What happens to BITCOIN next ?

[Shakreen]

hello guys...
I just learned about technical analysis of BITCOIN

Indikator:
1. FIBONACCI FAN (MANUAL)
2. FIBONACCI RETRACEMENT
3. TF 4H

Picture 1st


Picture 2nd


"Conclusion"

In the 1st picture, it can be seen that BTC still tends to stagnate in FIBO (0.50)
and trying to BREAKOUT and above,
BTC is now trying to get out of the FIBO line (0.5) and the next target if BTC succeeds BREAKOUT will go to FIBO (0.618)
can be seen for more clearly in the second picture.

In the second picture at least the BTC must BREAKOUT around the price of $ 74xx and the next target BREAKOUT is $ 79xx and go to fibo (0.618) in this phase if the BTC is stable there will be a PUMP and DUMP between $ 74xx to $ 79xx and the next BREAKOUT determination will be at the $ 76xx line and if it works BREAKOUT it will continue to $ 81xx (fibo 0.618) and you could say BTC starts showing TRENDBULL if this happens

BUT if BTC is currently unable to break through BREAKOUT it will go down at around $ 68xx and if this support is unable to hold it will continue down to SUPPORT $ 64xx like a few days ago and also from the second picture shows that the SUPPORT test is 2x and doesn't rule out the possibility will test for the 3x (HOPE THIS DOESN'T HAPPEN) and next to SUPPORT $ 44xx and if this condition occurs then GET READY we are going to TRENDBEAR year hopefully this does not happen because it will greatly affect the level of trust of the BTC TREADER itself..

RESIST 1 = $ 81xx
RESIST 2 = $ 93xx

SUPPORT 1 = $ 64xx
SUPPORT 2 = $44xx


That's what I can explain, hopefully can provide benefits and useful information
Remember this is just a picture of all returning again to our beliefs that each is not always true
But at least it can give us an idea of ​​where this BTC is going
thank you

NOTE "Always believe in yourself ...." ^^

[Youghoor]

It's good to use analysis by people to predict the next market value of bitcoin but there is always one thing people need to understand. This is that, the entire bitcoin market and ecosystem is 80% unpredictable and do not really follow the analysis made by experts. You just have to be open minded in order to understand some aspects of the bitcoin market...

[yohananaomi]

interesting thing from the analysis made, but there is no blame for making analysis and prediction at least there is a mixture that can be held and can be a reference. but it must be remembered also that bitcoin is very difficult to predict and many have done it but nothing can be right and make sure how bitcoin will move.
this is the advantage of bitcoin which is very difficult to predict, makes people really miss and save and take follow-up actions precisely and accurately and not panic when they want to sell or buy.
I strongly believe that bitcoin will still be a reference and target for everyone because it is very tempting and unique.

[kryptqnick]

Of course, it's nice to learn something new and try to apply it. But technical analysis is not something well-respected. It's just a strategy of making predictions, not a strategy of telling the future. And I believe one can do all sorts of things to come up with numbers and stuff, but at best it can lead to a probabilistic conclusion (like, for instance, it seems way less likely that tomorrow Bitcoin will be $10k than that it will be $7k. And if someone says it's gonna be $100k, it's even less likely. So maybe technical analysis can help to narrow down the options and make the figures more precise when it comes to specific probabilities, but I don't think it can do more than that. After all, if it was that easy to learn this and earn money, lots of people would do that and succeed.

[bittraffic]

Why only consider the SUPPORT 1 = $ 64xx, there are support line before it?

The Fibo certainly works differently to the forex platform fibo so I'm not sure how the trading fibo tool to be accurate at pointing out which supports are stronger.  But to me $73xx and $69xx are considered to be support already as we break it. That means the battle again will continue when prices dips that level.

[jhonjhon]

It's good to use analysis by people to predict the next market value of bitcoin but there is always one thing people need to understand. This is that, the entire bitcoin market and ecosystem is 80% unpredictable and do not really follow the analysis made by experts. You just have to be open minded in order to understand some aspects of the bitcoin market...

Predictions are not all bad at all some are useful things that you can use if you are having confusions with the market but it is called predictions for the reason that it can or may not happen at all so we have to be ready always of whatever outcome and don’t rely mainly on predictions of others because it might just disappoint you. The market trend in bitcoin is way unpredictable that even the smartest can’t predict it right most of the time so just do what you think is best for you and be always prepared of the worst.

[AliMan]

Why only consider the SUPPORT 1 = $ 64xx, there are support line before it?

The Fibo certainly works differently to the forex platform fibo so I'm not sure how the trading fibo tool to be accurate at pointing out which supports are stronger.  But to me $73xx and $69xx are considered to be support already as we break it. That means the battle again will continue when prices dips that level.

In case price dips at that certain level, that's also a bigger opportunities for investors who still planned to venture with bitcoin. Tools like fibo always have the capability to do the basic trading as well, first of all as you take control of that decisions made; our personal principles will be the first priority. When we seek for other options, just take the opportunity of your alternative resources which you can use at any random state.

