Bitcoin Price Trend Reversal in Progress?

[yazher]

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.

If you look at the history of it, it makes sense not to get carried away on riding the price hike as we can see today. it may just increase slightly and will fall shortly after that. we better not to judge the market base on its flow right now. we need to see its past history to prevent unnecessary losses.  As far as I know, this increase will only take a few days and will stop again.

[Asmonist]

Anytime could be an opportunity to change the trend reversal. Its really unpredictable and anything could happen. We still hope for the best and hopefully before this year end a better price will rise up. Well, as long as we have bitcoin earnings and invested or traded enough its really better than having nothing at all.

[darkangel11]

Be objective boys and girls!

Bitcoin is still stuck between 2 falling lines and making lower lows and lower highs. We'd have to break above 8k to officially get out of this trend and it would have to be a candle not a wick above the 8k.

The good part is that the low of 3,5k is in and it's going to stay this way. If we dip down to 6k or even 5k it will be a great opportunity to buy more.

[piebeyb]

Be objective boys and girls!

Bitcoin is still stuck between 2 falling lines and making lower lows and lower highs. We'd have to break above 8k to officially get out of this trend and it would have to be a candle not a wick above the 8k.

The good part is that the low of 3,5k is in and it's going to stay this way. If we dip down to 6k or even 5k it will be a great opportunity to buy more.

I think it will be difficult if prices fall at 3.5k, because strong buying support is at $ 5500, so I can't guarantee prices will be below that, right now I think the prices are still fairly stable and the whales are still playing behind the charts, no more they are still happy to play with small fish into the trap, I would be more happy if we see it again at the beginning of the year in just a matter of days to welcome 2020 later 

[bitvalak]

Actually it has been seen since December 17 because there is a double top pattern that exactly happened on that date.
As I learned, the double top pattern is a reversal pattern that has a high probability of up to 80%. So I am not surprised if current prices have shown a positive upward trend.

[Boov]

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 can really dont know what will happen next, but the thing is, I just hope that bitcoin will not go back to $5000-$6000 in its price, because my funds will decrease and I will be lose some bitcoin that I have been saving this year, wishing that it could get higher than that, we cant really read what the bitcoin price will  be, most of the time it is affected by the whales.

[btcmurat]

The price of bitcoin is still unstable. Probably going up with the expectation of New Year. The price of bitcoin can see a new peak in 2020. However, it is necessary to be cautious. Solid projects like Ethereum are still at very bad prices.

[BrewMaster]

it is not possible to say until bitcoin price breaks a major price resistance such as the one at $8k otherwise price going up and down anywhere below $8k is not indication of that much movement.

with that said, i don't think the market is ready for the big rise yet. there may still remain some more time for this accumulation to end.

[youngmoss]

Very good post, quite useful topic, thanks for sharing more and more details about the topic

[7788bitcoin]

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 like seeing the market going up and i am not sure what is the magic behind it, what ever it may be the speculation was accurate as the market is moving higher and even today the market has risen to $7600 and hopefully we might move higher but i am yet to know the reason for the trend reversal when there is two days before Christmas, i was expecting this reversal after the holidays but bitcoin market always surprises us.

[lionheart78]

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.

Indeed this price movement of Bitcoin is nothing special.  It is just ordinary for Bitcoin to go up and down $1k+ in just one day.  With that bull trap, I would say that is always possible, the same thing bear trap happens.  Honestly, it is quite hard to predict which way will Bitcoin prices go because its market (Bitcoin) is very unpredictable. 

[joshy23]

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 like seeing the market going up and i am not sure what is the magic behind it, what ever it may be the speculation was accurate as the market is moving higher and even today the market has risen to $7600 and hopefully we might move higher but i am yet to know the reason for the trend reversal when there is two days before Christmas, i was expecting this reversal after the holidays but bitcoin market always surprises us.

Bitcoin always bring surprises the more we expect things to happen the more it reverse the directions. Now we are again in a good rising momentum
not sure if how far this rise will go but being optimistic it's best to believe that the market will proceed and try to bounce up much higher than $8K.
looking forward to see more positive impact and good reversal to happen.

[Hamphser]

The price of bitcoin is still unstable. Probably going up with the expectation of New Year. The price of bitcoin can see a new peak in 2020. However, it is necessary to be cautious. Solid projects like Ethereum are still at very bad prices.

I can tell it is a little unstable because the price keep changing giving us a hard time to cope up which way it should go. Maybe what just happened last week was a slight dump then bouncing back to its natural state again. We might still need more time to consider which way bitcoin should go.

[Aikidoka]

Bikinis price increase probably due to the high buy orders that people made when the price were on the 6000$ level, so this pump of the price due the high number of buy orders I guess. I'm sure that bitcoin's price will increase even more in the next couple of weeks if people will still buy more bitcoin and it will be more pump of the prices really soon.

[DreamStage]

It has always been like this before. Some days you get these goose bumps of price rising and see it going way upper than before.
After some time it will drop once again...

It is bitcoin's history and you shouldn't be worried about. It happens cause most of us (investors) know that to achieve profit we need to buy low, sell high.

That's the most perfect reasons on why such price fluctuations occur in such small time windows.
So yeah on the next week you can hope for another price drop or who knows stay at same price margin.

[bitzizzix]

So far the movement of bitcoin is still in normal condition, and anything can happen because bitcoin can reverse the situation unexpectedly.
and a slight increase in bitcoin will now be a good thing for those who want to celebrate Christmas and holidays, but that doesn't mean they have to use it all because the right choice is now still in a position to hold it and use it as needed because there is a possibility that in a few months bitcoin will provide a good price for all of us.

[Artemis3]

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

But as time passes, big traders have less and less influence. Look at it in percentage, and you will clearly notice. The more coins that get spread, the less they can do.

I believe that Bitcoin price fluctuation is destined to shrink overtime. It can never go flat, because the coin isn't artificially pegged to anything by no one, and it can't go down because its deflationary, with limited production now in its final stages slowing down into a crawl. Most bitcoins that will ever be have already been minted. The last couple million will take a century to complete.

Traders need the fluctuation to make money, so of course that pressure will always be there. This is a sign of freedom, there is nothing more dangerous than a pegged "stable" coin.

Do note that moving from 100 to 1000 would today be the same as moving from 7000 to 70000. I hope you see the fluctuations today are much more smaller, even with that 20k spike of 2017. Time is in favor, and this is called maturity.

[adeandro]

The price will always rise and tends to rise. Every fall will be followed by a bounce.

[Wysi]

We need to wait for couple of more weeks before making any decision as this looks temporary to me as we have witnessed similar spike in the value of bitcoin usually followed by a dump and I think it's a similar short term pump. I would suggest to monitor the market for at least 2 more weeks before cashing out or buying more.

[DaveWave]

Since it will become even harder to estimate the price of bitcoin in the coming days, I will continue to hold. I'd seen many people that are promoting their charts and are giving advice but in a bad market they are always silent. So I won't be listening to them anymore.