BTC Price might drop now?!

[Savemore]

How many indicators are you using? it is really hard to understand what the chart is. Simplicity is the key to mastery in trading. In my own analysis, the price is currently consolidating with a bullish bias between $9150-$9960 per each. If there will be a breakdown then considered that the price may drop but the good thing is there is still no breakout and breakdown that is happening. The price is currently trailing at EMA 20 and it is good for me as long as the price is above EMA.

[maydna]

Bitcoin price is already down before, and now, the price is going to increase again as we see that bitcoin price can break $9700 level, so I hope that the price will become strong to break another higher price. But this moment, it needs more analysis to predict where bitcoin price will move because we still don't know what will happen with bitcoin price. There are many possibilities for bitcoin price to still increase to the high price, but the price will also have the opportunity to down to the lower price, so be careful to buy and sell bitcoin. Perhaps, the next target for bitcoin price to reach is at $10k.

[ScamViruS]

1) First, we have the higher low which we mentioned in previous update
2) Prices are now trading below EMA10 and we have decreasing trading volume , going lower and lower.
3) A recent rejection of prices while they tried to move and close above EMA10.
4) We are seeing long wicks pointing down.

Bitcoin has given a good recovery run before halving. Now there is a possibility of a correction, this kind of correction happens before the next run starts. Another correction means another chance to buy more bitcoin. If you look at the trading volume of Bitcoin, you can see that the volume has decreased a lot. But you also have to see that now the weekend is going on, and the volume of bitcoin decreases every weekend. So let's wait and see how the market reacts on Monday.

[sunsilk]

It could but as we see, it's going the other way. I'm also reading some TAs that's saying the same thing but as usual, bitcoin is hard to be read so for holders like me I don't usually look to the short term. There might be an incoming dip within a few weeks but this was expected right after immediate the halving but it seems nothing has happened except it's holding on to $9300. I'm firmly holding and visioning the long term.

I have the same feeling here. I think that in the next few weeks we are going to be seeing the effects of the self-fulfilling prophecies as the market is expecting that there can be some dips post-halving. On the same vein, people are expecting that towards 2021, Bitcoin can be accelerating greatly. Bitcoin remains a very elusive type of beast, and we don't really know what can be. So we might as well sit back, relax and just enjoy the ride.

Yes, for 2021 a lot of speculations come out which are full of hopes for that year and I'm also going on for that year. Whichever goes first, this year or 2021 or the latter which will show bitcoin's bullish side again. Most of the people look for the higher which bitcoin can than the last bull run.

It's all that we can do while waiting for that day. Enjoy the roller coaster, ups, and downs, bulls or bears, anything for the gain, and for the loss, it's all that we got. Buy, if goes down and that's the counteraction that you must quickly do and everyone knows it.

[beerlover]

When there is a decrease in the volume of bitcoin, know that there is also a chance that bitcoin could potentially go up as well. Because if there is less volume that means there is usually less liquidity as well, so what you can do with X amount of bitcoin/dollars is much harsher when there is lower volume compared to having a huge volume where X means nothing to the market.

In this case, if the volume is low, and someone puts millions of dollars worth of purchase on bitcoin right now, that means the price could increase very fast without anyone touching it since there isn't enough volume to stop it. This doesn't mean it will happen, the drop could still happen, I just wanted to point out that there is %50 chance that it could be towards downwards or it could be upwards.

[Ridwan Fauzi]

Currently I got confused, in one side I'm the bull market will come because the halving event will give a big thing for bitcoin pricr movement.

But in the other side, I see a bitcoin's graphic hash rate and it is down almost everyday. I just preassumed that the miner is no longer get a profit from it unless bitcoin is high again.

[LUCKMCFLY]

Sometimes the volume is usually interpreted as small bullish traps, the price may go backwards to generate a pull back, if this happens, it is likely that they are testing the price levels already between $ 9.3k and $ 10.5K, perhaps the offer will start there to decrease due to Bitcoin's Halving effect being in Hodl mode.

[ultrloa]

Currently I got confused, in one side I'm the bull market will come because the halving event will give a big thing for bitcoin pricr movement.

Its expected matter when halving cames but by looking at the events right now maybe we can see it struggling since we are in not good shape on economical aspects, It's sad to see the halving occurred when there's a pandemic but I'm still looking forward on it since many still think good even if there's a threat surrounds on it.

But in the other side, I see a bitcoin's graphic hash rate and it is down almost everyday. I just preassumed that the miner is no longer get a profit from it unless bitcoin is high again.

Yeah that is the side effect of it and I wonder if transaction speed will decreased since miners are slowly pulling out their rigs since their business is not profitable anymore.

[Yamifoud]

I was expecting that dumps to follow as Bitcoin price moves high in the past days. We can't ignore this thing but consider this as a normal event that comes in crypto. We are just in a few days after halving and quite good to see the market slowly getting high but it didn't give me the confidence to think about Bullrun at this early.

[hahay]

I was expecting that dumps to follow as Bitcoin price moves high in the past days. We can't ignore this thing but consider this as a normal event that comes in crypto. We are just in a few days after halving and quite good to see the market slowly getting high but it didn't give me the confidence to think about Bullrun at this early.

