Bitcoin Forum

This is the marketcap dominance of Altcoins :

https://i.imgur.com/7lmmtj7.jpg

As far as BTC's volume though, yes there is a quick jump in the last 48 hours after the dump, which means that there could be lot of buy orders getting executed. So we will have to wait and see again what will be the trend or if an imminent break out is to be made.

For altcoin market, it's been this way for the last two years if I'm not mistaken, so I'm not expecting any pump. BTC is still overshadowing them, and obviously, only ETH is moving along with BTC.

I agree with you. Bitcoin is currently in a demand zone and shaping a triangle. Anything can happen at this moment. However, the uptrend is kind of strong in which I believe it will hold the price of bitcoin and make more money to flow in. However, we still have to prepare for the worst-case scenario. I do have the fate in this uptrend. The economy is recovering from the pandemic and so do bitcoin. Therefore, if you want to buy bitcoin at this moment, split your capital into two-part. One for instant buy, and  another for $7500

Big Movement will happen starting next week, I think, right now the price is still consolidating at $ 9500, maybe it will go up to $ 10,000 again,
and maybe this is time for alts  ;)

https://imgbb.online/images/2020/06/12/IMG_20200612_223256.jpg

                            
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https://imgbb.online/images/2020/06/12/IMG_20200612_223318.jpg

It is very easy to say that something might happen next week or so. But without any valid technical analysis or thought how it will happen, it's a mere guess just like what I do.  ;D

Looks like there are many analyses that I have read says the same thing. A big correction is about to come but we should wait until it finally shows the clue and pattern, might wait for $10500 first before thinking of next move. Thanks for the analysis btw lasky.

The volatility has reduce and it might go In a way of what happens at this time in 2018. The volume has also drastically reduced since yesterday. Don't expect magic this time many fund has been moving out of the cryptocurrencies market since the halving.

I'm thinking that volatility is just starting. Last week and this week ending has been really volatile. Volatility is when price isn't dragging. Yesterday, price went far down to $9,100 after breaking $10,000 two days ago; that is volatility. I'm still expecting what happened in 2017 to happen as halving is significant to btc price. When ever price completely break $10,000, we could be seeing more volatility.

Support lines are way too strong compared to the resistance points. If we can break the resistance that is obvious that we will reach to above $11k levels, I am not entirely sure about over $12k but that is of course possible, this is bitcoin after all, there is nothing stopping some whale to buy thousands of bitcoin all at once and making it $12k+ right now, but I see $11-$11.5k levels as most likely.

Could support be broken and go down? Of course it can be, we just had a $9k to under $4k break down few months ago (mainly due to pandemic) and normally that should have been very very hard to achieve with all the money that was required to do it but it happened overnight. So, all the calculations of what could happen could become worthless sometimes, you just have some whales doing whatever they want.

Well my Speculation come truth again. It was I posted on last night.Which is Bitcoin touched 9520 & again dumped around 9290 dollars. So what we could expect now?
Guess your Speculation below......

We've been consolidating for a whole month now above the $8,100 monthly low. If that breaks down, there will be a major stop run past that zone. I believe the market will drop further than most bears currently expect.

Looking at daily pivots, the $7,200 and $6,400 areas look much more interesting. Considering that BTC loves to go to extremes, the 0.705 retracement level around $5,800 looks possible too.


An equivalent drop to 2016 (the post-halving downtrend) by percentage would suggest the $6,200s.

2016 is why Im neutral on this whole year really, it did even out and accumulate at that time which is something we need to watch for.   First objective here is to go past the year average to meet the 200 day, whatever is the largest volume in those areas could prove to be a turning point or a place for shorts to take profits hence we rise from there.
  Near term its turned at 9200 lots of times and we have not even passed that, its the 50 day average now so might add up to something significant is passed below.

You seems to be prediction maker huh?After creating this thread about bitcoin movement itself

https://bitcointalk.org/index.php?topic=5254022.0

Another one comes about the bitcoin and alts this time?Well i am just hoping that while you are establishing your credibility here some of your prediction may come true.

I don’t think it is necessary to look for much higher like 12k and 13k when we cannot even stay a week in 10k level,this sounds over expectation for us and the market as well.

The daily and weekly charts clearly show a very strong resistance zone as well as a decrease in trading volume. This area breakout does not seem possible until the volume is reached. We hope to see a much bigger bull run if we can break the resistance area.

These charts at the moment don't really mean much when BTC is highly correlated with stocks, especially in a bear trend. You can plot a M5 chart of the SP500 with bitcoin and you can see they follow each other very closely.

Right now it depends what happens with the stock market which will determine the short term trend for Bitcoin. If the stock market crashes again to a new yearly low then BTC won't be breaking $10K anytime soon.

However the recovery should be pretty quick like last time.

you are calling it "fake breakout" and "pump and dump" NOW because you can see the price didn't go up. otherwise despite your follow up says, the volume is just as good as previous time and the demand is also waiting there to jump in, again just like last time. it doesn't take that much to see $11k either but it will take a lot to see $8.6 let alone anything in $7k range!

as for alts, they always move when bitcoin is stable meaning nowadays. if bitcoin has a breakout or even a drop then it will be nightmarish for altcoins as they get dumped while money migrates back to bitcoin market.