[buyinbtc]

Why only consider the SUPPORT 1 = $ 64xx, there are support line before it?

The Fibo certainly works differently to the forex platform fibo so I'm not sure how the trading fibo tool to be accurate at pointing out which supports are stronger.  But to me $73xx and $69xx are considered to be support already as we break it. That means the battle again will continue when prices dips that level.

From the fact that the price has been rejected from moving under around 7.1k I would say we have quite strong support at around 7k to 7.2k region and massive resistance at 7.5k which we cannot break decisively for quite a while now. Besides that I'm pretty sure you meant $73xx resistance not support as the price constantly gets rejected from it.
If we manage to break the 7.3k resistance and then the overwhelming resistance at 7.8k I would take that as a sign of confirmation that we're in a bull market and long the corn.

[cutesgirl]

I don't care about how chart and analyze of bitcoin, but I am waiting what will happen with bitcoin during bitcoin halving coming soon, when bitcoin keep with lower price maybe loss hope with bitcoin have higher price, if bitcoin halving four months later can give effect to make bitcoin keep with higher price I will re investing with bitcoin and altcoin again.

[Wexnident]

Pretty nice analysis and prediction there. I mean, most if not all of us hope that BTC would break out in the year 2020, with how the halving is in place and all, but there's always the possibility that it doesn't. But in the end, I'd doubt most would trust or 100% believe predictions and analysis since they are missing out on few bits of information e.g. this only discusses about BTC price chart throughout the entire map, but doesn't take into account the possible effects of the halving. Still, could be used as a nice reference.

[yulionoo]

good analysis and calculation I appreciate the op effort. but we know that bitcoin has high fluctuations that are very difficult to predict even if we use technical analysis. because sometimes the price of bitcoin can be manipulated by the pope and also influenced by FUD. so I don't think anyone knows for sure what happens to the next bitcoin?
we can only predict and that can be true or false.

[Juggy777]

It's good to use analysis by people to predict the next market value of bitcoin but there is always one thing people need to understand. This is that, the entire bitcoin market and ecosystem is 80% unpredictable and do not really follow the analysis made by experts. You just have to be open minded in order to understand some aspects of the bitcoin market...

@Youghoor that’s the problem these analysts never take bitcoins volatile nature into their calculations hence they never get it correct. Another problem with these analysts is that they often rely on the past bitcoin prices as a base for their predictions, and they fail to account for the possibility of any positive or negative news which may change the course of bitcoin prices. It’s pertinent to note that many here including me don’t purchase or sell based on analysts predictions, and I would advise you’ll also not to rely on thier predictions.

[hugeblack]

Good analysis, I agree with most of it, but I disagree with you on two points. The quotation is below:

BUT if BTC is currently unable to break through BREAKOUT it will go down at around $ 68xx and if this support is unable to hold it will continue down to SUPPORT $ 64xx like a few days ago and also from the second picture shows

SUPPORT 1 = $ 64xx
SUPPORT 2 = $44xx

Resistance levels at $ 6,400 require something to happen that pushes the price down for that level, something that has not been proven yet, so it is not likely "in the current circumstances" to see a decline of that level.
If the decline is confirmed below 6,400, we will not stop at $ 5,000, as there is no historical resistance at $ 4,000, so the levels of $ 3,000 are more likely.

So SUPPORT 1 & SUPPORT 2 are just temporary support levels.

[piebeyb]

RESIST 1 = $ 81xx
RESIST 2 = $ 93xx

SUPPORT 1 = $ 64xx
SUPPORT 2 = $44xx

as a trader I have not tried how to use the Fibonacci indicator, usually I only use the RSI and MACD indicators no more, but as a trader I understand because not all have the same way of thinking and always have a different point of view in analyzing, I see buying support in $ 5500 isn't sure it's at $ 44xx, but it's nice to see your Fibonacci

[panganib999]

Nice analysis. Though the support levels at 6.4k is a bit low to start off with don't you think? Shouldn't it start off with 6.8k or so? Also, BTC has broken through 7.3k multiple times but it has failed to breakthrough the 7.5k barrier, and has only done so a few times this month. Sadly, it can't force it's way through for these past few weeks. If we were to look at it like this though, the fact that BTC broke down to 6.8k could be the said factor that raised the price of BTC lately to 7.8k, since it failed to break through past 6.8k anymore. Anw, nice analysis bro.

[BrewMaster]

the problem with TA is that it is purely theoretical and in most of the times it is far from the reality. for example in this case the number you have come up with as support and resistances are theoretically correct but realistically wrong.
what happens is that right now there is no reason for any more drops. there is a very strong buy support and also previous attempts at manipulation dumps failed hard as price bounced back up fast.
as for resistance, all we need is a tiny momentum to see mid 2018 be repeated and in a blink of an eye price reaches something like $13k again with a nice FOMO.

[Theb]

the problem with TA is that it is purely theoretical and in most of the times it is far from the reality. for example in this case the number you have come up with as support and resistances are theoretically correct but realistically wrong.

