BTC analysis for this month!

[2double0]

Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

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[Seansky]

[img]
Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

For me, I was expecting another dump coming this month before it ends. It will continue to rally later on this year if there is not that much FUD that will bring bitcoin price down. Also, there is a possibility that it will stabilize within the current levels it has now, indicating that there will be a bigger dump or pump later this year that is if this happens. I hope the latter speculation will be the one to occur and not the former.

[LeGaulois]

There are over $1000 missing on the table and it's all that I see 
To make it worse the price will surely go down again in the next two months, step by step, without any FUD needed. I'm not very optimistic about the Bitcoin value for the next two months. I decided to wait after November/December and see how the things will be

[Kronos21]

This is not surprising. I expected lower prices. Only I'm sure this year will be another surge. But the statistics are interesting only for those who engaged in speculation on the stock exchange. I don't do that and so I will delight the price is even $ 2000. For those who forgot, I remind you that at the beginning of the year, we were happy that the bitcoin reached the price of $ 1,000. Human greed is limitless.

[Oilacris]

Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

If we do really base on technical analysis it did already form triangle and it would really break out soon going bullish which as those pivot points would really be reached out but we cant really be sure because of the upcoming news on this end of this month on which i do believe that we cant really depend or basing on the technical analysis itself.This is why im still on on doubt if it would breakout upwards or dip down because of the news.

[LoyceV]

I noticed the same pattern on the top of this graph today, and came looking for this thread. It seems too accurate to be random, although I don't usually believe the "I can draw 2 lines on a graph to predict the price".

As far as "the Pivot point" goes: I wouldn't have drawn the lower line. That doesn't mean the upper line will continue on it's way down though.

After that, I see a rally incoming.

If there's one thing Bitcoin thought me, it is that it can go both ways real fast.

[Victorycoin]

I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.

 I understand how price action works, but your assertion that you use no indicators need to be corrected, because the pivot points I see in the image are price-based level indicator that helps a trader spot support and resistance levels in the market.

In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.

As we have come to know it, Bitcoin have always shown propensity to go up, because more adoption readily translates to more demand and the only explanation for above market set up is that market has began marking time for the outcome of proposed hard fork next month and which is by the corner.

[Yuuto]

Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

Very likely to be true as currently we are seeing no real dump or pump happening and it seems to me that the whales are starting to accumulate some bitcoin once again quietly. If a pump does come it won't be surprising if the price jumped up to $5k+ finally.

Though, there are still limiting factors that keep price low.

For example the constant FUD coming out of China is really hurting the prospect of a big pump, which imo will happen again this year, eventually.

[SushiMonster]

Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

Just what a lot of people expected, I do hope that by December this will hit the $4500 mark.

[Quietman]

Whatever may happen this month I'm quite sure that bitcoin will soon recover. Maybe the factors that keeps the value of bitcoin right now is the issues on china and the coming fork on november. But still I'm expecting bitcoin to be higher until november or december. It's like bitcoin was only preparing for a big dump before the end of this year.

[exstasie]

Just what a lot of people expected, I do hope that by December this will hit the $4500 mark.

December?!? That's over two months away. That's like a lifetime when we're talking about crypto. Today we saw a very strong reaction from bulls, and it looks to me like we are going to be retesting the highs within the next few days. After that, it's onto the OTE zone (62-78% fib retracement area), where I expect bears to step in and try to print a lower high on the long term charts.

I'm not sure whether or not to expect a break of $5000 in the mid term, or a return to the $2000s (as many seem to expect). Keeping an open mind right now.

[alyssa85]

It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

These wedges can break downwards rather than upwards - and the downward trend line looks stronger than the upward one. I think it will test $3000 again, and it it breaks through we're going to $2800

[timerland]

Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

We have the floor at $3500 which is a pretty good support level. This will be the basis of the pump imo.

I agree with you, i think that this week by the end of the month we should see some action going on with the price. The resistance currently is at around $4k and i would not be surprised if that resistance is broken, and turns into a new floor.

Though it does sort of depend on news from China, whether there are more regulations coming out or not.

[jorneyflair]

Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

It's already starting to move upwards it seems.

