Drop happen time now for pumping 10 next goal 15,000$ in less than 1 month , can happen Right?
all the time bitcoin price drop can happen. $11800 was big price and can drop from it.
bitcoin was 700 dollar 3 years ago and drop to 100 dollar and back again to 1000.
any one is ready to buy more and invest more to buy and save.
Topic: Will BTC form a double top @ $11800? (Read 475 times)
Can it be a double top if there is also a new high by a far margin. Also the last high was significant relative to the September ICO China ban, since China is where alot of crypto activity takes place that seems a good guide to the price now.
At 423.6% of the September high, there is a Fibonacci extended line, this is $11408 which is the last high. This new high recently was $11,874 which is way past that and it also crossed with some volume sharply. So thats a higher high, to match that you normally see a higher low to make it a bullish move. The higher low appears to happen this weekend with a drop back over the previous ATH down to $10,200 which only happened for 5 minutes but still occured on most exchanges.
It would appear the idea of a double top is not fitting the current price movement. I dont think it should keep rising without hesistation and it will need some confirmation above the 423% line of $11,400 roughly. That'll be some kind of ceiling for the moment and then needs to form as support perhaps before price moves on.
At 423.6% of the September high, there is a Fibonacci extended line, this is $11408 which is the last high. This new high recently was $11,874 which is way past that and it also crossed with some volume sharply. So thats a higher high, to match that you normally see a higher low to make it a bullish move. The higher low appears to happen this weekend with a drop back over the previous ATH down to $10,200 which only happened for 5 minutes but still occured on most exchanges.
It would appear the idea of a double top is not fitting the current price movement. I dont think it should keep rising without hesistation and it will need some confirmation above the 423% line of $11,400 roughly. That'll be some kind of ceiling for the moment and then needs to form as support perhaps before price moves on.
Trying to force-fit technical analysis onto Bitcoin has never really been successful. A lot of people predicted that the price would drop after crossing $8000 because it formed some pattern in Eliot's waves. We all saw that it reached $11,000+ before catching its breath. So just focus on its potential and keep your belief that its price will eventually reach there.
Amen. Even with traditional markets like stocks and commodities, TA is pseudo-science at best.
With Bitcoin it simply doesn't work. Just ask Matthecat or Afrikoin.
No.
Seems that you were right with that prediction, it touched $11,840 (it was a new ATH) And it dropped like hell, just like a train who left the rails.
It is incredible, how did you did to speculate about it? You really hited on it.
I dont know why it happened, but it seems that there was a big sell wall on $11,800 and it suddenly dropped to less than $10,800, maybe it was one of those big whales who was now leaving the market.
Am i the only one who is always thinking that when the price drops a lot, it is because a big whale sold all their coins out? And then i imagine the situation about giving out the bitcoins to the masses (when they buy all those coins again)
It is incredible, how did you did to speculate about it? You really hited on it.
I dont know why it happened, but it seems that there was a big sell wall on $11,800 and it suddenly dropped to less than $10,800, maybe it was one of those big whales who was now leaving the market.
Am i the only one who is always thinking that when the price drops a lot, it is because a big whale sold all their coins out? And then i imagine the situation about giving out the bitcoins to the masses (when they buy all those coins again)
Will BTC form a double top @ $11800?
BTC has been recovering from $9K on a decreasing volume - once this buying force is exhausted at near ATH - will people panic sell and take BTC lower again?
These kind of drops cannot meant it will not increase again. I believe it will reach more and more in upcoming years. I do not worry even its getting low i will be eager to buy more.BTC has been recovering from $9K on a decreasing volume - once this buying force is exhausted at near ATH - will people panic sell and take BTC lower again?
I see there are many traders are holding BTC and expecting a tremendous growth. Lets see the trend.
Will BTC form a double top @ $11800?
BTC has been recovering from $9K on a decreasing volume - once this buying force is exhausted at near ATH - will people panic sell and take BTC lower again?
BTC has been recovering from $9K on a decreasing volume - once this buying force is exhausted at near ATH - will people panic sell and take BTC lower again?
Trying to force-fit technical analysis onto Bitcoin has never really been successful. A lot of people predicted that the price would drop after crossing $8000 because it formed some pattern in Eliot's waves. We all saw that it reached $11,000+ before catching its breath. So just focus on its potential and keep your belief that its price will eventually reach there.
Will BTC form a double top @ $11800?
That's doubtful. We formed another V-bottom off the $9,000 lows. After every previous one, we made new highs and continued the trend, so it's not prudent to bet against that. We'll eventually get a failed double top, but I don't see any point predicting it. Better to wait for confirmation after we have a strong reversal pattern on the daily/weekly charts.
BTC has been recovering from $9K on a decreasing volume - once this buying force is exhausted at near ATH - will people panic sell and take BTC lower again?
Decreasing volume in this case can be quite bullish. It might mean there is a lack of sellers. High volume at resistance would suggest distribution and potentially new lows. We're not seeing that here.
it needs to fall at some point, but it wont be now. Everybody is waiting until we reach fifteen thousand dollars, and the price would not stop until it reaches that price.
Just take a screenshot over this post, and you are going to see that i was righ just in a few days from now.
It would not drop, everybody is anxius about seeing it over that price, so no.
Almost all those who are holding are really convinced about that the price is going to reach those rates soon.
Just take a screenshot over this post, and you are going to see that i was righ just in a few days from now.
It would not drop, everybody is anxius about seeing it over that price, so no.
Almost all those who are holding are really convinced about that the price is going to reach those rates soon.
Will BTC form a double top @ $11800?
BTC has been recovering from $9K on a decreasing volume - once this buying force is exhausted at near ATH - will people panic sell and take BTC lower again?
It can go more than your expectation. And when it comes to the panic selling, once the whales started to cash out those weak handlers, newbies will just follow the trend and they can have their small profit on their own. While the whales are selling, they had secured profit while having some time of having their sold coins. BTC has been recovering from $9K on a decreasing volume - once this buying force is exhausted at near ATH - will people panic sell and take BTC lower again?
I don't think the price will fall. Whenever Bitcoin price reach an all time high price for the second time, the price passes it. This is what has happened several times. I think the price rise will continue.
my prediction bitcoin price can incraese over 11k dollar in end year
end december or before christmast,
end december or before christmast,
Will BTC form a double top @ $11800?
BTC has been recovering from $9K on a decreasing volume - once this buying force is exhausted at near ATH - will people panic sell and take BTC lower again?
BTC has been recovering from $9K on a decreasing volume - once this buying force is exhausted at near ATH - will people panic sell and take BTC lower again?
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