambodia, the government today warned about 200 factories making mostly clothing will probably have to slow or cease production entirely due to a lack of raw materials. China—the world’s biggest textile exporter—provides more than 60% of the materials feeding Cambodia’s garment and textile factories, according to the country’s association of garment manufacturers. Prime Minister Hun Sen has publicly urged the Chinese ambassador to send more materials by ship and plane so the industry won’t have to shut down.
Vietnam is facing similar situations in its garment industry and beyond, with China being a major supplier of steel and components for electronics. “Car, electronics and phone manufacturers are experiencing difficulty in acquiring supplies and materials due to disruptions from the virus,” an agency representing Vietnam’s manufacturing sector told Reuters. Phone maker Samsung, which manufactures in Vietnam, is among the companies facing a serious production slowdown. Even the furniture industry, which gets component parts from China, is under duress.
Read in full https://qz.com/1809436/coronavirus-is-hobbling-factories-in-cambodia-vietnam-myanmar/
February 27, 2020, 07:59:55 PM
There are many experts telling everyone that the corona virus and its effect on the global market was the cause bitcoin's dump. I reckon that it might be also these whales who were pumping for an ETF approval that did it.
The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).
In a filing posted Wednesday, the securities regulator wrote the New York-based Wilshire Phoenix had not proven the bitcoin (BTC) market is sufficiently resistant to market manipulation. Wilshire, a newcomer to the financial services industry, first applied for the ETF last summer with NYSE Arca.
Read in full https://www.coindesk.com/sec-rejects-latest-bitcoin-etf-bid
The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).
In a filing posted Wednesday, the securities regulator wrote the New York-based Wilshire Phoenix had not proven the bitcoin (BTC) market is sufficiently resistant to market manipulation. Wilshire, a newcomer to the financial services industry, first applied for the ETF last summer with NYSE Arca.
Read in full https://www.coindesk.com/sec-rejects-latest-bitcoin-etf-bid
Sure...
The "experts" and their "deadly" virus that managed to kill 60 people outside China in a timespan of a month while many times more die of cancer and other things every day.
Only smart people know and understand the reality of this virus. If you're already sick or senile and contract it you'll probably die but not because of the virus but because you cannot handle high fever and stress. Any other type of flu would have the same effect on you.
Bitcoin crashes every 2-3 months and it doesn't need a stupid reason for it.
February 27, 2020, 07:10:31 PM
@exstasie. It was the sheep traders that were trading on ETF news on 2018. I am talking about the wealthy people close to the Wilshire Phoenix investment group who might have begun buying bitcon as the day of the SEC's filing came closer.
February 27, 2020, 02:41:13 AM
There are many experts telling everyone that the corona virus and its effect on the global market was the cause bitcoin's dump.
The BTCUSD market was already in a bearish correction, subject to downward pressure. The corona virus FUD and associated stock market selloff was the perfect excuse for a BTC selloff, which was probably coming anyway. It wasn't the cause but it could have helped trigger the dump. Markets have a way of panicking together.
I reckon that it might be also these whales who were pumping for an ETF approval that did it.
The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).
The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).
Nobody trades on ETF news anymore. What is this, 2018?
February 27, 2020, 12:37:52 AM
Now we are seeing the same picture that was a month ago, in January of this year. On February 19, the price of bitcoin rose more than ten thousand dollars, and today it fell to $ 8,717. It is unlikely to be called a failed rally again. This is a common manifestation of bitcoin price volatility. There will be many more such ups and downs in the price of bitcoin. I think that now there is a general tendency for the market to grow, however, price growth is constrained by throwing a lot of bitcoins on the cryptocurrency market for sale. Each howl has a situation with the need for cash, so people use the situation with the growth of the market. As a rule, this is a delay in price growth for several days.
February 26, 2020, 09:38:42 PM
There are many experts telling everyone that the corona virus and its effect on the global market was the cause bitcoin's dump. I reckon that it might be also these whales who were pumping for an ETF approval that did it.
The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).
In a filing posted Wednesday, the securities regulator wrote the New York-based Wilshire Phoenix had not proven the bitcoin (BTC) market is sufficiently resistant to market manipulation. Wilshire, a newcomer to the financial services industry, first applied for the ETF last summer with NYSE Arca.
Read in full https://www.coindesk.com/sec-rejects-latest-bitcoin-etf-bid
The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix's bid for a bitcoin-based exchange-traded fund (ETF).
In a filing posted Wednesday, the securities regulator wrote the New York-based Wilshire Phoenix had not proven the bitcoin (BTC) market is sufficiently resistant to market manipulation. Wilshire, a newcomer to the financial services industry, first applied for the ETF last summer with NYSE Arca.
Read in full https://www.coindesk.com/sec-rejects-latest-bitcoin-etf-bid
February 26, 2020, 07:24:35 PM
A picture is worth a thousand words
Now, my advice: look at the price line since October 25 when the price was at 10.4k USD, the trend was never bullish. However it was very possible to make nice money (started several threads to recommend buying at 6.5kish in November and December).
Important price next: 8.5k, we go below and we see 7k most likely again.
Other important prices:
-6.4k: the obvious one, strong support for now but will it hold? I think it will not.
-10.5k: major resistance (stronger than 9.2k), breaking above 10.5k would mean a nice bullish run but very unlikely for this year.
-13.5K-14k: the price everyone is waiting for, if we break above we will see a new all time high (but not likely either for 2020 in my opinion).
In the short term, 7k is likely to be seen (again). Sadly no bullish indicator for 2020. Not yet.
I expect to see the high 7s again soon as well. I dont think 2020 is the year. We are going to see a lot of people trigger sells when they get a little over break even from their 2017 top buys. A lot of rekdness to get over before we see I nice new run
February 26, 2020, 04:17:13 PM
Its not a failure for the buyers, anyone in the world wants to buy it for a lower price then it might be otherwise. If we're stuck on pure price speculation or bias to owning and wanting to sell then thats on us but the entire market doesnt revolve around one mindset. I'm glad thats true because it would fall apart if we only had one kind of person involved with BTC, lucky there any many more then we can name so theres a tug of war always to price direction.
