Is Bitcoin Preparing for a Huge Breakout?

[boy130]

We have been seeing a narrowing of the price range in the last week or so, gradually inching its way back to $7,000. But let's not forget, last week we were in the exact same position then it dipped back into mid $6,000's. We are probably developing towards a new support level, probably somewhere around $7,500. If this level is broken, we may see a new bull run.

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[bungutko]

I understand that bitcoin price had stuck below $7K USD in the past several weeks had passed and the probability of price to shoot up is very possible to happen and just hoping this would really happen within the month. For btc investors, better hold it for good while waiting for the expected potential rise of btc and I think this time, resistance will be weaken and could no longer hamper btc's growth.

[SyrulRamadhan]

yes it is a crucial moment, hopefully no bad news that will make candles will reverse direction down. hopefully there will be good news that can make candles more positive for the upward direction

[labilaab]

Yeah no one knows. The correct decision for now really is HODL. I don’t believe in repeating history theory though coz the btc price depends to us hodlers .Wether how much percentage is holding still or dumping affects the btc price.

[Ka4Rt4]

maybe now the good thing to do is hold bitcoin for now with me knowing about the unstable bitcoin price of the price. but I'm sure bitcoin by the end of the year will again find a high price point.

[pooya87]

the problem with this kind of analysis is that you never know until price breaks either one of these lines. and until it does, you can't tell which way it is going to go.
there is a good chance that we are going to soon see the rise start up again since we have already seen such a huge drop and the current price is showing such a good resistance but there is also a very small chance of another sideways period and possibly a small drop.

[Haxor321]

I don't know if someone has posted this already but I will start this topic to seek opinions from the experts and give ideas to the new traders. Bitcoin's price is ranging at $6800 very tightly since yesterday, the movement of the price keeps narrowing as the day pass by, is it a sign that bitcoin is going to break either its resistance or support?



I got this chart from binance, this was a chart from the last few months of bitcoin, (sorry for analysis of the chart as I was not an expert) this shows a descending triangle which as they say a sign that the price will moon in a few days. (which is I really hope). But there is still a chance that it will fall as we know btc defies the chart annalysis and very volatile, this is not 100% accurate but has a possibility.

If my prediction is right, I think bitcoin's price will moon at the end of the month. and I think it will range up to $12000-15000. So it is better to hold onto your coins and wait for the right moment to sell it.

I think that is true, I'm also still believing and hoping that bitcoin will rising up again but I'm not expecting any higher value from it. For me it is good enough to know that it will going up again and maybe for a long period of time but if it will pushing to it's highest point well it could be much better for us. But for now it is really the best to do is definitely hold so we can gain much more benefit for the upcoming high pump in the near future.

[josephob12]

So, don’t sell now is good choice

[stein888]

Bitcoin break through its resistant already! it is now at the price of 7800-8000 guys! I hope that it will continue pumping! investors are now preparing their money to be joining with the flow!

[eaLiTy]

If my prediction is right, I think bitcoin's price will moon at the end of the month. and I think it will range up to $12000-15000. So it is better to hold onto your coins and wait for the right moment to sell it.

I am impressed by your prediction and analysis, i have seen this thread yesterday but i was thinking the opposite could happen if there is a negative news and i was expecting that, but all of a sudden there is a huge investment in bitcoin and the price started rising all of a sudden and i was wondering what was happening that could trigger this surge, i cannot find anything else other than your analysis. 

[stein888]

If my prediction is right, I think bitcoin's price will moon at the end of the month. and I think it will range up to $12000-15000. So it is better to hold onto your coins and wait for the right moment to sell it.

I am impressed by your prediction and analysis, i have seen this thread yesterday but i was thinking the opposite could happen if there is a negative news and i was expecting that, but all of a sudden there is a huge investment in bitcoin and the price started rising all of a sudden and i was wondering what was happening that could trigger this surge, i cannot find anything else other than your analysis. 

Well, thanks bro, I think it is just a newbie's luck. lol. and I also didn't expect that btc will rise earlier than I expected. this is how volatile bitcoin is, you will never predict it 100% accurate. And I think there are some good news happening right now that helps bitcoin to rise up.

[levvv]

huge breakout or not, it doesn't matter. The fact is, bitcoin price every year has increased after Q1.
I think bitcoin value will increased more than the current price on the market.

[ALI AKBAR]

There are many people who analyze every bit of the year with Bitcoin pricing. However, Bitcoin prices tend to be further influenced by some of the news that followed, If crypto's news is positive. Then everyone will follow the news of its growth. There is no correct prediction in the Analysis of Cryptocurrency Prices Movement. Everything depends on the news.

[signup01]

I don't know if someone has posted this already but I will start this topic to seek opinions from the experts and give ideas to the new traders. Bitcoin's price is ranging at $6800 very tightly since yesterday, the movement of the price keeps narrowing as the day pass by, is it a sign that bitcoin is going to break either its resistance or support?



I got this chart from binance, this was a chart from the last few months of bitcoin, (sorry for analysis of the chart as I was not an expert) this shows a descending triangle which as they say a sign that the price will moon in a few days. (which is I really hope). But there is still a chance that it will fall as we know btc defies the chart annalysis and very volatile, this is not 100% accurate but has a possibility.

If my prediction is right, I think bitcoin's price will moon at the end of the month. and I think it will range up to $12000-15000. So it is better to hold onto your coins and wait for the right moment to sell it.

indeed your analysis is very appropriate we just need to hold our coins until a favorable price to sell our coins patience profit

[BitcoinGuruOne]

We had a bubble, one hell of a bubble. Noone can deny it.
And i see it as a bubble, i look at the btc movement as any other bubble in fintech world thus I think it would be extremely intresting if we saw a breakout of such magnitude as OP thinks. i belive we will have much longer period of price stabilty.

[senne]

huge breakout or not, it doesn't matter. The fact is, bitcoin price every year has increased after Q1.
I think bitcoin value will increased more than the current price on the market.

I think this is one of the suitable explanation to the present scenario. It was highly expected that market will regain its position after Q1 and so are the results. But now Bitcoin has been increasing tremendously which always make us worry that is the next breakout near and the answer is quite simple, Yes. This is the volatile nature of Bitcoin and one should embrace it rather than cursing the technology.

[icecube45]

I agree with you about the bitcoin that will soar, based on the number of bitcoin users recently. We must believe that technology will grow rapidly with effect and concerning bitcoin and we also have to analyze and observe about the development itself.
and I hope as the previous year bitcoin decreased in the middle of the year and soared at the end of the year

[RockHenki]

well, I think that with the development of the market of the current code is gradually restored and the value of bitcoin also is growing, this gives us clearly see this is pedal to the strong increase in bitcoin value for the future , and the current needs of people is very high, bitcoin so bitcoin will thrive and popularity in the near future.

[Morkhart]

Investment companies and owners of large farming mines are optimistic and plan to invest their money in the crypto currency and in its production next year. And in many states, there is an increasing number of discussions about the legalization of digital money and their introduction into the legal framework. And if in 2018 at least in several developed countries bitcoin is recognized, this will further strengthen its course. I believe in the growth bitcoin.

[prehisto]

It seems  that  we had a breakout indeed, we went to touch the 9000$ mark. Although I am still bearish on my view , it was nice to see this rally up.
Lets see what the near future holds. another local ATH would be nice