BTC on another breakout

[Koro-Sensei]

I’m not expert trader here but I like to share my technical analysis on you would love to hear your analysis regarding the new development on Bitcoin.

Based on fib retracement the 0.382 mark was already break if it continue to move upward it will certainly go up to 0.618 mark which have the equivalent of 14K USD. And if the resistance persists it will continue to break the 1 mark equivalent to 19K USD. What I’m seeing here is another breakout is for BTC. Guys like to know your thoughts about this.  

You can see that bitcoin prices started to rebound after touching $ 6000 last month. At present, bitcoin has recovered to $ 9800 and is still on the rise. I think the bitcoin price could come back to the $ 20000 level next month with a strong rebound as it is at the moment. So this is a great time to buy bitcoin.

I think it is still not recovering from the last damage on this year. We can say that it flucatuated aggressively this month that doesn't mean BTC can work all the way up. There is some probable issues on bitcoin i think trust issues maybe well just maybe though.

[btc_angela]

Nah, I think the decline is still brought about by some people that wanted to bring down the price of bitcoins. Right now we can't expect it to grown unless they had enough bitcoins they want to hold then they'll probably start pumping the price. But generally it should not last long as the cost of maintaining FUD is still expensive.

This recent decline has given the opportunity to many new investors to buy Bitcoins at cheaper prices. Once bad news about cryptos stops then we can see the price movement faster again until that these ups and downs are common. I think we are still not fully ready to reach even 15K mark soon.

Sad though to see that crypto is really suffering and continue to bleed at this very moment. But hey, its another opportunity to get it while its in dip and accumulate more bitcoin.

I think $12K is the mental barrier now. If I'm not mistaken, we have been trying to break that wall for the last week or so but it looks like we are not going to go there because a market correction occur. A bull run is needed, but I'm not hoping to see it happening anytime soon. Let's just hope though that we are going to bounce again and go above $10K and see how it goes.

[Semaj123]

Nah, I think the decline is still brought about by some people that wanted to bring down the price of bitcoins. Right now we can't expect it to grown unless they had enough bitcoins they want to hold then they'll probably start pumping the price. But generally it should not last long as the cost of maintaining FUD is still expensive.

This recent decline has given the opportunity to many new investors to buy Bitcoins at cheaper prices. Once bad news about cryptos stops then we can see the price movement faster again until that these ups and downs are common. I think we are still not fully ready to reach even 15K mark soon.

Sad though to see that crypto is really suffering and continue to bleed at this very moment. But hey, its another opportunity to get it while its in dip and accumulate more bitcoin.

I think $12K is the mental barrier now. If I'm not mistaken, we have been trying to break that wall for the last week or so but it looks like we are not going to go there because a market correction occur. A bull run is needed, but I'm not hoping to see it happening anytime soon. Let's just hope though that we are going to bounce again and go above $10K and see how it goes.

That's true, this is our opportunity to buy some btc while the price is reasonable. This year, the speculated price of btc is said to be 3x than the previous year. Which means that if we buy now, there is a possibility that we can gain huge amount of profit. We have to be patience and should always trust the power of btc.

[zmkriel]

I’m not expert trader here but I like to share my technical analysis on you would love to hear your analysis regarding the new development on Bitcoin.

Based on fib retracement the 0.382 mark was already break if it continue to move upward it will certainly go up to 0.618 mark which have the equivalent of 14K USD. And if the resistance persists it will continue to break the 1 mark equivalent to 19K USD. What I’m seeing here is another breakout is for BTC. Guys like to know your thoughts about this.  

I'm no expert trader myself, I just read countless threads in the speculation board and hear others with much Technicals as far as crypto is concern and they are now pointing to the same argument as yours, bitcoin price is going uptrend and may moved towards $12K-$14K but with some resistance.

I guess its really time that we see the market goes into a positive trend. I'm tired seeing red in the last couple of months. If you Technical Analysis is correct then we are going to be happy to see bitcoin marching towards a new all-time-high.

Same as you, i am i am no expert in trading aswell but very much willing to learn step by step. I just nortured my ideas by just reading threads and also by searching online and googling.

And yes breakout has been redundant which very normal and it gives way for the newbies in trading to buy cheaper coins to trade. Anyway bitcoin can easily recover some losses.

[Manuj]

It is better if you also include in your chart analysis the time target for this breakout of Bitcoin. So far, everything looks bad in the price movements of Bitcoin. Five days have passed since you made this analysis, we have yet to see the breakout. I hope it happens soon. My own rough target for Bitcoin within the month of February is only $12,000. That is a realistic goal already. But still there will be a very strong resistance in $11,000.

[Xenrise]

Yes and after a breakout there goes the big dip again that made bitcoin reach 9000 usd mark. The fud that actually existed affected bitcoin so bad. And I don't know why is that, bitcoin can't recover out of it.

[gabbie2010]

I enjoy trading, but I'm not an expert since I actually only started last year. I do read a lot, and I don't really enjoy indicators like fib levels. I prefer to use just price analysis, because those things are "written in stone", and you can't really make different interpretations on them. As for fib levels, and other indicators like that, if you put 4 analysts in a room, they will probably tell you different things.

For me bitcoin is probably on a changing trend, and it seems to be entering a bull trend again, but the price charts haven't confirmed it yet, so I will keep waiting for that. We seem to be building a support line on the $9500 mark, which is good, because the last line on support we had was at $7800. This will make trading easier, because I can now move my stop loss up. We need to see a break of $11200 in order to test the resistance at $13k. Hopefully, that will happen, and $11200 will be our new support level, and the bulls will have proven that they are back in control.

