Bitcoin Forum

As this may seem like a RANDOM thought from a newbie, it's rather a Technical-based view.

https://www.tradingview.com/chart/BTCUSDT/4oFVgYUy-BTC-20-K-coming-soon/




Looking at the daily chart of BTC (log scale ) you can see that we broke out of a downtrend that being holding the price from ATH.

not only that. we broke another trend line which can potentially be our BASE for the next ride.



*** before you go ahead and argue about my charting check my prev predictions/analysis :D.

I think that $6k is definitely close to the bottom of this bear market, if not the bottom.

However, I don't think that this bearishness is quite over yet. I just don't see bitcoin breaking the all time high this year, because of the fact that the year hasn't been off to a great start, and a correction is most likely going to come soon for the rally that's pushing the price up right now.

Realistically I can say that bitcoin may once again establish $10k as support this year, but I definitely wouldn't jump to conclusions by saying that an all time high is going to happen within 2-3 months. I just don't see that kind of momentum in the markets to push it up like that.

In my opinion it is not impossible to reach 20k, it is not hard to grab it. Of course it needs to pump by the whales. It needs to wait for some times to see it in the market.

It's nice to see a newbie do a technical analysis of Bitcoin price but as of the moment I don't see btc breaking all time high in the next 6 months at least. I think it is still too early to say that btc will reach 20,000$ this year, I believe we would only see it land on a decent price(specifically it will sit on the average price based from the past bullish and bearish trends).

Bitcoin is the best ever Cryptocurrency so it will reach 20k USD in June or July because every year June month is huge pump in the market so it will going to peak in soon. If you don't believe this coin it will never support to you so think matured in future then only you are survive in Crypto platform. Many whales are doing some work in this coin so it will raise and fall but current situation and future possibilities are favour by Bitcoin.

I don't think that the price could hit $20k value, for now, the possibilities that could happen is $10k if there's another great news maybe bitcoin could increase again higher than $10k. remember that Google adds a new policy about cryptocurrency and other social media because of many scam projects.

If ICO's and altcoin will be allowed to advertise again without restriction expect for the price could reach again near $20k Because this is the reason why the price last year hits near $20k

Yeah, I agree it's too early right now to say that the price will reach $20k.

I according to last year the price increases around November and December so, I think the price could increase again around that months, but no assurance that the price will reach $20k if the price these coming months stays above $10k expect that the price will nearly reach $20k value. It's just my own speculation, but if it fails maybe the $20k value will reach after the block halving again.

These charts always amaze me. I see your technical trend lines. I see the $20,000 mark squarely aligned with the green line. I also see the low $4000s squarely aligned with the red line over the same time frame.

So what is it that drives the propensity for the trend to be up vs. down?

It requires just one single dump to make people's sentiment change from positive to negative. It could be just a manipulation attempt or an actual funded dump due to insider trading. What I try to say is that we shouldn't really focus on levels too far ahead of the current trend, especially so with how things are still somewhat the same as how they were a few weeks ago. We need the market to comfortably hover over levels a notch or two above the $10,000 level. If we do happen to face a dump at that time, it won't directly push the market down to a point people's sentiment changes instantly. We need more space between crucial support levels and the latest exchange rate, all to be able to comfortable catch up larger dumps.

This is the title of your thread:


current bitcoin price: $9 019,55   

Bitcoin price is struggling to stay in the $ 9000 and you are being very optimistic to the point of saying that we will go to $ 20,000, is good to be optimistic, but in this case we have reasons to be worried because things are very different from last year where prices had astronomical increases. this year things are very different


truth and with that we would see again the $ 6000, that's why I'm not very optimistic, unless I see more than $ 12000

TA isn't always correct, and can be presented in a multitude of ways to back up your argument. That's why I don't really like technical analysis that much, especially when you're talking about the long term trend which will be influenced more by bitcoin adoption, media attention, and things like that.

$20k is a possibility, but it would require something really positive to happen.