The point about the chart on OP I was going to say is the trend was not simple, it was dual band with a higher rate and a lower rate which I think qualifies it as a channel and we rose further even after it declined in its rate of gain. Eventually it broke all measures and set sideways for a while now down and we're almost back to OP price again around 8500 to 9000 band for the moment its 200DMA
The point about the chart on OP I was going to say is the trend was not simple, it was dual band with a higher rate and a lower rate which I think qualifies it as a channel and we rose further even after it declined in its rate of gain. Eventually it broke all measures and set sideways for a while now down and we're almost back to OP price again around 8500 to 9000 band for the moment its 200DMA
February 26, 2020, 11:23:40 AM
I really do not understand how people could call a 20%+ increase a "failed rally" I mean we are seriously talking about going from $7k to $9k now, why would it be a failed rally when it rallied? Plus, it has been just 2 months since 2020 started and we are already outperforming top investment options in the world in bitcoin, there are other coins who increased even higher than bitcoin as well, how is this a bad thing, how could anyone try to make this sound like it is something bad?
If you do not like bitcoin or you want to get rich very quickly, go find something else, that type of person is not needed here and you are only hurting us, this is a project that suppose to save the world from the greedy and people who are greedy coming here is literally exact opposite of what bitcoin is about.
If you do not like bitcoin or you want to get rich very quickly, go find something else, that type of person is not needed here and you are only hurting us, this is a project that suppose to save the world from the greedy and people who are greedy coming here is literally exact opposite of what bitcoin is about.
February 26, 2020, 02:29:03 AM
Just bumping this to say I was wrong with this chart and prediction.
I saw a ceiling around 9k, it was my personal target and that's why I sold, but I didn't see 10.5k coming. I was surprised by this move.
I believe it's important to be humble and acknowledge when you were wrong. Stay humble and learn everyday.
Best of luck!
I saw a ceiling around 9k, it was my personal target and that's why I sold, but I didn't see 10.5k coming. I was surprised by this move.
I believe it's important to be humble and acknowledge when you were wrong. Stay humble and learn everyday.
Best of luck!
January 28, 2020, 12:12:40 AM
While you are spreading FUD and call it a failed rally, Bitcoin continued to break resistance and shoot high.
Bitcoin has successfully shattered $9,000. We are now on our way to a 5-digit price. There is only success in sight for Bitcoin.
Bitcoin has successfully shattered $9,000. We are now on our way to a 5-digit price. There is only success in sight for Bitcoin.
January 27, 2020, 11:42:18 PM
The bulls still have a lot of work to do to prove this case. It's still all lower highs, we're still below the 200-day MA, and it's too early to say there's an uptrend on the monthly yet. We definitely need to see a few more bullish confirmations in the coming weeks before we can celebrate and declare the bears wrong.
Bears have A LOT more to prove than bulls at this point. We made at HL at 6500, broke through a major trendline, are 3 months from halving (before which we always get a "buy the rumor" pump) and are in a 10 year BULL TREND. You act like I'm a perma bear predicting triple digits.
Establishing the first higher high in 6+ months and breaking above the 200-day MA are very basic conventional confirmations that the downtrend is actually over. I'm just trying to avoid counting my chickens before they're hatched.
That doesn't mean I'm bearish: https://bitcointalk.org/index.php?topic=5196072.40
January 27, 2020, 09:56:39 PM
What happened in Oct 25-26 was a sudden pump within 24 hours, not a bullish run. But take a look at the bigger picture, bitcoin still on the bullish run compared to the early phase of last year at $3900 and this year bitcoin price starts at $7200. It's not a short term but always perceives in the long term, as now the price gradually increases over $8K and the trend in the market still trying to break the $10K level.
agree with you the bitcoin price should be strong at level $10.000 , the halving will come in this year, im sure the price will still strong and price target at $10k
Hopefully our predictions would gather a positive vibes right now, because it's been so long that cryptocurrency asset had been stagnant and not moving including other coins that became shitty. As we all know, crypto has been a huge part on our lives since we prefer to hold even if there was no growing market.
I dreamed that one day there's a great news that surprise us in order regain our previous losses from trading.
January 27, 2020, 09:37:33 PM
What happened in Oct 25-26 was a sudden pump within 24 hours, not a bullish run. But take a look at the bigger picture, bitcoin still on the bullish run compared to the early phase of last year at $3900 and this year bitcoin price starts at $7200. It's not a short term but always perceives in the long term, as now the price gradually increases over $8K and the trend in the market still trying to break the $10K level.
agree with you the bitcoin price should be strong at level $10.000 , the halving will come in this year, im sure the price will still strong and price target at $10k
January 27, 2020, 08:53:51 PM
Long term we are searching for the bottom pricing which many presume will be a fair bit higher then 2019 lows. That gives us alot of space to reach downwards even while in a bull trend.
I think we form lows in a day but then it must confirm on a week even monthly bar close maybe twice before the market gives away and finds higher to be the path of least resistance.
See this is the weekly bar view, from my pov its quite reasonable to go back and touch 8000 and be totally bullish
I think we form lows in a day but then it must confirm on a week even monthly bar close maybe twice before the market gives away and finds higher to be the path of least resistance.
See this is the weekly bar view, from my pov its quite reasonable to go back and touch 8000 and be totally bullish
We just broke D200 again. Everyday bear hopium just keeps losing bricks in its facade.
January 27, 2020, 07:56:31 PM
*skip*
Very simple and on the monthly chart, it is clear we have a broader term bullish trend.
Very simple and on the monthly chart, it is clear we have a broader term bullish trend.
Let's close that monthly candle first.
The bulls still have a lot of work to do to prove this case. It's still all lower highs, we're still below the 200-day MA, and it's too early to say there's an uptrend on the monthly yet. We definitely need to see a few more bullish confirmations in the coming weeks before we can celebrate and declare the bears wrong.
Bears have A LOT more to prove than bulls at this point. We made at HL at 6500, broke through a major trendline, are 3 months from halving (before which we always get a "buy the rumor" pump) and are in a 10 year BULL TREND.
