Bitcoin Forum

Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.

If anyone knows the answer to question such as this, then such individual just need one opportunity to be rich, then exit the market afterwards as that is the key to every problem facing crypto trading but unfortunately, anybody who offer some answers is only guessing then hoping that he is either wrong or right. The fact is that the point at which price is currently is not enough to maintain huge resistance of not going lower with innate opportunity to rise as well.

This is a silly question, BTC at its previous resistant than if you really learn how to trade using technical analysis than you would sell your bitcoin when there is a breakout to the downside. Unless you're holding and looking at higher timeframe than weekly chart, then you should still holding as there are no sign of monthly downside overturn.

yes, Bitcoin is going to go down a bit and from gather momentum that will enable it to break that level as it has been happening in most of the resistance level especially the popular level. I was thinking last week when we were having serious pumping that bitcoin is going to stop it immediate pumping at $10,250 but that has not happened and since this week it has been limited below $9500. Any negative news is going to bring the price down and positive one will push the price forward.

I have heard that the Reserve Bank of India intend to ban the crypto currencies next month. Probably, this negative news impact on the price of Bitcoin and other crypto currencies now. BTC (-3%) is shown as a quite resistant in comparing to altcoins (-11%). It isn't going down lower than $9000 yet, and this is its current resistance level.

I don't think it was just a silly question. I just wanted to know your idea and opinion. Because weekly chart is not a shorter time frame ( of course it is not a strong higher time frame too) and if you take a closer look at it you will see some sort of resistant is creating at that level ( where there is a previous resistant level ). So I just wanted to know your idea as most of you here are senior than me  :)

It is likely that bitcoin will find support around $8500 to $8000! The mini rally we have seen is coming to an end gradually. When bitcoin find it support , there should be some stability before another rally.

I hope it will not go down as it is a crash. Many investors and people who are willing to join the cryptocurrency craze will not anymore gain interest if that happen. And that will make bitcoin dead which I will say is unlikely to happen because of the huge community supporter and its popularity.

though the experts are guessing what happens with Bitcoin price, it is very difficult to predict the price of Bitcoin. The market price of bitcoin is not dependent of the negative news which are spreading, I heard that, RBI going to ban the crypto currencies in India But I hope this is not effecting anyway in reducing the price of bitcoin. It completely depends on the Market value of Bitcoin, and now a days the size of traders increasing every day. Hope there is a sign of rise in the price of Bitcoin. Holding and selling at a right time is the main key point in this trading. I purchased some value of bitcoins when it went down to $4000 and Now I am holding.

 Well,despite of these negative issue we have also positive side that really good for trades as long as they know what they doing, and if will happen again I believe that will recover again after all . On other hand we have also some reason why bitcoin fall, because some implemented rules and regulation in some nation will have  also negative impact to bitcoin price, aside from that the volatile price of bitcoin will also challenge to some investor.

To many fundamental that needed to consider and we should watch if any of them but looks like this current denial is just a pretty normal since might provably some of the big players are preparing for a bull. And if you can afford to watch for daily developments then much better for you to execute a right decision before anything good scenario happens.

Trading skill is not equal to invincibility because price changes are random and constantly changing. Compared with skills, I think that experience is the most important factor in the BTC market. However, it takes energy to do some research.

Well sometimes we can not predict it and/we can guess what will happen next we are free from thinking, figuring out and guessing but sometimes that guessing and figuring out can help you because there is a kind of combination when you keep on looking for the pattern on weekly charts.

AND SOMETIMES that situation can help but like I said we can not truly say what will be the next move will it be an up for green and a down for red. 

what rejection signs are these, I have no idea. please elaborate.

what we have bitcoin that is still above its previous "buy support" not resistance. and it has a while to go before it reaches that bottom again. that support line is currently at $8800.
and if you look closer at the charts you can see this buy support has always been very strong and is slowly rising up too which shows people are losing faith in price going that low so they place their orders higher each time price is headed that way. it started at $8500 then $8600-$8700 and now it is at $8800-$8900 you can see after testing the bottom price JUMPED back up to $9200 because of all the buys.

in other words people are short term trading bitcoin, buying at that bottom and selling near $10k. that is why we have this weird ass sideways trend.
this WAS the going down. now it is time to go back up and test 10k again.

I do not think anyone knows what will happen to the next bitcoin price. all of that counters the users as the rising and falling prices will be heard by the supply and demand.

