Bitcoin Forum

On Sunday Bitcoin (BTC) price revved up to rally from $7,115 to $7,642, providing a 7% gain and an unexpectedly strong weekly close, which now has some analysts suggesting that a trend reversal is in the making.

I don't have a cow.
After all it's Bitcoin.

https://s3.cointelegraph.com/storage/uploads/view/e2e57ce3f5f349ea17bb86d26601360f.png

If bitcoin manage to have a daily close with its current price then we might see a trend reversal. However im also looking at CME futures chart gap because those gaps tend to get filled quickly. So ultimately we'll find out sooner in CME futures but most probably bitcoin's next movement will make a dip then retest the $7900-8000 resistance. This is just my opinion.

bitcoin price increase may be due to buy support at $ 6000, recently the price of bitcoin fell to touch the price of buying support, it seems like it was a hard blow to make prices take above $ 7500, this proves that the game is still being played by big traders

Now Bitcoin is steadily moving up. But do not forget that January is ahead. Usually at the beginning of the year there is a decline in liquidity in the market and the price falls slightly. But now Bitcoin is growing. I have conflicting thoughts about the future price of Bitcoin.

No one can predict bitcoin price.It can Goes ups or down anytime.Though bitcoin going to hit ATH in 2020.bitcoin is bitcoin.so don't loss your hope.It can reverse anytime.   

I think we have to wait, because even though the price movement is enough to provide an upward movement, we have not been able to determine that the current trend has begun to lead to the process of improvement. because price movements have not occurred specifically and are still in a slight surge in prices, it is necessary to wait again to get the right answer

Bitcoin is always in the trend of reversing. Bitcoin is changing the way we use money every day. It's a decentralized peer-to-peer internet currency that makes mobile payments easy, very low transaction fees, protects your (anonymous) identity, and it works anywhere without bank hours. The current Bitcoin price is over 175,000 VND.

I think, to understand if you are in an actual trend reversal you have to look at the structure, do some technical analysis, and find where resistance and support lines should be. In my own opinion, It's a bear market, then short the jumps. usually if it is an upward trend you will know a dip will still bounce back. It is all about price action. If you have a minor upward movement but in the bigger picture the market is still on a down trend then you shouldn't buy in. You just have to do your analysis first.

I hope 2020 will be a good start for bitcoin, expect the next few months to reach $ 20,000, according to my analysis if bitcoin is able to pass $ 8000 the price will continue to rise, but that is only an estimate because no one knows the future and no analysis is 100% accurate.

The bitcoin price can return from $ 5800. I'm not sure about that. But I see a weakness in the price of bitcoin. Maybe we're writing a new script for halving. A new downtrend and then a strong uptrend could come.

That could just be the manipulators in the market, or a trend reversal in short-term, and could still dump back. I still don't see any reason for it to go a continuous uptrend, and instead it would be short-lived. The halving is still almost 5 months away, and I expect the lows to be between February and March.

It could be the recent news about 21e800 hash, but it's just another hype scheme without guaranteed long-term effects, unless they really did what they speculated what deos is doing, which could be a groundbreaking, market driving factor if proven true.

Just like any other thing in this world, it's always going to be unpredictable. Some questions need to be answered so there could be an accurate answer.

• What timeframe are you going to base it from?
• Is it a reversal of this year or in general?

It will be different in each situation because if you look at the micros scenario, it could be considered as a change in trend. But on a macro-scale where we are looking at weeks, it's just another pattern forming and not yet confirming. So it would be different from a case-to-case basis.

We had a strong weekly close indeed, but the volume is not there yet. I won't turn full on bullish until we don't pass the $9500 and if I want to be more aggresive until we don't have a break on the weekly timeframe of the $11500 mark. However we need to go step-by-step the next resistance being just next to us at ~$7800.

We cannot be certain whether this is really a complete reversal or another bear trap. We can only appreciate what is actually going on with the price lately. The rest we can only hope. Although I fervently hope that this December is going to sum up the entire 2019 with Bitcoin gaining back its 5-digit price.

It's a correction after the drop in price last week. The price movement could also be linked with a whales strategy to make a profit from fluctuating market. And we have news of large amount of bitcoin being accumulated, probably for an intentional bull run for sometime in future.

as I have said before from some of the threads that I visited, everyone might feel cheated if they go with the flow and panic, the price will not be below $ 5500, they will only go to a low price of around $ 6500 then play again above $ 7000 and it will keep going on repeatedly so that many people get bored and leave the market with defeat, so the way to avoid that is to trade in 2020 is a good time

It was very shocked moment because of the suddenly revive or pumping up of bitcoin from $6,500 to $7,500 very quick. It was a very good news for us bitcoin holders, the 7% pump of bitcoin was very awesome and I really don't know how it pumps up like this in a very bad situation of the market. We can see that the bitcoin is the only one who pumps up very high compared to the other coins in which are very stable in their current values.
Many crypto enthusiast or analyst are saying that this is because of the whales who want to manipulate the market in order to start a good impression and market graph to the crypto and because of this the bitcoin becomes uptrend again for the future of it.

