Why we may be stuck in the current range for long

[shursight]

Then you are a scared badass, this is not new in here, and trust me, i am more that used to see this kind of thing in bitcoin, i have been in here for years.

Considering that your account is kinda new, if you are always going to be like this, then please, leave crypto,
you are gonna be useless.

I also fear this. I'm afraid though that because of the lack of going up, more and more people lose interest and many might sell off, allowing a dump to $6000 or something. That better not happens.

[BitcoinCommodor]

I would have to disagree that the resistance at 12k is "an impenetrable selling wall".

I don’t believe 12k is a barrier either.

Trading isn't about predicting which way it will breakout but rather recognising it when it happens and then reacting quickly to that.

I rather believe technical analysis is more useful to understand the past. Trading predictions massively fail, and that’s why 95% of traders lose money, but when you say traders recognize a pattern and react, I think they contribute to the changes: they believe it will go up, thus, they buy, and price goes up. They believe it will go down, they start selling and more panic comes, dragging down the price.

The title itself it’s quite revealing “Why we may…” So, I think we may or may not.

Yeah, and that is a big may. Every reaction in the market today is cause generally by trader and basically whales. The general day trader are just there to respond to how the market is being perceived at that point in time which is one of the reasons I will always say it is still a controlled market anyway, since whales can decide to push it how they want since we are still in a speculative era. $12k may be a strong resistance but some fundamentals can throw it out of the way, but we have none of those for now.

[Hell-raiser]

Unless we will have some positive news I doubt that bitcoin price will soar again - we are now entered a deep bear market.
I cannot remember what was a truly positive bitcoin news in mainstream media in 2018 - we only keep hearing about negative things related to BTC.
But honestly, the current price is still better than most people expected we could have prior to that manic rush in December 2017.

Right, the banning news doesn't seem to end and this is is greatly affecting the market prices. I hate to admit it but I am getting worried about my investments and I know that I am not the only one. We really need some good news about bitcoin or cryptos and I hope that it will be this week. The market prices are going on red and I don't want to think that we may be staying at this state for a long time. I know that after dumps, bitcoin and other cryptos will regain their high prices.

You should trust the dude above who is a pro-trader (well, at least this is what he claims himself). And he says that we will soon see a sort of short squeeze due to shorters closing their positions in panic. That should give Bitcoin prices a phenomenal boost, according to him. Personally, I believe it is not gonna happen in the foreseeable future, but I'm not claiming to be a pro, so my opinion kind of lacks enough weight and self-righteousness.

[TheQuin]

You should trust the dude above who is a pro-trader (well, at least this is what he claims himself). And he says that we will soon see a sort of short squeeze due to shorters closing their positions in panic. That should give Bitcoin prices a phenomenal boost, according to him. Personally, I believe it is not gonna happen in the foreseeable future, but I'm not claiming to be a pro, so my opinion kind of lacks enough weight and self-righteousness.

One day you hopefully will learn to read.

I said that was one of two possible scenarios and ruling it out as you did in your OP was wrong.

Now it seems that 12k turned into an impenetrable selling wall which will be hard to crush because those who bought at that and higher levels will now be trying to close their positions at all costs. And the longer we stay at sub-10k levels, the more resistance will be building above 10k.

This is what I disagree with. No support or resistance is impenetrable, it is simply the price the market changed direction before. It is a number traders will make a note of and see what happens if price revisits it. Will the sellers still be there or not? We have no way of knowing that. It is a very simple lesson in trading that I was trying to share. I'm sorry that it is beyond your comprehension skills to understand it. That should already have been obvious from the way you couldn't grasp what that CCN article said and failure to understand the definition of the word professional.

[rickadone]

I think we will stuck for this price range for long if there will be no other investors are interested or attracted to bitcoins because other bitcoin investors already dump some of their bitcoin as they buy it for alt coins.

I am not sure you have checked the altcoins to see how bad most of them have been beaten as a result of bitcoin's drop in price and if anyone feels they cannot get from bitcoin what they could get from altcoins, then, they are free to go stick with their pump and dump coins. We cannot say what will be happen at any time, but we can only know what will happen when the time comes but I guess we will have to wait and see how stuck we are as time goes on.

