Bitcoin Price Trend Reversal in Progress?

[crossabdd]

Well, the bitcoin pattern is showing strong resistance to break new gains. I was a little surprised, when most of last week showed down direction, and a lot of speculation the price fell at $ 6000. now bitcoin is breaking patterns and speculation. I hope that bitcoin can penetrate at $ 8,000 until the end of this year.

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[agentx44]

On Sunday Bitcoin (BTC) price revved up to rally from $7,115 to $7,642, providing a 7% gain and an unexpectedly strong weekly close, which now has some analysts suggesting that a trend reversal is in the making.

I don't have a cow.
After all it's Bitcoin.

It's really hard to predict what may happen next with bitcoin considering the continuous intense volatility of it so whenever things like this is happening, we cannot speculate totally that it would keep on increasing or the other way around. We need to be more mindful on what's happening in the market and monitor the price change everyday as much as you can so that you can keep up if it is really moving upward and do what you have to do to gain benefit from your investment on it.

[yulionoo]

I think the increase in bitcoin yesterday was the impact of the previous decline in bitcoin. Previously bitcoin dropped to $ 6400 when this decline most bitcoin traders bought bitcoin and it made the value of bitcoin go up to $ 7600. but today bitcoin has declined again. in my opinion until the end of this year bitcoin will be at $ 7,000. and usually at the beginning of the year bitcoin will decrease. we wait for the beginning of 2020 bitcoin rise or fall?

[EdvinZ]

Throughout the end of the year, we see strong volatility of the Bitcoin's price. Even now, when Bitcoin has risen to 7700 dollars, I am not sure that this means that the market trend will change with a hundred percent probability. It may just be a recovery in the price after a recent fall. I think that Bitcoin should overcome the price limit of 10 thousand dollars, so that we can talk about changing the trend.

[AniviaBtc]

On Sunday Bitcoin (BTC) price revved up to rally from $7,115 to $7,642, providing a 7% gain and an unexpectedly strong weekly close, which now has some analysts suggesting that a trend reversal is in the making.

I don't have a cow.
After all it's Bitcoin.

It's really hard to predict what may happen next with bitcoin considering the continuous intense volatility of it so whenever things like this is happening, we cannot speculate totally that it would keep on increasing or the other way around. We need to be more mindful on what's happening in the market and monitor the price change everyday as much as you can so that you can keep up if it is really moving upward and do what you have to do to gain benefit from your investment on it.

It is literally moving in a downward movement and I can't stand seeing bitcoin experiencing it. But what can we do? We're just a user or a fan of bitcoin and we have nothing to do with it. All we gonna do is to wait and have a lot of patience for years.

Maybe we can just focus temporarily on those altcoins even tho it is not that popular here in our country.

[asus09]

On Sunday Bitcoin (BTC) price revved up to rally from $7,115 to $7,642, providing a 7% gain and an unexpectedly strong weekly close, which now has some analysts suggesting that a trend reversal is in the making.

I don't have a cow.
After all it's Bitcoin.

When bitcoin raise with higher price can't exist more than one week keep with higher, just few hours later bitcoin price back lower and dump again, why bitcoin not become stable coin again but look like altcoin can pump with higher price and later dump more than 100%, many people are playing with bitcoin game because they can make bitcoin suddenly dump just few hours later.

[Savemore]

Well, the bitcoin pattern is showing strong resistance to break new gains. I was a little surprised, when most of last week showed down direction, and a lot of speculation the price fell at $ 6000. now bitcoin is breaking patterns and speculation. I hope that bitcoin can penetrate at $ 8,000 until the end of this year.

There is a resistance between $7000-$8000, when the price became near in that area; we will see that the price will bounce there because that area have a lot of sellers and that is why it called resistance. If the buyer overcome the seller in that area it means that the price breakout in the resistance and it can be a good sign of a market reversal.

[Bitcoin_bullish]

The problem is the plustoken ponzi and the vast amount of Bitcoin they are still trying to mix and dump in the market.
They also have a huge amount of stolen Ethereum that will affect the markets. From what I read around 800.000 eth.

It is funny but some people are saying that plustoken finished dumping. Not even close.
That said, I will still buy at any price bellow 10k which is my plan for 2020.

[Oneandpure]

On Sunday Bitcoin (BTC) price revved up to rally from $7,115 to $7,642, providing a 7% gain and an unexpectedly strong weekly close, which now has some analysts suggesting that a trend reversal is in the making.

I don't have a cow.
After all it's Bitcoin.

Bitcoin is digital currency have unstable price where some time with higher and lower although few second, last day we are happy with bitcoin price change 8% on higher price but this morning we got bitcoin back with lower price, how ever never have big chance to see bitcoin keep stable with higher price always, giving chance for us re investing when bitcoin down and selling after price raise up.

[qiman]

I do not see a Bitcoin rally before the Spring. We may be hovering between 5k USD and 7.5K USD over the next few months, at least in the first quarter of 2020, then maybe we might see a northward bound Price incoming for Bitcoin. This is purely my own hunch for what is happening in the short to midterm as logic dictates with all the holidays coming u until end of January. I believe many on Bitmex are waiting for the big short and when they will make a lot of money when Bitcoin nose dives to the 5k USD ranges. I will be ready to fill a bag and perhaps by one whole Bitcoin once we have that dip incoming. Let us see how things will arise over the next quarter during the holiday time.

