Bitcoin Forum

BTC has been rallying since the bottom at $6,600 is confirmed. Now that price has moved to above $7,300 with strong expansion in volumes, we may say that an effective counterattack has been initiated, making it mostly likely for bulls to challenge the resistance at $7,700 in the short term as price holds great chances to continue moving upwards.

If you take a close look at how price moves on daily chart you will find that a minor floor will be formed during a certain period, besides, price will continue dipping after rallying to the resistance provided by last floor whether rally receives support from volumes or not.

https://static.aicoinstorge.com/article/20180403/152274624586612.jpg

That’s the reason why I believe $7,700 will be the ceiling after price has been forming another floor in the past 4 sessions, now it’s easier to tell how BTC will move in the short term.

We believe price will correct higher to $7,700 to $8,000, selling on surges is recommended if the overall trend remains intact.

We may also say that bounces are the root cause for lengthening bear circle as price will continue dipping after every rally during overall downtrend.

Original by Kuang Ren, translated by AICoin Jami.

I really think bitcoin will surely form a ceiling over that values, and it can be a slow pace but a sure quality increase for bitcoin right now that is why it is still a great time to invest and increase your holdings, for now, But until we can not see every ceiling that will let bitcoin across every difficulty there is no time for FUD because if there would have a negative news about bitcoin then the ceiling can go crushing down again.

In fact bitcoin price is already getting a very strong support from its users, and therefore its price is trading so stable. It is expected that bitcoin price will very soon start increasing its price because of the increasing interest of the people, therefore the increase in the bitcoin price will be permanent and we are not expecting any manipulating in bitcoin price. It will hopefully cross 20000$  in next few months.

I hope you were right because at the moment is still not yet fix to me until it won't goes down after this week but if it will suddenly goes down on the next week. I would say that it is not yet recovering and there is still a price manipulation from have i believe from my sources. It is not gonna reach $20k yet but it will take a lot of time before it hits $20k again.

If it reaches $8000, we can confirm a double-bottom of 6k.

This usually sparks FOMO, but since bitcoin whales are mostly neckbeards wanting to troll the market hard, and it was proven in the past that TA wont work with bitcoin, we can see it falling as well.

In any case, go long, the halvening by 2020 will be big business, for any of us.

It's funny to see how the market instantly changed from negative to positive based on just the bounce back up. It was just a few days ago where people were speculating about $3000-$4000 levels, and now suddenly the sun started to shine bright again. Perfect indication of how 90% of what the people here say is nothing more than stutter noise. Just wait for it, if the market dips back under $7000 again we will fall back in the same negativity cycle once again. For me it was clear for a long time that the $6000 bottom is the actual base bottom -- the price just doesn't dip below the previous base bottom, and that trend is being maintained for years, which is something people don't realize yet....

This is why we do have a speculation board on where people do keep guessing on where would prices would go which is normal on my part since we do know that this is very very a volatile market. We do speculate things basing on the recent happening on the market thats why knowledgeable traders will really make opportunity or move that makes them money depending on how the community would react basing into their speculation.

I hope that it will increase in a bit because if it will fall even more the market value of Bitcoin might have a hard time to recover. The increase might be for a short term and dumps will eventually happen after few days but that's already something to look forward with that increase is still possible to happen. Since we don't know what will happen next, investing and holding is advisable due to the volatility in the market.

With the way the price is pumping. I have this same feeling too that it will reach $8000 too. I don't know what might have caused this exactly but I guess a lot of people who Perviously felt that the price of bitcoin will fail below $5000k are surprised about this price increase and are buying. We just hope some greedy traders don't just rush off to sell now so as to prevent the price from going down.

Whales might pump this thing out and then sold again when it reach $8k level, its gonna be an head and shoulder pattern but I still hope that bitcoin will able to maintain on that level. 2018 will still be a great year for cryptocurrency, green days will come for sure.

i hope bitcoin price incraese not only until reach 8k this month
but until reach 10k dollar

Based on the trend that has been observed with the last few months, I think this is a spot on analysis.

I think that bitcoin may well stay above $7k for some more weeks before another dip comes. There is a possibility of a complete disruption of trend from bearish to bullish, but I don't think that we're back at the "return to norm" stage yet, nor does the market look ready for that at all. The bear market should and probably will last for some months longer in my opinion instead of ending now.

So yes, if you're trading short term, then selling if BTC reaches $8k+ would be my recommendation as well. But for all the long term bulls out there like me, just wait for the next dip to come by to fill up with even cheaper coins.

That has been a pretty accurate prediction. Bitcoin's ceiling is indeed just under $8000 for now.

The price didn't actually reach $7700 but rather had some resistance at $7400 that stopped it from going up. After that there was essentially a flash crash that took it down under $7000 again. Well said in the article, selling on any price surges for the moment is definitely the go-to strategy if you are a day trader. If you're a long term holder, don't let these short term price movements bother you.

We may see another attempt at breaking the $7000 barrier today or tomorrow, but if it doesn't happen by tomorrow I think we may see some further decreases in price before finally hitting the bottom.

Hopefully we can see the bigger change for tomorrow's btc price, and that $7000 will be break again. When the roller coaster behaviour of the price will not be going to varry to down trend, then we will see the signs of how the market will recover. These short price movements isn't continuous, it may end up and long term traders will keep on holding their asset until we see btc's price prosper to the top price. Same situations will happen after a huge fall, sudden price spikes will happen.

The price of bitcoin will be higher than $ 8000 in April. I'm sure of it. But I do not expect a very high price increase because it seems to me that there is a process of redistribution of coins. It seems to me that very large players have entered the cryptocurrency market and they are now fighting with whales.

nice chart . I mostly agree with your comments. this is exactly what i think.
Technically we need to stay above 7200 level for daily candles. than we will start to see 9000

It would be nice to see this happening seeing last months downtrend.

Yes everyone will be looking for a positive new which will be a relief after the loss in value which has happened in last one month and I think anything above $7000 would be a better value to give the bitcoin market a situational kick for pump.

Didn't exactly specify a timeframe for this higher correction, though I suppose you didn't mean for it to happen in two days? I see your floor is holding true so far, in fact, last few times I looked it's been more or less the same $6,700, haven't had the time to look at today's charts properly.

You know what would be really interesting? All of you AI project guys start putting your products to work and see which AI/ML project calls the long rally first (or the converse).

Wrll, with the look at the chat you provided one can say base on technical analysis it seems that the trend will still continue going on a downward direction. Except if there is positive news about Bitcoin and crypto currency in general which may turn things in a positive direction.

Agreed, most of the time, technical analyses that 'proved' to be the most plausible event that's going to happen isn't even showing up due to bitcoin's nature fucking them up. Due to that, most technical analyses are somewhat unreliable, though still plays a big role since the market is slowly shifting to a somewhat forex-like environment due to the institutional investors flocking towards the crypto fad. The halving is still a long way to go, but it certainly would put up some form of psychological imprint that everything would go nuts which might result to another FOMO.

most people already talk that the price will surpass $ 20,000, while to get out of this jungle alone we are quite difficult. the market should really pump prices from now, so that we can meet the bull market soon. just calm down this year the price is sure to reach $ 20,000, now we just need to improve the performance and immediately clean up the current chaotic situation.