Topic: Will Bitcoin Get into the $8600 Zone? - page 3. (Read 585 times)

When we hit the $8800 yesterday the rejection was pretty dramatic and very bearish. The outlook is not looking good. I am expecting a run to the $8500 area and from there the bears will appear and try and short it down to the $8000 area again.

I was expecting at least $9000 area to get tested however looks like the whales front-ran many traders who were either going to use $9000 to get out at break-even or use it to enter a short.

Bitcoin got really close to your mark but since then the price has been going down, to me we are in a very difficult situation for those that are trying to predict the market, the price of bitcoin is being too erratic, so before I commit my money to one side or the other I prefer to wait and look for a very clear signal that the price of bitcoin is going to take one direction or the other, obviously this way of trading does not produce as much profits but it is safer.

It seemed we are finally over that Bakkt bear time, I mean it all depends on where it will go from here but at the end of the day we broke the trend and thats what matters to us, if the price kept going down and up around the same price it would have been a boring period but we broke it and now we are above.

Bulls should be coming in any moment now, I am expecting another $10k+ soon, and I mean really soon, like a week from now we should be at around $10k. People do not realize the importance of breaking the trends upwards, all the increases in bitcoin world happen right after we moved above the trends, no exceptions, which means bitcoin will once again go to a high price if history repeats itself. I wouldn't mind going above $13k as well once again but I am realistic and say $10k is enough.

It seemed we are finally over that Bakkt bear time, I mean it all depends on where it will go from here but at the end of the day we broke the trend and thats what matters to us, if the price kept going down and up around the same price it would have been a boring period but we broke it and now we are above.

Bulls should be coming in any moment now, I am expecting another $10k+ soon, and I mean really soon, like a week from now we should be at around $10k. People do not realize the importance of breaking the trends upwards, all the increases in bitcoin world happen right after we moved above the trends, no exceptions, which means bitcoin will once again go to a high price if history repeats itself. I wouldn't mind going above $13k as well once again but I am realistic and say $10k is enough.

People in the world of cryptocurrency especially those interested with Bitcoin are happy and ecstatic to realize that their favorite coin made a good pump and is now hovering at around $8,500 which I did not see coming because I assumed that it will be moving sideways in the vicinity of $8,100-$8,200. Those who bought their Bitcoin when it dipped to $7,700+ are now thinking if it is more advantageous to convert them to USDT take some profits and wait some more time for another dip.

I am taking a good quote here from an analysis: "On October 7, the Bitcoin price made a rapid upward move from $7700 to $8300. On October 9, cryptocurrency analyst @D4rkEnergYYY identified a bull flag in the BTC price, which is a bullish pattern. Furthermore, since this pattern allowed the upward move from October 7, it is very likely to act as a continuation pattern. The potential target following a breakout from this move is found at $8600."

Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

Bitcoin will growing faster so your expectation will possible on end of this month. But yesterday we are all see some gradual growing in crypto market and again it is slowly get back to the 8.2K USD. Many experts are said it will cross the 13k USD on end of the year because we are all see some good growing on this year and little dump last month so mid term and long term relationship is good for this project.

Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

Bitcoin will be moving back into the $10k zone very soon before october comes to an end.  In as much that Bitcoin might be struggling at the $8k at the moment, i see it entering back into the $10k zone before october comes to an end.

If only speculation, i will agree if bitcoin will reach $9000 or more. Because maybe it is time to accumulate before halving. But i am concerned too about christmas, usually price dumped because people withdraw their money to do holiday. Maybe sometime market volume trading not much as usual.

People in the world of cryptocurrency especially those interested with Bitcoin are happy and ecstatic to realize that their favorite coin made a good pump and is now hovering at around $8,500 which I did not see coming because I assumed that it will be moving sideways in the vicinity of $8,100-$8,200. Those who bought their Bitcoin when it dipped to $7,700+ are now thinking if it is more advantageous to convert them to USDT take some profits and wait some more time for another dip.

I am taking a good quote here from an analysis: "On October 7, the Bitcoin price made a rapid upward move from $7700 to $8300. On October 9, cryptocurrency analyst @D4rkEnergYYY identified a bull flag in the BTC price, which is a bullish pattern. Furthermore, since this pattern allowed the upward move from October 7, it is very likely to act as a continuation pattern. The potential target following a breakout from this move is found at $8600."

Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

Let's start. We have two charts: $BTCUSD on the left side, $BTCUSD on the right side. You might or might not know it, $BTC really likes to draw the same patterns or combinations of patterns on both, small and big time frames. On the left side there is a 2017 bull-run, while the right side shows nowadays.

I hope you've already noticed that on the right side there is forming a bullish pattern - Double Top. This pattern indicates the next high at the $15000 level, the local ATH is located at the same $15000 level. On the left side we have the first ATH at the $19000 level, but the second local ATH was located at the $15000.

I can explain this difference by the fact that in December 2017 the price was pumping insanely, everyone expected ATH at $15000 or $17000, but not at $19000. Thus, previous ATH was formed “by accident”, unlike the current ATH ($15000) which is adequate.

No matter how strange this sounds, but I don't mean that the price should simply go down after the formation of a Double Top . If we take a look at the chart more globally, we would notice that the price is forming another large Triangle with the flat resistance and ascending bottom, which means that the price will break through the $15000 level and will form the same Double Top in the $19000 zone. This pattern, in its turn, will form another triangle with flat resistance on the weekly chart and then the charts will be completely identical.

If only speculation, i will agree if bitcoin will reach $9000 or more. Because maybe it is time to accumulate before halving. But i am concerned too about christmas, usually price dumped because people withdraw their money to do holiday. Maybe sometime market volume trading not much as usual.

The ETF proposal will be rejected as others have been because it allows pension fund investment that they dont want involved with BTC and also sanctions a foreign market.  I dont think anything has changed for them until the ETF is quite restricted in potential users, they wont allow it like GLD for example.

8600 is the 200 day average at the moment so it is struggling some.  I think we have a small area its trying to break out of with small bearish and bullish trends.

Image removed to save space

I have doubt Bitcoin will have a hard time breaking to $8,600.