Now BTC Price will drop or up?

[Lasky366]

 
BTC/USD Technical Analysis

Over the past week, the BTC Price has been stabilizing between 9.5K-9K. If it breaks 9.5K then it can retest 9.8K-10K. Both 9.2K and 8.5K are the Important Level.9.2K, BTC will be dumped at 8.5K if that break. 8.5K is the key level which can take correction to BTC 7.6K - 6.2K if broken

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[jackg]

I still fell like we should see another retest of 10-10.5k before any potential fall comes into play but I'm not entirely sure... We could see a drop further to 8.8k and then back up to this zone and just consolidate for a while too...

[pooya87]

actually price has been stable between $9k and $10k and it has been going up and down in this range, sometimes it is closer to one side more than the other but the range remains the same. and that makes $9k and $10k the important support and resistance levels instead of the prices you mentioned which is why many are looking for these levels to be broken to make a move then.

by the way you should never look at bitcoin price versus Tether. always look at it in USD or any other real fiat currencies (EUR, JPY, CNY,...). your chart is using Tether which is a shady and high risk altcoin.

[Coin_trader]

actually price has been stable between $9k and $10k and it has been going up and down in this range, sometimes it is closer to one side more than the other but the range remains the same. and that makes $9k and $10k the important support and resistance levels instead of the prices you mentioned which is why many are looking for these levels to be broken to make a move then.

by the way you should never look at bitcoin price versus Tether. always look at it in USD or any other real fiat currencies (EUR, JPY, CNY,...). your chart is using Tether which is a shady and high risk altcoin.

It's somehow very close to USD since USDT is wag pegged to USDT. I believe + or - 0.5% to 1% difference which is negligible when analysing a chart with a Daily Time frame and so on. I agree with you that BTC is still in the indecision stage which is ranging from 9k to 10k but if we can see the trading volume, the buying power is decreasing overtime and its a bad sign that it might broke the support soon which I hope that I'm wrong.

[Oasisman]

BTC/USD Technical Analysis

Over the past week, the BTC Price has been stabilizing between 9.5K-9K. If it breaks 9.5K then it can retest 9.8K-10K. Both 9.2K and 8.5K are the Important Level.9.2K, BTC will be dumped at 8.5K if that break. 8.5K is the key level which can take correction to BTC 7.6K - 6.2K if broken

Do we have any relevant events that could pull Bitcoin down when it hits the support level of $8,5k? Or these are purely based on the chart pattern movements?

It has been a few weeks since Bitcoin remains at the region of $9,000 - $10,000 level, and It doesn't show any  obvious indicators that it will fall down below the support level again. Once it touches the edge of $9,000, it usually bounces back to a couple of hundred dollars again in 24 to 48 hrs.
There might be something that is really hindering the Bitcoin price to go beyond $10,000 level.

[coinfinger]

I still fell like we should see another retest of 10-10.5k before any potential fall comes into play but I'm not entirely sure... We could see a drop further to 8.8k and then back up to this zone and just consolidate for a while too...

I am just seeing the opposite of it. We may see another pull back up to $8800 levels before trying to break the long holding resistance levels around $10,500. In short term market may remain under bear's control but as usual bulls may take over the control at any time because after halving bulls are still not coming into action to ensure momentary benefits to bitcoin mining.

At the same time, the chances to climb up from the current levels is seeming too low due to pandemic reasons. Exchanges are not showing significant improvements when bitcoin prices hit its bottom of range bound. So, it seems bulls are waiting for the prices to test support levels around $8800 levels before making it rally toward the biggest physiological barrier around $10,000 to $10,500 levels.

[GreatArkansas]

For me, that support around $9,000 is the minor support we need to hold right now.
Breaking below on that $9,000 area could be a minor bearish for me, like dropping below $8,000 or $7,000 (0.618 or 0.5 on your Fibonacci, worst is on $6,000 areas which 0.382 level).
The price action of Bitcoin still neutral these days, I am calmer for these price actions of Bitcoin compare to some flash dumps or flash pumps.

[justdimin]

Interestingly bitcoin neither breaks down under $9.3k levels but it is not going above neither, it got stock between $9.3k and $9.4k levels and not moving anywhere, I do not really know the reason why bitcoin would get stuck and not move because normally it is a very volatile currency that goes up and down frantically and you can't even catch it, I remember days when I don't know the price of bitcoin from one minute to another and have to keep checking it constantly to be in the know, nowadays I could not check it for a week and know what the price is because it is not moving at all.

There must be a reason and an explanation of why bitcoin would normally move that way but these days it felt like staying still is a better option, why it didn't do it before and why it is doing it now?

[judaspriest]

it is very difficult to predict in the current situation, the price of bitcoin is still stable,
it may go down at $ 9,000 then go back up to $ 9500, let's see

[okala]

The really next move is going to be a big one. I am foreseeing a positive price movements and that in turn is going to push bitcoin above $10,000 but it might not last long there.

