Why is nobody talking about this major resistance?

[justdimin]

I am always laughing my way to bank towards people who have always hoped that bitcoin would go down or calculated that bitcoin would go down and it literally goes up right afterwards. Yesterday there was a lot of bears like OP who got happy for a second and the support level for $5.5k increased x2 overnight because there was a lot of people who wanted to buy at that level and they wanted it to drop that much, it bottomed out at $6.5k and then went above $7k once again and right now peaked.

This shows everyone that right now economy is not as bad as you might imagine and there are people who are still buying bitcoin no matter what. Hell I think there are ton of people who used the $1.2k USA government gave them to buy bitcoin as well and that is something to consider during this increasing numbers.

[KTChampions]

The problem with resistance lines is that it is rather a statistical phenomenon. They change their levels and ordinary users will know about it when this shift has already occurred. If we recall such phenomena as a false breakdown, then I do not know how knowledge of these levels can help me in trading 

[BChydro]

The problem with resistance lines is that it is rather a statistical phenomenon. They change their levels and ordinary users will know about it when this shift has already occurred. If we recall such phenomena as a false breakdown, then I do not know how knowledge of these levels can help me in trading 

It is a statistical phenomenon but you need investors too during that period so that the market will retain the position or go above or see a minor correction, today the market went down and i was expecting a minor correction because of the resistance and considering the global situation i did not expect the market to recover so fast, in short these are base lines for us to anticipate the market to go in either directions while the whales will always have the last laugh.

[STT]

Whales as an idea as a movement is vastly over rated, a proper market will always have an audience far larger then some individuals.   The idea of whales is to humanise the market moves, there is no secret puppet master its not that controlled as we saw the price will drop when people panic and vice versa it can spike.

Its not done that much interesting, we barely moved past the 50 day average.   See if it can hold above 7000 for 24 hours, a proper daily bar in that area as confirmation.
The bottom pricing was the monthly average, it moved down in some attempt downwards but was quickly rejected.   Any discussion on levels is just possibilities, I find it helps to navigate or recognise the path we have taken better then it just being as random as a plate of spaghetti.    

[KTChampions]

The problem with resistance lines is that it is rather a statistical phenomenon. They change their levels and ordinary users will know about it when this shift has already occurred. If we recall such phenomena as a false breakdown, then I do not know how knowledge of these levels can help me in trading 

It is a statistical phenomenon but you need investors too during that period so that the market will retain the position or go above or see a minor correction, today the market went down and i was expecting a minor correction because of the resistance and considering the global situation i did not expect the market to recover so fast, in short these are base lines for us to anticipate the market to go in either directions while the whales will always have the last laugh.

If the correction did not happen and there would be further growth, then this would be a "breakdown of the resistance line." If growth occurs, but then rolls back then it will be a “false breakdown”. If growth does not happen at all, then this will be the usual action of the resistance line. In any case, we have some kind of explanation, only the meaning in it is quite small. And as you rightly noted, the whales laugh at such reasonings of ordinary traders.

[Kelvinid]

We're getting back to $7k again and hoping this would start for a strong market comeback. We are in less than a month before Halving and the resistance isn't really strong. Having $7k these days isn't to be considered enough and it may be possible there is a dump happen again as what it happens last week. Thinking about the Bullish market is a little bit far to show, not this time until we end up fighting the virus and until the global market turns back to normal operation. It is a long way to hold.

[KTChampions]

We're getting back to $7k again and hoping this would start for a strong market comeback. We are in less than a month before Halving and the resistance isn't really strong. Having $7k these days isn't to be considered enough and it may be possible there is a dump happen again as what it happens last week. Thinking about the Bullish market is a little bit far to show, not this time until we end up fighting the virus and until the global market turns back to normal operation. It is a long way to hold.

The level of 7200 is broken and this is fixed. What does this give us? Can someone say with full confidence that the price will no longer fall below 7000 and only go up? What resistance is now considered the main? I do not believe in technical analysis, but I will gladly listen to the forecasts of specialists.

