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Economy => Speculation => Topic started by: F_Societys on October 04, 2020, 10:26:02 AM



Title: What will happen next if the resistance breaks?
Post by: F_Societys on October 04, 2020, 10:26:02 AM
Hello to all friends
Rsi has a negative divergence in 4H timeframe, and considering that it could not break the resistance of 10620, I think we will have a correction to the range of 10300, but if 10620 is broken, the next position is 10750, which is a strong resistance range.
This is my analysis.

And the next analysis:

Due to the negative conditions and news these days, Bitcoin has maintained itself and has not fallen seriously and has even grown a bit.

This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.



Title: Re: What will happen next if the resistance breaks?
Post by: jackg on October 04, 2020, 10:37:33 AM
Yeah I can see a move to (below)10750 on the 4 hour timeframe (if we don't end up just breaking down here which might be likely)...

And yeah 11500 is a reasonable step up from here, but the step-down from here would be the ~9800 regions again...

Sidenote: when did we start measuring moves by half of the levels they've reached before? I'm trying to work out why that's looking to work with analysis.


Title: Re: What will happen next if the resistance breaks?
Post by: YuginKadoya on October 04, 2020, 11:06:25 AM
In my opinion, it is OK for a correction right now because when there is a correction there is always a momentum for the price to sprung back up again and even breaks the next resistance, That is what bitcoin is trying to do in its recent movements, I guess you are right the whales is really just waiting patiently for the right opportunity to make a move again, I think it is OK for Bitcoin price to have a break once in a while to regain its momentum back up again.


Title: Re: What will happen next if the resistance breaks?
Post by: GreatArkansas on October 04, 2020, 09:49:09 PM
https://i.imgur.com/fTv9IRk.png
Here is my simple chart for this.
I have strong feeling that strong resistance for short time is around $10, 700 - $10,900. Which is kinda close with yours.
And a minor support around $10,000 - $10,200. Since last week, I am watching closely this support since when we use daily time frame, we still haven't able to make a daily close below $10,000 for almost 2 months now. That's why I clearly see a $10, 000 is strong support here.
A breakout on this resistance, I am hapily to see a easily $12, 000 within few weeks.


Title: Re: What will happen next if the resistance breaks?
Post by: exstasie on October 04, 2020, 11:36:39 PM
Hello to all friends
Rsi has a negative divergence in 4H timeframe, and considering that it could not break the resistance of 10620, I think we will have a correction to the range of 10300, but if 10620 is broken, the next position is 10750, which is a strong resistance range.
This is my analysis.

Screenshot your charts and share them here. That would make it a whole lot easier to understand your analysis.

This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.

Possible. That's one way we could complete the orange scenario in this triangle: https://bitcointalk.org/index.php?topic=5196072.msg55282472#msg55282472

A double zig zag to the $6,000s or $7,000s.....


Title: Re: What will happen next if the resistance breaks?
Post by: Johnyz on October 04, 2020, 11:57:36 PM
We’re on the sideways trend playing between the support and resistance and of course if we break the resistance and there’s a strong volume we will climb up and will create another support level, the next trend is crucial after this. Bitcoin moves slowly in the past days, whales are just waiting for the market signal and if the market hit their target, expect them to move big again.


Title: Re: What will happen next if the resistance breaks?
Post by: carlisle1 on October 05, 2020, 03:48:23 AM
We’re on the sideways trend playing between the support and resistance and of course if we break the resistance and there’s a strong volume we will climb up and will create another support level, the next trend is crucial after this. Bitcoin moves slowly in the past days, whales are just waiting for the market signal and if the market hit their target, expect them to move big again.
Whales are always in the safe position,they are only watching above and when the right time comes they will grab the opportunities and bag another set of money.

we are now nearing $10,750 like what OP says because the price now is near $10,700

https://coinmarketcap.com/

maybe in a matter of days we will cross $11,000 again.


Title: Re: What will happen next if the resistance breaks?
Post by: pooya87 on October 05, 2020, 04:49:46 AM
the only resistance that matters in my opinion is the one at $11k. everything else below that and above $10k is going to be normal daily fluctuations. when the $11k breaks then the market can take a direction (similarly if $10k support breaks it will be a downward direction).
meanwhile whales are accumulating!

This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.
right now it is $10660 and it did also reach $10750 which is my point about $11k being the real resistance otherwise reaching these prices doesn't really mean much since it could again go back down to $10400 then back up again (rinse and repeat). and this does actually mean bitcoin is stable right now.
as for the news, i haven't see any bad news that affects bitcoin itself. it has affected some weak hands that sold but since they sold recently there aren't that many weak hands left to panic sell which is why we didn't see any drops.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 05, 2020, 08:37:44 AM
In my opinion, it is OK for a correction right now because when there is a correction there is always a momentum for the price to sprung back up again and even breaks the next resistance, That is what bitcoin is trying to do in its recent movements, I guess you are right the whales is really just waiting patiently for the right opportunity to make a move again, I think it is OK for Bitcoin price to have a break once in a while to regain its momentum back up again.

Of course, a price break does not always lead to an increase.
Rather, after the resistance is broken, we have to wait for a new move (rise or fall) and this action is possible only if the demand increases.

Here is my simple chart for this.
I have strong feeling that strong resistance for short time is around $10, 700 - $10,900. Which is kinda close with yours.
And a minor support around $10,000 - $10,200. Since last week, I am watching closely this support since when we use daily time frame, we still haven't able to make a daily close below $10,000 for almost 2 months now. That's why I clearly see a $10, 000 is strong support here.
A breakout on this resistance, I am hapily to see a easily $12, 000 within few weeks.


Thanks for drawing the chart and also this resistance is not going to be long and finally the prices should jump or fall during these few weeks.

And as I said, the conditions are right for a price increase, and the expectation of the 12,000 channel is not far off.


Title: Re: What will happen next if the resistance breaks?
Post by: davis196 on October 05, 2020, 12:30:32 PM
When the resistance breaks,the price will go down,which might cause some whales and bulls to wake up and start buying,which means that the price might go up again,if the buying pressure is strong enough.
Anyway,the resistance might not break until Christmas or maybe January 2021.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 05, 2020, 02:22:44 PM

Screenshot your charts and share them here. That would make it a whole lot easier to understand your analysis.

Possible. That's one way we could complete the orange scenario in this triangle: https://bitcointalk.org/index.php?topic=5196072.msg55282472#msg55282472

A double zig zag to the $6,000s or $7,000s.....

I try to draw diagrams, but I leave analyzes that I do not think need diagrams or have a simple understanding without diagrams to challenge the reader's mind.
I have to say about 6000 or 7000 that it is a bit pessimistic and we should expect higher prices for zigzagging.

We’re on the sideways trend playing between the support and resistance and of course if we break the resistance and there’s a strong volume we will climb up and will create another support level, the next trend is crucial after this. Bitcoin moves slowly in the past days, whales are just waiting for the market signal and if the market hit their target, expect them to move big again.

Yes, what is expected is to break the current resistance and form a resistance in the higher range.
And I have to say about whales that they will not make emotional decisions like newcomers, and they will make strange moves when the market is in their favor.


Title: Re: What will happen next if the resistance breaks?
Post by: Reid on October 05, 2020, 02:35:12 PM
I am also considering expectations.
CoranaVirus.
This illness could be making a positive effect on the market.
Not that it's a good thing but most whales could be expecting other investors to switch anytime now.
I don't know, it may sound crazy but that is how my mind works for now.
IMHO, resistance is there because of that and it won't go so low in near future.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 05, 2020, 06:13:50 PM
I am also considering expectations.
CoranaVirus.
This illness could be making a positive effect on the market.
Not that it's a good thing but most whales could be expecting other investors to switch anytime now.
I don't know, it may sound crazy but that is how my mind works for now.
IMHO, resistance is there because of that and it won't go so low in near future.


On the other hand, Corona virus has increased the purchase of bitcoins and increased the safe deposit box of the people, which increases the price.
Also, in a situation where we are all at home, there are people who are familiar with bitcoin and this opportunity can be used in favor of bitcoin.


Title: Re: What will happen next if the resistance breaks?
Post by: STT on October 05, 2020, 10:02:39 PM
Quote
the news of the Corona virus came, bitcoin did not fall at once
BTC fell out of a positive trend before March, it didnt have to fall like that but it was ready to pull back I guess.   We've had bad flu strains before, this one was different but there was no real common perception or fear till late Feb I guess then it moved all markets.
   11,000 is the level I was just looking at to start proving we have moved past a negative scenario in price action.   Till we really establish a price like that as the low then I presume we drift and remain negative medium term, right now its drifting up but I dont count this especially as any action.


Title: Re: What will happen next if the resistance breaks?
Post by: btc_angela on October 05, 2020, 10:47:20 PM
Hello to all friends
Rsi has a negative divergence in 4H timeframe, and considering that it could not break the resistance of 10620, I think we will have a correction to the range of 10300, but if 10620 is broken, the next position is 10750, which is a strong resistance range.

We have broken the $10600 resistance, currently well above $10750.


This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.

Well bitcoin will not be stable technically, perhaps what we are seeing in a relatively calmness in the market, maybe some are into this Defi hype, but if it will burst, investors are going to shift to bitcoin again and maybe we cane and the year in the $11k-$12k range. Corona virus has no impact already, we already pass it, and that's another reason why we are stable.


Title: Re: What will happen next if the resistance breaks?
Post by: Viscore on October 05, 2020, 11:14:13 PM
10,700 is a short stay for sure. I don't feel such resistance instead of having the support to start. The Defi surge is almost done and I'd expect more increase 10,800-10,900, but can't be straight to break for 11,000. The market will remain unstable, yet the support system isn't enough to make a huge push. No clue for the hypes when it comes. However, the market is still healthy, we are not in the bullish season and we are not also in the bear season. The last hope, for now, is to keep the trend above 10,000 until the year ended.


Title: Re: What will happen next if the resistance breaks?
Post by: tabas on October 05, 2020, 11:44:10 PM
On the other hand, Corona virus has increased the purchase of bitcoins and increased the safe deposit box of the people, which increases the price.
It made people bought bitcoin. Those people who have received stimulus but I don't think that they are that much compare to the needs that they need to spend by that incentive or aide.
Also, in a situation where we are all at home, there are people who are familiar with bitcoin and this opportunity can be used in favor of bitcoin.
This pushed not bitcoin people to research about bitcoin and give themselves the benefit to study about it. And now, probably a portion of those people have been encouraged not by anyone but by themselves to buy.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 06, 2020, 05:42:50 AM
the only resistance that matters in my opinion is the one at $11k. everything else below that and above $10k is going to be normal daily fluctuations. when the $11k breaks then the market can take a direction (similarly if $10k support breaks it will be a downward direction).
meanwhile whales are accumulating!
right now it is $10660 and it did also reach $10750 which is my point about $11k being the real resistance otherwise reaching these prices doesn't really mean much since it could again go back down to $10400 then back up again (rinse and repeat). and this does actually mean bitcoin is stable right now.
as for the news, i haven't see any bad news that affects bitcoin itself. it has affected some weak hands that sold but since they sold recently there aren't that many weak hands left to panic sell which is why we didn't see any drops.

