Bitcoin Forum

Bitcoin will only slide down if the resistance on 7070 will be broken,but if not then we can expect bitcoin to be stable in $7100-$7800 base on the chart of bitcoin this week.But if the $8000 wall broke we can see bitcoin maybe going beyond $8500 mark we dont know untill it happens

I can't trust any words from newbies related to technical analysis because the price of bitcoin always depends on demand and supply if there is a big volume coming we should expect to see a big increase just like what happened a few days ago.

The reason why we are seeing price drop because there are many traders doing short trade that I think OP is one of them? Because he is trying to start a FUD here to encourage other people to sell.

Bitcoin price these days don't need technical analysis because more people are entering again in bitcoin and more business coming that may help bitcoin to push higher. Look at the news about AT&T they are now accepting bitcoin so bitcoin price should be increased more soon.

According to technical analysis, technical analysis can't predict price movements. As far as I know, it can only help you know determine the odds, to help you make better trades.

Technical analysis can be used as a reference but it is not an assurance of what will come next in the market. It can only show the possibility of what could happen in the market. The market is to volatile and there had been a lot of TAs that failed to predict the price.

Anyways, it's too early to call, there are TA 'experts' who might agree with your analysis, but as far as bitcoin goes, it has still the momentum as of now and pushing higher than $8k. So maybe you're right it could go down as low as $6860 before eventually having a break out run to $10k in the next coming months.

First of all we cannot know when the price of Bitcoin will go since most of the time its price is unpredictable technical analysis is only a basis/references when the possible price to touch but everything can be change in cryptoworld if the price go down I would said it will touch to $6500 to $6800 then go up up again slide down and go up for another wave Bitcoin is super bullish right now I'm prety sure before the end of this year we will see a good price for Bitcoin hoping it will be back to its ATH or higher.

I have put the chart you linked in the OP below so we don't have to go elsewhere

https://i.imgur.com/jXVG79l.png

I have a question: What time frame is on this chart? The support-resistance levels are drawn reasonably well and we can identify the double top feature, but I don't think the trend lines really work. The thrend lines are always drawn somewhat arbitrarily and can't predict anything.

Its not a "technical analysis" but my own table, made for my own track..
As I trully believe BTC price will sit around 20k USD by Christmas, that's how my own predictions are, with an increase of 2 to 3%/week from now to October then an average of 5%/week from November to December

https://image.prntscr.com/image/wfo9ZtdrR9KNlJVaJgqWxw.png

*Please note that this is only an estimate of how prices would be if it follows the weekly growth quoted above

I have made this table at May/22 and so far the May/24 I was correct (it actually reach 100$ more than in my calc)

Bitcoin is volatile so it simply means that it could strike high or drop down anytime.
There's no assurance but the good thing is we could see the market going well these days which is just an indication that it could possibly go higher.
There's no theory or analysis could exactly predict the future of Bitcoin because if so, we should have all millionaires now.

That's your own technical analysis, but mind you, everyone has their own, and mind does not tell that the price will drop that low.

I am on the uptrend from this current price.

Technical Analysis doesn't work everytime. It's still up to the market and traders where bitcoin will go. Remember last year that most people said it will hit 50k usd but it didn't happen and it just crashed for more than 50%.

lol if you don't hear anything a "newbie" account says then how do you expect a "newbie" to create enough fud for a multi billion dollar market to pay attention to his fud??

I don't care about the analysis of others,  but if the analysis will be positive I will trust if but the analysis is negative to bitcoin so I will not trust to this. Because also look bitcoin it's 8000 dollars so tell me right now why bitcoin going down $7000 or $6000 what is the main reason of that? Few people only believe that and we believe to the rising of the bitcoin not to dumping.

Interesting technical analysis. you make a support line out of two random candle sticks and call it technical analysis? which timeframe do you use? and just by the way, metatrader for technical analysis, really?  ??? 
I have just checked the price and i was surprised that we aren't down to your called low :)

BTC continues to grow, although there are some jumps down it still returns to its price and continues to grow
I think by the end of the year he will exceed his maximum

They don't know the market conditions so they feel it will move backward. But some big selling was occur in crypto automatically it was go to dump and pump. I think this is not useful in this situation because again market was stay in a right way. So better avoid these kind of useless thread.

I checked the chart and it's quite reasonable compared to the volume of the BTC. But my question is, how can we determine the resistance of the BTC? Is it a big buying wall or what? Can anyone explain help me?

According to my TA(technical analysis) it will go down to 7500$ then increase again back to 8100 to 8300$.
But this is only my idea base on my understanding in the graph dude. Well, anyway for what is important so far is
that we need to take a chance again to buy Bitcoin then hold.

I'm not surprise that these days where bitcoin is rising nicely, technical analysis will continue to come out whether it's positive or negative news. As of now, bitcoin is growing nicely. Technical charts of weekly assessment might be a good one. So, bitcoin traders are really maximing the current conditions. No matter how technical analysis will come out, traders will continue to flood the exchanges.

