Let's see If BTC re-test 9500$ zone

[Lasky366]

BTC is coming out of downtrend.So short term may be bullish.Let's See if BTC retests 9500 Dollars Zone.

[STT]

Dancing around the 2 day average at the moment.    We could take it as simply as above this average it will move onto 8 day average area which is around 9500 which is in the down trend blue line on your chart so think I agree with that one.   
  I wont form a conclusion till end of the weekend as I think that we need to finish that weekly bar before move onto a new movement.  Not sure it'll go sideways exactly but thats my bias or perspective usually.

[Jating]

Bitcoin is above $9200 as of now, the two or three days of dip have been somewhat recovered.

So we need a few more days to validate and see if we can re-test $9500 zone again. Remember that prior to the dip, we are trading around $9500-$9700 and trying to reach $10k. So I don't think that we will go sideways before the end of the week and could be retesting $9500 anytime soon.

[maydna]

If in the next weeks, the price cannot increase and break $9,200, I guess we will hard to re-test $9,500 because we are still far away from that price. When bitcoin price can break $9,200 or $9,300, then we can re-test to the $9,500, but still, as you said, we need more days or weeks to see if bitcoin can increase at the end of this month. Perhaps, we can see bitcoin price can up to $9,500 in the next months, but we hope that it will happen before the next month.

These situations need more patient for us because bitcoin can go up or down again, which we don't know and don't have a clue for that. So we need to be careful to decide.

[btc_angela]

These situations need more patient for us because bitcoin can go up or down again, which we don't know and don't have a clue for that. So we need to be careful to decide.

I think what the OP is doing here is trying to predict the price movement based on TA obviously.
So regarding our tolerance, we have seen the price movement before and I'm sure some of us, specially holders doesn't care much. Regarding $9500, clearly this should be the next target or the next resistance that we need to overcome. Let's see how the candles are going to close this day or at least the end of the week. If a breakout to $9500 is possible or not.

[leyton11]

I think the market is starting to enter a bear trend. This strong recovery is due to governments promising that they will control the virus pandemic and bring the economy back to work as soon as possible. But now the political battle and struggle against Covid is still fierce. The United States and some other European countries are greatly affected and it is likely that it will lead to the economic crisis next year. When money is continuously printed and the economy is unable to make up for it, it is normal for hyperinflation to occur. so I have a pretty bad view of the future financial markets.

[okala]

BTC is coming out of downtrend.So short term may be bullish.Let's See if BTC retests 9500 Dollars Zone.

I think there is a need for bitcoin to come down a little before next strong movement. The 50ma on the daily chart has just crossed 200ma and it has been proven to be along term bullish signal but rsi is showing overbought.

[Yamifoud]

...
BTC is coming out of downtrend.So short term may be bullish.Let's See if BTC retests 9500 Dollars Zone.

Bitcoin price dumps today but it doesn't mean that it goes directly to the bottom. Likewise, this is similar to what it happens in the previous weeks, we started at $8k then it drops to $3.8k and bounces back again, besides it move going straight high. We saw this declining sentiment but surely it will come back above the $10k resistance. But then, I was not closing some instances that it drops more before it rises back and maybe we shouldn't have to take this seriously for it leads into FOMOing.

[buwaytress]

If there's a bounce, then it's a weak one, 1+% moves up and even a 0% movement just an hour or so ago, so that made me think it'll falter. That it's picked up again, minuscule creeps up, is probably a bit of a surprise on the weekend.

It's pretty incredible that it still hasn't given up 9k levels though. Still absolutely no strong feeling either way for me though, but my thoughts yesterday that the bears would have to see through the huge depth of buy orders at above 9000 looks to be true.

[posi]

...
BTC is coming out of downtrend.So short term may be bullish.Let's See if BTC retests 9500 Dollars Zone.

Bitcoin price dumps today but it doesn't mean that it goes directly to the bottom. Likewise, this is similar to what it happens in the previous weeks, we started at $8k then it drops to $3.8k and bounces back again,

I learnt that mining difficulty level and market demand/supply are what determine the trend of bitcoin market which is furthermore what happen today when the price of BTC dump. But, to understand you correct when exactly are referring to when you said the price of BTC dumped to 3.8K?

[bitgolden]

Do you guys really think that ıf bitcoin tests over 9500 once again there will be anything different? I feel like that is not something major and it wouldn't really change too much in the bitcoin world. If it goes above 10k or even 11k that would be a big news, but going over 9.5k is not really something special anymore to me. It always goes above that eventually but it drops like crazy as well. Remember last year it was over 13k and it still managed to drop under 4k this year (I agree it was pandemic and quick).

So, we need to reach to a level where it no longers drops under these prices. For example we do not drop under 3k anymore, 0 to 3k is all but closed for bitcoin, we need to increase that bottom to 5k at least, that is what I am excited about.

[STT]

I think there is a need for bitcoin to come down a little before next strong movement. The 50ma on the daily chart has just crossed 200ma and it has been proven to be along term bullish signal but rsi is showing overbought.

