Will Bitcoin Get into the $8600 Zone?

[exstasie]

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

Clickbait title if I've ever seen one. Daily volume grew by 796% because the previous day was Bakkt’s lowest volume day yet.

"The market crashed? It must have been because Bakkt only traded 149 BTC in a day! Oh wait, the market pumped? It must have been that 224 BTC that traded on Bakkt!"

Dumbest. Narrative. Ever.

[ardentvolcanoes]

If only speculation, i will agree if bitcoin will reach $9000 or more. Because maybe it is time to accumulate before halving. But i am concerned too about christmas, usually price dumped because people withdraw their money to do holiday. Maybe sometime market volume trading not much as usual.

Yeah right accumulation while the value still cheap, regarding to the holiday season where also chances that investors will bring new money out from bonuses from their regular day jobs. If that happens price movement will be positive and can go up, $9k can be a good grounds then trues to build more barriers.

Let's be positive and continue to observe if bitcoin will break out and pumped high again.

[Wysi]

If only speculation, i will agree if bitcoin will reach $9000 or more. Because maybe it is time to accumulate before halving. But i am concerned too about christmas, usually price dumped because people withdraw their money to do holiday. Maybe sometime market volume trading not much as usual.

I have a bitter experience with christmas/new year price dump as there is a set of people who always claims that the value of bitcoin will increase during the end of the year which proved wrong last year as well as the year prior to that wherein the value of bitcoin started to fall after christmas. This year it's a whole different due to price corrction which has happened till now and yes just for the sake of speculation i could vouch on $6,000 mark.

[Harlot]

If only speculation, i will agree if bitcoin will reach $9000 or more. Because maybe it is time to accumulate before halving. But i am concerned too about christmas, usually price dumped because people withdraw their money to do holiday. Maybe sometime market volume trading not much as usual.

This isn't absolutely true. If you recall December 2017 the bull run started as early as July that year and ended up going down during January of 2018, even though it started to fall from 19,000$ during December it still managed to go up from 11,000$ to 17,000$ from December 22 to January 6, 2018 making your holiday theory not possible. Holidays for me in the market don't really have an affect or any kind of factor influencing the prices the market itself is the only thing affecting the prices and maybe the news surrounding it. If you don't believe me just check out the charts and you will see no pattern involving Christmas season and Bitcoin's price movement or even the overall crypto market's price movement.

[STT]

I have doubt Bitcoin will have a hard time breaking to $8,600.

The ETF proposal will be rejected as others have been because it allows pension fund investment that they dont want involved with BTC and also sanctions a foreign market.  I dont think anything has changed for them until the ETF is quite restricted in potential users, they wont allow it like GLD for example.

8600 is the 200 day average at the moment so it is struggling some.  I think we have a small area its trying to break out of with small bearish and bullish trends.

[leowonderful]

The ETF proposal will be rejected as others have been because it allows pension fund investment that they dont want involved with BTC and also sanctions a foreign market.  I dont think anything has changed for them until the ETF is quite restricted in potential users, they wont allow it like GLD for example.

8600 is the 200 day average at the moment so it is struggling some.  I think we have a small area its trying to break out of with small bearish and bullish trends.

Image removed to save space

Definitely looks like the 200DMA is in play at the moment. We've had many wicks through it and even a few 4H candle closes above the 200MA from looking at the 4H 1200MA (basically identical to the 1D 200MA), but it seems like the current 4H candle bounced off the 200MA again and we're hugging pretty close to it without breaking through. In the very short term I believe there's a possibility we could break down from here, though most dumps seem to be bought up quickly from the wicks on the 4H.  

Daily MACD's also starting to trend into the green after weeks of being in the red before and after the break of the descending triangle. Could be the start of an uptrend from here.

[samcrypto]

If only speculation, i will agree if bitcoin will reach $9000 or more. Because maybe it is time to accumulate before halving. But i am concerned too about christmas, usually price dumped because people withdraw their money to do holiday. Maybe sometime market volume trading not much as usual.

A speculation that will be hit soon, we are near at the level of $8600 and if we break that, the momentum will continue and hopefully bitcoin to make a new high after a big dump. We have to wait patiently, stop panicking and trust the trend of bitcoin, its time to reverse and bitcoin will do its best to make a new ATH before the halving.

[lionheart78]

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?

