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Author Topic: Bitcoin’s Price May Be Building for a Move Back Above $11K  (Read 280 times)
everlyn
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August 04, 2019, 08:01:04 PM
 #1

Bitcoin has jumped to $10,500 as expected and looks set to test key resistance at $11,120 over the weekend with the daily chart indicators beginning to align in favor of the bulls.
The outlook as per the daily chart would turn bullish if BTC prints a UTC close above $11,120 on the back of high volumes.
Prices may pullback to key supports at $10,318 and $10,172 first, as the hourly chart is reporting bearish divergence of key indicators.
https://www.coindesk.com/bitcoin-may-be-building-for-a-price-move-to-11k
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August 04, 2019, 08:58:02 PM
 #2

Bitcoin has jumped to $10,500 as expected and looks set to test key resistance at $11,120 over the weekend with the daily chart indicators beginning to align in favor of the bulls.
The outlook as per the daily chart would turn bullish if BTC prints a UTC close above $11,120 on the back of high volumes.
Prices may pullback to key supports at $10,318 and $10,172 first, as the hourly chart is reporting bearish divergence of key indicators.
https://www.coindesk.com/bitcoin-may-be-building-for-a-price-move-to-11k



Well pretty great analysis mate, I'm not contradict but we know bitcoin is volatile harder to predict, hoping bitcoin start to go into bullish and hit 15,000$ before end of this month of august and the price rising upto hit the last all time high.

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August 04, 2019, 09:10:35 PM
 #3

Nice analysis mate, and looks assertive because i just take a look to the price and it's $70 away from $11k, so, we can say it was a good weekend for bitcoin. Let's hope to see now a great week for it and hope to see it going up to $15k. That would be awesome.

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August 04, 2019, 10:27:31 PM
 #4

I think bitcoin would get to 15k before this month draws it's curtain, this weekend was indeed a good one for the bitcoin, it kept increasing steadily and now we'll have to wait and see if it crosses 11k, I think if it does, we're going to see bitcoin rally to the 15k mark. This is a good sign that the market would be bearish come the last quarter of this year, let's hope it does.



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August 04, 2019, 10:38:11 PM
 #5

It's obvious to be going there.

The price is $10,940 and that's few more dollars away though like the other times. It seems to be stopping there but at least we have a high support for now.

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August 05, 2019, 06:01:29 AM
 #6

Certainly looks like it, doesn't it? And with the weekend bulls seemingly back, it's all up to Japan and China now to build up the momentum before Europe takes over.

If US then doesn't fall prey to profit taking, 11k and beyond are on the cards. Long way to go though, volumes still thin so shaky.

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August 05, 2019, 06:40:56 AM
 #7

to test key resistance at $11,120 over the

there is nothing "key" about $11,120 price. and as you can see today that price was broken in a very slow manner while price reached $11,670 and nothing change in the trend or the speed which indicates nobody cared about it and it was indeed "not key".
$11000 itself was somewhat of a "key" price where the speed up started and the real resistance which everyone is looking at is above $12k and mainly at the previous resistance meaning the $13k level.
anything else is just the mid term noise.

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August 05, 2019, 11:39:51 AM
Merited by Herbert2020 (1)
 #8

there is nothing "key" about $11,120 price. and as you can see today that price was broken in a very slow manner while price reached $11,670 and nothing change in the trend or the speed which indicates nobody cared about it and it was indeed "not key".
$11000 itself was somewhat of a "key" price where the speed up started and the real resistance which everyone is looking at is above $12k and mainly at the previous resistance meaning the $13k level.
anything else is just the mid term noise.
Trading is very subjective, so whatever might be a key support or resistance level to some people, might be just a fart from your point of view. That's the beauty of trading, we can put our money where our mouth is.

At the end of the day, actual key resistance zones (take for example $6000-$6500) can just as easily be turned into a fart as long as the demand is strong enough, which is exactly what we have seen happen this year.

People expected that $6000-$6500 would form a massive burden to the price because of how it offered a lot of support last year, but the price didn't even flinch and took that resistance out as if it wasn't ever anything of importance.

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August 05, 2019, 12:26:12 PM
 #9

We've more than that by now and even keeps on moving.
Has it shows that Bitcoin couldn't be lying at low forever but it took sometimes to soar high. The market is really promising and it for sure that it will stand for it until the last minute of its existence. People have hopes and so we believe that we can see another great days happen in crypto.




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August 05, 2019, 01:03:35 PM
 #10

We've more than that by now and even keeps on moving...

$11770 Right now, we can say it's close to $12 but we are not sure about how much will be the top. Would be great to see $20k in the next days, but as i said before, i don't think it will go over $15k. Even that goal seems complex nowadays.

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August 06, 2019, 02:37:36 AM
 #11

We've more than that by now and even keeps on moving...

$11770 Right now, we can say it's close to $12 but we are not sure about how much will be the top. Would be great to see $20k in the next days, but as i said before, i don't think it will go over $15k. Even that goal seems complex nowadays.

I agree totally, I think BTC will head to around 15k shortly. My prediction is for it to touch 35k this year. 

However BTC has shown time and again that it doesn't follow usual charting patterns, and leaves most TA experts underwater (cue: Tone Vays).

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August 06, 2019, 12:11:48 PM
 #12

We've more than that by now and even keeps on moving...

