Bitcoin Forum

Short term high target for BTC reached. I'm expecting some selling pressure right now. Don't get me wrong. I'm forever bull on BTC. But now we've entered in a small selling wave in my count.

What goes up must come down, How far is the question we need to ask. Its shot up a fair amount since i went to sleep last night and now appears to be dropping back down some but who knows, maybe it will start going upwords some yet.

Its a bull trap..  wait for another 2 days, a mass of bulls are coming..
Target for this month 750$ ..

Thste high? How come that you are so sure?

Looking at the present spike in the price of bitcoin, now I think that anything is possible, may be we can reach $800 at the end of this month or even before that.

Well I think by the end of july bitcoin can touch above 1000$ so im holding it for now and watching. If I ever see a price fall ill sell mine immediately the rebuy again.

Have to get past 4800 on Huobi first before the real fireworks start. Could be an interesting 4th.

I agree that it can't keep going up in the sort term. There will probably be a correction soon and then later in the year we will see another more steady increase. It's just gone up too fast for it to sustain in the sort term.

This is to be expected,  and the slope of this rise has my intestines all aquiver.  People should sell and take some money off the table.  It wouldn't be a bad thing if we got stuck at another plateau like the $430 one we were at for months.

That is true, with current price now those who invested a month before have already enjoyed a great profit now. This really great for the risk takers as the halving effect is really happening.

Aside from halving, they said that its the chinese that are buying btc's that it help push upwards the bitcoin price. Those who are for short term traders,  or those who buys a month ago are on real profits now. Im still hoping BTC will gain further.

It would happen again and another skyrocket by the BTC in the next few days. I believe the price will still rise and the halving effect is in the air. Buying now is a good option because the price is falling so you can wait until it will start rising again then buy.

For all we know the price its at now might be quite cheap compared to what it settles down to after the halfing.  The pump may have just stopped Temporarily to push out weak hands and then continue afterword.  The more people they can get to sell now the easier it will be for the next pump.

I agree with you, I still believe that the hype is around. Maybe the dump on the coin we see is just a normal marketplace transaction and trade volume that happens everyday or if not Im still hoping that its just some users trying to secure profits.

I believe there may be only 2 scenarios that will play out here.

Scenario 1 is as my above post, a shake out to get rid of weak hands followed by a continued pump once the time is right. This is a pretty good way to go.

scenario 2 is that the whales know fine well that a majority of people here are wanting to get out at around 800-1000 dollars,this is no secret. now the whales aren't stupid so they know they cant allow it to pump this high or else everyone will run off with their profits, so the price will never reach this high. The target was met and we are now either stagnant or on the way down.

Your 2nd scenario seems reasonable for big whales to dump some coin before it hit specific price for people who's waiting a specific number to sell. But Im still hoping that this what we call big whales does not dump the coins price that much.

Regardless, the price of bitcoins trend on fall back and rising is way more different. When the price rise it is like skyrocketing but the fall back is slowly so that could mean that the rise trend is more dominant and with that being said we can still witness the price to rise again.

Yes, in July - August BTC price can be ~ 750 USD, price go up due to BTC mining difficulty. BTC buyers are more than sellers.  ;)

I suppose it is possible that the whales have eased off with their buying pressure so they can observe what happens with the price,  as you say since price is only slowly dropping and not just s massive dump then they might add back buy support to try the next target they want to reach.  800 dollars maybe?

I am discouraged by the rolling down of bitcoin price. I hoarded some of my bitcoins thats left in my wallet after withdrawing some. I am leaving a significant amount for the hoarding. But this morning when I opened my wallet the value goes down. I hope it will not go down anymore. If it does then all I have done has gone to waste.

What comes fast goes fast, i think that bitcoin price was really pumped last weeks and it was really high (~190 USD) and now the price is getting back and maybe lower than $600. Maybe because of this selling pressure the price is getting lowered, actually now the price should be increased before the halving.

It seems to me that if Friday did not hit $ 580, has a chance for another move toward $ 960 - $ 1,200. Much depends on how the markets will be affected by the news concerning Brexit.

Now the price of BTC shows inverse correlation to ETH. After the recent black hat DAO attack done by last Friday, BTC prices doesn't effected much and even increased in price for a while. Yesterday counter-attack held by white hats (mostly Robin group) gave negative effect on BTC and selling pressure. It could be a reason attacker hold many BTC and shorted ETH and long the BTC. So now ETH/BTC charts become so important. Anyway, I guess BTC entered in a channel of 500 to 700 usd.

