Bitcoin Price Could Soon Surge by 20%?

[CryptoBry]

This is a good analysis and I would be watching for this if this can really be coming trues in the next few days. We are all longing for Bitcoin to get back to the $10K zone as soon as possible. While Bitcoin has been struggling, I can also feel that there remains an energy within the coin to break through this level.

On Saturday evening, the Bitcoin price started to show hints of weakness after a short bout of consolidation. As of the time of writing this, the leading cryptocurrency has dipped to $8,300 — a level which analyst Josh Rager has indicated as key for BTC to hold in order to maintain a formation of consecutively higher lows.

Although there are some expecting for Bitcoin to soon break under $8,300, potentially to establish new multi-month lows under $7,000, an argument has been posed that as long as $7,700 holds, $10,000 is within BTC’s grasp.

I know that we are just speculating here but market sentiment can be a big factor for the movement of the price of any commodity or currency. Are you of the same argument or do you see that Bitcoin will instead go south and be trading below the $7,000 within the coming week? Is Bitcoin now ready to take over the $10,000 price range?

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[pooya87]

although i am hoping to see $10k sooner than later but i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range. of course it is still too early to say and things are still unpredictable. but we are now entering the third week of price being in this range and the market has been calming down a lot too which makes me more confident in what i said.

[adaseb]

What I think will happen is we might reach the $10K area once again but it might end up being another bull trap like in May 2018.

Looking at the weekly charts the $9100 area is the price we need to clear. However I am expecting $9100 to get tested within the next few weeks and also we might touch the $10K area again briefly. However if we manage to close below the $9100 area on the weekly charts then it spells trouble for BTC probably at least until the next halving.

Reason why is because right after every Bitcoin rally there is a support level formed which gets tested many times and eventually breaks that level and what follows is a rejection of that level. The rejection level is the $9000 area.

So basically not a good idea to long or short, need confirmation first.

[Jating]

It's always two fold, getting to $10k again because the sentiments are positive or going South as some are predicting, like in the range of $6k-$7k.

So it's really hard to see where the price will go, recently we see the price surging to $8500 but suddenly went down again to $8300, which indicates that we are in the borderline as of today with no clear path as to where it will go. Of course, we wanted to see the price reaching five digit mark but we will have to see what will be the sentiments at least at the end of this month, so gauge where we are going in short term.

[Oasisman]

Im still positive for the $10,000 range nowadays. If this market situation is similar on May this year, then it probably wont go below the lowest from the last 3 weeks.
Higher lows could also be an indicator that we're not really drowning below the support level.
Now, we just need a good reason for Bitcoin to break the resistance and reach the $10,000 mark. The 2020 halving could be one of the best example.

[exstasie]

What I think will happen is we might reach the $10K area once again but it might end up being another bull trap like in May 2018.

If we clear the low $9,000s then $10K is an obvious bull trap target because it's the top of the weekly failure in September, the apex of the failed triangle, and the 20-week MA......not to mention psychological resistance. Just getting there won't be enough to reverse this downtrend. We need to break through that area with authority.

It should be a real moment of truth.

[timerland]

although i am hoping to see $10k sooner than later but i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range. of course it is still too early to say and things are still unpredictable. but we are now entering the third week of price being in this range and the market has been calming down a lot too which makes me more confident in what i said.

Yep. Exactly what I was thinking, this reminds me of that period where it just swung from 2.5k to 3.3k for a couple months, and with the way things have been going, it's looking like it's the same thing, but at a higher pricepoint.

If we do clear the 9,000 regions this month, 10,000 looks easily achievable and I reckon it'll be just some time before we reach that mark. Only time can tell us!

[gabbie2010]

Presently the price is held or pullback at a support at $8300+ haven broken athe resistance at that zone thus a clear indication that the bulls are gradually taken over the market its very obvious the next resistance is $9000 which is quite achievable before the end of this month the price had rallied for long in that zone before breaking the resistance at $8300 once broken I am well optimistic that the price will sustain the bullish momentum till $9K.

[Red-Apple]

with the recent pull back and the way the buy support held strongly i would say the market is in a pretty good shape. if price could sustain this buy support strength and this small upward momentum we can see the surge very soon.

but i can't agree on one thing. and that's the 20% surge. i think if we start seeing a surge at this point it will be a lot bigger than just 20% and could bring the price back above $10k and closer to $11k whereas 20% will only take it to $9k.

[febriyana]

In short term, maybe this year will really going dip around $7k. I think hard to going bullish this year because Bitcoin need some support to increase the price, for example the adoption and regulation. There is also altcoin not really good to support the Bitcoin, some project is scam, some people think crypto going nowhere.
But let's look what happen. Still hold BTC!

[InvoKing]

although i am hoping to see $10k sooner than later but i am starting to think that we may end up experiencing another prolonged and boring stable phase like what we had at the beginning of this year with $3k range. of course it is still too early to say and things are still unpredictable. but we are now entering the third week of price being in this range and the market has been calming down a lot too which makes me more confident in what i said.

Stable phase isn't bad, better than <$8k before November. I still think things will get better after 1 month from now and the +20% price will be just a start

[cryptoangel]

In short term, maybe this year will really going dip around $7k. I think hard to going bullish this year because Bitcoin need some support to increase the price, for example the adoption and regulation. There is also altcoin not really good to support the Bitcoin, some project is scam, some people think crypto going nowhere.
But let's look what happen. Still hold BTC!