[fortunecrypto]

The level of 7200 is broken and this is fixed. What does this give us? Can someone say with full confidence that the price will no longer fall below 7000 and only go up? What resistance is now considered the main? I do not believe in technical analysis, but I will gladly listen to the forecasts of specialists.

I am not an specialist only a long term holder, I believe now that we reached the $7000 level and there are news of vaccine plus the halving is fast approaching, we will have a good support in the $7000 level I don't think it will go down again, there's a big chance that the price will even go further $7500 level before we reach the halving.

[Yatsan]

Yesterday it didn't break the 7300, so I am expecting a dump until at least 7100 right now, but if it is somehow hold the 7200 for 24hr then, there's a higher chance that we can go after 7600 after it break the 7300. Let's just wait on what's going to happen the halving is also near so expect a huge pump after that.  Based on the past halving it gives bitcoin a huge pump so maybe history will repeat itself after the halving 

[KTChampions]

The level of 7200 is broken and this is fixed. What does this give us? Can someone say with full confidence that the price will no longer fall below 7000 and only go up? What resistance is now considered the main? I do not believe in technical analysis, but I will gladly listen to the forecasts of specialists.

I am not an specialist only a long term holder, I believe now that we reached the $7000 level and there are news of vaccine plus the halving is fast approaching, we will have a good support in the $7000 level I don't think it will go down again, there's a big chance that the price will even go further $7500 level before we reach the halving.

Movements of 100-200 and even 500 dollars are minor fluctuations in fact. Bitcoin has always been highly volatile, so I don’t think it’s worth seriously discussing these fluctuations. I would like to hear a more global forecast. As I understand it, you think that halving will significantly increase the price of bitcoin. What levels?

[Arkann]

Yesterday it didn't break the 7300, so I am expecting a dump until at least 7100 right now, but if it is somehow hold the 7200 for 24hr then, there's a higher chance that we can go after 7600 after it break the 7300. Let's just wait on what's going to happen the halving is also near so expect a huge pump after that.  Based on the past halving it gives bitcoin a huge pump so maybe history will repeat itself after the halving 

I practically no longer pay attention to more than one forecast regarding the further development of events in the cryptocurrency market, since all these words are only an assumption.  Although I really expect very much the Bitcoin halving in a month.  Perhaps based on the results obtained then it will be possible to determine what to expect by the end of 2020.

[STT]

No doubt there is some positive effect from halvening but its not the substantial move many hoped, all we are doing for a while is bobbing up and down in the ocean waiting for a bigger wave.   Roughly we could say its positive or can still develop positively but my take is in sum total to say this is not the boost we'd often see around such a large BTC event as this.  
   So I do worry slightly for BTC later on in the year, I read some one elses chart and history and his idea was if not before then after halvening BTC price does benefit but I believe that most of the immediate boost is speculation prior.

So we past 50 DMA, we had it as lows just now confirmed above and in estimate I'd say 7200 to 7500 as range for now same as month start.   Really for me to be more positive I want to see price break above, confirm and continue to rise around 8400.   Thats the trend since the bigger low this year, maybe it was too aggressive.
   If so then its going to take some time, resistance or a road not clear; however we view it we do not yet have a bullish cash so far as I can see.

[carlisle1]

Here Finally there is a thread that talks about resistance

https://bitcointalk.org/index.php?topic=5242131.0

Maybe people are not ready to stand about this because we know how bad the effect of the virus so resistance is not a Big thing so far.

Yesterday it didn't break the 7300, so I am expecting a dump until at least 7100 right now, but if it is somehow hold the 7200 for 24hr then, there's a higher chance that we can go after 7600 after it break the 7300. Let's just wait on what's going to happen the halving is also near so expect a huge pump after that.  Based on the past halving it gives bitcoin a huge pump so maybe history will repeat itself after the halving 

If fell below $7,000 mate but had come back after a day so we are staying at 7,000-7,1000 now and i think enough to be contented because still world is struggling until this moment.