Last week price was not able to cross its previous week price level and has closed inside the previous week candle. Current week candle is a bearish candle ( at least for now). Those are the price rejection I was talking about and that has happened near a resistant level ( that resistant is actually a previous support level from upper level ) . Let's see what we can tell after closing this current week candle. I'm expecting a price drop at that level.

Yes. But don't you think that we can apply technical analysis knowledge for crypto charts ?. I accept that crypto has no any considerable price history. But can't we use support and resistant knowledge to tell what will happen on the charts than only relying on supply and demand thing ?

i hope when testing at price of $ 10k, there will be a breakout, so it can continue that uptrend. but we can see there is resistance in the $ 12500 area, and i think at that place there will be a considerable correction before continuing the trend

Base on the technical analysis of BTC the probability that it will go up for the next consecutive days are very high. The volume is there and the second waves of buyers are coming in. What do you think guys on my predictions?

By the way OP can change the resistant to resistance.

I am looking forward to some situations that could happen with the Iran deal, US fud, and things heating up in Syria, I am waiting for some announcements.  If we officially back out of the Iran deal, the lack of stability could actually push BTC up--but I feel that the big boys would then respond by pushing it back down because they don't want people to run from the dollar to BTC.

The problem you are not seeing here is that you are asking something no one can know. However, the major resistance was towards $10k which we could not even smash through and we ended up having a reversal from there as well as a bearish divergence on the shorter time frame. Usually this type of movement is considered as 'gaining power phase' to break the big resistance levels.

I wonder if you missed that because as at the time which you dropped this post, we were way past that resistance already and trying to find a support, so the question you are asking is not sounding relevant in a way.

Well, it is good question. The thing is BTC has fallen for last few months which was very shocking for us. But if the price can fall down the price can also rise up. No need to do worries for the resistant level because the price is rising but in a slow motion and it will not go down.

A really silly question. Firstly, no one can even know how the movement of bitcoin would be like, but as it is, bitcoin is still trading outside the downtrend and that is what should be important for a long term holder. Anyone who is really ready to trade should not even be asking questions such as this, otherwise, I wonder why they should be trying to in the first place. The problem is some people are trying to take advantage of the market, but the truth is they really do not have a single clue of what they want to do.

Unfortunately most traders do get worried at most of resistance levels due to some sudden pull back of market movements. Even they are well aware of how resistance levels are working, they start worrying about reversal of trends. But at this point, we can be sure about bulls to come into action again as market still remains strong with respect to volume and by most indicators.

They are going back and forth with this banning. There used to be such rumors back in the day.
To give you a short reminder:
In a Blow to Bitcoin, India Bans Banks from Dealing in Cryptocurrencies
https://bitcoinmagazine.com/articles/blow-bitcoin-india-bans-banks-dealing-cryptocurrencies/

Followed by:
No, India Has Not Banned Bitcoin Trading, Government Confirms
https://www.newsbtc.com/2018/04/07/no-india-not-banned-bitcoin-trading-government-confirms/

So now we are going to go through this FUD again? Give me a break.

Some of the big wales entered crypto and invested in bitcoin and pumped its price very high (19K) at the end of 2017 (nov-dec). But gradually the price decreased and people thought that it was a drop in price and bitcoin is losing its value but it was a totally different issue it was just a temporary pump and bitcoin as recovered to its original price. I think it's not a drop in Bitcoin value but still it the best time to invest in it as until the end of 2018 it will surely boom to an all-time high price.

Up and down of the prices is the natural rule of a market. Btc has the same too. I definetly not think that btc at its previous resistant and somehow in the future if it is so then it will surely overcome it.

This is definitely true which this kind of question cant really be answered by anyone since nothing on this world could able to predict on what would happen next. Rejecting 3 times on resistance level wont always having the precise possible movement would be downward just like on what we saw on traditional trading forex and stocks. When it comes to crypto we do know price might breakout or would dip anytime on least expected.The thing here is that we should be keen or wise on when to enter and when to exit as long we are on profits.

This is a question that seriously can't be answered, because no body can predict the future, i know it has been said a million times, but this is cryptocurrency market here it is unpredictable and could change at any moment, right the price has been fairly stable, so the best thing to do right now is just hold and see what will happen, and just act depending on the situation.

