Topic: x (Read 1168 times)

It always is, it's hard to cultivate control when you dedicate yourself to HODLING your coin, you may be tempted to sell to cut your loss and hope that the price will keep on rising because it's hard to find the floor when there is a crash and the peak when the market is in bull and surging, we have to have faith to keep it our coins in our wallet.

Looks like you foreseen the incoming movement huh?almost accurate of what happened recently and now we are back at $11,000 level.

That will depend on what people think about HOLD itself because I am sure that some people hold their coin because of being forced from the situations of the bearish market, or they have a target price to sell. HOLD can become a strategy if we have the entry and exit point so that we can act based on the market situations, and if the price can touch the target price that we want, we will sell it at that time. Each people will have a strategy for holding their coins, and they will sell the coins if the price touches the high price, that is for sure.


Day trader still have the entry and exit point because they calculate how much differences of the price that they can see to sell the coin, so they can make a profit. No matter if he is a day trader, holder, or normal trader, the entry and exit point will be an important point in trading.


Semi or medium holding will not be a problem as he can make a profit. But I prefer to get a little profit if the market moves not good, but I can trade over and over.


You are right. I am searching for a small profit if I don't have a chance to make a big profit. I think if we can get that profit over and over, we will make more profit.

Traders do have an entry and exit points, investors don't. An investor goes into bitcoin not thinking about how much he will make today or tomorrow, an investor joins because they think about the future and what it will be in the distant future, so if it becomes $5k today or $20k tomorrow it doesn't matter to them because all they care about is the future and the moves we have right now doesn't really reflect into well into future, it reflects on the short term.

Hence I think any trader should be careful about what they are doing, without those people the daily changes wouldn't happen, bitcoin would be boring and all these volatile movements wouldn't happen, traders are the ones who make it possible for bitcoin to stay active and get all the attention from the world.

because you are not pointing for a day trader mate instead what you are talking about here are those chance trader that can afford to keep holding and not relying for daily income this is different from day trader.
actually This is Semi long term holding mate,when a person can wait for a week or month waiting for what amount he wanted to sell.
when i am still trading i am not looking for being greed instead i am contented in at least gaining 5% for a day.
because for me?it is enough to gain small than losing at all.

There is a misconception in terms of using the HODL as strategy wherein a lot of people thinks that this strategy is the best way to earn money. Actually it is not the best way because it is not applicable in all kinds of trends and it is only applicable in uptrend. People who doing this are most likely doesn't have enough knowledge about market but it is not important after all because what is important if that strategy is suitable for us. HODL doesn't mean that you will hold it even if the trends showing weakness, there is a misconception because it requires strategic planning where you need to know the exit and entry point especially if you want to have high winning rate.

But not all trader have an entry and exit point, especially with the exit point because many of us will hold for more when the price increase higher. Some of us want to make a bigger profit, so we hold bitcoin for a while until the price can increase more. If that is what we do, we will not make a nice profit, but we will get a small profit. We forget about our target sell price because we want to make a bigger profit, which is not always we can get. It's better to profit while we can than to lose the chance to sell at a high price.

Despite this favourable period I haven't sold my coins. I beleive this is not the peak yet and although it might not come this year I continue to hold. Now we are having slight correction that was expected to my opinion and after that the rise might not be sharp anymore but on long term holding is profitable.

Yeah the overall peoples profit and individual profits always collide with each other unless you work together and that is rarely the case since we all use exchanges and trade with people we do not know. For example, if I buy from $6k and when it peaks at $12k I double my profit but at that moment I want to sell and take out my profit, that is individual profiting and I find it quite alright, however when I sell someone has to buy and when that person buys there could be a lot of people like me who sell which would drop the price. So, what happened? Overall profit of the market dropped while I individually made a profit.

Hence, I think there is nothing wrong with making profit just for yourself while market loses money but at least you should be aware of what you are doing to the market.

I would like to know why the price is not up to the mark of $15k according to you, we are undergoing a pandemic and you think that the economy of a country is struggling and you think it is not a negative aspect and to be frank i am surprised that the market is getting stronger when the economy is struggling globally.

The support in the market is not by bitcoin or cryptocurrency enthusiast but it comes from big financial institutions who understands the market and investing in the market to profit from it and i can bet that all these investment will drain out in the near future.