Hm.im also waiting for that to happen but above $1000 now seems impossible to reach by the end of halving maybe $900 closer is good to be.

as long as we are above $470 it will be ok. After halving anyway it will explode to the upside. However it takes at least 6 months for this big upside move. Sidelines and maybe slightly below 470 could be possible and should be counted as a buy opportunity.

It cannot be determine with months because bitcoin is so surprising that even it goes skyrocket in the past days and now it is beginning to go down again. With the halving, the price is expected to rise again and this is only made for people to panic and sell their coins to make them regret in the end.

Yes and I think long term investment is the best thing to do at the moment, we will never know what is going to happen after the halving. The masses are selling their bitcoin because they want to harvest in volatile changes. However that is not the right decision or may it is the right thing to do.

Success in trading, as in other high-performance tasks, requires the ability to master your fears and other emotional and behavioral responses to stress so that you can develop workable processes for profitable results in the face of the uncertainty, change, and complexity of the markets.

i expect the halving will still have the largest impact after the halving.

not immediatly after the halving, but a few months later.

If you are too afraid to lose, you shouldn't be trading. You could try the bitfinex swap tool. From what I understood it uses your deposit as leverage for other people and pays you a small interest each day. The profits are small, but it's safe.

I think it is like that. I'm sure halving will give a nice effect for prices in bitcoin. I think the price decline bitcoin now is the right time to buy. yeah this is a good short-term profits

The decline is not that big and the price is now starting to go up, I hope it will continue in the succeeding days and for those who wants to earn in short time, this the time to buy before the price will pump again.

$470 seems high enough but if it's going to be lower than that, I don't know what will happen in the volatile system of bitcoin. Such unpredictable scenario is happening right now, but I guess it is the good time to buy bitcoin at the moment.

Less fear will leave room for greater intuition.

Well, the current price right now is telling us to buy more bitcoins, this will be great when you believe that halving will bring the price to back up. There is no bad news about bitcoins in the community so the price will have a major improvement in the next few days.

Each sell off for me is an opportunity to buy more bitcoin at better prices.  storing for the massive increase to come.

Some people think that prices go up because more buyers exist than sellers. This is not true. The number of buyers and sellers is always equal. Every trade that takes place involves one buyer and one seller. At the end of the day, the volume represents the total number of BTC transacted; this is equal to the number of BTC bought and the number of BTC sold. The quantity of buyers versus sellers doesn’t drive the price; it’s the relative desperation of those buyers and sellers.

Good luck with this strategy but i personally think this high volatility period is good for day trading buying and selling for profit in same day.

the price right now isn't that stable. just look at the charts to get an idea. within 12 hours the price dropped from over $650 to $621 and went back up to nearly $640 and is now sitting at $633. if you know how to do day trading, you will make yourself a very nice profit. and btw, how the market is today, it has also been like this the last week. it goes up and down all the time.

in my opinion thats the best thing to do at the moment as bitcoin price will start fluctuating a lot in the near future then there will be good chances to trade it

i myself just buy some bitcoins at the moment in order to be able to spend it in the future or just sell it for fiat and that would be it, hopefully i will make some money out of bitcoins

Even though in fact bitcoin price never stable at some level price but not easy to get profit in bitcoin if they range of movement in a days only around $10

Exactly, especially when you have only a little amount in doing day trading, the best way to earn is hold longer your bitcoins and when you see your goal is already realize you sell it automatically. However, a short term investment is good when the event of halving will hype up nearing the date.

It is quite to do short term trading and win long term. I think it is better to hold the bitcoin for the long term.

Short term and long term are both fine if that fits your method in making money. However those who are not expert in the short term investing or trading we should do the easiest and safest way to earn and that is holding your bitcoins long term.

Long term always can give you a profit if you can be patience to waiting until the price rise and i think maybe long term and holding is same meaning in investment but only different word.

I have hold the bitcoin for a few years. On average, I have made some profits. I think the price will rise again.

You are right and that is back by the history, if more investors just believe that bitcoins will be this big then in the past then they are already millionaires now. I believe our time will still come as bitcoin now is still in its early stage and we have more room to grow.

Increase and decrease or inflation or deflation on the bitcoins price if thats what you mean is always happening and almost everyday. But if you say a substantial movement of the market price with a huge range or difference then it is a rare event that comes not regularly. But i believe that bitcoins will still go up adn go up and go up. So good luck investing.