[adaseb]

BTC price right now is largely correlated with the stock market. Entire last week both the indicies and BTC traded in a narrow range. Basically people are waiting for it to either break up or down.

This correlation will  last until most likely the pandemic is over. So if SP500 crashes to new lows so will BTC most likely. Hence why all the traders now are waiting for the futures to open so they can determine the next direction.

[exstasie]

by the way you should never look at bitcoin price versus Tether. always look at it in USD or any other real fiat currencies (EUR, JPY, CNY,...). your chart is using Tether which is a shady and high risk altcoin.

As long as arbitrage keeps the markets in line it doesn't affect the charts. USDT has been trading at $0.99-1.01 for a very, very long time. Given that, what specifically is the problem with charting USDT pairs?

If the "high risk shadiness" of Tether hits and USDT holders get screwed, can't cash out, etc. it will be reflected in market prices, just like it was on Mt. Gox in 2014 or Wex.nz in 2018. Cross that bridge when we get to it, not sooner.

Hence why all the traders now are waiting for the futures to open so they can determine the next direction.

20 minutes until the weekly open! I'm very curious to see where futures open after Friday's nasty close.

[arwin100]

The really next move is going to be a big one. I am foreseeing a positive price movements and that in turn is going to push bitcoin above $10,000 but it might not last long there.

Its kinda early to tell but I also feel that coming, but unfortunately we will not get any stability for that numbers since we are still at bad situation, so maybe best for us not to do a long trade since we might gonna caught up or miss those fast opportunity brought by volatility and best for us to react the way on how the market moves today.

[adaseb]

So just as predicted. The stock market futures went live and started to dump and so did BTC. Then an hour later it started to pump and so did Bitcoin. Now both are riding very slowly. But they reversed at pretty much the same time.

Hence why predicting btc short term is difficult because it's considered a risk on asset and performs as one unless they decouple sometime in the next few months.

So btc will break $10.5k only when sp500 breaks the high of the last month. Which most likely won't happen.

[pooya87]

The stock market futures went live and started to dump and so did BTC. Then an hour later it started to pump and so did Bitcoin.

everything should be to scale, you can't compare different classes with each other. a pencil being 20 cm is considered long, a human being 10 cm is not "long" (tall) because it is in a different scale.
bitcoin moving 0.5% to 2% is considered stable. stock market moving 2% can be considered volatile. bitcoin moving 20% to 30% is volatile but normal, stock market moving 20% to 30% is super crazy!
you can say bitcoin price "dumped and pumped" when all it did was to go down ~1% and back up ~1% while still in the same range as previous months going through exactly the same rises and falls!

[maxreish]

I still fell like we should see another retest of 10-10.5k before any potential fall comes into play but I'm not entirely sure... We could see a drop further to 8.8k and then back up to this zone and just consolidate for a while too...

Yep, possibly. Since some predictions said bitcoin will gonna fall again down to $7k but since it was at it's steady level  at $9200- $9600 it's either will touch up $10k again. Let's see how does bitcoin will be move, I think these upcoming days seems interesting for the btc market. Either it will rebound and retest or the either way around. Some btc enthusiast also said there is hidden divergence on the chart.

You can check it here to see the chart.
https://cryptopotato.com/bitcoin-price-analysis-decision-time-facing-now-huge-resistance-area-hidden-divergence/

[OrangeII]

I'm still pretty sure that the price of bitcoin will reach $ 10k in the near future. however, looking at the chart, I became a little pessimistic. it's just that, considering that the current conditions are really quite good, then I believe that the price of bitcoin will rise in the near future. Well, it's just possible that the price will go down.

[Lasky366]

 
BTC/USD Technical Analysis

Over the past week, the BTC Price has been stabilizing between 9.5K-9K. If it breaks 9.5K then it can retest 9.8K-10K. Both 9.2K and 8.5K are the Important Level.9.2K, BTC will be dumped at 8.5K if that break. 8.5K is the key level which can take correction to BTC 7.6K - 6.2K if broken

9.4k imporatant level. We will see upward rally after this breakout .Then it can retest 9.8k again. Let's see.

[maenauaras]

we have three support levels:

*$9,100 - Pivot Poitn 1-week Support 1

*$9,300 - 38.2% Fibo retracement daily.

*$8,950 - 61.8% Fibo retracement monthly.

Price Break all these levels to reach about 9400 dollars, and therefore the important level is to break 9700 dollars so that the price can rise above 10,000 dollars.

$ 9400 are levels to ensure that the price will not fall below that level.

It is strong to rise above 10000

[FanEagle]

the important level is to break 9700 dollars so that the price can rise above 10,000 dollars.

$ 9400 are levels to ensure that the price will not fall below that level.

It is strong to rise above 10000

It seems bitcoin got all the power to test $10,000 but keeps failing to break the resistance levels around $15,000 and this way it is a range bonding between $8900 to $10,400. Due to lack of new investors, we still got stuck under $10,000 levels even after halving. We need to blame pandemic triggered economic slow down for impacting new people from showing interest on bitcoin adoption/trading.