Bears literally have to do things that have never occurred in the history of BTC to confirm a down trend continuation.
Yeah, sorry exstasie but I'm totally on windjc side here. I bought everything I could in the $8.5->$6.7 drop in November in anticipation of the forming bull and the large support around the $6k levels. The thing is, many bears(and normal investors!) were selling way too early on the flashy run up from $3.5/4k to $13.8k below or around the $6k area, just because many many people were thinking that the resistance will be super strong based on the multiple times we bounced of it in the 2018 bear. And how wrong they were (not excluding me, I'm still biting my ass for selling too much below $6k). Even Masterluc was so very wrong (https://www.tradingview.com/chart/BTCUSD/Ybv5PkjN-Almost-at-resistance/).
That is why I didn't expect the market to give them a chance to redo their mistake. Of course we're still in unclear waters yet and the monthly candle needs a few more day. But I think the current price direction favors a bullish outlook.
January 27, 2020, 06:18:01 AM
What happened in Oct 25-26 was a sudden pump within 24 hours, not a bullish run. But take a look at the bigger picture, bitcoin still on the bullish run compared to the early phase of last year at $3900 and this year bitcoin price starts at $7200. It's not a short term but always perceives in the long term, as now the price gradually increases over $8K and the trend in the market still trying to break the $10K level.
January 27, 2020, 05:37:42 AM
Long term we are searching for the bottom pricing which many presume will be a fair bit higher then 2019 lows. That gives us alot of space to reach downwards even while in a bull trend.
I think we form lows in a day but then it must confirm on a week even monthly bar close maybe twice before the market gives away and finds higher to be the path of least resistance.
See this is the weekly bar view, from my pov its quite reasonable to go back and touch 8000 and be totally bullish
I think we form lows in a day but then it must confirm on a week even monthly bar close maybe twice before the market gives away and finds higher to be the path of least resistance.
See this is the weekly bar view, from my pov its quite reasonable to go back and touch 8000 and be totally bullish
January 27, 2020, 03:32:53 AM
20% increase is no sign of a bull spring ? You better don't tell that to traditional investors.
One of the reason investors like "Long Only" funds is they are trading the market based on a broader trend. Yes trend is much different than momentum and it is important to understand this.
In order to spot a broader term trend we look at the structure of shorter term trends, and determine whether the market is bullish or bearish . Very simple and on the monthly chart, it is clear we have a broader term bullish trend.
One of the reason investors like "Long Only" funds is they are trading the market based on a broader trend. Yes trend is much different than momentum and it is important to understand this.
In order to spot a broader term trend we look at the structure of shorter term trends, and determine whether the market is bullish or bearish . Very simple and on the monthly chart, it is clear we have a broader term bullish trend.
Let's close that monthly candle first.
The bulls still have a lot of work to do to prove this case. It's still all lower highs, we're still below the 200-day MA, and it's too early to say there's an uptrend on the monthly yet. We definitely need to see a few more bullish confirmations in the coming weeks before we can celebrate and declare the bears wrong.
Bears have A LOT more to prove than bulls at this point. We made at HL at 6500, broke through a major trendline, are 3 months from halving (before which we always get a "buy the rumor" pump) and are in a 10 year BULL TREND.
Bears literally have to do things that have never occurred in the history of BTC to confirm a down trend continuation.
January 26, 2020, 05:35:40 PM
20% increase is no sign of a bull spring ? You better don't tell that to traditional investors.
One of the reason investors like "Long Only" funds is they are trading the market based on a broader trend. Yes trend is much different than momentum and it is important to understand this.
In order to spot a broader term trend we look at the structure of shorter term trends, and determine whether the market is bullish or bearish . Very simple and on the monthly chart, it is clear we have a broader term bullish trend.
One of the reason investors like "Long Only" funds is they are trading the market based on a broader trend. Yes trend is much different than momentum and it is important to understand this.
In order to spot a broader term trend we look at the structure of shorter term trends, and determine whether the market is bullish or bearish . Very simple and on the monthly chart, it is clear we have a broader term bullish trend.
Let's close that monthly candle first.
The bulls still have a lot of work to do to prove this case. It's still all lower highs, we're still below the 200-day MA, and it's too early to say there's an uptrend on the monthly yet. We definitely need to see a few more bullish confirmations in the coming weeks before we can celebrate and declare the bears wrong.
January 26, 2020, 11:18:35 AM
Yes, there is no sign for the bull run in this year yet, maybe halving can change the scenario but still, no one is sure about it. I thought this time Bitcoin price will hoit 10K USD but the race stopped at 9100 USD and then it dumped by 1000 USD already. I don't think this is because of the Chinese Lunar year as the Coronavirus attacked there so there is no party in China at this moment, so, the dump was normal too. I hope everything will turn into positive again.
20% increase is no sign of a bull spring ? You better don't tell that to traditional investors.
One of the reason investors like "Long Only" funds is they are trading the market based on a broader trend. Yes trend is much different than momentum and it is important to understand this.
In order to spot a broader term trend we look at the structure of shorter term trends, and determine whether the market is bullish or bearish . Very simple and on the monthly chart, it is clear we have a broader term bullish trend .
January 26, 2020, 09:50:18 AM
Yes, there is no sign for the bull run in this year yet, maybe halving can change the scenario but still, no one is sure about it. I thought this time Bitcoin price will hoit 10K USD but the race stopped at 9100 USD and then it dumped by 1000 USD already. I don't think this is because of the Chinese Lunar year as the Coronavirus attacked there so there is no party in China at this moment, so, the dump was normal too. I hope everything will turn into positive again.
January 26, 2020, 09:43:56 AM
Bitcoin prices have dropped to $8500 maybe there will not be bullish again? I do not have a technical analysis of this bitcoin because bitcoin is difficult to guess in the future price.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
Seems like bull run might not happen, but we can expect a massive change after 2 or 3 months from now. Halving is a big hope for rise in crypto currency let's see how things go, I agree the rally has broken but there will be a change in few more days the price will increase for sure in few more days.
