Bitcoin Forum

https://www.coindesk.com/bitcoin-resistance-rises-8460-unconvincing-breakout/

solid technical analysis on what's going on currently in crypto for those that are wondering what's going on.

Love how almost all of these always end on 'either A or B will likely happen next' and they always just happen to be the two options of either side. All this shows is there was some resistance around 8400 because it was hit a few days ago and then again earlier today. Any idiot with eyes can figure that out by looking at a graph.

Welp, that would really be the case. At the end of the day, it's just up or down in the crypto markets, even in the traditional stock markets and bond markets. Right now we've certainly went past the $8500 resistance and are now approaching very closely to $9000, with the current price sitting @ $8850 at the time of this writing. If we managed to break $9000 sooner, I'll expect that we'd be targeting higher highs and retraces here and there. It could already mean a bull reversal is happening but again, it's always between A or B in the cryptomarkets.

I was waiting for some self-proclaimed trading "expert" to give his predictions about the price just by looking at the charts.Is this going to be "dead cat bounce","head and shoulders" or some new weird chart name?
Anyway,I think that such Coindesk posts are made just to get some traffic to the article itself,coming from some newbie traders,who want easy predictions.Traffic+Ad revenue,that`s all.I can`t find any real value in this chart analysis.

The return to the bull race is on a slow pace and it needs to buck up right now or else it will be very late. But of course the technical analysis by coindesk shows us in concrete terms what has been happening in the market over a past few days. And there are always two options that we have, either A or B in the crypto market.

Maybe the recovery of the market happens fast enough for all the members of the community to regain their lost faith in the market.

The market tiurning green is a sign of more demand of the bitcoin in the coming days in the hope of more pprofit prospects of the people.

solid technical analysis ? i am wonding how many chart that they have been made to get this one.
i never believe something like 'solid technical analysis' or something like that because it will only a joke in front of Bitcoin.
when people's believe it will go up and posting their chart on many social media,
at that time Bitcoin will smashes it and shows us what it can do.
always do the opposite thing from what other people say is a key in cryptocurrency,

I don't disagree with what you're saying, it just always goes along the lines of 'if this positive thing happens it normally indicates a positive outlook' and then vice versa. I'd be intrigued when there's some analysis that says x will happen because of abc, at least then it is making a bold claim with reasoning, even if it is wrong.


I'd like to speculate the opposite as it's actually just some newbies way of using the articles to get posts and potentially look like they're behind this self claimed 'analysis'

If you want solid TA, don't look to Coindesk. The breakout was pretty damn convincing $1,500 (20%) ago when I pointed out the new bull trend (https://bitcointalk.org/index.php?topic=3133620.msg34525469#msg34525469).

It's not a surprise that we pulled back here. There was a major bearish consolidation here a month ago:
https://i.imgur.com/d3S6vtD.png

Price action is looking healthy though. I don't see any reason to stray from my bullish calls on the 1-week and the 1-day time frames yet.

In fact, I'm glad to see that bears are still in disbelief. ;)

When ever you think worst is behind you, think again. There is always chance for something as bad or even worst that could happen again. I guess its always like that in crypto world, things can go both ways. But I think that things are going to better. For some reason I am more optimistic than Omkar Godbole, and believe that price is in recovery state. But I'm no expert, so I should wait and watch.