Will Bitcoin Get into the $8600 Zone?

[Wysi]

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.

Well, Honestly the market has never been so unpredictable due to the past events as we can see that the bitcoin has reached back a good value but still we all have fear or illusion in our mind that the price may drop anytime as we are used to dump whenever the value is growing and then suddenly slows down. I am no different even I feel the same.

[Docnaster]

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.

Sadly market does not move based on sentiments. $8000 is not a true support zone. It is $7600. Take a look at the charts before you say that $8000 is the support zone. Just because there are some corrections at that level, does not mean it becomes a support zone.

[Oceat]

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.

Sadly market does not move based on sentiments. $8000 is not a true support zone. It is $7600. Take a look at the charts before you say that $8000 is the support zone. Just because there are some corrections at that level, does not mean it becomes a support zone.

Well, that's what I see in my chart.

But just like I said, I think it is but I think you might be right because I haven't calculated the corrections yet.
But the market price is acting it this way, although we haven't seen the end of the road to say things that we don't know yet.

[STT]

Market wont respect round numbers especially.   We are in weak position and imo its like that for near to medium term.  It will stablise at some point but I see the drift as down for now



Also support lost, becomes resistance that must be passed with some strength and then confirmed as solid ground once again otherwise assume its a ceiling.
  Target upside is 9200 I think if we get higher, thats another trend but less aggressive and below we have the previous lows of 7600 or so.   We are below 200 and weekly and monthly averages so there is a confirmation of a negative phase to price for now.   I guess we can add in an ETF for BTC got turned down but I dont really count that, maybe the Libra opposition counts as more significant.  I'd say trying to match the news to performance is more difficult then just taking the number sequence we have and noting lower high prices and it seems also a decrease on every low to a lesser price.     Always good to keep watching for a change in mood though.

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?

Market is full of common people and I'm just another one of them, I dont count anyone as perfectly accurate anymore theres tons of bias.   200 day average is just plain maths, how people suppose that it means anything is upto them but its widely watched.

[henmark]

I doubt we would touch those levels before end of this month, there has been a good sell pressure on bitcoin for a while now and even with that we have been holding at above $8k for a long time, if there was any indication that bitcoin would fall it would have already happened, only reason why could potentially go under $8k would be people not buying anymore like they are right now or people selling more than they are selling right now and I do not see neither going to happen any time soon.

Yeah, there is always a probability but we have never worked on a chance of something happening, we are working on something probable to happen and I see a big increase coming soon as soon as the sellers let their foot off the gas. Isn't that more possible that closes resistance is way too close whereas closes support looks way more strong.

[Ferris419]

I don't think Bitcoin's price would hit 8600-9K USD before the December month! Bitcoin's price recent movement is not positive enough to think 9-10K USD. I heard BTC would hit 10K USD in October, there were many predictions about it, but again, those predictions are now failed! So, this year may gonna be the same as the previous year. The crypto market can dump in November! Again I don't know the future, this is another prediction according to my research!

[Silberman]

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?

This has been my posture for a very long time, at first I was very excited to see if ETFs were going to bring a huge interest to this market but after they had been rejected so many times I stopped caring and to this day I do not know if one of them was approved or not, it seems to me that the issue of their approval was being used as a weapon against this market to try to control it but they have overplayed their hand and now most people like us simply do not care.

[STT]

The ETF would only be relevant if its speculating or holding an asset in this market not vice versa, it was never going to be a main feature just some believed it was indicative of broader market interest and accessibility.    Big companies can in any case hold BTC and even on my personal pension I can arrange some holding of BTC if I wanted however I choose to do it personally which obviously is an option for all.
   Theres many paths the public can be involved with BTC and the ETF I dont think is that relevant.   If the ETF was restricted to high worth sophisticated individuals then it'd probably be allowed but that would miss the point I guess.   Iam bullish on BTC if it keeps on trying to improve its usability and ease of access so anyone can make use of it without hassle or worries.

[BitHodler]

So, this year may gonna be the same as the previous year. The crypto market can dump in November! Again I don't know the future, this is another prediction according to my research!

It's indeed very likely that we will see the same scenario unfold, but with less damage this time considering the fact that we have not had an extremely parabolic bull run similar to 2013 and 2017 so there is less to shake off.

Obviously, that's just an opinion of mine and we can still head for much lower levels.... markets don't always have to repeat the past, no matter how much fundamental growth they have gone through throughout the last couple of years.

[Dr.Osh]

So, this year may gonna be the same as the previous year. The crypto market can dump in November! Again I don't know the future, this is another prediction according to my research!

It's indeed very likely that we will see the same scenario unfold, but with less damage this time considering the fact that we have not had an extremely parabolic bull run similar to 2013 and 2017 so there is less to shake off.

Obviously, that's just an opinion of mine and we can still head for much lower levels.... markets don't always have to repeat the past, no matter how much fundamental growth they have gone through throughout the last couple of years.

reality like that. but people are so enthusiastic about saying that the price of bitcoin will repeat itself like 2017, or even touch the new ATH. The market may be dumping in November, but I am pretty sure that the price of bitcoin will again rise even past the $ 8600 level this year.

Well, there is no strong information about it, I can only rely on halving that will happen. it is also the core of people's thinking that the price of bitcoin will increase.