[Hell-raiser]

You should trust the dude above who is a pro-trader (well, at least this is what he claims himself). And he says that we will soon see a sort of short squeeze due to shorters closing their positions in panic. That should give Bitcoin prices a phenomenal boost, according to him. Personally, I believe it is not gonna happen in the foreseeable future, but I'm not claiming to be a pro, so my opinion kind of lacks enough weight and self-righteousness.

One day you hopefully will learn to read.

I said that was one of two possible scenarios and ruling it out as you did in your OP was wrong.

Now it seems that 12k turned into an impenetrable selling wall which will be hard to crush because those who bought at that and higher levels will now be trying to close their positions at all costs. And the longer we stay at sub-10k levels, the more resistance will be building above 10k.

This is what I disagree with. No support or resistance is impenetrable, it is simply the price the market changed direction before. It is a number traders will make a note of and see what happens if price revisits it. Will the sellers still be there or not? We have no way of knowing that. It is a very simple lesson in trading that I was trying to share. I'm sorry that it is beyond your comprehension skills to understand it. That should already have been obvious from the way you couldn't grasp what that CCN article said and failure to understand the definition of the word professional.

Personally, I'm not interested in your postings here or anywhere. It feels like I'm talking to a 15 year old who is highly extremely insecure, overwhelmingly fixated on what people might think of him, and pathologically obsessed with proving his point at all costs, no matter how disconnected it is from reality. In short, try proving your point to the market first since this is what ultimately counts. There's no need to prove it here, which you seem to not understand.

[TheQuin]

Personally, I'm not interested in your postings here or anywhere. I feel like I'm talking to a 15 year old who is highly insecure, overwhelmingly fixated on what people might think of him, and pathologically obsessed with proving his point at all costs, no matter how disconnected it is from reality. Try proving your point to the market first since this is what ultimately counts. There's no need to prove it here, which you seem to not understand.

Someone offers a different approach to reading the market so you set about telling them they are clutching at straws and then insulting them.

I had given up any hope of having a sensible conversation with you and was done with this thread. Then you post this.

You should trust the dude above who is a pro-trader (well, at least this is what he claims himself). And he says that we will soon see a sort of short squeeze due to shorters closing their positions in panic. That should give Bitcoin prices a phenomenal boost, according to him. Personally, I believe it is not gonna happen in the foreseeable future, but I'm not claiming to be a pro, so my opinion kind of lacks enough weight and self-righteousness.

If you are going to misrepresent what I said then I'm going to it point out.


Edit:
Bearing in mind your earlier statement you might want reading this: https://cointelegraph.com/news/breaking-trustee-of-infamous-mt-gox-denies-btc-bch-sales-affected-crypto-markets

[Intersan]

I also fear this. I'm afraid though that because of the lack of going up, more and more people lose interest and many might sell off, allowing a dump to $6000 or something. That better not happens.

Then you are a scared badass, this is not new in here, and trust me, i am more that used to see this kind of thing in bitcoin, i have been in here for years.

Considering that your account is kinda new, if you are always going to be like this, then please, leave crypto,
you are gonna be useless.

This kind of situations is totally normal in this community and this is definitely because of the volatility of the coins. I maybe worry about my investments too because of the market prices but not that much because bitcoin and other cryptos will get higher prices in the future. Digital coins are being a center of interest when it comes to online earning and we know that people kind of like that way of earning because of its convenience. It helps those who can't go to companies, firms, and etc. for income and in fact, it also attracts those who are already in the companies and firms because of possible higher income.

We don't have to be that negative when it comes to cryptos because they will eventually recover from these dumps. Bad news are circulating over the net but it is up to us if we will let those affect us and our way of thinking in cryptos.

[upsidedown75]

When Bitcoin was going to its ATH in December, many people here assumed that Bitcoin price wouldn't go below 12k. And at first it looked exactly like that. Bitcoin rebounded strongly at a little below 13k and went all the way up to 15-16k. Those who didn't believe in that theory finally became convinced and bought in when the price plunged again. And then we all know what happened. Bitcoin went as low as 6k. Now it seems that 12k turned into an impenetrable selling wall which will be hard to crush because those who bought at that and higher levels will now be trying to close their positions at all costs. And the longer we stay at sub-10k levels, the more resistance will be building above 10k.