That is the key thing here, if it "breaks above" this level it could totally go to a new high very soon, however what is the chance that it breaks above this level is the real question. What happens if it goes down to $8k instead of breaking over? That is still a possibility if someone sells their coins and if they are whale, so we should not get our hopes up that quickly.

Moreover I am sensing that bitcoin is at a very fragile place, it could break down or go up at any moment and right now it all depends on one move and that one move could be triggered by someone super rich, the moment that happens we are all richer or poorer.

Honestly, just one rich person making a 2-3% move to bitcoin could cause it to spiral out of control by the followers and suddenly be $20k or $5k.

Bitcoin's chart has formed a triangle pattern with $12.000 as a support. Broke this line it could increase sharply and touch another new all time high at this year.

You have a good choice dude, don't be greedy when you have got profit you have to take some the profit and hold some for the next hope. I get used to withdraw per week, no matter how much it is clearly I must withdraw the profit that I got.

Most likely but we cant really give out or can point our fingers that  this is the actual reason on why crypto market is rising up.If it do really talk about Bitcoin been used for hedging
then so be it yet everyone can really enter out the market and money can flow or do came from everywhere so it isnt really that kind of surprising thing to talk on.
About sharp increase then decrease in price matter? Its always been a typical stuff neither its a normal kind of movement or even on a manipulative like.

Well, OP said "sharp increase than decrease in price", he didn't say "sharp increase then sharp decrease". And we can all agree that we had a sharp increase, and then a "decrease" not a sharp but still a decrease, so I think what OP was trying to say was a decease, not a sharp one, just any decrease at all, which we did had as well.

So, I would say it is correct. Now it may not be a big correct huge true thing, but it was close enough that I would give it passing points if it was a test. After all we have seen people who claim bitcoin would have been a million dollars right now, that is why I think it is important to realize who is close enough and who is crazy, this one wasn't one of the crazy ones, this was close enough that I can accept it as correct.

maybe the expectations were wrong. even before the rise or during the hype i never thought $15k is the next target. i said in multiple occasions that $13k can be reached right after $10k is broken and we reached $12100 which is still close.
then it is obvious that market will correct and then rest a little before rising back up again.

i say bitcoin is rising with the realistic expectation so far.

Just after two months, we get to see bitcoin $11,000 and then goes $12,00 then with a little correction back to $11,000. We're on the right path but just as I've said a few months ago.
I took some profits just to have some cash on hand but it doesn't mean I'll be giving up holding bitcoin. The favor is within us.

I think the market doesn't react as we all expected. If it did we should be trading around the $15k price value by now. No negative news just positive vibes yet no much improvement (to my expectations) and when the negative ones do occurs it give more exposure to bitcoin instead of damaging the images like the twitter hack. We saw more of price appreciate instead of depreciation as most were anticipating. The market is getting more matured, careless of news this days.

The price stability just goes to show how much of a support the market is getting lately. I think more and more enthusiast are getting the big picture of investing for the future by holding instead of constantly putting their funds at risk by trying to outsmart the market.

We will likely see the sunrise then later on see the sunset.  

To be more serious try this analogy.

Woodrow Wilson president from 1913 to 1921 accused to be a racist. I am not saying he was one, but he was accused of it.
Donald Trump    president from 2017 to 202? accused to be a racist. I am not saying he was one , but he is accused of it.

1918-1919 Spanish flu world wide pandemic
2019-2020 Covid-19 world wide pandemic

1920 to 1929 the roaring 20's
1929 super stock crash
1929 to 1939 world wide depression


2021 to ? roaring 20's. --- so once covid ends we whale we now see  btc and gold are leading indications of a boom
2025-2029 super stock crash -  what goes up must come down
2029 to ? world wide depression



A lot of parallels going on.

And one needs to remember

The famous George Santayana quote:

“Those who forget the past are condemned to repeat it".

I'll go with this and I agree with it.

Central banks are printing money as they want too already causing their currency to go down. Investors want to hedge their money that is why they are investing some of it into Bitcoin hence the price of Bitcoin increased this past few days. Not sure though if this is what the investors are doing. They are using Bitcoin for hedging.