The important thing is that the current resistance is breaking and in the next few days we may see the entry of channel 11000.
Also, 11,000 is not a safe area for bitcoin, and we may see it fall back to the 10,000 channel. And then we have to wait for a new resistance that will occur in the channels above 10,000.

When the resistance breaks,the price will go down,which might cause some whales and bulls to wake up and start buying,which means that the price might go up again,if the buying pressure is strong enough.
Anyway,the resistance might not break until Christmas or maybe January 2021.


Maybe the downfall is the idea of whales wanting to raise liquidity from the market and take advantage of it when cows sell at a low price.
Also, the resistance of 10,000 has reached almost stability and we can hope for higher prices.


Title: Re: What will happen next if the resistance breaks?
Post by: el kaka22 on October 06, 2020, 06:18:18 AM
10K is not only a resistance in the market but it is a resistance in the psychological levels as well, people do not think that bitcoin worths under 10k and that is a very good reason why it continues to go above 10k all the time, but people do not even think it worths over 10k as well so whenever prices change we just end up with the same thing, bitcoin going down and up between 10k and that is how it is for the most of last three years, it reaches as low as 3.8k and still goes over 10k and it reaches at as high as 14.8k and still goes under 10k, it is always doing that.

This means the resistance at 10k doesn't really shock me, it is something we have always lived with, people do not want it go under 10k and there are tons of people who want it down as well which will be a fight.


Title: Re: What will happen next if the resistance breaks?
Post by: exstasie on October 06, 2020, 08:33:16 AM
Screenshot your charts and share them here. That would make it a whole lot easier to understand your analysis.

Possible. That's one way we could complete the orange scenario in this triangle: https://bitcointalk.org/index.php?topic=5196072.msg55282472#msg55282472

A double zig zag to the $6,000s or $7,000s.....

I try to draw diagrams, but I leave analyzes that I do not think need diagrams or have a simple understanding without diagrams to challenge the reader's mind.
I have to say about 6000 or 7000 that it is a bit pessimistic and we should expect higher prices for zigzagging.

I wouldn't call it pessimistic, just a good buying opportunity. After a bull run like we saw in March-August, I would consider a 61.8% retracement (the $7,100s) to be very typical. Doesn't mean it's guaranteed, but it's something worth being prepared for.

Holding in the $9,000+ range is equally plausible. It's just too early to say.


Title: Re: What will happen next if the resistance breaks?
Post by: carter34 on October 06, 2020, 10:22:54 AM

do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.


I think on the other side, bitcoin has shown a very strong resistance not to fall since corona virus. Yes, unlike people believed it was going to drop because people weren't allowed to go out for work but that became an advantage for bitcoin. At the moment, the price is not in bad shape as it is still above $10,000.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 06, 2020, 03:19:08 PM
Quote
the news of the Corona virus came, bitcoin did not fall at once
BTC fell out of a positive trend before March, it didnt have to fall like that but it was ready to pull back I guess.   We've had bad flu strains before, this one was different but there was no real common perception or fear till late Feb I guess then it moved all markets.
   11,000 is the level I was just looking at to start proving we have moved past a negative scenario in price action.   Till we really establish a price like that as the low then I presume we drift and remain negative medium term, right now its drifting up but I dont count this especially as any action.

With the arrival of Corona, everything was affected.
And bitcoin was affected by this global atmosphere, albeit with a slight delay, which I think was due to the whales' support for the 12,000 resistance.
Expectations have also risen to 11,000 and above, although the current channel can be seen to be stable. There has been a 0.068% drop in prices over the past 24 hours.


Well bitcoin will not be stable technically, perhaps what we are seeing in a relatively calmness in the market, maybe some are into this Defi hype, but if it will burst, investors are going to shift to bitcoin again and maybe we cane and the year in the $11k-$12k range. Corona virus has no impact already, we already pass it, and that's another reason why we are stable.

The meaning of relative resistance stability is in a fixed range and we can never say that bitcoin will remain in the 12000 channel this year !!

I also agree with you that in case of failure more buyers will come to Bitcoin and this will be a good reason to increase it.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 06, 2020, 03:27:24 PM
10,700 is a short stay for sure. I don't feel such resistance instead of having the support to start. The Defi surge is almost done and I'd expect more increase 10,800-10,900, but can't be straight to break for 11,000. The market will remain unstable, yet the support system isn't enough to make a huge push. No clue for the hypes when it comes. However, the market is still healthy, we are not in the bullish season and we are not also in the bear season. The last hope, for now, is to keep the trend above 10,000 until the year ended.

As you said, we saw that 10,700 were broken in a few hours and it can be said that the resistance has not been fully formed yet.
Also, the season of bitcoin ups and downs is not clear and it can be said that it may reach 10,800 or 11,000 by the end of the year.




This pushed not bitcoin people to research about bitcoin and give themselves the benefit to study about it. And now, probably a portion of those people have been encouraged not by anyone but by themselves to buy.


Bitcoin has shown itself to have enough time and also in a situation where most people are unemployed and looking for a way to earn money.

I also think that bitcoin advertising has increased so much that when we open Instagram, it started with at least 2 posts about bitcoin.


Title: Re: What will happen next if the resistance breaks?
Post by: beerlover on October 06, 2020, 07:06:26 PM
I am not sure if people assume 20k is that easy, I fear that people already know that we are not going to be too low anymore which is great but the fear is the fact that many will think it is going to be hard to get to 20k again. Sure there are tons of people who start topics like "bitcoin going to 100k!!" or so whenever we increase, if this month we become 13-14k you will see that not only 20k but there will be topics for 200-400 even 1 million per bitcoin topics, that type of hyperbole unfortunately happens anytime it goes up or down.

However the real investors, people with money knows that it is not going to be really that high anymore, it is going to be probably 14-16 range any time soon and thats it, I am not seeing anything bigger than that from bitcoin.


Title: Re: What will happen next if the resistance breaks?
Post by: tabas on October 06, 2020, 10:44:41 PM
This pushed not bitcoin people to research about bitcoin and give themselves the benefit to study about it. And now, probably a portion of those people have been encouraged not by anyone but by themselves to buy.


Bitcoin has shown itself to have enough time and also in a situation where most people are unemployed and looking for a way to earn money.

I also think that bitcoin advertising has increased so much that when we open Instagram, it started with at least 2 posts about bitcoin.
It's where the misconception starts. Because of unemployment, they think that bitcoin is a savior to them and it will employ them or will make them money during their unemployment. But it's not the actual thing that happens, it wouldn't just count and give them profit that quick.
Especially the new, that's their mindset and they've seen others make money and so do they think the same and it will be easy for them.


Title: Re: What will happen next if the resistance breaks?
Post by: Ridwan Fauzi on October 07, 2020, 03:22:42 AM
On the lower time frame, bitcoin price movements still respect to the trend line that forms a symmetrical triangle, which is I'll expect the price will go up again retest the $10.900 barrier. But when its price breakdown the trend line it could fall to $9800 and I'll be expecting the tweezer bottom will be formed by this monthly candlestick. I just thinking that the crypto's whale is preferable not to buy bitcoin, as we can see in the past few weeks the volume for bitcoin price is very small compared to the previous weeks.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 07, 2020, 05:43:58 AM
10K is not only a resistance in the market but it is a resistance in the psychological levels as well, people do not think that bitcoin worths under 10k and that is a very good reason why it continues to go above 10k all the time, but people do not even think it worths over 10k as well so whenever prices change we just end up with the same thing, bitcoin going down and up between 10k and that is how it is for the most of last three years, it reaches as low as 3.8k and still goes over 10k and it reaches at as high as 14.8k and still goes under 10k, it is always doing that.

This means the resistance at 10k doesn't really shock me, it is something we have always lived with, people do not want it go under 10k and there are tons of people who want it down as well which will be a fight.


People expect higher prices from bitcoin and 10,000 resistance is the minimum price they accept, so the real price of bitcoin is not 10,000 and it deserves higher prices.
Also about the war with bitcoin, it should be said that many governments are against the presence of bitcoin, because they see the value of their national currency declining, and this is a sign of the power of bitcoin.



I wouldn't call it pessimistic, just a good buying opportunity. After a bull run like we saw in March-August, I would consider a 61.8% retracement (the $7,100s) to be very typical. Doesn't mean it's guaranteed, but it's something worth being prepared for.

Holding in the $9,000+ range is equally plausible. It's just too early to say.

Maybe it also makes sense that, as you said, we will see a drop in prices after a few weeks of resistance in the range of 10,000 and reach lower levels.
Also, as you said, we were all waiting for the price to rise in August, when the fall suddenly started.
And in general, I have to say that we have to expect everything. Sometimes bitcoins and (whales) stir the market with falling or rising prices.


Title: Re: What will happen next if the resistance breaks?
Post by: carlisle1 on October 07, 2020, 07:21:11 AM
10,700 is a short stay for sure. I don't feel such resistance instead of having the support to start. The Defi surge is almost done and I'd expect more increase 10,800-10,900, but can't be straight to break for 11,000. The market will remain unstable, yet the support system isn't enough to make a huge push. No clue for the hypes when it comes. However, the market is still healthy, we are not in the bullish season and we are not also in the bear season. The last hope, for now, is to keep the trend above 10,000 until the year ended.
what you expect seems nothing to happen mate because we cannot even reach $10,900 again instead continue falling again.
It looks like we will get what we want in the latter part of this 4th quarter .

i can't do anything now because i am waiting for at least below 9k before purchasing again or 15k to sell of.



Title: Re: What will happen next if the resistance breaks?
Post by: gabbie2010 on October 07, 2020, 04:00:05 PM
We’re on the sideways trend playing between the support and resistance and of course if we break the resistance and there’s a strong volume we will climb up and will create another support level, the next trend is crucial after this. Bitcoin moves slowly in the past days, whales are just waiting for the market signal and if the market hit their target, expect them to move big again.
Yes the price had been respecting a horizontal channel which act as resistance at $11K and support at $10K with reference to daily timeframe its very obvious that the support at $10k was strong such that the price couldn't break that zone downward an indication that the bulls are still in control of the market, while the price stays above $10K, once the price breaks out of the resistance of the channel and pullback or retrace to the resistance turned support its is sure passage to the next resistance at $12K this is from my own technical analysis point of view.


Title: Re: What will happen next if the resistance breaks?
Post by: SquallLeonhart on October 07, 2020, 04:58:33 PM
Considering we are going above $10.5k constantly and the price is trying to break those $10.8k levels in order to reach $11k, doesn't it look like it is going to happen soon? Over $11k is not something we would have hard time doing if you ask me, it all takes some buyers and a bull hype and if we get that, just a tiny bit the people who call out 100k or even 1 million will come back and that will create even a bigger hype where tons of people will invest fearing they will miss out.

Going above $11k also indicates that going above $12k is easier as well, usually when bitcoin price goes up it goes up all together very high, not just tiny bit. So, we just need one bull run for that to happen, if we have one bull run to break the next resistance we are breaking few after that too.


Title: Re: What will happen next if the resistance breaks?
Post by: target on October 07, 2020, 05:41:58 PM


It looks like the price is going to stay this range for some time. We've seen many times that BTC pumps hard that it breaks resistance almost in just a day and  it might just be the case to break the $12k. It think its still the case that when BTC price goes up, every thing else goes up too. We just even look at the chart of BTC to summarize the crypto market.

