Bitcoin Price Trend Reversal in Progress?

[Bitget Future]

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

[Sadlife]

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.

[samuraijin]

bitcoin price increase may be due to buy support at $ 6000, recently the price of bitcoin fell to touch the price of buying support, it seems like it was a hard blow to make prices take above $ 7500, this proves that the game is still being played by big traders

[EdvinZ]

Now Bitcoin is steadily moving up. But do not forget that January is ahead. Usually at the beginning of the year there is a decline in liquidity in the market and the price falls slightly. But now Bitcoin is growing. I have conflicting thoughts about the future price of Bitcoin.

[iamaruf]

No one can predict bitcoin price.It can Goes ups or down anytime.Though bitcoin going to hit ATH in 2020.bitcoin is bitcoin.so don't loss your hope.It can reverse anytime.   

[arimamib]

I think we have to wait, because even though the price movement is enough to provide an upward movement, we have not been able to determine that the current trend has begun to lead to the process of improvement. because price movements have not occurred specifically and are still in a slight surge in prices, it is necessary to wait again to get the right answer

[bobitza]

Bitcoin is always in the trend of reversing. Bitcoin is changing the way we use money every day. It's a decentralized peer-to-peer internet currency that makes mobile payments easy, very low transaction fees, protects your (anonymous) identity, and it works anywhere without bank hours. The current Bitcoin price is over 175,000 VND.

[Darooghe]

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.

I think, to understand if you are in an actual trend reversal you have to look at the structure, do some technical analysis, and find where resistance and support lines should be. In my own opinion, It's a bear market, then short the jumps. usually if it is an upward trend you will know a dip will still bounce back. It is all about price action. If you have a minor upward movement but in the bigger picture the market is still on a down trend then you shouldn't buy in. You just have to do your analysis first.

[MURONDI]

I hope 2020 will be a good start for bitcoin, expect the next few months to reach $ 20,000, according to my analysis if bitcoin is able to pass $ 8000 the price will continue to rise, but that is only an estimate because no one knows the future and no analysis is 100% accurate.

[henrybek3]

The bitcoin price can return from $ 5800. I'm not sure about that. But I see a weakness in the price of bitcoin. Maybe we're writing a new script for halving. A new downtrend and then a strong uptrend could come.

[blckhawk]

That could just be the manipulators in the market, or a trend reversal in short-term, and could still dump back. I still don't see any reason for it to go a continuous uptrend, and instead it would be short-lived. The halving is still almost 5 months away, and I expect the lows to be between February and March.

It could be the recent news about 21e800 hash, but it's just another hype scheme without guaranteed long-term effects, unless they really did what they speculated what deos is doing, which could be a groundbreaking, market driving factor if proven true.

[crwth]

Just like any other thing in this world, it's always going to be unpredictable. Some questions need to be answered so there could be an accurate answer.

• What timeframe are you going to base it from?
• Is it a reversal of this year or in general?

It will be different in each situation because if you look at the micros scenario, it could be considered as a change in trend. But on a macro-scale where we are looking at weeks, it's just another pattern forming and not yet confirming. So it would be different from a case-to-case basis.

[ChrisPop]

We had a strong weekly close indeed, but the volume is not there yet. I won't turn full on bullish until we don't pass the $9500 and if I want to be more aggresive until we don't have a break on the weekly timeframe of the $11500 mark. However we need to go step-by-step the next resistance being just next to us at ~$7800.

[Getmon]

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.

We cannot be certain whether this is really a complete reversal or another bear trap. We can only appreciate what is actually going on with the price lately. The rest we can only hope. Although I fervently hope that this December is going to sum up the entire 2019 with Bitcoin gaining back its 5-digit price.

[tsaroz]

It's a correction after the drop in price last week. The price movement could also be linked with a whales strategy to make a profit from fluctuating market. And we have news of large amount of bitcoin being accumulated, probably for an intentional bull run for sometime in future.

[piebeyb]

as I have said before from some of the threads that I visited, everyone might feel cheated if they go with the flow and panic, the price will not be below $ 5500, they will only go to a low price of around $ 6500 then play again above $ 7000 and it will keep going on repeatedly so that many people get bored and leave the market with defeat, so the way to avoid that is to trade in 2020 is a good time

[White Christmas]

It was very shocked moment because of the suddenly revive or pumping up of bitcoin from $6,500 to $7,500 very quick. It was a very good news for us bitcoin holders, the 7% pump of bitcoin was very awesome and I really don't know how it pumps up like this in a very bad situation of the market. We can see that the bitcoin is the only one who pumps up very high compared to the other coins in which are very stable in their current values.
Many crypto enthusiast or analyst are saying that this is because of the whales who want to manipulate the market in order to start a good impression and market graph to the crypto and because of this the bitcoin becomes uptrend again for the future of it.

[DevilSlayer]

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.

We cannot be certain whether this is really a complete reversal or another bear trap. We can only appreciate what is actually going on with the price lately. The rest we can only hope. Although I fervently hope that this December is going to sum up the entire 2019 with Bitcoin gaining back its 5-digit price.

If the price of bitcoin goes up with 7% but it doesn't mean the the market is now bullish. There are only 3 bullish chart pattern that I know. The first one is double bottom, then triple bottom and the last is inverted head and shoulder. If the chart of the bitcoin become one of these bullish chart pattern then we will see the successful of the market reversal of bitcoin.

[TitanGEL]

It was very shocked moment because of the suddenly revive or pumping up of bitcoin from $6,500 to $7,500 very quick. It was a very good news for us bitcoin holders, the 7% pump of bitcoin was very awesome and I really don't know how it pumps up like this in a very bad situation of the market. We can see that the bitcoin is the only one who pumps up very high compared to the other coins in which are very stable in their current values.
Many crypto enthusiast or analyst are saying that this is because of the whales who want to manipulate the market in order to start a good impression and market graph to the crypto and because of this the bitcoin becomes uptrend again for the future of it.

But for me 7% is not high enough for us to say that it is now end of bear market. Even if a crypto enthusiast or analyst says that the market will become bullish, we still do not believe to their claims because it is just their guess after all. Do not expect too much, 7% pump is too little and the it is the reality that the price of bitcoin is still in bearish market.

[Kemarit]

It was very shocked moment because of the suddenly revive or pumping up of bitcoin from $6,500 to $7,500 very quick. It was a very good news for us bitcoin holders, the 7% pump of bitcoin was very awesome and I really don't know how it pumps up like this in a very bad situation of the market. We can see that the bitcoin is the only one who pumps up very high compared to the other coins in which are very stable in their current values.
Many crypto enthusiast or analyst are saying that this is because of the whales who want to manipulate the market in order to start a good impression and market graph to the crypto and because of this the bitcoin becomes uptrend again for the future of it.

Why are you shocked? We've seen many times before that bitcoin can grow $1000 in just matter of minutes or hours. The question is, should this pump be sustainable or not? Otherwise, there could be manipulation behind and giving everyone false hope that we can get to $8000 though, just saying. For all we know this could be another bull trap in the horizon so we're on a tricky situation again.