BTC market analysis

[_JamesBond_]

After the bitcoin market rose yesterday, it fell back again and was in a sideways shock. It still did not break through the 10,000 mark. It has been touched three or four times in a row, and it has hovered around 9500; this market trend has been maintained for almost a week. Position breaking, just waiting for the arrival of a large position breaking, the recent trend in operation, it is very easy to do for traders who like shock market, high altitude and low can be more, but it is quite torment for traders who like unilateral market ;

Bitcoin encountered strong suppression at the 10,000 mark, and the market was adjusted in the form of parallel shocks to digest the pressure of the upper selling. Although the high price of the currency did not break through, the low point gradually moved up, indicating that the long and short powers have entered equilibrium The state is more conducive to the next price breakthrough. Then such a trend will also lay a certain foundation for the subsequent break-up, because the slower the upward trend, the greater the unilateral market brought after the breakthrough. This is the slow-up market must be accelerated.

It is determined that the overall trend is mainly strong. Next, we will analyze from 4 hours. In 4 hours, we can see that the overall trend is slightly oscillating triangle, and it is currently near the pressure line above the oscillating triangle and also at the tail of the oscillating triangle. The market is about to face an upward breakthrough. If it breaks, then the 9960 first-line breakthrough needs to be confirmed above. If this position is broken, then it will directly challenge the 10,000 high point. If there is no breakthrough, there will be no pressure. Unobstructed at a glance; the intra-day operation still focuses on the short range of 9400-10000, breaking the position can follow the trend, the operation is still small stop loss to gain big gains.

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[drlukacs]

Yes, after analysis, I also expect bitcoin to continue to rise. Based on psychological analysis, I realized that many people want to invest their money. Once Bitcoin halving has been activated, more people will be willing to buy bitcoin at a higher price. Therefore, the bull team will continue to push the price of bitcoin at $ 10k5 and even break the old peak to surpass $ 11k. but then there will be a major correction and could bring the price of bitcoin below $ 9k.

[maxreish]

Great explanation about market analysis, OP.
 I have been wondering why it is hard for it to break and touch $10,000. It's either, will never break that and dump again or will test to break $10k before finally going up.
 
 You analyze it from 4 hr tf, what about in 1day? $9,000 is still strong at the moment though.

[Sanitough]

Great explanation about market analysis, OP.
 I have been wondering why it is hard for it to break and touch $10,000. It's either, will never break that and dump again or will test to break $10k before finally going up.

We broke $10K already when it was close to the halving day but I think that's it and I don't even expect bitcoin to stay this high considering I believe that there was a great hype prior to the halving, if it will fail to break the resistance then we will drop, I don't care how low but as what the trends are saying, bitcoin is going to recover fast and be ready buying that dip anytime.

I am not a short term trading, but thanks for the analysis OP.

[maydna]

Great explanation about market analysis, OP.
 I have been wondering why it is hard for it to break and touch $10,000. It's either, will never break that and dump again or will test to break $10k before finally going up.
 
 You analyze it from 4 hr tf, what about in 1day? $9,000 is still strong at the moment though.

It seems bitcoin price needs to adjust to the lower price again this time, and we see that the price touch $9,300 level price, lower than what I think before. But I wonder if the price will be rise again after this moment because the price is hard to go up again. But for the long term, I am sure that the bitcoin price will go to go up again, and the price will break $10k.

Although $9,000 is still strong, we don't know if the price can stay at that price level or not because everything can be possible now. Bitcoin can go up and back to up to $9,500, or it will go down below than $9,000. We'll see it later, but I hope that in the next week, bitcoin price can back to the higher price.