The resistance had lasted 2 weeks or more and not improving. more had resulted into it, I believe some people are still acquiring more coin in a very tough market or troubled. Exploiting the low market price

I agree that the price of btc is falling nowasays. But I believe in Btc. They are working on it and soon they are going to rise with bigger success.  :) :)

You can see that the price of bitcoin in the past few days is fluctuating and continuous adjustment at low amplitude. The $ 8,800 bitcoin hit the $ 9300 level and is now showing signs of sideways. According to my analysis, bitcoin prices are showing signs of convergence and there will be big fluctuations, so you should sell bitcoin at this point to be able to profit and preserve capital.

Hopefully it will like what happened in the past years,but we also need to stop treating bitcoin only as the trading material which stops bitcoin from reaching its potential value.The people who want the bitcoin to recover from it fall the start to hold your coin.

According to technical analysis, if the BTC below 8k7 $, the strong bearish trend will continue and that is a very bad signal of the market at this time. Keep track of the value of bitcoin to make timely and effective investment.

If the price resistance is damn too high it is an indicator that Bitcoin will go down again, most probably it will land on 3K one of these weeks. Compare the price of BTC now to the chart of Bitcoin bubble in 2014 you will know what I mean.

You can see that in today's bitcoin price is not very variable but in the last few minutes bitcoin price has decreased slightly decreased $ 300 and has caused the market to simultaneously discount. According to my technical analysis, the current $ 9000 level is very strong and the bitcoin price after the break will be able to bounce up to $ 9800. But if the breakout is broken, the bitcoin price could fall to $ 8800 or $ 8600 in the worst case scenario.

Welcome to the complexity of the market as we have seen so many times that bitcoin never responded to any technical analysis of some sort, so the best chance you can ever have is to just move with the flow and nothing else and as long as you can do that, you will always get to see what happens eventually. If BTC will go down again, we will see in the next few hours or days.

I am expecting to break $10k levels within this week as per my technical analysis. But I need a real life support from government or from an institution to back my prediction because without new money flow we cannot expect prices to go beyond some strong physiological resistance levels.

As you rightly predicted the price of BTC rejected at the weekly resistance has turn out absolutely the resistance at $10K is strong  based on technical analysis presently the price has temporarily pullback hopefully might be rejected again at $8500 support before rallying up again.

Quite possible. Bitcoin still remains a very volatile crypto currency. So do not be surprised at this price

Bitcoin is struggling as always we cannot stop it's volatility from the beginning. And so likely btc can be down again as we check the market price cannot sustain to go higher these past weeks. Expect that we will seeing again into down price.

Tough question for answer but its true in recent times bitcoin face some problem because some countries are banned bitcoin but still now many people’s are also interested to invest on bitcoin because they knows bitcoin have a great future nearby.

It might be or might not. Anything can happen now. But my opinion is in favor of bitcoin. If it goes down, no worry. Wait and see. It will rise again as before. And be healthy soon.

This is the fluctuation of bitcoin in this week.This will occur every week,if you are the day trade. You may come to know this.Today the bitcoin price reduce and it's common in the crypto currency world.Since the price is low,you can use to buy some bitcoin .When the price is raise back ,you will get profit.

Surprisingly it has sank below $9,000 so it will take a while longer to get past that $10k milestone again. 2 fuds at the same time has cause a little panic i.e. south korean exchange getting raided, and mt gox moving thousands of bitcoin again. Fud price will go within a week i would say

We even all wish we could know the answer to that, but unfortunately, there is no one who can ascertain exactly what the future holds. We may always see a bounce, we can end up breaking back lower but only future can really tell how it is all going to be playing out. At this time, being positive is the only thing personally I'm doing because I have already invested enough so I'm just watching these dips.

There are rumors that mtgox guy again started selling of his big stash of bitcoins that is the reason we are facing big resistance around $10k levels. Bitcoin can switch to any point at any time, but the only thing applicable here in this market is following trends and if the OP cannot do that, I wonder what he is doing then ?

Not going down because it was an accident. Many investors and people who are willing to join the cryptocurrency madness will no longer earn interest if that happens. And that would make Bitcoin die which you would say is unlikely to happen because of the many supporters of the community and its popularity. But I hope this does not affect in any way in reducing the Bitcoin price. It really depends on the value of Bitcoin Market, and now days the size of traders is increasing every day. Hopefully there is a sign of Bitcoin price increase. Holding and selling at the right time is a key point in the trade.