$12,000 right now is the new short term resistance already as we saw a short dump when it reached the $12,000 price.
Now if the $12,000 has been passed on and stayed above there for a couple of days then we may see a further up trend. However, I'm expecting for a short dip to happen at around $10,000 or below of it before a major rally will happen.
I love how Bitcoin made to $11,900 few days ago, it's kinda psychological part and dump again. For sure lot of people set their profit order on that part area which not exacyl on $12,000.
Well, that's not the big deal now. If we look on the momentum indicator of Bitcoin, on Relative Strength Index (RSI) we saw an overbought part on 1D time frame on the monthly close days of month of July and now we are near again to dropping at not-overbought area which is good again to accumulate.
I am expecting to see $10,000 before $12, 000. Well, $10,000 is kinda far but who knows.
I actually didn't expect that to happen on this stage while there is a big crisis happening these days and for sure we will see more pumps in future. Although its hard to say on which price we are heading next but still we have a huge glimpse of $12,000 since we are one step closer for that value to come.
And we need more demands and other things that can help bitcoins pump more.
You make a good point but haven't you notice that the crisis didn't impact crypto market and the reason for the current dump in price is the weak hands that enter the market when the uptrend happened which are now cashing out their profit.
Meanwhile, I dont expect the uptrend market to happen so soon and since it has happened we shouldn't expect the uptrend to last long.
I think it will be interesting if the OP will come back and make a follow up predictions.
But obviously, since it is taken from that article, we really know if he is the actual author. Anyways, it seems that $12k is the resistance now, although we touch it barely, it didn't sustain and it will take another round of money to flow again to push the price to $12k and then maintain it. Two different stories, touching it and then maintaining at some point without any selling pressure.
The OP cant do any follow up of the presictions because hes not the actual author of the article and the previous prediction was done base on the stable in price of the market while resistance to dump and logically pump in price should occur.
In the meantime, here is another prediction provided by the
site used by OP.
Thanks, and just what I have suspected, LOL.
@Yaunfitda - I absolutely agree with you, that's why we really need to be very careful on following these so called experts, because we all know this is prediction is just a wild and educated guess and it could be a hit or miss.
Anyhow, there is a chance that the obvious resistance is $12k, but this could be break as well. It's just a matter of time and we really don't need to hurry and let the market flow because sooner or later we will reach go there.
Every predictions needs to accompanied by good research and study on our side, it will be
effective if we also understand the possibilities.
After this thread, it's really interesting to read those follow ups coming from the original
owner of this prediction.
The chance to get good forecast regarding to the next market movement is another good
thing to watch out.
Based from the site, the chance of moving forward and reach $28K up to $100k as a new
target, let see how things will comes up after.
It good you're aware about every predictions to be accompanied with good research from investors or traders ending which still don't guarantee the investment profitable and the $28K up to $100K predictions are not acceptable by me.
