Bitcoin Forum

Though price reaches to al low as $9.9K, price still gets well supported above 10K, if BTC can't break upwards, is it gathering momentum and get itself ready for next round of uptrend?

Feel free to leave your comments below.

I myself feel that the recent run to $11k was nothing but to show that the bulls are still around, just waiting for the correct opportunity for a push. Neither the bulls or bears are in control right now, so it's truly hard to determine what direction will we be taking in the coming weeks. The recent positive news didn't really help bitcoin to go for a push; it's still left hovering over and under $10k for quite a few days now. Momentum from both sides aren't present, so I'm still eyeing on lifeless weks ahead.

seems it is going like 2014 now , the market is take control by bear now .  we have to wait for another 2 years until the next halving.

I can see that bitcoin might hit higher than 11.6k usd as of now probably the best price of bitcoin after the big dip. Because the bearish market is exhausting and we might see a big uptrend next week or something.

so far bitcoin doesn't show either sign for moving in any direction :D
it is stuck between $9500 and $11000 and may not break free for another month, the rise may have been a sign that bulls are still around but it was also a sign that bitcoin is not completely ready for the next round of rises.
the same was true as the price fell below $10k. there is no enough dumping to push it any lower either.

That may be the case.  We had a long period of stagnation before the last halving so this is plausible.

The next halving though I see it going 10X plus what it is now.

Two years though. 

Two long years...

In all honesty, I don't see any reason for the market to rocket up any time soon. In that regard, I would probably be a little more conservative when it comes to the slow weeks and probably months we still have ahead of us. These times are great for people looking to accumulate coins over a longer period of time around more or less the same levels. By the time the market is ready to take off, you will have enough coins ready to benefit from the next boost that might be related to either more Segwit adoption, or even LN. I personally consider the latter to be more of a trigger that will lift this market up to the next level. More future markets won't do it, an ETF probably won't do it, so it has to be LN one way or another.

Yeah, even the rumour mongers at the usual Merkle/CCN etc hideouts can't seem to get anything juicy on their plates these past few weeks. Just the recycling of same stories, clarification of previously reported happenings. All threads that are running on their last legs. If I had to guess, there are some quiet undercurrents that a lot of ICOs from last year will be dealing with, and with GDPR implementation coming up in just over 2 months, there might be quite a bit of scrambling before some major announcement from continental watchdogs.

That's primed for a May/Spring movement either way, but yeah, there's really nothing to pressure the price away from 10k, think Bitcoin's really sprouting roots out here now. I'm ready to be wrong though. Perhaps regulation won't be as impactful this year.

SW and LN will likely take a lot longer than we're expecting... end of the year or autumn even. And that... that will really bring back some of the lost herd.

I thought the markets were going to range for a couple of months after that nasty correction in January and it looks to be doing just that. I expect a BTC breakout at some point, but I think that point will coincide with Lightning Network activation. I say this because Segwit just got added on by Coinbase, if the sphere was bullish it would have already taken by now. It seems we are hesitant and will remain in limbo for a while longer yet.

It seems to be in a bear trend at the moment, and it seems to be testing resistance levels around $8,000 and $12,000. I believe it will continue to drift lower for a while, and then pick itself up in April or May.

I'm fairly new to modern chartist theory, so please don't consider my post to be an informed opinion. :)

I agree, I feel like we're in some kind of downtime right now. There isn't much new news hovering around. Once something like a large government comes out saying that they'll accept bitcoin for something important like taxes, it's likely that we'll be hovering around the same 10k price range. I agree that future markets, something like an ETF as well, wouldn't be able to change the price at a major scale. It needs to be some news, either good or bad, that influences the price.

I would actually venture to say that I'd rather take the chances of having bad news come up and buy even lower than this current holding spot, because while it's lower, I'm much more sure that the price will rebound.

After every correction, there seems to be a decent hike. Just look at current correction. The price went down to $6K. It stays on and around this figure for more than 2 weeks. Then yes, the price started increasing / resuming back to $11K plus in 10 days. Almost $5K increased or recovered back in 10 days. Now we can again see around $1500 dip in last three days. I assure this will contine to dip slowly reaching $8000. Once it reaches $8000 around, there is going to be a bit high spike hitting around $15000 in a week or 10 days time. This is the ratio i could figure out and bring to the screen. Hope in 20 days the price stays at $15000.

I feel the push will happen in the middle of this year .. because this is the impact of the price turbulence is very significant .. of course we all know in the end of 2017 bitcoin prices are very spectacular ,, and I feel that we would be more appropriate to go in altcoin

Same here. I was actually quite surprised to see the price break through $10k that easily. My plan was to use the funds left from securing profits last year, to keep buying below $10k for a good while, but the quick recovery spoiled my sub $10k sale shopping spree. I just bought myself some coins, and plan to buy another batch once the price dips further. My guess is that if $9500 breaks, we'll be up for a test of the $9k level, and if that level doesn't hold, then sub $8500 will be the next target. It's a little bit early to speculate about a further decline, but it's not impossible without any new developments as you pointed out as well. Either way, having fiat aside that you can put into action is always the best feeling in these situations.

