Bitcoin Forum

I don’t think that upper bound matters. If we break it upwards, I think we’re probably still stuck in a larger running triangle or other corrective pattern. I would aim for $8,400-$8,600 and then re-assess.

If we break the lower bound, then the most probable target is the mid-$6,000s. I’ve noticed this opinion is very common in the Tradingview chat. Sentiment is very bearish there. That could indicate retail traders are net short and about to be squeezed.

Technically this a really dangerous area to be long. Still I am leaning to the bullish side.

Bitcoin has spent a lot of days in this channel as op rightly point out and I do believe that the market is waiting for a reasons to take a new direction. I have seen that there is a force that desired bitcoin to remain below $8000 for some reason knowing to them. But I see more of a bullish trend toward $10,000 and probably above $11500 before end of next month if the upper channel is broken but if bitcoin could not gather enough momentum for that, then we should expect reversal towards $5,500 area.

that is not something easy to predict.
all we know is that the market sentiment has changed into bullish and most traders are currently in the bull mode. but at  the same time there are many other traders who have lost money during the rise from $4k to $8k and have been crying about it wanting the lost opportunities to come back to them which is why we have this sell pressure right now.
this channel is a temporary one that will break out unless something unexpected happens.

I suspect LTC will lead the way once again, and its upcoming halving should flip the market bullish at any moment. We had a rising wedge from which we corrected, and sooner or later this correction will run out of steam and buyers will step in.

As we can see on the image if we can break again the $8k level the next stop point is $9000 but this is a dangereous level because most people want to see Bitcoin pump up again but market still unpredicted so a falling down can be happen a possible $7k to $6500 touch point, 2020 halving can bring another good move for Bitcoin.

It looks like a little rebound is coming right now. i can't even believe there will be another big decrease again. The support is much stronger compared with the selling pressure that happened in the market. Even bad news about regulation comes from g20 but it looks like bitcoin is really strong like the early bullish trend of 2017.

Def also the same lines among the chatter going on in some of the TG and slack channels I've been dropping in recently to check. Gives me a rather odd sample of what's going on with traders who consider themselves old hands, interesting to see some convergence with tradingview, even among typically bullish guys. But this is strictly in the short term. No one is ready to commit anything after June. Stops are tight too.

Also refreshing to see N American markets wake up to trigger another attempt abive 8k. Been the flipside for weeks.

Personally I think slow growth will continue, or that price will stay between $7k-$9k in next few months. The reasons I see for that are in the fact that this time of the year for bitcoin is fairly equated. It should be noted that the summer on the northern hemisphere will soon take place, and many people will go on holiday which will include some % of traders. The money will be spent on other things, then on buying more bitcoins.

Maybe I'm wrong, but a more significant price movement could happen in September and towards the end of the year. Now we are close to $8k, and there is $300 jump few minutes ago from $7700 to $8000, so it seems that the bulls are trying to regain control again.

I feel either a slow grind up happening or just a whole lot of sideways chopping in the near future. We just had a nice bounce up to near $8000 this morning thanks to what seems like a few large market orders on Coinbase Pro from the mid $7600s, selling pressure is still here but less than it was recently. I'm just holding a small long position at the moment as this is a pretty risky area to trade IMO and I know some have even called this a bit of a no-trade zone.

This is also what I'm seeing right now. There is no break out run, so it can go in either direction. Of course, I'm leaning towards $8000 but there's also that possible that we might hit some lower bounds in the next coming weeks, so let's just prepare ourselves for the worst. But I'm still going long here, just to be on the safe side, I'm not willing to short as I'm expecting a good upside later in the months, July-Aug would be a good month, the way I see it. So let's be positive that a new trend will happen and it's going to be on the $8000'ish levels.

It would appear that we have numerous things for happening. BTC price on a beautiful buy in so far volume climbed significantly in the course of the last 5 hours and still increasing. Pretty cool for me to watch it! I don't care either bitcoin ups or down, I'm sure some of you will appreciate this. It's all about opportunity!

I agree that the upper bound is not the focused part here. We are on a stage where we are not going down obviously unless we have some external pressure all of a sudden, which means if we want to really just purely focus on this chart and nothing else I would say 8400+ is the way to go, we don't see what could really happen afterwards because 8400-8600 is all we can guess but I am willing to bet if we go there again (which I think we will soon) then the hype will come back and we will go even higher right after that.