   Bitbunnny you are right when you say that situation can easily change. It's something we need to be ready for in crypto-currencies.
You are here longer than me, and you see more changes than I did, and I seen a lot of them. The prices are going up and down, coins
replace each other.
   One big change from these days is Link price surging and overtaking Bitcoin cash as the 5th largest crypto-currency by market cap.

you are both thinking about the end of 2017 not the beginning of it. or mainly the end of 2016 and start of 2017.
at the start things were actually pretty similar to these days. price was creeping towards the previous ATH of that time which was a little lower than $1200 and it was struggling to break multiple resistances since many kept cashing out and created sell pressure. we even saw a couple of crashes before the ATH was reached and broken. it took about 5-6 months to stabilize above that ATH (ie $1200) and never come below it again.

This is not quite true. Yes, we had increase although not that sharp and then decrease but a light one I would say. Now it seems that we have some semi stable situation but that can easily change and to my opinion further corrections are possible although I don't expect to see some big drop. The price might touch 12000$ but to my opinion it will not cross that line so.soon.

When we do saw where other markets are on red and this market is somewhat green then we can presume out that there might be some funds had flowed into this market but we can make out conclusions but
we do know the possibility.If not the thing we are seeing then that simply means that people are converting out their investments to fiat, for whatever purpose they do have in mind neither they are just waiting
for some opportunity or just simply cashing out just because they are on need specially now on the current crisis situation.For price talks about sharp increase and decrease in price.
Do this particular topic or behavior of price is still surprising? I guess not.

One possible scenario, or traders pull out some funds to shift to altcoin market, or to pump some shit coin to make a quick buck. I'm looking at the traditional markets and almost all of them are red as well, could be some correlation with bitcoin though. I'm not seeing any commodity rise as well, only Gold, Silver just 1%. So where did all the money goes?

We will see, maybe crypto traders just liquidating some and definitely will invest again in this price correction. So $12k again will be the next target.

This was semi-correct. We did see a sharp increase, and we did see a decrease. I mean it wasn't as high as imagined or it wasn't as low as imagined but it was still high enough and it still did dropped. I think from now on bitcoin doesn't look all that well and strong, people did invested into bitcoin when things were bad because they believed it was a great way to get away from the bad economy and they did invested, however looking at stock market for example (most common investment I think) there were things that recovered almost as well as bitcoin as well, some even better.

So, I believe people are moving back to their old investments like stocks and gold etc because they believe it could be basically a great way to make even higher amount of profits when the economy recovers completely.

Prices are moving in 11K region and it looks like another accumulation period for the investors which is just before the real bull trend of bitcoin market. I am expecting the prices to go further more in the coming months because once corona gets cleared people will be looking for assets who cashed out earlier this year.

Fundamental factor gives a lot of thing for the movement price of bitcoin, the trader will see the fundamental first and looking the analyst before they set the entry position between long and short.

Because the fundamental will give a big affect for the sentiment market, like what has been happened right now the price of gold is currently fall from its all time high and this has given the same effect for bitcoin's price movement.

As we can see now bitcoin's price has been decreasing for several percent. But it may a retracement only, we are still in the strong uptrend as long as the price doesn't touch $10.500 because there is sign if bitcoin's price touch $10.500 there will be an indicate the bear market is coming.

No price is safe though, it is still possible for the price to drop at $9'ish or push it to above $12k in the coming months. There's no news, but what if someone created another FUD and pull the price back? Just thing of that scenario.

As for the higher highs, we will see, $12k seems to be not sustainable at least for now.

To much speculation has been dropped that's why people came to the point on giving this though's and I can't blame them to think this way since there are so many bad dumpashappen before. But since there are so many good things happening right now and price remain to the current level maybe we cannot see those sharp dumps and we will provably see a price pump back.

Currently, the price is actually in the $ 11400 range. it's just that, I don't think the possible reduction in price will be as sharp as speculated. I'm pretty sure that the worst price drop is just ending up at rage of $ 10k, it's just that it's still quite unlikely. I quite believe that development after this is an increase in prices. currently, quite a lot of altcoins are developing.

Bitcoin has got termed to be the hedge in the pandemic due to its speculative factor. As expected there isn't much of speculation, but the real growth is experienced good during the pandemic. As the entire stocks and shares keep falling the price of bitcoin showing an increase is termed a manipulated one by people who are against cryptocurrency.

What we see in the market right now isn't a price correction, it is the gradual price movement. If this was a correction we could've experienced a pullback at $11500.

Or it's just bitcoin becomes the hedge in this pandemic that's why the prices keeps increasing even though there's just a few minor news, like the Grayscale and some other companies like MicroStrategy also getting into bitcoin. And there's this movement from altcoins as well, Defi, IEO that somewhat brings crypto closer to average joe.

