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Author Topic: resistance and support level  (Read 1180 times)
pinkflower
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March 30, 2017, 07:23:21 AM
 #21

~
That is a 15 minute chart and hardly very good for the medium term. Check it again using the daily charts. We have seen it try to go up maybe at least 2 times and the sellers always win.

The funny part is you think it is still going up by looking at the 15 minute chart. Everyone else is already seeing it fall except you. Where was the price of Bitcoin at the beginning of the month? Did it go up or down since then?

the daily charts also show a rise in the previous 3 days leading to your comment from the bottom of $888 to the time you posted (~$986).
the dump is a manipulation and a result of FUD, and you can't see that on charts ever. if you follow the news the rise from $1100 to $1250+ was because of the ETF hype and right after the rejection the new FUD about the split started to happen and it is an ongoing thing but the resistance has kept the price from falling under $1000

people see what they want to see, that doesn't make it right. they saw the moon and started FOMO buying up to 1280 and then they saw the end and started selling back down to $888

The previous 3 days? Try too look at how it was moving before that. Since 3/10/17, BTC made lower highs and then hit a new 1 month low everytime it went down. Buying now and trying to time the bottom will be like catching a falling knife. Is that what you want all of us to do?


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March 31, 2017, 11:47:13 AM
 #22

Resistance levels are only really estimations, but at this point I see resistance levels as where a new wave of volatility can drop to.  We know that Bitcoin's resistance level is somewhere around $900 right now because all the recent dumps and drops in price have not gone under that point despite significant volatility.

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March 31, 2017, 11:55:51 AM
 #23

The economic situation around the world is unstable, so it is safer to keep savings in different currencies. Bitcoin is a good idea for saving and multiplying funds. It is much better to invest money at a time when the price breaks the bottom and in a panic people sell cheaply the crypto currency. Now is the right time to invest in to make good money.

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May 09, 2017, 01:43:18 PM
 #24

The answers here are laughable. It just shows that almost everyone here talks a lot without knowing a lot about the subject. This is the age of Google people. An easy search will bring you the right answer.

Right now it would be stupid to use range trading as a strategy because BTC is starting to trend lower and lower. It can only be applied if something is trading sideways.

the laughable part is that you either don't know what the words "trend lower and lower" means or you were too lazy to check the price before making this comment. or it is possible that you though if you say this, your comment can have an effect on the trend and reverse it so you can get in since you missed the train since price was already about $86 higher than the bottom!



You had a good study of both the poster and the price chart. That is really nice to have you studying the price trend so closely. I'm guessing that's virtual platform you use to trade?

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May 09, 2017, 08:24:46 PM
 #25

Bitcoin never was so high breaktrough level was 8000 yuan now is almost 10000 yuan.I can risk and say resistance and support level will be between 1800$-2200$ if btc will pass 1800$.Itis crazy now there is huge demands on all crypto bluechips


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May 10, 2017, 04:56:09 AM
 #26

~snipped~
You had a good study of both the poster and the price chart. That is really nice to have you studying the price trend so closely. I'm guessing that's virtual platform you use to trade?

the screenshot you see is from bitcoinwisdom.com they have the major bitcoin markets and also some of the altcoins are there too.
as for me, i am mostly trading altcoins and i do that on bittrex for bitcoin trading i have been using bitfinex before they got stuck and sometimes on btc-e but mostly on kraken (a bit all over the place, i know).

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May 10, 2017, 05:05:06 AM
 #27

~
That is a 15 minute chart and hardly very good for the medium term. Check it again using the daily charts. We have seen it try to go up maybe at least 2 times and the sellers always win.

