Will Bitcoin Get into the $8600 Zone?

[bhabygrim]

It is possible to happen we did seen it before the market could move up so quickly so I think that it could happen anytime soon.
I also think that it could go up to $10,000 before this year ends or way more higher than that.
I think that it could start to pump in December and it would continue to grow due to the halving .

[darewaller]

I have noticed something about bitcoin, at the point that bitcoin is being celebrated is when the price dumps, but at the point where bitcoin is being frowned upon is when bitcoin starts to decline in value which I think this has been the nature of bitcoin even since inception, it was at the point that people were forgetting about bitcoin that it started rising so high till it reached the last all time high that we are still waiting for to be achieved right now, and I believe that in future with time, the value of bitcoin will increase almost 2x of the last all time high.

It is now that many people were even predicting that they are seeing bitcoin fall to $7000 that it started making a whole lot of recovery and this is indeed a very good news. People will be encouraged again to stay lively.

[adaseb]

When we hit the $8800 yesterday the rejection was pretty dramatic and very bearish. The outlook is not looking good. I am expecting a run to the $8500 area and from there the bears will appear and try and short it down to the $8000 area again.

The $8800 is significant because it was the high on Sept 25 2019 which was the day after the $9000 support broke. I was expecting at least $9000 area to get tested however looks like the whales front-ran many traders who were either going to use $9000 to get out at break-even or use it to enter a short. If we get more daily higher lows forming then I will be bullish again but now its too early to tell the outcome.

[BitHodler]

When we hit the $8800 yesterday the rejection was pretty dramatic and very bearish. The outlook is not looking good. I am expecting a run to the $8500 area and from there the bears will appear and try and short it down to the $8000 area again.

We're hovering just over $8.3k now and I expect further declines over the next couple of days. If people are still bullish with Bitcoin behaving like this, they will be woken up in the most brutal way when we dump to $7k.

Improving fundamentals that bulls tend to point at don't help either---the market has to bottom out, and when the trend has turned bearish, it usually comes with a 50-60% correction from the top at the very least, so buckle up.

I was expecting at least $9000 area to get tested however looks like the whales front-ran many traders who were either going to use $9000 to get out at break-even or use it to enter a short.

Close enough is close enough. I'm sure that even if we hit $9k the reaction would be very similar---wicks don't mean anything as long as we don't see an actual close above important moving averages or resistance levels.

[jostorres]

When we hit the $8800 yesterday the rejection was pretty dramatic and very bearish. The outlook is not looking good. I am expecting a run to the $8500 area and from there the bears will appear and try and short it down to the $8000 area again.

The $8800 is significant because it was the high on Sept 25 2019 which was the day after the $9000 support broke. I was expecting at least $9000 area to get tested however looks like the whales front-ran many traders who were either going to use $9000 to get out at break-even or use it to enter a short. If we get more daily higher lows forming then I will be bullish again but now its too early to tell the outcome.

It is funny that despite my concentration on the market this day you mentioned, I never even sited that $8800. Except maybe it happen when I was sleeping, the highest I saw bitcoin grew to that day was $8500 I think, maybe it had dumped then that I did not know, but if it had touched that level then, it is good that it may succeed in breaking the barrier fully within the next few days, which means that we should be expecting the value of $900 to be realistic once again.

I can't wait for the bulls to really make the price recover again, as this will help the pending investors and encourage them in adding more money because $9000 could send a further signal that it will be going to $10k, but at this $8k level is just the best to buy bitcoin more now.

[Docnaster]

8600 is way too short term goal. Think about 18k. That is something that people can speculate on because it seems miles away. 8600 will be breached again and it will sink below that point as well. Hey! It is Bitcoin, it swings more than a woman from the swingers club.

[STT]

Some people want to bet on todays price, guess it right every day and you will soon do better then the ones waiting for 18k which could be years from now.

8600 is the 200 day average so its already fought that battle and come back down from there.     We are on the 8 day average now and its been some support.



Theres a descending trend above, when the two meet we get some fireworks happening I would guess.   So far the general picture to me is consolidation of previous price moves and some negative while below the 200 DMA

[Docnaster]

Some people want to bet on todays price, guess it right every day and you will soon do better then the ones waiting for 18k which could be years from now.