By seeing gold is performing well at the same time, we can be confident about bitcoin to bounce back at any time regardless of whatever technical analysis says about. I'm sure about institutional funds to treat bitcoin into the same category of gold on these pandemic times. But, it must be already happening but in less numbers compared to what we had by the times of 2016/2017.

[Yamifoud]

I see no difference since last week, Bitcoin price still stabilizes at $9.2k to $9.8k. And I think there is no big change in this quarter but not sure how it behaves early 4th quarter as most of this time there is a market surge. As I look into the chart, it can be of a drop after these few pumps just like it happens in previous pumps but I'd never think for a big drop, it will still be lying into the range as I mentioned above.

Anyway, the market will remain like this until this pandemic won't be flattened. People are still skeptical about putting their money for investment and this could affect the support level that we wanted to be.

[Lasky366]

it is very difficult to predict in the current situation, the price of bitcoin is still stable,
it may go down at $ 9,000 then go back up to $ 9500, let's see

well thanks for your excellent predictions. its already touched 9500 level. so next we could see retest around 9800 level. if that not break it might pull back in previous zone.

let's see if this happen or not

[Lasky366]

 
BTC/USD Technical Analysis

Over the past week, the BTC Price has been stabilizing between 9.5K-9K. If it breaks 9.5K then it can retest 9.8K-10K. Both 9.2K and 8.5K are the Important Level.9.2K, BTC will be dumped at 8.5K if that break. 8.5K is the key level which can take correction to BTC 7.6K - 6.2K if broken

BTC today mixture of bearish and than bullish, as per our prediction price   first touched 9565 ( already happened as BTC touched 9577) than move up than again chance to come down near 9450... thereafter  touch 9850 & pulled back again...


here just a small brief we have given..play safe and smart...

[Kelvinid]

The fact that the Bitcoin price trend can't be predicted that is why we saw this kind of results (ups and downs). Even though we have a less chance to surpass $10k this month but at least we saw the market seems so good and healthy despite the pandemic we face. To see the global economic system isn't already recovered, then we can expect that the market to behave the same as what we experience in the previous days. This thing holds the market to spike for another ATH and that we only hope for the halving to take effect and see the positive results on it.

[7788bitcoin]

~
BTC today mixture of bearish and than bullish, as per our prediction price   first touched 9565 ( already happened as BTC touched 9577) than move up than again chance to come down near 9450... thereafter  touch 9850 & pulled back again...

When you look at all these graphs you need to take into consideration about the derivative market as there is a huge options trade of over $930 million will expire this week and it will have an huge impact on the market and we might even see the market breaking the resistance but it all depends upon how the stock market will perform in the coming weeks, if there is a major sell off in the stock market it will have an impact in the cryptocurrency market too.

[cryptoangel]

The current market is good in BTC, so many investors are concentrate bitcoin investment and current market is gradually growing in last 3 days so those are plans to short term and day trading surely bitcoin is the best platform in trading. I hope no one invest the total money in Bitcoin so better hold some money in stable coin and altcoins.

[el kaka22]

Looking at the price right now it is above $9.4k levels like mentioned in the OP and that would mean bitcoin would go up. Right now, we have managed to move from $9.3k levels to 9.6k levels and that is very important for our future. Today is Tuesday and we have a lot more days left to finish the week, by Sunday if we are still above $9.5k I can almost guarantee that price will go up and that is why I just hope that we can hold off a big sale that might come.

If no sale comes and the price manages to stay above $9.5k for the rest of the week, by Monday we are going to see something special. I say above $10k is pretty possible but I can see that $12k is not far away neither, a big increase could see us going above $12k. However we would need to stay there for a while which is difficult to make sure we don't fall back, otherwise we might just go back down to $9k pretty quickly as well.

[hahay]

Today's market is getting a good improvement and I think it will continue until the next day or it will probably touch 10k again in the near future because at least, prices will continue to move in the same range as possible until the end of the second quarter, but if this movement can be consistent it is very possible when entering the third quarter the market will be able to maintain its value above 10k.

[exstasie]

The stock market futures went live and started to dump and so did BTC. Then an hour later it started to pump and so did Bitcoin.

everything should be to scale, you can't compare different classes with each other. a pencil being 20 cm is considered long, a human being 10 cm is not "long" (tall) because it is in a different scale.
bitcoin moving 0.5% to 2% is considered stable. stock market moving 2% can be considered volatile.

Correlation is defined primarily by direction, not magnitude. The point is both markets are moving in the same direction. If stocks crash again like they did in March, I would expect BTC to crash even harder. Same direction, bigger magnitude.

Until the markets begin diverging, I am not even primarily focused on TA on BTC anymore since it follows the stock market so closely.

