BTC is about to crush major resistance points (very bullish)

[AtheistAKASaneBrain]

The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell. We were able to stay above that and don't cross the 300 day moving average which would have been very bad, through the weekend, and now that the market started becoming active with the start of the week, we are seeing massive bull pressure to break the $4100 key point. So keep an eye on that number if we cross it, get ready for another re-test of an all time high possible as soon as this week, which with due traction, could lead us to $6000 pretty easily.

[1714991946]

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[1714991946]

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[1714991946]

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[junoreactor]

The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell. We were able to stay above that and don't cross the 300 day moving average which would have been very bad, through the weekend, and now that the market started becoming active with the start of the week, we are seeing massive bull pressure to break the $4100 key point. So keep an eye on that number if we cross it, get ready for another re-test of an all time high possible as soon as this week, which with due traction, could lead us to $6000 pretty easily.

6000 for December 31st would be awesome. I think it is definitely possible.

[HeRetiK]

The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell. We were able to stay above that and don't cross the 300 day moving average which would have been very bad, through the weekend, and now that the market started becoming active with the start of the week, we are seeing massive bull pressure to break the $4100 key point. So keep an eye on that number if we cross it, get ready for another re-test of an all time high possible as soon as this week, which with due traction, could lead us to $6000 pretty easily.

I was positively surprised by USD 3500,- holding the way it did. Now the way I see it everything indeed depends on whether we manage to break USD 4100,-.

However I'm afraid that the slightest sneeze by China might send us retesting USD 3500,-, probably even USD 3000,-. Let's see.

[SummerBliss]

Bitcoin was able to maintain its price $3400+ and didn't fall much after once touching $2900 for a day. This shows that it is not a bubble but is experiencing a natural growth. All this downfall was a minor correction. Since, everything with China will be sorted by September end, buying activity has increased and so does the price. As after September price will more likely stay bullish.

[Torque]

Nope, not gonna happen because all the n00b wannabe traders be like "dur hur but mah elliot waves say $200". 

 /s

[bamboylee]

A new ATH sounds good but is it really possible right now? There is still the hardfork coming this november and the FUD about bitcoin is not yet over. Even if we cross 4100, there is still a great possibility that the price will reverse after that.

[cafucafucafu]

The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell. We were able to stay above that and don't cross the 300 day moving average which would have been very bad, through the weekend, and now that the market started becoming active with the start of the week, we are seeing massive bull pressure to break the $4100 key point. So keep an eye on that number if we cross it, get ready for another re-test of an all time high possible as soon as this week, which with due traction, could lead us to $6000 pretty easily.

The resistance once broken always turns into a floor as a launching pad for future pumps.

This is exactly what we are seeing here. We are very very close to breaking the $4k resistance level(already broken on some exchanges) and soon this will be the floor for bitcoin price. Then, bitcoin has room to grow to around $4500-5000 by the end of the month.

And Chinese rumors and bans are not having as strong an impact as it had a few days ago - which seems to me like another pump is coming very soon.

[pooya87]

The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell.

haha, i love technical analysts
not long ago they were saying if we drop below $3000 it is the end of the world and "will descend into hell". now this! it was their speculation that if $3000 resistance breaks price must go down to $2000.... i don't need to remind you that price went to $2900 and could not even last there for more than mere minutes before it jumped back up and went back to $3500 range.

[Kyraishi]

The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell. We were able to stay above that and don't cross the 300 day moving average which would have been very bad, through the weekend, and now that the market started becoming active with the start of the week, we are seeing massive bull pressure to break the $4100 key point. So keep an eye on that number if we cross it, get ready for another re-test of an all time high possible as soon as this week, which with due traction, could lead us to $6000 pretty easily.

Yeah definitely even with the closure of major chinese exchanges i don't think we'll see much of an effect on the bitcoin's upward trend that has started today at all. BTC is going to definitely break the $4000 barrier this time round.

When this happens, media will cover bitcoin and shed some light on it again, and this will in turn create more demand for bitcoin and i think we may well see $5000+ by the end of October and establish a new all time high.

Of course, price could end up not being that high, but it'll still be $4k+.

[alyssa85]

Well bitcoin is struggling to break $3900, let alone $4000 or $4100.

I think there are still traders with cash sitting on the sidelines waiting for september 30th, before they make their move.

Regarding the Chinese exchanges - do any users have information of what exactly is going on - have people managed to successfully withdraw their coins or fiat, for example?

[hase0278]

Well bitcoin is struggling to break $3900, let alone $4000 or $4100.

I think there are still traders with cash sitting on the sidelines waiting for september 30th, before they make their move.