[im g]https://i.imgur.com/wT4YPrK.jpg[/img]

So we are kinda stuck in this range of 8-11k.

We are trapped because there is a third party who wants us trapped. Bitcoin prices are currently unpredictable because the market is not running properly (controlled by a third party). But i'm very sure bitcoin will not slip to the same place that is $ 6,000.

Do not be sure of anything yet in this market bro, it is unpredictable and anything can happen at any time. What we have is the chart and that is what we are looking at to give us the signals to buy back in or to just keep stretching our hands and dipping it in the popcorn bag while watching how everything turns out. I would love the scenario of a double bottom playing out though.

[finzyoj]

Do not be sure of anything yet in this market bro, it is unpredictable and anything can happen at any time. What we have is the chart and that is what we are looking at to give us the signals to buy back in or to just keep stretching our hands and dipping it in the popcorn bag while watching how everything turns out. I would love the scenario of a double bottom playing out though.

When it comes to cryptos, assurance is nowhere to be assured. Because of the volatile market, we have, people keeps on being interested and at the same time is the reason why people are giving up and selling what they have. There is the may be in the We may be stuck in the current range because people keep on selling even if the price is dumping. We cannot control them on what they are going to do with their coins, it is theirs anyway, but somehow we can help by not being as negative as the others are. Yes, the price is dumping and it is a good chance to buy, other than that let us not try to add with all the negativity already existing.

[Kevin77]

Serious question, does G20 meeting will have any effect towards bitcoin price?

Maybe, maybe not. If it turns out to be positive and we get to see some huge interest from investors as a result of that, then we may see some positive improvement in the value of bitcoin, otherwise, I will decide to remain mute on what the outcome of a negative news can cause, but I really do not expect anything strange to happen anyway as I am sure there is a lot of enthusiasm by governments to regulate the space, so let's wait and see.

Positive news from G20 meeting may really be of great help right now but it just seems the market is just not ready to eve move from one spot but to just keep going down and maybe we may end up seeing a double bottom before a rise, no one knows but whichever way, let's see how the whole thing turns out. Negative news will be over when things start changing with regulation as most of them have actually been brewed from one government doing this or the other.

[buwaytress]

By definition, impenetrable means that it is conclusively not possible to breach... Even the biggest bear and disbelievers wouldn't put it beyond Bitcoin to at least make many more runs past 12k before its eventual fate is met.

We're all speculators in the end, regardless of our strongest beliefs in this thing that is Bitcoin. Every step of the way, it's been impossible to predict where the price would be in a week, month, year. I still harbour the highest hopes but I haven't been led away by the fact that Bitcoin can as easily arrive at 1 million as it can to zero.

Even if or when btc makes it past 12 k again, doesn't mean anyone's a genius or a fool, either. Just some of us get luckier.

[ssuchy]

Do not be sure of anything yet in this market bro, it is unpredictable and anything can happen at any time. What we have is the chart and that is what we are looking at to give us the signals to buy back in or to just keep stretching our hands and dipping it in the popcorn bag while watching how everything turns out. I would love the scenario of a double bottom playing out though.

When it comes to cryptos, assurance is nowhere to be assured. Because of the volatile market, we have, people keeps on being interested and at the same time is the reason why people are giving up and selling what they have. There is the may be in the We may be stuck in the current range because people keep on selling even if the price is dumping. We cannot control them on what they are going to do with their coins, it is theirs anyway, but somehow we can help by not being as negative as the others are. Yes, the price is dumping and it is a good chance to buy, other than that let us not try to add with all the negativity already existing.

I think that you can look at things from a different angle. I never took Bitcoin as a means of payment and could not predict such a fate for him. But to date, there is already information that many stores in Malaysia are accepting Bitcoin payments. This shows the real prospects of Bitcoin.

[Hell-raiser]

By definition, impenetrable means that it is conclusively not possible to breach... Even the biggest bear and disbelievers wouldn't put it beyond Bitcoin to at least make many more runs past 12k before its eventual fate is met.

