Bitcoin Forum

This is a good analysis and I would be watching for this if this can really be coming trues in the next few days. We are all longing for Bitcoin to get back to the $10K zone as soon as possible. While Bitcoin has been struggling, I can also feel that there remains an energy within the coin to break through this level.


I know that we are just speculating here but market sentiment can be a big factor for the movement of the price of any commodity or currency. Are you of the same argument or do you see that Bitcoin will instead go south and be trading below the $7,000 within the coming week? Is Bitcoin now ready to take over the $10,000 price range?

although i am hoping to see $10k sooner than later but i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range. of course it is still too early to say and things are still unpredictable. but we are now entering the third week of price being in this range and the market has been calming down a lot too which makes me more confident in what i said.

What I think will happen is we might reach the $10K area once again but it might end up being another bull trap like in May 2018.

Looking at the weekly charts the $9100 area is the price we need to clear. However I am expecting $9100 to get tested within the next few weeks and also we might touch the $10K area again briefly. However if we manage to close below the $9100 area on the weekly charts then it spells trouble for BTC probably at least until the next halving.

Reason why is because right after every Bitcoin rally there is a support level formed which gets tested many times and eventually breaks that level and what follows is a rejection of that level. The rejection level is the $9000 area.

So basically not a good idea to long or short, need confirmation first.

It's always two fold, getting to $10k again because the sentiments are positive or going South as some are predicting, like in the range of $6k-$7k.

So it's really hard to see where the price will go, recently we see the price surging to $8500 but suddenly went down again to $8300, which indicates that we are in the borderline as of today with no clear path as to where it will go. Of course, we wanted to see the price reaching five digit mark but we will have to see what will be the sentiments at least at the end of this month, so gauge where we are going in short term.

Im still positive for the $10,000 range nowadays. If this market situation is similar on May this year, then it probably wont go below the lowest from the last 3 weeks.
Higher lows could also be an indicator that we're not really drowning below the support level.
Now, we just need a good reason for Bitcoin to break the resistance and reach the $10,000 mark. The 2020 halving could be one of the best example.

If we clear the low $9,000s then $10K is an obvious bull trap target because it's the top of the weekly failure in September, the apex of the failed triangle, and the 20-week MA......not to mention psychological resistance. Just getting there won't be enough to reverse this downtrend. We need to break through that area with authority.

It should be a real moment of truth.

Yep. Exactly what I was thinking, this reminds me of that period where it just swung from 2.5k to 3.3k for a couple months, and with the way things have been going, it's looking like it's the same thing, but at a higher pricepoint.

If we do clear the 9,000 regions this month, 10,000 looks easily achievable and I reckon it'll be just some time before we reach that mark. Only time can tell us!

Presently the price is held or pullback at a support at $8300+ haven broken athe resistance at that zone thus a clear indication that the bulls are gradually taken over the market its very obvious the next resistance is $9000 which is quite achievable before the end of this month the price had rallied for long in that zone before breaking the resistance at $8300 once broken I am well optimistic that the price will sustain the bullish momentum till $9K.

with the recent pull back and the way the buy support held strongly i would say the market is in a pretty good shape. if price could sustain this buy support strength and this small upward momentum we can see the surge very soon.

but i can't agree on one thing. and that's the 20% surge. i think if we start seeing a surge at this point it will be a lot bigger than just 20% and could bring the price back above $10k and closer to $11k whereas 20% will only take it to $9k.

In short term, maybe this year will really going dip around $7k. I think hard to going bullish this year because Bitcoin need some support to increase the price, for example the adoption and regulation. There is also altcoin not really good to support the Bitcoin, some project is scam, some people think crypto going nowhere.
But let's look what happen. Still hold BTC!

Stable phase isn't bad, better than <$8k before November. I still think things will get better after 1 month from now and the +20% price will be just a start

I never expect this much dip on end of the year, Because we are all see some gradual hype on last month before and one dump will affect many investors, at the same time it will trying to grow again so surely it will cross more than 13k on end of the year.
Adoption and regulation will happen it will going to moon and slowly will raise on further days so buy more Bitcoin in this situation we make good profit on end of the year.