When there are so much demands, traders sells a lot because and it will test the support level just as the bid orders tests resistances. Breaking out means another selling price to break.


Title: Re: What will happen next if the resistance breaks?
Post by: lifeOK on October 07, 2020, 05:47:12 PM
I had no idea what to happen next but the time is not right. Everybody says Bitcoin closely following the event of US election, whatsoever between $10k -$11k range it's ups and down. If the resistance falling we're likely going below $9.5k. There is so much uncertainty at the moment in all markets. We're heading into 2021 and anything could happen. Just my opinion...


Title: Re: What will happen next if the resistance breaks?
Post by: ScamViruS on October 07, 2020, 06:31:05 PM
I had no idea what to happen next but the time is not right. Everybody says Bitcoin closely following the event of US election, whatsoever between $10k -$11k range it's ups and down. If the resistance falling we're likely going below $9.5k. There is so much uncertainty at the moment in all markets. We're heading into 2021 and anything could happen. Just my opinion...


I prefer to wait at the moment. Because now that the market is in place, this is an important time, no one wants the market to be dumped from here. Now, like the traditional market, the Bitcoin market is also affected by the news and the world economy.

So being careful in advance is not a bad thing. $10k is not a big resistance, the market is at this level only traders are confident that it will not go down again. I will only assume that there has been a big breakout when the price of Bitcoin will be above $11k.


Title: Re: What will happen next if the resistance breaks?
Post by: dunfida on October 07, 2020, 07:50:38 PM
I am not sure if people assume 20k is that easy, I fear that people already know that we are not going to be too low anymore which is great but the fear is the fact that many will think it is going to be hard to get to 20k again. Sure there are tons of people who start topics like "bitcoin going to 100k!!" or so whenever we increase, if this month we become 13-14k you will see that not only 20k but there will be topics for 200-400 even 1 million per bitcoin topics, that type of hyperbole unfortunately happens anytime it goes up or down.

However the real investors, people with money knows that it is not going to be really that high anymore, it is going to be probably 14-16 range any time soon and thats it, I am not seeing anything bigger than that from bitcoin.
In a market like this then we cant really avoid to see those permabulls on giving out those very high price speculation and imagine on saying out $1M per coin
is totally unrealistic or unbelievable if we do just base on the current movement that we are taking then we can definitely say that even reaching out ATH
would already be a hard and would really take up for some time but who knows if we would reach up it soon but that would be a definite time.
It all matters with the demand and if we do see the similar situation in last quarter of 2017 then we might shoot up but i dont see that we would go past
into those 6 digit unrealistic numbers.Breaking resistances and supports is always been part of this speculative market.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 08, 2020, 06:34:00 AM

do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.


I think on the other side, bitcoin has shown a very strong resistance not to fall since corona virus. Yes, unlike people believed it was going to drop because people weren't allowed to go out for work but that became an advantage for bitcoin. At the moment, the price is not in bad shape as it is still above $10,000.

The current price and resistance is amazing considering the Corona virus.
This resistance is well supported and it can be seen that people have resorted to bitcoin in addition to securing capital.

I am not sure if people assume 20k is that easy, I fear that people already know that we are not going to be too low anymore which is great but the fear is the fact that many will think it is going to be hard to get to 20k again. Sure there are tons of people who start topics like "bitcoin going to 100k!!" or so whenever we increase, if this month we become 13-14k you will see that not only 20k but there will be topics for 200-400 even 1 million per bitcoin topics, that type of hyperbole unfortunately happens anytime it goes up or down.

However the real investors, people with money knows that it is not going to be really that high anymore, it is going to be probably 14-16 range any time soon and thats it, I am not seeing anything bigger than that from bitcoin.

If people are waiting for the price of 20,000, I do not think we will see this price in the next 2 years.
Regarding the long-term analysis of Bitcoin, it must be said that it is a very difficult task, and those who talk about prices of 100,000 or more, their only logic is based on imagination.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 08, 2020, 06:49:12 AM

It's where the misconception starts. Because of unemployment, they think that bitcoin is a savior to them and it will employ them or will make them money during their unemployment. But it's not the actual thing that happens, it wouldn't just count and give them profit that quick.
Especially the new, that's their mindset and they've seen others make money and so do they think the same and it will be easy for them.

They make some money this way and think they are always going to make a profit this way.
And we know that bitcoin is not always profitable and always comes with the sweet days of the bitter days.

On the lower time frame, bitcoin price movements still respect to the trend line that forms a symmetrical triangle, which is I'll expect the price will go up again retest the $10.900 barrier. But when its price breakdown the trend line it could fall to $9800 and I'll be expecting the tweezer bottom will be formed by this monthly candlestick. I just thinking that the crypto's whale is preferable not to buy bitcoin, as we can see in the past few weeks the volume for bitcoin price is very small compared to the previous weeks.

If the current triangle is formed, it will most likely have to wait for the price to rise to $ 11,000. Also, whales do not fully control the market. Rather, most of Bitcoin is in the hands of ordinary people and investors, and you can watch the rise of Bitcoin without making wrong and emotional decisions.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 08, 2020, 06:57:48 AM
Considering we are going above $10.5k constantly and the price is trying to break those $10.8k levels in order to reach $11k, doesn't it look like it is going to happen soon? Over $11k is not something we would have hard time doing if you ask me, it all takes some buyers and a bull hype and if we get that, just a tiny bit the people who call out 100k or even 1 million will come back and that will create even a bigger hype where tons of people will invest fearing they will miss out.

Going above $11k also indicates that going above $12k is easier as well, usually when bitcoin price goes up it goes up all together very high, not just tiny bit. So, we just need one bull run for that to happen, if we have one bull run to break the next resistance we are breaking few after that too.

The 10,600 resistance has stabilized and is likely to rise to 10,800 and then to 11,000.
Breaking this resistance is not so far-fetched and can be hoped for.
Interestingly, when I talk to my friends about the price of 12,000, they say it is unexpected and impossible.
But a few months ago we were in the 12,000 resistance and we saw those days.
And I think we will go back to those days.



It looks like the price is going to stay this range for some time. We've seen many times that BTC pumps hard that it breaks resistance almost in just a day and  it might just be the case to break the $12k. It think its still the case that when BTC price goes up, every thing else goes up too. We just even look at the chart of BTC to summarize the crypto market.

When there are so much demands, traders sells a lot because and it will test the support level just as the bid orders tests resistances. Breaking out means another selling price to break.

If we look at the increase in public demand, we see that the price of Bitcoin will increase with it.
And the current price is a period of latency. Bitcoin is preparing for higher prices and we will see this in a few weeks.
Also in this case, I think the corona virus is more for the buyer than the seller for sale.


Title: Re: What will happen next if the resistance breaks?
Post by: n0ne on October 08, 2020, 09:56:51 AM
The resistance level break has the chance of a downward movement than the forward push. There is minor fluctuations in the market volume at specific time interval. Right now there is big variation in the market of altcoins, almost every altcoin have declined on its value. As of now every move happening with bitcoin seems to be associated with the election campaigning happening activities of USA.


Title: Re: What will happen next if the resistance breaks?
Post by: goaldigger on October 08, 2020, 11:14:19 AM

It's where the misconception starts. Because of unemployment, they think that bitcoin is a savior to them and it will employ them or will make them money during their unemployment. But it's not the actual thing that happens, it wouldn't just count and give them profit that quick.
Especially the new, that's their mindset and they've seen others make money and so do they think the same and it will be easy for them.

They make some money this way and think they are always going to make a profit this way.
And we know that bitcoin is not always profitable and always comes with the sweet days of the bitter days.

Those who think bitcoin is an easy money don't have the right knowledge about how investment works and how this cryptocurrency works. There's a strong wall on the resistance level and that is why we are still down, however the future of bitcoin is still bright because of the adoption happening on most of the country. The trend will not always in favor to us, there are times that our patience will be tested so if you have a weak emotion, you'll lose in this market.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on October 08, 2020, 11:26:55 AM
what you expect seems nothing to happen mate because we cannot even reach $10,900 again instead continue falling again.
It looks like we will get what we want in the latter part of this 4th quarter .

i can't do anything now because i am waiting for at least below 9k before purchasing again or 15k to sell of.

I agree with everything except the reasoning about the level of 10,900 (I consider fluctuations in +/- 500 dollars insignificant). I sold bitcoin at 12300 and I see that now the situation looks more like a slow fall, so I'm waiting for more pleasant levels in order to make a buyback.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 08, 2020, 11:36:52 AM
I had no idea what to happen next but the time is not right. Everybody says Bitcoin closely following the event of US election, whatsoever between $10k -$11k range it's ups and down. If the resistance falling we're likely going below $9.5k. There is so much uncertainty at the moment in all markets. We're heading into 2021 and anything could happen. Just my opinion...


It can be said that the election will definitely affect bitcoin and, as in previous years, it has affected the market and the stock market.
In general, Bitcoin is not independent of world events, and we saw what happened in response to the Corona virus.

The resistance level break has the chance of a downward movement than the forward push. There is minor fluctuations in the market volume at specific time interval. Right now there is big variation in the market of altcoins, almost every altcoin have declined on its value. As of now every move happening with bitcoin seems to be associated with the election campaigning happening activities of USA.

The current resistance will be in the range of 10,800 to 11,000.
Market volatility is also declining, indicating a stabilization of resistance.
And if bitcoin is on the rise, altcoins will definitely be affected by the king.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 08, 2020, 11:40:53 AM

Those who think bitcoin is an easy money don't have the right knowledge about how investment works and how this cryptocurrency works. There's a strong wall on the resistance level and that is why we are still down, however the future of bitcoin is still bright because of the adoption happening on most of the country. The trend will not always in favor to us, there are times that our patience will be tested so if you have a weak emotion, you'll lose in this market.

These people do not know enough about Bitcoin and this will cause them to fail.
I can also say about the future of Bitcoin that governments are more against it !!

Because they see the value of their national currency declining.
And the only countries that I think agree with Bitcoin are developed countries like China and Japan. :)



Title: Re: What will happen next if the resistance breaks?
Post by: CryptopreneurBrainboss on October 08, 2020, 03:35:41 PM
The resistance level break has the chance of a downward movement than the forward push. There is minor fluctuations in the market volume at specific time interval. Right now there is big variation in the market of altcoins, almost every altcoin have declined on its value.

But don't you think the downtrend of altcoins was just uncalled for and they were oversold, looking at a chart I saw coins declining as much at -99% to -70% just within 1/2weeks. The DeFi projects were one of the most affected sections of alt which got me wondering what the recover story of the market will be when that time comes, whether the DeFi coins will get less attention or they'll be top recoverers.

The bitcoin price movement is getting tiresome to watch as the up and down movement continues. Currently it's trading at around $10,800 with a resistance still been at $11,000 which would be very difficult for bitcoin to break also few altcoins are also pumping which is a positive signs of the altcoin won't be left out when the bull market returns.

Because they see the value of their national currency declining.
And the only countries that I think agree with Bitcoin are developed countries like China and Japan. :)

They know the valve of the currency, they are just trying to play the first mover advantage. Deep down they're only trying to overthrown the US by dominating what they believe will be the next world currency.


