Bitcoin Forum

At present, the price of this currency has increased by 2.17% and may continue its upward trend towards the resistance level of $ 9,500.

Bitcoin prices are rising and the resistance zone has recently broken $ 9300.
The price of the currency reached a new weekly high of $ 9372 and was above the 100-hour simple moving average.
A short-term uptrend channel with a support level of $ 9290 is formed in the hourly chart of the Bitcoin / dollar pair.
The currency remains at the support level and is likely to continue its upward resistance to the $ 9,500 resistance level.

Yesterday we saw a lot of positive signs above the $ 9100 level. Bitcoin began a steady upward trend, breaking prices above the main resistance levels of $ 9250 and $ 9300 and entering the positive territory.

Prices even peaked at $ 9,300 and peaked at a simple 100-hour moving average. A new weekly ceiling was set at around $ 9372, and now the price is adjusting to lower levels. The price fell below the corrective Fibonacci level of 23.6 percent in the upward range of 9178 to 9372 dollars.

Bitcoin's hourly chart appears to be a short-term uptrend with a support level close to $ 9290, and the price is approaching the channel support level at $ 9290.

http://s12.picofile.com/file/8402231800/%D8%A8%DB%8C%D8%AA_%DA%A9%D9%88%DB%8C%D9%86_1024x486.jpg

Key levels of Bitcoin support
If Bitcoin starts its downward correction below the support levels of $ 9292 and $ 9275, it will probably fall to the support level of $ 9245 (the recent broken zone).

The next major support level is around $ 9,180, and if the price falls below that level, Bitcoin is likely to return to the downtrend in the short term.

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*The moving average of convergence and divergence is slowly entering the descending zone.
*The hourly relative strength index is declining to 50.
*The main support levels are $ 9275 and then $ 9180.
*The main resistance levels are $ 9350, $ 9375 and $ 9500.

A brief one on this. The support levels you pointed at have all been met and broken down and the resistance too. The price of bitcoin may not be looked at from support or resistance levels for now because soon we are seeing a huge run. So trading now is to follow what the market is doing.

Moreover, moving average is not behaving before price action.

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign.  ???

Positive sign? Only we can see it when we will see bitcoin cross the 10k resistance and stable for a week. :) Otherwise, I can not see the good movement during the 9000-9300$ up-down movement.
For a while, we are seeing bitcoin is scrolling 9k to below 10k level. So I don't get the positive sign still until it crosses 10k and holds the price.

Trying to break the resistance level at $9300 it will again retest and if it will break it one more time then it will probably be a sign of a bullish bitcoin market. Well, I am looking forward to that because we have been into this price for so many weeks now. $10k'is about to break let's look into that this coming days.

It's too early to conclude that since we already on 2nd candle stick after BTC reach 9300 level. We need to closed above it today so that we can break the downtrend line. The volume is too small and I believe this recent short price fluctuation is just normal and same with other event recently when BTC hits the downtrend line.

For me, until there is a significant volume then we can confirm that BTC price already gaining momentum again for another price surcharge.

no they don't show any bad sign at all just like the simple rise to whatever level below $10k is not a good sign. it is just the market fluctuation in a range that it has been stuck for many months now.
the reason why we aren't seeing big rises is mainly because everyone is currently waiting for some sort of "signal" before jumping back in while the whale-accumulators are buying bitcoin cheap and day traders are pump and dumping shitcoins. such signal could be some build up or the breaking of $10k itself or some positive news.

Nice post, I liked the detail and MA references, as well as the lack of plagiarism - good job. Can't argue that on the 1hr chart it does look bullish, but for me that's about as far as it goes. It seems that mainly people in this thread overlooked the fact you were looking at smaller time-frame which is unfortunately. Probably best referencing the time-frame next time.

The 4hr chart still looks like a shit show, with strong resistance around $9.4K-$9.5K as you referenced (200 MA):


Daily chart doesn't look much better to me either, strong resistance around the same level as the 4hr (particularly the 50 Day MA):


Finally from an alternative perspective there is also this major issue:

I do not expect to see bitcoin price will still increase and break $9,300 this week, but if that happens before the weekend, then that can be a good sign for us to watch for what will happen in the next week, and hopefully, the price can increase more than $9,300. But still, the bitcoin price is unpredicted, and we don't know if the price can grow more than now because we already see when the price increases, the next hour the price can decrease, and back to the higher price again. That situation happens many times from a few weeks ago, and we need to enjoy the ride. Don't forget to place your order if you want to get the chance to make a profit.