[crwth]

Personally, I would like to see a price going up to $10500 Just because of the recent movements. I saw the latest news about PayPal wanting and boosting the image of bitcoin, saying that it could go around $12,000. Maybe it could provide a boost in people's interest to get Cryptos or something knowing the reputation of PayPal is well known to many people around the world.

https://cointelegraph.com/news/paypal-bitcoin-rumor-boosts-12k-btc-price-rally-chances

[Lasky366]

Personally, I would like to see a price going up to $10500 Just because of the recent movements. I saw the latest news about PayPal wanting and boosting the image of bitcoin, saying that it could go around $12,000. Maybe it could provide a boost in people's interest to get Cryptos or something knowing the reputation of PayPal is well known to many people around the world.

https://cointelegraph.com/news/paypal-bitcoin-rumor-boosts-12k-btc-price-rally-chances

I think good point you made!
12k usd bitcoin  we can expect after knowing that paypal accepting bitcoin.
But if you look at the bitcoin dominance it looks like indicating another ALT coins season.Because bitcoin still spinning around 9k-10k.So we  could see an ALT Coin rally very very soon.

Let's see...

[Zackgeno96]

it is very difficult to predict in the current situation, the price of bitcoin is still stable,
it may go down at $ 9,000 then go back up to $ 9500, let's see

well thanks for your excellent predictions. its already touched 9500 level. so next we could see retest around 9800 level. if that not break it might pull back in previous zone.

let's see if this happen or not

This level is actually pretty important in deciding the fate of bitcoin price as a small dump will lead to a bigger dump now as it will confirm that a bearish market is started but a small pump will take the price higher and will again test for a bearish market, so I am watching the price carefully here without taking any risks in trading at the current moment. Although if you are trading then you should use stop losses right now for precautions against a trend reversal.

[lepbagong]

the current position of bitcoin is that it has been seen for several weeks that there has been no significant movement.
bitcoin is in the position of $ 9K and continues to move up or down around that price. it is possible that it will fall because it is estimated that from the end of the year bitcoin starts to slowly rise and continue moving until next year. where bitcoin will repeat the events of 2017 and may be greater than 2017 predictions.

[ancafe]

the current position of bitcoin is that it has been seen for several weeks that there has been no significant movement.
bitcoin is in the position of $ 9K and continues to move up or down around that price. it is possible that it will fall because it is estimated that from the end of the year bitcoin starts to slowly rise and continue moving until next year. where bitcoin will repeat the events of 2017 and may be greater than 2017 predictions.

I hope that the next bitcoin price increase will be like in 2017. However, bitcoin price movements are currently declining, and there is no certainty that the price will pump like 2017. However, halving at the moment does not seem like the same as 2017 ago, but I expect the highest price.

[carlisle1]

 
BTC/USD Technical Analysis

Over the past week, the BTC Price has been stabilizing between 9.5K-9K. If it breaks 9.5K then it can retest 9.8K-10K. Both 9.2K and 8.5K are the Important Level.9.2K, BTC will be dumped at 8.5K if that break. 8.5K is the key level which can take correction to BTC 7.6K - 6.2K if broken

It looks like there is no clear if we will finally break $10k again or will continue to fall now.Yesterday we almost Hit $9,700 but now
 it fell down to $9,100 again and seems to be falling below 9k finally.

i hate this to happen because i have been waiting all this year to hit 5 digits and stays on that level but nothing
 happens closer.

the current position of bitcoin is that it has been seen for several weeks that there has been no significant movement.
bitcoin is in the position of $ 9K and continues to move up or down around that price. it is possible that it will fall because it is estimated that from the end of the year bitcoin starts to slowly rise and continue moving until next year. where bitcoin will repeat the events of 2017 and may be greater than 2017 predictions.

actually it is 2016 Halving but turns the effect in 2017 when the bullrun really shows his Power and bring us all the profit
 we have been waiting for.

But this halving is affected of the pandemic and the whole world suffer so if there is a delay then expect this to happen.

[maydna]

It looks like there is no clear if we will finally break $10k again or will continue to fall now.Yesterday we almost Hit $9,700 but now
 it fell down to $9,100 again and seems to be falling below 9k finally.

i hate this to happen because i have been waiting all this year to hit 5 digits and stays on that level but nothing
 happens closer.

It will happen soon, be more patient to wait for that. Finally, we see what is happens in the bitcoin market. The price now is down to $9,100, and the down of the price this time is deeper than before. I guess that makes some traders become panic to save their money in bitcoin. If we check on the market, the price still has a red candle, and the price still hard to recover to the green area or higher rate. Maybe this weekend, the bitcoin price will adjust to the new price, and in the next week, the bitcoin price will start a rally to the higher rate.

Besides that, a few days later, we will see a new month which can bring new hope to us, and I am sure that what we are waiting for will happen soon. We need to prepare the bitcoin by buying bitcoin at a lower price.

