Bitcoin Forum

Bitcoin has jumped to $10,500 as expected and looks set to test key resistance at $11,120 over the weekend with the daily chart indicators beginning to align in favor of the bulls.
The outlook as per the daily chart would turn bullish if BTC prints a UTC close above $11,120 on the back of high volumes.
Prices may pullback to key supports at $10,318 and $10,172 first, as the hourly chart is reporting bearish divergence of key indicators.
https://www.coindesk.com/bitcoin-may-be-building-for-a-price-move-to-11k

Well pretty great analysis mate, I'm not contradict but we know bitcoin is volatile harder to predict, hoping bitcoin start to go into bullish and hit 15,000$ before end of this month of august and the price rising upto hit the last all time high.

Nice analysis mate, and looks assertive because i just take a look to the price and it's $70 away from $11k, so, we can say it was a good weekend for bitcoin. Let's hope to see now a great week for it and hope to see it going up to $15k. That would be awesome.

I think bitcoin would get to 15k before this month draws it's curtain, this weekend was indeed a good one for the bitcoin, it kept increasing steadily and now we'll have to wait and see if it crosses 11k, I think if it does, we're going to see bitcoin rally to the 15k mark. This is a good sign that the market would be bearish come the last quarter of this year, let's hope it does.

It's obvious to be going there.

The price is $10,940 and that's few more dollars away though like the other times. It seems to be stopping there but at least we have a high support for now.

Certainly looks like it, doesn't it? And with the weekend bulls seemingly back, it's all up to Japan and China now to build up the momentum before Europe takes over.

If US then doesn't fall prey to profit taking, 11k and beyond are on the cards. Long way to go though, volumes still thin so shaky.

there is nothing "key" about $11,120 price. and as you can see today that price was broken in a very slow manner while price reached $11,670 and nothing change in the trend or the speed which indicates nobody cared about it and it was indeed "not key".
$11000 itself was somewhat of a "key" price where the speed up started and the real resistance which everyone is looking at is above $12k and mainly at the previous resistance meaning the $13k level.
anything else is just the mid term noise.

Trading is very subjective, so whatever might be a key support or resistance level to some people, might be just a fart from your point of view. That's the beauty of trading, we can put our money where our mouth is.

At the end of the day, actual key resistance zones (take for example $6000-$6500) can just as easily be turned into a fart as long as the demand is strong enough, which is exactly what we have seen happen this year.

People expected that $6000-$6500 would form a massive burden to the price because of how it offered a lot of support last year, but the price didn't even flinch and took that resistance out as if it wasn't ever anything of importance.

We've more than that by now and even keeps on moving.
Has it shows that Bitcoin couldn't be lying at low forever but it took sometimes to soar high. The market is really promising and it for sure that it will stand for it until the last minute of its existence. People have hopes and so we believe that we can see another great days happen in crypto.

$11770 Right now, we can say it's close to $12 but we are not sure about how much will be the top. Would be great to see $20k in the next days, but as i said before, i don't think it will go over $15k. Even that goal seems complex nowadays.

I agree totally, I think BTC will head to around 15k shortly. My prediction is for it to touch 35k this year. 

However BTC has shown time and again that it doesn't follow usual charting patterns, and leaves most TA experts underwater (cue: Tone Vays).

All we have to just keep in mind is that Bitcoin will at one point again have another new All-time high, that is for sure and there is nothing that is going to stop that, but right now, we just have to keep it that bitcoin has tried for the year and even if we keep seeing several corrections, we should not let it discourage.

As much as I am seriously hoping that new trend will continue, but we must still be faced with lots of corrections and at this point, I think it is better we just take our mind off the price now because this is what usually get people discouraged when their expectation is not met. As for me, I have invested whatever that I am capable of investing and hoping for the future to bring it to a very high value where I can have same story with those that invested at the early stage of bitcoin.

Bitcoin was able to get into $12k level and made it to $12,200. This starts to give me a chill and it's a normal sequence after pumping that much, there will be a pull back and it did back to $11,600 - $11,700.

It would be a surprise if it will reach $20,000 even before the end of the year.

This is not a surprise to me anymore, i expected this pump and even if there’s a pullback, i know bitcoin can still go up and make new ATH this year. I’m still bullish with bitcoin just like many hodlers, the price moves faster than any coins. Bitcoin makes a strong support, no turning back for a lower price.