I never expect this much dip on end of the year, Because we are all see some gradual hype on last month before and one dump will affect many investors, at the same time it will trying to grow again so surely it will cross more than 13k on end of the year.
Adoption and regulation will happen it will going to moon and slowly will raise on further days so buy more Bitcoin in this situation we make good profit on end of the year.

[YuginKadoya]

It could even break down 20% down, let's just say that this really is an indicator so we can make it back to the $10,000 USD again let's just embrace the fact that it can go down to $7000 USD but we may see another recovery for the price, 2020 was the initial potential surge up for the price to hit again and make a new all-time high and because of the impending event of Halving this can be a strong reference to that in getting us up again, and I think the next all-time high will be on the $40,000 USD to $ 50,000 USD levels in my opinion.

[teosanru]

I think these types of articles are published everyday by different media websites all over the globe. One set of these blogs say that there would be a 20% surge and the other half says that there would be a 20% breakdown. I personally feel that TA is a very subjective thing everyone can make out his own analysis therefore you can't rely heavily on what a channel says. 7700 is indeed a very important support and has played a crucial role since a month but there are no signs of reaching 10k as of now. I think 9k would be a more realistic approach.

In short term, maybe this year will really going dip around $7k. I think hard to going bullish this year because Bitcoin need some support to increase the price, for example the adoption and regulation. There is also altcoin not really good to support the Bitcoin, some project is scam, some people think crypto going nowhere.
But let's look what happen. Still hold BTC!

I never expect this much dip on end of the year, Because we are all see some gradual hype on last month before and one dump will affect many investors, at the same time it will trying to grow again so surely it will cross more than 13k on end of the year.
Adoption and regulation will happen it will going to moon and slowly will raise on further days so buy more Bitcoin in this situation we make good profit on end of the year.

Currently i Don't hear any adoption or regulation happening around. Even Bakkt futures Haven't created much price pressure for Bitcoin.

[darkangel11]

I'm bullish most of the time so I can feel the pressure building up before the halving and so should you. Bitcoin can get dumped when someone throws a ton of coins onto exchanges but it won't start a big panic. You could see that happen more than once in the last 30 days. They were trying to dump but it always recovered right away. People don't want to get rid of it and the charts are reflecting this attitude. I see us going up to 10k this year and starting a pump towards 20k later on as halving gets closer. Maybe in Spring?

[barota]

yeah , bitcoin Price can recover the area or level 10000 ; why not 10320 per btc before december
for sure there is lot of traders who sold their bitcoin after this fall in prices that already started by end of september , and i think they can bought again espiscially  who sold at 9000 usd per btc because current price better than price of last weeks

[Harlot]

Just don't get your hopes up right now. This price jump they are talking about is highly dependent on the assumption that Bitcoin will hold the 7,700$ support and basing the current chart we have right now I don't think we are in the position to get comfortable that Bitcoin will be bullish anytime soon. If BTC fails to break out the 8,500$ level then we all know that we aren't in the clear yet and we might revisit the 7,000$ range soon. The RSI might look bullish but it is forming a symmetrical curve pattern leading to is on becoming oversold again which means there would be another massive selling happening anytime soon so I would rather stay smart and not depend on a break out as of the moment.

[1Referee]

The RSI might look bullish but it is forming a symmetrical curve pattern leading to is on becoming oversold again which means there would be another massive selling happening anytime soon so I would rather stay smart and not depend on a break out as of the moment.

I never liked RSI for the simple reason that it can indicate a bias towards a certain direction without actually leading to a move.

For every reason people think we might be due for a move up, I can think of twice as many reasons for the price to be due for a correction. Patience is key here. People believed that the $10,000 level was a level we wouldn't really dip under anymore with how "strong" the support was, and the same happens with the $8000 level already.

I follow a simple rule called; the trend is your friend. It's clear that the trend has turned against the bulls and those who go against the trend will be left with a bad taste in their mouth. I really wish I was this rational last year.......

[Harlot]

The RSI might look bullish but it is forming a symmetrical curve pattern leading to is on becoming oversold again which means there would be another massive selling happening anytime soon so I would rather stay smart and not depend on a break out as of the moment.

I never liked RSI for the simple reason that it can indicate a bias towards a certain direction without actually leading to a move.

For every reason people think we might be due for a move up, I can think of twice as many reasons for the price to be due for a correction. Patience is key here. People believed that the $10,000 level was a level we wouldn't really dip under anymore with how "strong" the support was, and the same happens with the $8000 level already.

I follow a simple rule called; the trend is your friend. It's clear that the trend has turned against the bulls and those who go against the trend will be left with a bad taste in their mouth. I really wish I was this rational last year.......

That's why you have other indicators to look at and not only to based your trade because of the RSI. The RSI would just tell you if an asset is overbought or oversold but it doesn't completely say if it will go up or down because of it, other indicators should be used such as MACD and moving averages to confirm a move will happen because of it. RSI can be serve as some kind of indicator that will just point out on where it can move, it sort of gives you a general idea of the current situation. I love the RSI for what it is and I use it anytime just to see on what the next move will be.

[figmentofmyass]

For every reason people think we might be due for a move up, I can think of twice as many reasons for the price to be due for a correction.

the main reason to keep our bearishness in check is that the market's already fallen 45%. from here, there's more room for upside than downside, even if we're just talking about a dead cat bounce in a bear market. we're not just gonna go straight down. there will be a violent move upwards sometime in the next several weeks.

it's prudent to be bearish based on the daily/weekly downtrends. that's only rational. the same was true in the summers of 2013, 2015, and 2016 though. just sayin.......