It could even break down 20% down, let's just say that this really is an indicator so we can make it back to the $10,000 USD again let's just embrace the fact that it can go down to $7000 USD but we may see another recovery for the price, 2020 was the initial potential surge up for the price to hit again and make a new all-time high and because of the impending event of Halving this can be a strong reference to that in getting us up again, and I think the next all-time high will be on the $40,000 USD to $ 50,000 USD levels in my opinion.

I think these types of articles are published everyday by different media websites all over the globe. One set of these blogs say that there would be a 20% surge and the other half says that there would be a 20% breakdown. I personally feel that TA is a very subjective thing everyone can make out his own analysis therefore you can't rely heavily on what a channel says. 7700 is indeed a very important support and has played a crucial role since a month but there are no signs of reaching 10k as of now. I think 9k would be a more realistic approach.Currently i Don't hear any adoption or regulation happening around. Even Bakkt futures Haven't created much price pressure for Bitcoin.

I'm bullish most of the time so I can feel the pressure building up before the halving and so should you. Bitcoin can get dumped when someone throws a ton of coins onto exchanges but it won't start a big panic. You could see that happen more than once in the last 30 days. They were trying to dump but it always recovered right away. People don't want to get rid of it and the charts are reflecting this attitude. I see us going up to 10k this year and starting a pump towards 20k later on as halving gets closer. Maybe in Spring?

yeah , bitcoin Price can recover the area or level 10000 ; why not 10320 per btc before december
for sure there is lot of traders who sold their bitcoin after this fall in prices that already started by end of september , and i think they can bought again espiscially  who sold at 9000 usd per btc because current price better than price of last weeks

Just don't get your hopes up right now. This price jump they are talking about is highly dependent on the assumption that Bitcoin will hold the 7,700$ support and basing the current chart we have right now I don't think we are in the position to get comfortable that Bitcoin will be bullish anytime soon. If BTC fails to break out the 8,500$ level then we all know that we aren't in the clear yet and we might revisit the 7,000$ range soon. The RSI might look bullish but it is forming a symmetrical curve pattern leading to is on becoming oversold again which means there would be another massive selling happening anytime soon so I would rather stay smart and not depend on a break out as of the moment.

I never liked RSI for the simple reason that it can indicate a bias towards a certain direction without actually leading to a move.

For every reason people think we might be due for a move up, I can think of twice as many reasons for the price to be due for a correction. Patience is key here. People believed that the $10,000 level was a level we wouldn't really dip under anymore with how "strong" the support was, and the same happens with the $8000 level already.

I follow a simple rule called; the trend is your friend. It's clear that the trend has turned against the bulls and those who go against the trend will be left with a bad taste in their mouth. I really wish I was this rational last year....... :-X

That's why you have other indicators to look at and not only to based your trade because of the RSI. The RSI would just tell you if an asset is overbought or oversold but it doesn't completely say if it will go up or down because of it, other indicators should be used such as MACD and moving averages to confirm a move will happen because of it. RSI can be serve as some kind of indicator that will just point out on where it can move, it sort of gives you a general idea of the current situation. I love the RSI for what it is and I use it anytime just to see on what the next move will be.

the main reason to keep our bearishness in check is that the market's already fallen 45%. from here, there's more room for upside than downside, even if we're just talking about a dead cat bounce in a bear market. we're not just gonna go straight down. there will be a violent move upwards sometime in the next several weeks.

it's prudent to be bearish based on the daily/weekly downtrends. that's only rational. the same was true in the summers of 2013, 2015, and 2016 though. just sayin.......

I dont take weekend prices as good indication for the rest of the week, for whatever reason we tend to get a blip on Sunday open as Japan trading hours come into play and thats when I start to note the areas we are holding or failing.

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

We have attempted to break down a bit but stayed above short term averages more importantly the weekly average we've stayed above and perhaps we fight the friday prices now in Asia trading.

It's possible, but I doubt it and bitcoin hasn't been in its current range for very long.

At least this thread isn't one of the morbid prediction ones saying that its headed back toward $5000 or below.  That also could happen, ofc but I don't think its likely either.  It is more likely in my opinion that once bitcoin does start moving with some momentum again that it will be toward $10,000.  The market and its traders are just taking a breather right now.