January 26, 2020, 08:44:46 AM
Sad but true image. 
Rally has broken and price may decline from here. But I don't agree with your $8.5K mark. It is evident from the chart that break point will be between $7800-8000. As far as price is above $8K, market may move sideways for next few days and may result in new rally if someone inject buy orders into the market.
Some are saying that the increase in the market value of Bitcoin is caused by the tension between US and Iran and the moment it cooled down, the market value of Bitcoin stopped increasing. I would say that it is just coincidence and the market itself is just volatile. The markrt price is now falling, and the bottomline is what would investors do? Will they sell at this point to cut further losses? Or They would stick with the plan of holding? I would say trust onto the process and be patient. Backdrops after an uprise is not new in this industry.Rally has broken and price may decline from here. But I don't agree with your $8.5K mark. It is evident from the chart that break point will be between $7800-8000. As far as price is above $8K, market may move sideways for next few days and may result in new rally if someone inject buy orders into the market.
Yes, you are right. The relation between Bitcoin price increase and tension between US and Iran is just coincidental. There is no reason why the issue between these two countries will effect price in any way.
As I was saying, as far as price remain above $8K then we don't have to worry because by reading chart we can see that the psychological barrier for traders is $7850. If price goes below that, traders will start panicking and dump their coins which will cause further fall in value. But market resisted around $8300 which is now having positive impact on price and price is once again up by 1.5% today.
January 26, 2020, 06:53:40 AM
Studying the typical 60 day cycles in past uptrends I would say a 15% pullback from $9200 is probable.
$7800 in mid february?
$7800 in mid february?
It's possible in mid february but every speculations and expectations in the market today is very bullish the chances for that to happen is very slim. If you're looking for a good price to buy im afraid the price today is the best suitable for accumulating more. I will not look for that $7,800 in february because it might be too late and fomo.
Good point. $8200 a couple of days ago may well be the higher low.
January 26, 2020, 06:41:12 AM
Studying the typical 60 day cycles in past uptrends I would say a 15% pullback from $9200 is probable.
$7800 in mid february?
$7800 in mid february?
It's possible in mid february but every speculations and expectations in the market today is very bullish the chances for that to happen is very slim. If you're looking for a good price to buy im afraid the price today is the best suitable for accumulating more. I will not look for that $7,800 in february because it might be too late and fomo.
January 26, 2020, 06:34:38 AM
Studying the typical 60 day cycles in past uptrends I would say a 15% pullback from $9200 is probable.
$7800 in mid february?
$7800 in mid february?
January 26, 2020, 06:06:47 AM
A picture is worth a thousand words
Now, my advice: look at the price line since October 25 when the price was at 10.4k USD, the trend was never bullish. However it was very possible to make nice money (started several threads to recommend buying at 6.5kish in November and December).
Important price next: 8.5k, we go below and we see 7k most likely again.
Sad but true image.
Rally has broken and price may decline from here. But I don't agree with your $8.5K mark. It is evident from the chart that break point will be between $7800-8000. As far as price is above $8K, market may move sideways for next few days and may result in new rally if someone inject buy orders into the market.
January 26, 2020, 03:35:35 AM
Lol.
Last time I checked bitcoin was in a 10 year bull trend from .01$ to $8300.
Yeah go right ahead and sell your coins.
Noobs.
Last time I checked bitcoin was in a 10 year bull trend from .01$ to $8300.
Yeah go right ahead and sell your coins.
Noobs.
January 26, 2020, 02:18:02 AM
The price breakdown in its previous support, the 20 MA is now also resisting at the price. If the 20 MA will strikes down and become support then the market will likely to go up again. I do not think that it is just a short term bullish. The bitcoin just lose momentum but if there is a massive volume again, then we will see upward movement in the chart. What happened is just a reset so we should not panic because of that.
January 25, 2020, 12:57:20 PM
Important price next: 8.5k, we go below and we see 7k most likely again.
Sad but true image.
Rally has broken and price may decline from here. But I don't agree with your $8.5K mark. It is evident from the chart that break point will be between $7800-8000. As far as price is above $8K, market may move sideways for next few days and may result in new rally if someone inject buy orders into the market.
Im not really fan on precisely following trend lines or indicators specially if theres a pattern on where the trend tends to break.Yes, we can presume but theres only two way either it would rally up
or would dump down.So for now, im preparing my stash for possible accumulation if ever it would crash.
It looks like I was right about the market. The price is moving between the mark of $8300 and $8600. Actually it is good for market to remain in this position for next few days. Stability around $8400 will ensure that another confirmed rally will come before the end of January. Another interesting thing is the sharp decline in the market volume. Daily trade volume for Bitcoin has declining since last week and came down to $20B from $32B. It also indicates that we gonna see trade reversal.
January 23, 2020, 06:58:43 AM
The price have got out of the red alignment zone:
However, market sentiment is neutral, with a score of 49 in the CFGI. No sign of a bull run yet.
However, market sentiment is neutral, with a score of 49 in the CFGI. No sign of a bull run yet.
January 23, 2020, 06:53:05 AM
The time frame you are using is too small, try using a weekly or monthly time frame. You will see a correction pattern from a bullish, weekly time frame I think is enough to see price movements in 2020. There have been 3x price rejections in November 2019, December 2019, and January 2020 in the $ 7000 area and I believe $ 7000 is the strongest support area for now. Then there is a price correction from the previous bearish trend which has reached more than 50%, is it possible it's just a correction? In my opinion it is not a price correction, but a reversal of the trend that began on January 3, 2020. 
The chart can be interpreted in several ways. I do think what's happening is just a correction leading to march, and this correction won't be sustained to consider it as a trend reversal. People would consider a dip a good chance to prepare for the halving aftermath. Though this is just my take on what's happening and it's basically just as good as yours or anyone else's.
January 23, 2020, 06:45:03 AM
Bitcoin prices have dropped to $8500 maybe there will not be bullish again? I do not have a technical analysis of this bitcoin because bitcoin is difficult to guess in the future price.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
If we will look on the chart for the whole month, then I could say yes but narrowing it down, looking more closely I don't we are just going back down at $7,000 way easy, we are just bouncing back at $8,600 and it seems solid at such point. So we might be able to see $9,000 once again or luckily even touch $10,000 sooner. However when it drops, I don't think it will stop at 8.6k or even 7k, which I fear the most.