Of course, the deal is if we go above 8400 like I assume the people who have been waiting for a correction and want to sell for profit who couldn't do it last time around because one huge whale did it and didn't let them then we may go back down too so all we can assume right now is hitting 8400+ rest is assumption.

Yet again ltc is eating btc's lunch.

Short squeeze it is! Waking up to a $400 green dildo on the hourly chart sure makes for a beautiful morning. :)


Yep LTC is already making new highs again, even as Bitcoin consolidates $1,000 below its last high. Such a strong chart! As long as it remains this bullish, its a good sign for the overall crypto market.

It was obvious that after the sharp increase in the market cap and especially in Bitcoin's price we are going to face a Bear June.
I believe that we are going to go a little more down and then bounce up again (despite the today's small price increase).

Nothing is obvious. I expected bear May or April, but it did not happened.

The move can happen in any direction, and from the market indication that is posted few days back we've experienced a small down trend and has further experienced a uptrend reaching above $8000. This way the market move is truly unpredictable, at times the trend followed gets away from the market direction.

I have the feeling that bitcoin price tends to decrease in the summer barely each year then tends to rise especially in November/December. It is not a rule but maybe we will experience a little drop/correction in July/August?

I thought the price would stagnate around $8,000. But apparently, for the last few days, it's been slowly making its way up. With a few waves of high and low, which some people like to call volatility.
Anyway, It doesn't matter if the price stagnates for 6 months if it stays at $8,000 it's fine for me.  :P At the same time, I know very well that a certain crash is possible (as always)

December has proven to be a month where it's better to short/sell Bitcoin and wait a couple of months to buy back lower.

The thing with people expecting a correction is that they think it has to be 30-40% to finally have it be confirmed. It could still be that the price will correct with these numbers, but that might also be well above $10,000 and then bottom out somewhere around $7000-$8000. It's impossible to figure out when this correction will take place.

It feels much better just looking at the price action without having a specific bias. If it goes up I'll benefit and if it goes down I'll benefit too. :D

As always.! Crash is an inevitable thing and even I do thought on that recent correction of price which do lead down to 7600 would continue.
Basing on the image it do forms descending wedge which most likely it break out upwards on technical aspects but as we all know that this market
do really have always that kind of surprise.

The market is moving towards upward direction no doubt and it may take a little longer for the market to return back to around $7,500. I wonder why some people who don't good Knowledge of technical analysis are just making comments that it will go on a decline trend.

As always. ;D

On my own view Id like to see another calm wave just like 4 months ago, if I am not mistaken .
Somehow I thought it will stay that way but now here we go again. 8k might be the stagnant price so it would be better go until 9k then fall slowly until back to 8k then play there as its new bottom.

It will take away all my fears for a great fall if that happen. I always want it slow and never that jumpy movements.

the two primary possibilities i'm looking at:

-retracement to mid-$8000s (dead cat bounce) then another leg down to $6500-$7000.
-slowly grind upwards until bears start to panic buy. new highs make for an easy push to $10k. above $8750 or so and things should get pretty frothy again.

needless to say, i'm expecting the $8500-$8700 area to be a real battleground. i'm leaning towards the second scenario but a lot of traders i respect are bearish. i'm on the sidelines right now, no open trades.

It's not an easy to predict the price.
The upper trend will continue to rise.
I have remembered the craze when btc was 20k USD.
Hope this time it will too rise into the same price.
At this point of time btc is 8k usd.
This will surely continue to rise.

Either thing happens is all right. It cant go just up or just down.   But to expect if one year March had this that then all other March had same is silly. Bitcoin cycle is 4 years long. Halving is approximately every 4 years and that is one Bitcoin cycle that then keep repeating itself. Right now we are around end of 2015.

I guess that the price won't back to $7,500 in the next day because I see the sign to increase is there. You can see the image below, and I think it will rise more and break $8,500. That is what I see on poloniex but I don't check what is going on in binance and bittrex.


But that will turn to go down of the trend if there is a bad news release in out there and it pushes bitcoin price to go down and make another correction of the price.

The upper side looks a lot more promising right now. 3 days ago bitcoin was about 7900ish or so than 2 days ago it was about 8100ish and than yesterday it was around 8180 or whatever and today it is above 8400, if it is above 8300 tomorrow then I am definitely going to believe that bitcoin is going up, when it is moving small by small like this it means that the buyers are buying more bitcoins at these prices than the sellers are willing to sell at these prices which makes it go up and shows that seller side is weaker than the buyer side.

