What is going on with this 11k ceiling

[Walrus1]

Btc seems to run out of steam at 11k. What do you think? Is this where the whales want it

[sorrysteve1]

Btc seems to run out of steam at 11k. What do you think? Is this where the whales want it

Round number syndrome. There's nothing much more to it, the previous ceiling was at around 12k which was actually a strong resistance. When the price dipped towards the support of 9k many will have bought and they'll now be taking their profits. The price actually broke 11k briefly. We will see resistance at almost all whole numbers (thousands) until we reach the previous ATH or at least over 15k.

[Suharti12]

Be patient for a while bitcoin is still too stable to place the price there, and I believe it will soon jump that 11k price further.

[imapessimist]

I think a lot of people sell at 11k because it's a good price for the last few weeks.  Bitcoin did go up to 20k but for a very very short time.  People are taking a profit at 11k I suppose because the chances are it will drop again below that and then allow them to buy back cheaper. 

[Blackrain13]

Btc seems to run out of steam at 11k. What do you think? Is this where the whales want it

           Bitcoin price is  quite stable now at $11,000 ,but still need patience to wait because i believe it will increase soon and not stuck up to that price. But it is good for those people who are not after gain more profit if they buy their bitcoin at $8000 before when bitcoin drop then sell now at the price of $11000 .

[idgaf007]

It is just a temporary resistance. It is just a matter of time until we break it in my opinion. people are trying to maximize the price movement and some are still filling their bags for the next bitcoin bullrun. Im excited because bitcoin just did a full healthy correction so end of 2018 might be great for us.

[TepungBeras]

It's true that at the moment the bitcoin price is a bit more difficult to surpass the price at 11k, I think soon it will all be visible and we can see bitcoin at $ 50,000. Just wait and I believe it happened.

[patispace]

I think you should not worry so much about this stable behavior in the price of bitcoin. After the great panic experienced in recent days, when everyone assumed that the death of bitcoin was close, it is natural that many people have lost confidence in the cryptocurrencies and are taking their investments to safer options. On the other hand, it is enough to observe the performance of bitcoin in 2015 and 2016 to realize that in general terms bitcoin is quite stable in its behavior, and 2017 was no more than an exception.

[richminded]

Btc seems to run out of steam at 11k. What do you think? Is this where the whales want it

Just be more patience, bitcoin will surpass that resistance I believe on that. There's a huge volume coming to beat that for sure, whales whats bitcoin to go up now because we experience bid dump already. Let's wait for days and if bitcoin will not break that level for sure it will dump a little and try again to go higher.

[Lovecove]

There are lots of factors if you're asking whether BTC will break out of 10.6k – 11k in the short term. The first factor is the fact that we're currently approaching the weekend. And historically, bitcoin falls during the weekend.

You also have to take into account that it's currently a month or so from tax filing. I know that the US is not the crypto world, but people are usually busy tallying up their gains and losses and don't have time to manage their investments. I'd say that the US pools a lot of money into bitcoin, so if everyone in the US is too busy to pay attention to their bitcoin during tax season, then the price can't really hype too much. Then again, I could be wrong.

Another factor is that bitcoin just got justed. No one wants to buy into crypto after witnessing that dip to 5.9k? Remember that people who bought in December were mostly new to crypto, and having experienced that dip... I'm not sure if some held... and the reality of bitcoin's volatility hit them hard. So that's another thing. There's now a fear atmosphere around bitcoin's price.

[Jating]

Btc seems to run out of steam at 11k. What do you think? Is this where the whales want it

Maybe its just another resistance that we need to break through. however as per coinmarket the price is $10988. So I guess its gonna be a long day for us to see and observed if we can break this wall again and test $12K. Maybe a lot of investors are simply dumping and cashing it out because its weekends, wherein there are really serious selling because someone will not to go on a weekend get away and needed money.

I think a lot of people sell at 11k because it's a good price for the last few weeks.  Bitcoin did go up to 20k but for a very very short time.  People are taking a profit at 11k I suppose because the chances are it will drop again below that and then allow them to buy back cheaper. 

