BTC rally started to 17k?

[flashmark]

After a nice bounce back in 78.6 fib level and 300 sma (BTC price was 7300), BTC gain around 2k in last 48 hours.
According to the TA, again BTC retest the support at 200 sma which is at 8800. Now  current wave will try to break 11800 (previous high) in next couple of days. I'm expecting some sidayway patterns before that. If BTC closes above 12200 in daily chart, I think that is the end of bearish trend we will see BTC rally to 17k before next correction.

What do you think about this analysis?

[Reatim]

After a nice bounce back in 78.6 fib level and 300 sma (BTC price was 7300), BTC gain around 2k in last 48 hours.
According to the TA, again BTC retest the support at 200 sma which is at 8800. Now  current wave will try to break 11800 (previous high) in next couple of days. I'm expecting some sidayway patterns before that. If BTC closes above 12200 in daily chart, I think that is the end of bearish trend we will see BTC rally to 17k before next correction.

What do you think about this analysis?

Well we still not solid at around $9K and seeing some minor sell orders so I don't know if we can go and break the previous highs of $11700. Although I'm surprised to see it break $9K earlier and I didn't expect it to be done this early, so its possible that this is just a mental barrier that we need to break and maybe in the next 48 hours we will see the price going $9500.

[MostafaGamal]

I think the 9000-9200 resistance needs a positive momentum and a good news to get around 11700 then we will also need something positive in order to jump to 14000

[Mometaskers]

I think the 9000-9200 resistance needs a positive momentum and a good news to get around 11700 then we will also need something positive in order to jump to 14000

I haven't been watching but was the G20 positive about bitcoin? The last thing I remember in the news last month was the the EU central bank want the summit to discuss cryptos. I think I saw a bit on TV earlier that the G20 want some regulations passed by July.

[daarul50]

I do not really understand the analysis of the chart movement of the bitcoin price fluctuations, but I believe that your analysis will happen because I'm tired of seeing the bitcoin price movement in the ever-declining market. I believe prices will not always decline and an upsurge will occur if we look at bitcoin prices a year ago which always rises when the end of March. Hopefully, your analysis is correct and if yes then everyone will be grateful to you who have shared the analysis.

[pumbum]

at such moments, I think it makes sense to evaluate only volumes on different exchanges. It is the technical analysis very bad work on finding a rebound, but works well in unidirectional trend, for example for sale and buy at cheaper price. I currently do not exclude the possibility of return at around 7300 to confirm this support level, because there was a serious volume. If it can withstand, and again bounce back and linger at least 1 week above the level of 10,000 (psychological mark) in this case, we can hope for a breakdown of the bearish trend.

[adecryptokoin]

I am not sure whether this technical analysis is always working for bitcoin.

[lillyann]

These are all just guesses. BTC is now very unpredictable and all cryptocurrencies are dragged behind. It's hard to predict how it will behave at the end of the year ...

[crypto_mastermind219]

whoever deposited and still buying bitcoin, i can say that, they will get big amount of profit within a month,bitcoin will go higher and will be double than present price.so, buy more.

[AntonDrobot]

The market of crypto-currencies continues to demonstrate a panicky character of the dynamics.

[Digital Mutant]

I think the 9000-9200 resistance needs a positive momentum and a good news to get around 11700 then we will also need something positive in order to jump to 14000

I haven't been watching but was the G20 positive about bitcoin? The last thing I remember in the news last month was the the EU central bank want the summit to discuss cryptos. I think I saw a bit on TV earlier that the G20 want some regulations passed by July.

at the moment G20 stated that they doesn't see any reason to regulate crypto...

"Crypto-assets do not pose risks to global financial stability at this time” -- Mark Carney, Chairman of the G20's Financial Stability Board

[easybtcearn2017]

It may take a little more time to jump to that high, to my sense. But it is in positive momentum right now. Yeah, there is possibility, nonetheless.

[nguyenvanchuong]

Based on what I have learned and researched, I think the price of bitcoin will drop to 7k. It will happen in about 10 days.

[bitcoinisbest]

Based on what I have learned and researched, I think the price of bitcoin will drop to 7k. It will happen in about 10 days.

Considering the past couple of weeks after reaching 9k mark it does fall back in 7k ranger and this has happened couple of times. So might not be false to say that if it can fall further from current price to down in 7000$ and again rise back to 9000$. Lets keep the fingers crossed that it does not happen this time and keep rising to above 10k.

[BelieveInBTC]

I have to agree that we had many positive news about Bitcoin in the past weeks. I wouldn't be surprised if we got back to 20 thousand dollars by the end of March. Short traders are probably happy because they could earn a lot of money on Bitcoin in the last 3 months. I'm too afraid of loss to try short trading. I believe that Bitcoin is sometimes unpredictable which means that it might vastly increase or decrease anytime.

[elston6x]

I think the 9000-9200 resistance needs a positive momentum and a good news to get around 11700 then we will also need something positive in order to jump to 14000

I haven't been watching but was the G20 positive about bitcoin? The last thing I remember in the news last month was the the EU central bank want the summit to discuss cryptos. I think I saw a bit on TV earlier that the G20 want some regulations passed by July.

May be more excited than this with this announcement. This is the first move for the Bitcoin market to stabilize and be valid until June, July. Investors are completely convinced that it is an indispensable trend!

[semobo]

Still the price of bitcoin is too volatile can't predict anything for now so it is better to buy more bitcoins as much as can and wait for that bump to happen.I hope bitcoin will hit $20K again by end if this year.

[Mometaskers]

I think the 9000-9200 resistance needs a positive momentum and a good news to get around 11700 then we will also need something positive in order to jump to 14000

I haven't been watching but was the G20 positive about bitcoin? The last thing I remember in the news last month was the the EU central bank want the summit to discuss cryptos. I think I saw a bit on TV earlier that the G20 want some regulations passed by July.

at the moment G20 stated that they doesn't see any reason to regulate crypto...

"Crypto-assets do not pose risks to global financial stability at this time” -- Mark Carney, Chairman of the G20's Financial Stability Board

Great then. The previous announcement from their central bank made some people nervous. At least they saying it's unlikely to cause a meltdown means one less reason for hates to bad mouth btc.

[redsun114]

Based on what I have learned and researched, I think the price of bitcoin will drop to 7k. It will happen in about 10 days.

Market analysis and the chart analysis are the only things which can help you in having a fair idea about the behavior of the market and even then, you can’t be sure about your prediction that whether you have predicted the right thing or not.

However, there are likely chances of the increase in the market value of the bitcoin in the next few days and that it will bring lot of good news for the ones holding it.

[easybtcearn2017]

It may take a little more time to jump to that high, to my sense. But it is in positive momentum right now. Yeah, there is possibility, nonetheless.