Will BTC hit $11,500 in June 2019?

[jonaire99]

There might be some price corrections or declines coming this June for bitcoin so it might not be possible to reach that target price. Some declines are steep and one example is the recent flash surge to $9k then followed by a big drop down to its recent price. The investors dumped nearly instantly after it reached the $9k. The bitcoin needs a continuous uptrend with few corrections to reach the $11500 in June.

[dentolas]

retracements are part of any market and are a natural phenomenon, but nevertheless I would guess that it will hit $12000 before the retrace... and then get back to 8000 level for a while, before going upwards again
cheers

[Gaff]

That's a big question until now, and as far as the trending price surges I think we're not too far to reach to that point of price at $11,500. But unfortunately there's some news that has gone so controversial these days, maybe it didn't sound so alarming since people started to gain more confidence on holding their valuable assets. Some fake news circulating and tried to pull down btc's brighter journey, and although it has been stabilized for week I think some group of whales tried to do some unexpected manipulations which tend to surprise everybody at one glance. If you do some reviews on the chart of bitcoin lastly, you'll witness a huge spike towards downfall below $8k which ranged at $7.8k then back again to $8k onwards.

[justspare]

This can happen with almost the same probability. It may rise in price to $ 11,500 next month, or fall again to $ 8,000, or even lower. After a slow growth today, bitcoin fell in price by almost $ 500 compared with yesterday. However, in a few days, he can again rise even higher than yesterday's mark. This is cr ptataal

From my little study of bitcoin for the past 2 months, I think it has become an habit for investors to always sell of temporarily when price surges a little which make the price dump, and then I realize that they buy back which pushes the price further and above, I think this has become a norm now, which means this little retrace will bounce back soon to give further strength for it to push above $9000.

If within the next few days bitcoin can increase above that, then I will be sure that before the end of June, bitcoin value will rise to $11500, but for now, I would not want to predict yet what will happen after bitcoin gets to $11500.

[uneng]

This can happen with almost the same probability. It may rise in price to $ 11,500 next month, or fall again to $ 8,000, or even lower. After a slow growth today, bitcoin fell in price by almost $ 500 compared with yesterday. However, in a few days, he can again rise even higher than yesterday's mark. This is cr ptataal

From my little study of bitcoin for the past 2 months, I think it has become an habit for investors to always sell of temporarily when price surges a little which make the price dump, and then I realize that they buy back which pushes the price further and above, I think this has become a norm now, which means this little retrace will bounce back soon to give further strength for it to push above $9000.

If within the next few days bitcoin can increase above that, then I will be sure that before the end of June, bitcoin value will rise to $11500, but for now, I would not want to predict yet what will happen after bitcoin gets to $11500.

It's true. When btc hit 9000 dollars it suddenly came back to 8300 dollar again. A kind of panic selling happened on that moment because we were reaching a price zone where we haven't been for too long. But we can see bitcoin is strong because after one day it was already rising again.
The market wants to hit 9000 dollars once more, now with less panic and fear. If bitcoin is able to rise 500 dollars on a consistent basis every month it's good enough.

[Whaleagent]

In terms of possibilities, yes, why wouldn't it be possible, will it do it? We don't know, TA doesn't really work that well for longer timeframes in this market, I will say one thing, there is still a lot of bull strength behind bitcoin, enough to push above 9k again in the next few days. The 10k level will definitely prove to be a tough resistance, if we break that, however, it should be quite easy to reach 11.5k

[peter0425]

In terms of possibilities, yes, why wouldn't it be possible, will it do it? We don't know, TA doesn't really work that well for longer timeframes in this market, I will say one thing, there is still a lot of bull strength behind bitcoin, enough to push above 9k again in the next few days. The 10k level will definitely prove to be a tough resistance, if we break that, however, it should be quite easy to reach 11.5k

We are just on another period wherein bulls is just taking a rest. But I agree that there's a lot of strength so when they started to run, the price might reach $11.5 this month alone. Of course there will be periods of resistance, but as we goes along I'm sure it will be broken and the price will go 5 digits again.

[Shinpako09]

Of course it's possible but then no one really knows what were going to happen. All we can do right now is just speculate and hope for a price we are expecting. We should think first on when we're going to break the $10k barrier before we jump into that $11.5k. As of now, the price is holding back and can't show the resistance in $9k. Maybe 1-2week before we can see the $9k resistance.