And I would agree that in order to move forward, we should get into this healthy corrections, like what we seen bring it down to $11,300-11,400.

Then how you do consider on what happened when we dip down in 3k way before? Theres no major news or some sort that drive out the market that low this is why im not really that much confident if we do

talk about future low prices because market can go down on numbers that we do least expected.7k isnt too far off to go down and on the current price as of today then its heading go down to 11k price and

might even continue.In a healthy market there would be always a price correction because we cant just see that it would have that continuous growth of its price.

I doubt that 7k levels are even possible anymore in either this quick of a time or without anything huge happening, I mean at this point I doubt that anything major would happen at anytime soon, which means that in order for the price to go down we need to just wait. Either it will go up or down but for the next month or so I do not think that 7k would be reached.

So long story short price could definitely go down but not to 7k prices anymore if you ask me, it would probably reach to 9k levels at the very best cases (well worst for long ers and not shorters) so if you are waiting for a down, I would say that at around 9k you should be buying, at least if not going all in (which is not advised) go half in from that price, that way you would be profiting when it goes above 10k.

theres a slight different from 2017 because the increase right now is not high enough but it retains  . 2018 was a dump year if i still remember which is differrent from this year because earlier this year we already see a growth and it rested for a while but here it goes again .

many good news arrived last time and that triggered the growth  but there are also bad news but that didnt make the price go down  . news act different now when it comes to bad news

Sure. I only asked what you meant because you didn't provide any target or analysis. Got a chart for us?

If $12K was the top, I could see sub-$9K too. I'm still not sure if $12K was the top though, so I'm hesitant to speculate too much about potential downside.

One way or another, the current period of the cryptocurrency market is very different from 2017-2018. No matter what news comes, the market will react differently anyway. A certain stability of prices to date, speaks only of strong support from large investors, therefore we can expect better results even before the end of this year.

Dollar Cost Averaging LINK
$10,000 which is the previous very strong psychological support is now the very strong psychological resistance as of this moment.

Yes there is nothing major fud or news that is happening right now that is enough to trigger the market. I believe that the money that is coming right now are coming from the rich people and various institutions that have spare cash to buy Bitcoin and there will be a time that they will dump it to have some profit causing the price to go down for at least a month before a major rally towards the $15,000 to $20,000 will happen. This is just what I've heard from the famous analyst that I've been followed for a long time already.

Yeah, total noob. Just got into it a month ago. Learned about ATH and a few notions reading conversations here. What is DCA?

Sounds reasonable to me, don't get why people still think we'll be going down that much naturally without any major fud triggering the market to decline. The market has been very bullish and it's just a matter of time before we tested the $13k - $15k trading price. I think the strong support at the $11k trading value would be able to hold bitcoin trading above $10k for a very long time.

This is just a repeat of what we experience with the price of bitcoin trading within the $9k value until the spike took it to the highs we'll recording now. The increase is more certain than the decrease, that's just my take on the discussion at hand.

Hi everyone,

I am just looking to build up my wallet by increments of a few hundreds. I put in 3000€ via a site called Bitstamp. I noticed it can go from that to 3600€. Should I convert to euros now when it's still at 11800 and buy it back when it hits 10000 or 9000?

Back to the previous range, if it went 12k to 10k and then repeated that'd be not even especially bearish by itself but 2k is a good trade.    Still seems to be keeping its head above the waves and has to be taken as bullish I think.   If we can form some kind of lower high then we could speculate that will let us break down later.    I would guess we are going to be in a range again and lots of guessing but not that much movement.



Its not exactly neat but it is rising, be negative when it breaks 10500 might be the safer thing to say

Good to see you back. You still sound bearish. Sizable downside, to where? Still aiming for the $7,000s?

Nothing is official until the June 2019 high is broken, but the break of $10.5K is an early signal of a new bull market for me. I think we'll see a test of $10K again, maybe a short-lived wick into the $9,000s but ultimately I don't think we're returning to the May-June trading range again.

Are we ready for the sharp decrease yet, seems it never continues either side though I'm going to keep expecting it to go down tbh because we've left the trend and last time I was waiting for this it took its sweet time happening also and we did fall big eventually.   A few times its done that, anyway quite a large reversal today which I was watching for yesterday also tbh.



