Topic: Significant Sudden Move on BTC Price (Read 291 times)
legendary
Activity: 2156
Merit: 2100
Marketing Campaign Manager |Telegram ID- @LT_Mouse
That proves how much noob I'm in trading. Seriously, I am a long term holder but recently I was trying to learn technical analysis. Thank you dear for helping me.
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After some days of continuous red and stable market price, BTC suddenly has increased a significant amount. Is there something which has forced the price or the increase is organic? I have no idea though.
It is not that significant, in fact if you watch the previous days you will see that the volatility of bitcoin is going down, which means that the likelihood of a big movement is not very good so most likely nothing will come out of that movement and at some point we will see a movement in the opposite direction, also I have never seen the point of trying to know if a movement in the price comes from some form of manipulation or if it is organic growth, as long as I win the trade I am fine with it. After some days of continuous red and stable market price, BTC suddenly has increased a significant amount. Is there something which has forced the price or the increase is organic? I have no idea though.
That only means we are still on the up trend despite of the dump days with bitcoin. I also have no idea why but if the chart continues to move upward then its good for the market. Its the last week of July maybe we will go for the ghost month with a good price.
We're on the uptrend movement but the price was slowly increasing. There's no certain signs to consider, somehow it gives us further analysis by the time price climbs up when sudden demand arises. June is better than July actually, but we don't know yet for August what would it bring to bitcoin price. Would it be recovering or not? That's the biggest question for now! And I think the answer will be based on the actual results of the market.
Another issue is that Bitmex is getting lots of outflows due to the US investigation and this leads to less liquidity and hence why these small orders can create moves this large.
BitMEX has generated $2.58 billion in volume in the last 24 hours, which means that there is still plenty of healthy trading going on there. It might take some time before the outflow of capital will hurt their volumes.Important to point out is that BitMEX's price is derived from Coinbase Pro, Bitstamp and Kraken. It will not affect the price on spot exchanges would the volume on BitMEX drop to for example $1 billion or even lower.
I pay more attention to how much liquidity there is left on spot exchanges, which is still reasonable given the decline in interest now the price isn't going up anymore. Time will tell if it stays like this....
Structurally, they don't matter. Bulls need to break above $10,235 to indicate a reversal of the downtrend.
That's definitely not enough to indicate a reversal of the downtrend. If we zoom out a bit, it is pretty clear that we have several large mountains to climb. Also don't forget that we're not just dealing with the resistance levels of the current year, but also the ones of 2018.
Even if we do hit ~$11,500 it might still be just another lower high that at the same time gives more shape to a descending triangle that's forming. I will only consider a potential reversal of the bear trend if we break above the $13,200 level. As long as that isn't the case, I expect lower lows (the trend is your friend). The charts just don't look good.
Gold on the other hand looks way more bullish and seems to indicate that there is much more upside potential and relatively close to a large breakout. It's going to be an interesting to see how Bitcoin will react to it.
The change is not significant and is also short-lived. Any significant change in the price of bitcoin should be from a week or more, otherwise, it is just another regular in bitocoin trade.
I wouldn't consider this a sudden move. There have been moves similiar to this for the past few days and most of which retraced almost immedaitely and this move just took longer.
The issue I see is that the volumes are down because people don't know which way its going to go. Either back over $10K or back under $9K.
Another issue is that Bitmex is getting lots of outflows due to the US investigation and this leads to less liquidity and hence why these small orders can create moves this large.
The issue I see is that the volumes are down because people don't know which way its going to go. Either back over $10K or back under $9K.
Another issue is that Bitmex is getting lots of outflows due to the US investigation and this leads to less liquidity and hence why these small orders can create moves this large.
That only means we are still on the up trend despite of the dump days with bitcoin. I also have no idea why but if the chart continues to move upward then its good for the market. Its the last week of July maybe we will go for the ghost month with a good price.
Its good for us and we should not call it as a sudden pump because many of us are still expecting for an expensive price again. If there’s a pump up to $10k then I also believe for the Month of August the price will go back to an strong up trend, we still have more months before the end of 3rd quarter. 
Such price movements are relatively normal, I'm surprised that someone who's been here since late 2018 thinks this mini pump is actually a "significant" rise in the price, makes me wonder what you thought about that $600 increase about a week ago.
But it looks like this little surge in the price failed to trigger something bigger (for now) as we're back to where we were earlier today, around the 9.5k mark...Boring.
