Bitcoin Forum

Thanks for sharing this. I'm quite on the bearish side in this market currently unless we break out key resistances and then possibly bullish scenario for me. I have a short position now that I've been waiting to be closed too and make some profit. Hopefully soon, lol.

Anyways, it's quite hard to read your topics, especially in the linked speculations that you posted. All of it are good, it's quite hard to read due to the different colors and font sizes. That's just my opinion on it.

Good luck with your trading!

Due to the fundamental changes (such as the massive scale purchases of newly mined coins), I'm bullish in the long-term, the price could likely pump or dump intermittently over the next days or weeks, but this should be leading up to a higher push in the price into a new resistance and support range.
I agree with crwth, some of the colour changes makes your text difficult to read. Using black text except when another colour is necessary is usually better.

Ok cool!  I see, I need stop giving color in my texts. Actually in dark mode in browser it's not so difficult. Btw thanks for your suggestion I am changing my colors & better I am keeping my writing in more natural.

The side way movement is over a month now and everyone expect a spark either to dump or pump price. ATM whichever way it goes unarguably bitcoin still remain bullish in the longterm. Sometimes I feel the pandemic is responsible for the sideway but the market recovery from the march dump is in this economic situation and everyone still holding. The volume in the market still look low for any positive prediction but the Q4 could be better.

I believe that for some of us that has been into cryptocurrencies for sometime now will no that most time July and August has been a quiet time and this year is not going to be different. Bitcoin might began to create the next new direction from September or even November this year as it has been happening in the past.

I'm also expecting that the last quarter of this year will give us a good price boost. But I'm not surprised that we have been in the somewhat 'middle' ground, neither bearish or bullish, just side way patterns for weeks now.

And this is also an eye opener, specially those new to the market and think that the price is volatile. Throughout bitcoin's history, there are patterns as well that the price will remain relatively stable for some time before making a break out run.

Valid points, but they've been valid for a pretty long time now I'd say. I'm almost ready to say to the bears to like come at us all now and do your worst! Or for the pending crash to just get over and done with so we can all pick up the pieces and map the way forward.

I'm actually patient, though. Just antsy at the lack of direction.

Last few weeks? Last few months, you mean.
Bitcoin is moving sideways because its hibernating, which is the most clear evidence of a permanent bear market.

My thoughts exactly, from a similar perspective, a big break is coming in one way or another...

Few weeks or few months in writing doesn't make too much difference in naked eye folks.

breakout of key level might became a case for huge dump & will take some  time to recover.However I didn't mentioned any parmanent dump in chart.

can we even call 1.4% to 5% a rally in bitcoin? i don't think so. and so far nobody ever considered these tiny movements a rally specifically when they are below a major resistance which is the $10k mark.

there is a gigantic space between $8500 and $6000 (30% drop from $8500 and 36% from the top) not to mention that there are multiple much stronger resistances between these two prices.
it is also interesting that you think the rise from $9270 to $10000 is this hard and even if it happens it would be "unstable" and at the same time you think such a gigantic drop to $6k is this easy!!!

Both I mentioned because it current scenario to me yeah I made slight mistake but sorry for that however that won't make too much difference. When you seeing the just avoid some grammatical mistakes it would be better.

It's not easy but where were you when bitcoin  dumpped 10000$ to 4000$? This Match.  it's cryptocurrency so anything possible. Just watch & enjoy if you don't have to do anything.

I can understand that for someone TA (technical analysis) is a way of trying to predict what will happen in a week, a month or as it is usually said in these analyzes that something is very close, or that it will happen sooner or later. Well of course something will happen sooner or later, it makes sense in every market - the price of Bitcoin will not stay between $9k and $10k forever, but this fact is something that is well known to everyone who has been following Bitcoin for years.