[TheGreatPython]

Also, if you are waiting for that 10k do not forget that price going down actually helps it go higher in the end as well. I know this confuses people a lot usually because how could bitcoin price going down means that it will go a lot higher but that is just how the market works. When the price goes down that means people will sell at the current price but there will be a lot more bitcoins bought at lower ends, which means accumulation and that creates a lot more people who wants to see bitcoin go up.

When they buy a lot more to accumulate and get a future profit that causes the price to go up, when the price goes up there are people who fall for the FOMO and the hype so they buy more as well. All of this causes the price to go higher than right now, all because there was cheap bitcoins to be bought by some people after the drop.

[Cherylstar86]

Also, if you are waiting for that 10k do not forget that price going down actually helps it go higher in the end as well. I know this confuses people a lot usually because how could bitcoin price going down means that it will go a lot higher but that is just how the market works. When the price goes down that means people will sell at the current price but there will be a lot more bitcoins bought at lower ends, which means accumulation and that creates a lot more people who wants to see bitcoin go up.

When they buy a lot more to accumulate and get a future profit that causes the price to go up, when the price goes up there are people who fall for the FOMO and the hype so they buy more as well. All of this causes the price to go higher than right now, all because there was cheap bitcoins to be bought by some people after the drop.

Many factors will affect bitcoin price to climb up higher, but meanwhile FOMO and hype can be possible if whales take the drive of this current market behavior. Regular traders has no control with this recent changes, it creates more panic rather than increasing demand. People's mindset is more of actual market graphical trend analysis and not from predictions.

[pooya87]

The stock market futures went live and started to dump and so did BTC. Then an hour later it started to pump and so did Bitcoin.

everything should be to scale, you can't compare different classes with each other. a pencil being 20 cm is considered long, a human being 10 cm is not "long" (tall) because it is in a different scale.
bitcoin moving 0.5% to 2% is considered stable. stock market moving 2% can be considered volatile.

Correlation is defined primarily by direction, not magnitude. The point is both markets are moving in the same direction.

the magnitude actually defines the direction too specially in case of bitcoin versus other gigantic markets.
for example if bitcoin price goes up 1% only an idiot calls that a surge but the same magnitude in stock market or other big markets is indeed referred to as a "surge" (as it is being referred to as such in eg. DOW). so we can't say bitcoin surged alongside stock market when both market go up 1% or conversely call it dumped when both go down 1%.
and that is what happened over the past couple of days which OP refers to in that initial quote.

[rodskee]

Many factors will affect bitcoin price to climb up higher, but meanwhile FOMO and hype can be possible if whales take the drive of this current market behavior.

Reality indeed, FOMO and hypes still in the hands of big bag holders, those large investors who creates movement
according to how they wanted the market will turned.

Regular traders has no control with this recent changes, it creates more panic rather than increasing demand.

Small time traders only hoping for short term benefits, easily be move by circumstances if they seen danger with
the position that they've take.

People's mindset is more of actual market graphical trend analysis and not from predictions.

True, in an actual situation where traders are being influenced to how they will close their position and not by any
predictions around.

[bitbunnny]

To my opinion neither significant rise nor significant drop will happen. I think that price will continue to fluctuate in.current range for a while and I don't see what could at the moment influence price so deep that would be a trigger for huge change in either of ways, positive or negative. So, I don't make any special preparatons for my portfolio.

[ethereumhunter]

I guess we need to be careful now because bitcoin prices back to the lower price again. The price now down at $9,193, and we don't know if the price will go down for more or back to the $9,200. Hopefully, the price can back to the high price and not going down too deep, so we don't have to wait for more to sell bitcoin that we already bought before. I will wait for more and just watch the price moves, so I can make something related to the price position.

[carlisle1]

It looks like there is no clear if we will finally break $10k again or will continue to fall now.Yesterday we almost Hit $9,700 but now
 it fell down to $9,100 again and seems to be falling below 9k finally.

i hate this to happen because i have been waiting all this year to hit 5 digits and stays on that level but nothing
 happens closer.

It will happen soon, be more patient to wait for that. Finally, we see what is happens in the bitcoin market. The price now is down to $9,100, and the down of the price this time is deeper than before. I guess that makes some traders become panic to save their money in bitcoin. If we check on the market, the price still has a red candle, and the price still hard to recover to the green area or higher rate. Maybe this weekend, the bitcoin price will adjust to the new price, and in the next week, the bitcoin price will start a rally to the higher rate.

Besides that, a few days later, we will see a new month which can bring new hope to us, and I am sure that what we are waiting for will happen soon. We need to prepare the bitcoin by buying bitcoin at a lower price.

Actually i have been in patience for years now (but of course i will not lose hope just like that) and for how many times this past months that the price of Bitcoin Hitting $10k but again fell down the next days.
Well 3rd quarter is coming,i hope this will bring us more confidence and trust to keep us all Holding and waiting.
and also hope there are no panicking happens this time around till 4th quarter.