I think that further corrections will happen and 7000$ isn't that bad. To expect now the constant growth of price isn't that easy and no matter how 9000$ looks close to my opinion that boundary will be hard to cross. For a while we might have price fluctuations similar like now and the price will probably stay somwhere in the current range.
but if there were any more corrections on the way then they would have started already. not to mention that there isn't anything left to correct! price went up to $9k and then saw a little correction where it came back to $8.5k again and that was the only correction needed. anything more is not going to be a correction but an unreasonable drop.
January 23, 2020, 06:12:25 AM
it doesn't matter if the 1W trend fails or the rally fails because there is still time in the next few weeks, why not wait and relax for a moment, I'm happy how the whales play with prices and charts, when everything will explode suddenly, I just use 1D trend in this picture, sorry I'm just a beginner, hopefully it doesn't drop below $ 7800
https://www.tradingview.com/x/ZOr3KVis/
https://www.tradingview.com/x/ZOr3KVis/
January 23, 2020, 02:25:56 AM
The time frame you are using is too small, try using a weekly or monthly time frame. You will see a correction pattern from a bullish, weekly time frame I think is enough to see price movements in 2020. There have been 3x price rejections in November 2019, December 2019, and January 2020 in the $ 7000 area and I believe $ 7000 is the strongest support area for now. Then there is a price correction from the previous bearish trend which has reached more than 50%, is it possible it's just a correction? In my opinion it is not a price correction, but a reversal of the trend that began on January 3, 2020.
January 22, 2020, 11:16:18 PM
There are correct assumptions here and there are wrong ones as well. The reality is, if we go under 8.5k we could totally go under 8k as well, that is not wrong and that could very well happen, however at the same time if we go up over 9.4k we could also see 11k as well, there is nothing stopping us all the way to 10.8k and that means we will most likely break 10k along with 9.4k.
Maybe it will go down, maybe it will go up, there is no reason to think bullish run is over, just because one correction doesn't equal to everything being doomed at all, sure its not good that it happened but I feel like this will make sure we have a smoother sailing towards high as well. Lets just wait before we jump to any conclusions, at least we should see some small movements before we decide.
Maybe it will go down, maybe it will go up, there is no reason to think bullish run is over, just because one correction doesn't equal to everything being doomed at all, sure its not good that it happened but I feel like this will make sure we have a smoother sailing towards high as well. Lets just wait before we jump to any conclusions, at least we should see some small movements before we decide.
January 22, 2020, 09:21:03 PM
~snip~
If we will look on the chart for the whole month, then I could say yes but narrowing it down, looking more closely I don't we are just going back down at $7,000 way easy, we are just bouncing back at $8,600 and it seems solid at such point. So we might be able to see $9,000 once again or luckily even touch $10,000 sooner. However when it drops, I don't think it will stop at 8.6k or even 7k, which I fear the most.
Bitcoin just touched the $9,000 level a few days ago and now it's stabilizing at around $8,600. So, if Bitcoin continue to drop below $8,000 level does that mean we're going to be afraid? I think you should not be afraid of, people who's frequently looking at the market are usually those who is holding for long term. Price movements are normal. The most important thing to keep in mind is to hit the price target before selling.
January 22, 2020, 06:51:33 PM
~snip~
If we will look on the chart for the whole month, then I could say yes but narrowing it down, looking more closely I don't we are just going back down at $7,000 way easy, we are just bouncing back at $8,600 and it seems solid at such point. So we might be able to see $9,000 once again or luckily even touch $10,000 sooner. However when it drops, I don't think it will stop at 8.6k or even 7k, which I fear the most.
Bitcoin just touched the $9,000 level a few days ago and now it's stabilizing at around $8,600. So, if Bitcoin continue to drop below $8,000 level does that mean we're going to be afraid? I think you should not be afraid of, people who's frequently looking at the market are usually those who is holding for long term. Price movements are normal. The most important thing to keep in mind is to hit the price target before selling.
January 22, 2020, 06:42:20 PM
Its a reasonable observation but there's never just one trend or idea driving a market. I agree its likely we've played this one out of immediate energy, this is just about the short term trades and swings to price not the grander moves in Bitcoin. Just plain volatility can move us to 10k imo though thats not so frequently happening.
We've perhaps lost the majority of momentum occurring after trading back above 50 day average but its probably a case of waiting for price to level out before we rise again. I do wonder if a reset can bring us back down to 8000 for the July trend break but I'm not expecting much more then that in terms of failure before it rebuilds and reattempts the 200 day average which admittedly is one of the most commonly watched indicators.
We've perhaps lost the majority of momentum occurring after trading back above 50 day average but its probably a case of waiting for price to level out before we rise again. I do wonder if a reset can bring us back down to 8000 for the July trend break but I'm not expecting much more then that in terms of failure before it rebuilds and reattempts the 200 day average which admittedly is one of the most commonly watched indicators.
January 22, 2020, 06:09:15 PM
OP, your chart is worth a thousand spits and not words.
I am not sorry for my words because you are just seeing a 6H chart and to define history, you will need to consider higher range timeframe in your charts before outlining a possible break downwards moving us into the bearish situation. I do not see BTC to be coming below $7500 during 2020 at the least, so mark my words if you want to.
I hope so I am not sorry for my words because you are just seeing a 6H chart and to define history, you will need to consider higher range timeframe in your charts before outlining a possible break downwards moving us into the bearish situation. I do not see BTC to be coming below $7500 during 2020 at the least, so mark my words if you want to.
January 22, 2020, 05:41:08 PM
OP, your chart is worth a thousand spits and not words.
I am not sorry for my words because you are just seeing a 6H chart and to define history, you will need to consider higher range timeframe in your charts before outlining a possible break downwards moving us into the bearish situation. I do not see BTC to be coming below $7500 during 2020 at the least, so mark my words if you want to.