Based on my analysis, BTC is at a very bad time and may collapse at any time during this period. Everything is unpredictable because there are many people who own very large numbers of BTC and can completely control this market. I think now is the time for people to feel more worried because the market has increased over the past 2 months and it is certain that June will have a big correction from the market. Anyway, if you have a higher profit of 25% then consider sell to ensure your profit

I think technical analysis is not very influential at the moment, because what has the biggest impact for now is fundamental news, if TA says that bitcoin will go down, but fundamentally preach good news, I'm sure bitcoin will go to the moon

That's like saying, I will drink poison if everyone says its healthy to drink but I will not listen to anyone saying that I will die. That is stupid brother.

the bitcoin cycle still has a chance to experience a decline before the pump is high, maybe that will happen when the next few months the price can reach above $ 10k

Bitcoin is jumping right now and it almost get into the $9,000 level. Well, while there is nothing wrong with listening to many people's analysis bitcoin has this habit of being a very unpredictable beast and so it can move fast in the direction we thought not possible. Hopefully, soon we can witness bitcoin getting into the $10,000 zone and beyond...and this can happen within the month of June unless some bad news can influence its energy and strength.

This is a possible scenario that should not be ruled out, but in fact right now in the current stage of the market in which we are going, it is more likely that the price of bitoin will continue to rise.
If we take into account that there is now a lot of volume of purchases, the market capitalization has increased greatly, so this results in less likely to decrease the price, statistically being the most likely a possible increase or as much as have a lateralization of the price.

For now the outlook for bitcoin looks very good, although it is in a phase of the market that has a lot of volatility, this means that it is very likely that if the price drops quickly, this may have an impact for the BAKKT .

It is nice to have your prediction and share it but yet it is not 100 percent that it will go that way.
Better to leave some for a pjmp that may happen.

If you look at different threads out here some say it may go below 10k which is great for any hodler. But as a trader if your speculation will come true then it is best to sell now.

Still it needs more digging to come up with a better analysis. There might be a lot of FOMOs out there.

No one will buy that, TA is no longer necessary if we are in a bull run, and bullish people don't entertain bearish prediction because they think you will ruin the momentum, and they don't like you. LOL...

Change of minds, people in the space always follow the price action, and now since it's bullish, they'll also be bullish not looking at the other side anymore.
Bitcoin is pumping, and soon will reach $10,000, so it could probably change the market and as expected, FOMO... here we go!

Well, it may be possible and it may not, within this short time that bitcoin has actually climbed to $8k, I have seen it go low to $7070 without it crossing below that and picking up back to the $8k.

It all depends on us the BULLs, most especially the strongest ones amongst us, if we continue to follow the whales dump the coin to create panic sell, then it’s our fault.

The force behind bitcoin uptrend and downtrend is nothing more than the investors; we get investment, bitcoin increase, if we get withdrawals, bitcoin decreases, so we can’t tell the mind of people until we see the result in the value of the coin.

With each fall, bitcoin forms a new level of support. Every time he's higher than the last. And it's certainly very cool. The price drop will definitely be, but not great. Still, everything points to growth.

Yes when the market is bullish then chances of going bearish is less at short form,if it goes then it will be just a correction and sooner the prices will rise to the next resistance level.

Mate, since we already know this, isn’t it the right time we just stop analyzing?Because bitcoin seems not to be responding to anything that has to do with prediction, FUD and others that much, it just does its own thing, the way investors directs it.

What use to baffle me is how many analysts picks the same TA to read and end up getting so many different figures that are not even closely related, so why are we then always using TA when it has never given everyone the same figure? When it comes to all this long term prediction, I would rather believe more in fundamental analysis even if I find nothing than to use TA.

It is surprising but the price of Btc is starting to get higher and higher while time passes. I think it will not just stay in this position, I know while the price is getting more higher, people or investors are getting their hands on the Btc they can get while it is still in the stable price these days. Maybe $10.000 is it's destination or maybe higher than that.

Yeah its surprising that technical analysis will not always be right, towards 10K it might be possible but we are still waiting for a little correction as its now at 8K more. If there is a decline until 8K is stuck maybe we can see 10K in the next month or so.

I myself am not very capable and believe in technical analysis, and it is evident that currently the price of bitcoin is at $ 8590

The resistance already broken and the price already goes to almost 9k mark so I guess it will rest for a while and it will be going to have a huge comeback after this month and there is a huge chance that the 10k mark will also be hit next month if it will continue to grow.

more and more traders are flooding the exchanges and when bitcoin experiences up a lot of investors return to bitcoin and this will make bitcoin at maximum results.