[freedomgo]

Of course it's possible but then no one really knows what were going to happen. All we can do right now is just speculate and hope for a price we are expecting. We should think first on when we're going to break the $10k barrier before we jump into that $11.5k. As of now, the price is holding back and can't show the resistance in $9k. Maybe 1-2week before we can see the $9k resistance.

What really makes this market better now is we are getting a stable price after every correction, then price will pump again.
By looking at the price trends, we can analyze that what we are holding now is already a great improvement, that's 100% more, compared to the cheapest price of bitcoin this year, and crypto market are doing better this year, so I think people are really investing, and the bear have diminish for the bulls to be given the opportunity to run in the market again.

[exstasie]

Looking at the daily chart, I'm noticing some similarities to the late April period, right before we broke above $6,000. Momentum indicators have recharged so there's lots of room to keep running. We may be "slow mooning", slowly grinding upwards until the next period of FOMO gets triggered.

One possible path to $11,500:

[Cherylstar86]

In terms of possibilities, yes, why wouldn't it be possible, will it do it? We don't know, TA doesn't really work that well for longer timeframes in this market, I will say one thing, there is still a lot of bull strength behind bitcoin, enough to push above 9k again in the next few days. The 10k level will definitely prove to be a tough resistance, if we break that, however, it should be quite easy to reach 11.5k

We are just on another period wherein bulls is just taking a rest. But I agree that there's a lot of strength so when they started to run, the price might reach $11.5 this month alone. Of course there will be periods of resistance, but as we goes along I'm sure it will be broken and the price will go 5 digits again.

  The current value of bitcoin is heading up positively with people around who are optimistic of its bountiful outcome. Consequently, the market has carrying high volatilization that affect its value, still I am determine that bitcoin's value will continue to arouse accumulately profitable, by looking the current phase that shown gradual progression.

[thefaucetrunner]

reaching $11,000 are very difficult for bitcoin, since we wre in June right now, i think there will not significant up and down rise until the end of 2019. i hope the price are more stable to what we have in 2018, i cant see the fall of bitcoin price down no more, because my target are to return all of my lost from the last year in the beginning of 2020. lets hope current market situation will support all of crypto community and attract more investors in cryptocurrency

[LUCKMCFLY]

I think that if it can reach $ 11.5k, the bitcoin chart is showing clear signs that the market does not want nor do I think there can be any strong correction, in fact, the most probable thing is that a possible bullish rally may arise, because the volume of the purchases have been very high. Now we have an environment of lateralization, which turns out to be very beneficial, because when obtaining liquidity means that we can be waiting for a possible rally, or if the bears enter, they will not have enough strength to lower it thanks to the small liquidity zone.

[Whaleagent]

Looking at the daily chart, I'm noticing some similarities to the late April period, right before we broke above $6,000. Momentum indicators have recharged so there's lots of room to keep running. We may be "slow mooning", slowly grinding upwards until the next period of FOMO gets triggered.

One possible path to $11,500:

Next resistance seems to be at around 9500$, it's the fib retracement from the ATH. Although I'm not sure how big of a resistance this will be since a lot of people do not use those, for me personally, the next big resistance I believe is at 10k and we will probably hit it in the next few weeks followed by a pullback and some correction on the weekly chart. I don't think it will happen now because we still have a lot of strength and the RSI has cooled off a little bit.

[exstasie]

Next resistance seems to be at around 9500$, it's the fib retracement from the ATH. Although I'm not sure how big of a resistance this will be since a lot of people do not use those, for me personally, the next big resistance I believe is at 10k and we will probably hit it in the next few weeks followed by a pullback and some correction on the weekly chart.

One of the reasons I modeled this price action after the $6K area is that I think $6K and $10K represent similar S/R and psychological resistance. Everyone expected resistance at $6K, so we saw 3 mini selloffs from sellers in the $5,000s who were obviously anticipating an imminent crash. But then we blew right through $6,000 and never looked back.

So I think we might see another similar dump attempt off the $9,000s but then blow right through $10K.

[Whaleagent]

Next resistance seems to be at around 9500$, it's the fib retracement from the ATH. Although I'm not sure how big of a resistance this will be since a lot of people do not use those, for me personally, the next big resistance I believe is at 10k and we will probably hit it in the next few weeks followed by a pullback and some correction on the weekly chart.