But it looks like this little surge in the price failed to trigger something bigger (for now) as we're back to where we were earlier today, around the 9.5k mark...Boring.
Indeed. This sudden jump in price of Bitcoin is small compare to the increased that happen a few weeks ago. For those old timer, this kind of fluctuation is normal they even look at the sudden crash in price normal. So there is nothing to be surprised about this Bitcoin price movement. It is Bitcoin anyway, and it is known for it's high volatility market.
Such price movements are relatively normal, I'm surprised that someone who's been here since late 2018 thinks this mini pump is actually a "significant" rise in the price, makes me wonder what you thought about that $600 increase about a week ago.
But it looks like this little surge in the price failed to trigger something bigger (for now) as we're back to where we were earlier today, around the 9.5k mark...Boring.
But it looks like this little surge in the price failed to trigger something bigger (for now) as we're back to where we were earlier today, around the 9.5k mark...Boring.
After some days of continuous red and stable market price, BTC suddenly has increased a significant amount. Is there something which has forced the price or the increase is organic? I have no idea though.
It was a ~$200 move. Maybe you should zoom out and stop looking at the 1-minute chart!
The move was already fully retraced; Bitstamp just hit $9,514 a few minutes ago. Don't worry about these little spikes. Structurally, they don't matter. Bulls need to break above $10,235 to indicate a reversal of the downtrend.
A breach in $10k would something I would call significant, considering that that price has been so elusive for the past week and have proved to be difficult to attack even with a good momentum/run from the bulls. 2% ain't something extraordinary in today's market movements, and we've been swinging between $9300 and $9600 for the past week as well. If you would take a look into 24H charts on several exchanges, spikes like these happen, though somewhat short-lived as traders seek to collect some profits along the way.
I've seen that rise but I'm not looking for any reason for this. Let's just take it as something normal during these rainy days.
The price is stabilizing on $9500 and the possible support for this time is $9000.
The price is stabilizing on $9500 and the possible support for this time is $9000.
After some days of continuous red and stable market price, BTC suddenly has increased a significant amount. Is there something which has forced the price or the increase is organic? I have no idea though.
The number of days with stable price was super low, compared to the past when there was even an entire month like that.
Then the sudden increase was .. what, 3.5%? Even 10% "sudden increases" are (still!) normal. Bitcoin is a very volatile (crypto) currency. You didn't know that?
Also the pressure was clearly building up. Bitcoin "wishes badly" to go back above 10000$
After some days of continuous red and stable market price, BTC suddenly has increased a significant amount. Is there something which has forced the price or the increase is organic? I have no idea though.
Is there something which has forced the price or the increase is organic? I have no idea though.
Honestly, that price behaviour is just a normal so nothing big deal about it. Price swings are just normal and you can even see a possibility of $500+- swing above margin on 24H or less monitoring.
No need to specifically think what's behind the current price behaviour. It will just give you a headache. If you are planning for something, tell us here and we might give you some references and pointers.
This could still break down and we could be back in the $9500s soon, though this is a bit different from the other wicks we've had recently as the hourly closed and the candle body isn't significantly shorter than the wick, but seems like we're going sideways again after that brief pump. Seems like the pump originated from GDAX or Binance, had some pretty big liquidations on Bitmex as well from what I can see on the new Bitmex Rekt twitter account. Doesn't seem to be any significant news that impacted this pump either.
I cannot say that a 2% price increase is something out of the ordinary, we did experience 9,600$ to 9,700$ last two to three days ago and. It cannot clarify anything that this consolidation is over and we may still very well be in the consolidation stages. Maybe we could start the talks of another good bull run when BTC goes back up above 10,000$ and starts a breakout around that area.
After some days of continuous red and stable market price, BTC suddenly has increased a significant amount. Is there something which has forced the price or the increase is organic? I have no idea though.
Common questions into those people who are just new into this market but i would answer you this that those kind of price increase is just a typical day here on crypto even a 5-10% movement is just an ordinary day.
So its better to get used to it rather than to be shocked with these movements but instead you can utilize these movements to make profits if you do able to.
legendary
Activity: 2156
Merit: 2100
Marketing Campaign Manager |Telegram ID- @LT_Mouse
After some days of continuous red and stable market price, BTC suddenly has increased a significant amount. Is there something which has forced the price or the increase is organic? I have no idea though.
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