[Bitcoinislife09]

I guess we need to be careful now because bitcoin prices back to the lower price again. The price now down at $9,193, and we don't know if the price will go down for more or back to the $9,200. Hopefully, the price can back to the high price and not going down too deep, so we don't have to wait for more to sell bitcoin that we already bought before. I will wait for more and just watch the price moves, so I can make something related to the price position.

The market price of bitcoin is surely going to experience up and drop in the coming months because it just how bitcoin works. But in the past months, the market price is doing a good job sustaining its market price in 9k$ which is in my opinion a good thing when it comes to bitcoin. We already experience a lot of dumps in the market especially in the past months or year but I think having or sustaining its market price in the market is a good thing and might have its chance to surpass 10k$ in the market and go up to 15k$ in the market which is not reached in the past months or years of its market. Definitely it's a bad thing especially for short term investors here in bitcoin because they cannot make a good profit but the market price is not having much movement but just sustaining its market price.

[beerlover]

How could we know? There is literally no method proven to be 100% accurate at all times to predict the future of bitcoin. Big data companies love to make these kinds of predictions depending on the previous things and depending on what people want and see but even they are sometimes wrong.

Let's say you have "thoughts" of 100 million bitcoin users, and 99 million of them says that bitcoin price will go up next, you would assume that it will go up right? Since it is the people that buy and make it higher it is all depending on people and 99 million just said it will go up. However what changes is, even if one rich person sells 50k bitcoins suddenly that means the price will fall like crazy and that 99 million will join the selling as well because of it. So like I said, there is zero prediction method.

[exstasie]

everything should be to scale, you can't compare different classes with each other. a pencil being 20 cm is considered long, a human being 10 cm is not "long" (tall) because it is in a different scale.
bitcoin moving 0.5% to 2% is considered stable. stock market moving 2% can be considered volatile.

Correlation is defined primarily by direction, not magnitude. The point is both markets are moving in the same direction.

the magnitude actually defines the direction too specially in case of bitcoin versus other gigantic markets.

No, that doesn't make sense. "Magnitude" refers to the size or extent of a price move. "Direction" refers to up vs. down. In other words, magnitude is a qualifier for an uptrend or downtrend. It doesn't change whether two markets are correlated.

If stocks and BTC uptrend and downtrend together (and they do, at least at the present time) that establishes their positive correlation.

The reason BTC price moves have greater magnitude is because unlike stocks, BTC has a very illiquid market that is easily pushed around. That is irrelevant to the question of correlation.

[diazepam666]

Bitcoin is a decentralized crypto currency so price will stable in the market. So no one prove the price will drop or up, But we are all know price move both ways. The current market is unstable so we never said it will  be moving be same direction, may be Bitcoin is comes under the regulations and globalisation all the countries declare the price value. But it will never happened on short period so patience is only way to survive on Bitcoin.

[maydna]

~snip~

Actually i have been in patience for years now (but of course i will not lose hope just like that) and for how many times this past months that the price of Bitcoin Hitting $10k but again fell down the next days.
Well 3rd quarter is coming,i hope this will bring us more confidence and trust to keep us all Holding and waiting.
and also hope there are no panicking happens this time around till 4th quarter.

Please, you need to have more patience to wait for bitcoin rising. We all have the same experience from a few years ago, and we are still waiting for the moment of bitcoin rising. I am sure that our waiting time will be pay when bitcoin price can surge so high, and we will have the opportunity to make a lot of money from bitcoin.

Don't lose hope, and keep trusting that the time will come soon. Even if there is a panicking happens because the price is down, actually, that is the best moment for us to buy more bitcoin because the price might not go down deeper in the future. I know that we can do that, and together, we will have a big smile because of the number of profit that we will make later.

[bitgolden]

The thing about waiting for bitcoin is that you can't look at it quarterly if you are long term, you have to look at it yearly. Look at the yearly lows and yearly averages and you will see that even with the $20k in the 2017 period it is still going up.

It is going up both on the yearly lows but also on the yearly averages as well, every year if you take the daily average price of bitcoin you will see that each year is higher and higher. That is why I want to point out that if you wait for 5 more years for example you are going to sell your bitcoin for 2x if you bought right now. That is why I believe if you are a long term investor and you want to be patient, you should not check the third quarter or fourth quarter, that is not day trader but still middle term and not long term, long term means at least years before you end up selling.

[Jating]

Bitcoin is a decentralized crypto currency so price will stable in the market. So no one prove the price will drop or up, But we are all know price move both ways. The current market is unstable so we never said it will  be moving be same direction, may be Bitcoin is comes under the regulations and globalisation all the countries declare the price value. But it will never happened on short period so patience is only way to survive on Bitcoin.

Isn't it you contradict yourself? decentralised and then the price will be stable?

Anyhow, you can't really predict the price, and currently we have seen the price getting closer to it's resistance at $9k, so I'm hoping that it can't be breach and be down to $8k because I'm sure it can cause some panic to some investors specially newbies. We are just midyear though, still a lot of things can happen in the next coming months that can push the price again.

