Bitcoin Forum

I don't know if someone has posted this already but I will start this topic to seek opinions from the experts and give ideas to the new traders. Bitcoin's price is ranging at $6800 very tightly since yesterday, the movement of the price keeps narrowing as the day pass by, is it a sign that bitcoin is going to break either its resistance or support?

https://preview.ibb.co/msbDcH/Screenshot_20180412_014715.jpg (https://ibb.co/nduzHH)

I got this chart from binance, this was a chart from the last few months of bitcoin, (sorry for analysis of the chart as I was not an expert) this shows a descending triangle which as they say a sign that the price will moon in a few days. (which is I really hope). But there is still a chance that it will fall as we know btc defies the chart annalysis and very volatile, this is not 100% accurate but has a possibility.

If my prediction is right, I think bitcoin's price will moon at the end of the month. and I think it will range up to $12000-15000. So it is better to hold onto your coins and wait for the right moment to sell it.

For now the best advice is to hodl, with these lower prices it's not a good idea to sell. Chart analysis would suggest a huge breakout, but you cannot be too sure about that. As of now, the price can either rise or drop. There's no other reason to assume the price will skyrocket but the chart. Let's hope the price will pass $7200 first, then maybe it could increase to 11K.

i saw this news already.i can say just hold ur bitcoin now.and definately btc will break out soon.
i hope at the end of year btc will be at 20k usd plus :)

It could be. Who knows? Maybe another good word (I am being sarcastic) from media that keeps our beloved bitcoin down. Or there will be an increase demand. I hate it when bitcoin fly too fast, because it could mean one thing, fall too fast. This nature of volatility makes people avoid bitcoin. That's one problem for a better public acceptance for bitcoin usage as payment or purchases, because of it's extreme volatility caused by, I don't know, creditor of Mt.Gox dumping btc or fake news, or bla bla bla from the FUD community.

Looks like theres another reasons to believe that bitcoin will go to the moon.... the US taxes that ends april,15 , Soros and another mega investor entering the crypto game....

I agree that the price is somewhat stuck at around $6800 in the last couple of days and it seems that's its either investors are still waiting before putting their money, or there is a constant bulls vs bears fighting out.

I'm no TA expert but I wouldn't be surprise if there is a huge breakout as we have been in this bearish trend for so long now that its about time to see some semblance of a rally to bring the confidence of investors back to the ecosystem.

So yes, I will continue to hold for now and not do any shit move that will jeopardize my potential profits. Hope that the OP is right about his prediction so that we can finally breathe a sigh of relief.

You're not the only one, OP. Here is a similar viewpoint from someone on tradingview, from yesterday: https://uk.tradingview.com/chart/BTCUSD/Fbdto92R-BTC-Daily-A-Closer-Look/

Personally' I don't see us going to 12 or 13k within a month. It's very likely that we'll have a breakout to 7k and if we manage to pass it we'll face 9k which is going to trigger a sale that will get us back to 7k. That's my prediction for another month.
Also, note that there are people who see this as a continuous bearish trend, ignoring the fact that we haven't broken the bottom at 6k and are in fact slowly ascending. They think that we'll break 6k downwards to revisit 5k within the next 2 months and that will be the ultimate bottom.

There are many people who analyze bitcoin price movements both daily, weekly, and monthly chart. However, the bitcoin price movement tends to be more affected by some of the news that comes next, when the news that appears is positive to crypto then the increase will follow the news and vice versa. There is no accurate prediction in an analysis of the price movement of crypto, all still dependent on the popes and the news.

This is  true that bitcoin is stuck at $6800 in these days. May be it will raise up again or fall down fully. But I don't think sell at poor price is a wise decision but hold it is a good for now. Price movement will go on. But you have to take wise decision as well

A triangle formed with a hit at a support level.From all indicators,if you could add Bollinger band to it,it proves the market is oversold and very likely for a breakout back to the price it was prior the beginning of this year. But more confirmation can be obtained if we closely monitor other fundamental news and traders speculations.

I also see that is the pattern of bitcoin. I don't believe or look at the chart in trading. The movement is usually pushed by news. Just as you said, when it is good it helps the market go up etc.

I also think Bitcoin can go back to $ 10,000, Total Market cap increases. In addition, the increase in the price of Etherum may be reflected in the price of Bitcoin. 5-digit numbers are so crazy.

Yes a huge breakout so holding bitcoin now is the best thing to do and probably buy more if you can afford then wait for the moon period to sell.

Bitcoin will begin rally from 50xx area. we have not seen the commercial users activity yet.