Right now, we're on a pretty big roller-coaster ride with bitcoin heading north for 2 weeks in a row and realizing incredible gains. Don't get me wrong, but this has to adjust down sooner or later, and it's probably going to come soon. I believe the markets are still not ready for another bull market for now, it'll take way more than just a few months for markets to consolidate, let alone hit $20k or another all time high imho.

Bitcoin is struggling to even reach 10k and 12k is not likely.  20K is a dream.  But we shall see. 

Guys why does 20K seems like an impossible thing to you ?  ???

The fact that the crypto-market is very small (way less than 1 Trillion $ in total ,420 Billion as for right now) makes it very easy to move to both directions in no time, some traders compare crypto to forex which is wrong, there is well over 5 Trillion $ trading volume only.

just remember that !

- BTC went from 6K to 9.5 K  in less than 18 days  this month !!! ( well over 40% increase )
- Last year btc went from 5k to 20K in 35 days ( 250% increase)


Now fundamentals are a major factor and everything can change at any second. but technically speaking we broke a major down trend, we building a new support/up trend which has been tested couple times and proven to be strong enough. the biggest obstacle would be the double top at 11-12 K. it may take weeks to break that but the road from 12 K to 20 K is going to be much smoother.


as much as i want crpyto to MOON in no time, i would love to see a slow and steady growth.

you do realize that bulls have been sprinting for  like  3 weeks don't you !? it is very normal for the market to rest and correct even to mid 8k.

as for the 6K i do not see a Technical-reason for that to happen. we have built some nice support areas above 7K and it won't be easy going to 6K again.

as for the 12K point , you are 100% right. most people are waiting for that break, that's why  i said when we break 12K then 20K will come in no time.

anyway let us wait and see what's up! . my SL is at 8400$

100% correct, but also it requires just one single pump to make people's sentiment change from negative to positive. just like last year end.

there is a huge chance that whales may dump the market at any time, that's why we never trade without a SL. but in my opinion they have already sharked out so many weak hands and they want to sell at much higher prices. i wouldn't be surprised if the price dumps again at 11K levels.  but really this market has much much much more room to the upside than to the downside.

a simple zoom out on the chart can tell us what direction is the market going.

Most of them are at a ease of mind, it's just that panic sellers that are not at ease. They don't care, bother or listen to what anyone says. Their stupidity is awesome.
20k is not coming soon, we haven't even gotten over the bearish trend yet. To reach 20k, we need to reach atleast 10k first and for that we need to be in a bullish trend. So no.

20K maybe far but not a dream. i learned this the hard way when i spent well over 50 BTC on " Silk Road " a few years ago when BTC was worth nothing !.

Maybe for now bitcoin still struggling, but bitcoin ever nearly touched 20k, so I think it is possible to reach 20k, give some times and we will see btc rising, last year nobody expect btc rise so high but it still happened, so maybe this year it will happened again

Bitcoin is struggling but possible will hit $20k in the few months time. It's not a dream as we already seen btc in all time high. Maybe this june or july onwards we can see road to $20k for btc.

don't see why OP says $20k is coming soon (says mid july in the text underneath that graph). The blue line on the chart is under $14k by mid-July. No reason to think it'll hit $20k this summer.

I do generally agree with that technical analysis though. We are clearly out of the bear market now and heading back up. We just got the expected correction back to 8000s after rising $3000 in just a couple weeks. Bitcoin will be taking on $10k in early May. I think that blue line looks about right, but it doesn't say $20k is coming soon, that blue line probably hits $20k sometime this Fall, which sounds about right.

I expect about a roughly 6 month build-up period (which just started earlier this month) to get back near $20k before things start getting hyped again and the price begins its launch off like we had in May of last year. It takes time to recover from a big crash and consolidate and slowly work back up before things get crazy again. Six months feels like roughly the right amount of time. By end of year good chance to be over $20k considering that financial institutions are apparently getting ready to jump into the market later this year, that could very well be the catalyst that starts the next run to $50k-$100k territory.

Lol. There's been so many chart analysis in the past especially when btc is moving up or down. 20k is a very achievable dream even for this year. We're just entering may and yet we're already half way to 20k so there's really a lot of things to be positive about. But of course, you should be well aware that in a volatile market, anything can happen

I do not think it is impossible at all to reach 20k $,the only problem is how do you define "soon"?