I am not sorry for my words because you are just seeing a 6H chart and to define history, you will need to consider higher range timeframe in your charts before outlining a possible break downwards moving us into the bearish situation. I do not see BTC to be coming below $7500 during 2020 at the least, so mark my words if you want to.
January 22, 2020, 02:02:00 PM
Bitcoin prices have dropped to $8500 maybe there will not be bullish again? I do not have a technical analysis of this bitcoin because bitcoin is difficult to guess in the future price.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
If we will look on the chart for the whole month, then I could say yes but narrowing it down, looking more closely I don't we are just going back down at $7,000 way easy, we are just bouncing back at $8,600 and it seems solid at such point. So we might be able to see $9,000 once again or luckily even touch $10,000 sooner. However when it drops, I don't think it will stop at 8.6k or even 7k, which I fear the most.
I think that further corrections will happen and 7000$ isn't that bad. To expect now the constant growth of price isn't that easy and no matter how 9000$ looks close to my opinion that boundary will be hard to cross. For a while we might have price fluctuations similar like now and the price will probably stay somwhere in the current range.
January 22, 2020, 01:06:38 PM
Bitcoin prices have dropped to $8500 maybe there will not be bullish again? I do not have a technical analysis of this bitcoin because bitcoin is difficult to guess in the future price.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
If we will look on the chart for the whole month, then I could say yes but narrowing it down, looking more closely I don't we are just going back down at $7,000 way easy, we are just bouncing back at $8,600 and it seems solid at such point. So we might be able to see $9,000 once again or luckily even touch $10,000 sooner. However when it drops, I don't think it will stop at 8.6k or even 7k, which I fear the most.
January 22, 2020, 12:49:04 PM
I thought right now that we are supposed to see under $8,500 again because it's been $8,500+ but my speculation and expectation didn't go through. The price suddenly rose and managed to stand again to $8,700.
This is also what I thought initially, when I see the price going down in the last couple of days.
I'd say it's all over again, but then again, the price remains along the $8600-$8700 very surprising and I will say that we are still in the bullish trend, at least. So this might continue up until the end of the month, the bullishness of the market, the sentiments of the investors and confidence are still here.
Because they are only convinced that we're going bullish if the price never stops dropping. That's their basis to say that the bull has ended and it's their opinion regards to the market.
January 22, 2020, 12:34:30 PM
*skip*
Other important prices:
-6.4k: the obvious one, strong support for now but will it hold? I think it will not.
-10.5k: major resistance (stronger than 9.2k), breaking above 10.5k would mean a nice bullish run but very unlikely for this year.
-13.5K-14k: the price everyone is waiting for, if we break above we will see a new all time high (but not likely either for 2020 in my opinion).
In the short term, 7k is likely to be seen (again). Sadly no bullish indicator for 2020. Not yet.
Other important prices:
-6.4k: the obvious one, strong support for now but will it hold? I think it will not.
-10.5k: major resistance (stronger than 9.2k), breaking above 10.5k would mean a nice bullish run but very unlikely for this year.
-13.5K-14k: the price everyone is waiting for, if we break above we will see a new all time high (but not likely either for 2020 in my opinion).
In the short term, 7k is likely to be seen (again). Sadly no bullish indicator for 2020. Not yet.
I would like to comment on your price points:
-6.4k: strong buyers support and smart money accumulation - I agree
-10.5k: possible high resistance level, I agree, but could be smashed rather easily. Just look at the 2019 bull run.
-13.5k: I don't see this zone as a "make it or break it"-ATH indicator.
We have so little trading volume above 13.5k, that I would consider everything above it as "no mans land".
January 22, 2020, 02:07:44 AM
I thought right now that we are supposed to see under $8,500 again because it's been $8,500+ but my speculation and expectation didn't go through. The price suddenly rose and managed to stand again to $8,700.
This is also what I thought initially, when I see the price going down in the last couple of days.
I'd say it's all over again, but then again, the price remains along the $8600-$8700 very surprising and I will say that we are still in the bullish trend, at least. So this might continue up until the end of the month, the bullishness of the market, the sentiments of the investors and confidence are still here.
January 22, 2020, 02:03:13 AM
I don't know how we can call it a failed rally. It's too early to say, we need to wait further, perhaps April to see what really is going on the market. Is the block halving already price in or not?
Currently, I have seen a strong support @$8600 but if this is broken, then obviously the price will go further down. However, it is not the case, maybe the bulls is trying to get a grip of the market already in preparation of the halving in May.
Currently, I have seen a strong support @$8600 but if this is broken, then obviously the price will go further down. However, it is not the case, maybe the bulls is trying to get a grip of the market already in preparation of the halving in May.
January 22, 2020, 12:32:18 AM
Now, my advice: look at the price line since October 25 when the price was at 10.4k USD, the trend was never bullish. However it was very possible to make nice money (started several threads to recommend buying at 6.5kish in November and December).
Important price next: 8.5k, we go below and we see 7k most likely again.
Other important prices:
-6.4k: the obvious one, strong support for now but will it hold? I think it will not.
-10.5k: major resistance (stronger than 9.2k), breaking above 10.5k would mean a nice bullish run but very unlikely for this year.
-13.5K-14k: the price everyone is waiting for, if we break above we will see a new all time high (but not likely either for 2020 in my opinion).
In the short term, 7k is likely to be seen (again). Sadly no bullish indicator for 2020. Not yet.
Important price next: 8.5k, we go below and we see 7k most likely again.
Other important prices:
-6.4k: the obvious one, strong support for now but will it hold? I think it will not.
-10.5k: major resistance (stronger than 9.2k), breaking above 10.5k would mean a nice bullish run but very unlikely for this year.
-13.5K-14k: the price everyone is waiting for, if we break above we will see a new all time high (but not likely either for 2020 in my opinion).
In the short term, 7k is likely to be seen (again). Sadly no bullish indicator for 2020. Not yet.
I don’t think so that this will be the last bull rally in the short term, in fact a correction was long overdue and now that the correction has been done we may see more bull rallies happening in the short term. Also not sure what do you mean by no bullish indicator for 2020, because everyone knows that the halving event is the biggest trigger for bitcoin related bull rallies in 2020.