Title: Re: What will happen next if the resistance breaks?
Post by: palle11 on October 08, 2020, 04:36:10 PM
On the lower time frame, bitcoin price movements still respect to the trend line that forms a symmetrical triangle, which is I'll expect the price will go up again retest the $10.900 barrier. But when its price breakdown the trend line it could fall to $9800 and I'll be expecting the tweezer bottom will be formed by this monthly candlestick. I just thinking that the crypto's whale is preferable not to buy bitcoin, as we can see in the past few weeks the volume for bitcoin price is very small compared to the previous weeks.

I think you have speculated rightly. The $10,900 has barrier has been retested and almost broken. I believe if it closes above that on a daily chart maybe it could be a change of trend for nest day day. The market has been bull for today and if continued, volatility might have been established.


Title: Re: What will happen next if the resistance breaks?
Post by: Oceat on October 08, 2020, 06:53:22 PM
As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on October 08, 2020, 08:20:38 PM
what you expect seems nothing to happen mate because we cannot even reach $10,900 again instead continue falling again.
It looks like we will get what we want in the latter part of this 4th quarter .

i can't do anything now because i am waiting for at least below 9k before purchasing again or 15k to sell of.

I agree with everything except the reasoning about the level of 10,900 (I consider fluctuations in +/- 500 dollars insignificant). I sold bitcoin at 12300 and I see that now the situation looks more like a slow fall, so I'm waiting for more pleasant levels in order to make a buyback.

Funnily enough, the price almost reached the discussed level after I wrote this post  :D
But nothing has fundamentally changed, this is not the beginning of a new bullish trend, but the usual volatility, so those who want to buy bitcoin should wait for more interesting levels.


Title: Re: What will happen next if the resistance breaks?
Post by: STT on October 08, 2020, 11:48:21 PM
More important then the talk or reference to the virus would be monetary policy and they have massively expanded Dollar easy money policy this year, if not for that BTC might have suffered far more or at least recovered in a long time period then its taken.

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

Iam just looking at whether its past resistance or not, its looking close to past negativity but I think it takes multiple confirmations to really kick in.


Title: Re: What will happen next if the resistance breaks?
Post by: justdimin on October 09, 2020, 09:57:54 AM
Bitcoin will definitely go above $15k and there is no way it will not, we are just waiting for it to happen and it may take some time before it happens but there is no world where it will not happen. However this doesn't mean that it will never go down, this doesn't mean that the first thing it does will be going over $15k, it just means that "eventually" it will go there.

That is why I always said buy right now, from $6k to $12k all the time I said buy now, because you may wait but there is no other investment that you could have that could make it 50% profit in a year of time, you can invest into anything and it will not yield that much profit.

Resistance breaking will just confirm this and it may happen quicker if we could break just two resistance points back to back.


Title: Re: What will happen next if the resistance breaks?
Post by: DeathAngel on October 09, 2020, 11:10:46 AM
$11,000 broken, possibly a move on $12,000 this weekend. Q4 is historically a really good time for the price. Exciting times await I think.


Title: Re: What will happen next if the resistance breaks?
Post by: btc78 on October 09, 2020, 11:31:53 AM
$11,000 broken, possibly a move on $12,000 this weekend. Q4 is historically a really good time for the price. Exciting times await I think.
Though it is late for 4th quarter entering yet the price istarting to move up,maybe this is because of the "Square Company" that bought $50 million worth
 of Bitcoin as started and maybe there is more to come.
It is always been best when the last quarter of the year comes because many good movement happens aside for 2018 when we are really in deep market when last quarter comes.


Title: Re: What will happen next if the resistance breaks?
Post by: virasog on October 09, 2020, 05:39:48 PM
what you expect seems nothing to happen mate because we cannot even reach $10,900 again instead continue falling again.
It looks like we will get what we want in the latter part of this 4th quarter .

i can't do anything now because i am waiting for at least below 9k before purchasing again or 15k to sell of.

I agree with everything except the reasoning about the level of 10,900 (I consider fluctuations in +/- 500 dollars insignificant). I sold bitcoin at 12300 and I see that now the situation looks more like a slow fall, so I'm waiting for more pleasant levels in order to make a buyback.

Funnily enough, the price almost reached the discussed level after I wrote this post  :D
But nothing has fundamentally changed, this is not the beginning of a new bullish trend, but the usual volatility, so those who want to buy bitcoin should wait for more interesting levels.

I have observed that bitcoin pumps in first 15 days of the month and dump in the last 15 days of the month. This is my analysis for last few months and due to this we are seeing some pump in bitcoin prices as we are in the fist half of the month. Lets see if it starts to dump after 15th October.  :)

Although there is no logic behind this and there is no fundamental change as mentioned by you, but its just an observation.


Title: Re: What will happen next if the resistance breaks?
Post by: STT on October 09, 2020, 11:29:44 PM
Good continuation from prior resistance and various negative momentum, I do need the weekly bar to form positively but BTC could do well so long as its held this area going forwards.

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

Its quite clear in moving upwards when it does this, past negative trend past the 50 day declining moving average.   The wider time frame will take longer to confirm a proper positive move and I do think the bigger resistance is vs volume above 10k or 10.5k as we've had recently as pivotal price.
  So for next week and future reference, lets call out 11030 as an area to hold as a low and obviously get past on weekly bars.   We do seem like we'll end this week on sunday as a positive but theres always a counter story to contend with.


Title: Re: What will happen next if the resistance breaks?
Post by: Hippocrypto on October 09, 2020, 11:59:13 PM
$11,000 broken, possibly a move on $12,000 this weekend. Q4 is historically a really good time for the price. Exciting times await I think.
Though it is late for 4th quarter entering yet the price istarting to move up,maybe this is because of the "Square Company" that bought $50 million worth
 of Bitcoin as started and maybe there is more to come.
It is always been best when the last quarter of the year comes because many good movement happens aside for 2018 when we are really in deep market when last quarter comes.
The situation of bitcoin market isn't that progressive right now, because same bearish pattern was still pulling down the price. Meanwhile, I've seen some point that resistance will be break but not so easy due to worldwide health crisis or the pandemic. Big investors also considering the world economy before risking their funds towards cryptocurrency. Hopefully we will experience slight gains after price corrections.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 10, 2020, 06:25:16 AM


They know the valve of the currency, they are just trying to play the first mover advantage. Deep down they're only trying to overthrown the US by dominating what they believe will be the next world currency.

They make the world dependent on bitcoin.
And we can see in the future that China, in addition to taking over the economy, can be one of the developed countries of bitcoin.


Title: Re: What will happen next if the resistance breaks?
Post by: F_Societys on October 10, 2020, 06:32:27 AM
As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.

We have to wait for special conditions to stabilize in channel 11000.
Trump also used the policy to his advantage.
And it can be seen that bitcoin has also been slightly affected.
It is in this context that we can say that politics determines everything.


Title: Re: What will happen next if the resistance breaks?
Post by: Oasisman on October 10, 2020, 09:53:31 AM
As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.
It is in this context that we can say that politics determines everything.

I have to agree with this, considering the volume of Bitcoin adoption in the US that has been affected by any political events. As much as I don't want to believe that Bitcoin has no correlation with politics, but I guess everything is correlated with politics specially in the US now. Even the popular athletes has engaged into politics.
Entrepreneurs, investors, and other financial business related people might as well engage into politics, thus affecting stocks and Bitcoin.

The Trump tweet and his Covid positive news that causes negative effect on Bitcoin price seems didn't stayed long, and Btc is back on track at $11,000.


Title: Re: What will happen next if the resistance breaks?
Post by: Distinctin on October 10, 2020, 11:26:31 AM
We have to wait for special conditions to stabilize in channel 11000.
Trump also used the policy to his advantage.
And it can be seen that bitcoin has also been slightly affected.
It is in this context that we can say that politics determines everything.
A good thing to see now is that we are moving beyond the $11k wall and trying to break $12k later. Might be a coincidence that it pumps closely together as the US election come, it might affect the trend but not sure how it works. It could have a politics influence or not, Bitcoin will still make a good rally anytime soon. All we have to do now is to wait how it changes the trend and strong resistance will stay on the momentum as it keeps moving high at this point.


Title: Re: What will happen next if the resistance breaks?
Post by: ShowOff on October 10, 2020, 12:17:04 PM
-snip-
The Trump tweet and his Covid positive news that causes negative effect on Bitcoin price seems didn't stayed long, and Btc is back on track at $11,000.
I don't think that negative news about covid-19 can affect bitcoin price in the long run. Some time ago I also thought bitcoin would undergo a major correction just because Trump was infected, but in fact the price of bitcoin has broken its nearest resistance and hit $11K plus.

I think the negative issues that have been spreading about Covid will only have a negative impact on stock prices and the world economy in general. But bitcoin looks pretty strong against the wave of panic among stock investors and they were also interested in bitcoin after the stock fell. Bitcoin has become a good option to consider for investors if they don't trust the less profitable stocks enough during the pandemic.


Title: Re: What will happen next if the resistance breaks?
Post by: slaman29 on October 10, 2020, 12:20:04 PM
As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.

Looks like the weekend is being really kind so far. Trump's comments dropped a few hundred dollars off the BTC price but the Square/Jack Dorsey news and comments seemed to have not only recovered that but pushed BTC way up above 11k right now. Think people are hoping we see 13k by end of month for a serious Christmas price;)


Title: Re: What will happen next if the resistance breaks?
Post by: jostorres on October 11, 2020, 03:01:46 PM
As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.
It is in this context that we can say that politics determines everything.

I have to agree with this, considering the volume of Bitcoin adoption in the US that has been affected by any political events. As much as I don't want to believe that Bitcoin has no correlation with politics, but I guess everything is correlated with politics specially in the US now. Even the popular athletes has engaged into politics.
Entrepreneurs, investors, and other financial business related people might as well engage into politics, thus affecting stocks and Bitcoin.

The Trump tweet and his Covid positive news that causes negative effect on Bitcoin price seems didn't stayed long, and Btc is back on track at $11,000.
Politics do not determine "everything" most of the time but it does and also should determine many major things.

We are talking about a whole idea of a nation changing, lets take USA for example because everyone knows USA and their own nation, so we can pick USA for global example; In USA if Trump wins there is a right wing conservative and against progress agenda that will continue, obviously they will decline that they do not want new things, but this is the party that wants to be in the 60's and that is why I do not think it will be great for small business and workers, but the stock market could be better considering those companies will make profit thanks to right win capitalist ideas.

Opposite for Biden, he would have people more progressive in his team and that may make workers and small business earn more but make huge companies pay more taxes as well. So in the end it affects economy deeply depending on winners.


Title: Re: What will happen next if the resistance breaks?
Post by: romero121 on October 16, 2020, 11:59:42 PM
As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.

Looks like the weekend is being really kind so far. Trump's comments dropped a few hundred dollars off the BTC price but the Square/Jack Dorsey news and comments seemed to have not only recovered that but pushed BTC way up above 11k right now. Think people are hoping we see 13k by end of month for a serious Christmas price;)
Every time the price will be dragged forward based on the speculation with Christmas Eve, and there'll be rise in the price. This happens as a result of most people selling their holdings to spend on the vacation. This time the US election and the Christmas is so close between months. Possibly a better outcome from the election result will cause a positive growth, and the same continues with the Christmas year end price move. A positive statement about bitcoin from the winning candidate once after the result will be big blessing for the year 2020.


