Bitcoin’s Price May Be Building for a Move Back Above $11K

[Botnake]

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.

[Kemarit]

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.

[el kaka22]

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.

[nydiacaskey01]

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.

[Juggy777]

This trend is actually redundant since the last price bounce. That's why many holders still hold their coins for good and expected bitcoin to move back towards $11k, and now we're into that price. At this stage, traders expected a lot of changes that could be surprising and spikes will potentially be winning at $13k-$14k quickly.

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.

[RealMalatesta]

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.

[hahay]

This trend is actually redundant since the last price bounce. That's why many holders still hold their coins for good and expected bitcoin to move back towards $11k, and now we're into that price. At this stage, traders expected a lot of changes that could be surprising and spikes will potentially be winning at $13k-$14k quickly.

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.

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.

[deisik]

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

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)

[Farma]

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.

[serjent05]

I think $20k is not "impossible", I mean surely it looks improbable right now but it looks not impossible.

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.


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.

[Herbert2020]

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.

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.

[deisik]

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.

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)

[peter0425]

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

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

[bitgolden]

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.

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.

[jostorres]

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.

[STT]

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.

[fabiorem]

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.

[pooya87]

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.