Bitcoin Forum

The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell. We were able to stay above that and don't cross the 300 day moving average which would have been very bad, through the weekend, and now that the market started becoming active with the start of the week, we are seeing massive bull pressure to break the $4100 key point. So keep an eye on that number if we cross it, get ready for another re-test of an all time high possible as soon as this week, which with due traction, could lead us to $6000 pretty easily.

6000 for December 31st would be awesome. I think it is definitely possible. :)

I was positively surprised by USD 3500,- holding the way it did. Now the way I see it everything indeed depends on whether we manage to break USD 4100,-.

However I'm afraid that the slightest sneeze by China might send us retesting USD 3500,-, probably even USD 3000,-. Let's see.

Bitcoin was able to maintain its price $3400+ and didn't fall much after once touching $2900 for a day. This shows that it is not a bubble but is experiencing a natural growth. All this downfall was a minor correction. Since, everything with China will be sorted by September end, buying activity has increased and so does the price. As after September price will more likely stay bullish.

Nope, not gonna happen because all the n00b wannabe traders be like "dur hur but mah elliot waves say $200".  ::)

 /s ;D

A new ATH sounds good but is it really possible right now? There is still the hardfork coming this november and the FUD about bitcoin is not yet over. Even if we cross 4100, there is still a great possibility that the price will reverse after that.

The resistance once broken always turns into a floor as a launching pad for future pumps.

This is exactly what we are seeing here. We are very very close to breaking the $4k resistance level(already broken on some exchanges) and soon this will be the floor for bitcoin price. Then, bitcoin has room to grow to around $4500-5000 by the end of the month.

And Chinese rumors and bans are not having as strong an impact as it had a few days ago - which seems to me like another pump is coming very soon.

haha, i love technical analysts :D
not long ago they were saying if we drop below $3000 it is the end of the world and "will descend into hell". now this! it was their speculation that if $3000 resistance breaks price must go down to $2000.... i don't need to remind you that price went to $2900 and could not even last there for more than mere minutes before it jumped back up and went back to $3500 range.

Yeah definitely even with the closure of major chinese exchanges i don't think we'll see much of an effect on the bitcoin's upward trend that has started today at all. BTC is going to definitely break the $4000 barrier this time round.

When this happens, media will cover bitcoin and shed some light on it again, and this will in turn create more demand for bitcoin and i think we may well see $5000+ by the end of October and establish a new all time high.

Of course, price could end up not being that high, but it'll still be $4k+.

Well bitcoin is struggling to break $3900, let alone $4000 or $4100.

I think there are still traders with cash sitting on the sidelines waiting for september 30th, before they make their move.

Regarding the Chinese exchanges - do any users have information of what exactly is going on - have people managed to successfully withdraw their coins or fiat, for example?

It would be nice if those traders sitting on the sidelines with large cash really makes their move on September 30 because if they do, for sure we will break the resistance point and go way above. Regarding Chinese exchanges, most of them has successfully withdrawn all their coins to another international exchange or to fiat so the Chinese influence in btc price will be over pretty soon.

I think much of the resistance one way or the other will be broken at month end when there is further clarity in the Chinese market space. It would be great to see the 4100 point broken and an upward trend towards a new ATH.

I'm not that technical but I love seeing member sharing their analysis. Currently is almost $4000 so I guess we need few more hours or days before breaking it and going to $4100 and as I understand it, if you breach it then we will see another massive bull ran touching $5000 or even new ATH again. The Chinese hangover should be over by now. I think they have already made their move last week when we see the price touch $4000 then it went to $3500-$3600.

I hope I can also read and made TA as you guys so that I can also make a good prediction. I just we really need to see how things evolved in the next coming days to see if we are correct.

I think if BTC surpass the 4200 resistance barrier, it will not stop before 5000-5500 as 'standard' price for next few months.
In case of bigger escalation between US and N Korea, Bitcoin could even reach 20 000.

That does make sense seeing that the recent trend, talking about JPMorgan which in my opinion affect the price of bitcoin in every their statement, I guess that after they're spreading their bullshit about bitcoin and gets bitcoin price dumped they're now having pockets full of bitcoin and ready for another pump, I hope people can learn from it.

