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Author Topic: Bitcoin is very likely going to break $9000 in the next few days.  (Read 974 times)
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May 24, 2019, 05:21:18 PM
Merited by XinXan (2), Lucius (1), micgoossens (1)
 #1



Here is my reasoning. We are clearly in a tightening pattern with higher lows and lower highs. The last lower high is at $8275 and the 2019 high is at $8366. The monthly resistance is at $8491.

3 Resistances only 200$ a part from each other. If we break the first one, breaking from the pattern, a lot of stop losses for shorts and buys for longs will trigger pushing the price up quickly, we will reach 8366 in minutes, the momentum will be enough to break it and again, stop losses and buy orders will trigger which will, again, push the price even higher reaching 8491 in minutes too, at that point the momentum should be big enough to break it as well and we will face almost no real resistance after that point. This could happen today or in a few days, it's not guaranteed unless we break the first resistance, which might not happen.

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May 24, 2019, 05:25:57 PM
 #2



Here is my reasoning. We are clearly in a tightening pattern with higher lows and lower highs. The last lower high is at $8275 and the 2019 high is at $8366. The monthly resistance is at $8491.

3 Resistances only 200$ a part from each other. If we break the first one, breaking from the pattern, a lot of stop losses for shorts and buys for longs will trigger pushing the price up quickly, we will reach 8366 in minutes, the momentum will be enough to break it and again, stop losses and buy orders will trigger which will, again, push the price even higher reaching 8491 in minutes too, at that point the momentum should be big enough to break it as well and we will face almost no real resistance after that point. This could happen today or in a few days, it's not guaranteed unless we break the first resistance, which might not happen.
Very nice observations, there's positive chances that this movements can happen any time soon, the value of Bitcoin is starting to rise again keeping this momentum can break those resistance that you've mentioned, it's just some good supporters to hold on and believe that it will bring much higher value if we keep on holding and allowed this pumped to continue more higher.

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May 24, 2019, 05:38:47 PM
 #3

Bitcoin is giving signals it's really going to continue pumping. It's moving in a crescent line with small intervals (dumps) that aren't enough to push it down. Looks like investors are really confident on the market at this time and want to take bitcoin up.
9000 dollars now is just a question of time in my opinion. There might be some small dumps meanwhile, but the important is that the trend continues positive like on the last days.
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May 24, 2019, 06:02:59 PM
 #4

We hope $9000 we finally reach for this week or end of this May of month is good to see $9000. So we can move for our next target which is $10,000 . I really think now bitcoin will finally break $9000 and the price of $8000 will not become lower because I think bitcoin now that is strong foundation value for this week. But we need more improvement again and more suprising in the bitcoin.


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May 24, 2019, 08:33:06 PM
 #5

   Do not hope for another highs after 9000$. There will be idiots who will sell their founds to not skip the profit and with that step the price will crush back. So, do not fly high with your hopes guys.

 
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May 24, 2019, 08:36:39 PM
 #6

   Do not hope for another highs after 9000$. There will be idiots who will sell their founds to not skip the profit and with that step the price will crush back. So, do not fly high with your hopes guys.

What's wrong with having high hopes? Of course if you are a smart investor, you will always find ways to at least mitigate the risk, isn't it? The OP is just giving his own opinion and speculation based on TA, so I guess there's nothing wrong with that. Besides, Bitcoin has been in a rally for four months now, so it's about time for everyone to really forget the long bear season we had. Look for positive indications for future price and at the same time, understand how you're going to mitigate if something doesn't goes our way.

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May 24, 2019, 08:37:51 PM
 #7

I'm not sure that in a few days, however, by the end of May, Bitcoin is quite capable of reaching a price of $ 9,000. Today we see that Bitcoin already seems to have crossed the price of $ 8,000 for the third time, and now its price, according to the CoinMarketCap, is $ 8,104. This year Bitcoin is growing moderately, moving away to a shallow correction, and this is a sign that it will continue to grow in price. Therefore, in the near future, it should rise in price to $ 9,000 and, most likely, it will continue to grow.

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May 24, 2019, 08:57:52 PM
Merited by micgoossens (1)
 #8

I'm not sure that in a few days, however, by the end of May, Bitcoin is quite capable of reaching a price of $ 9,000.

The current consolidation is getting very tight. I'd be very surprised if it lasts longer than 3 days from here. Traders will be antsy once we approach the upper bound again. I think this will break upwards by the 27th, and possibly way before then.

After that, I'm not sure if we should be targeting $10K or $13K or $15K......we'll just have to wait and see how momentum looks, then react. No matter what, my bias is still pretty bullish right now and I'm expecting new highs just like the OP.

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May 24, 2019, 09:31:02 PM
 #9

   Do not hope for another highs after 9000$. There will be idiots who will sell their founds to not skip the profit and with that step the price will crush back. So, do not fly high with your hopes guys.