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Where were you when the BTC dumped from $1200 to under $200 in 2015 - or from $20 000 to $3000 in 2018? But these were all specific periods, as the drop from $10k to $4k in March happened for declaring of a pandemic. Anything is possible in the crypto world, but there is always a reason why something happens - and at this time of year nothing usually happens, and so it can stay for a few more months.

Thanks for sharing your opinion about bitcoin. Both scenarios are good for all of us, especially who want to make some profit with this trade.

Triangle is shaping but there is still not evidently sight showing that bitcoin will go up or go down. Both forces are showing their weakness and no one wants to make their first move. There is a high chance that we will see this sideway pattern for at least a month. According to my fundamental analysis, bitcoin will go up no matter what. We just still don't know when it will break the $10000 resistance yet

Right now there is an issue that may cause a major movement, the massive purchase by the USDT whales, it is likely that they are buying and then switch to Bitcoin, is it that a next Bullish movement is forming? Bitfinex may be the Exchange where this occurs, of course it is speculation, but it is very likely due to the latent lateralization of the market.

I guess you are little more right but I think you also know that whales can do whatever they want by just for simple matter so that's why crypto market is so much  volatile. Anything possible anytime.

I think in the history of bitcoin to my knowledge, the drop of bitcoin after the classical ATH from 20,000 to 4,000 is the highest and that which people still relate with. Some people thought at 20,000 , price would fly more, they bought and price started to drop.
As for the current happenings now, I'm not expecting a huge drop for long because price will soon go above 10,000.

I feel like bitcoin has always runs between that line of being bullish and bearish, there is really nothing to be done about it and that is why I believe that we would basically be living in the moment and without actually knowing whats going on or what will happen in the future. However that is the good part of the bitcoin world, you get to try and learn and get better, you get to share stuff, you get to laugh about it with friends and you just basically make it a hobby most of the time as well.

This is why in the end we are not going to just see bitcoin move up or down and when we see it it is going to be way too late and that is why we will not be able to make a move on it because it will be too late. It is just a different situation, we have to basically be very careful.

I felt so intense right now because of bitcoin's unpredictable behavior, and same with previous trend experienced last year, bearish market will tend to repeat itself. There's always a possibility that sudden price crash will randomly initiate if ever panic happens unexpectedly. Everyone should be prepared enough to face that reality, and don't ever be emotional on those potential scenarios.

So far todays action is bearish because its showing as lower then the last peak.   If it can build from here and maintain a higher price then its worth considering otherwise but I cant take it as that yet.  I keep thinking its putting in more backing to the ceiling rather then support, of the two scenarios that will make price easier to break downwards rather up presuming its following a logical course; a big ask most of the time :o

https://talkimg.com/images/2023/06/12/A46VI.png

You don't need to be intense as the market has pick up today, it's good to see the price hitting at least $9300 after more than a month of no other or just sideways trading. I do hope that it will maintain at this level and see another run to $9500. And that price will be the big hurdle that we need to get over. I'm not seeing any random price crash, I think we already get over it specially after the pandemic scare has settle down a bit for now.

well i disagree with that but if you think that is true then we are back at what i pointed out in my previous comment, your leaning towards a very big drop makes no sense.
if you think "whales can do anything they want" you should also think that they can equally want to "pump" bitcoin. which means saying "a tiny rise is very hard but a massive drop is easy" makes no sense.

I know whales are influential to the market and could make a change of its trend but it doesn't mean that they can certainly take control of the entire crypto market. Bitcoin will still remain decentralized and what whales do, it is only to manipulate our minds and think next week will pump/next week will dump.

I believe the current market situation isn't bearish nor to say also that we are in bullish, I think we are in between. The low market resistance won't make a lift of the prices and it is really hard to think the same as we are still facing a crisis today that investors are not prioritizing crypto investment than to secure their lives and healthy assurance.

Currently, your TA have just predicted after breaking the $9,200 level, and is trading at $9,500 level at the time I'm writing this. Now, let's test your TA's accuracy again on the coming days If Bitcoin will rally towards a five digit figure or not.
Nevertheless, Bitcoin has been gradually increasing in a daily close out this week.