Thank you for the analysis and it is definitely a great article, but I have an opposite opinion to you. I would argue that bitcoin is just finally reaching resistance to prepare for a major dump. I'm not a good technical analyst but I am pretty good on fundamentals. Our current economy is not stable and there are still many unemployed people out there but the stock index is still rising. This is something against the natural law and a bad thing will happen soon.

The resistance is too strong, try to observe to the daily chart of the bitcoin and you will see that whenever the price reached or got near at its resistance level; the price resists where the it is bouncing back.

I do not see any signs of improvement because the price is still doing sideways. There is no clear movement of the trend and for me it is hard to find an entry point because the price is just consolidating. The RSI of the bitcoin is too messy because it is creating lower lows and lower highs and it id a sign of weakness for me. The best time to enter whenever there will be a breakout that will happen where the price will pierced the resistance.

let them say whatever they want,and let us do what is necessary .we are here to Invest and not just to listen from everybody here specially those random people who says this and that.
because if we will do the same then lets expect our money will gone in the air.
If there is another bad thing that will come it must have been done already because we have already survived the hardest part of this pandemic,and now we are in recovery already.

Yes, that's a relief. Just right now, the market is going green and good. I'm just trying to compare what OP is saying and those that I've seen elsewhere telling that the charts are showing bad signs.

I listen to any open idea but I'm just trying to look at both sides and there's always two sides and opinion for the charts. But anyway, I wouldn't let the negative touch my feelings as I'm always looking to the positive signs.

I am looking forward for great future once the full recovery of bitcoin price will happen, and I am hoping that everybody will be worthy of all their hard work and patience. Let's have self confidence and have strong faith towards our conviction. Don't be discouraged with some minor price fluctuations, because it's all part of the correction process.

Today I've seen the price moving towards $9500, and as per OP this is the next resistance level. Good to see that in the last 24 hours the price suddenly increase after like months of moving sideways and this could probably the break out run that we all have been waiting for except that that the increase is just minor.

So let's see if we can get to $9500 and then wait if it will continue or if there will be selling pressures again. We are approaching weekends, and usually the market shows signs of slowing down during this break.

Bitcoin's price is showing positive signs because it doesn't go down to $9,000, and its the price is now in $9,300, so there are chances that the value of bitcoin could go up to $9,500 or more. I think a lot of people are now waiting for bitcoin to increase for them to sell out their bitcoins for them to protect their funds.

Finally, bitcoin price can break $9,400 although right now, the price is down for $9,383. If bitcoin price can have more support, the price will be back to $9,400, and even the price will have a chance to surge to the high price. This moment will be good for bitcoin to increase still, but we have to be careful because the trend seems not predictable.

But I guess we will be still at a sideways for more because if we see on the market, the price stays at $9,000-$9,400, and there is a chance to see the price can go down if the support does not come to the market. Hopefully, the price can break higher price this weekend, so the next week, the price can break another higher price.

Did it? I missed it but anyway it's still a quick move on that price. As long as bitcoin keeps moving like this and it's reaching again those levels that we've been before, this creates a bullish sentiment and can make those bearish people turn back to bullish.

We're gonna see a correction this time but it wouldn't be high. If it won't break $9300 for a long time, I think it will start to create a FOMO again for those who have been expecting the price lower than that.

If you will look in market now then maybe He is right because it seems that Bitcoin price is starting to make Moving Up.
Even if there is some bad things coming soon what i believe is important are the capacity to handle this and wait.
Maybe sell some and wait for bear?
But of course i will remain as Holding.

I think keeping that support and resistance levels at your mind, it is also quite important to remember how easy it is to break them. We are literally breaking over resistance levels daily and going under support levels daily as well. Remember during pandemic it moved from $9k to $3.6k at the bottom in 5 hours, that is how long it took to drop the bitcoin price, and remember it was around $3k and went to $20k in a month, that is how easy it is to break over the resistance.

So, yes they are important for day trading, but in the long term they are useless and can't stop anything at all in any direction. Looks like it is a bit bull right now and I feel like it will definitely go over $10k this month, but this is not because of resistance level, that is because population inflation and that's it.