[TitanGEL]

Here Finally there is a thread that talks about resistance

https://bitcointalk.org/index.php?topic=5242131.0

Maybe people are not ready to stand about this because we know how bad the effect of the virus so resistance is not a Big thing so far.

Yesterday it didn't break the 7300, so I am expecting a dump until at least 7100 right now, but if it is somehow hold the 7200 for 24hr then, there's a higher chance that we can go after 7600 after it break the 7300. Let's just wait on what's going to happen the halving is also near so expect a huge pump after that.  Based on the past halving it gives bitcoin a huge pump so maybe history will repeat itself after the halving 

If fell below $7,000 mate but had come back after a day so we are staying at 7,000-7,1000 now and i think enough to be contented because still world is struggling until this moment.

The price of bitcoin is consolidating inside the darvas box where it is ranging between $6400-$7500. There is a major resistance at $7500 and we can observe that when the price of the bitcoin reached this area, the price is bouncing and the price is declining. If there will be a breakout in this resistance, we should expect that the price may rise because there will be a role reversal that will happen where the major resistance will become a major support.   

[bitgolden]

There is a disbelief in the larger crypto community towards supports and resistances and they just think that is worthless. You can't blame them for not really caring about your basic Technical Analysis because this is bitcoin we are talking about, you can read the charts as well as you can ever possibly read them and one day some super rich whale could buy tens of thousands of bitcoin and increase the price right away, or sell tens of thousands of bitcoin and crash it, which means TA is valuable on regular days but there are days that makes no sense in TA ways.

So, people are saying there could be a resistance, that is fine, but as long as we get a huge bull run, that resistance will be broken in matter of minutes by buyers and people who remove their orders.

[judaspriest]

The $ 8000 resistance we have to talk about right now, this is very important for the future price of Bitcoin,
if we pass the price of $ 8,000 and the one day candle stops above $ 8000 we see a new hope, hopefully

[STT]

The problem with resistance lines is that it is rather a statistical phenomenon. They change their levels and ordinary users will know about it when this shift has already occurred. If we recall such phenomena as a false breakdown, then I do not know how knowledge of these levels can help me in trading  

Fair point, the resistance or support matters because after it holds we have greater confidence in the move there after.   If I have completely a blank sheet then Iam unaware of the significance to the move that just occured.   People are constantly searching for the bottom price to go long at or the best price where we top out for the week the month or year and knowing that with any greater confidence then the next trader is quite valuable.
Up until the significance is proved, its just a maybe and a possible area of interest.   Its hard to place any faith in maybes so its a process of confirmation, I like the multiple time lines that confirm some strength to a move.

[BChydro]

The level of 7200 is broken and this is fixed. What does this give us? Can someone say with full confidence that the price will no longer fall below 7000 and only go up? What resistance is now considered the main? I do not believe in technical analysis, but I will gladly listen to the forecasts of specialists.

There are no specialist and the market does not move according to what the specialist think, they can only interpret after a particular movement, the resistance and support are real but when the pump from the whales is always a mystery, since the resistance is broken the next major one will be around $8400. No one can say with confidence whether there will be a correction but $7200 will be a good support considering today's market.

[Yamifoud]

The $ 8000 resistance we have to talk about right now, this is very important for the future price of Bitcoin,
if we pass the price of $ 8,000 and the one day candle stops above $ 8000 we see a new hope, hopefully

It is just a few more steps to go but that not given sure if we could make it. Yeah, it was just a hope for everyone who holds bitcoin but I know that some people are wanting also to see the price drops. This is the ridiculous thing in crypto and that is we often see the ups and downs because not all together are making way to push the market high but some of us also are pulling it down. That makes me think that we can't really expect the market to go along with us all the time and I feel the strong aura of market volatility.