778 resistance broken, 779 hit, time to fly!!

[pereira4]

The last 778.something resistance from a couple of days ago before the dip to 743 was broken in the past hours. Now if you step back and take a look at the graphic you'll see that we have been going up for months now with a very healthy looking lateral uptrend. This is looking really good gentlemen, so get ready to buy as much as possible during any potential dips because we are going 800s soon.

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[European Central Bank]

the price action is certainly far more encouraging than one insane run up.

I'm wondering if bitcoin has gotten past that stage but I doubt it has.

[BTCLovingDude]

i am always happy to see a rise in bitcoin but this seems to be a temporary up and down fluctuation that has been happening for a couple of weeks now with an overall rise. which means the bottom is slowly shifting up and the high is also going a bit higher each time.

but i hope to wake up tomorrow to a $800 price!

lateral uptrend.

my English is a bit rusty, is "lateral" correct word here?

[Clement Kaliyar]

The last 778.something resistance from a couple of days ago before the dip to 743 was broken in the past hours. Now if you step back and take a look at the graphic you'll see that we have been going up for months now with a very healthy looking lateral uptrend. This is looking really good gentlemen, so get ready to buy as much as possible during any potential dips because we are going 800s soon.

I do have my doubts here,how do you calculate the resistance of bitcoin here as i was struggling for a while to understand how to calculate that. If you can please do enlighten me regarding this, yes the price has broken the $779 mark and i do expect the price to go uphill until a major negative news breaks against bitcoin other than that there is no reason for the price to go down.

[piloder]

Today price got another spike pushing it to over $780 i think there will be next resistance at $800 and than $800+ or even $900+ could be price on new year. Nice to see bitcoin eating all sell orders.  

[LFC_Bitcoin]

I'd like to see us breach $800. I can't remember the last time we were above $800 for a significant amount of time.
People need to keep buying, you don't want to regret not eating up these cheap coins whilst we are still sub $1000.

[JimboToronto]

lateral uptrend.

my English is a bit rusty, is "lateral" correct word here?

"Lateral" means "sideways", so "lateral uptrend" is a bit of an oxymoron (contradiction of terms).

In this case it's appropriate though because while we've been going more or less sideways for the last week and a half, it's been creeping slowly upward.

[equator]

Today price got another spike pushing it to over $780 i think there will be next resistance at $800 and than $800+ or even $900+ could be price on new year. Nice to see bitcoin eating all sell orders.  

800+ price is 99% achievable in this month but $900+ price i dont think that we can see in this month , next year also wont be much possible as their is small hurdle near $850 price where it will stick for some more time then it will move up or little bit low if it keeps above 800$ price then surely in feb 2017 we will see the price of bitcoin above $900+

[n0ne]

The price of bitcoin is found to increase and decrease without being stable on a particular price. Now as expected price movement towards $800 has begun. I believe the price sustains and continues growing as we are getting near to the end of the year 2016. Every year end price increase happens to some extent.

[thejaytiesto]

The last 778.something resistance from a couple of days ago before the dip to 743 was broken in the past hours. Now if you step back and take a look at the graphic you'll see that we have been going up for months now with a very healthy looking lateral uptrend. This is looking really good gentlemen, so get ready to buy as much as possible during any potential dips because we are going 800s soon.

I do have my doubts here,how do you calculate the resistance of bitcoin here as i was struggling for a while to understand how to calculate that. If you can please do enlighten me regarding this, yes the price has broken the $779 mark and i do expect the price to go uphill until a major negative news breaks against bitcoin other than that there is no reason for the price to go down.

There's nothing to calculate, just look at the graphic, but OP forgot to mention the 778 resistance as seen in last june. Then after that peak, we dipped all the way down to 465 dollars in august because of the bitfinex incident.

So we went for months trying to come back for the 778, in december 2, we tried and failed, 10 days later, we are finally past 778, and we are 779+

Resistance just means a price that has been tried to be surpassed in the past but failed.

[European Central Bank]

One of the interesting things to note is that it isn't just exchange bullshit. The localbitcoin stats are ever higher too. There's some real demand from people.

[~Bitcoin~]

I will not be surprised if price surpass $800 by end of this month or even earlier. Also this price rise seem steady one rather than sudden surge. This uptrend seems promising...

[Kprawn]

I will not be surprised if price surpass $800 by end of this month or even earlier. Also this price rise seem steady one rather than sudden surge. This uptrend seems promising...

I prefer a slow uptrend over a long period, than these mini bubbles ... but I guess the day traders are loving the volatility and are making tons

of money on the mini pumps.  .... I hope we will hit $800 soon... and then retain this value, like we did at the $400 price range. The

merchants do not appreciate too much volatility, so I hope it settles down soon.

[Chikako]

bitcoin is not about resistances, when it is set to fly is because it was set to fly! not because it broken resistances

[JimboToronto]

I guess the day traders are loving the volatility and are making tons

The exchanges are certainly doing well. They get 2 fees from every trade, 1 from the buy and 1 from the sell.

Trading would be a net zero game if it weren't for that house vigorish. As it stands, more is lost than earned through trading.

[Biodom]

well, we are at a high for the year..above $784.
I wonder where we close the year.
Some profit-taking is to be expected (after Christmas?).
I just hope that ETF is approved next year and not in 2016, otherwise we would pop a bit too much.

[s1lverbox]

than these mini bubbles ... but I guess the day traders are loving the volatility and are making tons

of money on the mini pumps. 

Volatility makes money. Long up trend is great for long term investors. But when price going sideways for weeks that's not good for short term traders.

[IIOII]

It is my belief that we will be seeing a significant acceleration of the rally, once the price breaks through $ 800. There are strong fundamental factors at work. Demand in India, Venezuela and China is soaring because of their governments restricting or inflating fiat cash. Once journalists become aware that Bitcoin is rising again, they will start to write more articles about, because articles about a good investment case are appreciated by readers, no matter how inadequate they really are.

Increased media reporting will ignite the rocket motor of Bitcoin. A new bubble will form.

[richardsNY]

The last 778.something resistance from a couple of days ago before the dip to 743 was broken in the past hours. Now if you step back and take a look at the graphic you'll see that we have been going up for months now with a very healthy looking lateral uptrend. This is looking really good gentlemen, so get ready to buy as much as possible during any potential dips because we are going 800s soon.

People should have bought their coins way below current price levels as they had more than enough time to do so. If you buy right now, then reaching $800 or $820 won't that big of a deal. You'll either need to buy plenty of coins where you can benefit from the price reaching $800, or you need to keep holding till the price reaches +$1000 levels in 2017. Best is simply to keep holding the coins you bought far below current levels to see where we are heading towards.

[Sundark]

I will not be surprised if price surpass $800 by end of this month or even earlier. Also this price rise seem steady one rather than sudden surge. This uptrend seems promising...

Wt might cross $800 at this rate but be ready to radical crash in January. Natural price cycle of bitcoin will bite us in the ass.
I would be very surprised if the price would stay on this level in first quarter of 2017.