Yeah, because I'm quite surprise to wake up and see the price hit $11K today. But then again those who are selling might be afraid that it will go down just like we have seen in previous weeks. We have built some of kind of momentum at $11,7K but suddenly plummeted below $10K. So now investors are getting out early and taking profits and will just re enter the market when the prices goes down again.

[Karavadinos]

Btc seems to run out of steam at 11k. What do you think? Is this where the whales want it

After the hit that bitcoin took from the unbearable slow transactions with high miner fees, people have started investing a lot in the altcoin market and especially ICO's which have become a multi million dollar industry that proves to be very profitable, and now even though the bitcoin transactions have returned to normal, the market is still slowly recovering because many people still have their investments in the altcoin market, but it won't be too long before it starts rising up again.

[bungutko]

Btc seems to run out of steam at 11k. What do you think? Is this where the whales want it

After the hit that bitcoin took from the unbearable slow transactions with high miner fees, people have started investing a lot in the altcoin market and especially ICO's which have become a multi million dollar industry that proves to be very profitable, and now even though the bitcoin transactions have returned to normal, the market is still slowly recovering because many people still have their investments in the altcoin market, but it won't be too long before it starts rising up again.

In the coming weeks, I think bitcoin will surpass the resistance as what is happening in the current situation where this will stabilize and continue to move higher soon. Since the current market is almost going to 11K USD, perhaps this will be gaining more momentum to speed up its recovery and hoping it will so that investors will be achieving good profit soon.

[Manoharachan]

Bitcoin is still relaxed at the 11k price, and this is still a good opportunity to buy bitcoin at current prices, before we are late the price becomes a high rise to the moon.

[buytheeffinD]

It can't moonshot and breakout every time it hits 11k now can it? I can't give you the reason for why it consolidates this long, but I would tend to think it has to do with smart money wanting it this way. Generally they have a hand in keeping the markets where they are, or running them up.

[allycn]

2017 saw a major bull run (it started at barely 1K and went all the way to almost 20K). If you look at previous years / prices it took BTC almost 3 years (from January 2014 when it hit USD 1,023) to finally break the 1K mark again (in 2013 it also reached $1,216), so to me it makes sense for it to be struggling to get past the 10K/11K ceiling right now.

[Machine Funk]

I don't think it is a bad thing. It is nice to see some stability after that massive drop in price we experienced.

Btc seems to run out of steam at 11k. What do you think? Is this where the whales want it

After the hit that bitcoin took from the unbearable slow transactions with high miner fees, people have started investing a lot in the altcoin market and especially ICO's which have become a multi million dollar industry that proves to be very profitable, and now even though the bitcoin transactions have returned to normal, the market is still slowly recovering because many people still have their investments in the altcoin market, but it won't be too long before it starts rising up again.

I also think some parts of the market are much more stable. I like how crypto is working. I love the stability it is much better.

[Walrus1]

Well for a day or so we have been hanging around a bit over 11k. Building a base can be a good thing, let's see what happens next

[Baofeng]

Well for a day or so we have been hanging around a bit over 11k. Building a base can be a good thing, let's see what happens next

Most probably investors are also waiting to see what will be the movement after breaching $11K. At the moment it looks like it is still holding and fluctuating from $11.3-$11.4. So I'm a little bit nervous because we have seen previously that it didn't hold that much. I hope that there will be no selling for quick profits, but instead a steady growth and test if we can get to $12K and then see how it goes.

[FrueGreads]

Btc seems to run out of steam at 11k. What do you think? Is this where the whales want it

Although I do believe there are a lot of bots in bitcoin trading, I don't think that anyone is trying to keep the price at that level on purpose. It's just that the majority of transaction is done by traders right now, and there is a big resistance level very close to $12k. If you look at the daily charts, you will see that that level has been tested way to many times, but it's always bouncing back from there. Traders are still gaining confidence, in the market again, and are slowly making the 12 and 26 EMA (exponential moving averages) their support lines, which is a bullish sign.

I think that $11775 is the key level to beat. If we break and hold above that level, we will break $12k as well, use it as our new support level.