$11770 Right now, we can say it's close to $12 but we are not sure about how much will be the top. Would be great to see $20k in the next days, but as i said before, i don't think it will go over $15k. Even that goal seems complex nowadays.
All we have to just keep in mind is that Bitcoin will at one point again have another new All-time high, that is for sure and there is nothing that is going to stop that, but right now, we just have to keep it that bitcoin has tried for the year and even if we keep seeing several corrections, we should not let it discourage.

As much as I am seriously hoping that new trend will continue, but we must still be faced with lots of corrections and at this point, I think it is better we just take our mind off the price now because this is what usually get people discouraged when their expectation is not met. As for me, I have invested whatever that I am capable of investing and hoping for the future to bring it to a very high value where I can have same story with those that invested at the early stage of bitcoin.

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August 06, 2019, 01:31:52 PM
 #13

Bitcoin was able to get into $12k level and made it to $12,200. This starts to give me a chill and it's a normal sequence after pumping that much, there will be a pull back and it did back to $11,600 - $11,700.

Would be great to see $20k in the next days, but as i said before, i don't think it will go over $15k. Even that goal seems complex nowadays.
It would be a surprise if it will reach $20,000 even before the end of the year.

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August 06, 2019, 01:50:15 PM
 #14

Bitcoin was able to get into $12k level and made it to $12,200. This starts to give me a chill and it's a normal sequence after pumping that much, there will be a pull back and it did back to $11,600 - $11,700.

Would be great to see $20k in the next days, but as i said before, i don't think it will go over $15k. Even that goal seems complex nowadays.
It would be a surprise if it will reach $20,000 even before the end of the year.
This is not a surprise to me anymore, i expected this pump and even if there’s a pullback, i know bitcoin can still go up and make new ATH this year. I’m still bullish with bitcoin just like many hodlers, the price moves faster than any coins. Bitcoin makes a strong support, no turning back for a lower price.

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August 06, 2019, 01:54:02 PM
 #15

Bitcoin has jumped to $10,500 as expected and looks set to test key resistance at $11,120 over the weekend with the daily chart indicators beginning to align in favor of the bulls.
The outlook as per the daily chart would turn bullish if BTC prints a UTC close above $11,120 on the back of high volumes.
Prices may pullback to key supports at $10,318 and $10,172 first, as the hourly chart is reporting bearish divergence of key indicators.
https://www.coindesk.com/bitcoin-may-be-building-for-a-price-move-to-11k

Things are now moving fast than we think and bitcoin has just test $12,300 at bitstamp! It is moving fast that when you refresh coinmarketcap you see different upward price. Bitcoin is now on its way towards $13,000 and above $13,880 the high of this year. Most of the technical indicators are showing bull run and some experts are now saying that it might hit $15,000 before the end of this week which is just a little above $3000 gain from now.

Haven't seen the price hitting $12,300 though. But it's interesting to see the price just hovering @$11700 which mean that the price is tanking and it could be the start of another downfall. So let's see, last week was a good week for every one, but we all know that the price is very unpredictable so it could go to $15k or pull to $10k for all we know.

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August 06, 2019, 03:29:12 PM
 #16

the $12300 that was hit today was only a small sign of the FOMO that is building up in the market again. i said this before many times that whenever we have a case like this days where price is going sideways, it builds a lot of FOMO potential in the market which would break out as soon as that sideways action ends.
obviously some will FOMO sooner which is why we see spikes such as this $12300 case. but it will be small since it is only a small percentage of traders who FOMO sooner.

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August 06, 2019, 03:39:11 PM
 #17

This is not a surprise to me anymore, i expected this pump and even if there’s a pullback, i know bitcoin can still go up and make new ATH this year. I’m still bullish with bitcoin just like many hodlers, the price moves faster than any coins. Bitcoin makes a strong support, no turning back for a lower price.
For $20k, it's going to be a huge surprise for me because I'm expecting it to come by next year or so. I'm also optimistic that bitcoin will find it easy to reach a new all time high but I think it's still early to assume that we'll be there for this year.

We all hope that it would be the last time that we're going to see $9k and other lower price. I'm already good with what we see in the market but there's the excitement always getting me that bitcoin still has the best out of it.

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August 06, 2019, 07:42:48 PM
 #18

Bitcoin has jumped to $10,500 as expected and looks set to test key resistance at $11,120 over the weekend with the daily chart indicators beginning to align in favor of the bulls.

Today the price reached $12200 and then dropped to $ 11600.



 I thought for a moment that I would see the price exceed $13000 and stay above $ 13000, but unfortunately the price then drops to $11600. It seems to me that it is being very difficult for the price to stay long in this $12000 zone

i know bitcoin can still go up and make new ATH this year.

honestly I think it's impossible to see more than $ 20,000 this year

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August 06, 2019, 08:25:36 PM
 #19

honestly I think it's impossible to see more than $ 20,000 this year
We are now at Q3 and it seems the price is not yet ready to move to $20,000 this time.
It even struggles to break the $14,000 and everyone was expecting to jump to $15,000.
And now, i am in doubt if Bitcoin would ever reach or even surpass the last ATH next year after the halving.



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August 06, 2019, 10:06:00 PM
 #20

Likewise, it has to believe that bitcoin demand will be high in the 4th quarter just like it happen in previous years. Yes, we might see that it has a very slow market recovery and could be still in price struggles but then, Bitcoin has tried to face it and the community never give up of their support. It is a big help for Bitcoin to recover and seeing its price moving high.

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[/table
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