Title: Re: What will happen next if the resistance breaks?
Post by: rodskee on October 17, 2020, 04:51:18 AM
Hello to all friends
Rsi has a negative divergence in 4H timeframe, and considering that it could not break the resistance of 10620, I think we will have a correction to the range of 10300, but if 10620 is broken, the next position is 10750, which is a strong resistance range.
This is my analysis.

And the next analysis:

Due to the negative conditions and news these days, Bitcoin has maintained itself and has not fallen seriously and has even grown a bit.

This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.


Not true because Bitcoin got stable in $10,000-11,000 for the whole month of september and even this month of october so this means we are only waiting to break the $12,500-13,000 before we see the Bull that we all desiring for.
Bitcoin has passed the resistance of 10,000 and now we are witnessing a new resistance in the range of 11,000.
It can be said that the market impact on Bitcoin has been good.
We also have to wait for the elections.
Elections will play an important role in Bitcoin.
But we have not did the resistance of 12k for the whole year,for how many times that bitcoin seats at 12,000 but stays only for a day or over and then fell again below.


Title: Re: What will happen next if the resistance breaks?
Post by: shoreno on October 17, 2020, 05:47:25 AM
Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.
Trump's comments dropped a few hundred dollars off the BTC price

thats what they say but theres really a connection ? if i compare that to the covid ill say that covid has a little impact on the price  of btc but trump speech has zero . resistance already breaks and what happens ? well the price are now higher than before and the price stayed on this another high level  .

 it gives a sign that ill will increase for more  . this is exciting and this was like history are now repeating . if im correct that history repeats , the price can go up till 18k or more  .


Title: Re: What will happen next if the resistance breaks?
Post by: LogitechMouse on October 17, 2020, 08:52:41 AM
Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.
Trump's comments dropped a few hundred dollars off the BTC price

thats what they say but theres really a connection ? if i compare that to the covid ill say that covid has a little impact on the price  of btc but trump speech has zero . resistance already breaks and what happens ? well the price are now higher than before and the price stayed on this another high level  .

 it gives a sign that ill will increase for more  . this is exciting and this was like history are now repeating . if im correct that history repeats , the price can go up till 18k or more  .
Anything that Trump can say may affect the Stock Market of the US and the price of the Stock Market and the price of crypto and correlated with each other so what Trump is saying doesn't have any direct impact on crypto but on Stock Market.

The price now of Bitcoin went down a few dollars because of the article regarding OKex Founder being held in the custody. LINK (https://www.coindesk.com/okex-founder-star-xu-named-as-key-holder-in-police-custody-report)
What I want to see is Bitcoin moving at around $11,000-$12,000 within the next few days or weeks so we can see it going higher in the next weeks. I'm not that bullish though since there are no catalysts as of this moment that will make the price go up.


Title: Re: What will happen next if the resistance breaks?
Post by: carlisle1 on October 17, 2020, 10:44:50 AM

Anything that Trump can say may affect the Stock Market of the US and the price of the Stock Market and the price of crypto and correlated with each other so what Trump is saying doesn't have any direct impact on crypto but on Stock Market.
but the impact in stock market usually bounced to crypto as well,but things will end up sooner while Trump is not going to win this election,because it seems that Biden is on the rush now.
Quote
The price now of Bitcoin went down a few dollars because of the article regarding OKex Founder being held in the custody. LINK (https://www.coindesk.com/okex-founder-star-xu-named-as-key-holder-in-police-custody-report)
What I want to see is Bitcoin moving at around $11,000-$12,000 within the next few days or weeks so we can see it going higher in the next weeks. I'm not that bullish though since there are no catalysts as of this moment that will make the price go up.
12k is just near and always being reached the problem is breaking that 12k to hit 13k for the first time again since the dump of 2018 happens.


Title: Re: What will happen next if the resistance breaks?
Post by: daarul50 on October 18, 2020, 07:07:11 AM
It is 11500 us dollar move swinging between 11200 to 11700 , the new resistance must bet at 12000 us dollar and even though we break it , i still think we are still bearish to go down bacl to 10000 is dollar to swing back between 10900 and 10000 us dollar.
At least we have to wait until the cpvid19 vaccine announced to be ready to distributed.
We only need to survive for this tough period, the market still struggle recovering . Negative trends will continue IMHO


Title: Re: What will happen next if the resistance breaks?
Post by: Reatim on October 18, 2020, 08:50:13 AM
we have already break the $11,400 recently means are we waiting now for the next resistance?
i know we are not yet in bullish days but at least we are strong hold at these positions.

It is 11500 us dollar move swinging between 11200 to 11700 , the new resistance must bet at 12000 us dollar and even though we break it , i still think we are still bearish to go down bacl to 10000 is dollar to swing back between 10900 and 10000 us dollar.
At least we have to wait until the cpvid19 vaccine announced to be ready to distributed.
We only need to survive for this tough period, the market still struggle recovering . Negative trends will continue IMHO
i don't think that there will be another correction at 10,000$ level because what we have resisted that part for the whole week now and signs of falling is not to be found.

Though there are still lots of things to happen as the pandemic is still there and the US election is near to come,things that must be considered as market shaking .


Title: Re: What will happen next if the resistance breaks?
Post by: SquallLeonhart on October 18, 2020, 10:09:48 AM

Anything that Trump can say may affect the Stock Market of the US and the price of the Stock Market and the price of crypto and correlated with each other so what Trump is saying doesn't have any direct impact on crypto but on Stock Market.
but the impact in stock market usually bounced to crypto as well,but things will end up sooner while Trump is not going to win this election,because it seems that Biden is on the rush now.
Biden is definitely looking like even more and more favored to win, normally I would say never count Trump out but people have been milking this 2016 fear for a long long time now yet we are nowhere near the same level as those days. 2016 was an election when nobody really knew Trump that well, plus the progressive side of democrats (aka the bernie fans) didn't even wanted to vote because of how DNC treated Bernie as well, so at that time Trump didn't had all these horrible things going for him.

This election however, people already saw what Trump is capable of and everyone, from progressive to centrist to even some republicans all are working and the voting is incredibly high, polls are record breaking high in difference, I assume Biden could potentially have the highest electoral votes in the past 30-40 years.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on October 18, 2020, 11:55:16 AM
we have already break the $11,400 recently means are we waiting now for the next resistance?
i know we are not yet in bullish days but at least we are strong hold at these positions.
~

What resistance level do you think will be next? Everyone has different opinions, someone talks about 12,600, someone about other levels up to 15,000. And what is your reasoning based on? Are you using technical analysis or fundamental?


Title: Re: What will happen next if the resistance breaks?
Post by: kentrolla on October 18, 2020, 02:49:56 PM
The resistance level break has the chance of a downward movement than the forward push. There is minor fluctuations in the market volume at specific time interval. Right now there is big variation in the market of altcoins, almost every altcoin have declined on its value. As of now every move happening with bitcoin seems to be associated with the election campaigning happening activities of USA.

I never consider these small fluctuations as drop because it's common in crypto market and we have experienced these issue in several occasions, and yes lookalike the election results of US will play a vital role in this last quarter. Because there are possibilities of a pump after this election as the economy will boom for couple of days after the results. Some interesting things are suppose to happen let's wait and see.


Title: Re: What will happen next if the resistance breaks?
Post by: posi on October 18, 2020, 10:58:30 PM
we have already break the $11,400 recently means are we waiting now for the next resistance?
i know we are not yet in bullish days but at least we are strong hold at these positions.
~

What resistance level do you think will be next? Everyone has different opinions, someone talks about 12,600, someone about other levels up to 15,000. And what is your reasoning based on? Are you using technical analysis or fundamental?
There is some market price momentum that cant be proof by any price indicators but only through historical data which is what I believe was used to presume the next phase of resistance which the market will experience but I expect the next resistance level to be arou d $12500 and later dump below when it Dec 19 - next year January.


Title: Re: What will happen next if the resistance breaks?
Post by: daarul50 on October 20, 2020, 09:24:58 AM
we have already break the $11,400 recently means are we waiting now for the next resistance?
i know we are not yet in bullish days but at least we are strong hold at these positions.

It is 11500 us dollar move swinging between 11200 to 11700 , the new resistance must bet at 12000 us dollar and even though we break it , i still think we are still bearish to go down bacl to 10000 is dollar to swing back between 10900 and 10000 us dollar.
At least we have to wait until the cpvid19 vaccine announced to be ready to distributed.
We only need to survive for this tough period, the market still struggle recovering . Negative trends will continue IMHO
i don't think that there will be another correction at 10,000$ level because what we have resisted that part for the whole week now and signs of falling is not to be found.

Though there are still lots of things to happen as the pandemic is still there and the US election is near to come,things that must be considered as market shaking .
You never know in this pandemic era as long as there is no vaccine to be found or any other solution to this virus , people will consider the market still uncertain.
Better to play safe than have to go allin in big risk during this time.
With this uncertain situation and the market can be stuck again at 12000 us dollar people will tired and especially the big company who managing millions dollar in bitcoin , their movement are the most watched now like grayscale.
I still think a bearish much stronger until the end of the year at least even it is bull trend now.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on October 23, 2020, 09:34:09 AM
we have already break the $11,400 recently means are we waiting now for the next resistance?
i know we are not yet in bullish days but at least we are strong hold at these positions.
~

What resistance level do you think will be next? Everyone has different opinions, someone talks about 12,600, someone about other levels up to 15,000. And what is your reasoning based on? Are you using technical analysis or fundamental?
There is some market price momentum that cant be proof by any price indicators but only through historical data which is what I believe was used to presume the next phase of resistance which the market will experience but I expect the next resistance level to be arou d $12500 and later dump below when it Dec 19 - next year January.

Only a few days have passed and I have to repeat my question: what is the next level of resistance?  :D We can consider the level of 12,500 to be confidently passed, right? And by the way, if you expect a dump (in the form of a correction or more global?) then to what levels?


Title: Re: What will happen next if the resistance breaks?
Post by: posi on October 23, 2020, 01:12:34 PM
we have already break the $11,400 recently means are we waiting now for the next resistance?
i know we are not yet in bullish days but at least we are strong hold at these positions.
~

What resistance level do you think will be next? Everyone has different opinions, someone talks about 12,600, someone about other levels up to 15,000. And what is your reasoning based on? Are you using technical analysis or fundamental?
There is some market price momentum that cant be proof by any price indicators but only through historical data which is what I believe was used to presume the next phase of resistance which the market will experience but I expect the next resistance level to be arou d $12500 and later dump below when it Dec 19 - next year January.

Only a few days have passed and I have to repeat my question: what is the next level of resistance?  :D We can consider the level of 12,500 to be confidently passed, right? And by the way, if you expect a dump (in the form of a correction or more global?) then to what levels?
I expect the dump to happen in form of market correction and since have surpass the resistance level i honestly dont know when the correction will happen because the Paypal cryptocurrency integration hype have totally change the market trend and the uptrend may happen more than expected. However, the correction will still happen during December till January next year.


