Bitcoin Weekly Update: Bulls Last Stand

[zeze18]

This is end of the year, many people switch their bitcoin asset into currency and start again in January 2020. No more speculations, just wait until next year and start again with MACD indicator to know where market will goes. I can't replace open order because half fund already stuck, so I'll wait until below $8k to start again.

The price seems to be rising right now after the correction but i'm sure this just a bull trap from the whales and make people buying again then the price will crash lower and the whales are buying more.

[1714296957]

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[1714296957]

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[Vertex_ICO]

Bitcoin has seen a slow bleed since the massive pump driven by news out of China. $8,300 is the top of the daily mid range and looks to be Bitcoin's last bullish support level after losing the former range high and the 50 day moving average. Full article here:

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-11-17-2019

Thanks for this! Super interesting article - still, it does look like we'll be entering a bull run in the near future.

[Cherylstar86]

This is end of the year, many people switch their bitcoin asset into currency and start again in January 2020. No more speculations, just wait until next year and start again with MACD indicator to know where market will goes. I can't replace open order because half fund already stuck, so I'll wait until below $8k to start again.

The price seems to be rising right now after the correction but i'm sure this just a bull trap from the whales and make people buying again then the price will crash lower and the whales are buying more.

I don't think its a trap mate as we all know bitcoin is so volatile and we can't even predict its value. Well, we have our own thoughts but as I observed as the bitcoin's price go down it's a good chance by those crypto enthusiasts to buy and for sure it will pump on the up coming days.

[Taskford]

This is end of the year, many people switch their bitcoin asset into currency and start again in January 2020. No more speculations, just wait until next year and start again with MACD indicator to know where market will goes. I can't replace open order because half fund already stuck, so I'll wait until below $8k to start again.

The price seems to be rising right now after the correction but i'm sure this just a bull trap from the whales and make people buying again then the price will crash lower and the whales are buying more.

I don't think its a trap mate as we all know bitcoin is so volatile and we can't even predict its value. Well, we have our own thoughts but as I observed as the bitcoin's price go down it's a good chance by those crypto enthusiasts to buy and for sure it will pump on the up coming days.

We can only tell if it is a trap if we can see a fast price changes in quick instant but as of now the price of the bitcoins is pretty much stable so I include maybe we are in safety zone right now but I will try to look for more cheaper price since I am still waiting for good opportunity to buy cheap, but I'm not expecting any good pumps right now since it's so early for experiencing it since the halving will happen on next year.

[ashmodeus]

and now , we waiting for next bull , since china create a negative news after a positive news, somehow i just think we've been played by stupid rumor right that.
but , we cant do anything , i guess how strong they controlled crypto market after all.

[NathanJB]

and now , we waiting for next bull , since china create a negative news after a positive news, somehow i just think we've been played by stupid rumor right that.
but , we cant do anything , i guess how strong they controlled crypto market after all.

It looks like we are all being fooled by certain powerful institutions here. Rumors and statements seem to play a very big influence in the prices of the cryptocurrencies. They can pump any time just because some kind of positive statement is released and then they can also dump anytime simply because a fake news is released. Why are we reacting to all these as if they are the ones who own the market?

[Sadlife]

Bitcoin have a huge comeback it did manage to bounce back to $7200 its former support. Now we've just have to wait and see if bitcoin can sustain this support line or will it fail again but we might also see a possible dump , honestly i wanna see once more of the 2017 price pump but this year it is most likely not to happened.

[Kemarit]

Bitcoin have a huge comeback it did manage to bounce back to $7200 its former support. Now we've just have to wait and see if bitcoin can sustain this support line or will it fail again but we might also see a possible dump , honestly i wanna see once more of the 2017 price pump but this year it is most likely not to happened.

Right, the good thing is that the support at $7k looks strong at this point. But we would love to see it getting around $7500 and then see how it goes. However, as we are nearing the end of the month, I don't see it happening though. December could be very different as we are just less than five months to the block halvening. A good 5 digit will be great to see before the end of the year. But if it doesn't then we can't really do everything about it unless there's some kind of positive news that will turn the market around next month.

[jostorres]

Bitcoin has seen a slow bleed since the massive pump driven by news out of China. $8,300 is the top of the daily mid range and looks to be Bitcoin's last bullish support level after losing the former range high and the 50 day moving average. Full article here:

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-11-17-2019

Well like they say, Bitcoin is unpredictable. Have you checked the price of Bitcoin today? You can't compare that what we had in the last two days or last week. The price of Bitcoin was already down to $6,500 before coming back up to $7000 and today it has reached $7,500. I was already seeing some people predicting that the price will fall back to $4000 but that never happened.

Nobody can ever predict what will be the future of Bitcoin, it's always something else at the end. This is one of the reasons I always hold strong when I invest for the long term, because I know that people will always make the wrong prediction and say things that will never happen.

[ashmodeus]

and now , we waiting for next bull , since china create a negative news after a positive news, somehow i just think we've been played by stupid rumor right that.
but , we cant do anything , i guess how strong they controlled crypto market after all.

It looks like we are all being fooled by certain powerful institutions here. Rumors and statements seem to play a very big influence in the prices of the cryptocurrencies. They can pump any time just because some kind of positive statement is released and then they can also dump anytime simply because a fake news is released. Why are we reacting to all these as if they are the ones who own the market?

well , the parable is like this , we have the market,they also have the market , the problem is they have more shares on market , so that mean whatever they do , it make impact for us , both negative and positive .
i dunno when this will over.

[Kemarit]

Resistance: $7,600-7,800 should be a major obstacle now

Yeah we did see the price hits $7800 but the OP is correct in calling that this is a big psychological barrier because it was not sustainable as the price goes down to $7300 again.

Well like they say, Bitcoin is unpredictable. Have you checked the price of Bitcoin today? You can't compare that what we had in the last two days or last week. The price of Bitcoin was already down to $6,500 before coming back up to $7000 and today it has reached $7,500. I was already seeing some people predicting that the price will fall back to $4000 but that never happened.

Nobody can ever predict what will be the future of Bitcoin, it's always something else at the end. This is one of the reasons I always hold strong when I invest for the long term, because I know that people will always make the wrong prediction and say things that will never happen.

And that's what makes this market very attracted to most, specially those whales because they can play us and make us fool thinking that the price will go on this direction, but then again, those manipulators works this magic to pull the price again. And I agree that long term holder at this point is a bullet proof strategy, no stress on your end, you just have to wait till the market goes into another bull run next year, specially after the block halving.

[cryptoadvocate]

Latest update can be seen here: https://www.cryptoadvocate.net/post/bitcoin-weekly-update-12-01-2019