Bitcoin Forum

It's quite interesting to know about it. I just found it few minutes ago which published by Cointelegraph.

https://cointelegraph.com/news/bitcoin-price-charts-suggest-9k-deadlock-may-finally-end-next-week/amp

Your constructive feedback will be highly appreciated.

At first the article looks like it's about to do some TA but then it follows that good old path we know too well. It goes like this: bitcoin is looking both bullish and bearish and it can go up above 9000 dollars or down below 8000 dollars...

If you look deeper and into the author's drawings you see that his bullish scenario points to a breakout at 9177 and possibly going back to 10000.
His bearish scenario draws the line at 7600-7800 so even the author thinks that if the price goes down you'll lose about 1500 USD and if we go up you'll maybe make 900 on your investment. Not really a 50:50 scenario for a potential investor.

TL;DR: At some point in the future, the price of a bitcoin will go up or it will go down.

Thanks Cointelegraph, TA is sooo helpful.

The article says about the support level in which where we are. And if it goes down, we have the other support on $8k lines.
Welp, nice read though we have the same TAs in each level.

Probably that is going to effects the market price, most of the time articles affect the price since a lot of investors are also seeing these articles.

Still, this is still speculation for sure this is a good thing since a lot of people or investors are already invested in bitcoin because the market price of 9k$ with really has the potential since we notice the market having some movements. A lot of investors are surely interested in getting profit.

It would be great if it (analysis) does happen we're here at 9k for too long days after the halving, too boring, actually. It would be great if the price will remain more volatile for now which is expected to increase after the halving (as what the history did though it could be different for this halving) but now, the price seems stable.

completely agree...bring back the volatility!  ;D  It will be interesting to see how bitcoin reacts to the next serious market dip that I expect to come...hopefully it won't follow it down again (or maybe I hope it will and I will buy on the temp dip!)

Well, there will be a new ATH for sure. Remember that the bitcoin halving will affect after a month, perhaps 5-6 months or even 1 year just like what happened last halving the first and the second halving. Ranging in $9k price is not bad, at least they're still a fluctuations that make the price volatile movement but does not that much. I like to read those article that very optimistic about the price, --they are encouraging newbie as well to hold at the moment.

Stabilizing at $9,000 range isn't the only thing that's good even at this current crisis. The fact that Bitcoin didn't show any bearish signs even If it's retesting the $8,900 support level several times, but still managed to close out above support level is considered even a good sign that Bitcoin might rally in the coming months.

A lot of investors are optimistic in the post halving. What's interesting to see is when Bitcoin will break the $10,000 barrier again and what would be the next movement.

Until we don't see such price touches $10k it will always be just a speculation for others but I like your optimism although we don't really know yet when it will touch at $10k. Bitcoin is kind of staying back and forth at $9000+ to $9200+ over a week, I wonder if this $9k-ish will be ever gonna stop to see $8k or $10k. We have had it already before it's just that we were just too lucky to see such price staying at $9k level over the past few weeks.

Haha, you got it, the price will go up or go down simply as that. And we have seen predictions that we should be bullish by now as all indicators are pointing (like the TA is this article). But it seems that the market is not listening.

I would tend to agree that the market is somewhat boring, when the price is just sitting a nose above $9k But this is not the first time that this has happened, and this could even shake the weak hands as well because they see no movement and would just go out and exit for the time being and probably shifted to altcoin. And then just comeback when we have a break out run. Not sure if this is a good strategy though.

This is what bitcoin makes an exciting journey for all of us. Been decade of speculating and all, yet, no one can predict the exact price in the market. Even self-proclaimed experts doing their TAs and other types of analyses, they still can't get precise prediction. But we all believe that someday, bitcoin will go up and that idea keep us here in crypto.

you are right tippytoes...I am a long term bull myself, but it still more fun to watch it bucking then this boring 'consolidation' style movement ;)

The price of the bitcoin stays around $9000 which is for me a boring investment because we are almost a month for that price hoping that it would change its price for the next month or next week, it would be a boring investment if the price will not move, rising or falling is okay for me because I already have small investment so when it goes high I will make a profit, if the price will go down I will invest more thinking that it could reach more than $9k within this year, that is only my predictions, I can't say that it might happen but I will stand with it. There are so many predictions from different personalities but there is still no person who can say the accurate one.
I am also waiting for the bitcoin to move, the investment for the bitcoin will become passive because there is no big movement for it.

