Bitcoin Forum

Within the last few hours, Bitcoin has gone up $500 and still seems to be going up. Anyone have any speculation as to why? Looking at the 1day chart, I don't see any indication that the price would be going up today. In fact, it looks like it should be going down.. But, I'm pretty happy as I've just acquired some within the last day or two. That investment is already paying off.

Lots of charts flying around lately which do shows some technicals that we might able to go down even further but the price is going into the opposite way.
Reasons? No one knows but these movements can be utilize up to generate some profits if you do short trades.
Usually i do always have the time to read up WO which is entertaining when it comes to Bitcoin price talks https://bitcointalk.org/index.php?topic=178336.0

If you are thinking about Bitcoin had made a reversal then think again since this might just be a bull trap and  some whales might just be pumping the market. I would still observe the market and see where will Bitcoin will go since 8,266$ isn't on any support level right and the next known support is around 8,500$+. And just by looking at the chary now its obvious that we are still in a bearish momentum any hints of a bull run are highly unlikely to happen.

Sellers look exhausted. There was an attempt to push new lows last night, but it was a weak, low volume dump. The subsequent reaction from bulls suggests it's at least time for a decent bounce, if not more.

If we get one more spike upwards towards $8,600 before a significant pullback, then we'll have impulsive form. That would suggest more upside is on the way. Then we can target the low-mid $9,000s or higher.

Come on now. You should know this for now. It's most likely just the typical price volatility of bitcoin(and other cryptocurrencies). Not every price movement needs to have a reason for it to move(besides the typical supply and demand), and also, don't look at TA as something that could predict price movements. TA surely cant predict people's emotions can it? Only use TA for taking a look at odds, and risk:reward ratios, not as something to use to predict markets.

https://cdn1.imggmi.com/uploads/2019/9/30/f77fcb935d3c7ff11f259619c2dd6e8c-full.png

Here is the snippet of what I posted yesterday. We were on the descending triangle support on the 4h chart after which we went up to breaking the triangle upwards. We can see the current candle down and next 3-4 candles can be pretty bullish. Also looks like we are making a double bottom on the support which means possible targets could be around 8900-9000 area which is the calculated as a distance from neckline to bottom stretched upwards on the neckline. Also going above 9k BTC could regain some bullish momentum on daily chart too.

This is yesterday's chart after BTC experienced a MA break on TF1W (Long Red Candle) and will bounce back, so I suggest buying gradually over next few days. And pump this time there is no big news that affects because it is purely that the trade is in oversold point.

https://i.imgur.com/izcyPjY.jpg


Yeah right, I think bitcoin has indeed been oversold yesterday and that was lowest price I saw in a few weeks ago. From my analysis this time, bitcoin will pump up to $9,000+, so this time it's quite safe to buy indeed when viewed from TA.

The bitcoin price is going upward because there's slight change in the market which shows a strong sign of recovery. We don't know whether this is for long term but we all want bitcoin price to hit roof soon.

Nice, thank you for this post. I thought it might have been overselling or perhaps someone bought a pretty large amount and the rest were just fear of missing out. But, the 24 hour chart didn't look like it was that oversold yesterday. The reason I made this post was to hopefully see if someone had an explanation for it. It wouldn't hurt to try and be able to pick up on things like this.

You are welcome! It did look in the oversold zone yesterday but being in an oversold area solely doesn't means that bullish momentum can arrive you need to find some sort of divergence between the chart & the RSI which happened when RSI took support at 30 level which is the edge of oversold zone this signifies change in trend from bearish to sideways. Moreover creation of pattern further validates bullish reversal.Don't rely on it if you are getting in for a long term trade. It's just a sign of some side ways movement on the 4 hour chart, daily still looks pretty bearish to me.

It's funny if you think about how hard we have gone down in the last couple of weeks and how silent people were, but when the price shows an increase of a few percent (which is peanuts) people wake up to get excited.

TA is useful in the sense that you can seperate bear from bull markets, and it seems that we aren't very far from making lower lows in the coming days. People can cheer themselves up as much as they want, but the direction is down.

Overall, just like how we don't go up in a straight line, we don't go down in a straight line-- there will be bounces from time to time, but as long as the trend is down, these bounces will be sold into heavily.

The spike the OP pointed out looks like the right leg of a W-bottom. I'm not really excited, but it represents a trade opportunity. For those looking to sell or re-short the bounce, it's worth noting. Even in a bear market, a bounce to the low $9,000s is likely.

Have to think for the start of the bull run? It was rallying well by now and I have to think that it keeps soaring until halving.
Hope this will takes a lead of the entire market to bounce back and encourage more investors to reinvest again. And we are in the 4th quarter already, much exciting to see how the market reacts after Bitcoin change its course back high again.

