Bitcoin Forum

I don’t know on any basis I assume we can get 12000 dollars, but reaching that level is very unlikely, we have resistance centers at 9700, 10300 and 10700 dollars that make it difficult to rise from 9400 dollars to 12000 dollars.

Even the breach of the 10500 level requires a break of a strong resistance level, which the price proved difficult to break when the price bounced back to 9500 when it reached 10100 dollars during the past days.

The decline is likely, so long as we cannot rise, the decline will inevitably happen.

When I look at the graph, I see a higher chance that the BTC crashes. Declining volume is the best indicator, simply there is not enough power to go through the $10,000 resistance line, so the next option is down.  ;)

Just like we are currently in, the OP talks about a break out to $10.5, yes we did touch that price but after that its been a roller coaster ride as the price fluctuates and we are now in the border of $9k and it's possible that it can go down even further as we don't see enough trading volume in the last week or so. And that $9200 resistance? it didn't hold so obviously, the price went on another decline. Let's just be positive that we can go to $10k in the last quarter of this year.

There is no real indication that the price will shoot to 10k any time soon. The graphs are not showing it, the volume is not showing it. If anything, the price will only come crashing below 9k.  It did already going far as 8.8k. Talking of a long term, yes we can witness that upward movement. But for now, I think it's going to hover around 9.3k and below

With the current several days that we have, it had to go $9100 and then recovered a bit $9300. I think for the next days it will show the same pattern just like 5 days ago.

But base on the most recent for its chart, there's a potential uptrend. This looks favorable to those that have bought when it reached under $9000 or even at $9000 level.

Sure it's speculation but I echo the sentiment. Stocks have suffered, Covid-19 wave 2 fear is setting in, and bitcoin is being rejected at resistance levels with decreasing volume.

I'm equally bearish on the price of Bitcoin
But the world seems to be getting messier, which is a good thing for Bitcoin...
I don't know if I should be happy or sad...

Indeed. It seems the price will not go anywhere except for up and down for that level price. But we hope that everything will change this week, and that can give time for bitcoin price to increase and break $9,200 again. If we take a look at the chart, we can see the order price at the market does not move too fast and tends to slow to move up and down. I guess that it seems bitcoin price is waiting for something we don't know because the price is still not going to go up or down too high or low.

But for a long term target, I am sure that bitcoin price will have a chance to back to $10k, and whether it will happen this year or next year, I think people will not have a problem waiting for that.

Your thread does not belong here, you can move to the right board https://bitcointalk.org/index.php?board=57.0

There are a few users as well who active to make the latest prediction for bitcoin price based on his technical analyst like https://bitcointalk.org/index.php?topic=5255531.0 and https://bitcointalk.org/index.php?topic=5238343.180

Volume is one good indicator if the price will increase, and so far, it is really weakening and it looks like to me that someone is manipulating the price an pulling it to just the $9200 range. I have a feeling that we won't see any significant break out due to this. Long term though, $10K is doable. The market is reacting to the world economics as well - the covid-19 is still around so there is no money to get and investors will likely hold their fiat than to invest.

Time shows you were right

I think it will be interesting if the OP will come back and make a follow up predictions.

But obviously, since it is taken from that article, we really know if he is the actual author. Anyways, it seems that $12k is the resistance now, although we touch it barely, it didn't sustain and it will take another round of money to flow again to push the price to $12k and then maintain it. Two different stories, touching it and then maintaining at some point without any selling pressure.

The OP cant do any follow up of the presictions because hes not the actual author of the article and the previous prediction was done base on the stable in price of the market while resistance to dump and logically pump in price should occur.
In the meantime, here is another prediction provided by the site (https://www.platinumcryptoacademy.com/crypto-market-analysis/bitcoin-price-news-consolidation-phase-after-blast-off/) used by OP.

Anyone could be right with their predictions, it only matter of when will It going to happen.
If you look back at the price movement during that time, Btc has been stabilizing at around the region of $9,000. Everybody was predicting ones it breaks the $10,000 resistance again, a potential rally will occur up to $15,000 in a gradual motion.
Nevertheless, predictions remains prediction, when your prediction eventually happened that doesn't automatically mean your right specially when there no estimated date specified, because predictions like this is logically bound to happen.