So its not an engulfing bar or anything neat like that.   No new lower low even within recent history and we should be waiting for the daily bar to close but I think its below stall speed which is enough reason for speculators to do their thing and pull money to a more attractive price point.   But maybe the OP idea is not complete yet, I think its done enough upwards and tried enough times already.
9236 just so happens this moment thats a good level to watch to pivot either way on this move today towards substantial or not.

Which will likely take 6-12 months before they can test their version of cash app and another months of bug finding.  Many PayPal users could be buying BTC yesterday that made the spike and then the drop happens.  Many speculations about what Paypal would do because they are hiring blockchain engineers.  They might just have their own blockchain for USD for the Cash app like system. If it seems the case then it might not be a catapult.

I'm not starting to see an argument for $10.7K rejection, based on the bull channel (that I recently adjusted to draw from the 3 points of support):



While I still believe that if $10.5K is broken price is more likely to sail to $12K in a hurry on high volume due the ascending triangle target, admittedly this bull channel is a more accurate pattern than the very much imperfect triangle with the fakeout that previously occurred. Bull flags aren't as likely to break to the upside as ascending triangles either.

Either way, a rejection from this level would be one hell of a bull trap, and we all know Bitcoin likes to provide considerable bull & bear traps that only hindsight can see.

I hadn't heard about this, thanks for pointing it out. According to Coindesk:


So basically replicating what Cash App has? Probably a smart move. I'll admit I was surprised at how big BTC is for Cash App's business. Paypal might have taken notice and doesn't want to fall behind as far as P2P payment app features go.

I agree that official news of Paypal integration after all these years could provide a catalyst for a pump. However if they are just now hiring engineers for this, they won't have anything ready for many months.

Well, we have tried to go above $10k too many times and we have managed to go back down under $10k too many times again, this has happened millions of times so I can't really say I would be shocked if the price doesn't fall under $10k again the next time we move beyond it.

However I think this time it is getting a bit harder to go beyond $10k because the attention is not going towards higher levels but to prevent going lower, and when there is so much buy orders between now and lower you know that people do not want to get low once again. This means if we go beyond $12k and $15k levels that means it will be a lot harder to drop down and that is awesome. However do not forget the power of people who are shorting as well, they have the cash to drop the price very quickly as well.

If the recent news about PayPal become true then there's a chance we'll see 15 thosand this year. It's really difficult to predict anything because Bitcoin has its own way where the price reacts to some news and ignores the other and all that people do is try to explain the price action after it happens.

An example of it are crosses on the charts. When Bitcoin reacts to it every single analyst says it's because there was a cross on 1h 4h 1d, and so on. But sometimes it completely ignores crosses.

And just like that, we're back above the 50-day MA again!



Stocks go up, Bitcoin goes up. Not much else to say, really. The S&P 500 made a big bullish engulfing throughout the day, right back into the previous range:



Head fakes everywhere.....

My thoughts exactly.


We got that third close, that for me confirms the 50 Day MA as resistance. It's an awkward situation, there are clear and distinct macro sized bull flag / bullish ascending triangle patterns, but other indicators such as the 50 MA, as well as the RSI, are pointing towards a bearish correction, that based on past data could indeed go quite deep - even if it doesn't need to. Chart patterns are not in confluence with traditional indicators, at current price levels this isn't the time to be going long or short imo.

Closing today below the 50 Day MA ($9,400 ish) would be even more bearish, but closing above it, followed by moving above $9,600 level (last weeks high), would return most of my bullish sentiment on this time frame, without needing to break $10K in a hurry either. I think the consolidation could last sometime longer though, based on recent price action moving sideways, but we appear to be getting closer to a decision, slowly but surely, no doubt with a few more fake-outs before a genuine decision in price movement.

That said, the Weekly candle didn't end that badly. Many were expecting bearish follow through after the drop the week before (such as myself), but it simply didn't happen.

---

+1 for the contribution and your accurate prediction so far however, that of the ascending triangle

That will be as per expectation because all we need right now is breaking $10,500. I'm not expecting there should be few more people still left from booking profits by having targets around $10k levels because only due to those kind of traders and investors we are having $10,000 to $10,500 as the biggest psychological resistance levels. Once those people clearing off their position then we can easily keep moving up.

This was exact my expectation after seeing this June month started with bitcoin prices above $10k levels but things are going complete unpredictable due to ongoing pandemic. Consequences of halving are yet to be experienced; but, we must need pandemic hassles need to be settled down before that.