This is expected that bitcoin will bounce the price in the market. Based on the TA above it shows that it will hit more than $9k within this week. I noticed that every time bitcoin price sharply down it has always an opposite reaction and now rapidly goes up and look like after a month there is another correction. However, I don't bother my mind to create a different technical analysis. Instead, I will wait for the result and be prepared.

It's about time for a recovery. The dump from 10k was very brutal. I think this is a relief rally for the bulls. Bitcoin was trading in range for a little over a month. And when the range broke, It went downhill. Despite the minor price recovery today, I'm not convinced that we've hit the bottom of the current downtrend yet. I expect more dips in the next couple of days (or weeks). But well, I can't predict the future.

Glad to know you're on the upside now. But really, who can tell whats next with bitcoin, hasn't it always been this roller coaster of a ride, never knowing or expecting when you'll be on top or at the bottom. I've learned to desensitize myself to fluctuations like these and now only trade up or average down when there are clear headline news that indicate massive price movement (like bitcoin etf decisions or the "halvening").

He did rise slightly, just yesterday he was below 8000 $ according to today's coinmarketcap at 8366 $ hopefully since it's been a bit of a gradual bitcoin rise in the market, but I can say it's still a good opportunity to buy bitcoin in market as he goes up, just keep accumulating while he is low.

day trading is the only key on this kind of performance of bitcoin mate..  And it's very risky if you let your money keep rotating within because you know sometimes it fluctuate So hard. so much better to monitor the chart  and do day trading in order to gain profits while the direction of bitcoin still uncertain.  

I dont recall theres a specific indications if the price goes up or down?
The answer to your question was already in the last part of your statement. We dont want to confuse ourselves with the hype news, TA's, and other predictions about the prices because they arent accurate, and it wont gonna be effective if people wont buy the news. The movement of the price doesnt depend on those I have mentioned, but it all depend on us (investors/traders). Simply buy and sell, supply and demand that causes the price movements.

Yes, I see that too. In the exchange, bitcoin price becomes stronger than a few days, and the candle has back to the green candle. I hope that could attract more investors to invest in bitcoin so that will push the price to a higher rate. We could see it might have a chance to rise for more than $8500 in this week or even higher, especially if there is any positive reaction from traders at the market. If that happens, then we will see a rise of bitcoin again this month.

The psychology of investors today is really good and they tend to buy more and that makes the price of BTC constantly changes in price. I think the price of BTC is still very cheap now in this market and if you have a reasonable investment strategy, this investment will bring huge profits. According to my statistics, up to 80% of people will tend to hold Bitcoin at $8000 because this is the cheapest price of this year and if the market goes up, anything can happen.

There's a rainbow always after the rain and  It is really good to see that the market is in green again after the deep downfall but i think it is to early to conclude as we don't know that this might just a temporary rise up in which a big whales trap so better if we just observe the market movement for a while before we jump into conclusion.

I never surprising to see the market situation because I know that it will always have a surge price after having a small correction.
Big whales have been tired on monitoring and manipulating the market there are sometimes they let the market grow and back again when they are ready. The fact that only those strong hand will have a good profit and those panic seller will suffer and regret when they let their emotion not control.

There are no movement without reason, there may be some reasons that most of us do not know it. As we all know entering the market with a large amount can also affect the price. I can not say for sure, but if there is no reason we can see, then there is reason but we can not see. On the other hand the increase is most important, the reason is already easy to find.

Well, that is some good decision making you have done there.

Too much noise about this price fluctuation that is going too fast by hundreds of dollars.
Because of that even in my dream it happened.
Freaking price went 9k and I refresh the website it became 10k in a sudden. ;D
I guess I need to step back a little into reading the price charts and speculations.
It aint good when it goes to your dreams too.

We wont really able to hit up a conclusion yet market is always been unpredictable and volatile.Speculations would continue like forever yet we wont know
on where would prices would go.For a typical crypto market there would always be a rise after such slump of price and thats the basic of a market and this
is where traders do make money.It will just depend on when you do get in and get out and some are just playing out safe by simply long term hodling.

Yes, this morning Bitcoin did go up a few hundred dollars. It's great, and hopefully it continues growing at this rate. Everyone get ready for Moon blast off.

Price of Bitcoin recovering after a few days of nothing but price dropping is not new. I would be more surprise if the trend continues like in the span of 4 weeks the price did not recover even for at least 3% to 5%. But saying Bitcoin is going up “rapidly” that’s an overstatement I guess. It’s not something new.

Although the growth over the past 2 days is quite good, it is still below $ 10k, and the market is still in downtrend. We should be careful because these days, I see that quite a few transactions move bitcoin to the floor of some sharks. I believe this will be another big dump. We should take profits now and prepare for a new bottom.

Although bitcoin is at the downtrend, the response in the market was good, and if it continues, I think we will see another high price this week. But there will be different if somehow, the price is going down again, we will get a delay to see the increase in the price. I hope that nothing bad happens this week so the price can still increase. I believe that bitcoin can be back to $10k because that is the price that bitcoin needs to break so when the price can do that, it will have a big chance to break another highest price.

