Aren't we headed towards getting a 10k (or maybe higher) shot again?

[Stedsm]

I've witnessed that the wicks (abnormal buys/sells) have already taken place in the form of sell (see 1H chart on Binance) and the flag is still not broken towards any side. What do you believe this to be? A bull flag that's yet to shoot BTC to a much higher price than even 10k? This is what happened the last time when it started forming from 7444 area between June - July, 2019 and was shot up to 13970 forming a pole, but it went sideways (or I'd say range bound) for some time with a few small movements that included those 10% dumps and furthermore. Then it broke down to 7800 and 7300 further even after the bull flag pattern. Do you think it'll be opposite this time taking us to a new high for this year? It's November and based on my calculations, BTC had always risen upwards during the last 2 months of any year. What do you think about this?

[exstasie]

I've witnessed that the wicks (abnormal buys/sells) have already taken place in the form of sell (see 1H chart on Binance) and the flag is still not broken towards any side. What do you believe this to be? A bull flag that's yet to shoot BTC to a much higher price than even 10k?

In my opinion we're carving out a bull flag, yes:

It looks like the daily is still building out this bull flag. My overall bias is bullish but it's difficult to rule out something like this:

I'm tempering my expectations though. For the next couple months I'd be surprised if we went much past the $11,000s. I think we're in a similar range to early 2016. A long slow sideways with an upward bias that will eventually bust out with authority towards $20K and beyond.

[dodgrad]

I also think we are in a stabilization phase and the next stage should be bull run, but unfortunately it is not known when it will come. It is possible that it will start this year, or maybe just around halving event in the middle of 2020. The good thing is that the market now looks much calmer and dump or panic sell is very unlikely.

[Duzter]

Right now the market is good to stabilize, and the same is predicted to fluctuate within $9500. This is good opportunity for the day traders to get a regular profit. Probably the market will tend to change by the end of ongoing month marking its $10000 price by the month of December. Once after that can expect more growth to happen.

[Wexlike]

Right now the market is good to stabilize, and the same is predicted to fluctuate within $9500. This is good opportunity for the day traders to get a regular profit. Probably the market will tend to change by the end of ongoing month marking its $10000 price by the month of December. Once after that can expect more growth to happen.

Usually the wedge gets smaller and smaller with each iteration of a scalp, so we'll see how much longer we can stay in this range. To be honest, I would expect a much wider ranger between low 8000s and spikes to a bit over 10000$. Guess Vegeta would be proud of it or just go insane I'm currently waiting for a drop and very much like the following trading range idea of ProwdClown:

[Wexnident]

I hope so. And it seems like this time, unlike the unstable 10k a few weeks ago, the price should remain quite steady when it enters the 10k range since the price pretty much have stabilized right now at 9.3k, when the prices pumps up, the market should be able to accept it.

Though id rather wish the bullrun happens by the start of next year though. At the very least, I want BTC to be solid at 9k and up so that if a market crash suddenly happens, it wouldn't fall too far and just go back to 9k

[pooya87]

everything on the charts point to a big bull run starting with a soon-ish breakout. and the fundamentals are there too, there is lots of good news regarding bitcoin adoption these days on top of all that which should have started this breakout but for some reason it seems like the same range is being forced to stay even though the range is squeezed more into a compacted one each time it is tested.

[hatshepsut93]

everything on the charts point to a big bull run starting with a soon-ish breakout. and the fundamentals are there too, there is lots of good news regarding bitcoin adoption these days on top of all that which should have started this breakout but for some reason it seems like the same range is being forced to stay even though the range is squeezed more into a compacted one each time it is tested.

Imo halvening is the biggest fundamental right now, this time people won't wait for months after it to start buying, everyone knows that halvenings preceded bull runs in the past, so everyone is super ready to buy as soon as the price starts taking off. If you look at this whole year's chart, there's very little slow and steady growth, most price increases were very explosive. This trend will probably continue, so we can easily go to $13-14k in the next jump.

[tinyteapot]

I agree with you on market history which can always repeat itself but we have so many fundamental analysis that can trigger the price towards the bull and the bear at the moment.

The chinese blockchain innovations, the US adamant posture, btc halving, the whales traders and big trading exchanges hackers; all these and few more will determine the price of btc in the next 8 months.

I am of the opinion that btc market is stabilize and it might not be easy to know the direction it will go but as the popular saying - trend is your friend, follow it.

[smyslov]

Bitcoin always prove every year that this is the best performing asset, I just got this from my feeds in one social media,
This data is something that we should consider now, because, next year we could have another all time high, it's time to take action

[2double0]

I don't see the next leg up coming so quick this time because BTC almost broke down its strongest support at 9k just a few moments ago. If it gets strongly declined, then 8750 and may be 8300 is to be seen. I am not too sure about my targets as I'm bullish over BTC and would like to see BTC growing alone just like the rest of you here 'except the shorters'.