If anybody got that power to foretell me on exact numbers then probably I will try to compete to get listed on forbe's list . Do not be tired on seeing range bounded market; if you find skills to make use of them on your trading then you must be the happiest person for having such a market condition.

Well something close to your prediction ,as we almost fall to 8k$ level that time but lucky Bitcoin price sustain holding $9k.

How many times do we need to look down when there are some views up?

---

Bitcoin may not fall under 9k again because we are now sustaining the level in which what the Halving of 2016 brings in this same season.


This seems to be legit and yeah after multiple up and down at 10k level?possibilities are there.

I'm in this camp. If the market breaks above $10.5K then yearly resistance will be broken; shorters and sellers will pile back in; technical traders will begin favoring the long side; investors sitting in cash on the fence will buy back in. All of these point to strong upside momentum. In my opinion, the chances of failure at $10.8K are quite small. It'll be clear sailing until we get into the vicinity of the June 2019 blow off top.

If the June 10th pivot at $10K is broken, that will likely trigger some panic buying and we could see a break of $10.5K relatively quickly. I'm not sure how likely that is at the moment as the price action on the daily chart isn't particularly bullish.

We're about to get a 3rd daily close below the 50-day MA, hinting at a bearish mid-term trend reversal. The last time this happened was in February shortly before the crash to the $3,000s. Before that, it was in November 2019 before the month-long downtrend from the $8,000s to the $6,000s.

There are some analysts who predict that if 10 thousand gets broken once again the price will not stay there but overshoot by more than OP is predictiong. It could be 12-15 thousnad this time.

It's very possible that this move will be followed by a sharp correction, just like OP is predicting but a small move right above 10 thousand would break the long term bearish resistance that stopped Bitcoin at 10500 in March, 10000 in April and again 9900 in June. Closing a day above 10000 today could start a FOMO rally.

Right now, we are neither seeing a sharp increase and we are not seeing any decrease neither, nothing is happening and it is scaring me. I have been involved with bitcoin for longer than most people and I can honestly tell you that I haven't seen it staying this still for a long time, maybe on the early days it was like this for a while but ever since 2014 there wasn't much standing stable for this long without moving much.

Definitely there was stable times before but it was usually 200-300 dollar level of spread between the prices, so if it was like $9.2k to $9.5k movements between each other I would totally understand but the spread dropped down as much as 50 dollars nowadays which is unheard of in at least 3 years and probably more like 5 years. Let's hope what OP said will come true eventually.

This is close to 10day that you make this prediction but bitcoin has not do well. It has been limited and trap down in a range tend. Bitcoin is moving towards were we have been having bad market and that is in July and August of months years.

I thought we already had the sharp rise, I did daily bars on this but the OP chart you can see start of June its sharp because it declines right back down again.   We since went sideways alot so now people unsure, I think its tired and needs some reset to occur.



I've not drawn in the trigger point or the support that might fail but its quite obvious how often we've formed lows in this area.   Add in the 50 day MA, its not a situation we can ignore without apprehension.   Various time frames always differ in bias and I cant judge so well further out till I see strength tested and we've done little but imo we've wasted enough time idling here.

There is no sharp increase in the past week,so where your predictions comes from?

Price is likely to stay in $9500 for few more weeks then only we can find whether it will move upward or downward but it more likely will go upward since it has not such bad news to pull down the prices.

From the view I have I think price is still going to be up. A daily time chart is still showing a positive movement up to above $10,000 but until after this week for that confirmation to clear up.

Good to have a plan but why would making a new high be a time to go short or take a negative bias especially, reasonable to guess but I dont see that signal as a reason its going to go down.     I was just looking back to Feb for how it left a bullish trend then and what did daily bars look like before it processed from positive to neutral then negative.   Far quicker a process then we've had recently but perhaps its a good reference for brevity



So within up trend, a decline and leaving trend, green bar up to recheck prior trend then quite a sharp reversal down that encompasses the entire green bar up.   Back to the prior decline line, now some kind of support.  Now the important point is the series of lower highs, each attempt has less energy and we finally lose altitude as the breadth of the market recognises a downturn.

   Obviously we had the virus news so its more defined then now where nobody knows, however its similar pricing and fair reference.

what you drew on that chart can not be considered a "sharp" increase, it is barely a regular increase even though it is above a major resistance. an actual sharp increase should be much bigger than that to at least $11k and if that happens there is no coming back from it since it will start a chain of events that brings back a lot of the investors that are currently waiting to jump in which would then make the rise even bigger.
additionally even if price went to a little above $10k the drop has no reason to be to $7k!!! such movement makes no sense at all. at this point $7k can only happen either if someone dumps a very massive amount of bitcoin or some major negative event starts.

