BTC Finally Broken Out From Daily Resistance Level

[Lasky366]

#BTC Finally Broken Out From Daily Resistance Level.We Can Expect A Move Towards 7700$ Before Any Retrace Move..If Everything Work Like Our Chart Then Something Special Waiting For Us.✅

#BTC One Thing I Need To Clear To You Guys.Daily Candle Still Didn’t Closed Yet..If It Close Above That Resistance Then It Will Be A Clear Breakout We Have Still 12 Hours Left For Daily Close.. So Don't Rush It.It Can Be A Fakeout Also.If You Are A Swinger Then Wait For Clear Breakout✅

Thanks

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[mahilchii]

It's not new however I am pretty confident about the halving now and I believe even this time there will be a descent pump after good changes in the chart, I think the market will go up slowly.

The resistance level shows how it is surpassing each and every barrier, if it breaks 8k then the price will go upto 12k till halving...

[hugeblack]

We cannot consider this a breach of the resistance levels given that we are back below the $ 10,000 levels and the price may be a bounce to an upcoming correction.
We are still in the stage of uncertainty and therefore unless things return to their nature all reports and statistical estimates will not work well in crises or foggy events.
Don't let the green light change you by investing. We were at $ 4,000 a few days ago.

[tokeweed]

#BTC Finally Broken Out From Daily Resistance Level.We Can Expect A Move Towards 7700$ Before Any Retrace Move..If Everything Work Like Our Chart Then Something Special Waiting For Us.✅

#BTC One Thing I Need To Clear To You Guys.Daily Candle Still Didn’t Closed Yet..If It Close Above That Resistance Then It Will Be A Clear Breakout We Have Still 12 Hours Left For Daily Close.. So Don't Rush It.It Can Be A Fakeout Also.If You Are A Swinger Then Wait For Clear Breakout✅[/size]

Thanks

Sure.  But it still feels like it's just another DCB.  And right now everybody's prolly still in denial about it...  I guess we'll just have to see during the next couple of weeks.

[Viscore]

Thanks for that wonderful TA of yours, I believe this is something, of course it could be a fake out but the way it's going I think this is already the result of the upcoming halving and bitcoin will just continue to rise from where it left before, we have to consider also that there are potential investors out there who are looking for good market and since crypto is surviving and even looking better now, I think it will attract them.

Looking forward for $8000, hopefully a breakout will happen.

[tomahawk9]

That completely random curved line at the end sure looks bullish, I mean, it is pointing upward 

On a serious note, I find it interesting that the BTC price started a nonstop upward movement last Sunday when the Asian markets opened at 9am (not exactly a massive surge, but it looks like it was the trigger). BTC is up 10% (6700 to 7400) since that surge began on the weekend, that's around the same percentage as the US stock market (7.7% yesterday, 3% today).

Markets are in the green. If this continues in the cryptosphere, I could see some btc FOMO buying from the weak hands who sold a few weeks ago, would love to see if we can consolidate in the high 7k's or more before the correction (:

[milewilda]

We cannot consider this a breach of the resistance levels given that we are back below the $ 10,000 levels and the price may be a bounce to an upcoming correction.
We are still in the stage of uncertainty and therefore unless things return to their nature all reports and statistical estimates will not work well in crises or foggy events.
Don't let the green light change you by investing. We were at $ 4,000 a few days ago.

Stage of uncertainty can be experience most of the time specially into this kind of market thats why i dont really draw up conclusions and doesnt make any moves when it comes to break out resistance or support
because anytime it can turn around and would result into negative.This might not affect for long term or hodlers though but for active/short trader will surely experience this kind of decision making events most of the time.
Its just good to see that bitcoins price is trying to reach up our previous position but same as you said where it can dive down back to those levels on least expected.

[TheGreatPython]

Just daily resistance level? When the time frame is small, we cannot speculate for longer duration which means I cannot make any trading decisions based on what you have observed. I just look for any analyst who find out like bitcoin is testing again 100 days moving average or 200 days moving average kind of long time frame based things.

Like intraday traders kind of swing traders, daily resistance breaching could be a signal. I guess we may keep seeing all major resistance levels may get broken in coming weeks as bitcoin markets may enter into FOMO zones at anytime on eye of halving.

Next time please bring us some bigger time frame based analysis .

[exstasie]

Sure.  But it still feels like it's just another DCB.  And right now everybody's prolly still in denial about it...  I guess we'll just have to see during the next couple of weeks.

It's probably a DCB in the sense that there is significant downside from here. The market could easily drop 30% ($5K) and it wouldn't surprise me in the slightest.

I do believe we've already seen the bottom though. $3,000s are off the table. Bears calling for lower lows are going to get trapped.

[ScamViruS]

Yet I'm not confident. You may have noticed a breakout in your analysis. But with the sort term chart, it is difficult to predict the next market move. I'm looking for something that will give me the confidence about next upwards move. The market has suddenly pumped up. So it's hard to guess anything right now. The economy of the world is getting worse day by day. Suddenly a bad news could collapse the Bitcoin market again.

[Yamifoud]

It all the way in the full recovery (it hope so). The chart shows an overwhelming market movement but still, we can't sure about the incoming.
$7.7k is a long way back to $10k, $14k where we leave early this year but if this trend will continue we might say that halving pushing the market to move. But I believe that some of us here still have their doubts since the pandemic isn't over yet.  