8600 is the 200 day average so its already fought that battle and come back down from there.     We are on the 8 day average now and its been some support.



Theres a descending trend above, when the two meet we get some fireworks happening I would guess.   So far the general picture to me is consolidation of previous price moves and some negative while below the 200 DMA

That is not a very accurate chart. Your lines are not done properly. The 200 day avg you talk about is not what you think it represents. So why don't you leave this to the pro's eh?

[FanEagle]

I think we can broad into $8600 zone all of this year, bitcoin looks to be prime to explode soon but at the same time it looks like it will end up the year very strong as well, by the end of 2019 and start of 2020 we could be way back above $10k and reach to a new yearly highs. 2018 had a yearly low of 3200 dollars, because that trickled down to 2019 we had a yearly down of $3.4k on 2019 as well but we did moved around $4k half of the year, now on 2020 we gonna have at least $8k+ on the bottom, I doubt it will go under that price again in all of 2020 because halving is coming so the bottom is basically doubled.

It is just such a great feeling to see bitcoin grow so much, it is like watching someone grow, we knew it as a baby a decade ago and now we get to see it grow to be something big.

[manok jepang]

I say that the potential for bitcoin to touch the support of $ 7,500 as predicted by many parties is very likely. moreover, the fall of bitcoin in August 2019 and what happened today, will increase the panic of traders or new investors. This is also how they dig and receive information related to bitcoin and BAKKT later. If more and more FUDs are scattered, it could be worse than we thought. Except later, investor confidence will improve, more good news and FOMO may occur. Bitcoin may re-test at $ 8,600 resistance.

[LogitechMouse]

The support of Bitcoin right now is at $8300 and if it can't hold it then the next support is around $8000. There is at around 50-60% chance that it will go higher at around the $8600 zone since the charts are showing that Bitcoin is bullish at this moment for the short term. The next resistance is at around $9200.

[wildey]

I say that the potential for bitcoin to touch the support of $ 7,500 as predicted by many parties is very likely. moreover, the fall of bitcoin in August 2019 and what happened today, will increase the panic of traders or new investors. This is also how they dig and receive information related to bitcoin and BAKKT later. If more and more FUDs are scattered, it could be worse than we thought. Except later, investor confidence will improve, more good news and FOMO may occur. Bitcoin may re-test at $ 8,600 resistance.

until now I am still waiting for information that contains FOMO in it. Well, I think the price of bitcoin is so close to the price of $ 8,700, I think it's pretty easy. however, given the current situation, the fact is that bitcoin is really trying to reach that price. I don't know whether today or tomorrow the price of bitcoin reaches $ 8700, but I'm pretty sure bitcoin can pass that level this month. however, some analyzes that exist today say that if the bear market occurs, it could make the price of bitcoin fall to as low as $ 7700.

[Ctn]

Yes it will go into 8600 zone but it won't stay there for long. There will be an immediate pump after breaking 8500 and we will straight away rest at 8800 and nothing before that. Also this could mark the beginning of another bullish move. We need a lot of FOMO in people for this pump to take place.

[Docnaster]

until now I am still waiting for information that contains FOMO in it. Well, I think the price of bitcoin is so close to the price of $ 8,700, I think it's pretty easy. however, given the current situation, the fact is that bitcoin is really trying to reach that price. I don't know whether today or tomorrow the price of bitcoin reaches $ 8700, but I'm pretty sure bitcoin can pass that level this month. however, some analyzes that exist today say that if the bear market occurs, it could make the price of bitcoin fall to as low as $ 7700.

You are a perfect example of someone that speaks too much but says too little. Maybe we can call this the signature campaign effect?

Returning to topic. Yes, the level of btc price is way too close to 8600, like I said before, it is a very short term speculation. Bitcoin is definitely going to swing past this level. The only question is whether it will be able to sustain it long enough.

Last year the $7200 levels were considered solid as prices hovered there for months before sliding down to this year's $3500 levels. Which is mind boggling if you think about it since the price of this very asset was nearly 6 times that in early 2018. The good thing is, Bitcoin swings happen way too quickly unlike the regular stock markets so history will definitely repeat itself.