However, it can change a lot with one big hype, if someone sells bitcoins and creates panic than sellers can surpass buyers however if we have a rally and buy bitcoin a lot than the buyers are already stronger which will result with bitcoin going over 10k easily.

Currently eyeing a potential rising wedge on the 4H, but I'm still leaning bullish for the short to mid-term. Dips are once again being bought up pretty readily and the 4H MMAR also shows we're currently in an uptrend. Looking good so far, closed out an old long and reopened a new one in the $8300s with a somewhat tight stop behind it. We may be revisiting the high $8000s in the next few days.

https://i.ibb.co/G22Vg1g/ba9a11605f33a4fac0c5f4764a9ec59e.png

Seems like we've broken out upwards pretty violently from the rising wedge I just drew a few hours ago. Things still look good for the bulls, we wicked just a bit short of $8700 on Bitmex from what I can see. There is still some more potential upside to this movement IMO. Still holding the long I entered from a few hours ago, might go into the sidelines after I exit. Trying not to FOMO too hard at the moment more than anything.

Bitcoin loves to break up from bearish (rising) wedges. The same way it often bucks bearish head-and-shoulder setups. With today's daily candle, bulls are retaking the 20-day MA with authority. I'm pretty sure we're heading back to retest $9,100 and beyond.

It is obviously going up. The main reason for bitcoin to go up right now is that there are more people who believe bitcoin will go up, its a paradox I know but that is how bitcoin works. The more people think bitcoin will go up the more bitcoin goes up, its all in our heads and the more we buy because of the potential profit, the more we profit as well. It is a weird system and totally unheard of anywhere else in the world but its still our system so I love it.

Normally, in any other economy like the fiat has with banks they do whatever they want, they don't care if something is falling they can still profit from it and they literally bet on stuff that is going down to go up like crazy people and when they are wrong they get payments from governments to fix their own problems.

we had a nice upward momentum for about 2 months that brought bitcoin up more than 150% but it slowed down. not that it has not disappeared or stopped entirely. it just slowed down for a while with the correction of that huge rise because although it was coming out of the big manipulated dump but still the rise was huge. so the way we go is going to be the same upward movement as before only with a small delay. as you can see today we are witnessing another example of that strong movement.

There is another trendline that it can follow, the one that goes upwards in the chart.
You didn't design it and in my opinion it is going to follow that way not any other of those which you have already designed.

i am not really good at TA but this chart seems to be very wrong because it has a bad zoom which ignores the bigger picture of what has been happening in the market.
and that is the fact that price has been rising so if you zoom out your horizontal line gains a bigger slope and then you can see that we are in an opposite triangle which indicates rising instead of what you drew. and the drop was just a correction after that rise.

The price just keep going upwards for the last 24 hours which is great sign to be honest and make me feel that Q2 is going to be end with $10,000.

So everyone be prepared and grab more coins to increase your profit margin more.You can't get anything better than the bullish trend on prices.

Apparently, This post was back on June 9 and back then the price had a little downtrend, But now if we would look on the market's movement and price right now the price of Bitcoin is back to $8800 USD again, I guess there is some resistance in this kind of level and it is a little ahead before we can penetrate towards the $9000 USD that we might see it on the Mid of this month, Or there might be another negative news that would break loose and many weak hands on the community that might suffer again with FUD.

There are lot of FUDs making the prices to be more downtrend the actual bad news so investors and traders need to research about the news they were hearing.For example there are some news that bitcoin banned in India and people who is having any crypto currencies will be punished with 10 years of jail but it still the draft passed,no official statement from the government.

You can thank news outlets and noobs for participating in this fud circus. The market however didn't seem to care about it, which means that people know it's fud or India has no meaningful impact on the overall crypto market.

The price has yet again surprised people with how it looked to be on its way down, but it popped right back up and is heading towards the $9000 mark again. You got to love how this market keeps trolling people.

I legit enjoy seeing how so called experts guess wrong time on time again. I'm sure they don't put their money where their mouth is, which is a good thing for them, else they would be broke "experts" by now.