We are sitting around $3936 right now, I don't see the drama of it struggling to get past $4000. Round figures always take a couple of tries and this could be the one that's needed to break it.

China doesn't need to be active for us to get back to an ATH. And that these hoping to see the US-North Korea problem escalate to see higher prices... well think again. I don't want to see nuclear war in order to get rich, because what's the point? If you get rich in a world that has become a disaster, you will not be able to enjoy your wealth. We need to hit $100,000 without any major wars happening.

Why everyone is so confident that another bull run is so close?
Maybe its just a bull trap and we will see 3k next.

I am happy to see all the OP above, the thing is right here, even after more complications occurred for past months, bitcoin has sustained its value and has recovered from the critical times. Now it is struggling to break $4000, once this resistance breaks we shall see $5k soon, again November event is there, lets keep an eye on price what is going to happen.

The key point to watch here is probably the $4000 level.

Once we break that the rest is pretty easy. We could easily achieve $6000 as you said by the end of the year despite the constant FUD and hard fork fears, if we can first establish $4000 as a floor for btc price.

We're seeing resistance right now at the $4k level, i think that once we see the resistance being broken, we'll see at least another $500 pump.

$4000 broken, let's see how high we can go. I'd love to see us reach $5000 & see that act as a new floor.

now we already break it, bitcoin could easily go as high as $4800 but I doubt it can get through $5000 barrier, maybe waiting for a moment first and then new highest price will be achieved.
the market is currently now very bullish, the current trend is buy. expecting a good outcome from this one in this month.

I don't see $4979 being a problem anymore. After $4100 was broke, the buy and sell orders shift and the market becomes more bullish and has a positive outlook. Double bottoms and double tops are very rare, I think getting past $5000 is going to be no problem. Just give it a few hours and don't trade, otherwise you may risk missing the next big green candle and there is nothing worse than waking up being on cash.

If we assume that China gets rid of a large number of dollars and wants part of their strategic reserves to store in bitcoin we can see a very great price. We've all heard the rumors, but nobody's seen action from the Chinese government.

China is already letting people to invest because they already rid the large number of dollars so no need to worry once again you will see the great change in market.

Just I predicted, woke with a great sight: $4100 is officially surpassed and we are now sitting above it. With a high of $4270 on Bitstamp this is it... we are going past $5000 this year. So even if it dips back to $4000, buy the dip because the bullish sentiment is very strong. Bitcoin has survived China's ban and is about to prove everyone wrong once again.

After China's bluff was called, the road seems clear with no major bump in view but the November hard fork. Since it is still a while before November, I see the price of Bitcoin pushing pass the $5000 level before long and then recede to await what becomes of the hard fork.

why do you call it "bluff" :D
it was some reality about banning ICOs and also closing exchanges then there was all the FUD about banning bitcoin and mining and all kinds of weird stuff about China and bitcoin.
and none of it matters at all. even if all the FUD were true, the price would have came back here just like it has now! these things can not affect the free market for long.

I also think it's still a bluff. Remember this: China will be back in full force when they make ICOs legal again under certain licenses, and also exchanges will be made legal again, too, if the exchange providers are following a license of the Chinese government's taste. These guys did not only buy the dip, but now that they bought a ton of cheap BTC, they will pump in again by unbanning both ICO and exchanges, sooner or later it will happen.

Too early to say so, as bitcoin could recover above $4100. The only thing which should be watched is another bad news about China completely ban bitcoin. But apparently, they still haven't done it, letting the market continue to speculate, before another crash occurs if something going so bad.
More over, November hard fork in November will be happen, whether people will buy more bitcoin to get free coin or prefer to convert into cash.

i do not think that will effect the price of bitcoin anymore, as we can see that because of that bad news about China banning bitcoin the price was dropped from 5000$ to 3000$ and after a long time bitcoin now recover its position therefore i do not think that we are expecting any other downfall in the price of bitcoin. hopefully this time the price of bitcoin will continue increasing for a long long time.

Woot I really expect that you are right. One will expect bitcoin to get as high as that, but the possibility that it happens this week is just too much.

