Will Bitcoin Get into the $8600 Zone?

[CryptoBry]

People in the world of cryptocurrency especially those interested with Bitcoin are happy and ecstatic to realize that their favorite coin made a good pump and is now hovering at around $8,500 which I did not see coming because I assumed that it will be moving sideways in the vicinity of $8,100-$8,200. Those who bought their Bitcoin when it dipped to $7,700+ are now thinking if it is more advantageous to convert them to USDT take some profits and wait some more time for another dip.

I am taking a good quote here from an analysis: "On October 7, the Bitcoin price made a rapid upward move from $7700 to $8300. On October 9, cryptocurrency analyst @D4rkEnergYYY identified a bull flag in the BTC price, which is a bullish pattern. Furthermore, since this pattern allowed the upward move from October 7, it is very likely to act as a continuation pattern. The potential target following a breakout from this move is found at $8600."

Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

[Oasisman]

People in the world of cryptocurrency especially those interested with Bitcoin are happy and ecstatic to realize that their favorite coin made a good pump and is now hovering at around $8,500 which I did not see coming because I assumed that it will be moving sideways in the vicinity of $8,100-$8,200. Those who bought their Bitcoin when it dipped to $7,700+ are now thinking if it is more advantageous to convert them to USDT take some profits and wait some more time for another dip.

I am taking a good quote here from an analysis: "On October 7, the Bitcoin price made a rapid upward move from $7700 to $8300. On October 9, cryptocurrency analyst @D4rkEnergYYY identified a bull flag in the BTC price, which is a bullish pattern. Furthermore, since this pattern allowed the upward move from October 7, it is very likely to act as a continuation pattern. The potential target following a breakout from this move is found at $8600."

Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

I have doubt Bitcoin will have a hard time breaking to $8,600. There was an speculation about the Bitwise ETF might get approved by the SEC. Thus, investors are allocating and accumulating additional Bitcoin as it will be expected to rise if the Bitwise ETF is approved.

But, it turns out that the SEC rejects the Bitwise ETF proposal. Good thing is, I dont see the price going downward. Though, lets not be comfortable with it. People might start selling, just as what you have mentioned, its advantageous for the investors who bought Bitcoin at around $7,700 to sell at this point.

[Wexnident]

People in the world of cryptocurrency especially those interested with Bitcoin are happy and ecstatic to realize that their favorite coin made a good pump and is now hovering at around $8,500 which I did not see coming because I assumed that it will be moving sideways in the vicinity of $8,100-$8,200. Those who bought their Bitcoin when it dipped to $7,700+ are now thinking if it is more advantageous to convert them to USDT take some profits and wait some more time for another dip.

I am taking a good quote here from an analysis: "On October 7, the Bitcoin price made a rapid upward move from $7700 to $8300. On October 9, cryptocurrency analyst @D4rkEnergYYY identified a bull flag in the BTC price, which is a bullish pattern. Furthermore, since this pattern allowed the upward move from October 7, it is very likely to act as a continuation pattern. The potential target following a breakout from this move is found at $8600."

Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

I guess it could be probable? We always see an increase in price during the Q4 of the year. As for observing this as a possible occurence of a bull run, it's probably possible since we saw the price drop of bitcoin to 7600$ which suddenly saw an increase as of today. I totally expected it to move sideways and start increasing by December but what happened was completely out of my expectations.

[maydna]

Yes, of course. The price now gets into $8600 zone as I see the chance to break the higher price is in there. But we need to be careful if somehow, the price is down for a while because the market seems to moves fast now. Finally, we can break $8600, I think the price will stay at the price for a while and perhaps, it will adjust for more before it could increase to the higher price. The price now still moving up and down and there are big buy and sell orders. We will see it what happens in the next hours.

[bassbity]

Of course I'm sure Bitcoin will be able to rise to $ 9,000 but that's at the end of October, but if it happens tomorrow to redeem $ 9,000 then I'm happy bitcoin moves so fast and by the end of October it will be more than $ 9k.

[Coin_trader]

Of course I'm sure Bitcoin will be able to rise to $ 9,000 but that's at the end of October, but if it happens tomorrow to redeem $ 9,000 then I'm happy bitcoin moves so fast and by the end of October it will be more than $ 9k.