Haven't seen the price hitting $12,300 though. But it's interesting to see the price just hovering @$11700 which mean that the price is tanking and it could be the start of another downfall. So let's see, last week was a good week for every one, but we all know that the price is very unpredictable so it could go to $15k or pull to $10k for all we know.

the $12300 that was hit today was only a small sign of the FOMO that is building up in the market again. i said this before many times that whenever we have a case like this days where price is going sideways, it builds a lot of FOMO potential in the market which would break out as soon as that sideways action ends.
obviously some will FOMO sooner which is why we see spikes such as this $12300 case. but it will be small since it is only a small percentage of traders who FOMO sooner.

For $20k, it's going to be a huge surprise for me because I'm expecting it to come by next year or so. I'm also optimistic that bitcoin will find it easy to reach a new all time high but I think it's still early to assume that we'll be there for this year.

We all hope that it would be the last time that we're going to see $9k and other lower price. I'm already good with what we see in the market but there's the excitement always getting me that bitcoin still has the best out of it.

Today the price reached $12200 and then dropped to $ 11600.

https://i.imgur.com/nUiPPOw.png

 I thought for a moment that I would see the price exceed $13000 and stay above $ 13000, but unfortunately the price then drops to $11600. It seems to me that it is being very difficult for the price to stay long in this $12000 zone


honestly I think it's impossible to see more than $ 20,000 this year

We are now at Q3 and it seems the price is not yet ready to move to $20,000 this time.
It even struggles to break the $14,000 and everyone was expecting to jump to $15,000.
And now, i am in doubt if Bitcoin would ever reach or even surpass the last ATH next year after the halving.

Likewise, it has to believe that bitcoin demand will be high in the 4th quarter just like it happen in previous years. Yes, we might see that it has a very slow market recovery and could be still in price struggles but then, Bitcoin has tried to face it and the community never give up of their support. It is a big help for Bitcoin to recover and seeing its price moving high.

We need a good price by the end of the year as we are entering in 2020 where halving is schedule.
The good price movement in the last quarter will be a great momentum moving next year and with that said, I'm very optimistic that this year we might at least get $15,000 or if we are too lucky we might have a bull run and will have a new ATH.

$15,000 could be hit next month for all we know. But as far as hitting a new all-time-high, I doubt that we can achieved this year. I guess the trade war between China-US has a significant effect, specially Yuan has been devalued in the last couple of days.

So couple with this political effect on the price and the drive to accumulate as much Bitcoin as we can prior to the halving, I think 2020 will be similar to 2017 bull-run, IMHO.

I think $20k is not "impossible", I mean surely it looks improbable right now but it looks not impossible. We have moved from 3400 dollars to over 11 thousand dollars already and I know it stayed there for over a month now and the price keeps going up and down but the reality is that another double is never out of question for bitcoin.

It may take months of stable price trend movements or it could just hectically move but in the end bitcoin doubling is never surprising. Moving 3-4k range to 13k was very unlikely if you asked people back than, if they checked the price fall from 20k to 6-8k range first than 3-4k range and you went up and asked them if they think price will be 13k they would say no, but we have seen it happen which means even though its unlikely at this time, its not impossible to hit 20k.

After hitting $12,200, it wen't back to $11,500 same day. Fortunately I was able to unload some of my coins that I bought last July 30 only at $9,905. I am still hoping that this trend will continue as my strategy is to buy some and sell some. 2% to 3% profits per day is good enough for me, not waiting for the bull run.

Bitcoin prices have successfully crossed $11k mark, and now prices seem to be firmly settled at $11.8k levels. If bitcoin prices are able to maintain these levels then, we may see the prices crossing $13k levels by the end of August. The best part is that this is not the bull rally yet, once bulls enter then it’s quiet possible to see $20k by the year end.

This was a correct assumption for sure but it wasn't like a marvelous one. We all know that bitcoin does pull back before it goes up again and we all know that from 9k-10k range to above 1kk is not really that shocking in bitcoin, it has happened before and it will probably happen again.

Let me create one shocking point like this for example "bitcoin will once again go under 11k and then it will move above 11k again", now does that sound any surprising to anyone? Would you be flabbergasted if bitcoin did that? I don't think so, hence I think this is a great topic because it hit the price on the nose but lets not get too excited and think that there are people who get to know the price exactly. If you want to be really good then just predict the exact date so we can actually trade accordingly.

Agree, if the price is able to be held firmly at a certain level or higher then it looks like it will guarantee a high rally when the bullish trend occurs. But if prices are not so strong at high levels and cannot be maintained or strong fluctuations, then it is difficult for the end of the year to reach that value.