Holy shit, if that's true, bitcoin might hit new ATH very soon. all these chaos which created by china will soon turning to a big pump month.
by the way, why did china ban both exchanges and bitcoin and then unban it again?

Because China loves to have full control over things, and they also like to do this back and fort with bans (there is a long history of this happening before).

So they ban the thing, buy the dip, regulate it and issue licenses, then they come back with an unban under said licenses, price skyrockets and now they are richer upon further FUD for further dip-buying activities. That is how they work.

Your forecast is very accurate and I  think we have resume another bullish market and this time around we may go as high as $6,000. The key resistance level was broken yesterday and we may  actually see a push towards $4,650 by early next week. I think now is the right time to buy and hold till we get to $6000 Fibonacci  extension level. I also believe that the Chinese regulatory agency news of banning bitcoin tomorrow is not going to affect us as rumors has already influence bitcoin pricing since last week.

        The major technical analyst has evaluated the current and the future growth rate  of bitcoin and they come to the conclusion that if the bitcoin price is surpassing the current major resistance level of 4100 USD it can climb up to USD 5500-6000 level. Also they are expecting the possibility of a bullish market on November
and December.

The technicals are pretty clear right now, but the fundamentals are also looking bullish at least until november.

My thesis is that people are going to FOMO to buy bitcoin in order to receive the free money from the forks that are coming soon (Bitcoin Gold in 25th October and Segwit2xCoin somewhere in November).

So it is very convenient to be holding BTC before these dates, which is why I think we will see an all time high before 25th October. Remember that if you are not holding the coins in your own wallet, you will not receive the coins on the forked chain.

gone over 4400 in the last 24 hours.. will it continue this upward motion in October?? Gone up $500 in the last 7 days. Mid-October $5000??

Seems like we will see 5000 this month.  I don't know if it will go towards 6k though since a lot of people will be selling at 5k.

Seems the acceptance of google and amazon flares up Bitcoin to become more bullish.  The current atmosphere supports the uptrend of Bitcoin, even news about FUD had already silenced.  Then the upcoming implementation Bitcoin network upgrade seems to be the steroid for Bullish Bitcoin.  With these things currently roaming around the Bitcoin Atmosphere, we might see series of ATH breaking event this next days.

seems ATH will be touch again this month ,it's awesome,bitcoin is so strong that on one can beat it down, hope we can see $10000 soon.without china ,bitcoin can do even better .

Amazon is not accepting bitcoins, this rumor is based on air and nothing else. The day Amazon accepts bitcoin is the day we all become rich, but it is not happening anytime soon.

you are not going to become rich just because Amazon started accepting bitcoin. the price may rise but it won't be a gigantic one because these types of things don't magically create additional demand in short term. the rise will be the result of good news and the already existing demand buying more.
the effect of Amazon and others like it, are only in the long term and a slow rise up as the adoption grows slowly too.

There is no doubt that bitcoin is very bullish as of now, considering the fact that there are a lot of good news being brought out. There is amazon accepting bitcoins as payments, legalization of countries, such as india, malaysia and others, japan's support of 11 bitcoin exchanges and the most recent one, goldman sach's support of bitcoin, since they will be making their own exchange, let us also not forget dubai's own cryptocurrency, i think this support had given enough information to people that bitcoin is not a fraud. There will be more positive news regardig bitcoin and other cryptocurrency, we must all be ready for bitcoin to beat uts own record high of 5000 usd, we all know that there will be an upcoming fork and it will again give a lot of opportunities for investors, i think we can expect now before the end the year that bitcoin will give us a new record, and that is over 6000 usd or even much higher, since a lot of countries and internet based companies are accepting bitcoin, let us also not be so lax, since we all need to have a plan, and make sure that whenever the market is high or low, we still have winning a situtation. Hopefully with all this positive news, those bad mouthing  bitcoin will come a halt and realize that they cannot compete with bitcoin, since it is legal and a legitimate source of income.

For reaching $10.000 is a bit difficult to reach this month,the bitcoin need to multiply the price in 3 months which I think is impossible, the peakest price I think is $7000, but for sure we are entering bullish mode and to be honest we need all the help we need, if china joining it will help bitcoin price to go higher, but we still will doing fine without them