Show some proof that will support your claims since you are very sure about the price movement of BTC. We can't guarantee that this uptrend will continue since the graph shows that there might be another dip if ever the bulls didn't sustain the momentum.  Let's what will gonna happened this weekend. I'm expecting another pump to 9k too just like what you say to confirm that the bull overcomes the bears. My target of 7.2k dip is still not hit and I believe this will hit once bulls show weakness this weekend.

[TravelMug]

Based on cmc, it briefly touches $8600 and then we are back in the $85++ region again. But I'm sure that we can go and touch it in the next 24 hours as the pattern seems to be bullish but I won't discount the fact that it could also be a bear trap.

So I guess this is what we call a barrier at this point, if we break $8600 tomorrow then obviously the next ramp up should be $8800-$8900. Short term goal here is $9k.

[sunsilk]

Based on cmc, it briefly touches $8600 and then we are back in the $85++ region again.

Yes, I just saw bitcoin tapped $8,600 for a while but didn't stayed there. And now, I think it will take time to tap $8,800 - $9,000 just like what op is asking. I see some bloods again to the alts so I'm expecting that bitcoin do the same.

Of course I'm sure Bitcoin will be able to rise to $ 9,000 but that's at the end of October, but if it happens tomorrow to redeem $ 9,000 then I'm happy bitcoin moves so fast and by the end of October it will be more than $ 9k.

By the end of this month, that's enough time to see for $9,000. But we knew it that bitcoin moves quicker everytime we're speculating.

[Red-Apple]

of course in short term while being zoomed in, $8600 seems like something to keep and eye on but i don't think $8600 zone is really that important for the price movements that we are looking for. the main target that everyone has their eyes on is the $9k resistance which i think has a tremendous effect on whether we see $12k within a week or not.

[1Referee]

bitcoin now trading around 8500 per btc. prices try to broke bearish trend that dominate especially since start bakkt.yesterday the market showed that bitcoin can pump easily at any moment .in my opinion bitcoin will back to level 9000 ---10000 next days

Don't calculate your profits just yet.

The trend has not changed and will not change until we break through the 200 daily moving average and close above it. It's a moving average the big money institutions use as an indicator to determine trend changes, and they shifted extremely bearish a while ago already. Notice how easily we had a close below the 200 daily, while we are now struggling hard to close above it. This is indicative of strong bearish momentum.

With yesterday's increase we had some volume coming in, but that's largely gone now. It won't take long before we trend down to $8000 in the coming days, unless the bulls have something up their sleeve (which I don't expect).

[bryant.coleman]

As usual, Bitcoin users are getting grumpy and impatient rather than celebrating the recent rise in the exchange rates. Two days back, the Bitcoin prices had dipped to $7,800 per coin (from $8,200 per coin). And suddenly, it rose by more than 10% to end up at $8,600 per coin. Now the prices seems to be stabilizing at around $8,500 and a few of the users are spreading the FUD making use of this slight dip from $8.6K to $8.5K.

With the number of active users and growth in adoption, Bitcoin at four digit prices is looking extremely under-priced. Now I am not sure whether the bears are manipulating the exchanges and artificially keeping the prices down. But my opinion is that even if that is the case, they won't be able to do that in the long term. The prices will rise, but I can't sat how much time it is going to take.

[crzy]

Its time now to turn around and bitcoin are doing its best to go up before the year end, i guess the bottom was hit already and we have to wait for more weeks to see the good price. I’m confident that bitcoin will go back to $10k level and beyond, still have time to buy folks.

[CarnagexD]

Of course I'm sure Bitcoin will be able to rise to $ 9,000 but that's at the end of October, but if it happens tomorrow to redeem $ 9,000 then I'm happy bitcoin moves so fast and by the end of October it will be more than $ 9k.

Even bitcoin is fast on rising you should know that bitcoin is also fast when decreasing. The price of bitcoin might be stable in the price of 8400$ to 8800$ but, yesterday the price of bitcoin step in the price of 8600$ and on that time I believe it will continue on increasing. There are 21 days before the end of October so let's see if bitcoin will hit the price of 9000$ or it might surpass that price. But, it is better if bitcoin will totally surpass that price.

[Meowth05]

Of course I'm sure Bitcoin will be able to rise to $ 9,000 but that's at the end of October, but if it happens tomorrow to redeem $ 9,000 then I'm happy bitcoin moves so fast and by the end of October it will be more than $ 9k.