A massive drop means massive sell out of Bitcoin, and It's indeed makes no sense if whales will dump a huge chunk of their Bitcoin possession at this current price lol.
Therefore, whales can't do anything they want, but they can somehow do something to acquire what they want  :D

We are reaching the levels from $9000 to around $10000 for over two months and we are yet to see a breakout in both directions. The only doubt will be if i take a position the price usually rallies and hence i am not in a mindset to take a position during a phase like this.


If we touch $6000 levels it might be because of the economic situation globally and if that is the case it will take a long time for the market to recover but i am still expecting a small correction before a rally.

https://imgbb.online/images/2020/07/23/IMG_20200723_150640_506.jpg

#Quick Update

We need to fix above the mid line of an Ascending Channel in order to continue growing, otherwise we will take a correction. As the main position is already in profit, I will consider a hedge short if we lose the mid line support.

https://imgbb.online/images/2020/07/24/IMG_20200724_223747_475.jpg

$BTC Update

Now I have a bearish view at BTC locally. We were rejected of the Higher Boundary of an Ascending Channel and possibly we will get a Head & Shoulders. For this scenario to play out we need to receive a confirmed breakout of the 9.500$ Local Support.

Cross above the Ascending Channel will invalidate this setup.

The price continue to consolidate and observe the wicks in the past days and weeks, the price is always resisting near resistance levels at $10,000. There will be a rally if the price managed to breakout but for me it is a major resistance so the bitcoin will have a hard time to break it.  The daily volume is still in daily average but if we see a unique and massive volume then it can be a sign that there is now a transitioning in terms of trend.

It seems, bitcoin price hard to break $9,600, and I think it is another challenge for bitcoin to surge higher. But I am sure that bitcoin price break that price and bitcoin will have a chance to go to $10k, whether it will happen at the end of this week, or another week, or even next months. The volume now looks good, so bitcoin will have more chance to increase, but we need to be more patient to wait.

Bitcoin is still have potential to grow any time soon, it may not be the way we wanted it like it did before in 2017 but it's still showing progress and is good in doing trading. Like what it did before pandemic it reaches amount too low but after 3 months look what the price it, it goes back to it's price and rising. It just need to hold or monitored to profit from it, unlike in other top alts before BTC is still progressive and can say the price still bullish and still have chance in the future to take another level of record.

I can't be that bearish to speculate on the price touching $6k especially with all the bullish news surrounding the market of recent resulting to altcoin spikes and that of bitcoin and ethereum coming days later. The lowest the downtrend can take the price without any major negative news is $8.5k.

Your bullish scenario was accurate as few days back, it broke past the $9.5k margin and a little correction fellowed but that's normal. Just curious on what the future prices holds before the years comes to an end, the Corona fud is becoming a thing of the past which opens doors to more positive opportunity for bitcoin.

So what's your bullish prediction from this point? Not much instead in bearish prediction, who cares? 🤔

I have some other vision on economic crisis. Economic crisis will certainly come but then people will look for safe heaven and currently there are only two safe heavens. One is Gold and the other one is Bitcoins. I can see people will be rushing in buying bitcoin at that point of time when US dollar and other currencies will be losing their value.

I wouldn’t agree that Covid-19 is becoming a thing of the past, but that only priorities have changed since it became clear that the world could not function in full lockdown for more than a few months. The new strategy puts the economy first and then human health - although this is not something that is generally applied, most countries are moving in that direction. What is happening now is just a consequence of pumping huge amounts of money and various reliefs for the economy that is using it to get back on its feet.

Bitcoin and all other markets are currently profiting from it, but the future is still uncertain as without vaccines some countries of the world face an incredible number of infected on a daily basis (USA & Brazil). While it is very ungrateful to speculate in which direction the price of BTC will move, I think the difference of $2000 up or down should certainly be expected, not only because of the current situation, but also because of the volatility that is always present in BTC.