I think a conservative estimate of a level of $4k+ could well be possible if nothing changes from now and the end of the month. People panic sold their bitcoins for cheap when they heard that BTCChina is closing down and even though nothing has changed the panic is gone now and there is a lot of potential for a bull run here.

We could see BTC stop at around the curent level and hang around for another 2-3 days before moving up once again - good time to buy right now.

[emiedj01]

After seeing the chart we can surely see that the price is starting to rise little by little maybe we can really see the pull rise on October because this month has a lot of resistance beyond this and maybe because a lot of fake news and FUD had already reach many users.

[YuginKadoya]

Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

It's already starting to move upwards it seems.

I think a conservative estimate of a level of $4k+ could well be possible if nothing changes from now and the end of the month. People panic sold their bitcoins for cheap when they heard that BTCChina is closing down and even though nothing has changed the panic is gone now and there is a lot of potential for a bull run here.

We could see BTC stop at around the curent level and hang around for another 2-3 days before moving up once again - good time to buy right now.

Fairly maybe it is a good buy because it will surely go rise after a big drop on the price we can really see it maybe in the month of October, because right now I think there is a resistance right now but we can see a slight increase up to a $100 dollar and Right now it is on the $3700 mark value, but the month of September is ending I think we can really see the $4000 mark value again before entering the next month.

[randythered]

From the graph you can see the resistance holding back the price but I feel that a lot of this may clear if there is good news to come out of china, in fact, even once things are fully clarified and there is potential bad news. I still see it as a good thing longer term.

[iqlimasyadiqa]

This is not surprising. I expected lower prices. Only I'm sure this year will be another surge. But the statistics are interesting only for those who engaged in speculation on the stock exchange. I don't do that and so I will delight the price is even $ 2000. For those who forgot, I remind you that at the beginning of the year, we were happy that the bitcoin reached the price of $ 1,000. Human greed is limitless.

this is not a strange thing because for some time this bitcoin price is always changing very quickly. if told to vote then I want a price that continues to increase. because when prices decline then the opportunity prices will continue to increase will be smaller. I am someone who has a high level of optimism. so I expect the price will soon go upwards of 4000 $. this will make the bitcoin price will be easier to increase in the future. while the decline in prices will only delay and also slow the development of bitcoin. I believe the price will be in the range 3800USD up to 4100USD at the end of this month.

[2double0]

From the graph you can see the resistance holding back the price but I feel that a lot of this may clear if there is good news to come out of china, in fact, even once things are fully clarified and there is potential bad news. I still see it as a good thing longer term.

You are correct that the resistance is holding it back, but for good. Because if it goes straight away to those levels and gets dumped back once again, we will call it correction and I actually don't need it to be like that. Anyways, congratulations to all for holding hard because the price is soon to reach our Resistance 1 (4000) and then we will be marching towards the 4500 level which is currently the toughest resistance level to be crossed. Once Bitcoin goes par 4500, I don't think there's anything that could stop it from leaving its mark over the world with a new ATH.

[cafucafucafu]

Hey Speculators,
I am starting up with a tentative analysis over Bitcoins and help you understand about the basic levels if you are not that Pro in all this.
I am a steady Price Action trader who loves to derive levels on his own by watching naked charts only because I never use any indicators to draw where the price will tend to move.
In the image above, we can clearly see that Bitcoin is currently at level which should be determined as the Pivot point as the coin is currently moving with good stability currently with no such harsh moves.
It is currently in a triangle and could break up any time towards high because the momentum towards upside is looking much better against a drop.
It is currently holding hard at its Pivot level and Support 1 (3500) seems unlikely atm seeing the gains it has made so far.
However, it needs to break the triangle with some great force and cross Resistance 1 (4000) in order to confirm an uptrend where achieving Resistance 2 (4500) won't be that hard. After that, I see a rally incoming.

As predicted, we've seen a pretty big rally up around $200 from yesterday to the price point right now of $3900+. The sideways movement was the foretelling sign that this bull wave is going to happen, as you have suggested.

Though i don't think that we're just going to stop here.

We're likely to go up to even higher heights like $4500 by the end of the month, despite Chinese exchanges closing down. And $4000 should be the new floor.