Topic: There are positive signs in the movement of bitcoin prices (Read 482 times)

Provably next year so hopefully we can see some good news first before we can give a though's about  that since if no fully  revival of economy and also no vaccine maybe we will struggle to see some good numbers on bitcoins.

We seems to see this stability until next month so lets all be hopeful  that there's no dump will happen.

I would think the best course of action would be to actually buy more and more bitcoin so that you could accumulate. If it goes down, you could just wait longer and longer and eventually would go up, if it goes up you could sell and profit.

Or It could take a year, considering the fact that we're in the midst of the pandemic. This time is different than the past 2 halving, and it's surprisingly Bitcoin maintained at a good level after the pandemic made a huge negative impact in crypto space last March.
Though, I still believe $20k isn't far from happening next year at the very least.
These current movements doesn't indicate any positive signs nor negative signs in the next weeks.

*The moving average of convergence and divergence is slowly entering the descending zone.
*The hourly relative strength index is declining to 50.
*The main support levels are $ 9275 and then $ 9180.
*The main resistance levels are $ 9350, $ 9375 and $ 9500.

This time is different than the past 2 halving, and it's surprisingly Bitcoin maintained at a good level after the pandemic made a huge negative impact in crypto space last March.

Though, I still believe $20k isn't far from happening next year at the very least.
These current movements doesn't indicate any positive signs nor negative signs in the next weeks.

There is another story to this, the halving happened and even if it takes a couple of years the analyst predicted will be true, no one in the right sense that saw the past two halving will predict that the price would rally to $20k just after the halving as everyone knows that it will take a few months to catch that momentum.
The price is hanging over $9k for a very long time which is not a bad valuation considering what the valuation was when the halving happened 4 years back.

Mate we are experiencing this ups and down from couple of months, just a temporary pump doesn't mean it is going to rock. Why even many analyst predicted that BTC will cross 20k barrier after Halving but in reality we are seeing the right??

To me if the value of BTC goes more than 12k only then I will consider it as positive one

If you look closely you will see that bitcoin just stay its price to $9000 in the past few months that the price of bitcoin does not goes down to $8000 since bitcoin halving have occured. So in a short time, bitcoin could pass the $10,000 or before the end of the year of 2020. All we need to do is to have a little patience and maintain our long term investment.

Most people here will buy only if there are seeing confirmed signal for directions of prices to be profitable to them. I mean not all the people here are preferring to be buying at every dips as they may buy only for short term benefits (we cannot blame that because they must be active traders rather than being core bitcoiners). Moreover, OP is speculating based bitcoin to be trading stronger above $9300 levels but right now bitcoin is trading below $9200 hence this speculation is basically not in effect any more.

Let me back to the trend of bitcoins, the only good thing what I am observing right now across bitcoin market is, it got power to hold above $9000 levels. But, I wonder how world economic crisis is still able to influence the prices of bitcoin; does it mean bitcoin market is still depending on individual investors who regularly but bitcoins from their day job?

Many people expect to see bitcoin price can pas $10k in a short time, but if we see the bitcoin movements, it seems, the price is at stable conditions because the price is not going down below $9k or increase up to $9,500. The price itself is still searching a good time to increase, and perhaps, we will have a chance to buy more bitcoin if the price is down below $9,100 because the price now is at $9,150.

If you look closely you will see that bitcoin just stay its price to $9000 in the past few months that the price of bitcoin does not goes down to $8000 since bitcoin halving have occured. So in a short time, bitcoin could pass the $10,000 or before the end of the year of 2020. All we need to do is to have a little patience and maintain our long term investment.

I don't see anything like that, positive signs? We all that positive and optimistic for the incoming but unfortunately, we are heading for nothing but still at a low market support level. Halving effect is nothing to see at this time and anyway, we can't expect it also to take effect in this situation.
What we asking for now is to keep the market stronger and given a chance to break that $10k wall, not to be more speculative to go further beyond.
The situation is really bothering so much and people aren't much confident to invest crypto but have to secure their health first.

Thank you for the analysis and it is definitely a great article, but I have an opposite opinion to you. I would argue that bitcoin is just finally reaching resistance to prepare for a major dump.

There is another story to this, the halving happened and even if it takes a couple of years the analyst predicted will be true, no one in the right sense that saw the past two halving will predict that the price would rally to $20k just after the halving as everyone knows that it will take a few months to catch that momentum.
The price is hanging over $9k for a very long time which is not a bad valuation considering what the valuation was when the halving happened 4 years back.

Mate we are experiencing this ups and down from couple of months, just a temporary pump doesn't mean it is going to rock. Why even many analyst predicted that BTC will cross 20k barrier after Halving but in reality we are seeing the right??

At present, the price of this currency has increased by 2.17% and may continue its upward trend towards the resistance level of $ 9,500.

Bitcoin prices are rising and the resistance zone has recently broken $ 9300.
The price of the currency reached a new weekly high of $ 9372 and was above the 100-hour simple moving average.
A short-term uptrend channel with a support level of $ 9290 is formed in the hourly chart of the Bitcoin / dollar pair.
The currency remains at the support level and is likely to continue its upward resistance to the $ 9,500 resistance level.

Yesterday we saw a lot of positive signs above the $ 9100 level. Bitcoin began a steady upward trend, breaking prices above the main resistance levels of $ 9250 and $ 9300 and entering the positive territory.

Prices even peaked at $ 9,300 and peaked at a simple 100-hour moving average. A new weekly ceiling was set at around $ 9372, and now the price is adjusting to lower levels. The price fell below the corrective Fibonacci level of 23.6 percent in the upward range of 9178 to 9372 dollars.

Bitcoin's hourly chart appears to be a short-term uptrend with a support level close to $ 9290, and the price is approaching the channel support level at $ 9290.



Key levels of Bitcoin support
If Bitcoin starts its downward correction below the support levels of $ 9292 and $ 9275, it will probably fall to the support level of $ 9245 (the recent broken zone).

The next major support level is around $ 9,180, and if the price falls below that level, Bitcoin is likely to return to the downtrend in the short term.

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*The moving average of convergence and divergence is slowly entering the descending zone.
*The hourly relative strength index is declining to 50.
*The main support levels are $ 9275 and then $ 9180.
*The main resistance levels are $ 9350, $ 9375 and $ 9500.