If the price of bitcoin goes up with 7% but it doesn't mean the the market is now bullish. There are only 3 bullish chart pattern that I know. The first one is double bottom, then triple bottom and the last is inverted head and shoulder. If the chart of the bitcoin become one of these bullish chart pattern then we will see the successful of the market reversal of bitcoin.

But for me 7% is not high enough for us to say that it is now end of bear market. Even if a crypto enthusiast or analyst says that the market will become bullish, we still do not believe to their claims because it is just their guess after all. Do not expect too much, 7% pump is too little and the it is the reality that the price of bitcoin is still in bearish market.

Why are you shocked? We've seen many times before that bitcoin can grow $1000 in just matter of minutes or hours. The question is, should this pump be sustainable or not? Otherwise, there could be manipulation behind and giving everyone false hope that we can get to $8000 though, just saying. For all we know this could be another bull trap in the horizon so we're on a tricky situation again.

If you look at the history of it, it makes sense not to get carried away on riding the price hike as we can see today. it may just increase slightly and will fall shortly after that. we better not to judge the market base on its flow right now. we need to see its past history to prevent unnecessary losses.  As far as I know, this increase will only take a few days and will stop again.

Anytime could be an opportunity to change the trend reversal. Its really unpredictable and anything could happen. We still hope for the best and hopefully before this year end a better price will rise up. Well, as long as we have bitcoin earnings and invested or traded enough its really better than having nothing at all.

Be objective boys and girls!

Bitcoin is still stuck between 2 falling lines and making lower lows and lower highs. We'd have to break above 8k to officially get out of this trend and it would have to be a candle not a wick above the 8k.

The good part is that the low of 3,5k is in and it's going to stay this way. If we dip down to 6k or even 5k it will be a great opportunity to buy more.

I think it will be difficult if prices fall at 3.5k, because strong buying support is at $ 5500, so I can't guarantee prices will be below that, right now I think the prices are still fairly stable and the whales are still playing behind the charts, no more they are still happy to play with small fish into the trap, I would be more happy if we see it again at the beginning of the year in just a matter of days to welcome 2020 later  ;)

Actually it has been seen since December 17 because there is a double top pattern that exactly happened on that date.
As I learned, the double top pattern is a reversal pattern that has a high probability of up to 80%. So I am not surprised if current prices have shown a positive upward trend.

I can really dont know what will happen next, but the thing is, I just hope that bitcoin will not go back to $5000-$6000 in its price, because my funds will decrease and I will be lose some bitcoin that I have been saving this year, wishing that it could get higher than that, we cant really read what the bitcoin price will  be, most of the time it is affected by the whales.

The price of bitcoin is still unstable. Probably going up with the expectation of New Year. The price of bitcoin can see a new peak in 2020. However, it is necessary to be cautious. Solid projects like Ethereum are still at very bad prices.

it is not possible to say until bitcoin price breaks a major price resistance such as the one at $8k otherwise price going up and down anywhere below $8k is not indication of that much movement.

with that said, i don't think the market is ready for the big rise yet. there may still remain some more time for this accumulation to end.

Very good post, quite useful topic, thanks for sharing more and more details about the topic

I like seeing the market going up and i am not sure what is the magic behind it, what ever it may be the speculation was accurate as the market is moving higher and even today the market has risen to $7600 and hopefully we might move higher but i am yet to know the reason for the trend reversal when there is two days before Christmas, i was expecting this reversal after the holidays but bitcoin market always surprises us.

Indeed this price movement of Bitcoin is nothing special.  It is just ordinary for Bitcoin to go up and down $1k+ in just one day.  With that bull trap, I would say that is always possible, the same thing bear trap happens.  Honestly, it is quite hard to predict which way will Bitcoin prices go because its market (Bitcoin) is very unpredictable. 

Bitcoin always bring surprises the more we expect things to happen the more it reverse the directions. Now we are again in a good rising momentum
not sure if how far this rise will go but being optimistic it's best to believe that the market will proceed and try to bounce up much higher than $8K.
looking forward to see more positive impact and good reversal to happen.