Definitely we can still jump over $10k barrier as we had surpasses it already but just to figure out that it won't be that easy this time knowing that the economic situation of the people is still not in good shape. We are still facing the pandemic sentiment which also is a barrier for crypto to grow as investors are also worried about. May we see a huge market uplift someday but just like a normal scenario, it will fall down back again and have a repeated scenario all the time. Until this time, we can assured for a bullish season or might take into a hard bearish movement.

The price action itself on higher time frames is neutral, not bullish or bearish in particular.

What worries me is the simultaneous and sizeable drop in both stock markets and BTC on Thursday. That has me sliding back towards my March/April outlook, that the mid-term outcome for BTC is tied to stocks and the global economic recovery.

Sentiment in both markets has been moderately bullish, so we shouldn't be surprised by a significant bearish shakeout. Thursday's drop in the S&P 500 was the worst seen in months, indicating that investors may be getting weary about the recovery and the uptick in COVID-19 cases. This could be a bad omen for BTC too.

Actually right after the fake 10.4 I thought we were really going to see another fake one too just before the weekend (before your thread), but as it turned out 11 dollars shy of 10,000 on Thursday.

Got to agree with exstasie here, that right now, it's highly unlikely we get another fake one with a higher limit. If it breaks and stays above 10500 for even half a day, we'll be seriously unlucky not to see 11k. Shorting at this point, be prepared for tight stops, OR to wait another couple years for the next major retracement post ATH -- in which case you'll miss out heavily!

I remain optimistic about the direction of prices, and as long as the price remains high above the $ 9,600 barrier, a rise to above 10,700 is likely.
Support at $ 9200 was helpful in stopping losses to the $ 8,000 range and backing to $ 7,400, we have a Direct Downtrend that (50-day SMA) support. trendline support remains intact.



Bollinger Band 1-hour middle, the Fibonacci 21.6% one-month, SMA 100 4-hour, and the Fibo 50.8% one-week.

The key to falling is a rally down $ 91,100.

I just hope it happens. There a lot of speculations that the market will be bearish again. Even from my charts i can see it. But it should happen fast so i can invest  and get good profits.

Recently we've already seen quite sudden rise and sudden fall after that. It wouldn't be a surprise.
Even if the price goes up I don't think it will go all the way to 12000$. Resistance at 10000$ is very high.and even if the price breaks it the question is if it will nanage to stay there and rise further. I don't think so, it doesn't seem very likely to me. Probably another fall.would happen.soon after the rise, if it even happens.
To my opinion price will continue to fluctuate in.current range and there will be no significant changes until the end of the yea, at least not those who would last longer.

We already had one upside head fake to $10.4K. You think we get another one to $10.8K?

Seems unlikely to me. $10.5K is monthly and yearly resistance. Between all the time spent distributing below it and all the stops that will be run when the market goes above it, there's no way the market stops $300 higher. At that point I'd be targeting the upper $11,000s or $12,000s at least and I wouldn't be gambling with shorts at all. That's like shorting in mid-late 2016, quite dangerous.

If bitcoin pops to $10700 as swaystars prediction, I'll just follow his move and will get some profits at that level. And if it plummets to $9000, I'll push and use those profits.
It's going to be another roller coaster for sure.

I can see the long and the increase but I do not see the decrease after that. I have been around in crypto for a long time now and I know that almost every single long and increase eventually leads to decrease so I think you could be potentially right. But that doesn't change the fact that I do not see it this time around. Maybe it could fall, maybe you are right.

I just feel like the increase could be a bit quicker and a bit sudden to just suddenly start dropping right after. Instead of slowly going up, I can see it going to $12k levels very quickly in a week or so, and after that crash in a day to something like just under $9k. That is at least what I can read from the current charts and how the crypto world is going, but of course I could be very wrong as well.

Long is likely correct at present but move the stop or have a trailing stop loss.    BTC constantly spins in circles, its no where near to confirmed negative.    We did not touch what I'd see as the first objective down, I dont see that means its strong just its going to do that in future.    Repeat repeat till you believe it'll repeat again then it doesnt :p

Challenged trend but not to prior lows or the blue line roughly on this graph

x