The price movement doesn't have a strong momentum, that's why it didn't gain consistent increase. We can't expect huge growth, since fluctuations and quick downtrend still exist. Furthermore, this entire month of July has no progress to consider because $9k range remains stable.

The longer the time frame, the more accurate the conclusions are likely to be.  Some of the charts there he drew it just for July mostly which is not saying alot as we havent moved in price greatly.
   Theres something of a declining price trend, lower peaks and as always if it can break that sequence its likely we can try higher and prices upto 10k perhaps.   More likely is the descent in prices puts pressure of support below and I think that hold is in decline.   If we can keep observing prices attempting higher and making progress we can be more optimistic but even just this morning its attempt to rise has failed at a weekly measure so weakness continues.

Yes, and we still haven't finish this month yet, so there's a lot of things that can happen and shift our conclusions.


It is still very weak, every ascend that we make are are greeted with a sell off that's why it looks like we are not moving an inch. And there are a lot of price resistance obviously, but it's good to see the price is bondering $9000 and it's just a matter of time before we see a break out run that will hopefully push the price to five digits again.

The greater chances that those holders will try other options, alts market is more likely the venue for traders to try working
with some good trades. In regards to bitcoin, still speculative and everything will depends from the market movements,
not easy since there are no major impacts or influenced that makes the price will go and rise or
stay flat and dumped down.

Nice TA although we all know such analysis are not fully reliable. Also, I don't think that we've found something new. For longer time now situation with price is pretty much the same and everyone is expecting any kind of stronger movement in any direction, even negative one. Despite all that I don't expect neither big fall or big rise.

the unbelievable is see things like these:

Kraken’s Head of Business: ‘Bitcoin Could Go to $1,000,000‘ (https://cointelegraph.com/news/krakens-head-of-business-bitcoin-could-go-to-1-000-000)

something impossible to happen, but some people still insist on these numbers. Something that always takes note:

When someone does bitcoin price analysis/forecasting if you hear that person said the price is going to fall then get ready because the price will go up a lot, but if you hear that person said the price will go up then get ready because the price will fall a lot

No, honestly I am not expecting negative movement; probably you are referring the traders who are making use of derivative exchanges ;). Even I am not loving the current stagnant condition of bitcoin markets, I am somehow comfortable with it rather than feeling frustrated like how it was by the times of 2018. I mean it is always good to positive or stable market conditions rather than having a falling down markets for the spot traders and long term holders.


Impossible until you see it on live markets. I have seen many people in this very same board claiming $10k impossible but experienced up to $20k later on. I am not sure what makes you people to assume big prices are not impossible? Just by marketcap calculations? Or the money required to pump unto those levels?

The article just pushing people to think differently and think Bitcoin's price will no longer move high or low. This is absolutely nothing. The market remains volatile and we gonna expect any surge or bad dump all the time. Because we are stuck at $9k+ for quite sometimes but it doesn't mean that we are closing our way to reach back $10k or even higher.

I wasn't to assume for Bullrun but I still do believe that we reach another ATH in the future once this global pandemic is over. We are not yet closed to that instances but for sure, we can make it once again.

why do you think once the global pandemic is over Yamifoud?  I wounder if the pandemic will generate even more interest as an inflation edge/diversification investment considering all of the world's economies are printing more and more money because of all of the pandemic related costs.