I can tell it is a little unstable because the price keep changing giving us a hard time to cope up which way it should go. Maybe what just happened last week was a slight dump then bouncing back to its natural state again. We might still need more time to consider which way bitcoin should go.

Bikinis price increase probably due to the high buy orders that people made when the price were on the 6000$ level, so this pump of the price due the high number of buy orders I guess. I'm sure that bitcoin's price will increase even more in the next couple of weeks if people will still buy more bitcoin and it will be more pump of the prices really soon.

It has always been like this before. Some days you get these goose bumps of price rising and see it going way upper than before.
After some time it will drop once again...

It is bitcoin's history and you shouldn't be worried about. It happens cause most of us (investors) know that to achieve profit we need to buy low, sell high.

That's the most perfect reasons on why such price fluctuations occur in such small time windows.
So yeah on the next week you can hope for another price drop or who knows stay at same price margin.

So far the movement of bitcoin is still in normal condition, and anything can happen because bitcoin can reverse the situation unexpectedly.
and a slight increase in bitcoin will now be a good thing for those who want to celebrate Christmas and holidays, but that doesn't mean they have to use it all because the right choice is now still in a position to hold it and use it as needed because there is a possibility that in a few months bitcoin will provide a good price for all of us.

But as time passes, big traders have less and less influence. Look at it in percentage, and you will clearly notice. The more coins that get spread, the less they can do.

I believe that Bitcoin price fluctuation is destined to shrink overtime. It can never go flat, because the coin isn't artificially pegged to anything by no one, and it can't go down because its deflationary, with limited production now in its final stages slowing down into a crawl. Most bitcoins that will ever be have already been minted. The last couple million will take a century to complete.

Traders need the fluctuation to make money, so of course that pressure will always be there. This is a sign of freedom, there is nothing more dangerous than a pegged "stable" coin.

Do note that moving from 100 to 1000 would today be the same as moving from 7000 to 70000. I hope you see the fluctuations today are much more smaller, even with that 20k spike of 2017. Time is in favor, and this is called maturity.

The price will always rise and tends to rise. Every fall will be followed by a bounce.

We need to wait for couple of more weeks before making any decision as this looks temporary to me as we have witnessed similar spike in the value of bitcoin usually followed by a dump and I think it's a similar short term pump. I would suggest to monitor the market for at least 2 more weeks before cashing out or buying more.

Since it will become even harder to estimate the price of bitcoin in the coming days, I will continue to hold. I'd seen many people that are promoting their charts and are giving advice but in a bad market they are always silent. So I won't be listening to them anymore. :D

Well, the bitcoin pattern is showing strong resistance to break new gains. I was a little surprised, when most of last week showed down direction, and a lot of speculation the price fell at $ 6000. now bitcoin is breaking patterns and speculation. I hope that bitcoin can penetrate at $ 8,000 until the end of this year.

It's really hard to predict what may happen next with bitcoin considering the continuous intense volatility of it so whenever things like this is happening, we cannot speculate totally that it would keep on increasing or the other way around. We need to be more mindful on what's happening in the market and monitor the price change everyday as much as you can so that you can keep up if it is really moving upward and do what you have to do to gain benefit from your investment on it.

I think the increase in bitcoin yesterday was the impact of the previous decline in bitcoin. Previously bitcoin dropped to $ 6400 when this decline most bitcoin traders bought bitcoin and it made the value of bitcoin go up to $ 7600. but today bitcoin has declined again. in my opinion until the end of this year bitcoin will be at $ 7,000. and usually at the beginning of the year bitcoin will decrease. we wait for the beginning of 2020 bitcoin rise or fall?

Throughout the end of the year, we see strong volatility of the Bitcoin's price. Even now, when Bitcoin has risen to 7700 dollars, I am not sure that this means that the market trend will change with a hundred percent probability. It may just be a recovery in the price after a recent fall. I think that Bitcoin should overcome the price limit of 10 thousand dollars, so that we can talk about changing the trend.

It is literally moving in a downward movement and I can't stand seeing bitcoin experiencing it. But what can we do? We're just a user or a fan of bitcoin and we have nothing to do with it. All we gonna do is to wait and have a lot of patience for years.

Maybe we can just focus temporarily on those altcoins even tho it is not that popular here in our country.

When bitcoin raise with higher price can't exist more than one week keep with higher, just few hours later bitcoin price back lower and dump again, why bitcoin not become stable coin again but look like altcoin can pump with higher price and later dump more than 100%, many people are playing with bitcoin game because they can make bitcoin suddenly dump just few hours later.