Mate we are experiencing this ups and down from couple of months, just a temporary pump doesn't mean it is going to rock. Why even many analyst predicted that BTC will cross 20k barrier after Halving but in reality we are seeing the right??

To me if the value of BTC goes more than 12k only then I will consider it as positive one 8)

This your prediction has been reputed by the current market behavior. I see a side way trend that may last for the next 2 weeks. However, we are going to see strong breakout that may make great price movements on any of the side the breakthrough happen.

There is another story to this, the halving happened and even if it takes a couple of years the analyst predicted will be true, no one in the right sense that saw the past two halving will predict that the price would rally to $20k just after the halving as everyone knows that it will take a few months to catch that momentum.
The price is hanging over $9k for a very long time which is not a bad valuation considering what the valuation was when the halving happened 4 years back.

^ Definitely right, if you are talking about BTC halving result. Look at the previous result, which shows that BTC halving was had an effect after a couple of months or longer to wait 1 year. There are people who believed on this theory and they are all waiting that it will happen again or repeat itself.
I am always positive thinking to the result of the BTC price that it will pump up again and we are almost there on a $10k price in the market. Nevertheless, I read this from nowhere (I don't remember) that BTC price was mirroring in the year 2016 that has almost the same pattern. I don't believe this but who knows.

Its not been positive the whole of July if we consider price is unable to break the 50 day average, its recovered from lows is the most positive thing its done but no more then that.  It closed every day above 9250 for about 8 days now but also not travelled further then 9350 above except a brief attempt.   Its pretty contained here in some holding pattern, perhaps some buyer only wants to purchase at this level or some reason its not moving but its hard to call any conclusion so far to negative or positive.   Attempting and failing to hold above a 50 day average both on the 24th June and 9 July says to me price has problems that will need to be faced and likely that involves selling.    I think the signs are negative at least in this respect, further out perhaps its still positive.
   I'll repost a chart Tone vays drew which speculates a larger term where price can find a trend up here, however its yet to appear in any way imo.   Actually his last chart of his I have appears negative so have that to ponder on but I think longer term in this year he thinks a rise develops

I don't see anything like that, positive signs? We all that positive and optimistic for the incoming but unfortunately, we are heading for nothing but still at a low market support level. Halving effect is nothing to see at this time and anyway, we can't expect it also to take effect in this situation.
What we asking for now is to keep the market stronger and given a chance to break that $10k wall, not to be more speculative to go further beyond.
The situation is really bothering so much and people aren't much confident to invest crypto but have to secure their health first.

it changes overnight after you posted this one so there might be a misleading if we says continuity of the price growth because volatility continues to show its power and there are always Up and down trend everyday.

checking the availability here

https://www.bestchange.com/

makes more sense because the price in each exchange are far different and we can find good trading specially in arbitrage .

Good look at that because this is all what we are waiting for,the great pump that will lead this halving season to Bull run.

If you look closely you will see that bitcoin just stay its price to $9000 in the past few months that the price of bitcoin does not goes down to $8000 since bitcoin halving have occured. So in a short time, bitcoin could pass the $10,000 or before the end of the year of 2020. All we need to do is to have a little patience and maintain our long term investment.

Many people expect to see bitcoin price can pas $10k in a short time, but if we see the bitcoin movements, it seems, the price is at stable conditions because the price is not going down below $9k or increase up to $9,500. The price itself is still searching a good time to increase, and perhaps, we will have a chance to buy more bitcoin if the price is down below $9,100 because the price now is at $9,150.

Yes, we need to have more patience to wait for the price can break every high price. And no matter if that will happen in the next month or the end of this year, we can be ready for that coming, so we can sell bitcoin at a high price.

Most people here will buy only if there are seeing confirmed signal for directions of prices to be profitable to them. I mean not all the people here are preferring to be buying at every dips as they may buy only for short term benefits (we cannot blame that because they must be active traders rather than being core bitcoiners). Moreover, OP is speculating based bitcoin to be trading stronger above $9300 levels but right now bitcoin is trading below $9200 hence this speculation is basically not in effect any more.