[jhonjhon]

It gonna be both of them. I believe that the market still decentralizes and that can't we saw what will happen next. Yet, we have a declining sentiment yesterday reaches $8.9k but just in a short off and it bounces back again to $9k.
Could we expect the market to continue to surge high, definitely, not? The market will still nowhere to go, ups and downs are a usual thing to see around.

[stadus]

I think it could possibly dump, we never know actually, bitcoin was just stable between $9k to $9,400 but it happened that it dumped, so we never know what's coming but I have a feeling that bitcoin will not be bullish until the end of the year but I don't also think that it will be trading below $5,000 again.

It's either we end $6k by the end of the year or above $10k.

[whyrqa]

According to analysts, the price of Bitcoin is more stable today, because compared to the beginning of 2020, today there is no tough pressure on the part of sellers, while the value of the cash flow index (MFI) has the potential to increase demand and therefore increase the price of bitcoin .
But if you look at the situation on the other hand, then after the halving on May 11, 2020, the reward for the block today is $ 60.843, and before this event the reward was $ 121.687. Based on this, we can make a choice that at the current price of $ 9,700, a significant part of the lungs may suffer miners, which is the most vulnerable due to lack of profitability. there is such an assumption that the number of miners could be reduced by almost 30% and how this situation will affect Bitcoin is very difficult to imagine. Although most still rely on the good development of events in the cryptocurrency market, mainly guided by the influence scenario of the halving of the past years of 2013 and 2016.

[LogitechMouse]

Right now, it is very hard to predict what will be the price movement of Bitcoin since it is going sideways this past few days.

My personal first support is the $9,000 which is currently in hold right now. Going down to this price will probably go to around $8500-$8700 which is the 2nd support for me and going further down, the next support which is a very strong support right now that I see is the 200 Daily MA which is at around ~$8300. Going down to this line will make my sentiment from bullish to bearish.

My resistance is at around $10,000 and going higher and staying above this price will be good for the holders .

[Ridwan Fauzi]

Bitcoin is a decentralized crypto currency so price will stable in the market. So no one prove the price will drop or up, But we are all know price move both ways. The current market is unstable so we never said it will  be moving be same direction, may be Bitcoin is comes under the regulations and globalisation all the countries declare the price value. But it will never happened on short period so patience is only way to survive on Bitcoin.

Bitcoin is indeed have decentralized system it means there is no country/party which can manage it but you have to know the user of it will be depend on the party who manage its users. As you may know, currently the user of bitcoin will not comfortable with government regulation especially a bad regulation for it. So as they will sell and buy bitcoin depend on it and make the price is not stable which I think your statement is not valid in this case. As you can see, just a few day bitcoin price has been experiencing a decrease price and seem like it will continue in a few weeks ahead.

[Hypnosis00]

A crazy thing to think about how to catch those changes and find the right timing to it.
Drop or up? My answer is maybe. We've been stuck for many weeks and until now the price range still remains. It never guarantees that we can make a price hike at this time amidst this crisis but a chance to make a few drops. We think that halving could save us but that was too early to expect the impact on the market trend.

Anyways, we can't just be hopeless at all. We know the volatility and that price could be like a roller coaster ride, sometimes we go up, and sometimes it goes down.

[Zackgeno96]

I think it could possibly dump, we never know actually, bitcoin was just stable between $9k to $9,400 but it happened that it dumped, so we never know what's coming but I have a feeling that bitcoin will not be bullish until the end of the year but I don't also think that it will be trading below $5,000 again.

It's either we end $6k by the end of the year or above $10k.

for now, no one can predict the price of bitcoin specifically and for certain. we can only guess. but, I don't think that the price of bitcoin will fall to the price of $ 6k. however, maybe the worst possibility is the price of $ 7k, well that is my prediction. it's just that, I still believe that the price of bitcoin can reach more than $ 10k by the end of this year.

The higher possibility is of bearish market which is going to happen in the coming months and I also believe that the bearish market will be of only short term then the price will rebound and will reach at least $15k by the end of the year or maybe in the first quarter of year 2021.

Could we expect the market to continue to surge high, definitely, not? The market will still nowhere to go, ups and downs are a usual thing to see around.

No, the market won't go up now because a lot of factors are pointing towards the start of a bearish market now. A lot of times the bully tried hard to cross the bar for starting the bullish trend but failed to do so. I am having all my funds ready to purchase bitcoins once there is a big red line in the market and I am sure of it that it will happen in the near future for sure.

[sheenshane]

My resistance is at around $10,000 and going higher and staying above this price will be good for the holders .

This was the Bitcoin holder's waiting to plunge the price rapidly up but the movement we can really see that it has slowly improved. Most likely holders and waiting to have gained and cut it off and reinvest again when it comes the price drastically down. But my question is we don't know when it will hit again the $10K price of Bitcoin. There's no exact time frame on it.