It is totally understandable why the world could not function properly during lockdown but that also doesn't explain why we have to accept people who do not have to go outside and allow them to go outside. Just to give an example, I do not have any reason to go outside, I do not work outside neither (freelancer) so maybe I should be capable of staying at home all day? It means governments should make me stay at home and not allow me to go outside. Of course, it is just an idea but I feel like it is totally possible.

If you do not have a reason to go outside, just stay at home. This is not something I would accept them to do for years obviously, I am sure there will be a point where we will go outside, but why don't we just do it few more months and see how little it could get? Only if we could have done it one more month.

For average Joe, I don't think that we are seeing bitcoin as sort of safe haven, but more of a investment to get out and preserve the value and even get more as time goes by because of inflation. Gold though has a history of being used as leverage for many years already. That's why this pandemic also bring the best of bitcoin and really test its use case, either store of value of monetary system in this current situation we have.

^ It seems we are now heading to $10K price and bitcoin has almost on $10k price. Probably you are right that we need to extend our patient because this also could may a trap that possible there is a huge correction after surging in the market. We have been observed movement like this. I am not good at technical analysis as what others do but I have oftenly read news that probably affect to the bitcoin price too not only by plotting chart.

Bitcoin breaking above $9400 is extremely significant, especially it was around now $9400 - $9600.
I am expecting some small pullbacks this week on around $9200 - $9400. Lets hope it will not go below $9,000 so the bearish run will continue. $9000 is quite strong support now.

Almost at 10000$ prrice but on the other hand it seems so far away. We've been.in.such situations many times and it turned out that Bitcoin is struggling hard to reach 10000$ and when it comes there corrections happen very fast so it's hard to stay at that level or even go above.
Although it looks now that price is heading towards 10000$ I'm not so sure that will actually get there.

Right now, Bitcoin retested the $9700 mark again. This can be a possibility that it can go towards the $10,000 or near it but I'm expecting for a pullback after this small pump of it.
Still the $9000 is the strong support that we are in right now and the strong resistance is around the $10,000. Either it will go break the support or break the resistance.

This trend seems to be a bullish trend because bitcoin price can increase so high, and it already touches more than $10k, and the price seems stable at a price now. The price now still rises, and I see the price reach $10k again, and if this situation can stay longer, we will see a chance to break $11k. Let us see the price will increase more, and prepare your target sell price.

I am glad to see bitcoin price can break $10k because that is a good sign for us to place a sell. If you still want to sell at more than $10k, you need to watch the price move and don't place the sell order at the high price if the price can not increase. But be careful because the price can go to any price without notice, so make sure you decide carefully.

for sure you will be glad now when you look at the charts because btc just crossed 10k u.s dollars again   . its exact value is 10,063.40 usd just now  .

whilest i dont consider this price as my selling point if i can only decide with my money but no i have my wife that also decide if what to do with my coins . we dont know if how high the price will reach , thats why its better to not set your sell order high enough that it will already look unrealistic   .

It's already happening because the price now is $10,200. And the price still increases, even the price already touches $10,300 and back to $10,200. Slowly the price will increase, and I think it's better like this, so people can manage their buy and sell order and make a profit. We need to have a target price to buy and sell so we can use the time to make a profit.

I can tell you that when a bull run starts the price tends to go up and up only until at least a few thousand dollars and I am expecting a bull run now that the market has crossed 10k mark once it will be much easier to cross higher levels because it has always been like getting stuck to a price and once it breaks the price just go bonkers. But, it is your money and if you need cash you may sell the coins, I am just suggesting that anyone who sells now might have to regret.