Source: https://www.newsbtc.com/2020/01/20/bitcoin-halving-isnt-priced-in-based-on-this-indicator-which-means-price-will-react/
January 22, 2020, 12:30:06 AM
I don't think so, yes we may be seeing a fall but it doesn't mean it is already a failed rally, it is normal for Bitcoin to experience a fall because that's how it is for years but we are waiting for the upcoming halving which may have a positive impact on the price. And I think, the price is strong resistance at $8500 mark as per the chart and if it will go down then it'll be within $8000-$8500.
January 21, 2020, 06:00:13 PM
I thought right now that we are supposed to see under $8,500 again because it's been $8,500+ but my speculation and expectation didn't go through. The price suddenly rose and managed to stand again to $8,700.
The reason why bitcoin is more valuable than dollar is not the fact that there is less of it, the reason why bitcoin is more valuable is that bitcoin can't be corrupted like fiat. If you think bullish run is over, you are wrong, it is only starting.
It's a fact that the limited supply of bitcoin is making it more valuable than any other currency. This is the reason why many are turning in to it and because of another fact that there are coins that are totally lost forever, this makes the supply even more precious as time goes by. 
January 21, 2020, 04:38:55 PM
Placing support in a chart is subjective, you place a diagonal support that is considered as minor support. As long as the price trail at 100 MA, the market is still in uptrend and it is a good sign because there are willing buyers. There is a major support at $8400, if the price goes down below that area then it is a bad sign because the sellers are overwhelmed by buyers.
We’re still up and bitcoin price didn’t stop from moving upward because right now bitcoin will test the resistance level again. The short term up trend is very critical and if bitcoin can’t break the wall then the lower support level will be hit again. No bullish sign yet but the trend is more likely to continue going up, let’s not lose hope at this early month of 2020. 
January 21, 2020, 04:11:34 PM
A picture is worth a thousand words
Now, my advice: look at the price line since October 25 when the price was at 10.4k USD, the trend was never bullish. However it was very possible to make nice money (started several threads to recommend buying at 6.5kish in November and December).
Important price next: 8.5k, we go below and we see 7k most likely again.
Sad but true image.
Rally has broken and price may decline from here. But I don't agree with your $8.5K mark. It is evident from the chart that break point will be between $7800-8000. As far as price is above $8K, market may move sideways for next few days and may result in new rally if someone inject buy orders into the market.
Im not really fan on precisely following trend lines or indicators specially if theres a pattern on where the trend tends to break.Yes, we can presume but theres only two way either it would rally up
or would dump down.So for now, im preparing my stash for possible accumulation if ever it would crash.
January 21, 2020, 02:55:23 PM
A picture is worth a thousand words
Context is everything. While I think such trend line breaks are important to note, they often only indicate short term consolidation before resumption of the previous trend. Here's a common example of the psychology at play around local trend line breaks:
I want to see a more pronounced failure before projecting $7K, $6.4K, and lower like you are.
January 21, 2020, 02:19:50 PM
People being so pessimistic about bitcoin has always made me laugh, I mean sure go ahead and sell all your coins, go fully into fiat currency, I wouldn't mind, I would be glad that people like these get out of the market and people who actually believe in the prospect of bitcoin just stayed. Think about it, what is the other option? Being in fiat?
Fiat currency has been devaluing every single year, hell every single day, just 100 years ago you could have bought a house for 100 dollars, today you can buy a very expensive burger for it. The reason why bitcoin is more valuable than dollar is not the fact that there is less of it, the reason why bitcoin is more valuable is that bitcoin can't be corrupted like fiat. If you think bullish run is over, you are wrong, it is only starting.
Fiat currency has been devaluing every single year, hell every single day, just 100 years ago you could have bought a house for 100 dollars, today you can buy a very expensive burger for it. The reason why bitcoin is more valuable than dollar is not the fact that there is less of it, the reason why bitcoin is more valuable is that bitcoin can't be corrupted like fiat. If you think bullish run is over, you are wrong, it is only starting.
January 21, 2020, 02:20:57 AM
This chart lookalike a clear view on how the market might go down from now, it's really sad to see but this might be the reality who knows. People believe a lot on BTCs indication of pump everyday but now itseems like it may go down again, normally the day starts with a positive trend but unfortunately it ends on a negative way, let's hope everything happens only for good.
January 20, 2020, 11:49:24 PM
From what i saw here we can say that it was already broken but i think that it is not enough to say that we are going down more deeply, It may only retrace and we can use other different tools or indicators to support this trend for another possibility of continuing it price to go up. My personal target would be 9400-9500 and to see what will happen to that pivotal resistance.
January 20, 2020, 11:02:22 PM
I don't think Bitcoin at 9100 USD was bullish run, bitcoin price just pumped well, that's it! As the Chinese new year coming, people are cashing out huge money, so Bitcoin price dumped a bit, which is normal! Though right now it is growing again! But maybe we will not see a high price for Bitcoin for the next couple of days, as the Chinese holidays stays a long times!
I don't think it will have much effect on the price of bitcoin because even though the new year has arrived and many people are selling it for other purposes and will not be shaken for bitcoin to go down again, now it has started to come back and this is certainly going to be bullish again, I just look forward to next few months to see the real movement or bullish.
Whether bitcoin will soon reach $ 10k within this month we need time about that.
January 20, 2020, 10:06:49 PM
Now, my advice: look at the price line since October 25 when the price was at 10.4k USD, the trend was never bullish. However it was very possible to make nice money (started several threads to recommend buying at 6.5kish in November and December).
Important price next: 8.5k, we go below and we see 7k most likely again.
Other important prices:
-6.4k: the obvious one, strong support for now but will it hold? I think it will not.
-10.5k: major resistance (stronger than 9.2k), breaking above 10.5k would mean a nice bullish run but very unlikely for this year.
-13.5K-14k: the price everyone is waiting for, if we break above we will see a new all time high (but not likely either for 2020 in my opinion).
