Bitcoin Price Analysis Today

[snowblack]

The cryptocurrency is finding buyers at lower levels who are using the sharp plunge in prices to buy for the long-term.
So, is the downtrend over or will the market resume its fall after a short pullback?

During a strong downtrend, a 1 to 3-day pullback can be expected. The counter-trend move usually faces selling at the 20-day EMA or at previous supports, which now act as resistance.
The BTC/USD pair is likely to face resistance at $9,500, which was the high on February 3. Above this, a move to $9,920 can’t be ruled out, but we expect the range of $9,920 to $10,700 to act as a strong resistance.

I believe that the cryptocurrency will turn down from one of the above-mentioned levels. If the retest of the lows is successful, i may add long positions for the long-term.

If the lows break, i’ll have to wait for a few more days.   

[Andrey123]

Now bitcoin will grow!
All the news about the ban of mining in China, turned out to be the tricks of hackers who earned on the fall of the course!

You can not forbid something that you can not even hold in your hands 

[Sept93]

Now bitcoin will grow!
All the news about the ban of mining in China, turned out to be the tricks of hackers who earned on the fall of the course!

You can not forbid something that you can not even hold in your hands 

I don't think so.
The downtrend will continue. Because of Tet holiday of Asian people.
All Asian people want to sell bitcoin for their holiday.

May be in March, bitcoin can grow again.

[metenjean]

Couldnt agree more, the price has found support in $7k range however we need more confirmation to define if the downtrend has reversed and in this case we need to see the price break $9,5k trendline for short term trading and retest back into $8,5k which will be the the second buy setup i've been waiting since buying in $7k area. This however only confirm that the trend will gain slight momentum towards $10k area. The price needs to break around $12k area to totally regain the upwards momentum and starting the bullish trend. Stoploss set below $5.9k but noted this review and suggestion didnt intended for choppytraders 

Ranging price between $6k - $7,5k so there will be my most buying position and limit setup and anywhere below $6k will be my stoploss, need to see more closing candle confirmation, mostly done by using line chart.

Here is the 4H chart with the same trendline which conform the downtrend still in play with some pullback momentum upwards, however this doesnt mean the trend has changed. However we need to know that bitcoin movement is the most volatile and trend can be changed in days countdown and not weeks or months 

[Sept93]

Couldnt agree more, the price has found support in $7k range however we need more confirmation to define if the downtrend has reversed and in this case we need to see the price break $9,5k trendline for short term trading and retest back into $8,5k which will be the the second buy setup i've been waiting since buying in $7k area. This however only confirm that the trend will gain slight momentum towards $10k area. The price needs to break around $12k area to totally regain the upwards momentum and starting the bullish trend. Stoploss set below $5.9k but noted this review and suggestion didnt intended for choppytraders 

Ranging price between $6k - $7,5k so there will be my most buying position and limit setup and anywhere below $6k will be my stoploss, need to see more closing candle confirmation, mostly done by using line chart.

Here is the 4H chart with the same trendline which conform the downtrend still in play with some pullback momentum upwards, however this doesnt mean the trend has changed. However we need to know that bitcoin movement is the most volatile and trend can be changed in days countdown and not weeks or months 

The biggest problem is goverment. Downtrend will be continue...

[snowblack]

Now bitcoin will grow!
All the news about the ban of mining in China, turned out to be the tricks of hackers who earned on the fall of the course!

You can not forbid something that you can not even hold in your hands 

I don't think so.
The downtrend will continue. Because of Tet holiday of Asian people.
All Asian people want to sell bitcoin for their holiday.

May be in March, bitcoin can grow again.

I agree with downtrend. Uptrend will happen if have good news with government!

[metenjean]

Couldnt agree more, the price has found support in $7k range however we need more confirmation to define if the downtrend has reversed and in this case we need to see the price break $9,5k trendline for short term trading and retest back into $8,5k which will be the the second buy setup i've been waiting since buying in $7k area. This however only confirm that the trend will gain slight momentum towards $10k area. The price needs to break around $12k area to totally regain the upwards momentum and starting the bullish trend. Stoploss set below $5.9k but noted this review and suggestion didnt intended for choppytraders 

Ranging price between $6k - $7,5k so there will be my most buying position and limit setup and anywhere below $6k will be my stoploss, need to see more closing candle confirmation, mostly done by using line chart.

Here is the 4H chart with the same trendline which conform the downtrend still in play with some pullback momentum upwards, however this doesnt mean the trend has changed. However we need to know that bitcoin movement is the most volatile and trend can be changed in days countdown and not weeks or months 

The biggest problem is goverment. Downtrend will be continue...

Fundamentally speaking government and taxing will be the problem since last year even before bitcoin booming into mass outburst last december and as i say the downtrend still in play and the price need to break a few levels to conform uptrend movement however the price already found support around $6k - 7k which is i think normal price because its the price when China start banning bitcoin last october if i'm not mistaken and the price still thrive, and if you read the news around that India and russia are starting to implement cryptocurrencies tax, which means that they start recognizing bitcoin and because they cant control the mass overflow of it, why dont they reap some fee from the transaction itself moreover because it happens in their own countries with their own countrymen.

Looking from these perspective as such big and powerful country started to legalize bitcoin in an economic way which generated income tax, i'm sure other countries will follow and its just a matter of time 

[Alex_nutis]

On the lateral movement the purchase is holding and it seems that there will be an attempt to bring prices to 9,000 in the next 1-2 days. Then the resistance line will work and with a high probability we will go again to test the bottom. Hence, a second vertex (double bottom) will appear or minimum will be updated with an output of 5500 and possibly lower. All the altcoins follow BTC. Don't expect miracles from them.