Haha nope, nothing even close to that is happening now. 2014 was so full of FUD and the GOX aftermath that it caused a lot of mining operations to go under. People lost so much money that many of them gave up completely. It was a year of crap that later created another year of crap (2015) with all the slik road auctions, jailed bitcoiners, and no acceptance or support from any country. Now we're in a completely different market where most people are certain that this is going to be big in the near future. Even people from Paypal are saying that BTC is changing finances. No long bear trend this time. We'll either go up from this 9-10k level or go back down to ~7k to confirm the bottom once again and launch from there.

Nice picture you got there but I agree that we will start seeing a bearish market soon if buy supports has been broken. Still, I believe that the bearish trend would not last because btc today is different than it was in 2014. Unlike at that time, bitcoin has been legalized in some countries that helps in generating the demand(buy force) needed to counter the selling of others who wants to take profit.

I think there will eventually be a big breakout once the price stops at a support level. The charting experts can shed more light on what price that will be and when that could happen. I think it is inevitable though that at some point, there will be a lot of momentum upward. It could take a few months to get to that point so we just have to be patient and hold or even buy.

i disagree because you are basically saying that in the next two years nothing positive is going to happen to bitcoin and there will be no rises for that time without saying why and that doesn't make any sense to me. bitcoin is not in a bad place to go into a very long bear market and not come out of it.

Uptrend is coming after this recent slide of bitcoin most especially if people have already learned in the past the significance of hodling their crypto assets during times like this. With less people who panic sell their crypto assets, there is a big possibility that it's not hard for bitcoin to rise again and reach new high value.

We're going to test the $9k support level for sure. I doubt that we'll be able to get above $10k within the week.

Probably still going to see some panic dumping because people seem to feel like BTC's got no room to grow again after this current crash. I don't think that it's going to be as big as a dump in January, though.

This dump is mostly still caused by profit takers at the $12k level, which makes sense. Honestly there is nothing to worry about and I still see BTC stabilising at above $10k for most of this year, after the price recovers.

One would think all persons who wanted to sell already did? right?
Still on a crossroad though, I'm curious what next week will bring!
Personally I also think that the momentum is still good for btc, compared to 2014, however no ATH expected for first months.
But then again are we all disillusioned by previous 2017 year growth?

Yeah right, those who want easy money takes profit at that level and I think it will take more time for bitcoin to bounce back at that level, I believe it will not lower than the support level again. Lest see what will be the price at the end of february, looking forward for un uptrend signal with bitcoin.

I guess most of us are delussional because of the previous performance of btc in 2017, and somehow it affects the way others set target price in a speculation. Nevertheless, I think bitcoin will not have a new all time high in the next coming months too, not just in the first  months. I expect to see new all time high as early as octoboer this year and as late as 1year after the next block halving.

I see this as just the market not knowing what to do, the price cannot go up because there is not a reason for it but the price cannot go that much lower either since there is not a justification for it, so we are going to get weeks of small fluctuations like this until something big enough pushes the market, this can create an increase in the price but it can also have the opposite effect if FUD begins to be spread again.

December 2017 brought a lot of money in the market and make most of us millionaires. And so as the start of the year, everyone is thinking that they can repeat that performance sadly though bitcoin stumbled and up to know we are not bouncing as every is expecting.

Yes, the halving is another factor that can increase the price for this year together with Lightning Network's implementation. Of course every year all-time-high is being set. But it will take several months before we can see it. Right now its still below $10K, so I'm looking at above $10K as reasonable price at the end of the month.

In my opinion, it surely is having momentum but still deflations are expected due to its volatility in the market. The best thing to do is to continue holding and investing while its market value is low. Its price already began increasing recently which is a good sign. Once it again starts to increase, profit will rhen again earn. Eventually it will break the barrier in between 15000 USD and hopefully will now reach 20k this year.

Strong support at 9K levels suggests that it will have a push soon,but I still do not know up to what level. I supposed below 12K is a good point of the next resistance just like how it tested that level a week ago.

So long????

We just need to wait, once BTC gets to launched again in other countries, it will be a hit again or if no mure FUDS will about to spread soon btc will be on uptrend again, there just too many government issues that each governments dealing with crypto thinking that can manipulate which they not, at the end we will just let it used by their people, so have patience until then.

The BTC price movement right now is pretty much the same before it hits $11.8k from the past weeks. This is called the consolidation stage. The whales are buying at this level from those who are selling cheap. We had a higher low compared to the $6k that happened on Feb 6 which didn't stay long and have a strong support. This time, if we can't go lower than $9k, its probably an uptrend and a breach to $12k and beyond in the next few days.

Yup that's Bear.  And the market is take control by Bear now.  Next time Bear will call all his buddies and all your coins will belong to his.  Lmao.  ;D

But seriously, I couldn't care less...

I don't think bitcoin will hit tremendous high price right now, I think it will safely play on 9k-10k, I'm still holding my btc and waiting for the right timing to get profit. But I'm hoping that it will not take for so long to pump again, still positive for btc peak prices.

We have witnessed how bitcoin climb back to 10K USD after it plunges its market value down around 5K USD. It may be a good indication that bitcoin is preparing for another run anytime soon. As per experts predictions/speculations that i read from the internet, bitcoin will once again rise high this coming 4th quarter and will exceed more than 20K USD.