Topic: Target Prices and Resistance Levels? (Read 246 times)

To understand the resistance and support levels, we need to study the market charts adequately. The more we study charts, the more we learn about support and resistance. A few candles are very positive and keep going to one place and coming back again, then you can understand that there is resistance of that coin and after reaching the resistance, the coin can either cross the resistance or maybe it can come down after being blocked by the resistance. It is the same in the case of support, the market gradually comes to a certain point and rises again that is the support of the market and if the support breaks then we have to refrain from taking trades at that time because if the support breaks the market is more likely to go down. I have discussed support and registration very briefly but there is much more to discuss about this topic and much more to learn that can only be learned by actually studying the charts enough.

Reading through your post, I'm given the impression that you are most likely not a trader and probably don't really see sense in all this analytics probably you will do better as an investor who will just HODL and probably sell off after a period of time when you seem to have gotten satisfactory yield of profit from your trades. But then just so you know a good and proper knowledge of what is going on on the chart could be an edge for you over other investors as this knowledge will help you Maximize your profit while minimizing your losses aswell, they are not just noise and foolish as you did put it, the only problem I see is the complexity which can further be simplified and help you understand better without have to stress through the complexity. Firstly the breakdown to simplicity will be based on your preference, Resistance and support levels for a long term investor, mid term and short term investors differs and are not the same, a comprehensive combination of these levels for Long and short term Brings about the complexity but then it's a Big advantage for traders having to know the variation across all terms.

Pick your niche and study the levels that applies to them and know how well to implement it, I think that way it will make more sense to you and help you trade or invest better in Bitcoin or other coins, this is because these levels are a reflection of market direction and the behavior of other investors and traders in the market as you.

Do not do trade with Bitcoin buddy. You just buy and HODL for the upcoming weeks and months. This opportunity will never come again.
I am sure it might sound like a fairy tale however I am 101% sure about the success of Bitcoin in 2025. It will break ATHs and those who believed it in the bad phase, will reap the profits.

Im looking at a resistance level of 50k for the next breakout, my support is 30k. I have a limit order there.

its worth noting..
as soon as the futures "shorts contracts" (wanting to keep prices below $39k) closed.. the whales removed the $39k spot reisitance wall
and now .. boom, over $40k spot price

https://www.coindesk.com/markets/2023/12/04/bitcoins-price-rise-to-41k-buoyed-by-200m-in-weekend-short-liquidations/

..
the spot market actually does want to go up naturally. there are many people in pacific islands willing to pay upto $150k right now due to mining costing them $150k.. but the futures market of shorting. want to artificially keep the spot market down so their leveraged short contracts can profit if the price stays down

the best example of this was october2022-january 2023 where each week had a flat line and adjusted in a few days for the next weeks resistance..(if you zoom out on the 1 year view)
in trading.. a flat line is artificial, not natural

"value" is not PRICE
the value is the long term bottomline SUPPORT where no one sells below..
the price wiggles above value

here (in green) is where value is roughly laid out

This is why I don't awaits for the falling rate (depreciation value) to come before I could accumulate more to my Bitcoin wallet rather if chances comes at a falling of price, such is are appreciatable reasons to take advantage and accumulate more.
I basically don't believe in Bitcoin predictions on my Bitcoin journey because investors predicts doesn't make changes neither does it make individual differences considering ones favour.
The volatility of Bitcoin is not such flexibility to individual considerant. I just have to believe that Bitcoins predictions is the investors anxieties that also speculates the rumours of Bitcoin.

@ OP, I am backing your exaggerations up with the previous historical prices of Bitcoin that has the rate of the coin at the values of UPs and DOWNs.
Bitcoin is flexible to inflations and deinflations that is depended to the investors of demands and supplies which is certainly undefinable because Bitcoin is a global accepted measure of investment and of course a unified digital currency for exchange of goods and services which doesn't have the system to its users totality present to its investors and not even to the expert trades whom are believed to have accurate or convince able predictive experiences.

Here is the historical prices of Bitcoin which its history is liable to repeat itself or certain history is termed unbeatable. I believe we have since been expecting the price of Bitcoin to to get to or beat the history price of November 2021 where the price was at $69k and yet unbeatable while investor still appreciate the current price of todays can could termly say it is a bull running at when accelerating from mergings like $25 to $39k as today and it is being appreciated yet still doesn't beat the highest price in history yet.

Interestingly you can read about in my previous thread tjat talks about "The will of Bitcoin is not the will of man".
https://bitcointalksearch.org/topic/m.63259941
That is just to say the agitations, the predictions and the exaggerations about the values of Bitcoin is just rumours just as OP has said it is because Bitcoin is hovered according to its potential volatility.

The market is prone to manipulation, I think that all market players are fraudsters 😅 (including me meaning) Because of its very volatile nature, sentiment suddenly reverses direction and so on. Regarding the price history repeating itself, I don't think it's because the price movements are also different. Candlesticks cannot be used as a benchmark, sometimes their movements are wild depending on market supply and demand and the market players themselves.