Title: Re: What will happen next if the resistance breaks?
Post by: LUCKMCFLY on October 23, 2020, 01:26:29 PM
Whenever I see the RSI, it is to do short-term trading, that is, scalping, although it seems like a very dangerous trading, I do little, the resistance that is placed at $ 11.5k for me is subjective, for the mere fact that Whales are not aware of these indicators, they plan their movements up to months in advance, of course, when a fundamental such as Covid-19 occurs, they evaluate the level of panic in the market and withdraw or delay their movements.


Title: Re: What will happen next if the resistance breaks?
Post by: 3meek on October 23, 2020, 02:28:05 PM
I see resistance in the area of 14K... If we are able to overcome it, then the following resistance is possible in the region of 16K, then 17K... Next stop on ATH!  ;) And then only open space! ;D

This scenario looks extremely optimistic for me! ;D


Title: Re: What will happen next if the resistance breaks?
Post by: stomachgrowls on October 23, 2020, 06:57:01 PM
I see resistance in the area of 14K... If we are able to overcome it, then the following resistance is possible in the region of 16K, then 17K... Next stop on ATH!  ;) And then only open space! ;D

This scenario looks extremely optimistic for me! ;D
We arent there yet since we havent able to break that 13k barrier. Speaking of technicals then there are indeed some on point levels but majority do follow with that $1000 mark which is normal
that we do longing for 13k 14k onwards ...

When it comes to resistance then i dont see that we would able to break 13k soon.We might see an another sideways movement on this current price and might be stagnant for a while but at least
we are almost in 13k range which is a really a good sight to see after all the years we've been staying in 10-11k level.

What if the next resistance breaks? For sure we would be heading up on another one. Time will tell and we shouldnt rush things up.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on October 23, 2020, 08:51:46 PM
Only a few days have passed and I have to repeat my question: what is the next level of resistance?  :D We can consider the level of 12,500 to be confidently passed, right? And by the way, if you expect a dump (in the form of a correction or more global?) then to what levels?
I expect the dump to happen in form of market correction and since have surpass the resistance level i honestly dont know when the correction will happen because the Paypal cryptocurrency integration hype have totally change the market trend and the uptrend may happen more than expected. However, the correction will still happen during December till January next year.

In fact, I also did not expect the current rise, earlier, before the big fall, I left Bitcoin at 12300, but I thought that the fall would be deeper, so I did not buy back at very favorable levels. Now it looks like I'll have to wait until the end of the year to get those good prices  :-\


Title: Re: What will happen next if the resistance breaks?
Post by: Viscore on October 23, 2020, 09:11:20 PM
Whenever I see the RSI, it is to do short-term trading, that is, scalping, although it seems like a very dangerous trading, I do little, the resistance that is placed at $ 11.5k for me is subjective, for the mere fact that Whales are not aware of these indicators, they plan their movements up to months in advance, of course, when a fundamental such as Covid-19 occurs, they evaluate the level of panic in the market and withdraw or delay their movements.
I don't think that whales are not aware of the situation because most likely they are the ones that give a huge influence in the trend.

From $10k+, move up to $12k, I feel the bullish come near to us (hopefully). But the fact that the market remains volatile, we still acted cautious in every trade we do. We don't need to be FOMO, we don't need to do panic selling because of a dump worries will happen next, lets wait for awhile to stabilize and help it to move high.


Title: Re: What will happen next if the resistance breaks?
Post by: dimonstration on October 23, 2020, 09:15:58 PM
I see resistance in the area of 14K... If we are able to overcome it, then the following resistance is possible in the region of 16K, then 17K... Next stop on ATH!  ;) And then only open space! ;D

This scenario looks extremely optimistic for me! ;D
If it will continue to break another resistance then it can be a good sign for another ATH, but its still to early to be excited there is still need more news that can influence the price to reach more heights, we will know after election whether it will continue. Is PayPal news and upcoming Presidential elections will make more breakthrough in BTC and can push to another resistance. Or whales will take this time to buy more or sale when another resistance reach, we should keep monitoring.


Title: Re: What will happen next if the resistance breaks?
Post by: philipma1957 on October 24, 2020, 12:48:11 PM
Hello to all friends
Rsi has a negative divergence in 4H timeframe, and considering that it could not break the resistance of 10620, I think we will have a correction to the range of 10300, but if 10620 is broken, the next position is 10750, which is a strong resistance range.
This is my analysis.

And the next analysis:

Due to the negative conditions and news these days, Bitcoin has maintained itself and has not fallen seriously and has even grown a bit.

This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.



So this looks like you got it wrong we broke 11k we broke 12k and we are over 13k

So the new question is 13k the next resistance zone?

I for one would like to see price float at 12800-13400 for a month or more basically ignore the USA election and be on its own thing. Independent so to speak.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on October 24, 2020, 04:02:38 PM
So this looks like you got it wrong we broke 11k we broke 12k and we are over 13k

So the new question is 13k the next resistance zone?

I for one would like to see price float at 12800-13400 for a month or more basically ignore the USA election and be on its own thing. Independent so to speak.

This is highly unlikely. These elections are unique in that if earlier the disagreements between the candidates were insignificant, now they are principled and we can say that in these elections it is decided which of the two different paths to go. Since bitcoin directly depends on the real economy, the election results will directly affect its price.


Title: Re: What will happen next if the resistance breaks?
Post by: buwaytress on October 24, 2020, 10:26:41 PM
If it will continue to break another resistance then it can be a good sign for another ATH, but its still to early to be excited there is still need more news that can influence the price to reach more heights, we will know after election whether it will continue. Is PayPal news and upcoming Presidential elections will make more breakthrough in BTC and can push to another resistance. Or whales will take this time to buy more or sale when another resistance reach, we should keep monitoring.

Good signs don't mean anything in the big picture. That ATH's coming down, just a matter of this year, the next, or the one after, and the one after that if not, and so on. What's more interesting for me in this coming 12 months is really just how badly the global recession will eventually end up becoming, and then just how badly fiat will fare. Have a feeling there's where all practical attention will turn to.


Title: Re: What will happen next if the resistance breaks?
Post by: deisik on October 25, 2020, 05:42:51 PM
So the new question is 13k the next resistance zone?

I for one would like to see price float at 12800-13400 for a month or more basically ignore the USA election and be on its own thing. Independent so to speak

In the summer of 2019 we surged to nearly 15k

And then went down below 10k again. Reason? Chinese have pulled a mighty scam that accepted Bitcoin. The point is, we should clearly understand the reasons for the current rally – if it can be called rally in the first place. I think the present uptrend is thanks to the upcoming US presidential elections. After we are past them, it may be time for a strong and powerful correction. But there can be other factors at play here, of course


Title: Re: What will happen next if the resistance breaks?
Post by: bitgolden on October 25, 2020, 07:14:35 PM
Once again bitcoin has increased and put itself over $13k and right now at $13050 that is really a good sign because bitcoin shows the world that the bull run never ended. Sure we dropped to levels of $12700 or so and that wasn't good but it wasn't a big drop, on contrary to popular belief I never thought that was a bear run, a bear run would have seen us go under $11k and even possible under 10k as well, we never had anything like that, we had just $12k+ and that was a good place to stay and wait.

After that much wait we finally managed to go back up and just as we moved beyond 13k everyone got a hope about where it was directed and now we are heading to $15k slowly . I do not want to give any investment advice but I feel like there is going to be something like a $18k before 2021 hits (do not make trade based on my assumptions).


Title: Re: What will happen next if the resistance breaks?
Post by: Lanatsa on October 25, 2020, 07:53:47 PM
So the new question is 13k the next resistance zone?

I for one would like to see price float at 12800-13400 for a month or more basically ignore the USA election and be on its own thing. Independent so to speak

In the summer of 2019 we surged to nearly 15k

And then went down below 10k again. Reason? Chinese have pulled a mighty scam that accepted Bitcoin. The point is, we should clearly understand the reasons for the current rally – if it can be called rally in the first place. I think the present uptrend is thanks to the upcoming US presidential elections. After we are past them, it may be time for a strong and powerful correction. But there can be other factors at play here, of course
Don't forget with that paypal thing where we can really presume out that it did really make out some significant effect on price increase that we had seen recently. Jumping from 11k to 13k
in a short span of time.

Not really a fan of fundamentals but these kind of adoption news or even positive ones might or might not really affect the crypto market but its not really bad to presume out
that these events did really affect on the movements of this market.

What will happen next if resistance breaks? of course we would see new heights (not on ATH though) yet this might still takes time.


Title: Re: What will happen next if the resistance breaks?
Post by: deisik on October 25, 2020, 09:01:26 PM
So the new question is 13k the next resistance zone?

I for one would like to see price float at 12800-13400 for a month or more basically ignore the USA election and be on its own thing. Independent so to speak

In the summer of 2019 we surged to nearly 15k

And then went down below 10k again. Reason? Chinese have pulled a mighty scam that accepted Bitcoin. The point is, we should clearly understand the reasons for the current rally – if it can be called rally in the first place. I think the present uptrend is thanks to the upcoming US presidential elections. After we are past them, it may be time for a strong and powerful correction. But there can be other factors at play here, of course
Don't forget with that paypal thing where we can really presume out that it did really make out some significant effect on price increase that we had seen recently. Jumping from 11k to 13k
in a short span of time

My theory of volatility death spiral still holds

And the only way to unwind it is through massive cryptocurrency adoption as a means of payment. But it is highly unlikely that Bitcoin is going to be used for this exact purpose, so things are in fact even more complicated. In a nutshell, Litecoin and Bitcoin Cash seem to be the best candidates for this role but their use as a means of payment will be hindered by the use of Bitcoin as a store of value which remains in the hands, or rather circles, of that spiral (fewer available bitcoins necessarily leads to higher volatility)


Title: Re: What will happen next if the resistance breaks?
Post by: coolcoinz on October 25, 2020, 09:22:27 PM
So the new question is 13k the next resistance zone?

I for one would like to see price float at 12800-13400 for a month or more basically ignore the USA election and be on its own thing. Independent so to speak

In the summer of 2019 we surged to nearly 15k

And then went down below 10k again. Reason? Chinese have pulled a mighty scam that accepted Bitcoin. The point is, we should clearly understand the reasons for the current rally – if it can be called rally in the first place. I think the present uptrend is thanks to the upcoming US presidential elections. After we are past them, it may be time for a strong and powerful correction. But there can be other factors at play here, of course

Firstly, this is a rally, and I'm not even focusing on what happened last week. We are in a steady uptrend with corrections after each step (very healthy because the price confirms every support by going down, touching it and rallying again). In April we were at 6k, 9k in June, 1.5k in September, 13k in October (which I believe will end with a healthy correction to 11k).
Secondly, I don't agree that the cause of this is the election. US presidents haven't done anything good for Bitcoin and it doesn't look like whoever wins will change it. It's a combination of  some big purchases by institutions, the recent PayPal news and the pandemic that makes people scared of a possible economic shutdown.


Title: Re: What will happen next if the resistance breaks?
Post by: philipma1957 on October 26, 2020, 12:56:13 AM
So the new question is 13k the next resistance zone?