And that is why everyone can really make their own prediction and if it a hit, then they can call themselves experts, LMAO. I'm not against TA, but most of the time, those who claim to really know to read graphs are just simply trying to make a line and connect the dots and make a prediction to fit their narratives. And obviously, our next prediction should be the price could really go up, by looking at the current sentiments of investors because we are in a bull market already.

Thanks, and just what I have suspected, LOL.

@Yaunfitda - I absolutely agree with you, that's why we really need to be very careful on following these so called experts, because we all know this is prediction is just a wild and educated guess and it could be a hit or miss.

Anyhow, there is a chance that the obvious resistance is $12k, but this could be break as well. It's just a matter of time and we really don't need to hurry and let the market flow because sooner or later we will reach go there.

Every predictions needs to accompanied by good research and study on our side, it will be
effective if we also understand the possibilities.
After this thread, it's really interesting to read those follow ups coming from the original
owner of this prediction.
The chance to get good forecast regarding to the next market movement is another good
thing to watch out.

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Based from the site, the chance of moving forward and reach $28K up to $100k as a new
target, let see how things will comes up after.

Just following the link and you can read more of their analysis here: https://www.platinumcryptoacademy.com/crypto-market-analysis/

Sorry, but I beg to differ, just reading graphs then connecting the dots? TAs are great tool but if you are following random persons or institutions who does some TA then you'll wonder it's confusing. TAs are not meant to be perfect but it's more like a guide to predictions, past resisitances becomes support, new resistance will become support one day not that accurate but it really do happen. Sucks sometimes to those wannabe TA analysts, they can make some bad trades most of the times.

I'm glad you are wrong on this one market is showing strength and capability we are almost at $12000 and hopefully the market will give us a big surprise before the end of the year I also thought that there will be pull back or correction I know that market will always have correction there could be some delay on those correction.

I think people are wising up to BTC as a way to flee the USA.

Many far left and many far right fear the election (both think their guy may lose) and are stashing wealth into BTC just in case.

Thus price is rising.

Trump busted a move yesterday which means the USA gov will be printing some more money so many fear USD will take a fall.

$12,000 right now is the new short term resistance already as we saw a short dump when it reached the $12,000 price.

Now if the $12,000 has been passed on and stayed above there for a couple of days then we may see a further up trend. However, I'm expecting for a short dip to happen at around $10,000 or below of it before a major rally will happen.

I love how Bitcoin made to $11,900 few days ago, it's kinda psychological part and dump again. For sure lot of people set their profit order on that part area which not exacyl on $12,000.
Well, that's not the big deal now. If we look on the momentum indicator of Bitcoin, on Relative Strength Index (RSI) we saw an overbought part on 1D time frame on the monthly close days of month of July and now we are near again to dropping at not-overbought area which is good again to accumulate.
I am expecting to see $10,000 before $12, 000. Well, $10,000 is kinda far but who knows.

That is a realistic possibility that people are worried that the dollar would fall but the problem is that it is not just the US government is printing money during this crisis as majority of the government around the globe are doing the same and do you think that the price of bitcoin would stand tall when the economy falls. I can only speculate as i have seen the bitcoin market going down whenever the stock market faces a correction in the past one year.

I actually didn't expect that to happen on this stage while there is a big crisis happening these days and for sure we will see more pumps in future. Although its hard to say on which price we are heading next but still we have a huge glimpse of $12,000 since we are one step closer for that value to come.

And we need more demands and other things that can help bitcoins pump more.

You make a good point but haven't you notice that the crisis didn't impact crypto market and the reason for the current dump in price is the weak hands that enter the market when the uptrend happened which are now cashing out their profit.
Meanwhile, I dont expect the uptrend market to happen so soon and since it has happened we shouldn't expect the uptrend to last long.



It good you're aware about every predictions to be accompanied with good research from investors or traders ending which still don't guarantee the investment profitable and the $28K up to $100K predictions are not acceptable by me.