Nothing's wrong with hoping for the best. We're on the $8k period so it isn't impossible for the market to reach that value.
As holders, we should be optimistic and must always look for the capability of Bitcoin rather than being too negative.
As we could see, the market is continuously going upwards.

 
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May 24, 2019, 09:46:42 PM
 #10

It can be achievable in the few coming days... There seems to be some resistance around $8500 but when the price breaks out, 9k will be achievable almost a few hours to days later.
8K on Friday and probably this whole weekend is a good sign of something good coming ahead.

Bollinger bands are also quite Optimistic  Smiley


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May 24, 2019, 09:52:59 PM
 #11

It can be achievable in the few coming days... There seems to be some resistance around $8500 but when the price breaks out, 9k will be achievable almost a few hours to days later.
8K on Friday and probably this whole weekend is a good sign of something good coming ahead.

Bollinger bands are also quite Optimistic  Smiley


it seems like reaching 9k is still very possible in the near future but to exceed 10k is very difficult because the market is still fundamental for a few days later
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May 24, 2019, 09:58:31 PM
 #12

$9000 is such a non level, just like anything else below the $10,000 mark. Hoping for $9000 is hoping for the price to increase just over 10%, which is peanuts and not worth moving for unless you're a trader.

Funny thing is that CNBC has been quite bullish lately and the price hasn't taken a proper dive yet. They're either rightfully bullish or the correction still has to come. I'm on the side of those who are looking for a correction.

Overall, the market looks a bit exhausted, but that may just as easily be a consolidation phase, so we'll see how it goes, but the fact that we haven't had one single correction yet definitely indicates a strong bullish momentum.

 
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May 24, 2019, 10:06:01 PM
 #13

Totally possible, I don't se anything in the path of the 9k, but to reach and sustain the mark of 10k will be a "problem"
If good news continue to coming to BTC, we are good to reach some impressive levels until the end of the year

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May 24, 2019, 11:31:15 PM
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 #14

Then I Will just say..... gentlemen ....and let the ride continue Cheesy

XhomerX10 designed my nice avatar HATs!!!!!  Thanks Bro
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May 24, 2019, 11:52:38 PM
 #15

Everything is possible but with the current price, i think something is pulling it back that it's having a hard time to reach the $8k now unlike before. I think we need more weeks before we can finally see the five-figure price or the $9k-ish this year. Halving in 2020 will be giving us a lot of bonuses if we will wait for that to come but it is too far yet.



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May 25, 2019, 02:11:15 AM
 #16

Everything is possible but with the current price, i think something is pulling it back that it's having a hard time to reach the $8k now unlike before. I think we need more weeks before we can finally see the five-figure price or the $9k-ish this year. Halving in 2020 will be giving us a lot of bonuses if we will wait for that to come but it is too far yet.
Bitcoin is the only potential to achieve 9k USD in short time so I expect anytime it will be possible on this month or next month. I think 2020 is the right year to accepting many countries so 25k USD also possible and we need more investors so current investment is the only Identity of future price.

 
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May 25, 2019, 02:42:52 AM
 #17

Decision time coming for the market, Bitcoin can pop now at any second to $9000 and beyond.

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May 25, 2019, 03:52:23 AM
 #18

a very interesting analysis for sure, and the current momentum in the market has been very bullish making it possible and even easy to have breakouts that big but i think $9k+ is not going to happen that easily. it is true that the rise you described is going to trigger a lot of buy orders and logs but also going above $8500 will trigger a lot of short term sells from day traders cashing their profit out and $9k is another barrier that will act against the rise.

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May 25, 2019, 08:46:55 AM
 #19

I'm not sure that in a few days, however, by the end of May, Bitcoin is quite capable of reaching a price of $ 9,000.

The current consolidation is getting very tight. I'd be very surprised if it lasts longer than 3 days from here. Traders will be antsy once we approach the upper bound again. I think this will break upwards by the 27th, and possibly way before then.

After that, I'm not sure if we should be targeting $10K or $13K or $15K......we'll just have to wait and see how momentum looks, then react. No matter what, my bias is still pretty bullish right now and I'm expecting new highs just like the OP.

Exactly my thoughts. Getting extremely tight, volume is going down and the range is lower than $1000 now which is pretty tight for Bitcoin. The more days go by, the tighter it will be, I personally think it will break before May ends. I also think that if it breaks bearish there is a real possibility of no follow through and bears getting trapped, bulls buying the dip and a small short squeeze perhaps.

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May 25, 2019, 09:50:43 AM
 #20

It is getting some up steam at the moment and can be a point to push on further on today. If it can keep up we will seen the 9k be kissed the upcoming days.
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