$512 dump⚠️ 9400 to 8888!  Actually I was updated previously! ALT market completely red in blood! Well, wait until btc get stable then ALT will bounce back again✅

What also I am looking forward for that $10,000 is being a bull trap for Bitcoin now.
Volume is decreasing but we still can't stay above $10,000 or above for even just a week. With these dumps and multiple rejections to $10,000, I  am started to think that we will see $7,000 first before $10,000 again.

Bitcoin can go to any lower price than now. The market is bleeding once again. There is hope for us to buy the coin at a low price, so use your time to buy. But wait, I hope that the price will not down to $7k because that will be too deep to go down, and we will pass every lower price later. Besides that, I hope people can stay calm to see the price falling so they can analyze to have a good time to buy more bitcoin.

I'm sure and definitely the price of Bitcoin won't touch $ 7000 this year,
because we in the range Bullish! so hold your Bitcoin and buy Altcoin, I'm sure altcoin season is also getting closer

Seeing 7k wouldn't really matter too much since we have done that multiple times already. We have reached to a level where bitcoin peaked over 10k, went back to 7k, peaked over 10k, went back to 7k and did this around 5 times now if I didn't count wrong. It was first last year, then it happened on summer/early September, then it happened at the start of the year and now it happened again, so maybe it was 4 times but the November/December period could be fifth or not since it went up but not that much.

At the end of the day bitcoin has been around 7k-10k mostly on the past 1.5 years and it did moved higher or lower time to time but very rarely, all the other days were all 7k-10k. If we go down to 7k again which is totally possible, I would say buy as much as you can, because even if it goes to 3k after that, it will recover to 10k eventually.

Well, you can feel sure about that, but we know that bitcoin can go to any price, even to the lower price. We still see a low price for bitcoin, but now, bitcoin price try to increase the price, and it still going up for more than $9,500,  and the red candle has changed to the green candle so that we might see another bullish trend this week. Meanwhile, the altcoin follows bitcoin so far, and some of the altcoins can try to increase too. Yes, the altcoin season will come soon.

At least we did not come falling that range and the price now is closing to 10k$ again.

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This is the problem if the FUD is continues to spread in market and the panicking people are still losing chances of gaining because all they want is to sell and leave for a while.


if you missed the market price mate,last March we have fall below $5k again,meaning we did not maintain that 7-10k$ value.

Chances of bitcoin going up are less, I personally am betting on the price of bitcoin to fall which seems more accurate currently as bitcoin was loosing its grip from $10.2k and is also falling from $9500, so the next target is $8700 and if we touch it then the chances of a bull run will also be pretty less.
Altcoins always rise in value in terms of USDT and also in relative terms with bitcoin as well when a bull cycle is completed in bitcoin, but we won't be able to see the altcoin pumping cycle if the price of bitcoin won't go up.

what you refer to is only the big every-shitcoin-gets-pumped event that happens during bitcoin bubbles not with every bitcoin bull run. in those events we see literary any shitcoin that is in existence from number 2 on coinmarketcap.com down to number 2000+ get pumped.
but any other time, which is the majority of times, we continue seeing shitcoin pumps all around the altcoin market because otherwise the market closes down due to being useless.

If we do a comprehensive study of the Bitcoin currency path we will find that he knew many fluctuations during the past times to this day, so we will continue to watch the same events in the future, so let us focus more on the appropriate times to buy when the currency price collapse occurs we must buy and wait for the appropriate time to sell thus we can take a net profit.

Nha, we can't expect the market it behaves the same as it takes in the past. It is simply because of many factors that could certainly affect it. That it also makes us not think a bullish all the time but rather to think bearish sometimes also. The vulnerability of the market to plunge or either to rise will seemingly to see all the time. Thus, if we saw Bitcoin reach $10k last week we can't either say also that it turns back again this week. The same thing that will happen to altcoins.

There might be another correction for bitcoin because the price is not increasing too much, but I won't expect to see the price will drop again in the next correction. But I hope that in this green candle, we will see another rise moment from bitcoin price, so that can lift the price to break the higher price again.

While some altcoin follows to increase when bitcoin price back to the high price, but if the increase is not too high, the altcoin will not have a chance to surge to the highest price. If the altcoin can increase so high, then that means, some pump groups have their time to lift the price and take the profit. But the price will be down again.

Bitcoin's pricr has been consolidating in a few days and I hate it. Its price just traded at the range of $9000 and $9600 not gonna move. Yeah, $10.500 is the strong resistance so far, every time the price touch that area then we will see the price bounced back. So, it will be reasonable if the strong resistance has been broken then we will see the price of bitcoin will touch $12.000 and more than that. And it is otherwise if the bearish scenario come the price will down to $8200 and seems it is price is the strong support.

The week started very well and I would say the $9.5k price point is actually quite entertaining for us on the bull side. We know that bitcoin would go above $10k for sure, that is the number that we do not have any sort of doubt at all, even if it drops to under $8k one day soon, it will still go above $10k eventually in 2020, and all of that in mind we are still happy whenever it goes up.

However one thing is confusing when it comes to price right now, if we go above $10k, whats next? Well that is where people part ways, even bull ones. One side says that it will continue to go up and up and up, the other side says the psychological barrier in $10k is too strong to break above too much, sure maybe we can be 11 or 12 but that's about it, we will probably drop back down.

Now I am more inclined to decrease rather than increase. because the economy is really not very good and Beijing seems to be preparing a second outbreak and other countries are starting to have an increase in infections again. This will once again have a strong impact on the economy and it is preparing for the next strong dump.