I doubt it given how much resistance that level saw the last time it was tested.

Furthermore, we don't even know for certain whether or not the 8k support will hold at this point. Even though we did see sizeable rebounds each time BTC tested this level, this was exactly the same scenario with $10k, which eventually crumbled.

I'd refrain from making any bullish predictions in the short term even though I'm still holding my longs on BTC in the long run, simply because how sentiment in the short run can affect the entire market's performance.

that is why i am not yet sure about it. this is just a feeling that i have based on the fact that usually after a sudden unpredictable drop like what we had recently, there is always a stable phase where market just goes sideways for a long time. we have to stay here for a month at least for us to be sure of this trend though.
unfortunately every time we have a sudden drop then sideways trend like this it ends up seeing it followed by a shoot up after the rise starts! like when price went from <$4k to $6k and then $13k in a short time after.

Not anytime soon, the market has been at $8K resistance for weeks but bitcoin even struggles to reach $9000. 
Yeah, bitcoin might stay at this stable phase over a month as its value is directly proportional to capital inflow, at least better than a dip to $7K.
$8K maybe the new bottom line generally because there's not a lot of new adopters entering the market right now.

It looks like that dip got bought. The market didn't like the taste of new lows.

We're still smothered below the 200-day MA and reeling from that big bearish engulfing on October 11th so I don't want to get too excited yet, but this could be slowly turning upwards. I'm confident we'll get a run to the mid-$9,000s or $10K at some point. It could be soon.

all of us are longing for that growth as it was a month now that Bitcoin is struggling to even move to $9k but with many speculation and others putting the price value to fall down $6k how can we expect a hype in market like this

while we have still a long way before the end of Q4 yet i don't see any potential so far that will push the price uptrend

maybe we really need to fall that low before the Bull starts to play its role and bring us profit before this year ends

The market of bitcoin is neither bullish nor bearish. This trend continues with no big move, upon which it is difficult to predict the real market situation for the upcoming days. More chances for a downtrend is being felt as there is fluctuation and no growth. Maybe for a bigger price push on halving there is chance for a drop to sub $5000 by the starting of the year. If that happens further ends up with big price pumping by halving. These were all predictions based on the prevailing market.

That's actually good analysis, we are talking about a price where bitcoin is holding and not going down anymore, if the price doesn't go any further down even while people still keep selling that means we found the bottom, when you find the bottom and enough people realize it than follows the buys because people realize it is the bottom and they can't lose money if they bought from there, when they start to buy others follow and the price eventually goes back up.

There are the reasons why it is really crucial to figure out if this is the bottom or not, if it is not the bottom then it could go down more of course but if it is the bottom then $10k+ will definitely happen once again, it is quite right there for us to reach all depending on how low we could go. I hope this is the bottom so we can go back to great prices again.

Looks to me like the manipulators are struggling to bring bitcoin down to a price where they are comfortable to buy again.

Because of that they will be forced to buy even with a higher price although the profits will be low.
That will cause for the bitcoin price to be pumped again. Somehow it is almost like FOMO.

All of us are waiting that bitcoin hit the price of 10000$ or surpass that price but still, bitcoin is stay at the price of 8200$ to 8300$ so just expect that we really might experience a long stable price. I guess it's better to see experience at a stable price on the market than seeing a bloody market. There is a small possibility that the price of bitcoin will surge 20% before the bitcoin halving or might surge up 20%+ after the bitcoin halving that will happen next year May 2020.

A lots of bull traps and boring price movement from previous months it didn’t get a lot attention to most traders. But maybe this is the calm before storm that we are waiting for, I will be happy if it can reach $10k again this month.

20% is very conservative thinking considering some of the major upheavals that are currently projected. One of them being the halving event. And then there is the global economic slowdown. Another 2008 like crisis just looming on the horizon. At a time like that, Bitcoin will see immense amounts of investments as national currencies around the world start to fail.
That would be the true test of Bitcoin on whether it can retain its place as the leading crypto.

Dude, I hope you're wrong because I find these periods very boring and very long. Also, just to add my pessimism: Followed by a rise, but a rise that sometimes doesn't put the BTC value to what it was before, Bitcoin doesn't recover fully.
 
