Bitcoin Forum

Bitcoin regained the $8,500 weekly level and the 20 week moving average, both of which paint a strong bullish picture. However, there was a significant rejection from $9k and there's striking similarities with a bearish fractal; read my full analysis below for thoughts and likely scenarios.

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-01-19-2020

slowly approaching prices above $ 9000, there are several factors where the price of bitcoin must be above that but don't have to rush to catch up, we are actually in a bullish market it's just that we need time slowly to rise above it and take the price even higher, 1W MACD will indeed enter the bullsih tren but the price drops below $ 9000 again because the trend for 1D is in a downtrend but it is only in a few days just waiting for the next week for another surprise, the market is good enough now prices will not fall drastically to take low to jump even higher in the future, that's my analysis  ;)

It looks like maybe bitcoins bull run is just starting, like we had a decent increase in price but all of the charts I have seen recently paints the same picture that price is just doing very well at the moment and has a big huge increase on the way. I wouldn't be shocked if we can actually hit over 15k+ before the halving starts, after that it could be prime for even more.

After all, there will be half less bitcoins printed every single day and that is a very important thing we need to put into calculation as well. 2020 looks like it will be the year of bitcoin for sure and everything looks like it will be for altcoins as well. You can literally check the YTD increase of all coins and almost all of them had an amazing year so far with no sign of stopping as well.

I'd honestly expect a sideways movement of BTC right now. The failed rally seemed to have hit BTC hard and is now continuing a passive movement/sideways movement. Without anything to push it, I'd say that it would take a few weeks before it rallies again. Seems like the FOMO has temporarily succumbed and hasn't made any more movement to push BTC.

Was there ever anything pushing the price up? Bitcoin just does what it wants and surprises people.

It should teach the altcoin moon boys a lesson to not start screaming ALTCOIN SEASON!!!! each time the price pumps. If you zoom out a bit, the macro picture hasn't really changed yet. It's the same capital that's being moved back and forth within the altcoin market that people get excited about. New capital entering is what you need for an altcoin season, not the capital that was in the ecosystem already.

that is not what a "significant rejection" looks like. all we had was a tiny drop after a big rise in a short time and things are moving ahead slowly because we are still in the early days of 2020 and things haven't warmed up yet not to mention that over the past week there has been a lot of FUD trying to manipulate the price and prolong the accumulation stage for no reason.

ps. seems like some people are getting excited about altcoins by looking at their USD price. you should take a look at the real price of altcoins which is in BTC to see what is really going on...