Regarding the Chinese exchanges - do any users have information of what exactly is going on - have people managed to successfully withdraw their coins or fiat, for example?

It would be nice if those traders sitting on the sidelines with large cash really makes their move on September 30 because if they do, for sure we will break the resistance point and go way above. Regarding Chinese exchanges, most of them has successfully withdrawn all their coins to another international exchange or to fiat so the Chinese influence in btc price will be over pretty soon.

[randythered]

I think much of the resistance one way or the other will be broken at month end when there is further clarity in the Chinese market space. It would be great to see the 4100 point broken and an upward trend towards a new ATH.

[Jating]

I think much of the resistance one way or the other will be broken at month end when there is further clarity in the Chinese market space. It would be great to see the 4100 point broken and an upward trend towards a new ATH.

I'm not that technical but I love seeing member sharing their analysis. Currently is almost $4000 so I guess we need few more hours or days before breaking it and going to $4100 and as I understand it, if you breach it then we will see another massive bull ran touching $5000 or even new ATH again. The Chinese hangover should be over by now. I think they have already made their move last week when we see the price touch $4000 then it went to $3500-$3600.

I hope I can also read and made TA as you guys so that I can also make a good prediction. I just we really need to see how things evolved in the next coming days to see if we are correct.

[kolesozw]

The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell. We were able to stay above that and don't cross the 300 day moving average which would have been very bad, through the weekend, and now that the market started becoming active with the start of the week, we are seeing massive bull pressure to break the $4100 key point. So keep an eye on that number if we cross it, get ready for another re-test of an all time high possible as soon as this week, which with due traction, could lead us to $6000 pretty easily.

I think if BTC surpass the 4200 resistance barrier, it will not stop before 5000-5500 as 'standard' price for next few months.
In case of bigger escalation between US and N Korea, Bitcoin could even reach 20 000.

[asriloni]

That does make sense seeing that the recent trend, talking about JPMorgan which in my opinion affect the price of bitcoin in every their statement, I guess that after they're spreading their bullshit about bitcoin and gets bitcoin price dumped they're now having pockets full of bitcoin and ready for another pump, I hope people can learn from it.

[AtheistAKASaneBrain]

Well bitcoin is struggling to break $3900, let alone $4000 or $4100.

I think there are still traders with cash sitting on the sidelines waiting for september 30th, before they make their move.

Regarding the Chinese exchanges - do any users have information of what exactly is going on - have people managed to successfully withdraw their coins or fiat, for example?

We are sitting around $3936 right now, I don't see the drama of it struggling to get past $4000. Round figures always take a couple of tries and this could be the one that's needed to break it.

China doesn't need to be active for us to get back to an ATH. And that these hoping to see the US-North Korea problem escalate to see higher prices... well think again. I don't want to see nuclear war in order to get rich, because what's the point? If you get rich in a world that has become a disaster, you will not be able to enjoy your wealth. We need to hit $100,000 without any major wars happening.

[moopser]

Why everyone is so confident that another bull run is so close?
Maybe its just a bull trap and we will see 3k next.

[Zuilhsa]

I am happy to see all the OP above, the thing is right here, even after more complications occurred for past months, bitcoin has sustained its value and has recovered from the critical times. Now it is struggling to break $4000, once this resistance breaks we shall see $5k soon, again November event is there, lets keep an eye on price what is going to happen.

[Yuuto]

The technical analysis sustained by most professional traders on bitcoin right now is that it was key to stay above the $3400 latest bottom as the closest resistance we had, because below that it was descent into hell. We were able to stay above that and don't cross the 300 day moving average which would have been very bad, through the weekend, and now that the market started becoming active with the start of the week, we are seeing massive bull pressure to break the $4100 key point. So keep an eye on that number if we cross it, get ready for another re-test of an all time high possible as soon as this week, which with due traction, could lead us to $6000 pretty easily.

The key point to watch here is probably the $4000 level.

Once we break that the rest is pretty easy. We could easily achieve $6000 as you said by the end of the year despite the constant FUD and hard fork fears, if we can first establish $4000 as a floor for btc price.

We're seeing resistance right now at the $4k level, i think that once we see the resistance being broken, we'll see at least another $500 pump.

[LFC_Bitcoin]

I am happy to see all the OP above, the thing is right here, even after more complications occurred for past months, bitcoin has sustained its value and has recovered from the critical times. Now it is struggling to break $4000, once this resistance breaks we shall see $5k soon, again November event is there, lets keep an eye on price what is going to happen.

$4000 broken, let's see how high we can go. I'd love to see us reach $5000 & see that act as a new floor.