[snowblack]

On the lateral movement the purchase is holding and it seems that there will be an attempt to bring prices to 9,000 in the next 1-2 days. Then the resistance line will work and with a high probability we will go again to test the bottom. Hence, a second vertex (double bottom) will appear or minimum will be updated with an output of 5500 and possibly lower. All the altcoins follow BTC. Don't expect miracles from them.

Today bitcoin still 8k3. Don't have any signal

[shulio]

The price must pass the 9500 dollars, otherwise we can not say that we are in a mid term bullish trend.

[Kidmat]

On the lateral movement the purchase is holding and it seems that there will be an attempt to bring prices to 9,000 in the next 1-2 days. Then the resistance line will work and with a high probability we will go again to test the bottom. Hence, a second vertex (double bottom) will appear or minimum will be updated with an output of 5500 and possibly lower. All the altcoins follow BTC. Don't expect miracles from them.

Today bitcoin still 8k3. Don't have any signal

I think we can still experience of a downtrend anytime. Let's see if the resistance will not break or will not continue to subside. It will take time that we can see of bull trend from this time.

[ipbitrung01]

Couldnt agree more, the price has found support in $7k range however we need more confirmation to define if the downtrend has reversed and in this case we need to see the price break $9,5k trendline for short term trading and retest back into $8,5k which will be the the second buy setup i've been waiting since buying in $7k area. This however only confirm that the trend will gain slight momentum towards $10k area. The price needs to break around $12k area to totally regain the upwards momentum and starting the bullish trend. Stoploss set below $5.9k but noted this review and suggestion didnt intended for choppytraders 

Ranging price between $6k - $7,5k so there will be my most buying position and limit setup and anywhere below $6k will be my stoploss, need to see more closing candle confirmation, mostly done by using line chart.

Here is the 4H chart with the same trendline which conform the downtrend still in play with some pullback momentum upwards, however this doesnt mean the trend has changed. However we need to know that bitcoin movement is the most volatile and trend can be changed in days countdown and not weeks or months 

The biggest problem is goverment. Downtrend will be continue...

In recent days, bitcoin prices have started rising again but we can see the past two days bitcoin prices are leveling off and can not pass the threshold $ 8300. That happened to sellers are much stronger than buying power, and bitcoin prices for the whole day. This is a bad signal, there is a risk of bitcoin will continue to decrease in the coming days.

[FrueGreads]

Looking at the BTC/USD price at Gdax, on the daily and the 4h time frame, I would say that everything bellow $12k is still a lower high, and we need to break that level in order to prove that the bulls are back in action. I think the markets will slowly recover by forming higher highs and higher lows from the current levels until a clear break from the $12k happens. I expect some small pullbacks after crossing the $9500 and the $10.200 level. This should be good because this way bitcoin will be building support on it's way up. I prefer this kind of sustainable and healthy increase, being done at a small pace, than a huge bull run, that will then call for a massive correction.

[niteroy]

Analysis of searches in Google indicates that the Downtrend on the price bitcoin may have reached the lower threshold, and can again to turn around to the side of growth. Price bitcoin reached a record Heights in the middle of December, approaching to the level of a 20,000 dollars. Schedule searches on bitcoin also reached a peak values in the same time. Data last January assumed sudden and a quick growth. Forecast was true, even if short calm in the first two months (similar to the fact that we are seeing now). Analysts said searches, now we see the repetition of last year's trend. Graph shows turn to the side of growth in February. Thus, if you believe that the price of bitcoin formed in part, on the basis of the level of public interest in the phenomenon, the high probability that bitcoin can beat the new records in next few months, according to some predictions analysts.

[Miracleismyidol]

The cryptocurrency is finding buyers at lower levels who are using the sharp plunge in prices to buy for the long-term.
So, is the downtrend over or will the market resume its fall after a short pullback?

During a strong downtrend, a 1 to 3-day pullback can be expected. The counter-trend move usually faces selling at the 20-day EMA or at previous supports, which now act as resistance.
The BTC/USD pair is likely to face resistance at $9,500, which was the high on February 3. Above this, a move to $9,920 can’t be ruled out, but we expect the range of $9,920 to $10,700 to act as a strong resistance.

I believe that the cryptocurrency will turn down from one of the above-mentioned levels. If the retest of the lows is successful, i may add long positions for the long-term.

If the lows break, i’ll have to wait for a few more days.   

The market in recent days is fluctuating constantly and very hard to predict, today can see the bitcoin price reached $ 9000 but then immediately fell back strongly. We can see the current price of bitcoin is only $ 8100, with the current strong selling power, I believe that bitcoin prices will continue to decline in the next few days. The bitcoin price will reach $ 6800 in the coming days.

[MURONDI]

I think bitcoin is still in downward trend, I hope the price can go back up as before, I was stuck in the price of $ 1100, expect the storm to pass.. 

[Tynovten_]

All hopes btc soon will end and up again, yes but this few days i see resistance at 9k but is still down. It's difficult to predict in the current circumstances. And today i'm going to put up 7.5k net and i think it's already the lowest number to up again.

[Nerman]

Yes Bitcoin is still a downtrend but and $8,000 support level is being tested again. I hope the $8,000 support will hold. If it does not hold it may go back again to the $6,000 area. As of now I do not see any price rise for Bitcoin, almost all indicators are still bearish.

[Osaid1]

It will stay down till 16th Feb maybe due to the Chinese new year (might go down more), that is what I think + many people are talking about it.

[Sept93]

It will stay down till 16th Feb maybe due to the Chinese new year (might go down more), that is what I think + many people are talking about it.

Yes, China is a biggest country invest to coin. So their holiday is problem that make bitcoin downtrend.