Bull run faster than expected it seems impossible even in difficult situations like now of course the price is weakening is normal and indeed, things like this are normal because even these fluctuations will continue to occur in the next few days that will not show resistance higher. So I think even if the drop happens, it still won't touch the bottom because this is a normal cycle and there's nothing to worry about or something else.

[chaser15]

Instead of analyzation, I found your chart as confusing. It will really affect your future decision.

There is no way we can see what will happen next. The current indicators only tell us on what price level that the buying and selling hits their strong point.

If you are a short-term trader, it's really risky to just give you advice coming from us.

[STT]

Honestly the ceiling at 10k looks too obvious and the resistance repeated this many times, at the very least I think we must get a fake out upwards before then dropping.  So we can go as high as 11k especially on a nice pin upwards before forming downwards on a weekly close.  Thats what I expect really, I'm pretty determined not to draw in 10k itself as resistance but I do have a trendline we've hit previously.



50 and 200 day averages are nearly in the same place below, quite probable we can return there before month end even.   Also trend matches previous highs, if we repeated that action we'd near to 11k on this occassion I guess.  If we were to move down without breaking above the previous high then it should be taken as more bearish then otherwise I think is fair.

[TitanGEL]

Instead of analyzation, I found your chart as confusing. It will really affect your future decision.

There is no way we can see what will happen next. The current indicators only tell us on what price level that the buying and selling hits their strong point.

If you are a short-term trader, it's really risky to just give you advice coming from us.

His system is so confusing, there are a lot of indicators that he is currently using that can gave him a misleading confirmation. The current price of the bitcoin is now near in its current resistance and if there will be not enough volume expect a bounce that will create another swing low. We can do short selling as long as the price will resists in its current resistance. But if the price will go above it then it is good to do long position.

[ajaymukund]

Based on the psychology of manipulators, I do not think that the price of BTC will decrease now. Currently the Short ratio is higher than Long at a lot of margin exchange and this will cause the whale to manipulate again. they will fake the pump or push the price of BTC to $ 10k5 or $ 10k8 to lure the prey. when the crowds thought it was uptrend, it was time for the whale to sell off bitcoin and crash the market again. so the short-term trend is still up.

[onrise]

Based on the psychology of manipulators, I do not think that the price of BTC will decrease now. Currently the Short ratio is higher than Long at a lot of margin exchange and this will cause the whale to manipulate again. they will fake the pump or push the price of BTC to $ 10k5 or $ 10k8 to lure the prey. when the crowds thought it was uptrend, it was time for the whale to sell off bitcoin and crash the market again. so the short-term trend is still up.

One thing what is happening now is that it will test 10k levels and from past few days it is hovering in the range of 9500 - 9800$ mark and might be waiting to break that 10k levels or may drop a bit it seems. If it breaks 10k levels psychology will change for many investors and I see some of the new investors may also joining this bandwagon.

[coin-investor]

One thing what is happening now is that it will test 10k levels and from past few days it is hovering in the range of 9500 - 9800$ mark and might be waiting to break that 10k levels or may drop a bit it seems. If it breaks 10k levels psychology will change for many investors and I see some of the new investors may also joining this bandwagon.

I also see that $10k level is a good indication for new investors to join the market, there are new investors who are in FOMO and just looking for a sign or indication before coming in the market, the pandemic will not stop these investors, they just want some sign and the $10k level is a good sign for them

[ene1980]

so I hope this time around people will LONG BITCOIN.

The logical sense right now is to long bitcoin, but still we see the market going down every now and then and there are reports that big time financial investors are investing in bitcoin whenever the price goes down for the past two months and if traders are treating bitcoin as a short term trading opportunity then they will miss out when the rally begins, we have seen that in the past and we will hear again that some missed out on the rally.

If the price goes down, i will be glad to see that as an opportunity than worrying as i am not planning to sell for the next one year.

[Botnake]

so I hope this time around people will LONG BITCOIN.

The logical sense right now is to long bitcoin, but still we see the market going down every now and then and there are reports that big time financial investors are investing in bitcoin whenever the price goes down for the past two months and if traders are treating bitcoin as a short term trading opportunity then they will miss out when the rally begins, we have seen that in the past and we will hear again that some missed out on the rally.

Traders usually do short term trading, however, I also believe that they see the potential of bitcoin in the long run, so I guess they will not miss out as for sure they have some bitcoin investment for long term, and let's say they are just doing short trade I can still say that they will be profitable even if bitcoin will rise, as long as bitcoin will remain highly volatile.

If the price goes down, i will be glad to see that as an opportunity than worrying as i am not planning to sell for the next one year.

Same here, I have already convince myself after witnessing a lot of market volatility in the past that bitcoin will survive, therefore it it will dump, it will surely bounce back strong.

[kesmex]

the price has dropped to $ 8,800, I don't know yet if this will drop again to $ 8500,
if it really drops to $ 8500 it seems good to buy at that price

[TravelMug]

the price has dropped to $ 8,800, I don't know yet if this will drop again to $ 8500,
if it really drops to $ 8500 it seems good to buy at that price

If I'm not mistaken, it drop as low as $8600, but we have recovered, around the $8900 levels today.
And the volume is around $30 million, so it looks like it has been weakening as I observed that we are somewhat around $40'ish million when the price is really going up. Significant drop, but I wouldn't be to concern though.

This has happened in the past, and I think that $8800 is a big support from traders so I'm not expecting the price to drop this week and we might see it getting above $9k again.