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Author Topic: BTC at its previous resistant. What will happen ?  (Read 140 times)
Kevin77
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May 09, 2018, 07:05:23 PM
 #21

This is a silly question..

I don't think it was just a silly question. I just wanted to know your idea and opinion. Because weekly chart is not a shorter time frame ( of course it is not a strong higher time frame too) and if you take a closer look at it you will see some sort of resistant is creating at that level ( where there is a previous resistant level ). So I just wanted to know your idea as most of you here are senior than me  Smiley
The problem you are not seeing here is that you are asking something no one can know. However, the major resistance was towards $10k which we could not even smash through and we ended up having a reversal from there as well as a bearish divergence on the shorter time frame. Usually this type of movement is considered as 'gaining power phase' to break the big resistance levels.

I wonder if you missed that because as at the time which you dropped this post, we were way past that resistance already and trying to find a support, so the question you are asking is not sounding relevant in a way.


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May 10, 2018, 07:15:19 PM
 #22

Well, it is good question. The thing is BTC has fallen for last few months which was very shocking for us. But if the price can fall down the price can also rise up. No need to do worries for the resistant level because the price is rising but in a slow motion and it will not go down.

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May 10, 2018, 07:43:06 PM
 #23

This is a silly question, BTC at its previous resistant than if you really learn how to trade using technical analysis than you would sell your bitcoin when there is a breakout to the downside. Unless you're holding and looking at higher timeframe than weekly chart, then you should still holding as there are no sign of monthly downside overturn.
A really silly question. Firstly, no one can even know how the movement of bitcoin would be like, but as it is, bitcoin is still trading outside the downtrend and that is what should be important for a long term holder. Anyone who is really ready to trade should not even be asking questions such as this, otherwise, I wonder why they should be trying to in the first place. The problem is some people are trying to take advantage of the market, but the truth is they really do not have a single clue of what they want to do.

No need to do worries for the resistant level because the price is rising but in a slow motion and it will not go down.
Unfortunately most traders do get worried at most of resistance levels due to some sudden pull back of market movements. Even they are well aware of how resistance levels are working, they start worrying about reversal of trends. But at this point, we can be sure about bulls to come into action again as market still remains strong with respect to volume and by most indicators.


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May 10, 2018, 08:00:02 PM
 #24

I have heard that the Reserve Bank of India intend to ban the crypto currencies next month. Probably, this negative news impact on the price of Bitcoin and other crypto currencies now. BTC (-3%) is shown as a quite resistant in comparing to altcoins (-11%). It isn't going down lower than $9000 yet, and this is its current resistance level.
They are going back and forth with this banning. There used to be such rumors back in the day.
To give you a short reminder:
In a Blow to Bitcoin, India Bans Banks from Dealing in Cryptocurrencies
https://bitcoinmagazine.com/articles/blow-bitcoin-india-bans-banks-dealing-cryptocurrencies/

Followed by:
No, India Has Not Banned Bitcoin Trading, Government Confirms
https://www.newsbtc.com/2018/04/07/no-india-not-banned-bitcoin-trading-government-confirms/

So now we are going to go through this FUD again? Give me a break.

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May 10, 2018, 08:35:22 PM
 #25

Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
Some of the big wales entered crypto and invested in bitcoin and pumped its price very high (19K) at the end of 2017 (nov-dec). But gradually the price decreased and people thought that it was a drop in price and bitcoin is losing its value but it was a totally different issue it was just a temporary pump and bitcoin as recovered to its original price. I think it's not a drop in Bitcoin value but still it the best time to invest in it as until the end of 2018 it will surely boom to an all-time high price.

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May 10, 2018, 08:55:06 PM
 #26

Up and down of the prices is the natural rule of a market. Btc has the same too. I definetly not think that btc at its previous resistant and somehow in the future if it is so then it will surely overcome it.
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May 10, 2018, 09:00:40 PM
 #27

Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.

If anyone knows the answer to question such as this, then such individual just need one opportunity to be rich, then exit the market afterwards as that is the key to every problem facing crypto trading but unfortunately, anybody who offer some answers is only guessing then hoping that he is either wrong or right. The fact is that the point at which price is currently is not enough to maintain huge resistance of not going lower with innate opportunity to rise as well.
This is definitely true which this kind of question cant really be answered by anyone since nothing on this world could able to predict on what would happen next. Rejecting 3 times on resistance level wont always having the precise possible movement would be downward just like on what we saw on traditional trading forex and stocks. When it comes to crypto we do know price might breakout or would dip anytime on least expected.The thing here is that we should be keen or wise on when to enter and when to exit as long we are on profits.