I for one would like to see price float at 12800-13400 for a month or more basically ignore the USA election and be on its own thing. Independent so to speak

In the summer of 2019 we surged to nearly 15k

And then went down below 10k again. Reason? Chinese have pulled a mighty scam that accepted Bitcoin. The point is, we should clearly understand the reasons for the current rally – if it can be called rally in the first place. I think the present uptrend is thanks to the upcoming US presidential elections. After we are past them, it may be time for a strong and powerful correction. But there can be other factors at play here, of course


no we did not surge to nearly 15k

we surged to nearly 14k.

but a crash and burn can always happen. For lots of reasons.


Title: Re: What will happen next if the resistance breaks?
Post by: pooya87 on October 26, 2020, 07:57:33 AM
~
My theory of volatility death spiral still holds

And the only way to unwind it is through massive cryptocurrency adoption as a means of payment. But it is highly unlikely that Bitcoin is going to be used for this exact purpose, so things are in fact even more complicated.
this theory is not new. basically each time we have been about to start a big rise people make the same claims about needing mass adoption to rise above $1, $10, $20, $200, $1000, $5000, $10000 and now again with $20000 and yet bitcoin keeps setting new records every couple of years.
it is because the adoption is already happening and it doesn't need to be some crazy scale adoption to set a new ATH. what we are getting is more than enough for it. the mass adoption is needed to reach $10 million per coin.

Quote
In a nutshell, Litecoin and Bitcoin Cash seem to be the best candidates for this role but their use as a means of payment will be hindered by the use of Bitcoin as a store of value which remains in the hands, or rather circles, of that spiral (fewer available bitcoins necessarily leads to higher volatility)
LTC has been around for nearly as long as bitcoin has been and so far it doesn't really have any usages since at the end of the day it is still a copy of a better currency.
bcash is also the same (being a copy) but it also has 2 more disadvantages the render it useless. it is both centralized and mutable.


Title: Re: What will happen next if the resistance breaks?
Post by: ultrloa on October 26, 2020, 08:20:58 AM
So the new question is 13k the next resistance zone?

I for one would like to see price float at 12800-13400 for a month or more basically ignore the USA election and be on its own thing. Independent so to speak

In the summer of 2019 we surged to nearly 15k

And then went down below 10k again. Reason? Chinese have pulled a mighty scam that accepted Bitcoin. The point is, we should clearly understand the reasons for the current rally – if it can be called rally in the first place. I think the present uptrend is thanks to the upcoming US presidential elections. After we are past them, it may be time for a strong and powerful correction. But there can be other factors at play here, of course


no we did not surge to nearly 15k

we surged to nearly 14k.

but a crash and burn can always happen. For lots of reasons.

Hopefully those crash will not come since it's good to see bitcoins is pumping even if theirs pandemic happening , for sure it will gain popularity to those who newly know bitcoins and it will be highlight on blogs/vlogs as well in news articles.

But I will still see the next move and want to earn with this current movement.


Title: Re: What will happen next if the resistance breaks?
Post by: deisik on October 26, 2020, 04:02:53 PM
~
My theory of volatility death spiral still holds

And the only way to unwind it is through massive cryptocurrency adoption as a means of payment. But it is highly unlikely that Bitcoin is going to be used for this exact purpose, so things are in fact even more complicated.
this theory is not new. basically each time we have been about to start a big rise people make the same claims about needing mass adoption to rise above $1, $10, $20, $200, $1000, $5000, $10000 and now again with $20000 and yet bitcoin keeps setting new records every couple of years

Well, I make a somewhat different claim

I don't say that we can't reach 100k or 1M, but how sustainable will those prices be? How long did we stay at 20k? A couple hours? How long did we stay above 15k? A couple weeks or so, all in all? That's the point. For sustainable prices we need mass adoption. Without it, we will get locked in the volatility death spiral. And the higher the price goes (without adoption), the deeper we will get sucked in it

In a nutshell, Litecoin and Bitcoin Cash seem to be the best candidates for this role but their use as a means of payment will be hindered by the use of Bitcoin as a store of value which remains in the hands, or rather circles, of that spiral (fewer available bitcoins necessarily leads to higher volatility)
LTC has been around for nearly as long as bitcoin has been and so far it doesn't really have any usages since at the end of the day it is still a copy of a better currency

But you are not going to say that Bitcoin will be used for payments, are you? If not, then what will be?


Title: Re: What will happen next if the resistance breaks?
Post by: ibuddy122505 on October 26, 2020, 04:27:24 PM

Hopefully those crash will not come since it's good to see bitcoins is pumping even if theirs pandemic happening , for sure it will gain popularity to those who newly know bitcoins and it will be highlight on blogs/vlogs as well in news articles.

But I will still see the next move and want to earn with this current movement.
I doubt if there any exist who want to see crash, however, it's inevitable though after every surging up normally go down. According to the statistics, bitcoin should test the $12,500 it would be a healthy correction and it will give more confidence then it would be a bull trap.


Title: Re: What will happen next if the resistance breaks?
Post by: STT on October 26, 2020, 09:09:55 PM
Yep thats always best, quite ironic that a price thats tested while rising is stronger for it like forging steel perhaps.   If it just rises or drifts as BTC sometimes does then its liable to do so on less volume and be weaker for it, prone to corrections often sharp.

Quote
disagreements between the candidates were insignificant,
I dont care about politics especially and I dont see either side alters much certainly not immediately but the peaceful transition of power is quite important in terms of calm markets.   Unfortunately part of the Rep rhetoric is to stir up people, confrontation is something of a motivation it seems like and maybe that ends in the election or drags on for a month as I remember in the 2000 election nobody was sure who had won for over 30 days.    Doubts are a wider problem and I think it will play into BTC price action


Title: Re: What will happen next if the resistance breaks?
Post by: barbara44 on October 26, 2020, 09:42:35 PM
I expect the dump to happen in form of market correction and since have surpass the resistance level i honestly dont know when the correction will happen because the Paypal cryptocurrency integration hype have totally change the market trend and the uptrend may happen more than expected. However, the correction will still happen during December till January next year.
Yeah correction doesn't seem to be a thing for now, people assume that just because whenever bitcoin price goes up a lot the correction will happen each time after that, but the reality is we didn't went up that much this time so it doesn't require a correction at all, that is at least what I believe, we went up like 10% and even not that much for now that is why I think correction is not required but also at the same time not every increase has a correction following that, even if there is a 20-30% increase doesn't mean it will be followed by a correction right away, it could go up even more for a long time before it could ever fall.

Obviously it will fall one day, but maybe it will go up to $20k once again until it starts to go down? We do not know when it will happen.


Title: Re: What will happen next if the resistance breaks?
Post by: deisik on October 27, 2020, 10:40:23 AM
Yeah correction doesn't seem to be a thing for now, people assume that just because whenever bitcoin price goes up a lot the correction will happen each time after that, but the reality is we didn't went up that much this time so it doesn't require a correction at all, that is at least what I believe, we went up like 10% and even not that much for now

We rose way beyond 30%

The current rally started from around $9.5k and now we are at $13.2k, which produces a rise of about 40%. In general, it is not about whether a correction is going to happen but rather at what price levels and how deep it will be. We may still have some momentum to climb higher, but it just brings its onset closer and likely making it stronger at the same time

Obviously it will fall one day, but maybe it will go up to $20k once again until it starts to go down? We do not know when it will happen

Right, every bull run eventually ends with a bull trap, but some folks always forget this immutable truth and harsh reality of trading, and crypto trading in particular


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on October 30, 2020, 05:05:45 PM
~
My theory of volatility death spiral still holds

And the only way to unwind it is through massive cryptocurrency adoption as a means of payment. But it is highly unlikely that Bitcoin is going to be used for this exact purpose, so things are in fact even more complicated.
this theory is not new. basically each time we have been about to start a big rise people make the same claims about needing mass adoption to rise above $1, $10, $20, $200, $1000, $5000, $10000 and now again with $20000 and yet bitcoin keeps setting new records every couple of years.
it is because the adoption is already happening and it doesn't need to be some crazy scale adoption to set a new ATH. what we are getting is more than enough for it. the mass adoption is needed to reach $10 million per coin.

I disagree with you. Previous bull markets have often been driven by bitcoin's rise to new levels of popularity and utility. There was a direct relationship between the demand for bitcoin and its price, I think this dependence will continue to dominate in the future.


Title: Re: What will happen next if the resistance breaks?
Post by: exstasie on October 30, 2020, 08:40:44 PM
basically each time we have been about to start a big rise people make the same claims about needing mass adoption to rise above $1, $10, $20, $200, $1000, $5000, $10000 and now again with $20000 and yet bitcoin keeps setting new records every couple of years.
it is because the adoption is already happening and it doesn't need to be some crazy scale adoption to set a new ATH. what we are getting is more than enough for it. the mass adoption is needed to reach $10 million per coin.

I disagree with you. Previous bull markets have often been driven by bitcoin's rise to new levels of popularity and utility. There was a direct relationship between the demand for bitcoin and its price, I think this dependence will continue to dominate in the future.

There is always a direct relationship between demand and price, since price is determined by supply and demand. And adoption is always contributing to demand.

I actually think Bitcoin's bull runs tend to precede improved utility. The market accumulates BTC speculatively, pricing in future utility and expectations of adoption. This accumulation (increased demand, even if only by a relatively small number of large buyers) causes the price to increase. When the price increases enough (particularly once a new ATH is in place) that's when retail hype explodes and we see rapid exponential adoption.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on October 30, 2020, 09:35:16 PM
I disagree with you. Previous bull markets have often been driven by bitcoin's rise to new levels of popularity and utility. There was a direct relationship between the demand for bitcoin and its price, I think this dependence will continue to dominate in the future.

There is always a direct relationship between demand and price, since price is determined by supply and demand. And adoption is always contributing to demand.

I actually think Bitcoin's bull runs tend to precede improved utility. The market accumulates BTC speculatively, pricing in future utility and expectations of adoption. This accumulation (increased demand, even if only by a relatively small number of large buyers) causes the price to increase. When the price increases enough (particularly once a new ATH is in place) that's when retail hype explodes and we see rapid exponential adoption.

In terms of economics, you described a good option. But what kind of mass adoption can there be without technical improvements in bitcoin? Now the network bandwidth is close to its maximum. No hype with new users can happen purely for technical reasons.
This means that you need to add a couple of stages of development to your scheme.


Title: Re: What will happen next if the resistance breaks?
Post by: exstasie on October 31, 2020, 09:11:21 AM
There is always a direct relationship between demand and price, since price is determined by supply and demand. And adoption is always contributing to demand.

I actually think Bitcoin's bull runs tend to precede improved utility. The market accumulates BTC speculatively, pricing in future utility and expectations of adoption. This accumulation (increased demand, even if only by a relatively small number of large buyers) causes the price to increase. When the price increases enough (particularly once a new ATH is in place) that's when retail hype explodes and we see rapid exponential adoption.

In terms of economics, you described a good option. But what kind of mass adoption can there be without technical improvements in bitcoin?

There will always be technical improvements. I'm just saying speculators tend to front run them, buying today based on tomorrow's expected utility. That's why BTC price can rise exponentially in a bubble despite the disappointing UX, fees, etc. newcomers face.