Based on last year BTC has a much better starting point for new ATH this year-as you say it take only 35 days from 5k$ to 20k$ and now we have 7 months by the end of this year and current price above 9k $ level.The real question is whether the last year scenario can be repeated,or people will be a bit more cautious with their money.

I personally expect at least 20k $ by the end of this year,but it is realistic to expect even more.

you see that BTC grows by 1000$ in no time ?  it's not hard for BTC to make it to 20K by the time i expect it to, it only takes about another 400B in total market cap to bring btc to that level, 400B is nothing. the only obestecle ahead is the double top at the 11000-12000$ . once we break that i expect we would see a crazy rally just like last year end.

don't worry FOMO will get us there

To get back to ATH this year Bitcoin has almost 8 months to double. Good odds of that! A 9% monthly growth rate from now would have Bitcoin back to ATH's just under $20k by end of the year. That's extremely doable.

There are  lots of chances for bitcoin to reach 20k$ . I mean he already reached that value last year , that should mean he will reach that value again eventually , right ? Lately bitcoin has started to grow , to go up and reach more thgen 10k$ . He still didnt passed that value but he will pass it very soon.

The problem is that Bitcoin is so volatile and things are way unpredictable. Charts or patterns are not usually how things are ending up. I do believe that the market value of Bitcoin will fully recover eventually but things won't happen as planned because of the volatility in the market. Sudden changes are always expected and that is what making the growth in the market, complex.

A lot of changes may happen since value is very unpredictable. A good chances actually to reach $20k but no one knows. I come to see the chart and I am positive it will occur so to ease our mind could help on holding.

You do not have to be so fascinated with that one time 1000$ jump which has happened recently- BTC is volatile and it can move in both direction.Problem with your speculation is that you say "soon", so I ask you how you define that-days,weeks,months?

By the way 400 billion $ is not "nothing" as you say,it is still a lot of money.There are still many obstacles on the way up,it will not be easy - you should take into consideration that many are burned on last correction.I'm not saying that this year we should not be expected new ATH,but it could be with a certain dose of caution from investors.

There will be more "small corrections" this year because people learned that it can fall any time so they will sell a portion every time Bitcoin will be rising for more weeks successively because they will be afraid of another crash like it happened in January and later.
So this year it will take more time to get back to $20,000.

If you look at OP's log chart you will see that price growth from mid-September ($3500) till mid-December 2017 ($20,000) was very steep. There was only one notable correction in mid-November, other than that, almost all days were green. This is simply not sustainable. The 2018 bull season that started recently will not be as steep. My prediction is that trend line will be similar to downward trend line of early 2018 bear season, except it will be upward of course. So $20k in September or October 2018.

The support we are having is a positive thing, but any negative news could impact the market and the price will go down, since the price rally is merely a speculation, anything can happen when there is a negative news.

Right now there is nothing to suggest that the price will go down, MtGox team is waiting to liquidate their bitcoin when the price rises, so anything is possible.

Once the price crosses $10k we might see the price moving to $15k until there is a massive sell off, as mentioned earlier i am sure MtGox team will liquidate their coins when the price reaches their target and putting a stop loss in this market is a bit foolish unless you are holding the coin at a massive profit.

In as much as you did not advice us to buy I think we are to buying bitcoin and others good coins now if we want to really make good profits from this market. Everything is set for bullish trend from the foregoing chart and I also learned something from this your analysis that I am going to add into my future trading decision.

OP, don't be too excited. Bitcoin price is just struggling to maintain the price of $9,000 and you are already becoming excited. Bear in mind that the price of cryptocurrency is most times, unpredictable. It's not that the price of 20k is not possible again, but it will take a gradual process for it to reach there. And when it does, it will be unstopped till it reaches above the price of 25k. This is personally my predictions.

Well that's almost the same as op making such predictions. There are several scenarios that could happen in the next couple of months and we also have to consider that not everything that will happen would be positive. Ypu're going to save yourself from disappointment if you don't expect certain amounts from bitcoin