Unfortunately bitcoin couldn't break the resistance at $11200 which resulted to a pullback hence  btc price often defies  technical analysis, it's very obvious that the price of bitcoin tends to align with fundamental analysis I.e FUDs are the driving forces that tend to push the price breaking any resistance  or support.

[baconlike]

Today bitcoin prices have continued to fall below $ 10,000. It went against your expectations. I think the bitcoin market is hard to invest. Many predicted that the crypto market would break out in 2018. But in the first two months of 2018, almost all of the altcoins fell, including the BTC. In the future, I think the price of BTC is difficult to increase.

[keanne_isaac]

Today bitcoin prices have continued to fall below $ 10,000. It went against your expectations. I think the bitcoin market is hard to invest. Many predicted that the crypto market would break out in 2018. But in the first two months of 2018, almost all of the altcoins fell, including the BTC. In the future, I think the price of BTC is difficult to increase.

If you are following Bitcoin price history every first few months of the year Bitcoin is dropping though in the long run it recover. if it keep falling today it doesn't mean it will continue till end of the year. current market condition for crypto is bearish and once is over bullish may come in and that's the cycle of trading once goes up it also goes down to correct its price.

[wildflower18]

Yes and after a breakout there goes the big dip again that made bitcoin reach 9000 usd mark. The fud that actually existed affected bitcoin so bad. And I don't know why is that, bitcoin can't recover out of it.

Btc is on another breakout these days it can't fully recovered. Im not also an expert trader but the signals seems can't go into bullish trend. Yes fuds the reason's why others come into selling of their coins. Hoping this coming weeks we can see bitcoin price into bull trend.

[cryp24x]

Seeing Bitcoin on another dip today, kinda surprising because It hought bitcoin will be having a huge breakout and recover from its dip to at least $15k  this month.  I think the market is already bullish then all of a sudden price goes down.  I wonder what made the price crash this time.  Have not been updated since the other day so I guess I have to read news again and know the reason behind the current dip.

[danherbias07]

I dont know about the marks since I dont do technical analysis like that.
Yes I do look at the charts and I have only one conclusion for myself.
It always tells me that once bitcoin hits one number specially up, it always goes back there. It is like a rubber being pulled back up.
This falls is just something like a rest day for bitcoin, eventually something big will happen again and more investors will be coming to buy bitcoin making its price valuable again.

[Miracleismyidol]

I’m not expert trader here but I like to share my technical analysis on you would love to hear your analysis regarding the new development on Bitcoin.

Based on fib retracement the 0.382 mark was already break if it continue to move upward it will certainly go up to 0.618 mark which have the equivalent of 14K USD. And if the resistance persists it will continue to break the 1 mark equivalent to 19K USD. What I’m seeing here is another breakout is for BTC. Guys like to know your thoughts about this.  

I believe the price of bitcoin will be hard to come back in the coming days, it can be seen that yesterday after the price of bitcoin recovered to the $ 10400 level immediately fell sharply and broke the trend up. That suggests that the current trend of bitcoin is the price drop. I really doubt the future of bitcoin.

[wantjokull]

Intersting! Your break out line actually making some sense in todays date. The break out line is properly pointing towards the current fall in price and that is around 6.5K USD I believe. However we are still nearby 9.5 K USD so thats far from happening but it will happen for sure. The market trend is going downward only and as we know very well how people behave when such down slope starts arising, they panic! This will add another bit for the down slope and then it will get stabilised somewhere at your trend line. I am no expert in this as well but I know the analysis is getting match up with the current line of horizon. Good analysis we need to see some more often.

[Pamadar]

Seeing Bitcoin on another dip today, kinda surprising because It hought bitcoin will be having a huge breakout and recover from its dip to at least $15k  this month.  I think the market is already bullish then all of a sudden price goes down.  I wonder what made the price crash this time.  Have not been updated since the other day so I guess I have to read news again and know the reason behind the current dip.

Same thing that I thought, after seeing some bullish movements I was also expecting this to continue though I'm not expecting t to go that high right away but I was thinking to see 13k$ and got some steady value from there, as another month is approaching maybe its just giving us opportunity to
buy or wait even dipper to accumulate much more coins.

[Faruque312]

we can not predict about bitcoin price see now, its depend on market prices,like buy and sell order, if the buy order is big then sell order then we can understand btc price will up now. same in sell ordrs.

[skwal95]

IMO, going straight through 0.38 would have been the most bullish/improbable/dangerous scenario.

Now at 0.23 it could bounce to start a wave C in uptrend.

[Roachgo04]

we can not predict about bitcoin price see now, its depend on market prices,like buy and sell order, if the buy order is big then sell order then we can understand btc price will up now. same in sell ordrs.

If you truly devoted to study the technical analysis you can have a clue on what price level you are expecting for the next succeeding days or weeks. If you back read my comment last February 24, you can notice that the price range I was expecting was same as the performance last week [0.382 (11,556.26) and 0 (6,521.26)].

As of today the resistance level is at 11,700 USD while the support level is 9,200 USD. This is the next week trading range we are expecting. And if the price will suddenly move at 13K USD the price of bitcoin at the end of March is 14,500 USD. But if the price will not reach the 13K USD at the 2nd week of March the price of BTC at the end of the month is 12,500 USD.