We're all speculators in the end, regardless of our strongest beliefs in this thing that is Bitcoin. Every step of the way, it's been impossible to predict where the price would be in a week, month, year. I still harbour the highest hopes but I haven't been led away by the fact that Bitcoin can as easily arrive at 1 million as it can to zero.

Even if or when btc makes it past 12 k again, doesn't mean anyone's a genius or a fool, either. Just some of us get luckier.

Hey, guys, that was just a figure of speech, no need to tell me to consult the dictionary really. I was just pointing out and emphasizing specifically that 12k could become a new ceiling like 20k before. Does anyone of us earnestly believe that we will be able to get there again within months? And 12k may become as unreachable. Right now people talk of 20k with kind of awe, but if we continue to stay below 10k for longer, 12k may soon become as mythical.

[buwaytress]

By definition, impenetrable means that it is conclusively not possible to breach... Even the biggest bear and disbelievers wouldn't put it beyond Bitcoin to at least make many more runs past 12k before its eventual fate is met.

We're all speculators in the end, regardless of our strongest beliefs in this thing that is Bitcoin. Every step of the way, it's been impossible to predict where the price would be in a week, month, year. I still harbour the highest hopes but I haven't been led away by the fact that Bitcoin can as easily arrive at 1 million as it can to zero.

Even if or when btc makes it past 12 k again, doesn't mean anyone's a genius or a fool, either. Just some of us get luckier.

Hey, guys, that was just a figure of speech, no need to tell me to consult the dictionary really. I was just pointing out and emphasizing specifically that 12k could become a new ceiling like 20k before. Does anyone of us earnestly believe that we will be able to get there again within months? And 12k may become as unreachable. Right now people talk of 20k with kind of awe, but if we continue to stay below 10k for longer, 12k may soon become as mythical.

Hey OP, yeah, I think we knew, even though that's not really how figures of speech work

Months is a short-term view, but sure, I think we could see 12k once or twice this spring season. It's still too recent in my memory to consider it elusive. All it takes right now is a 30% jump in price from today's value, and we've seen that happen easily with Bitcoin in a matter of days... for reasons we'll all scramble to find if/when it does happen.

But yeah, some segments of traders might have entered a siege mentality, and if they believe they have to dig in, they'll maintain sandbags around 10k, not daring to cross over until they're sure they've got enough strength to power another bull run.

[Hell-raiser]

By definition, impenetrable means that it is conclusively not possible to breach... Even the biggest bear and disbelievers wouldn't put it beyond Bitcoin to at least make many more runs past 12k before its eventual fate is met.

We're all speculators in the end, regardless of our strongest beliefs in this thing that is Bitcoin. Every step of the way, it's been impossible to predict where the price would be in a week, month, year. I still harbour the highest hopes but I haven't been led away by the fact that Bitcoin can as easily arrive at 1 million as it can to zero.

Even if or when btc makes it past 12 k again, doesn't mean anyone's a genius or a fool, either. Just some of us get luckier.

Hey, guys, that was just a figure of speech, no need to tell me to consult the dictionary really. I was just pointing out and emphasizing specifically that 12k could become a new ceiling like 20k before. Does anyone of us earnestly believe that we will be able to get there again within months? And 12k may become as unreachable. Right now people talk of 20k with kind of awe, but if we continue to stay below 10k for longer, 12k may soon become as mythical.

Hey OP, yeah, I think we knew, even though that's not really how figures of speech work

Months is a short-term view, but sure, I think we could see 12k once or twice this spring season. It's still too recent in my memory to consider it elusive. All it takes right now is a 30% jump in price from today's value, and we've seen that happen easily with Bitcoin in a matter of days... for reasons we'll all scramble to find if/when it does happen.

But yeah, some segments of traders might have entered a siege mentality, and if they believe they have to dig in, they'll maintain sandbags around 10k, not daring to cross over until they're sure they've got enough strength to power another bull run.

It is not how words work, it is more how you perceive them. Of course, we could jump to 12k within a week or two and see that price once or twice the spring season. We can even break out of the resistance at that level a little. And then you can jump for joy and point a finger at me saying how wrong I was. But that's not the point. It is not like there's massive "impenetrable" resistance at 12k exactly and pure vacuum right after that. The resistance will likely surge exponentially past that figure. So, we could in fact end like seeing 12k once or twice but not much beyond that. Though I'd be glad to have myself proved wrong in a genuine way. Hope you now understand what I mean.