The funny part is you think it is still going up by looking at the 15 minute chart. Everyone else is already seeing it fall except you. Where was the price of Bitcoin at the beginning of the month? Did it go up or down since then?

the daily charts also show a rise in the previous 3 days leading to your comment from the bottom of $888 to the time you posted (~$986).
the dump is a manipulation and a result of FUD, and you can't see that on charts ever. if you follow the news the rise from $1100 to $1250+ was because of the ETF hype and right after the rejection the new FUD about the split started to happen and it is an ongoing thing but the resistance has kept the price from falling under $1000

people see what they want to see, that doesn't make it right. they saw the moon and started FOMO buying up to 1280 and then they saw the end and started selling back down to $888

The previous 3 days? Try too look at how it was moving before that. Since 3/10/17, BTC made lower highs and then hit a new 1 month low everytime it went down. Buying now and trying to time the bottom will be like catching a falling knife. Is that what you want all of us to do?

I agree there is a possibility that bitcoin will have a correction soon but do we know when it will be?  There are lots of what ifs, and possible scenario after this increase, it might increase more or have a correction.  We maybe have a hint on the next movement but we do not know when it is and the possible correction price. 

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May 10, 2017, 06:32:34 AM
 #28

Bitcoin never was so high breaktrough level was 8000 yuan now is almost 10000 yuan.I can risk and say resistance and support level will be between 1800$-2200$ if btc will pass 1800$.Itis crazy now there is huge demands on all crypto bluechips

At Bitfinex Bitcoin already broke the 1,800 dollars resistance level

But I don't think that this level will be of any significance or importance given how fast and easily the price went through previous levels (like a hot knife through butter), i.e. 1500-1600-1700 dollars. It looks we now have two major support and resistance levels. The base support level is at 1,200 dollars per coin and ultimate resistance level at 2,000 dollars. As I've been telling many times, with prices rising that high, we should expect greater volatility, thus this huge megarange of 800 dollars. You will see plenty of buy and sell pressure at these levels

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June 14, 2017, 02:13:33 PM
 #29

how can i work out the current resistance support levels for bitcoin ? any advice would be appreciated

It has been very hard to gauge bitcoin support and resistance for the past months. It is anybody's guess in volatile times. When the original post was made it was between $900 and $1200. We are now in June, just a bit over two months and it is anywhere between $2500 and $3000. Support and resistance can come in various forms and it is much more difficult to master than it first appears.
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June 14, 2017, 08:32:15 PM
 #30

I think op you will need to visit http://www.babypip.com and leaned who to spot support and resistance level in any assets charts. If you are a seasonal trade you will see alot of this in bitcoin chart. If you are not a seasonal trader you can spot it by just follow the charts and find were candlestick test a particular spots for more than twice.

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June 14, 2017, 08:52:21 PM
 #31

how can i work out the current resistance support levels for bitcoin ? any advice would be appreciated
It has been very hard to gauge bitcoin support and resistance for the past months. It is anybody's guess in volatile times. When the original post was made it was between $900 and $1200. We are now in June, just a bit over two months and it is anywhere between $2500 and $3000. Support and resistance can come in various forms and it is much more difficult to master than it first appears.
In a live market support and resistance will change according to the market strength,earlier it was trading around a range of $900 and $1200 and so we know that we have a good support at those nine hundred levels and a good resistance at thousand two hundred,we now have a range bound of $2400 and $3000 and we now know that we have a major resistance at three thousand,one thing to be noted is that the volatility level also increased.


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June 14, 2017, 09:06:20 PM
 #32

how can i work out the current resistance support levels for bitcoin ? any advice would be appreciated

It has been very hard to gauge bitcoin support and resistance for the past months. It is anybody's guess in volatile times. When the original post was made it was between $900 and $1200. We are now in June, just a bit over two months and it is anywhere between $2500 and $3000. Support and resistance can come in various forms and it is much more difficult to master than it first appears.

You seem pretty wrong to assume that there is support at 2500, because if there was it wouldn't have taken its whole existence to reach it. Bitcoin has become adapted so that its bought/sold based on the World's economy and news. I think there is more support for the range of bitcoin to be higher than any other commodity because its lifetime growth cannot be beat by any other electronically traded fund.   

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