[Wind_FURY]

everything on the charts point to a big bull run starting with a soon-ish breakout. and the fundamentals are there too, there is lots of good news regarding bitcoin adoption these days on top of all that which should have started this breakout but for some reason it seems like the same range is being forced to stay even though the range is squeezed more into a compacted one each time it is tested.

Imo halvening is the biggest fundamental right now, this time people won't wait for months after it to start buying, everyone knows that halvenings preceded bull runs in the past, so everyone is super ready to buy as soon as the price starts taking off. If you look at this whole year's chart, there's very little slow and steady growth, most price increases were very explosive. This trend will probably continue, so we can easily go to $13-14k in the next jump.

Then the halving might already be priced in. Plus if that's what the plebs are expecting, the whalecumulators might play themselves against it, and profit.

[Sanitough]

We are, I'm optimistic with that, no TA would convince me because this market has never been measured by TA only.
The price now is currently $9K only, and I don't think at the last month of the year we will start dropping again, that's a bad movement going to the year where btc halving is scheduled.

[carlfebz2]

, BTC had always risen upwards during the last 2 months of any year. What do you think about this?

Its not always yet last year do broke anybodies hope for another bull run which happened on year 2017 but it didnt but rather it do just simply tank
out its price until on next year on where it do make some significant move.Simply means its not possible to have successive price movements on yearly basis
yet it would neither jump,tank,or drop.Good to see if we do at least break that 10k resistance before this year ends and thats already a good holiday gift for anybody. 

[The Sceptical Chymist]

<snip>

Maaan, everything you wrote sounds Greek to me because I'm not into TA, but I do think $10k is going to be the next stop once bitcoin can break out of this range its been in.  The market vibe is definitely more bullish right now than bearish, which is a change from only a month or so ago when bitcoin was at $7k.  I'm just not sure how long it's going to take to get to $10k.  Bitcoin tends to stay stuck for long periods of time and it might be in one of those periods at the moment, even though it's been in the $9k range only since Oct. 26th. 

We are, I'm optimistic with that, no TA would convince me because this market has never been measured by TA only.

I don't believe in TA myself, but bitcoin sort of lends itself to TA since there's no real way to do fundamental analysis with it.  The only thing traders can do is look at the price chart and hope history repeats itself.

[alexsandria]

I hate patterns though. But by following recent events I'd rather say that maybe we got a solid pack of evidences to at least considered that the market will go somehow up till 2019 closes. Still unpredicted. In addition if it fails to go up at the time there still 2020 to put our hopes on, and the most awaited event will show up and for sure market would go up, maybe bull run (hope so) will come in notice.

[Wexnident]

I hate patterns though. But by following recent events I'd rather say that maybe we got a solid pack of evidences to at least considered that the market will go somehow up till 2019 closes. Still unpredicted. In addition if it fails to go up at the time there still 2020 to put our hopes on, and the most awaited event will show up and for sure market would go up, maybe bull run (hope so) will come in notice.

Probably the best thing you could hope for a sure bull run would be the halving by 2020. It's probably the most solid and best bet most crypto users have in assuming that BTC would experience a bull run. Just looking at past examples, every halving has let BTC experience a huge bull run. 2012 halving resulted in BTC reaching 100$, 2016 halving resulted in BTC reaching 6k$. History repeats itself, my dudes.

[Wilhelm]

Still 188 days until the halving. After that we will see a new ATH between $50k-$70k. Spike could go as insane as $250k so fasten your seatbelts.
My estimate is an ATH in about 250 days....

[BitHodler]

Current price action doesn't seem very bullish to me, so I expect this to drag on for a while as there are various formations that could be forming as we speak.... only a proper break up or down will highlight the correct one.

Some people think we broke out of a descending triangle, but it doesn't look to be so as that usually results in much higher volume generation, something we don't have right now.

We're still well above the $7.3k mark so that is still positive, but I have to admit to not be as confident anymore as I was some days ago.... glad I'm just hodling and not trading my gut feelings.

[arwin100]

I hate patterns though. But by following recent events I'd rather say that maybe we got a solid pack of evidences to at least considered that the market will go somehow up till 2019 closes. Still unpredicted. In addition if it fails to go up at the time there still 2020 to put our hopes on, and the most awaited event will show up and for sure market would go up, maybe bull run (hope so) will come in notice.

Probably the best thing you could hope for a sure bull run would be the halving by 2020. It's probably the most solid and best bet most crypto users have in assuming that BTC would experience a bull run. Just looking at past examples, every halving has let BTC experience a huge bull run. 2012 halving resulted in BTC reaching 100$, 2016 halving resulted in BTC reaching 6k$. History repeats itself, my dudes.

Many people hope for that to be happen and let see if there's another miracle to come since there are positive output that can bring the price to another ATH but let see how things going in next following days since if there are many people still believing that we can get another big pump next for sure it will create a big impact to the market.