Hodl=stability growing of price

It sure seems like it, since March was a very bad month financially.  But who is to say when this breakout will occur?   Of course many people holding bags of coins will say this so people will buy in and the value will go up.
This is nothing new but a would only consider a huge breakout once we are back over $10,000

I believe that the bottom that bitcoin has touched in the past few months at 5k and 6k $ has been the lowest bitcoin and at that level the investor has accepted the huge buy so i think next month the bitcoin will increase strong back. Fud information that caused the market to fall did not work when investors started buying crypto at very low prices.

I think we need a good catalyst to breakout. Although the news has been pretty good lately, hopefully it will reflect the price in the upcoming weeks.

Every one is free to give conclusions, and there is no right or wrong idea. Bitcoin is unpredictable and we cannot determine what's gonna happen next. But as what investors keeps advising, better hold for now and wait till the pice pump again. Just hope and believe.

I agree with you Granxis, Ethereum and bitcoin are the market changers. A rise in one tends to cause a positive move for the other. Seeing ethereum rising today, I was happy because it would be reflected in the price of btc. As a hodler, I am not too much into what brings the price high because I know for sure, the price will increase.
Framing statements of what will make price go high even puts tension on the price of bitcoin. Let's hope for the best.

We have been seeing a narrowing of the price range in the last week or so, gradually inching its way back to $7,000. But let's not forget, last week we were in the exact same position then it dipped back into mid $6,000's. We are probably developing towards a new support level, probably somewhere around $7,500. If this level is broken, we may see a new bull run.

I understand that bitcoin price had stuck below $7K USD in the past several weeks had passed and the probability of price to shoot up is very possible to happen and just hoping this would really happen within the month. For btc investors, better hold it for good while waiting for the expected potential rise of btc and I think this time, resistance will be weaken and could no longer hamper btc's growth.

yes it is a crucial moment, hopefully no bad news that will make candles will reverse direction down. hopefully there will be good news that can make candles more positive for the upward direction

Yeah no one knows. The correct decision for now really is HODL. I don’t believe in repeating history theory though coz the btc price depends to us hodlers .Wether how much percentage is holding still or dumping affects the btc price.

maybe now the good thing to do is hold bitcoin for now with me knowing about the unstable bitcoin price of the price. but I'm sure bitcoin by the end of the year will again find a high price point.

the problem with this kind of analysis is that you never know until price breaks either one of these lines. and until it does, you can't tell which way it is going to go.
there is a good chance that we are going to soon see the rise start up again since we have already seen such a huge drop and the current price is showing such a good resistance but there is also a very small chance of another sideways period and possibly a small drop.

I think that is true, I'm also still believing and hoping that bitcoin will rising up again but I'm not expecting any higher value from it. For me it is good enough to know that it will going up again and maybe for a long period of time but if it will pushing to it's highest point well it could be much better for us. But for now it is really the best to do is definitely hold so we can gain much more benefit for the upcoming high pump in the near future.

So, don’t sell now is good choice

Bitcoin break through its resistant already! it is now at the price of 7800-8000 guys! I hope that it will continue pumping! investors are now preparing their money to be joining with the flow!

I am impressed by your prediction and analysis, i have seen this thread yesterday but i was thinking the opposite could happen if there is a negative news and i was expecting that, but all of a sudden there is a huge investment in bitcoin and the price started rising all of a sudden and i was wondering what was happening that could trigger this surge, i cannot find anything else other than your analysis.  :D

Well, thanks bro, I think it is just a newbie's luck. lol. and I also didn't expect that btc will rise earlier than I expected. this is how volatile bitcoin is, you will never predict it 100% accurate. And I think there are some good news happening right now that helps bitcoin to rise up.

huge breakout or not, it doesn't matter. The fact is, bitcoin price every year has increased after Q1.
I think bitcoin value will increased more than the current price on the market.

There are many people who analyze every bit of the year with Bitcoin pricing. However, Bitcoin prices tend to be further influenced by some of the news that followed, If crypto's news is positive. Then everyone will follow the news of its growth. There is no correct prediction in the Analysis of Cryptocurrency Prices Movement. Everything depends on the news.

indeed your analysis is very appropriate we just need to hold our coins until a favorable price to sell our coins patience profit

We had a bubble, one hell of a bubble. Noone can deny it.
And i see it as a bubble, i look at the btc movement as any other bubble in fintech world thus I think it would be extremely intresting if we saw a breakout of such magnitude as OP thinks. i belive we will have much longer period of price stabilty.