Because we can see a global recovery since for sure all will resumes to their job and businesses, and if people will have money for sure they will come to their investments and might bitcoin will get a benefit on it. Remember we are still on the hype of halving so might this one will be bring up until next year and maybe we can see some good result.

a good counterpoint ultrloa...in other words during this crisis people, in general, have less money to invest and/or are less sure of their financial future. Therefore, investing in speculative/historically volatile bitcoin that is still poorly understood by the average investor is less likely.  I follow you both now, thanks.

there is no direct correlation between the development of the corona pandemic and bitcoin investment, obviously very different.
bitcoin has its own way to reach a potential market and is not too affected by the world economy that is affected by the corona pandemic.

so that there are still many people who have capital and are still confused to invest which is very tempting during this pandemic. of course the answer is investment in bitcoin because it is immediately clear that the development of bitcoin will not be affected by it. bitcoin will always be the answer to the best solution other than possible with gold of course.

We have had a lot of this ta articles that keep telling us the samething over and over again. I have read many articles on trading and in summary there all tell you that it end in both bullish or bearish direction. No one really knows the next direction the market is going to take using technical analysis but I think we have some whales that always do the opposite.

What do you think of the recent spike though? I know its not minimal, but I was surprised to see the price suddenly surge above $9300, could this be the break out run that we are all been waiting? Or this is just another pump that manipulators are doing to look like a break out but it's fake?

We will see if this is a fake break out of not, too early to tell and the increase is just 1-2% if I'm not mistaken so there's no FOMO. Usually when we have a fake break out there is a huge increase.

Probably investors wanting to put some pressures on the market and observed what will be the net effect in the next coming days. Manipulators are always there, just waiting for the perfect time, so let's see how it goes from here.

When there is that type of small increases those are just daily spread that nobody should care about, they are not really worth enough to make a discussion point. As long as bitcoin is between 9k and 9.5k I wouldn't really say that anything would be surprising, it is boring and there is no movement. Tomorrow morning I could wake up to bitcoin being 9k or 9.5k and they both would be equally boring and uninterested to me.

What would be interesting however is if the price goes under 9k eventually or goes to 10k eventually, those are some big changes because it hasn't happened in a long time and I would love to see them go up like that eventually. Hopefully we will see it go over 10k before we see it go under 9k but until either of them happens these are not moves that anyone should care about.

Yep, this is not a significant change that will continue to grow, current prices will not be strong enough to continue to make up to 10k even now stuck at 9.3k then what do you want to talk about even though there are many TAs scattered there yesterday about this increase still at its end? going back to 9k-9,1k and I don't think this is the beginning of a big pump but friction from a market that is trying to pump but isn't strong.

I was not really cared because basically it will come back like everything if it has passed 10k + resistance then it will be a good start at the start but waiting is very boring.

The person who created this article just speculates the price either it may go up or still it may remain the same, BTCs seasaw game is still in progress as the price is maintaining from 9k to 10k.

Price may go up only if there are some bull Investors invest in BTC else we can't expect a change in the price. However let's believe everything is happening for a good cause.

I just don't know the reasoning why Cointelegraph publishes articles like this.. There weren't any important insight on the current price movement and the trend in which bitcoin is in, just a plain "bitcoin's price may either go up or down" thing that can be finished by anyone with an ample English vocabulary. I'd rather read a lengthy TA on current price movements that most of the time I don't understand the terms and have to search for it somewhere than see something like this article.

Anyway, price may go up or down, depending how the market and traders react. ^/s

What would you expect? This isnt something new that these news sites would publish out non-sense just for them to have something to show up even though it isnt really that necessary.

This is why im not really that a fan of theirs and so as with other outlets too.I do only read up when there are big events that do happen but for a consolidating period then theres no much interesting things that
we can expect on.

They do  just say generic stuff which majority do already know even if they wont tell.

Those without funds(fiats) are regretting their actions right now because seeing the price of Bitcoin going down and ethereum without them having funds to buy from the dip. The novel coronavirus pandemic had done more harm to countries economys than anyone can envisage. Those with fund after the post-pandemanic will jerk their fund into Bitcoin and other potential cryptocurrency.

We've been stuck quite long at $9k range. I'm not sure it is fully because of the pandemic case but something to put into consideration.
Looking into the resistance level of Bitcoin, I'm not seeing we can possibly move high above $10k, and probably Cointelegraph is right, we are lying dead at $9k until we can get out of this crisis.
Hypes has concluded to show this time, maybe whales are resting their life and not to interact with the market position. I hope they will come back soon.