[atjiat]

By definition, impenetrable means that it is conclusively not possible to breach... Even the biggest bear and disbelievers wouldn't put it beyond Bitcoin to at least make many more runs past 12k before its eventual fate is met.

We're all speculators in the end, regardless of our strongest beliefs in this thing that is Bitcoin. Every step of the way, it's been impossible to predict where the price would be in a week, month, year. I still harbour the highest hopes but I haven't been led away by the fact that Bitcoin can as easily arrive at 1 million as it can to zero.

Even if or when btc makes it past 12 k again, doesn't mean anyone's a genius or a fool, either. Just some of us get luckier.

Hey, guys, that was just a figure of speech, no need to tell me to consult the dictionary really. I was just pointing out and emphasizing specifically that 12k could become a new ceiling like 20k before. Does anyone of us earnestly believe that we will be able to get there again within months? And 12k may become as unreachable. Right now people talk of 20k with kind of awe, but if we continue to stay below 10k for longer, 12k may soon become as mythical.

Hey OP, yeah, I think we knew, even though that's not really how figures of speech work

Months is a short-term view, but sure, I think we could see 12k once or twice this spring season. It's still too recent in my memory to consider it elusive. All it takes right now is a 30% jump in price from today's value, and we've seen that happen easily with Bitcoin in a matter of days... for reasons we'll all scramble to find if/when it does happen.

But yeah, some segments of traders might have entered a siege mentality, and if they believe they have to dig in, they'll maintain sandbags around 10k, not daring to cross over until they're sure they've got enough strength to power another bull run.

It is not how words work, it is more how you perceive them. Of course, we could jump to 12k within a week or two and see that price once or twice the spring season. We can even break out of the resistance at that level a little. And then you can jump for joy and point a finger at me saying how wrong I was. But that's not the point. It is not like there's massive "impenetrable" resistance at 12k exactly and pure vacuum right after that. The resistance will likely surge exponentially past that figure. So, we could in fact end like seeing 12k once or twice but not much beyond that. Though I'd be glad to have myself proved wrong in a genuine way. Hope you now understand what I mean.

I completely agree with you, we will not see more than 12,000 dollars further this year. There are some considerations about stabilizing the market, with today's price for Bitcoin. Because earlier all look like a soap bubble.

[Hell-raiser]

By definition, impenetrable means that it is conclusively not possible to breach... Even the biggest bear and disbelievers wouldn't put it beyond Bitcoin to at least make many more runs past 12k before its eventual fate is met.

We're all speculators in the end, regardless of our strongest beliefs in this thing that is Bitcoin. Every step of the way, it's been impossible to predict where the price would be in a week, month, year. I still harbour the highest hopes but I haven't been led away by the fact that Bitcoin can as easily arrive at 1 million as it can to zero.

Even if or when btc makes it past 12 k again, doesn't mean anyone's a genius or a fool, either. Just some of us get luckier.

Hey, guys, that was just a figure of speech, no need to tell me to consult the dictionary really. I was just pointing out and emphasizing specifically that 12k could become a new ceiling like 20k before. Does anyone of us earnestly believe that we will be able to get there again within months? And 12k may become as unreachable. Right now people talk of 20k with kind of awe, but if we continue to stay below 10k for longer, 12k may soon become as mythical.

Hey OP, yeah, I think we knew, even though that's not really how figures of speech work

Months is a short-term view, but sure, I think we could see 12k once or twice this spring season. It's still too recent in my memory to consider it elusive. All it takes right now is a 30% jump in price from today's value, and we've seen that happen easily with Bitcoin in a matter of days... for reasons we'll all scramble to find if/when it does happen.

But yeah, some segments of traders might have entered a siege mentality, and if they believe they have to dig in, they'll maintain sandbags around 10k, not daring to cross over until they're sure they've got enough strength to power another bull run.