Pretty much agree with you on that but its a case of which time frame and we can rise before we drop and ideally thats how we drop because a fake out upside shakes out the longs before engaging the real move downwards, it kinda makes it easier for us to go lower.  In fencing this is known as a feint I think, old dnd players know what I mean :p   Same can happen in reverse with a pin candle downwards but in fact we rise rapidly thereafter.
   For this moment in time I think the reasonable scenario is a convergence towards 9400 or so, its not very far in theory but I come from the days of 100 dollar BTC and every move is large in theory and certainly this can be traded for a profit and so people will.  My bias on weekends is positive but I dont trade it, I just often close shorts or hold with that idea in mind and once again I think its reasonable context for now we get that higher price.   
  We are above 2 day average:

[eaLiTy]

I learnt that mining difficulty level and market demand/supply are what determine the trend of bitcoin market which is furthermore what happen today when the price of BTC dump.

The demand and supply determines the price of BTCitcoin and mining difficulty is directly correlated to the price. Since halving many miners have shut down their machines and now the confirmation time is really high unless you are paying a much higher transaction charge and the difficulty level should be decreased as the hash rate has dropped. Since miners are looking for incentives as soon as the price moves higher the hash rate increases and thereby the difficulty will be adjusted according to that.

So, we need to reach to a level where it no longers drops under these prices. For example we do not drop under 3k anymore, 0 to 3k is all but closed for bitcoin, we need to increase that bottom to 5k at least, that is what I am excited about.

The market determines whether it is time to change the bottom . I hope we will not see $3k valuation anymore but in a market anything is possible.

[GreatArkansas]

I love the way you did to the chart, especially the Fibonacci retracement, which seems like aligning and precise. The 0.786 here is the key resistance level for the short term part, especially you are using 30 minutes time frame. Breaking $9,500 could be a good move for Bitcoin here, looking forward to breaking the $10,000 level once we are done with $9,500.

[Oasisman]

The current price is $9,200 and it is in the big possibility to set it back once again a few days from now. Still, the market goes up and down and can't be confident that after hitting back to $9,500 resistance will continue to surge high or it drops back again.
Well, the mining activity will have a big impact to the market and that hoping that they'll be turning back to their operation.

The huge hash rate drop from the past couple of days maybe causing the Bitcoin price to go lower than the $9,500 level.
We might be seeing a good price run again once majority of the miners will be settled with their operations. Some people might get lazy doing transactions and moving their Bitcoins because of the high transaction fees.
Nevertheless, everyone is looking forward to see the 5 digit figure of Bitcoin.

[mahilchii]

To me it looks like there are possiblities to break this $9.5k barrier, now the price is slowly moving towards upwards. But only if it goes above 10k there will be some interesting news and we can also say it might be a bull rally, after Halving we have seen this price movement from 9k - 9.5k several times playing like a seasaw. I will consider bullish move only if it breaks 10k.

[maydna]

These situations need more patient for us because bitcoin can go up or down again, which we don't know and don't have a clue for that. So we need to be careful to decide.

I think what the OP is doing here is trying to predict the price movement based on TA obviously.
So regarding our tolerance, we have seen the price movement before and I'm sure some of us, specially holders doesn't care much. Regarding $9500, clearly this should be the next target or the next resistance that we need to overcome. Let's see how the candles are going to close this day or at least the end of the week. If a breakout to $9500 is possible or not.

I guess we see that the price is going to close at $9,200-$9,300, and that is not much higher or lower than a few days ago. I think the price has stable now but who knows, the price can increase in the next week. I think it is hard to break out to $9,500 if we do not see bitcoin price can break for $9,300 for the first step to increase. The holder still waiting for the price to grow, and no matter if it needs a long time, they will be patient, and they will not come in a rush. But we can see the bitcoin price now have a green candle so we can have a chance to see it will grow in the next week.

[kapalmabur]

it looks like the price of Bitcoin will not go up to $ 9500 for now, the price is breaking down to $ 9100 now, what do you think? is it still up to $ 9500 or will we indeed see the price of Bitcoin even lower? 

[carter34]

I think we are going to see price hitting $9,000 this coming week as a taste. Now selling at $9,116.08, it looks like the drop is going to have some little more time for a direction to be clear. I think next week might continue with some slow movement.

[posi]

I learned that mining difficulty level and market demand/supply are what determine the trend of bitcoin market which is furthermore what happen today when the price of BTC dump.

The demand and supply determines the price of BTCitcoin and mining difficulty is directly correlated to the price. Since halving many miners have shut down their machines and now the confirmation time is really high unless you are paying a much higher transaction charge and the difficulty level should be decreased as the hash rate has dropped. Since miners are looking for incentives as soon as the price moves higher the hash rate increases and thereby the difficulty will be adjusted according to that.

That's correct but we still can be sure if the miners are indeed looking for incentive cause i believe the current pandemic with the current free time should be enough to incentive every miners rather than be idle.

it looks like the price of Bitcoin will not go up to $ 9500 for now, the price is breaking down to $ 9100 now,

Thats because of the huge numbers of arbitrage traders which swapped their investment into more stablecoinsThstrengthen f you check the trend of stablecoins in the market youll agree with me but the current momentum of the market cant be use to judge what will happen.

what do you think? is it still up to $ 9500 or will we indeed see the price of Bitcoin even lower?  

The bitcoin market seems to be strengthened whenever it reaches $9090 price range so i dont think it will lower than that.