Is Bitcoin Preparing for a Huge Breakout?

[stein888]

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.

[Washball]

For now the best advice is to hodl, with these lower prices it's not a good idea to sell. Chart analysis would suggest a huge breakout, but you cannot be too sure about that. As of now, the price can either rise or drop. There's no other reason to assume the price will skyrocket but the chart. Let's hope the price will pass $7200 first, then maybe it could increase to 11K.

[mahibul49]

i saw this news already.i can say just hold ur bitcoin now.and definately btc will break out soon.
i hope at the end of year btc will be at 20k usd plus

[normensky012]

It could be. Who knows? Maybe another good word (I am being sarcastic) from media that keeps our beloved bitcoin down. Or there will be an increase demand. I hate it when bitcoin fly too fast, because it could mean one thing, fall too fast. This nature of volatility makes people avoid bitcoin. That's one problem for a better public acceptance for bitcoin usage as payment or purchases, because of it's extreme volatility caused by, I don't know, creditor of Mt.Gox dumping btc or fake news, or bla bla bla from the FUD community.

[eddyminer]

Looks like theres another reasons to believe that bitcoin will go to the moon.... the US taxes that ends april,15 , Soros and another mega investor entering the crypto game....

[Jating]

I agree that the price is somewhat stuck at around $6800 in the last couple of days and it seems that's its either investors are still waiting before putting their money, or there is a constant bulls vs bears fighting out.

I'm no TA expert but I wouldn't be surprise if there is a huge breakout as we have been in this bearish trend for so long now that its about time to see some semblance of a rally to bring the confidence of investors back to the ecosystem.

So yes, I will continue to hold for now and not do any shit move that will jeopardize my potential profits. Hope that the OP is right about his prediction so that we can finally breathe a sigh of relief.

[darkangel11]

You're not the only one, OP. Here is a similar viewpoint from someone on tradingview, from yesterday: https://uk.tradingview.com/chart/BTCUSD/Fbdto92R-BTC-Daily-A-Closer-Look/

Personally' I don't see us going to 12 or 13k within a month. It's very likely that we'll have a breakout to 7k and if we manage to pass it we'll face 9k which is going to trigger a sale that will get us back to 7k. That's my prediction for another month.
Also, note that there are people who see this as a continuous bearish trend, ignoring the fact that we haven't broken the bottom at 6k and are in fact slowly ascending. They think that we'll break 6k downwards to revisit 5k within the next 2 months and that will be the ultimate bottom.

[daarul50]

There are many people who analyze bitcoin price movements both daily, weekly, and monthly chart. However, the bitcoin price movement tends to be more affected by some of the news that comes next, when the news that appears is positive to crypto then the increase will follow the news and vice versa. There is no accurate prediction in an analysis of the price movement of crypto, all still dependent on the popes and the news.

[Momoamzad]

This is  true that bitcoin is stuck at $6800 in these days. May be it will raise up again or fall down fully. But I don't think sell at poor price is a wise decision but hold it is a good for now. Price movement will go on. But you have to take wise decision as well

[kofibee12]

A triangle formed with a hit at a support level.From all indicators,if you could add Bollinger band to it,it proves the market is oversold and very likely for a breakout back to the price it was prior the beginning of this year. But more confirmation can be obtained if we closely monitor other fundamental news and traders speculations.

[palle11]

There are many people who analyze bitcoin price movements both daily, weekly, and monthly chart. However, the bitcoin price movement tends to be more affected by some of the news that comes next, when the news that appears is positive to crypto then the increase will follow the news and vice versa. There is no accurate prediction in an analysis of the price movement of crypto, all still dependent on the popes and the news.

I also see that is the pattern of bitcoin. I don't believe or look at the chart in trading. The movement is usually pushed by news. Just as you said, when it is good it helps the market go up etc.

[Granxis]

For now the best advice is to hodl, with these lower prices it's not a good idea to sell. Chart analysis would suggest a huge breakout, but you cannot be too sure about that. As of now, the price can either rise or drop. There's no other reason to assume the price will skyrocket but the chart. Let's hope the price will pass $7200 first, then maybe it could increase to 11K.

I also think Bitcoin can go back to $ 10,000, Total Market cap increases. In addition, the increase in the price of Etherum may be reflected in the price of Bitcoin. 5-digit numbers are so crazy.

[oginiimaoyani]

Yes a huge breakout so holding bitcoin now is the best thing to do and probably buy more if you can afford then wait for the moon period to sell.

[kingcryptolendingcoin]

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?

https://preview.ibb.co/msbDcH/Screenshot_20180412_014715.jpg

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.

Bitcoin will begin rally from 50xx area. we have not seen the commercial users activity yet.

[Nadirbil]

Hodl=stability growing of price

[Minus7point5]

It sure seems like it, since March was a very bad month financially.  But who is to say when this breakout will occur?   Of course many people holding bags of coins will say this so people will buy in and the value will go up.
This is nothing new but a would only consider a huge breakout once we are back over $10,000

[kolinko]

It could be. Who knows? Maybe another good word (I am being sarcastic) from media that keeps our beloved bitcoin down. Or there will be an increase demand. I hate it when bitcoin fly too fast, because it could mean one thing, fall too fast. This nature of volatility makes people avoid bitcoin. That's one problem for a better public acceptance for bitcoin usage as payment or purchases, because of it's extreme volatility caused by, I don't know, creditor of Mt.Gox dumping btc or fake news, or bla bla bla from the FUD community.

I believe that the bottom that bitcoin has touched in the past few months at 5k and 6k $ has been the lowest bitcoin and at that level the investor has accepted the huge buy so i think next month the bitcoin will increase strong back. Fud information that caused the market to fall did not work when investors started buying crypto at very low prices.

[TheLivingcrypto]

I think we need a good catalyst to breakout. Although the news has been pretty good lately, hopefully it will reflect the price in the upcoming weeks.

[andreijoaquin]

Every one is free to give conclusions, and there is no right or wrong idea. Bitcoin is unpredictable and we cannot determine what's gonna happen next. But as what investors keeps advising, better hold for now and wait till the pice pump again. Just hope and believe.

[sieemma]

For now the best advice is to hodl, with these lower prices it's not a good idea to sell. Chart analysis would suggest a huge breakout, but you cannot be too sure about that. As of now, the price can either rise or drop. There's no other reason to assume the price will skyrocket but the chart. Let's hope the price will pass $7200 first, then maybe it could increase to 11K.

I also think Bitcoin can go back to $ 10,000, Total Market cap increases. In addition, the increase in the price of Etherum may be reflected in the price of Bitcoin. 5-digit numbers are so crazy.

I agree with you Granxis, Ethereum and bitcoin are the market changers. A rise in one tends to cause a positive move for the other. Seeing ethereum rising today, I was happy because it would be reflected in the price of btc. As a hodler, I am not too much into what brings the price high because I know for sure, the price will increase.
Framing statements of what will make price go high even puts tension on the price of bitcoin. Let's hope for the best.