It is not how words work, it is more how you perceive them. Of course, we could jump to 12k within a week or two and see that price once or twice the spring season. We can even break out of the resistance at that level a little. And then you can jump for joy and point a finger at me saying how wrong I was. But that's not the point. It is not like there's massive "impenetrable" resistance at 12k exactly and pure vacuum right after that. The resistance will likely surge exponentially past that figure. So, we could in fact end like seeing 12k once or twice but not much beyond that. Though I'd be glad to have myself proved wrong in a genuine way. Hope you now understand what I mean.

I completely agree with you, we will not see more than 12,000 dollars further this year. There are some considerations about stabilizing the market, with today's price for Bitcoin. Because earlier all look like a soap bubble.

Well, personally I don't believe in that stabilizing thing. So far the longer the price had been stable, the stronger was the next burst. Bitcoin and other cryptocoins are internally unstable because there is nothing that would make them stable. Major fiat currencies have whole economies backing up the value of a currency. Bitcoin's value, on the contrary, depends entirely on speculators interest. It is interesting that a couple years ago this thought would have met a strong opposition but by now oppositionists seem to gave died out already.

[Coffee135]

By definition, impenetrable means that it is conclusively not possible to breach... Even the biggest bear and disbelievers wouldn't put it beyond Bitcoin to at least make many more runs past 12k before its eventual fate is met.

We're all speculators in the end, regardless of our strongest beliefs in this thing that is Bitcoin. Every step of the way, it's been impossible to predict where the price would be in a week, month, year. I still harbour the highest hopes but I haven't been led away by the fact that Bitcoin can as easily arrive at 1 million as it can to zero.

Even if or when btc makes it past 12 k again, doesn't mean anyone's a genius or a fool, either. Just some of us get luckier.

Hey, guys, that was just a figure of speech, no need to tell me to consult the dictionary really. I was just pointing out and emphasizing specifically that 12k could become a new ceiling like 20k before. Does anyone of us earnestly believe that we will be able to get there again within months? And 12k may become as unreachable. Right now people talk of 20k with kind of awe, but if we continue to stay below 10k for longer, 12k may soon become as mythical.

Hey OP, yeah, I think we knew, even though that's not really how figures of speech work

Months is a short-term view, but sure, I think we could see 12k once or twice this spring season. It's still too recent in my memory to consider it elusive. All it takes right now is a 30% jump in price from today's value, and we've seen that happen easily with Bitcoin in a matter of days... for reasons we'll all scramble to find if/when it does happen.

But yeah, some segments of traders might have entered a siege mentality, and if they believe they have to dig in, they'll maintain sandbags around 10k, not daring to cross over until they're sure they've got enough strength to power another bull run.

It is not how words work, it is more how you perceive them. Of course, we could jump to 12k within a week or two and see that price once or twice the spring season. We can even break out of the resistance at that level a little. And then you can jump for joy and point a finger at me saying how wrong I was. But that's not the point. It is not like there's massive "impenetrable" resistance at 12k exactly and pure vacuum right after that. The resistance will likely surge exponentially past that figure. So, we could in fact end like seeing 12k once or twice but not much beyond that. Though I'd be glad to have myself proved wrong in a genuine way. Hope you now understand what I mean.

I completely agree with you, we will not see more than 12,000 dollars further this year. There are some considerations about stabilizing the market, with today's price for Bitcoin. Because earlier all look like a soap bubble.

Well, personally I don't believe in that stabilizing thing. So far the longer the price had been stable, the stronger was the next burst. Bitcoin and other cryptocoins are internally unstable because there is nothing that would make them stable. Major fiat currencies have whole economies backing up the value of a currency. Bitcoin's value, on the contrary, depends entirely on speculators interest. It is interesting that a couple years ago this thought would have met a strong opposition but by now oppositionists seem to gave died out already.

Bubble or not, it doesn't matter. Bitcoin really helps many people to earn big money so it has the right to exist. For me, Bitcoin is a tool that everyone uses for their own purposes. Speculators really constantly inflate and burst bubbles. But there are many people who buy bitcoin for long lasting hold. For them, bitcoin is not a bubble and without sterilizing so many coins, speculators would not have such opportunities.

[spikyz]

understand the point. however we also cannot totally rules out that some percentage of the buyer are in for the quick profit. be it thru ico, or thru trading, and these people are the first one that will jump out of the ship when SHTF