bitcoin price analysis

[Amine05]

Bitcoin surged above the prior high without any real issue, touched $2900 and pulled back to the break-out level from around the first Fibonacci-extension at $2925. BTC is still on a buy signal with the short-term trend still being intact. The Fibonacci based targets for the current move are $3050 and $3260, with the prior swing ...

[richsoon]

I have found Fibonacci targets don't work very well for predicting bitcoin prices, the more relevant thing to follow are the big item news that lead it to pump a lot.

[lionheart78]

Bitcoin price is unpredictable, even charts and analysis will have a hard time predicting its trend.  Though I object that the price surge has no real issue, the fact that there are really good news about bitcoin and countries accepting it is good enough reason for bitcoin price to increase rapidly especially if the current increase triggers FOMO to the investors.  The price increase when Japan accepted Bitcoin maybe one example that investors might think Bitcoin will increase in price when Australia starts accepting bitcoin as Japan did.

[Amadues]

Bitcoin surged above the prior high without any real issue, touched $2900 and pulled back to the break-out level from around the first Fibonacci-extension at $2925. BTC is still on a buy signal with the short-term trend still being intact. The Fibonacci based targets for the current move are $3050 and $3260, with the prior swing ...

There  is a reason behind bitcoin’s continuous trend toward $3,500.. The current rise in bitcoin price is more stable than its previous price changes and it is looking for monthly support level. Monthly pivots  yield a resistance maximum  at around $5,800. Major rallies always happen  in this volatile cryptocurrency markets. For example, within the period of one week, the bitcoin price went from $1,700 to $2,700. It looks like a bigger correction as normal, but later  price stabilized at $2,200-2500 resistance levels. In overall, the value of BTC increased by 124 percent in 2017 and it will hit 3500$ after August

[iqlimasyadiqa]

Bitcoin surged above the prior high without any real issue, touched $2900 and pulled back to the break-out level from around the first Fibonacci-extension at $2925. BTC is still on a buy signal with the short-term trend still being intact. The Fibonacci based targets for the current move are $3050 and $3260, with the prior swing ...

the possibility to increase the price is still great. We can see the bitcoin market is experiencing a positive impact, so do not worry about the price drop. Bitcoin markets always show a significant rise, declining just a few moments and do not be a panic sell. Wait for the price to rise, we all believe it will happen.

[Zemangat]

I am not familiar with such analytical techniques, reading the market and so on makes me confused and difficult to sell or buy bitcoin at the right time. Which I know starting from last month bitcoin prices soaring ,, and this is a good time to sell some bitcoin I have. Maybe a few weeks bitcoin will continue to rise. That's my opinion

[ktabb]

Bitcoin surged above the prior high without any real issue, touched $2900 and pulled back to the break-out level from around the first Fibonacci-extension at $2925. BTC is still on a buy signal with the short-term trend still being intact. The Fibonacci based targets for the current move are $3050 and $3260, with the prior swing ...

This sounds reasonable to me, although I think it's important not to get too bogged down in a single form of technical analysis. Bitcoin definitely still has strong upward momentum and should continue to rise in the short term. That being said, I still think it is overpriced an will have a very large, major correction within several months.

[angrybirdy]

I think buying at this point is a lot more riskier compared to last week. Correct me if I'm wrong but last time I tried to join the hype, I left my guard down and it was not a happy ending. Learned my lesson.

[YuginKadoya]

I think buying at this point is a lot more riskier compared to last week. Correct me if I'm wrong but last time I tried to join the hype, I left my guard down and it was not a happy ending. Learned my lesson.

That is investing all about, there is a risk involve, and you can not predict the movement of bitcoin that is why it is pointless if you are engaging in with this hype without further securing your own money, because if we certainly just apply our knowledge in certain bitcoin movement we are not only predicting about the increase but the decrease too, and we can not predict if there would be a large selling gonna happen in the bitcoin market.

[bicork]

I have found Fibonacci targets don't work very well for predicting bitcoin prices, the more relevant thing to follow are the big item news that lead it to pump a lot.

Oh, and it seems to me that only Fibo is working. Patterns are not the good with no market history and high volatility. Thats why I like Fibo

[angrybirdy]

I think buying at this point is a lot more riskier compared to last week. Correct me if I'm wrong but last time I tried to join the hype, I left my guard down and it was not a happy ending. Learned my lesson.

That is investing all about, there is a risk involve, and you can not predict the movement of bitcoin that is why it is pointless if you are engaging in with this hype without further securing your own money, because if we certainly just apply our knowledge in certain bitcoin movement we are not only predicting about the increase but the decrease too, and we can not predict if there would be a large selling gonna happen in the bitcoin market.

Yes I know there are risks. What I said was the level of risk in buying btc now is greater. I personally can't predict but I just share inputs from others who call themselves analyst.