Anyway, whatever it happens in the coming days, I'm still not losing my hopes that we end up this quarter at a good price and may halving could help.

[adaseb]

The issue is where its headed, remember that nasty bitcoin crash that we had last month? Well most of the supply cluster is in the $8K area and this will be a tough price to close above, if we get a close above then we can easily head to $10K.

The 8K is significant is because its where some large shorts were opened, and its where most traders are looking to re-enter their short position, it has a great risk/reward. And also if you look at the chart, it looks like a massive bear flag at the moment.

Been wrong before but I think we will top at $8K and then retest the $7K area before heading higher or lower.

[pooya87]

this still is not a big deal because the important resistances are not yet broken. price is still below $8k (the highest reached is a little short of $7500) and even though the rise is a good sign but until that resistance is broken i wouldn't call this the end of the downtrend. there is still a lot of fear in the market that another manipulation could hit. but if $8k breaks then it would be worthy of considering as price would be getting closer to the real value.

[exstasie]

The issue is where its headed, remember that nasty bitcoin crash that we had last month? Well most of the supply cluster is in the $8K area and this will be a tough price to close above, if we get a close above then we can easily head to $10K.

The 8K is significant is because its where some large shorts were opened, and its where most traders are looking to re-enter their short position, it has a great risk/reward. And also if you look at the chart, it looks like a massive bear flag at the moment.

How do you know large shorts opened there, or that they weren't closed already? Looking at Bitfinex data, it looks like shorts were mostly opened below $7,500 and especially below $6K.

I agree about resistance in the low $8,000s. Some big daily pivots there and the 200-day MA as well.

Bitmex funding is now positive, futures spreads are positive, and ~4K BTC in longs on Bitfinex were added in the past few days. Greed is beginning to set in. I might aim higher if not for that. Bulls are getting too confident for my liking.

[el kaka22]

Well, there is the exchanges where you can check when and what happens so you can actually see whats going on and there we have seen the 8k range to be clustered with a lot of shorts and longs actually, there was a lot of them.

However shorts do not decide the price actually, even longs do not decide on the price, its the community movements as a whole that decides it. Last month we had a huge drop but to be perfectly candid that happened everywhere else as well, so it wasn't really a crypto thing, it wasn't a bitcoin thing neither, it was purely economical in the whole world because of corona, which means it shouldn't be a problem since we could potentially recover from it when corona becomes less harmful and now that some time passed we are seeing that recovery as well.

[tokeweed]

Sure.  But it still feels like it's just another DCB.  And right now everybody's prolly still in denial about it...  I guess we'll just have to see during the next couple of weeks.

It's probably a DCB in the sense that there is significant downside from here. The market could easily drop 30% ($5K) and it wouldn't surprise me in the slightest.

I do believe we've already seen the bottom though. $3,000s are off the table. Bears calling for lower lows are going to get trapped.

After seeing (the impossible) BTC go from 5 bucks to 20k USD..?  I won't count any possibility as 'off the table'.  Literally anything can happen imo.

[YuginKadoya]

I don't want to have a high hopes regarding the end of April but the resistance is nothing more than a slight volatility movement Bitcoin always is doing that in my opinion and will keep on doing it until we can see the real high trend and regarding this halving is just around the corner lets just wait prior to what may happen in that said event.

[exstasie]

It's probably a DCB in the sense that there is significant downside from here. The market could easily drop 30% ($5K) and it wouldn't surprise me in the slightest.

I do believe we've already seen the bottom though. $3,000s are off the table. Bears calling for lower lows are going to get trapped.

After seeing (the impossible) BTC go from 5 bucks to 20k USD..?  I won't count any possibility as 'off the table'.  Literally anything can happen imo.

It's just an opinion. I never said I was a omniscient or something. BTC can always go to $0.

Based on historical high volume V-bottoms like April 2013 and January 2015, the likelihood we already saw the bottom is very high. BTC likes to reach extreme lows during liquidity events, followed by a DCB to higher lows.

The only thing that gives me pause is the possibility that global markets experience another liquidity crisis like March 12th. I would keep an eye on crude oil and US stock indices. If extreme downside volatility hits again, all bets are off. If this crisis morphs into another 2008, then it could fundamentally change BTC's course. I still think that's unlikely though.

[michellee]

Bitcoin can increase to a higher price if there is a massive buying in the market, and I think that will happen soon. This day, we see the red candle appears and it still trying to go up, and if the support can hold the price not to go down, we will see another little bull. But we still guess for what will happen on this day, and we are in the weekend. Hopefully, the price can increase and reach another higher price.

[thecodebear]

I'm feeling like this is about to top out for the short term. Seems to be having trouble getting past 7400, I think by this weekend at latest it either drops from here back to high 6000s or it pumps to high 7000s, gets rejected, and then dumps to high 6000s. I've got about 50% of my trade money waiting to get in lower and about 50% already in and hoping for a little more of a pump before the drop. If it does drop soon I think it will be short lived and by end of next week it'll be back to current levels and I'm pretty dang confident Bitcoin will mount $8000 this month. I don't think it'll push down past 6500 at the lowest.