[strunberg]

I don't think Bitcoin's price would hit 8600-9K USD before the December month! Bitcoin's price recent movement is not positive enough to think 9-10K USD. I heard BTC would hit 10K USD in October, there were many predictions about it, but again, those predictions are now failed! So, this year may gonna be the same as the previous year. The crypto market can dump in November! Again I don't know the future, this is another prediction according to my research!

technically i am agree with your.based on chart i am still see bitcoin price still has possibility to going down again.the worst scenario bitcoin could hit on around $5700.but one again , it just our own prediction that could be wrong or true.just be dinamic while we see movement , even that extreme movement or only usuall movement.we need to prepare our money in order to catch best opportunity when it crashing again.

[LUCKMCFLY]

<..>

These last 3 days some whales moving some Bitcoins to Exchanges like Binance, Bitfinex, in fact there have been many alerts through @whale_alert, I think they are taking a position to do their already planned strategies. In fact in this article: Whales trade big despite stagnant Bitcoin market, decrypt.co you can see that it has attracted the attention of many, it is possible that the market is now taking a good turn, there is an area of ​​opportunity that as of today is beginning to change, the price has increased, $ 8600 It is seen as an area of ​​opportunity where bulls can defend positions.

The fact that it is located at $ 8600 is beneficial, because the offer at those levels would be being tested, which is good, it is very possible that you can quickly jump to $ 9k if the road is without much offer, I think the possibility is open , in that price range we could think of a possible bullish rally, to see how such bears react, it can give the opportunity to create possible liquidity zones to resist any bearish attack.

Although it seems to me to make a prediction at the moment seems irresponsible to me, I think that many are thinking of a bearish market and something that this type of market has taught me is that the opposite is happent what the mass thinks, that's why I think that There may be a very good bullish rebound, but it is my way of seeing the Bitcoin market.

[STT]

We have a challenge occuring to the trend and 8 day average, turns out week open is quite positive for BTC



If it can confirm above  the declining trend on 4hr bars and perhaps stay above $8200 for Asia trading then we might get $8600 or higher; though both monthly and 200 day average are remaining as hurdles in this area as a cap to any further aspirations.

[error08]

Unfortunately, bitcoin can't hold its position above $8500 for a while and hovering around $8200-$8300.
Right now bitcoin still maintains $7900 as the bottom line for a few days, pretty strong at this point.
personally, I believe bitcoin will drop to $7500 and if the market still bearish, $7000 should be the lowest level before it rises up to $8K again.

[gandame]

Bitcoin price drop now at $7900 so i think its gonna be drop around $7200 before the end of this month.
And many investor that will gonna buy for it because they are waiting that bitcoin price will drop.

[Wysi]

Bitcoin price drop now at $7900 so i think its gonna be drop around $7200 before the end of this month.
And many investor that will gonna buy for it because they are waiting that bitcoin price will drop.

But we are witnessing this minor drop and increase from last few weeks wherein it's neither going below $7,500 nor going beyondand $8,500. I am slightly clueless how things will be in upcoming quarter but yes the price will increase but not sure when. Investors will be playing a key role this time as they can either go for bitcoin or Ethereum as they might not choose to invest in ICO like they did last year.

[error08]

Bitcoin price drop now at $7900 so i think its gonna be drop around $7200 before the end of this month.
And many investor that will gonna buy for it because they are waiting that bitcoin price will drop.

Nope, bitcoin going otherwise, get back anove $8200.
It won't fall to $7200 anytime this month, even drop to $7700 seems doubtful at this point.
Probably bitcoin will start to slowly climb up to reach $9000 next month.

[bassbity]

Bitcoin price drop now at $7900 so i think its gonna be drop around $7200 before the end of this month.
And many investor that will gonna buy for it because they are waiting that bitcoin price will drop.

Nope, bitcoin going otherwise, get back anove $8200.
It won't fall to $7200 anytime this month, even drop to $7700 seems doubtful at this point.
Probably bitcoin will start to slowly climb up to reach $9000 next month.

Yes bitcoin is back up and many are waiting for bitcoin to go down to $ 7,700. It's impossible I said the lowest bitcoin is $ 8,000, but I also hope that in November bitcoin can reach $ 9,000 that's my initial target.

[BigBos]

Bitcoin price drop now at $7900 so i think its gonna be drop around $7200 before the end of this month.
And many investor that will gonna buy for it because they are waiting that bitcoin price will drop.

Nope, bitcoin going otherwise, get back anove $8200.
It won't fall to $7200 anytime this month, even drop to $7700 seems doubtful at this point.
Probably bitcoin will start to slowly climb up to reach $9000 next month.

nobody knows about this. if we look at a few months ago, the price of bitcoin always shows the same thing, like the price starts to fall at the end of the month, and rises at the beginning of the month. if the price of bitcoin stays above $ 8500 at the end of this month, there is a high probability that the price of bitcoin in the next year could touch the price of $ 9,000. this is my prediction.

[sana54210]

I still think this month is a good timing to go back to over 9 thousand dollars, after all everyone is expecting bitcoin to stay around these levels or go down right now, nobody expects bitcoin to be 9 thousand tomorrow right? How many people are ready for something like that?

So, if whales decide to manipulate the market and make the price go up, they will be the few who made a profit from this and that is why I think they are working on it. Yeah, it may take some time to collaborate together again for the price manipulation but if they manage to I think the next 10 days is very crucial for them. If the price goes up in November or December that would be expected because price has been low for a while now and eventually going up is expected but if it goes up in the next 10 days that would be unexpected.