[bamboylee]

I am not familiar with such analytical techniques, reading the market and so on makes me confused and difficult to sell or buy bitcoin at the right time. Which I know starting from last month bitcoin prices soaring ,, and this is a good time to sell some bitcoin I have. Maybe a few weeks bitcoin will continue to rise. That's my opinion

You will be paying more if you will just base your speculations on gut-feel just like you have done now. It pays to learn how to read the market and be well informed.

[djgtr]

I am not familiar with such analytical techniques, reading the market and so on makes me confused and difficult to sell or buy bitcoin at the right time. Which I know starting from last month bitcoin prices soaring ,, and this is a good time to sell some bitcoin I have. Maybe a few weeks bitcoin will continue to rise. That's my opinion

You will be paying more if you will just base your speculations on gut-feel just like you have done now. It pays to learn how to read the market and be well informed.

Having enough informations from what you've read from the market articles will help you gather certain information, in order to get reference on the decisions you have. At a current price of today, it's been expected to reach at higher hit but suddenly there dumps happening by those long term holders that needed exchanging for their personal needs. If you buy now while price go down at a certain level and wait for several days can be profitable if you just monitor the price and sell when it obtains higher amount to be earned.

[TravelMug]

I am not familiar with such analytical techniques, reading the market and so on makes me confused and difficult to sell or buy bitcoin at the right time. Which I know starting from last month bitcoin prices soaring ,, and this is a good time to sell some bitcoin I have. Maybe a few weeks bitcoin will continue to rise. That's my opinion

You will be paying more if you will just base your speculations on gut-feel just like you have done now. It pays to learn how to read the market and be well informed.

I'm not also into the details of reading the market trend. It so confusing. I try to used gut fell as well. But I said that this is not the correct way, so I started to learn and understand at least the basic of a graph and make my own conclusion. Yes, its purely speculative market, but it pays to seek knowledge and making your sound decision about the movement.

[Panda Trump]

Fibonacci doesn't work.
You should like at logic.

More people use it -> Higher Bitcoin price

So, now more and more people are using it, so the price will rise even more, probably hitting $3500 by august, $3800 by september and soon after that either approach the 4k mark or drop a couple hundred bucks down.

[agustina2]

Whatever technical analysis or chart readings applied in bitcoin price analysis that is happening now, it's good to see that price is climbing up in not a fast movement. It's good to see such movement since we can say that this is not all about a hype or trend. A slow rise that's continously happened in bitcoin happen is a normal activity of buy and sell.

Surely we can expect a rapid price increase again once $3,000 level reached.

[angaper]

Despite all the evidence of the futility of technical analysis to predict the market behavior, I see that there are still people struggling to try to demonstrate their supposedly gross knowledge in this field.

All these calculations based on Fibonacci's ideas were a good attempt to find an orderly pattern in the midst of the apparent chaos of the markets, but it has never proven to be as accurate as many would presume. And I say this after almost ten years of trying it over and over in different trading models in the financial markets without consistent results based on Fibonacci, or markedly different from other models.

[angrybirdy]

Despite all the evidence of the futility of technical analysis to predict the market behavior, I see that there are still people struggling to try to demonstrate their supposedly gross knowledge in this field.

All these calculations based on Fibonacci's ideas were a good attempt to find an orderly pattern in the midst of the apparent chaos of the markets, but it has never proven to be as accurate as many would presume. And I say this after almost ten years of trying it over and over in different trading models in the financial markets without consistent results based on Fibonacci, or markedly different from other models.

Correct, if this is sure to work.(fibonacci) whatsoever, then a lot of people should have taken advantage. But unfortunately the market remains mysterious. We don't know when will a whale dump his load etc.

Other 'analyst' may have theories but you can't be very sure that they are not players of this up and down ride. They could be plausible and also misleading.

[richardsNY]

Surely we can expect a rapid price increase again once $3,000 level reached.

Who is we? I prefer to remain holding a conservative stance when it comes to the market that has increased significantly in a short period of time. Nothing goes only up in value -- sure, the demand keeps pushing the price forwards, but that doesn't mean we will not face difficult times that negatively affects the market. Don't forget that SegWit still isn't activated to give Bitcoin a massive boost -- all eyes are pointed at August for the UASF....

[el kaka22]

Surely we can expect a rapid price increase again once $3,000 level reached.

Who is we? I prefer to remain holding a conservative stance when it comes to the market that has increased significantly in a short period of time. Nothing goes only up in value -- sure, the demand keeps pushing the price forwards, but that doesn't mean we will not face difficult times that negatively affects the market. Don't forget that SegWit still isn't activated to give Bitcoin a massive boost -- all eyes are pointed at August for the UASF....

Yes, there will not be any possibilities for any commodity to have only up or down all the times. But with respect to current scenario of bitcoin adoption rates and how new investor are coming in, I do not see any major corrections to occur even it may happen, quick bounce back will be inevitable. I guess bitcoin will have 10% growth for example and will have 2% fall back. It means it will satisfy the general economics principles of Nothing goes only up in value, yet will have huge value in quicker time.