There is a resistance between $7000-$8000, when the price became near in that area; we will see that the price will bounce there because that area have a lot of sellers and that is why it called resistance. If the buyer overcome the seller in that area it means that the price breakout in the resistance and it can be a good sign of a market reversal.

The problem is the plustoken ponzi and the vast amount of Bitcoin they are still trying to mix and dump in the market.
They also have a huge amount of stolen Ethereum that will affect the markets. From what I read around 800.000 eth.

It is funny but some people are saying that plustoken finished dumping. Not even close.
That said, I will still buy at any price bellow 10k which is my plan for 2020.

Bitcoin is digital currency have unstable price where some time with higher and lower although few second, last day we are happy with bitcoin price change 8% on higher price but this morning we got bitcoin back with lower price, how ever never have big chance to see bitcoin keep stable with higher price always, giving chance for us re investing when bitcoin down and selling after price raise up.

I do not see a Bitcoin rally before the Spring. We may be hovering between 5k USD and 7.5K USD over the next few months, at least in the first quarter of 2020, then maybe we might see a northward bound Price incoming for Bitcoin. This is purely my own hunch for what is happening in the short to midterm as logic dictates with all the holidays coming u until end of January. I believe many on Bitmex are waiting for the big short and when they will make a lot of money when Bitcoin nose dives to the 5k USD ranges. I will be ready to fill a bag and perhaps by one whole Bitcoin once we have that dip incoming. Let us see how things will arise over the next quarter during the holiday time.

Volatility is unpredictable. The price may change for a few time, sometimes no one will understand what was the reason. You just need to get used to it.

Even small increase in bitcoin to reach even 8000 dollars is already a big achievement for all of us who hodls cryptocurrency especially bitcoin. But as I can see on the market, speculation is the factor who drives the price of bitcoin why? Because it somehow manipulates the mindset of the people whether to believe the price to go uptrend or downtrend. So the frequency of fuds and positive news will be a big help, plus if they could see the whales buying huge amount of crypto, they might do the same thing as well.

Niiiice. I believe the bottom is in. If $6500 isn't breached in the near future we can confidently say the bottom is in and Bitcoin is settng up for another rally after the halving, at least I hope so. Looking strong so far though as Bitcoin breached $7500 recently and still hed support at $7300. I hope this is it, no more bear trend.

The market is very inactive now. I am inclined to believe that Bitcoin will not be able to break the resistance of $ 7900-8000 now. The coin needs time to get bullish

That zone $7200 to $7300 proved to be a very strong resistance the price had already been rejected at that zone although there are many other resistance within that zone as you rightly said I believed if that resistance at $8000 is broken with many buyers in the market a ride upward would be imminent however Christmas is around the corner sellers might impede the bullish movement.

Bitcoin is always falling and rising in price. Aren't you used to it yet?

But Bitcoin eventually creates and will create new highs in price for itself, it falls heavily, but also grows even stronger upwards.

I don't think bitcoin can reach $ 8000 this year. We only have a few days before the end of 2019 and I don't see any signs that bitcoin's price will go up. Perhaps bitcoin will be trading at $ 7000 ~ $ 7,500 in the last days of 2019, and bitcoin can only increase to $ 8000 in February 2020.

When you coming with crypto world you will not wonder whit bitcoin and altcoin price, just one moment you close your eyes price can be dump and pump suddenly, if you not ready for trading and loss your money with bitcoin and altcoin never close your self with bitcoin investment, its not way to try before your mentality ready when bitcoin and altcoin have lower price.

The sign appeared on the 18th and 23rd yesterday, you can see bitcoin at $7,700 and then experience a retracement. The end of the year is still less than a week and there is still enough time to see how the market responds back to $8,000.

The decline is reasonable since the 25th because it has become an agenda where every trader sells assets to celebrate Christmas. there is still gradual speculation in the next two or three days.

Bitcoin's reversal is common when support levels are strong, but Bitcoin's overall situation is in a long-term downtrend, which may be a slight recovery. We can't know exactly which trends Bitcoin will follow, it depends on many factors involved.

Undoubtedly, there is a difference in the price of bitcoin. Today there is a bearish mood and the price is falling. Soon, many traders expect a bullish mood.

As of now, the price of bitcoin is going up because of the investors that invested during holiday season. Sooner or later it will be back on its original price. Do not lose hope because we all know that the bitcoin price drop is normal because it is volatile. Continue to support bitcoin since it will recover sooner or later.

As of now, it's just a short-lived pump. It seems that we had hit $7,600 as another resistance level where people tend to sell once it's been hit. Just proves that no matter what predicion we do, the market would still be unpredictable, with large players and decentralized market, anything is possible.