BTC breakout

[lablab03]

This your prediction has come to pass and we have taking advantage of it to make some money. Bitcoin has make significant progress since the beginning of this week till now and this morning I can see that it above $11,000. I think bitcoin is going to have another great progress that will push bitcoin above $20,000  that might trigger another bullish trend that will make December high a child play.

As of now the price is decreasing and i think after this scenario it will continue to push and it will surge more than our thoughts and in my prediction 25k is enough to reach before the end of March.  'cause it's always happened which is after the fluctuation it will continue to climb then after the all time high value it will fall.  So i have doubts it will soar again Lets wait for it.

[1714620476]

1714620476

[Crytptohack]

That $11700 barrier was really a tough nut to break it. We have been tested that price already like twice in the last two weeks, but we can't really get over it resulting to the price going downtrend last week. But its good to see that you chart was a good guide to see where the price would go. Currently we are just a shade above $11,000 so its another wait and see scenario. Bulls vs Bears will fight it out and let's see it we could at least get near the $11,700 levels and see it we can break it this time, otherwise it will be just a repeat of the previous week's, back to square one, moving up slowly and testing new psychological barriers. It will be exciting though to see break $11,700 and see it if can be sustainable. If it did hold and sustained at the levels then $15K will be next.

It appears that there is definitely a fight between the bulls/bears at this price level. In general when there is a technical breakout, the bulls usually jump on the train and push it higher.  Still waiting for that to happen... 11.7k will be a test for sure.

[Crytptohack]

BTC broke above the 9017 resistance point which was a low produced on January 17th, 2018 from the GDAX exchange.  

The next resistance level is 9499 which was a high point on Feb 3rd before the last drop.

Why is this important?  Because BTC will be producing higher highs and higher lows which is the definition of an uptrend. This suggests that the previous low MAY have been the bottom price for 2018.

I say _may_ because BTC is still in the downwards trend channel. Once it breaks out an over the upper trend line, I speculate that it's off for a bullish (and volatile) run for 2018.

This your prediction has come to pass and we have taking advantage of it to make some money. Bitcoin has make significant progress since the beginning of this week till now and this morning I can see that it above $11,000. I think bitcoin is going to have another great progress that will push bitcoin above $20,000  that might trigger another bullish trend that will make December high a child play.

I'm glad the analysis helped you. It's going to be a little bit of a struggle for the bulls at this level which has been apparent based on the chart. Once it breaks 11.7K for a few days, it should continue a volatile bullish run in 2018.

[richardsNY]

It appears that there is definitely a fight between the bulls/bears at this price level. In general when there is a technical breakout, the bulls usually jump on the train and push it higher.  Still waiting for that to happen... 11.7k will be a test for sure.

This 'fight' is a pretty normal event considering that there isn't anything hinting at a further increase yet. If we look at the last weeks, it's a positive development that the demand keeps pushing the price back to +$10k levels, which is a great sign. The only thing lacking is the actual incentive to support $10k in order to have it form a base support level. I like the silence in mainstream media land when it comes to them spreading fud. I have even noticed a slight positive tone when it comes to crypto, which once again shows how they surf on Bitcoin's movements to push articles and reports online. My impression -- Bitcoin moving down was due to government cracking down on Bitcoin, and Bitcoin moving up is governments being more open to fairly regularly this market.

[richminded]

I'm glad the analysis helped you. It's going to be a little bit of a struggle for the bulls at this level which has been apparent based on the chart. Once it breaks 11.7K for a few days, it should continue a volatile bullish run in 2018.

Technical analysis works for me too, this is my saviour and traders or even hodlers should know this thing. It seems like the volume of bitcoin every time it hit $11k are getting weaker but I believe it can break that level in the coming days, so be patient and bitcoin will fly high again.

[Crytptohack]

I'm glad the analysis helped you. It's going to be a little bit of a struggle for the bulls at this level which has been apparent based on the chart. Once it breaks 11.7K for a few days, it should continue a volatile bullish run in 2018.

Technical analysis works for me too, this is my saviour and traders or even hodlers should know this thing. It seems like the volume of bitcoin every time it hit $11k are getting weaker but I believe it can break that level in the coming days, so be patient and bitcoin will fly high again.

BTC is going to break 11.7K this month IMO and produce higher highs based on the technicals of the chart. Some fundamentals apply like mass adoption, but I think the technicals rule this market.

Regarding mass adoption, there is Metcalfe's law which states 'the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2)'.  With worldwide adoption of BTC, the user base continues to grow, so the value should continue to go up...  HodL'ing long term is a good idea as BTC has not seen complete mass adoption yet...