You can arguably expect any price

Well, not literally any price in the range of, say, 0 and all the way up to 1M dollars but rather any price massively beyond what we can reasonably imagine and not be "flabbergasted" by our own imagination at that. The point is, whatever reasonable expectation of future price may turn up in one's mind, it will most likely be surpassed and with a vengeance at that. Yeah, it happened many times before and will happen again given enough time. Well, in fact, it doesn't even need "enough time" as it almost always happens sooner than expected or could be seriously expected (so even in the case of timing most expectations end up broken and by a substantial margin)

now it is proven that this speculation is true. the current price of bitcoin is really above $ 11k, and it is likely to break the $ 12k price in the near future. the price of bitcoin until now continues to grow, and it is very good. Many predictions say that the price of bitcoin will reach a high price this year, but I think that at the end of this year the price of bitcoin will approach the price of $ 15k.

Bitcoin had already visited that price in some exchanges before it goes down last 2017,  so I agree that it is not impossible to see $20k BTC at the end of this year.  There are still more than 4 months left for 2019, and the market sentiment is bullish and will probably more bullish once ber months comes in.

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Well, Bitcoin indeed goes back to $11k and possibly breach $12k and make it way up to $15k at the end of this month.  Some article also supported the prediction of $15k Bitcoin soon (https://www.cryptonewsz.com/bitcoin-price-likely-to-hit-15000-soon-predict-financial-experts/35690/).

this is a day trading strategy, and while it is good but it is only suitable for those who want to accumulate more fiat because in bitcoin, the price always goes up. so while you are trying to make these small profits from the short term fluctuations, at some point you will end up selling and waiting for the price to come back down to buy back but the price shoots up and you will have to buy at a loss (meaning buy less bitcoin that you could afford before). which is why it will only work if you mean to accumulate more fiat.

But this is definitely not what day trading is about

Day trading is not about selling and buying after reaching a certain percentage of upward or downward price change. Most importantly, it is about riding the wave which means trying to sell at its peak and buy at its bottom. Indeed, you can't always time the market in this way, but if you make a mistake and misjudge the market, you buy back or sell forth immediately (the latter is also known as a stop-loss)

In other words, day trading done right is more complicated or even sophisticated than most people think of it. What you refer to as a day trading strategy here is correctly called averaging up or down, but that's not day trading (read, it is a different approach to making profits)

We’ve crossed the $11,120 and had already hit above $11,900 yet dropped again this weekend so maybe we will test the 12,120$ now to see the bullishness of cryptocurrency market.though this is to low to expect because the 13$k resistance has been break this past quarter 2 .and it’s ok stay calm in this q3 because the main objective is to pump in the last quarter of this 2019 for the preparation to the 2020 halving of bitcoin in May 2020

Everyone is right about their prediction and bitcoin is certainly going to be at one point break some barriers that are greater than whatever price bitcoin is now, but breaking of those barriers is not always easy, just like the way it is easy to destroy a building within hours but hard to raise a building within hours, so it is very easy for the bears to come crumbling the price at any time.

We may think that the price will move above the current state, but in the end what we see is reversal and more declines. Corrections is very common this period and we should always prepare for more deep corrections at any point, but the good thing about corrections is that it will always give us the chance to buy more whenever the price dip, and I would not be discouraged even if the price go a little dipper.

I think we need to push for at least over 12k, it has been long enough that we haven't seen a bull hype and that is hurting the economy, whenever the price goes up and stays there it eventually falls back down because if it goes up and can't go up anymore there is no point of holding it on the same price so people just sell and buy back from lower, hence we need to keep it going a bit more.

The emotions and hype people have is that if it goes from 9k to 12k and stays there, they feel like that's the max cap we can reach and they sell at the "max" they feel like we reached, however if it goes from 9k to 10k than to 11k than to 12k than to 13k and continues after a while it becomes faster, like from 9k to 12k is harder than reaching from 12k to 15k and its a lot easier reaching 15k to 18k if you do it all at once, like if you try to do it together somehow. However when you give a break than it becomes harder and harder closer to impossible basically.

https://i.imgur.com/bmKmu8f.png

If it can break this daily trend then I'll believe it can hold 11k or higher.    We have not only the 50 day average price to get past and its in decline currently.   There is also a negative trend for over a week and of course the echos of the first decline from 13k to 9k that we've been running through.
  Its reasonable to speculate on getting to 11k but also thats the objective price and why speculators close out their long position especially when leveraged.   Hence it becomes a top or ceiling in formation.

Although I have my feet on the ground and know the price can go as low as $6800, I sincerely wish it goes above 12k. I will buy on both scenarios.

Lets hope it all goes well.

right now the panic is the dominant force in the market and that is pushing the price down until it reaches a point where the panic sellers no longer have any coins to sell so we can reverse back up and jump above $10k.
but one thing about this mode is that there is no way we can predict when it is going to end so we don't know how low it can go.