By the way nice you involve your wife with investment decisions but wife's tend to be more conservative so maybe she would not go for big profits.

there is an important lesson to be learnt here and that is when bitcoin price has been down for a long time and the bear market has lasted forever that means seeing more bearish moves, specifically the big drops that OP predicted become increasingly unlikely and difficult.
meanwhile a trend change becomes increasingly easy. and now we are seeing this transition start and slowly everyone accepts that the previous trend is over and we are entering the bull market.

Looks like the bearish scenario will not happen, everyone is happy about what is going on and I feel like that will continue for a long time as well. Right now there is a hype and FOMO going on and that is a vital important thing in bitcoin world, when there is something like this going on you know that everything will be fine, you know that people will be basically watching bitcoin going up and hope that the price doesn't fall and they will be all going into bitcoin as well.

There are now corporations who are going in bitcoin, that is the real big deal, there are huge hedge funds spending tens of billions of dollars in bitcoin and considering that we as regular personal investors require to be in tens of thousands of us to reach that level these companies are great deal as well.

The bull run will continue to the other high priced, but before we see another high price, we need to accept that the price will make the correction and adjust the price and then the price will have more chance to increase higher. We already cross $10k and even $11k, and in the next month, we will cross $12 and so on until we will see the new ATH.

first of all there is nothing "fine" about FOMO. it is unrealistic buying and the resulting price has always been unstable waiting for a big correction.

secondly this is NOT a FOMO. if you want to see one then look at the first half of 2019 when price broke $4k resistance and it went up to $8300 and crashed -26% in one day. what we have now is still a very small and even slow rise which is about 14% whereas when you compare it with previous FOMOs they are at least 80% and up to 100% rise. the case i mentioned above is 150% and another FOMO would be the last month of 2017 where we saw a 120% rise in one month (from ~$9,000 to $20,000).

Lucky that so far it is the Bullish that comes our way and hoping that Bearish will only drop by to correct the price so that it will be continues growing in the next months.
It has been couple of months that we stayed at below $10,000 and just now that we are gaining confidence again regarding our investments.
$8,700 would be the lowest in  bear and then will pump again to the top.

I did watch this Video and yeah we have been in Bullish situation 2 days ago

https://www.youtube.com/watch?v=0T8Yy4HP14g

But fell yesterday and now?we are back in the game greening the ranking currencies

https://coinmarketcap.com/

I hope more people can say this so the opposite can happen and I make a bit from shorts, a shock move down just consolidating prior action would be cool.   Always seems quite possible short term even if its rising between weeks.    However we haven't spiked interest on the google searches for Bitcoin so apparently we arent in a FOMO stage to the move where it gets really fevered, that lends favour to those who believe we have potential for much higher.

https://talkimg.com/images/2023/06/12/Ao79c.png

I always like a simple picture, since theres only 3 days on a daily bar chart its pretty dam simple :D   To stay bullish we keep this range and move past the peak, if price action is exhausted then we'll tend to test the 10900 area is my guess for a line to watch.   First we probably meet the weekend, bookend to the week and form the weekly bar.   I havent properly considered weekly bars and that perspective but just a quick look at 2019 summer peaks, we have the closing price for each week around this price formed now so we are in a place of some significance to mull over.

The price can't continue to sustain this increase forever without a bit of correction and drop. There are way too many people who have bought between early march and late may, those people are all in profit right now, even people up to late June and most of July are in profit right now, that means some people will eventually say this much profit is enough and they will sell their coins to realize that profit.

Obviously this won't be everyone, but the ones that does it could cause some sort of correction, with one big seller it will have a snowball type of trigger where it will lead to a lot more people to sell. However, I believe (and hope) that the correction will be a small one and it will eventually lead to some sort of recovery after the correction to even a higher level than what we are today.

https://imgbb.online/images/2020/07/31/IMG_20200731_223031_136.jpg

My plan to long after the breakout of the Mid Line resulted in +12.1% of profit with x10 leverage. However the Main Resistance was not retested. Currently will wait for the price to interact with any key level we have (resistance - support - mid line) in order to take any action. Better to work with a bullish priority.