Even if it's purely theoretical it has been accepted to be more tgan edycated guessing and is a thousand times more better than just gut-feeling your trade. TA has been used for years in both trading as well as investing even before the crypto market existed if it didn't workout for both the stock market and the forex TA would simply end it's existence for just merely being a theory. TA is more just the study of candles and charts of an asset because like I said in the past TA is actually more about the study of the traders' behaviour and how they will react to the market based on that for example rising volume and price could indicate an increased in demand while a decrease in price as well as volume could inducate a decreased in demand. IMO TA is more than shooting blanks in tge market as you really have a live ammunition helping you.

[Shakreen]

It's good to use analysis by people to predict the next market value of bitcoin but there is always one thing people need to understand. This is that, the entire bitcoin market and ecosystem is 80% unpredictable and do not really follow the analysis made by experts. You just have to be open minded in order to understand some aspects of the bitcoin market...

I agree with you ... not as long as technical analysts are able to predict what the market is considering the bitcoin market is always fluctuating and changing always there are other aspects that can hitchhike and change everything ... but I'm just here to give an idea about BITCOIN using the TA that I learned ......
Thanks for your advice

interesting thing from the analysis made, but there is no blame for making analysis and prediction at least there is a mixture that can be held and can be a reference. but it must be remembered also that bitcoin is very difficult to predict and many have done it but nothing can be right and make sure how bitcoin will move.
~snip~

Thanks for your constructive advice .... for honest reference i don't have other than i learned from google in determining support and resist and also learned a lot about indicators in TA, i also learned from twitter some people like johnMcAfee, Tom lee and my others I just learned and am still new to TA but I will try my best .....

Of course, it's nice to learn something new and try to apply it. But technical analysis is not something well-respected. It's just a strategy of making predictions, not a strategy of telling the future. And I believe one can do all sorts of things to come up with numbers and stuff, but at best it can lead to a probabilistic conclusion ~snip~

I agree with you TA analysts are only to help us better understand the market movement of BITCOIN and certainly not to know the future in the market with certainty...
This is only a precautionary measure what will happen but it all comes back to each of us trusting or not

Why only consider the SUPPORT 1 = $ 64xx, there are support line before it?
The Fibo certainly works differently to the forex platform fibo so I'm not sure how the trading fibo tool to be accurate at pointing out which supports are stronger.  But to me $73xx and $69xx are considered to be support already as we break it. That means the battle again will continue when prices dips that level.

In case price dips at that certain level, that's also a bigger opportunities for investors who still planned to venture with bitcoin. Tools like fibo always have the capability to do the basic trading as well, first of all as you take control of that decisions made; our personal principles will be the first priority. When we seek for other options, just take the opportunity of your alternative resources which you can use at any random state.

Thanks you for @AliMan for helping me explain, I just want to add a little to @bittraffic, of course the possibilities are always there but in my opinion each time frame also determines the support and resistance points of a TA could be and did not rule out the possible support points on TF 1H is different from TF in 4H, D1, D4 ... etc BUT nothing is certain in this case thinking TA only helps us to take action

Good analysis, I agree with most of it, but I disagree with you on two points. The quotation is below:

~snip~

Resistance levels at $ 6,400 require something to happen that pushes the price down for that level, something that has not been proven yet, so it is not likely "in the current circumstances" to see a decline of that level.
If the decline is confirmed below 6,400, we will not stop at $ 5,000, as there is no historical resistance at $ 4,000, so the levels of $ 3,000 are more likely.

So SUPPORT 1 & SUPPORT 2 are just temporary support levels.

I agree with your opinion that in TA we always have to consider everything temporarily without exception because in the bitcoin market price movements are always fast and fluctuating and cannot be predicted precisely so let's hope for the best for bitcoin prices

~snip~

as a trader I have not tried how to use the Fibonacci indicator, usually I only use the RSI and MACD indicators no more, but as a trader I understand because not all have the same way of thinking and always have a different point of view in analyzing, I see buying support in $ 5500 isn't sure it's at $ 44xx, but it's nice to see your Fibonacci

I hope that with this tread, it can open up your wider view of TA and its indicators ...
There is still so much we have to learn and let's get dizzy together wkwkwkkw   

[Rasa nanas]

first I will appreciate you, because in my opinion this is an extraordinary analysis for a beginner. honestly I am not too interested in this problem, there have been many people who have made this kind of analysis but only some of them have proven to be true. I am very sure if bitcoin has a very bright future, that is the reason I remain in this forum.

[el kaka22]

For someone who just recently learned about technical analysis I should say you did a good job, those are very close numbers (or exact numbers could be as well) for what the support and resistance is laid right now which is probably the most important aspects of crypto because those are the numbers we can go up or down to easily yet hard to break when we reach and also easy if we could break those numbers as well which makes the decisions of buying or selling around those numbers very easily.

For example, if 8100ish prices are resistance, then buying at 8200 is smart, you could buy from 8200 and will be able to profit until we fail or succeed until 9300, if we fail you can sell, if we go beyond that you can keep it until next till we can't break any resistance, same method for selling and buying at support levels and if we go below them.