Let me back to the trend of bitcoins, the only good thing what I am observing right now across bitcoin market is, it got power to hold above $9000 levels. But, I wonder how world economic crisis is still able to influence the prices of bitcoin; does it mean bitcoin market is still depending on individual investors who regularly but bitcoins from their day job?

If people only buy from the confirmed signal, I think they can be late to get the lower price because when they try to buy, the price starts to increase. If they can analyze more to find the dips, I think they can try to buy at a lower price by placing at many order position prices, even though buying at the lower price is difficult. At least, they will have more chances to get a lower price.

I think the same as you, but we don't know if bitcoin will survive at that price level or not because, until now, the market is still up and down many times, and the chance to get down will still be wide open. But I am not hoping that the price will go down for more, and I hope the price will increase in the next week.  The world crisis will not directly influence the prices of bitcoin, but it could have an impact on bitcoin price, so we need to wait for more and hope that no world crisis happens.

Or you can do short and still earn a decent besides that long term hold mentality. So it's not that bad to see the price just ~$9K, and traders know to squeeze profits in this trend as well. A couple weeks back we see the price hits somewhere around $9400-$9500 and we think that we are in a bullish signal. But it's not as trader short bitcoin, pulling the price again. So this kind of trend will continue and we don't know when we are going to see a break out run.

You don't need to see 12k$ value before believing the positivity of Bitcoin because if you have been  here and knowledgeable about Bitcoin then you know that the strong hold of bitcoin price at $9k for how  many weeks now proves that bitcoin is really reliable and has positive future.

Dont be blind by the speculation because the proof is already here,looking at  the stable price of bitcoin must be considered as positive.

https://coinmarketcap.com/

Just check the trend and you will find what i wanna say to you,Trust Bitcoin because this is our only Hope here.

Or It could take a year, considering the fact that we're in the midst of the pandemic. This time is different than the past 2 halving, and it's surprisingly Bitcoin maintained at a good level after the pandemic made a huge negative impact in crypto space last March.
Though, I still believe $20k isn't far from happening next year at the very least.
These current movements doesn't indicate any positive signs nor negative signs in the next weeks.

The same surprise makes me to think like this halving may not be different from the last two :). Bitcoin markets proved its potential to stand against pandemic and slow economic conditions then why not get into its usual cycle toward a new ATH. I guess we are expecting it to react earlier than its usual time. Anything only after the coming August month will confirm about the impact of pandemic into bitcoin markets.

Neither of positive nor negative sign for next movements in bitcoin markets, must be really a ridiculous situation for all of us. But I believe pandemic will get settled down by the end of August month but from the beginning of August month itself, we are going to see bitcoin markets getting into bull trend as just confirmed news about vaccines will be more than enough to make investors and institutional fund mangers into action. This way we can expect bitcoin markets into the region of $20 by end of this year itself.

People are getting crazy about the price, it has been so dull and so boring that people are basically not even considering it normal anymore, they are thinking this is something that is definitely not even close to what we would be looking for and we should be going waaaay higher or lower right now. At the end of the day there is really no way to know exactly what you could be doing with such a price that stuck at the same level for so long, when it moves up and down you know what to do but nobody knows what to do when its just the same price for months.

I would think the best course of action would be to actually buy more and more bitcoin so that you could accumulate. If it goes down, you could just wait longer and longer and eventually would go up, if it goes up you could sell and profit.

The support at $9275 and $9180 was held by the price while the price is heading to the resistance at $9500 hopefully the bull will break that zone and pump to the next resistance $9800 to $10000 the bull had shown some volatility and momentum today after enduring ranging for many days I hope the bullish trend is sustained despite all the recent news on hacking of some twitter accounts that many traders speculated that could lead to a massive dump in the price of bitcoin.

Provably next year so hopefully we can see some good news first before we can give a though's about  that since if no fully  revival of economy and also no vaccine maybe we will struggle to see some good numbers on bitcoins.

We seems to see this stability until next month so lets all be hopeful  that there's no dump will happen.

I want to be too positive on it to say that hoping that there's no upcoming dump to be seen. But, it will always be not like what we're expecting to see. Lately, bitcoin goes up suddenly and tried to breach $9400 but it did not happen.

As a bitcoin holder, no bias but that's the best thing to do. Buy and accumulate as much as you can. We will never know when the bull run will start and when the market will be shaken again.