[abdobe]

On Sunday Bitcoin (BTC) price revved up to rally from $7,115 to $7,642, providing a 7% gain and an unexpectedly strong weekly close, which now has some analysts suggesting that a trend reversal is in the making.

I don't have a cow.
After all it's Bitcoin.

https://s3.cointelegraph.com/storage/uploads/view/e2e57ce3f5f349ea17bb86d26601360f.png

Volatility is unpredictable. The price may change for a few time, sometimes no one will understand what was the reason. You just need to get used to it.

[Eugenar]

Well, the bitcoin pattern is showing strong resistance to break new gains. I was a little surprised, when most of last week showed down direction, and a lot of speculation the price fell at $ 6000. now bitcoin is breaking patterns and speculation. I hope that bitcoin can penetrate at $ 8,000 until the end of this year.

Even small increase in bitcoin to reach even 8000 dollars is already a big achievement for all of us who hodls cryptocurrency especially bitcoin. But as I can see on the market, speculation is the factor who drives the price of bitcoin why? Because it somehow manipulates the mindset of the people whether to believe the price to go uptrend or downtrend. So the frequency of fuds and positive news will be a big help, plus if they could see the whales buying huge amount of crypto, they might do the same thing as well.

[CodyAlfaridzi]

On Sunday Bitcoin (BTC) price revved up to rally from $7,115 to $7,642, providing a 7% gain and an unexpectedly strong weekly close, which now has some analysts suggesting that a trend reversal is in the making.

I don't have a cow.
After all it's Bitcoin.

Niiiice. I believe the bottom is in. If $6500 isn't breached in the near future we can confidently say the bottom is in and Bitcoin is settng up for another rally after the halving, at least I hope so. Looking strong so far though as Bitcoin breached $7500 recently and still hed support at $7300. I hope this is it, no more bear trend.

[boris2470]

If bitcoin manage to have a daily close with its current price then we might see a trend reversal. However im also looking at CME futures chart gap because those gaps tend to get filled quickly. So ultimately we'll find out sooner in CME futures but most probably bitcoin's next movement will make a dip then retest the $7900-8000 resistance. This is just my opinion.

The market is very inactive now. I am inclined to believe that Bitcoin will not be able to break the resistance of $ 7900-8000 now. The coin needs time to get bullish

[gabbie2010]

Well, the bitcoin pattern is showing strong resistance to break new gains. I was a little surprised, when most of last week showed down direction, and a lot of speculation the price fell at $ 6000. now bitcoin is breaking patterns and speculation. I hope that bitcoin can penetrate at $ 8,000 until the end of this year.

There is a resistance between $7000-$8000, when the price became near in that area; we will see that the price will bounce there because that area have a lot of sellers and that is why it called resistance. If the buyer overcome the seller in that area it means that the price breakout in the resistance and it can be a good sign of a market reversal.

That zone $7200 to $7300 proved to be a very strong resistance the price had already been rejected at that zone although there are many other resistance within that zone as you rightly said I believed if that resistance at $8000 is broken with many buyers in the market a ride upward would be imminent however Christmas is around the corner sellers might impede the bullish movement.

[Jammermob]

Bitcoin is always falling and rising in price. Aren't you used to it yet?

[thirdlight]

Bitcoin is always falling and rising in price. Aren't you used to it yet?

But Bitcoin eventually creates and will create new highs in price for itself, it falls heavily, but also grows even stronger upwards.

[xZork]

Well, the bitcoin pattern is showing strong resistance to break new gains. I was a little surprised, when most of last week showed down direction, and a lot of speculation the price fell at $ 6000. now bitcoin is breaking patterns and speculation. I hope that bitcoin can penetrate at $ 8,000 until the end of this year.

I don't think bitcoin can reach $ 8000 this year. We only have a few days before the end of 2019 and I don't see any signs that bitcoin's price will go up. Perhaps bitcoin will be trading at $ 7000 ~ $ 7,500 in the last days of 2019, and bitcoin can only increase to $ 8000 in February 2020.

[asus09]

On Sunday Bitcoin (BTC) price revved up to rally from $7,115 to $7,642, providing a 7% gain and an unexpectedly strong weekly close, which now has some analysts suggesting that a trend reversal is in the making.

I don't have a cow.
After all it's Bitcoin.

When you coming with crypto world you will not wonder whit bitcoin and altcoin price, just one moment you close your eyes price can be dump and pump suddenly, if you not ready for trading and loss your money with bitcoin and altcoin never close your self with bitcoin investment, its not way to try before your mentality ready when bitcoin and altcoin have lower price.

[TRONTON]

Well, the bitcoin pattern is showing strong resistance to break new gains. I was a little surprised, when most of last week showed down direction, and a lot of speculation the price fell at $ 6000. now bitcoin is breaking patterns and speculation. I hope that bitcoin can penetrate at $ 8,000 until the end of this year.

I don't think bitcoin can reach $ 8000 this year. We only have a few days before the end of 2019 and I don't see any signs that bitcoin's price will go up. Perhaps bitcoin will be trading at $ 7000 ~ $ 7,500 in the last days of 2019, and bitcoin can only increase to $ 8000 in February 2020.

The sign appeared on the 18th and 23rd yesterday, you can see bitcoin at $7,700 and then experience a retracement. The end of the year is still less than a week and there is still enough time to see how the market responds back to $8,000.

The decline is reasonable since the 25th because it has become an agenda where every trader sells assets to celebrate Christmas. there is still gradual speculation in the next two or three days.