Now the network bandwidth is close to its maximum. No hype with new users can happen purely for technical reasons. This means that you need to add a couple of stages of development to your scheme.

I don't think so. Price tells the whole story. It's been rising into this network congestion. Speculators don't care how high fees are, as long as they expect to make much bigger profits by trading or holding.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on October 31, 2020, 03:13:47 PM
There will always be technical improvements. I'm just saying speculators tend to front run them, buying today based on tomorrow's expected utility. That's why BTC price can rise exponentially in a bubble despite the disappointing UX, fees, etc. newcomers face.

I just thought that speculators can accelerate the price of bitcoin and lead to these sad consequences (high fees, etc.) even if the development of bitcoin at some point will outstrip user requests. That is, it turns out that in any case, speculators can lead everything to an absurd situation. This is both funny and sad at the same time.

Now the network bandwidth is close to its maximum. No hype with new users can happen purely for technical reasons. This means that you need to add a couple of stages of development to your scheme.

I don't think so. Price tells the whole story. It's been rising into this network congestion. Speculators don't care how high fees are, as long as they expect to make much bigger profits by trading or holding.

I don't think that a 10-20 percent price increase can be called a new hype. Perhaps the price can rise up to 20-30k dollars "on old luggage" (technical part), but can it stay there for a long time? I doubt it.


Title: Re: What will happen next if the resistance breaks?
Post by: FanEagle on October 31, 2020, 04:42:46 PM
The only reason why bitcoin goes up is literally demand, we are not producing anything, we are not used in anything neither, we are just a currency and that's it, it is not a product.

So, the only way bitcoin could ever come up is if there is more bitcoins bought on the market than sold, which causes people to buy more expensive increasing the price since the sellers are not willing to sell any cheaper, that is supply/demand 101 and that is the only thing in crypto market that drives the price; which means with all these paypal and all these other stuff that happened this week, price went up because there were more people who wanted to buy than who wanted to sell.

Resistance points are there to show people where the common "this is good enough to take out my profit" levels are but when you break over them, it is easy to go higher and higher.


Title: Re: What will happen next if the resistance breaks?
Post by: exstasie on November 01, 2020, 08:21:44 AM
Price tells the whole story. It's been rising into this network congestion. Speculators don't care how high fees are, as long as they expect to make much bigger profits by trading or holding.

I don't think that a 10-20 percent price increase can be called a new hype. Perhaps the price can rise up to 20-30k dollars "on old luggage" (technical part), but can it stay there for a long time? I doubt it.

How much did Bitcoin really change between the 2013 and 2017 bubbles?

With that in mind, consider that the market rose from the $200s to $20K. When we were in the $200s, someone with your mentality would never have believed price could stay above $3K (or $10K, etc.) for such a long time. And yet we have.

Speculators are buying up all the BTC. They have been since inception, really. That throws a wrench into this theory that everything is dependent on big improvements in utility.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on November 01, 2020, 12:37:02 PM
I don't think that a 10-20 percent price increase can be called a new hype. Perhaps the price can rise up to 20-30k dollars "on old luggage" (technical part), but can it stay there for a long time? I doubt it.

How much did Bitcoin really change between the 2013 and 2017 bubbles?

With that in mind, consider that the market rose from the $200s to $20K. When we were in the $200s, someone with your mentality would never have believed price could stay above $3K (or $10K, etc.) for such a long time. And yet we have.

Speculators are buying up all the BTC. They have been since inception, really. That throws a wrench into this theory that everything is dependent on big improvements in utility.

In fact, I separate the speculation component and the real use of bitcoin, I understand that they are related, but I am more interested in the real use.
You ask about differences by implying that they are either absent or insignificant. But tell me, could we imagine in 2013 that bitcoin would have a bandwidth problem? How often did we see this problem in those years? And in 2017, this problem has already become a new reality. We can call it differently, but the fact is that bitcoin/its demand has radically changed.
And now if you look into the future and think that "speculators and their influence on bitcoin will be the same as in the past, technical improvements are not critical", then I think this will be a mistake.


Title: Re: What will happen next if the resistance breaks?
Post by: redsun114 on November 01, 2020, 08:20:02 PM
The increases affecting the price of bitcoin transactions are one of the reasons why the increase gets hampered and stopped, it was like that last time it happened and it is like that this time it happens as well and I do not see it as something that could help bitcoin in anyway.

I had to receive some money yesterday for example and instead of using bitcoin we used tron and it was both much faster (literally just a minute or maybe sooner) and the cost was basically nothing at all, so at the end of the day why use bitcoin and pay 30+ bucks when you could just use another coin? Which makes people question if I am not going to use bitcoin and the transaction is such a huge hassle and cost, why not pick another coin? Which slows down the increase in bitcoin price.

We need lightning network or something else to make bitcoin transactions faster and cheaper to go 20k+ once again.


Title: Re: What will happen next if the resistance breaks?
Post by: Fredomago on November 01, 2020, 08:55:28 PM
The increases affecting the price of bitcoin transactions are one of the reasons why the increase gets hampered and stopped, it was like that last time it happened and it is like that this time it happens as well and I do not see it as something that could help bitcoin in anyway.

I had to receive some money yesterday for example and instead of using bitcoin we used tron and it was both much faster (literally just a minute or maybe sooner) and the cost was basically nothing at all, so at the end of the day why use bitcoin and pay 30+ bucks when you could just use another coin? Which makes people question if I am not going to use bitcoin and the transaction is such a huge hassle and cost, why not pick another coin? Which slows down the increase in bitcoin price.

We need lightning network or something else to make bitcoin transactions faster and cheaper to go 20k+ once again.

Make sense, if we do have same capabilities transacting using bitcoin it's much better and more people will use it and won't hesitate to support and have a much better value.

There are always good arguments regarding to this but the adjustment needs to be done in order to bring more interest to this system.

For now, we have to deal with it and see how things may turned after breaking another
height, there's need more developments and adjustment.


Title: Re: What will happen next if the resistance breaks?
Post by: STT on November 01, 2020, 08:59:04 PM
I see it the other way possibly, the fees being higher slows down possible spending even if it was light and far more switch strategy to all or nothing because that matches with the costs.   It helps sustain the pricing in BTC by restricting the supply from light spending, people of course always have some dollars for minor transactions.   Overall high fees are a negative and represent inefficiency but the ironic effect in price is positive near term is my take.

Quote
The only reason why bitcoin goes up is literally demand
Speculation is a massive amount of BTC holding, I wish it was all demand and proper usage but alot is just the idea that Dollar will only become worth less every quarter or year at least and so there is little to lose from withholding some of the known limited supply to BTC.   Its a new unique asset in the world and supposing technology is growing and more people will find at least some use the premise to hold is reasonable.
   However this is speculation distinct from demand imo, we dont know the path for BTC absolutely and if the BTC is not circulating then its not demand from usage.   Some might say its no difference, demand is the same however its used but unused BTC I rate second to actual growth of real used BTC.   I see weakness when too many speculate, deflation will occur as QE is no replacement for actual GDP growth and ultimately we will realise failure and loss of value in an economy which is deflation and default so quite simply volatility and rocky ground will upset speculators who need the easy money drift up.


Title: Re: What will happen next if the resistance breaks?
Post by: redsun114 on November 02, 2020, 12:05:44 PM
~snip~
Speculation creates the demand, or at least lack of supply, we are talking about the same thing. You are saying that there are things like fee's not allowing people to spend as much as they want which causes it to go up, or things like speculation of dollar not being as valuable as it used to be that makes people go towards bitcoin.

These are all true and I agree with all of these points but at the bare bottom these do connect to supply and demand as well. People not being able to spend because it is expensive means there is a lack of supply due to a reason, or people thinking dollar will be less valuable and move to bitcoin means there is more demand. So, supply/demand could be found in every single reason why bitcoin price moves and we are in a more demand heavy period now.


Title: Re: What will happen next if the resistance breaks?
Post by: exstasie on November 02, 2020, 07:37:04 PM
How much did Bitcoin really change between the 2013 and 2017 bubbles?

With that in mind, consider that the market rose from the $200s to $20K. When we were in the $200s, someone with your mentality would never have believed price could stay above $3K (or $10K, etc.) for such a long time. And yet we have.

Speculators are buying up all the BTC. They have been since inception, really. That throws a wrench into this theory that everything is dependent on big improvements in utility.
In fact, I separate the speculation component and the real use of bitcoin, I understand that they are related, but I am more interested in the real use.
You ask about differences by implying that they are either absent or insignificant. But tell me, could we imagine in 2013 that bitcoin would have a bandwidth problem? How often did we see this problem in those years?

It was being discussed as a practical issue by early 2013, and a theoretical issue long before that: https://bitcointalk.org/index.php?topic=1347.20

In fact, in 2013 the 250kb soft block size limit was lifted for this reason. In other words, in 2013 it was well known that Bitcoin had very limited transaction per second capabilities, and may continue to have those limits going forward.

And in 2017, this problem has already become a new reality. We can call it differently, but the fact is that bitcoin/its demand has radically changed.

Adoption and accumulation continue, sure, but the fact that BTC exponentially increased in price in 2017 goes to show how disconnected price and underlying utility can be. Speculators just don't care about fees and congestion.

And now if you look into the future and think that "speculators and their influence on bitcoin will be the same as in the past, technical improvements are not critical", then I think this will be a mistake.

That statement would be a lot more valid if BTC were trading in the $3,000s, or below $1,000. As it stands, it's obvious that demand is extremely strong in spite of the same limitations that existed after the activation of Segwit in 2017.


Title: Re: What will happen next if the resistance breaks?
Post by: KTChampions on November 05, 2020, 10:42:33 PM
~
Adoption and accumulation continue, sure, but the fact that BTC exponentially increased in price in 2017 goes to show how disconnected price and underlying utility can be. Speculators just don't care about fees and congestion.
~

Why do you blame this growth only on speculation? Maybe it was caused precisely by the adoption and accumulation that reached a certain limit and "the dam burst"? In the modern digital world, where any trend can cover the entire population of the Earth in a week, this is quite possible.

And now if you look into the future and think that "speculators and their influence on bitcoin will be the same as in the past, technical improvements are not critical", then I think this will be a mistake.

That statement would be a lot more valid if BTC were trading in the $3,000s, or below $1,000. As it stands, it's obvious that demand is extremely strong in spite of the same limitations that existed after the activation of Segwit in 2017.

Honestly, I don't understand you. Why exactly these levels? And what does it really matter to accurately determine the level at which technical difficulties arise - 30k or 50k or 1 million? They will arise and it would be good to get rid of the problems in advance.


Title: Re: What will happen next if the resistance breaks?
Post by: STT on November 05, 2020, 11:58:45 PM
Now you know what happens when resistance breaks, it rises alot more freely then any time normally.    Only problem I find is to weigh the significance of a trend and its potential to then rise.     We had a move in July then downtrend and that broke and now this almost constant rise seems like.

https://talkimg.com/images/2023/06/12/Ac1Fv.png

Action in the last month, push past 50 day trend which was declining then onto the declining trend which it followed for a week then a break up.   Possibly exhaustion after this large bar today, not sure.