Rather than looking at just the charts it should be correlated with big news like the announcement of the bakkt for next month. These are bullish sentiments that will decide which way bitcoin is heading, most likely upwards

We broke above the June 2nd "bull trap" high and are now retesting it as support. Any bears still clinging to the invalidated H&S are about to get their clocks cleaned. It's a thing of beauty. Bears are trapping themselves so badly right now:
 
https://i.imgur.com/ehYlDtM.png


Maybe neither. It might just mean this is a raging bull market and bad news simply can't stop it.

News like this had some effect and on some of local exchanges the prices dropped too much than the price in coinmarket cap which clearly showed that people got afraid of the news,the impact is short term but people keep decorating these kind of news to bring down the prices as much as they can.But bitcoin find its own way to shatter all the fund news against it just like how the prices moving in the last 48 hours. :)

There is to realize that the market moves in different ways, it is acceptable that we can't predict what exactly it happens even just an hour. What it happens today makes people think that we can see another $20k this year or more. Not probably we end up this quarter with great prices but we are so hopefull that we can even touch $9,500 this month. It is a huge achievement already in crypto.

Looking at the previous price will tell us that it is really a huge achievement considering that we are in a bullish trend. Bitcoin might break a new resistance this month or next depending on the news and trading bots. Bitcoin is rapidly growing considering that the halving is too far from the truth yet. We may see a new ATH then if this rapid growth continues.

I have zero hopes regarding this because LTC was created by copying the source code of bitcoin and marketed as a silver to bitcoin and then the valuation came and the reality is that the creator dumped all his coins when the market touched all time high valuation and he made a ton of money with his fun project and people are still trusting that coin when the creator does not believe in it does not bode well with me.

If you are talking about bitcoin and knowing the long term expected price rise i would invest in it even at this valuation.

   Absolutely, with positive determination we can conclude a confident speculation through the current market has shown. Perhaps, we are witnessing a gradual growth recently and hoping for its bountiful outcome will continue to grow consistently.

I think the best case right now is keep going. Look at the price, from 7800 dollars to 9100 dollars it went up small by small and not all in one move which tells you more than the price. If the price moved from 7800 to 9100 all in one day or at most 2 days that would have mean that there was a pump and you could be scared about another dump that would have made someone rich but most people poorer.

However, right now we are seeing the price go up small by small which means there are people who are still willing to pay these prices for bitcoin whereas not as many people willing to sell to these prices, that is why the price will keep continue to go up until the amount of bitcoin people willing to buy equals to amount of bitcoin people are willing to sell for the same price. That doesn't seem to be happening any time soon.

2.5 weeks has passed since first posting and what do we now see) BTC costs almost $ 14,000

I got this chart from @nictrades (https://twitter.com/NicTrades) so google if you want a better version but each level seems quite close to the recent price action movements.    

13,469 being near the top and 11,513 being the first downside target from there.    I think a bearish target would be more on long the lines of 9558 to 7139 but thats only barring the still bullish return to 11513 area and the resumption of an uptrend.

11000 area is the low from yesterday which matches a trend, so look at that price point also imo

Really hard to speculate especially when it comes to crypto. The price movement is so fast that in only a matter of hours, your prediction is already broken. Sometimes, I am wondering what is the reaction of those individuals who predicted bitcoin to go downward accompanied by graphs and analyses, and suddenly the market is showing the reverse position.  ;D

Having through to the market inclines will have to think that crypto remains at its volatility feature. It doesn't matter what/how OP predicted the market trend as ain't exactly to happen in the future and also TA's won't actually work well. A lot of people expectedly Bitcoin will hold at $10k before the end of 2nd but it keeps moving.

And one day later the price is below 11k, bitcoin is so volatile at this moment that missing a few hours can be enough to see a completely different price and ruin your strategy if you are a short term trader, anyone that is thinking about doing something now, whether he is thinking about buying or selling, needs to be very careful, the market is moving in even more extreme ways than what we are used to and it will be easy especially for those that are margin trading to lose everything under these circumstances.

Slowly but surely the price of Bitcoin will grow. We may see a sudden down trend but it doesn't mean it will continue to go down. Just like what happened last 2018. We are waiting for a bull run all year but it didn't happened. Those who are impatient, sold their coins and left while the others keeps on filling their bags and wait patiently for the right time. and here we are now, from $3,500 USD last February to $12,850 USD yesterday.