It seems Bitcoin had broken the 8500+ resistance and is now at $8600 + zone, there is a TA from tradingview that we can visit $9000 soon.  According to this TA, https://www.tradingview.com/chart/BTCUSD/2tow9eLv-BITCOIN-You-See-Everything-by-Your-Own/



Important Note:

Let's start. We have two charts: $BTCUSD on the left side, $BTCUSD on the right side. You might or might not know it, $BTC really likes to draw the same patterns or combinations of patterns on both, small and big time frames. On the left side there is a 2017 bull-run, while the right side shows nowadays.

I hope you've already noticed that on the right side there is forming a bullish pattern - Double Top. This pattern indicates the next high at the $15000 level, the local ATH is located at the same $15000 level. On the left side we have the first ATH at the $19000 level, but the second local ATH was located at the $15000.

I can explain this difference by the fact that in December 2017 the price was pumping insanely, everyone expected ATH at $15000 or $17000, but not at $19000. Thus, previous ATH was formed “by accident”, unlike the current ATH ($15000) which is adequate.

No matter how strange this sounds, but I don't mean that the price should simply go down after the formation of a Double Top . If we take a look at the chart more globally, we would notice that the price is forming another large Triangle with the flat resistance and ascending bottom, which means that the price will break through the $15000 level and will form the same Double Top in the $19000 zone. This pattern, in its turn, will form another triangle with flat resistance on the weekly chart and then the charts will be completely identical.

and from the previous post I made where I share another TA from tradingview about BTC chart confirming possible $9000 price

[Ayiranorea]

Right now all I look into is the $9000 zone. The price of bitcoin has been growing without experiencing any big crash due to whales or other events. Over the past few days the price was moving within $7900-$8300. From there it has increased and now the price seems to move between $8300-$8650. I believe the growth to take place in such a form till the ending month of the year.

[minersday]

Bitcoin will be moving back into the $10k zone very soon before october comes to an end.  In as much that Bitcoin might be struggling at the $8k at the moment, i see it entering back into the $10k zone before october comes to an end.

[TGD]

If only speculation, i will agree if bitcoin will reach $9000 or more. Because maybe it is time to accumulate before halving. But i am concerned too about christmas, usually price dumped because people withdraw their money to do holiday. Maybe sometime market volume trading not much as usual.

As the OP post , the price reached $8700 already earlier and now to $8500,Any price between $8k to $10k is possible this month and until halving , though some really withdraw to spend in holiday it may also possible many who have bonus may buy too. Though I don't usually use my holdings during Holidays historical data didn't show that December brings so much dump, it will re accumulate before halving too if ever drops.

[Dart18]

Yes, anytime it could happen.
Do you have any doubts about it?

Bitcoin had been one of the most volatile of all. Even in minutes it could plunge to a low price or get a new all time high.
Still, I think the dump is finished. We might be seeing a consecutive pump this week until Sunday.
Just my speculation though.

[buwaytress]

Well, what do you know. I wake up, get ready to sell a bit of Bitcoin. Friday, I like to put up trade on LBC, get my weekend stuff done. And then just as I put the trades active, price shoots up. Right into and above the USD 8600 zone. Happy me.

But no one bought anything. Even though my trades are cheapest (Appears top in my area). And then price slaps down hard to current at around 8450.

Then my trades are accepted.

Life goes on, eh?

[Reid]

Almost 8400 by now so I think it can reach that amount in just a little while.

Even before we could see bitcoin going to new heights in just minutes. If we are waiting for a day or even a week then we might see it even more than 8600.
Besides, we fell from 12k and I bet it could hit that number again anytime soon. Ber months had been the time where people spend money. I hope they spend it with bitcoin now. 

[Sadlife]

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?

we almost got it last night when Bitcoin climbed to above $8,500but suddenly does not have the power to continue and now fall again to 8,400usd but maybe in the next day Hopefully we can hit that so the $9k is the next target

Bitcoin will be moving back into the $10k zone very soon before october comes to an end.  In as much that Bitcoin might be struggling at the $8k at the moment, i see it entering back into the $10k zone before october comes to an end.

any link or TA about this?seems that you are bullish in your own speculation mate?anyway all of us looking for this but at least we must not expect too much as we can be a failure again

[AliMan]

Bitcoin will be moving back into the $10k zone very soon before october comes to an end.  In as much that Bitcoin might be struggling at the $8k at the moment, i see it entering back into the $10k zone before october comes to an end.