We'll really reach that point before the year ends or even this month. Bitcoin sometimes shows the unexpected. It can rise $1k in a day or the otherwise, only whale traders will decide that. One thing for sure that bitcoin may hit new ATH next year because halving event will happen again.

We have that participation and we are all the factors of its change. However, the positive looks of halving may help this thing out but not to expect a big market price rally. And we believe that $10k is not quite hard to achieve cause we have it often time.
Anyway, we can't just close any conclusion and to see what this halving can do/help to uplift the market condition.

What has happened with Bitcoin's price is a pretty normal bouncing movement after a considerably long fall. Nice for you to have grabbed the price drop and bought some. That should also be the mentality of the rest. Sadly, many are feeling panic instead of joy for having the opportunity to buy Bitcoin with a price discount.

Right at this very moment however, the prices are red once again. This means that the $500 rise of Bitcoin's price is a normal movement. If it went straight up to $2,000 increase only then could we start to wonder. 

The thing is, whenever I made this post, the $500 price rise was in a matter of just a couple of hours and didn't look like it was going to stop anytime soon. It was still going up whenever I posted. I had been looking at the 1 day charts, and it looked like the price was going to keep going down for a few more days. I must say, it was a pleasant surprise. I was really just hoping someone would come point out some indicator of it and they did. We can all always learn a little more

But if see today price it decreased the value, I also noticed that price last 2 days ago rised and hope that to continue but it not happen because the price decrease but the good with that is we are still in the $8000 and I think for now this is the lowest value for this month or this is barrier and I hope to rise more than value now of the bitcoin and for sure it happen this coming remaining months of the year 2019.

It's been a year since I heard bitcoin will hit new ATH but that's not happening in reality. There's an attempt of higher bounces and spikes of bitcoin price a few months ago and stabilized at $10k and up which seemed so hard to move towards the rising trend. Let's don't expect that new ATH to show up next year, much better if we prepare ourselves for an unexpected situation that could initiate randomly.

It seems to me that it makes no sense to check the cryptocurrency rate daily, especially if you are not involved in daily trading.  The fact is that long-term investments in Bitcoin will still turn out to be successful, despite what happens with the Bitcoin exchange rate.  Today, such a tendency is visible in the world that big business begins to be interested in cryptocurrency, for making payments that they themselves can control without the influence of the banking sector.  And this in any case will affect further price increases.

Was there any tangible reason as to why bitcoin made the recent decline, since we don’t know the reason why there was a decline, I don’t expect that we will know the reason why it will recover again. We have thousands of people from every part of the world that are investing in bitcoin daily and also pulling out funds to use for certain purposes, so we may not know that particular factor that will be responsible for a particular act off bitcoin at a certain time.

We just need to understand that this is the behavior of bitcoin and stop looking for answers that we may never get, if you see people telling you they know the reason, they are just speculating also and  will never know exactly what caused the dip and also never know what is causing the increase.

That is true, do not give up stay patience and be calm, up and down movement of bitcoin is part of the market value volality as decentralized crypto currency. So yeah keep eyes monitor and observes the flows of movement it's possible time for the another bull run start before end pf this year.

There is a rapid change in the price most of the time and when the price of bitcoin went down a lot in the past few days i did not expect the market to recover this fast but the price recovered as people are investing during that time and taking use of the opportunity to invest when ever the price goes down and that is what we are seeing now, let us see how the market will perform in the next few weeks.

As I see, Bitcoin, as well as other cryptocurrencies, have started their swinging period. This is the most difficult time for those, who cannot decide what to do - to invest in cryptocurrency more or to sell the actives when the price will slightly go up again. However, experts believe that Bitcoin might reach 12-13 thousand, although the 2017 situation is not expected anymore.

In these few days, I see bitcoin price seems to be stable for a while. The price is not down deeper than $8k or not going up higher than $8300, and that makes some altcoin can move to a higher rate. And now, we are at the end of this weekend. If the situations are like this, I guess that at the end of this week, some altcoin will follow the other to break the higher price. I wonder if the bitcoin price can break $8500 or not in the next weeks because once that happens, we will go to break $9k again, and it will still increase to a higher price.

But i was sure about it I was well aware of nature of bitcoin. I know when it falls then it recovers too. We should believe in potential of bitcoin and support it. Never give up market just falls temporary but then again rise. So I expect even more than this that price of Altcoins will go higher than this till end of 2019 market will be fine.

I think this depends on the market because we can't know for sure what price will be reached but if you choose to invest at $8200 then this will be the safest investment. I don't dare to think too much about this market because the price of Bitcoin has been constantly volatile recently and completely beyond my prediction. In my opinion now is the time for you to decide to take the risk again as this may be the cheapest price this year.