Even bitcoin is fast on rising you should know that bitcoin is also fast when decreasing. The price of bitcoin might be stable in the price of 8400$ to 8800$ but, yesterday the price of bitcoin step in the price of 8600$ and on that time I believe it will continue on increasing. There are 21 days before the end of October so let's see if bitcoin will hit the price of 9000$ or it might surpass that price. But, it is better if bitcoin will totally surpass that price.

Bitcoin is capable to alter in a short amount of time hence, we should be aware of the movement all the time. Bitcoin would definitely hit the $8400 or even more but I don't know when it will occur probably before October ends or before this year-end. Bitcoin is really tricky its hard to tell if it's going to pump or going for a dip. The best option to do in this situation is to hold, have the patience for the uptrend to come and your effort will be worth it.

[The Sceptical Chymist]

I assumed that it will be moving sideways in the vicinity of $8,100-$8,200. 

Ah, you should never assume anything like that with bitcoin.  That wasn't a trend for long, was it?  That said, by tomorrow bitcoin could be back in that range or lower.

As far as this goes:

Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

It's certainly possible, but I think speculating whether bitcoin is going to gain $100 in value within a day is kind of pointless.  That kind of movement is just noise.  Even if it hit $9k tomorrow, it still wouldn't exactly be a monumental move from where it's at right now, would it?

Oh, by the way OP, why did you question whether traders should cash out their profits to USDT?  Why wouldn't someone who made a profit and wishes to take it off the table just convert to USD (or whatever their local fiat currency is)?  I guess I'm not understanding the allure of these stablecoins, unless a trader wants to keep their funds on an exchange--but even then, that's not a good idea and it seem like it would always be better to cash out into fiat.

[tomahawk9]

around $8,500 which I did not see coming because I assumed that it will be moving sideways in the vicinity of $8,100-$8,200.

Why do people assume things in this market? As someone who's been here since 2017 (according to your Date Registered on this forum), you should know by now that you can't expect anything from this market, just let it surprise you.

Those who bought their Bitcoin when it dipped to $7,700+ are now thinking if it is more advantageous to convert them to USDT

How do you know this exactly? What if those people simply put those coins on their HODL stash and are simply waiting for the next ATH? To be honest though, anyone who bought at those prices and it's quickly thinking of selling is a fool :/

Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

Yesterday the price went up to 8700 for a brief moment and then it went down again. Earlier today it went up to 8600, it's currently sitting at 8500. I think a few more tries and we should test 8700-8800 pretty soon. Although, I wouldn't get my hopes up, I don't perceive an extreme bullish sentiment right now, it could be just me, though.

[BrewMaster]

to get out of this dip we only need the money that went out to come back in and they usually come back with a FOMO and they do that as soon as they see a major rise so that it could act as their strong signal to buy. sometimes it happens when some moving average is broken, sometimes it is triggered by a big news and sometimes it is just the buying power pushing the price upwards enough to break that resistance.
in any case it won't happen with $8600 if you ask me.

[gabbie2010]

bitcoin now trading around 8500 per btc. prices try to broke bearish trend that dominate especially since start bakkt.yesterday the market showed that bitcoin can pump easily at any moment .in my opinion bitcoin will back to level 9000 ---10000 next days

The next resistance of the price of bitcoin is at $8600 of course the price couldn't break the zone for the next resistance at $10000+ hopefully if the rumored SEC approval came to pass then we are in for another bullish market however the price seems to be ranging between $8400 to $8600 ie that zone looks strong although the price had retouch the resistance turned support at $8400 thus another price rally upward is very imminent.

[sujonali1819]

snip
Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

Hmm, I agree that Bitcoin will cross the $ 8,600 level and it is very possible within two days but it seems to me that it may take some time to get to the $ 8,800 - $ 9000 level. Maybe take two to three days longer. But when bitcoin will cross the $9000 level then I don't think it will take too long to cross $ 10000.

Those who bought their Bitcoin when it dipped to $7,700+ are now thinking if it is more advantageous to convert them to USDT

When people have been able to buy Bitcoin at around 7777$ after crossing $14k I would say he is very lucky and he will never want to convert Bitcoin to USDT so quickly.

[Slow death]

Do you agree that maybe today or tomorrow Bitcoin can get past the $8,600 territory and maybe head on towards the $8,800 - $9000 mark?

It is possible that the recent price increase may be due to this:

Bakkt’s Bitcoin Futures Trading Volume Soars 796% in One Day: Report

And if this really is the cause of the price increase, then it shows that we need more demand for the price to increase to reach $9000