Possibly in the next few days, it could rise but no higher than $10k-$11k in my opinion. So as for the title talking about BTC surging by 20%, it's a reasonable bet but where are the $13k? >:(

No charts or stats, just my feelings

It should probably surge by the end of Q4, or at the very least, stay at its current mean price. But as of now, it should probably just move sidely or move up bit by bit to that 10k dream. To be honest, a lot could still happen before Q4 ends. I expect most of them to be about adoption or surge of coins and hopefully, this could push bitcoin before the year ends. Besides, Bakkt is still pushing ahead and hopefully something could come out of it in after its disappointing launch.

No, not anymore.
I dont see bitcoin going south that far.
I may go below 8k but not as far as going down below 7k. That will be a mess again and FUDs will keep on coming.
Although there could be a possibility for manipulation, there is still a resistance that is happening in the bitcoin market.
They may be forced to buy now seeing a difficult way to bring it down. So a pump may be sooner than a dump.

a "bull trap" is when price is on a downtrend and only has a small rise temporarily before continuing to go down. there is no downtrend in bitcoin! we only had a fall in about one single day and have been in this price level ever since! which makes what we have these days another sideways.

Manipulation cannot be stopped, since it wasn't proven yet and people do believe that it's likely happening while market declines successively. If that will happen, more whales will come to buy for possible hype, so  don't expect long term holdings. You should grab that opportunity of dumping some portions of your asset to take your own gains, but always remember to have timely monitoring of the trend. It might crash one day due to fud and other bad news that influenced the people through negative thoughts and speculations.

I don't think it will surge that low to 7 000 USD. But I think many of us is waiting for that to happen and many will invest to ride on when BTC goes up again. But I think the best time to invest is now. It is always on the 4th quarter of the year when BTC value rise. So I think it won't fall below 7k USD but instead it will go up again.

Looking at the chart through rose-tinted glasses, are we? :D

There's an obvious downtrend on the weekly and monthly charts. Nothing but lower highs and lower lows, and a continuous price decline from the $13,000s to the $8,000s. Technically, every bounce on the way down for the past 3 months was a bull trap.

I'm optimistic that a bullish reversal is near, but it's hard to deny the 45% decline in price.

Looking at how we are at around 8300 right now that would mean the price would be around 9900 and I do not think price will ever be around those levels. Not that it won't go up, it will definitely go up, either now or later but it will definitely go up. But, in order to go up 20% we would have to go up to 9900 and stop there which looks impossible since it is neither a support level nor a resistance level.

So, it could potentially go up to 9400 and stay there (a bit higher to make sure it is not testing the support all the time, so 9.5 is more likely) or it would go to 10.6k because that is the next one. So, if the price is going up, then it is either going up to 9.5 or to 10.5 levels, anything around there would be fine but if it is in between those levels like 9.9 then it will not stay there for too long.

The market chart still showing downfalls trend instead to see prices moving up. To see how the current situation is, I'd never think for the market to make a big high but ( maybe) big lows. Not possible that we go down deeper this year probably at $6500 (but not it goes down deeper than that) or it moves higher ( but not it go far beyond $12000). I can't that the market will turn great this year, it is a miracle if that will happen.

It could. 7k had been my lowest ever since.
But arent we seeing a great refusal from bitcoin now which is can withstand all the FUD and even if there is a new currency being hyped like Bakkt it is still staying on a number we could be proud of.

If it goes that deep then I am really buying. It may be the last time that we will see bitcoin at a cheaper price. Opportunities.

Bitcoin has bottomed now, so there is every possibility that bitcoin will surge within some weeks’ time as speculated by you and every other few people that I have watched their analysis some days back. The last decline was a very big one which I believe that the time it dropped below $8000 was the time it bottomed and we have now reached the level where the next market reaction will a bullish one.

There are some people that thinks otherwise and I don’t know if I should just term that as unnecessary fud news or there is possibility for it, but the indicators that I am using is pointing toward the direction of having a bullish trend, what I cannot then say is if this bullish trend will come with a long high value or a short increase. Whatever the case is, the future is here and will tell.