In the short term, 7k is likely to be seen (again). Sadly no bullish indicator for 2020. Not yet.
Important price next: 8.5k, we go below and we see 7k most likely again.
Other important prices:
-6.4k: the obvious one, strong support for now but will it hold? I think it will not.
-10.5k: major resistance (stronger than 9.2k), breaking above 10.5k would mean a nice bullish run but very unlikely for this year.
-13.5K-14k: the price everyone is waiting for, if we break above we will see a new all time high (but not likely either for 2020 in my opinion).
In the short term, 7k is likely to be seen (again). Sadly no bullish indicator for 2020. Not yet.
I don’t think so that this will be the last bull rally in the short term, in fact a correction was long overdue and now that the correction has been done we may see more bull rallies happening in the short term. Also not sure what do you mean by no bullish indicator for 2020, because everyone knows that the halving event is the biggest trigger for bitcoin related bull rallies in 2020.
Source: https://www.newsbtc.com/2020/01/20/bitcoin-halving-isnt-priced-in-based-on-this-indicator-which-means-price-will-react/
January 20, 2020, 09:31:07 PM
Placing support in a chart is subjective, you place a diagonal support that is considered as minor support. As long as the price trail at 100 MA, the market is still in uptrend and it is a good sign because there are willing buyers. There is a major support at $8400, if the price goes down below that area then it is a bad sign because the sellers are overwhelmed by buyers.
January 20, 2020, 09:04:37 PM
It's too early to say that just because we have a fall. Remember Chinese New Year is near, maybe they are selling to have some extra stuff. Also, fall is unavoidable even if we are in a good run because of traders. As you can see we have a strong support at $8.5k and seems maintaining on that price floor. If it was just a bull trap it could've cause a panic selling and by now we should be below $8k but look it's not. Don't expect a continous rally because the market is volatile.
Let's see what can be after the Chinese New Year but I am more hopeful that soon maybe by next month or even March we can be breaking through the $10,000 zone. The coming halving should have been making some influence even these days but the market is not yet ready. The Middle East war factor has already been relegated so the market is looking for reasons for it to be bullish. All in all, Bitcoin is doing good and we are still in January.
January 20, 2020, 06:58:25 PM
I don't think Bitcoin at 9100 USD was bullish run, bitcoin price just pumped well, that's it! As the Chinese new year coming, people are cashing out huge money, so Bitcoin price dumped a bit, which is normal! Though right now it is growing again! But maybe we will not see a high price for Bitcoin for the next couple of days, as the Chinese holidays stays a long times!
January 20, 2020, 06:41:29 PM
It's too early to say that just because we have a fall. Remember Chinese New Year is near, maybe they are selling to have some extra stuff. Also, fall is unavoidable even if we are in a good run because of traders. As you can see we have a strong support at $8.5k and seems maintaining on that price floor. If it was just a bull trap it could've cause a panic selling and by now we should be below $8k but look it's not. Don't expect a continous rally because the market is volatile.
January 20, 2020, 05:08:14 PM
It all began with a conflict between the US and Iran. At a time when the price of gold and oil began to increase, the price of Bitcoin also began to increase. So far the situation has calmed down, so the price also stopped rising and there was a correction yesterday. We have to wait a few more days to see that this is the end of growth. What you write is very likely, but we are still not sure if it was just a bulltrap ..
Hopefully the price of Bitcoin is only a correction and a rally after this, seeing the price of Bitcoin has great potential after halving, then it is not wrong for investors to enter here 
January 20, 2020, 11:14:18 AM
I guess so. BTC has tried to break through the $9k barrier multiple times now, and has yet to succeed, and is now met with resistance, falling off to $8.6k. I guess you could say that the Iran US war had some kind of influence here, and when the War was called off and everyone calmed down, FOMO sank in and continued to push BTC to a rally. I was expectant for the failed rally, just didn't think It'd take quite some time for it to happen. As for another run? I'm actually hopeful for it, but not this month. Probably mid-February or so? If BTC fails to breakthrough, I can only see a fall-off towards the $7k once again.
January 20, 2020, 08:51:19 AM
It all began with a conflict between the US and Iran. At a time when the price of gold and oil began to increase, the price of Bitcoin also began to increase. So far the situation has calmed down, so the price also stopped rising and there was a correction yesterday. We have to wait a few more days to see that this is the end of growth. What you write is very likely, but we are still not sure if it was just a bulltrap ..
January 20, 2020, 08:43:20 AM
A picture is worth a thousand words
Now, my advice: look at the price line since October 25 when the price was at 10.4k USD, the trend was never bullish. However it was very possible to make nice money (started several threads to recommend buying at 6.5kish in November and December).
Important price next: 8.5k, we go below and we see 7k most likely again.
Sad but true image.
Rally has broken and price may decline from here. But I don't agree with your $8.5K mark. It is evident from the chart that break point will be between $7800-8000. As far as price is above $8K, market may move sideways for next few days and may result in new rally if someone inject buy orders into the market.
January 20, 2020, 08:24:28 AM
Bitcoin prices have dropped to $8500 maybe there will not be bullish again? I do not have a technical analysis of this bitcoin because bitcoin is difficult to guess in the future price.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
Will it be possible to return to $7000? even though you have failed the rally but it is only at the beginning of the year there is hope for the future to rally again and can see the movement in the market.
January 20, 2020, 07:46:21 AM
A picture is worth a thousand words
Now, my advice: look at the price line since October 25 when the price was at 10.4k USD, the trend was never bullish. However it was very possible to make nice money (started several threads to recommend buying at 6.5kish in November and December).
Important price next: 8.5k, we go below and we see 7k most likely again.
Other important prices:
-6.4k: the obvious one, strong support for now but will it hold? I think it will not.
-10.5k: major resistance (stronger than 9.2k), breaking above 10.5k would mean a nice bullish run but very unlikely for this year.
-13.5K-14k: the price everyone is waiting for, if we break above we will see a new all time high (but not likely either for 2020 in my opinion).
In the short term, 7k is likely to be seen (again). Sadly no bullish indicator for 2020. Not yet.
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