[rachmat5893]

in my personal opinion, there might be price fluctuations one week before Bitcoin Futures is launched (only predictions). I personally as a trading player who is more inclined to technical analysis, of course, will be more hopeful if the process of launching Bitcoin futures does not have a significant impact.

[bassbity]

The support of Bitcoin right now is at $8300 and if it can't hold it then the next support is around $8000. There is at around 50-60% chance that it will go higher at around the $8600 zone since the charts are showing that Bitcoin is bullish at this moment for the short term. The next resistance is at around $9200.

I believe bitcoin will not touch the price of $ 8000, in my view bitcoin will be in the position of $ 8800. I think this is the end of October, but to overcome the $ 9,000k resistance it shows at the end of the year.

[iMark]

The support of Bitcoin right now is at $8300 and if it can't hold it then the next support is around $8000. There is at around 50-60% chance that it will go higher at around the $8600 zone since the charts are showing that Bitcoin is bullish at this moment for the short term. The next resistance is at around $9200.

I believe bitcoin will not touch the price of $ 8000, in my view bitcoin will be in the position of $ 8800. I think this is the end of October, but to overcome the $ 9,000k resistance it shows at the end of the year.

Returning to $8k is not impossible, especially with the small difference in price from current prices. if the market conditions are not strong, the price will not be able to penetrate to $9k in the near future. and moreover the market is still very sensitive and easy to panic. the slightest bad news can trigger prices down to $8,000. so for now hope that prices can go up and FOMO happens in the market.

[Silberman]

I think we can broad into $8600 zone all of this year, bitcoin looks to be prime to explode soon but at the same time it looks like it will end up the year very strong as well, by the end of 2019 and start of 2020 we could be way back above $10k and reach to a new yearly highs. 2018 had a yearly low of 3200 dollars, because that trickled down to 2019 we had a yearly down of $3.4k on 2019 as well but we did moved around $4k half of the year, now on 2020 we gonna have at least $8k+ on the bottom, I doubt it will go under that price again in all of 2020 because halving is coming so the bottom is basically doubled.

It is just such a great feeling to see bitcoin grow so much, it is like watching someone grow, we knew it as a baby a decade ago and now we get to see it grow to be something big.

I doubt it because that will basically mean that a price above 8000 dollars is the new bottom and that seems to be too high, it seems more likely to me that the crash is going to continue and we will at least reach 6000 dollars, while for many people this will be a very low price it is still significantly higher than the bottom that we reached the last time the price of bitcoin crashed, and we also need to take into account the dominance of bitcoin over this market which is still too high and it will probably go down during the next months.

[Docnaster]

in my personal opinion, there might be price fluctuations one week before Bitcoin Futures is launched (only predictions). I personally as a trading player who is more inclined to technical analysis, of course, will be more hopeful if the process of launching Bitcoin futures does not have a significant impact.

Actually people don't care about ETF's anymore. Back when it was first being discussed, it might have been important, but now it has been rejected so many times that traders, serious or casuals, just don't care. And I think that's the way it should be.

Remember when everyone was losing their shit about Bakkt launch and the BTC futures then? See what happened? BTC crashed rather than gaining momentum. So let's not worry about BTC futures. If it happens, good.. if not, who cares?

[Oceat]

The support of Bitcoin right now is at $8300 and if it can't hold it then the next support is around $8000. There is at around 50-60% chance that it will go higher at around the $8600 zone since the charts are showing that Bitcoin is bullish at this moment for the short term. The next resistance is at around $9200.

I believe bitcoin will not touch the price of $ 8000, in my view bitcoin will be in the position of $ 8800. I think this is the end of October, but to overcome the $ 9,000k resistance it shows at the end of the year.

Returning to $8k is not impossible, especially with the small difference in price from current prices. if the market conditions are not strong, the price will not be able to penetrate to $9k in the near future. and moreover the market is still very sensitive and easy to panic. the slightest bad news can trigger prices down to $8,000. so for now hope that prices can go up and FOMO happens in the market.

First and foremost, I think $8,000 is the very core of support so it's not impossible to touch it anytime. If there is no FUD then the market will eventually go up following with the sentiments of the people.

The only problem now here is how would Bitcoin break or even reach the $9,000 resistance within this Q4? FOMO would start if the people see some positive sentiment that would eventually starts the bull run but I doubt it will happen this year.