It's always the market that dictates the price of bitcoin for me. Whenever i see positive news about crypto, next is the price pump of bitcoin as people tend to buy/invest in it and also whale play a vast role for the price manipulation.

fundamental says the direction and what other people can do , when to enter and where to enter is done by technicals , for me both are saying that bitcoin is bullish

Bitcoin has no price limit and you can trust this coin in the near future if there is a need for long-term investment. In fact, achieving a price of $10,000 will only be a matter of time and if you can be sure at that price, use all your savings to invest in Bitcoin because it will certainly help you earn very good profits. Anyway, there are still many big news that have not been updated and hope that more important news will come to this market in June.

But be careful because there is no guarantee to see the price still going up to $9k and besides that, the price now it seems wants to make another correction for the price and the price has already down for a moment. But the trend still strong and still shows that the price will increase higher later and the chance for the price to increase still wide open.

Many of us have a prediction that the bitcoin price can reach more than $10k this year and they make many predictions that are showing of bitcoin price movements at the charts.

From here on out? I say it will go up, I don't know how quickly or how high but it will definitely go up. When it does we can talk again because it can't sustain to go up forever, eventually it will have to go down but in order to know when that will happen first we need to go up.

Price will be going up even more in the upcoming days for sure and we are going to break that 10 thousand dollars everyone wants (I think even 12 thousand dollars is quite possible) but aside from that we don't know the far ahead future, like I have no idea what will happen in 5 years, I can tell you June but that is it, even July is really gray right now. If you want to buy in and afraid that it already went up too much, you are not too late, you can still buy bitcoin and put a sell order at 12 thousand dollars and profit.

In my opinion Bitcoin is now with full energy. And from here bitcoin will hit 10k$ that I guess, where btc touched already near about 9k$ and next move will stable above 9k$. And when Bitcoin will cross and stable above 10k$ we can see a massive bull run by bitcoin . It is only my personal opinion and my mind say this .

It is a waste of time to see the resistance what you have shown buddy.

if you see the day or hourly resistance it stays in different level and few days before this value was completely low and that it was different. We need to know the future growth of BTC. Now many people waiting to see the bitcoin at 10k USD.

Lets expect the peak value again before halving reaches.

Looks like McAfee will be right in the end about bitcoin going to 1 million dollars! Its where its going, when it becomes fully adopted around the world, global reserve currency it will settle somewhere very high. Haters will hate, bitcoin survived 10 years without governments and institutions, now its time for them to accept it, they found out that they cant kill crypto, so its where bitcoin is going, get in the train while its not too late.

We are in trading world industry were there are only 2 motion happened most of the time in every platform exchange, and that is Buy and sell, increasing and decreasing value in the market. But so far, bitcoin is heading for 10, 000$ at any moment because as you can see the price so far was 8701$ each bitcoin it is very closed now to 10K$.

Bitcoin will go to the moon even to pluto  :D :D
the price continues to grow rapidly now. some analytical techniques illustrate that bitcoin will continue to increase until the end of this year.

Everyone is optimistic about this value soon and I believe that is where bitcoin is heading to, at least before June with this strong signal we are getting, bitcoin should be able to get to such value. That is why I am still holding on to the fund I am using for trading, although I usually trade with it on a daily basis, but it seems it will pay me more to hold it now and wait for this increase before taking profit.

I used to think like op too, thinking there will be a massive correction at one point that will put bitcoin value below $7k, but I guess I am only seeing a mirage as bitcoin will never drop below $8k again, the next pick up value now will be $9k and from there is where it will surge further to $10k.

Many people, who work with the cryptocurrencies have the same ideas, and it scares me a bit. You know, the events on the crypto market are always unpredictable, and as we are waiting for BTC for 10K, everything can go differently soon.

There's no theory or analysis could exactly predict the future of Bitcoin because if so, we should have billionaire in the world.. no one can see the proper resistant.. so i think lets expect  the more and peak  value of BTC...

But there is also a chance that technical analysis can determine the price movement. According to the pro traders, before the execution they are planning to enter or exit the market prior to their technical analysis. Definitely, it helps a lot to them.

You're right . No one can predict the situation of Bitcoin in the future and all predictions often go against our thinking. I think instead of predicting, you should only choose good coins for long-term investment and wait a long time to earn higher profits. I personally do not like trading day because it is really risky and if you have bad psychology then the loss can happen.

The Op is from 7 days back as of now.
If you see the price now,  then it's increasing in good speed according to me.
The price has risen abaove, what the OP has estimated at that point of time.
Moreover who doesn't like when the price of Bitcoin increases?
Nevertheless let's hope for the best and wish BTC will make us rich.
Goodluck to us. ❤️

yup, but yesterday, its price had a huge fluctuation. And nobody thought that BTC's prices could fall so quickly. I am a professional margin player but last night I suffered a lot of losses.
It is clear that this increase also carries a lot of money and power of the whales. We should be careful in the future. Don't be too greedy.

There has been great speculation in Bitcoin due to the rise in the market value of the coin and this speculation pushes the market value of the coin more up to the moon. So I think we are on the way to cross $10,000 soon in days to come and this is what so many experts predicts about the Bitcoin. I mean there is currently no reason for Bitcoin to stay down with such an insane speculation.