The main resistance now seems to be $11.8k as we have breach it already but can't sustain it obviously. The good thing is that the price doesn't decline that much and its simply staying in the $11.5-$11.7 range. But still this is bullish sign, and buying when the price goes down a bit and shorting it could be a good strategy.

You spoke too soon, barrier now has collapse, the price goes above $12000 again. Now it's a wait and see game as we have reached a milestone. And imagine that this is just Tuesday of the current week, plenty of wiggle room to push ever further for this week.

Of course, the break out from $9000 was the key, as pointed out by several forums analyst making bitcoin and the rest of the crypto to be very very bullish No need to short as you will be really get REKT by the current movement.

The minor resistance was been broken, look at the price of the BTC where it is now above $12,000. Look also in the RSI where it is now above the overbought signal which is at 70 where it indicates that there is a momentum. What I do not like only is the volume where the volume today is much lesser than yesterday where for me it is not good. A good breakout should have huge or spike volume but it is still beginning of the day so we should watch the price action if it is legit breakout or it is just a fake out.

If the breakout is legit then we should expect that there will be new resistance that will formed at exactly $12,300, it is just a minor support so I expect that the bitcoin can easily break it but for sure there will be a consolidation that will happen that will take days or even weeks.

It didn't hold ground, as it falters and decline to the support levels at $11,700. Which means this is just a fake out run or it's that we are in the overbought zone so obviously the selling pressure is there. Although it is interesting to see that over $12 million BTC shorts have been liquidated that time on Bitmex alone. So maybe there's someone playing the market again.

We don't have some strong corrections, although price is fluctuating all the time. In one moment it even crossed 12000$ not again pulled back below. This is still not pure bullish situation and to my opinion this will continue for a while, at this moment I wouldn't say Bitcoin is in bullish phase.

I dont much like this price action at present, its not exploring the range as I would expect it to.    If price is constricted are we building upto something, a breakout perhaps.   Iam more bearish then that and I expect a sell but I've often been too sceptical in the past.   The exception I'll always make is if I see a bullish trend but I dont see that in play now so I assume its quite possible we recheck lower prices first and this is not the queue for a higher price just yet.

https://imgbb.online/images/2020/08/11/IMG_20200811_065803_783.jpg

$BTC Update

BTC reformed an Ascending Triangle a little bit, now 12k$ Resistance Zone is being tested. Fixation above will be a confirmation for the pattern, and at this point we continue going upward.

Obviously the minor support levels wouldn't be able to hold out for too long, they would basically be destroyed by any whale that wants to destroy it by themselves, however if we could go up and the price stabilizes there the support would be able to grow bigger and make it harder to drop as well. This doesn't mean it can't be broken, as we all know bitcoin could be $20k or $5k tomorrow, it has that power and the whales can manipulate it that way, however we are not talking about the capabilities of bitcoin but more about what it looks like in the market right now.

So, what it looks like is that we need a stabilization at a higher level before we can say that we are safe, without any stabilization it looks like it could go up but the drop could be there very swiftly as well without a proper support level.

The market is at an unpredictable state, because at times there is good growth with bitcoin and at times the same is happening with ethereum. The mutual growth between the two has begun today, and this could lead the price of bitcoin reach $12000 and ethereum to $500 at the same time period. The market hasn't turned to be bearish, maybe over the weeks we can expect price corrections and this time it'll happen only with bitcoin and not with ethereum.

Everything depending with how the buyers and sellers are moving along the market, it reflects right
away with the conditions of the industry.


Bitcoin carries most of the alts, once bitcoin start to  rise, diversions will take place and top alts are
receiving the money from the traders.
Both coins are gaining recognitions from most of the traders so expect more incoming pumps from
this two valuable projects.


No. Based from the current market ETH is down by 4% now it's also having some corrections not just BTC.