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May 10, 2018, 09:01:32 PM
 #28

Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
This is a question that seriously can't be answered, because no body can predict the future, i know it has been said a million times, but this is cryptocurrency market here it is unpredictable and could change at any moment, right the price has been fairly stable, so the best thing to do right now is just hold and see what will happen, and just act depending on the situation.


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May 10, 2018, 09:08:13 PM
 #29

The resistance had lasted 2 weeks or more and not improving. more had resulted into it, I believe some people are still acquiring more coin in a very tough market or troubled. Exploiting the low market price

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May 10, 2018, 09:10:49 PM
 #30

I agree that the price of btc is falling nowasays. But I believe in Btc. They are working on it and soon they are going to rise with bigger successSmiley Smiley
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May 10, 2018, 09:56:14 PM
 #31

Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
You can see that the price of bitcoin in the past few days is fluctuating and continuous adjustment at low amplitude. The $ 8,800 bitcoin hit the $ 9300 level and is now showing signs of sideways. According to my analysis, bitcoin prices are showing signs of convergence and there will be big fluctuations, so you should sell bitcoin at this point to be able to profit and preserve capital.
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May 10, 2018, 09:59:13 PM
 #32

I agree that the price of btc is falling nowasays. But I believe in Btc. They are working on it and soon they are going to rise with bigger successSmiley Smiley

Hopefully it will like what happened in the past years,but we also need to stop treating bitcoin only as the trading material which stops bitcoin from reaching its potential value.The people who want the bitcoin to recover from it fall the start to hold your coin.

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May 10, 2018, 10:52:22 PM
 #33

According to technical analysis, if the BTC below 8k7 $, the strong bearish trend will continue and that is a very bad signal of the market at this time. Keep track of the value of bitcoin to make timely and effective investment.

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May 10, 2018, 11:53:55 PM
 #34

If the price resistance is damn too high it is an indicator that Bitcoin will go down again, most probably it will land on 3K one of these weeks. Compare the price of BTC now to the chart of Bitcoin bubble in 2014 you will know what I mean.


Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.


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May 10, 2018, 11:57:30 PM
 #35

Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
You can see that in today's bitcoin price is not very variable but in the last few minutes bitcoin price has decreased slightly decreased $ 300 and has caused the market to simultaneously discount. According to my technical analysis, the current $ 9000 level is very strong and the bitcoin price after the break will be able to bounce up to $ 9800. But if the breakout is broken, the bitcoin price could fall to $ 8800 or $ 8600 in the worst case scenario.
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May 11, 2018, 04:02:29 AM
 #36

Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
Welcome to the complexity of the market as we have seen so many times that bitcoin never responded to any technical analysis of some sort, so the best chance you can ever have is to just move with the flow and nothing else and as long as you can do that, you will always get to see what happens eventually. If BTC will go down again, we will see in the next few hours or days.

I am expecting to break $10k levels within this week as per my technical analysis. But I need a real life support from government or from an institution to back my prediction because without new money flow we cannot expect prices to go beyond some strong physiological resistance levels.

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May 11, 2018, 05:53:37 AM
 #37

Currently if you take a look at the BTC weekly chart you will see that the price of BTC is at its one of previous resistant level. And we have 3 price rejection signs too. What will hapen next ?. Will BTC go down again ?.
As you rightly predicted the price of BTC rejected at the weekly resistance has turn out absolutely the resistance at $10K is strong  based on technical analysis presently the price has temporarily pullback hopefully might be rejected again at $8500 support before rallying up again.



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May 11, 2018, 06:44:03 AM
 #38

Quite possible. Bitcoin still remains a very volatile crypto currency. So do not be surprised at this price

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May 11, 2018, 08:50:54 AM
 #39

Quite possible. Bitcoin still remains a very volatile crypto currency. So do not be surprised at this price
Bitcoin is struggling as always we cannot stop it's volatility from the beginning. And so likely btc can be down again as we check the market price cannot sustain to go higher these past weeks. Expect that we will seeing again into down price.


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May 11, 2018, 09:38:34 AM
 #40

Tough question for answer but its true in recent times bitcoin face some problem because some countries are banned bitcoin but still now many people’s are also interested to invest on bitcoin because they knows bitcoin have a great future nearby.
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