Bitcoin will growing faster so your expectation will possible on end of this month. But yesterday we are all see some gradual growing in crypto market and again it is slowly get back to the 8.2K USD. Many experts are said it will cross the 13k USD on end of the year because we are all see some good growing on this year and little dump last month so mid term and long term relationship is good for this project.

The price shows a recovering signs after we experience a great fall from $10K down to $7.8K, and now it started to established a stable momentum. Current market value of bitcoin today as per checking it was at around $8,354 with little fluctuating trend, good as stable for several minutes. I think it's possible to get on that price of $8.6K or higher and hopefully we will surpass the projected price reaching towards $10K in the first place.

[el kaka22]

It seemed we are finally over that Bakkt bear time, I mean it all depends on where it will go from here but at the end of the day we broke the trend and thats what matters to us, if the price kept going down and up around the same price it would have been a boring period but we broke it and now we are above.

Bulls should be coming in any moment now, I am expecting another $10k+ soon, and I mean really soon, like a week from now we should be at around $10k. People do not realize the importance of breaking the trends upwards, all the increases in bitcoin world happen right after we moved above the trends, no exceptions, which means bitcoin will once again go to a high price if history repeats itself. I wouldn't mind going above $13k as well once again but I am realistic and say $10k is enough.

[Silberman]

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?

Bitcoin got really close to your mark but since then the price has been going down, to me we are in a very difficult situation for those that are trying to predict the market, the price of bitcoin is being too erratic, so before I commit my money to one side or the other I prefer to wait and look for a very clear signal that the price of bitcoin is going to take one direction or the other, obviously this way of trading does not produce as much profits but it is safer.

[bitbunnny]

It seemed we are finally over that Bakkt bear time, I mean it all depends on where it will go from here but at the end of the day we broke the trend and thats what matters to us, if the price kept going down and up around the same price it would have been a boring period but we broke it and now we are above.

Bulls should be coming in any moment now, I am expecting another $10k+ soon, and I mean really soon, like a week from now we should be at around $10k. People do not realize the importance of breaking the trends upwards, all the increases in bitcoin world happen right after we moved above the trends, no exceptions, which means bitcoin will once again go to a high price if history repeats itself. I wouldn't mind going above $13k as well once again but I am realistic and say $10k is enough.

Very optimistic prediction. Having in mind past Bitcoin behaviour I would say that we are closer to.another correction that pump to 10000$ or more. To my opinion price will continue to fluctuate until end of the year and I don't think that upper level will be 10000$ max and that is at current moment optimistc prediction. Bakkt doesn't play any role in it, not positive or negative.

[teosanru]

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?

Bitcoin got really close to your mark but since then the price has been going down, to me we are in a very difficult situation for those that are trying to predict the market, the price of bitcoin is being too erratic, so before I commit my money to one side or the other I prefer to wait and look for a very clear signal that the price of bitcoin is going to take one direction or the other, obviously this way of trading does not produce as much profits but it is safer.

I think this was expected price pumped upto $8500 and then now retraced back down to $8400 market moves up and down in waves and not in an erect position. So obviously people need to relax a bit rather than thinking that we will go to 19k in a straight line. Current Analysis is pretty bullish and it's pretty sure that we will reach 9k in a day or a two if we are able to survive over 8k. Technical Analysis is always a lots of ifs and buts and this is how market works. Bitcoin can soon go back to $8600 territory.

It seemed we are finally over that Bakkt bear time, I mean it all depends on where it will go from here but at the end of the day we broke the trend and thats what matters to us, if the price kept going down and up around the same price it would have been a boring period but we broke it and now we are above.

Bulls should be coming in any moment now, I am expecting another $10k+ soon, and I mean really soon, like a week from now we should be at around $10k. People do not realize the importance of breaking the trends upwards, all the increases in bitcoin world happen right after we moved above the trends, no exceptions, which means bitcoin will once again go to a high price if history repeats itself. I wouldn't mind going above $13k as well once again but I am realistic and say $10k is enough.

People expecting that Bakkt would skyrocket the price are pretty over ambitious I must say. Just launch of a mere future can never skyrocket price of btc unless it receives a hell lot of volume.