One of the reasons I modeled this price action after the $6K area is that I think $6K and $10K represent similar S/R and psychological resistance. Everyone expected resistance at $6K, so we saw 3 mini selloffs from sellers in the $5,000s who were obviously anticipating an imminent crash. But then we blew right through $6,000 and never looked back.

So I think we might see another similar dump attempt off the $9,000s but then blow right through $10K.

It is similar but also different, the area at 6k that you are mentioning was far more extended. Trading sideways for a month almost. The area we are currently in has only been trading sideways for a few days and it followed a strong uptrend. These are key differences and to me they show a far stronger bitcoin now than at 6k.

[abstractednerve]

I don't think Bitcoin hit 11K USD too early! BTC price is becoming stable at 8K USD nowadays! It can go to 10K USD from June to July! Though i have seen many articles and analysis about 11500 USD in June, but I want to stay at the ground. We need a strong and stable BTC price, not a bubble again!

[exstasie]

One of the reasons I modeled this price action after the $6K area is that I think $6K and $10K represent similar S/R and psychological resistance. Everyone expected resistance at $6K, so we saw 3 mini selloffs from sellers in the $5,000s who were obviously anticipating an imminent crash. But then we blew right through $6,000 and never looked back.

So I think we might see another similar dump attempt off the $9,000s but then blow right through $10K.

It is similar but also different, the area at 6k that you are mentioning was far more extended. Trading sideways for a month almost. The area we are currently in has only been trading sideways for a few days and it followed a strong uptrend. These are key differences and to me they show a far stronger bitcoin now than at 6k.

We've been trading in the $8,000s for ~ 3 weeks now believe it or not. This area has definitely proven more volatile than the $5,000-$6,000 area (which is very normal the higher we go into a parabolic rise) but in terms of momentum and structure it's very similar, hence the similarity in Chande momentum seen above.

Anyway, I live by the mantra "history rhymes but never repeats" so I don't expect things to play out exactly the same. My point is more that the market is still retaining bullish structure and momentum just like it was in the $5,000s. This is a good sign. Until the daily chart shows signs of weakness, I have a bullish bias.

[Whaleagent]

One of the reasons I modeled this price action after the $6K area is that I think $6K and $10K represent similar S/R and psychological resistance. Everyone expected resistance at $6K, so we saw 3 mini selloffs from sellers in the $5,000s who were obviously anticipating an imminent crash. But then we blew right through $6,000 and never looked back.

So I think we might see another similar dump attempt off the $9,000s but then blow right through $10K.

It is similar but also different, the area at 6k that you are mentioning was far more extended. Trading sideways for a month almost. The area we are currently in has only been trading sideways for a few days and it followed a strong uptrend. These are key differences and to me they show a far stronger bitcoin now than at 6k.

We've been trading in the $8,000s for ~ 3 weeks now believe it or not. This area has definitely proven more volatile than the $5,000-$6,000 area (which is very normal the higher we go into a parabolic rise) but in terms of momentum and structure it's very similar, hence the similarity in Chande momentum seen above.

Anyway, I live by the mantra "history rhymes but never repeats" so I don't expect things to play out exactly the same. My point is more that the market is still retaining bullish structure and momentum just like it was in the $5,000s. This is a good sign. Until the daily chart shows signs of weakness, I have a bullish bias.

We had an equilibrium pattern that broke bullish and saw continuation over the following days, that shows strength, volatility is meaningless, again, the area we are now shows a lot mor strength than the one at 6k, all technical indicators say so, weekly uptrend, daily uptrend, monthly uptrend forming.

[raven7886]

June is right now so it means there is a chance we should see 11.5k this month. Now one month is a short period of time for going up but at the same time for such a small increase its a lot of time as well. We have seen bitcoin moving from 4k to 6-7 thousand dollars in a month so from almost 9 thousand to 11.5k is nothing that special anymore to us. The question remains to be will bitcoin go up or go down in that case. If bitcoin goes down this month than we are not going to see any big numbers but if bitcoin goes up then 11.5k is not that remarkable at all, it is quite close and we will be there soon without that much trouble. So what do you think? Will it go up or will it go down this month?