What you say often becomes a trader's benchmark for measuring an order block or resistance/support. And this order block can be a strong benchmark for the direction of price movements, but can also sometimes be deceptive depending on the direction of the trend itself.

The conclusion I can draw here is that in trading we need several supporting data, just one data is not enough.

if you have a $50k target where you might sell. but then have the FOMO of hoard for higher returns. you are not forced to make one or the other decision.. you can always .. do both.
sell half hoard half

if the price drops you can buy more in the dip using the half thats then fiat. if the price continues to rise you still have half to get to next target at 100k

the real question is not if it will reach $100k.. its more about when.. so the real decision is. do you really need some(half) fiat when it hits $50k or can you wait it out longer

Most of the time, the prices that have the resistance are those that have the satisfying appearance to it, didn't last time the resistance was around 30k, 35k, 40, 45k, 50k and so on? Probably the resistance is with the fact that there are some people that have been taking some profit here and there so they sell at this point. I don't even know now if I'm still going to take a profit when the price goes to 50k because I have a feeling that when it hits that point, we would probably see bitcoin go to 100k or higher so might as well hold on to my bitcoins for now, don't want selling prematurely.

no its not based on "historically" you are obviously someone that just watching youtube trend anals that show a chart and then draws a line and say "look this also happened in X year"
if your influencer just talks about triangle patterns and moving averages.. unsubscribe from that influencer.

those type of people are not Technical Analysts .. they are Trend Anals
big difference

if you are not looking at mining costs of well known asic farms locations
if you are not looking at known exchange reserves in:out flows..
if you are not looking at the demography of traders..
if you are not looking at UTXO confirmation age...
if you are not looking at the spot market depths..
if you are not looking at futures markets limits.

then you are not doing technical analysis

target price is used by investors to identify what is the right time to buy or sell they typically use different kinds of strategies but mainly this depends on historical data

resistance level is a point in which the coin has struggled to get past historically speaking when the price is almost at the resistance level investors might anticipate a gradual slowdown of increased prices

The closest resistance area from here will be the $40K psychological number. Why? Its just a nice round number. Looking at the chart however it doesn't really have any significance but I expect some resistance just that its a big round number. These sometimes worked as short term resistance but never really as long term. Look at what happened when we broke $20K and $50K.

After that might be the $48K area which is a pivot and also a fib number. And after that we got the bigger $50K round number and above that another $52K pivot. But we are far away from those and don't need to worry about them for the time being.

For the sake of argument the current BTC resistant point would be 40k. We are yet to pass it this year and we are close to it.

I ladder up so I have multiple targets personally.

40404 _ I sell a bit
42424 _ I sell a bit
45454 _ I sell a bit

so I have three current target points.

and the general resistance point for all of btc is 40K at this moment.

MY post is close enough to accurate and you will find that close enough tends to work.

I have been predicting 42k for dec 1 and 48 k for dec 31 for months

with a small pull back in Jan

target is more individualistic in peoples heads
resistance is more collective in market order books and notable collective futures contract points

So which post is correct here on the actual meaning of target price and resistance levels?

You are absolutely right, while support and Resistance are important measures and well recognized indicators utilized by professional and ordinary traders. However, they can only show their strength when their is not short and long squeeze, their effectiveness diminishes under extreme pressure of squeeze . Wherever intense short or long squeeze occurs, no matter how strong these support and level are, eventually they will be broken, and in such scenarios, accounts of future traders are often liquidated if they don't use any risk management tools, such as stop-loss.

This is just like you're trying to perform a trade and decided to make use of a limit or instead of a market order, you can wait for long without having your order being confirmed with the value of the rate you place for the market to sell, so it's more easier to use a market order than limit which is under assumptions, if you guess right, you win and if you don't then you losse or keep waiting for your order to get confirmed, we may not be always accurate with the way we predicted our own market view, remember we are dealing with a volatile currency, it can go the opposite of what we presumed.

Actually, there isnt a resistance zone. Instead, its more of a band that changes based on how investors and the market think. Investors arent making up numbers like 27k or 33k when they talk about barrier levels. After looking at old data, these numbers show places where Bitcoin has been sold off in the past.

To put it another way, these numbers are like psychological signs for buyers. As a result, supply and demand have been affected by changes in investor feelings at those times. Yeah, the arguments can get too heated at times, but they're not completely pointless. Patterns, not just prices, are important. There is a lot of psychology behind these talks, even if they seem like just guesswork. If investors feel happy buying or selling at certain levels, that affects the price movement. Although, keep in mind that Bitcoin, like any other asset, is open to changes in the market, and these levels are only suggestions, not rules.

Resistances and supports only show their powers when there is no Short Squeeze or Long Squeeze. When Short Squeeze or Long Squeeze occurs, resistances and supports, even how strong they are, will be broken very quickly because of market liquidations.

Bitcoin Support and Resistance for dummies

You can use support and resistance to identify a price channel and use it for scalping trade but do it with Spot trading only. Because if you use leverages, when a price channel is broken, support or resistance is broken, your leveraged position will be liquidated.