I think this is one of the suitable explanation to the present scenario. It was highly expected that market will regain its position after Q1 and so are the results. But now Bitcoin has been increasing tremendously which always make us worry that is the next breakout near and the answer is quite simple, Yes. This is the volatile nature of Bitcoin and one should embrace it rather than cursing the technology.

I agree with you about the bitcoin that will soar, based on the number of bitcoin users recently. We must believe that technology will grow rapidly with effect and concerning bitcoin and we also have to analyze and observe about the development itself.
and I hope as the previous year bitcoin decreased in the middle of the year and soared at the end of the year

well, I think that with the development of the market of the current code is gradually restored and the value of bitcoin also is growing, this gives us clearly see this is pedal to the strong increase in bitcoin value for the future , and the current needs of people is very high, bitcoin so bitcoin will thrive and popularity in the near future.

Investment companies and owners of large farming mines are optimistic and plan to invest their money in the crypto currency and in its production next year. And in many states, there is an increasing number of discussions about the legalization of digital money and their introduction into the legal framework. And if in 2018 at least in several developed countries bitcoin is recognized, this will further strengthen its course. I believe in the growth bitcoin.

It seems  that  we had a breakout indeed, we went to touch the 9000$ mark. Although I am still bearish on my view , it was nice to see this rally up.
Lets see what the near future holds. another local ATH would be nice :)

no one can predict the market but whales can manipulate - the better strategy is to keep holding (for now).

After bitcoin feel from around $8k to $6k and bank of america announced that bitcoin was the biggest bubble in history I knew we were ready for a rebound. Of course I don't think this rebound will be the one to send us over $20k. We will probably top out around $10k again, but this is the start of a new build market. I think things will progress up from here in a volatile fashion. Most of the, especially Asian, speculators are being smarter about when they buy and how long they hold. However, bitcoin is being used more in real-world applications and that is what it really needs to breakout.

I agree mate, today the best advice to hold. the bitcoin is going down, maybe for the next 4 monts bitcoin will rise. we can sell our btc.

It seems that the Crypto and Bitcoin markets are slowly recovering, which is a good sign for all investors. I advise during this time continue to hold until the end of this year. I think prices will rise a lot

Yes, I agree with your analysis and point of view as your analysis has been proven and the market has broken the resistance and start moving upside. Right now i can see that today the bitcoin chart has made a topping out pattern which is mostly created when the short term top is made on the price chart. I think your expected price level of $12000 will be reached soon if there is a breakout in the uptrend direction of the currently made topping pattern and i think there are high chances and possibility of doing that. I am personally expecting to reach $15,000 by the end of this May month because people have started buying heavily.

We can never know when will bitcoin take back its price from last year. All of these we make are just speculations and risks that we take for we can get a higher value. Since bitcoin went through all of these price drops already and make it pass and even reached $15k last year. In my opinion just risk it because I believe that bitcoin can still pull this off, my opinion though is that it's not this year, this one is going to take even longer than 1 year.

It's all just personal speculation and that person is ready with all the risks that come with the decisions they make. No one knows the bitcoin price will move in the future. However, to regain last year's peak prices will be long time-consuming and it will not be enough in just one year.

Compared to the beginning of the year, this is a big step up, the next goal would be to stay above 10k, but the time will show how it will be.

It is a great thing that tge company of bitcoins are prepared in all scenarios since through this they can obtained a hugr income.
Be ready in all things raise a alertness which is ready to cure or solve the problems in the business , it is a great thing to be a stronger company

Bitcoin is trusted through out the world and has witnessed a lot of times in other words it has proven its power of value and that is why it has broken out and the trend is continuous which will record its percentage increase in the next few days. Looking at the stability the market is seems more stable than that of the few days ago situations and same is happening regularly and daily.

Right. Things seem to be quite on the positive side right now compared to the last three months but i it's too early to say that we're preparing for a breakout or a pump. Let things stay as they are right now. I kinda like this movement better than a straight pump..

Unfortunately we're not looking for a breakout right now, nor do I feel like this kind of slow bull market is going to continue.

Call me bearish, but I feel like that a correction is due any time now. I just don't think that the momentum right now is strong enough to push bitcoin over that psychological $10k barrier right now.

We've seen a pretty nice rally, you could label that as a breakout in itself. However, it has to come to an end somehow some way. Bitcoin can't continue to rally, or stay at a high level after its value goes up drastically in a short amount of time. That's why I think a correction is incoming soon.

I just feel that it must make another high jump very soon. We all need it so very much! I am not sure it will happen in June but Winter 2018 can show it.