My personal first support is the $9,000 which is currently in hold right now. Going down to this price will probably go to around $8500-$8700 which is the 2nd support for me and going further down, the next support which is a very strong support right now that I see is the 200 Daily MA which is at around ~$8300. Going down to this line will make my sentiment from bullish to bearish.

I guess the range price of $8500-$8700 has been touched and now Bitcoin price heading goes upward more than $9k plus in the market. But at least we have enough guts when we execute our support resistance strategy. Because in the speculating of price these are very important indicators.

[monineklutak]

I still fell like we should see another retest of 10-10.5k before any potential fall comes into play but I'm not entirely sure... We could see a drop further to 8.8k and then back up to this zone and just consolidate for a while too...

$ 8800 has been reached, how's it going ?, Is $ 10k - $ 10.5 going back to retest? Or will we go back even deeper? thanks

[jackg]

I still fell like we should see another retest of 10-10.5k before any potential fall comes into play but I'm not entirely sure... We could see a drop further to 8.8k and then back up to this zone and just consolidate for a while too...

$ 8800 has been reached, how's it going ?, Is $ 10k - $ 10.5 going back to retest? Or will we go back even deeper? thanks

If we climb past $9.5k then I reckon we could see a surge higher. I'm a bit more pessimistic and there's a lot of bearish sentiment atm so I can imagine a break further to 8.4-8.6k at least is probably likely...

I'm currently (unleveraged) short but I could be wrong you could always wait for a break one way before scalping it with tight SL's.

We could be trolled to $11k and we might be but I still expect some sort of correction, whether 8k is enough of a correction I'm not sure...

[tbterryboy]

Actually it is not the increase in demand that the future looks bullish about, it is the decrease in the supply as well. Because of the halving miners are mining less bitcoin every single day which means sellers could sell as much as they want and continue to do so and keep the price as level as they want, however eventually it will not be profitable to keep selling bitcoin and eventually that will lead to bitcoin being higher.

Of course there is a demand for bitcoin as well and there is an increase of it every day too, but the lack of supply is also quite important. When you combine lack of supply (halving) with the increase in demand, that means future is bright and quite bullish. Of course this is just an estimate, we can never really know it fully and we are just assuming what is going to happen.

[Oceat]

It seems that the price is quite stable in $9k range even if it just touched the $8k level. I think it would continue to be like this for a week then start to touch back the $8k level but of course, there's a factor that would change the outcome such as panic selling or price manipulation. July is coming and I'm sure there is another trend that's going to happen to Bitcoin that time, let's just wait and see.

[Taskford]

It seems that the price is quite stable in $9k range even if it just touched the $8k level. I think it would continue to be like this for a week then start to touch back the $8k level but of course, there's a factor that would change the outcome such as panic selling or price manipulation. July is coming and I'm sure there is another trend that's going to happen to Bitcoin that time, let's just wait and see.

I have a strong thought that next July, the price of bitcoin will reach $ 10k again. however, at the moment the price of bitcoin is indeed so close to the price of $ 8k, but the price of bitcoin is really struggling to maintain the current price of $ 9k. sooner or later, the price of bitcoin will definitely increase, I believe it.

That's a good thought of you and hopefully it will came to that numbers since as of now we are not yet done with pandemic, also no sign with good news so provably we will still seeing it moving at 8k to 9k price. But hopefully those things will just pass by and people will decide to buy some bitcoins again so that we can possibly reach to 5 digits figure again. Let just wait for what future brings and I really keep looking to see a $10k next month.

[traderethereum]

It seems that the price is quite stable in $9k range even if it just touched the $8k level. I think it would continue to be like this for a week then start to touch back the $8k level but of course, there's a factor that would change the outcome such as panic selling or price manipulation. July is coming and I'm sure there is another trend that's going to happen to Bitcoin that time, let's just wait and see.

I have a strong thought that next July, the price of bitcoin will reach $ 10k again. however, at the moment the price of bitcoin is indeed so close to the price of $ 8k, but the price of bitcoin is really struggling to maintain the current price of $ 9k. sooner or later, the price of bitcoin will definitely increase, I believe it.

Hopefully, that can happen in July since we will see the next month soon.
I am sure that if the price can back to $10k, we will back to make a good profit than before, and I think many people will cash out some of their bitcoin after wait for some time.
But until those days, we need to be patient because the price is back to $9k level, so maybe the price will adjust one more time before it will increase higher.
For the long term, I believe bitcoin's price will increase so high, and it will pass more than $10k.

[peter0425]

 
BTC/USD Technical Analysis

Over the past week, the BTC Price has been stabilizing between 9.5K-9K. If it breaks 9.5K then it can retest 9.8K-10K. Both 9.2K and 8.5K are the Important Level.9.2K, BTC will be dumped at 8.5K if that break. 8.5K is the key level which can take correction to BTC 7.6K - 6.2K if broken

It drops today below $9,000 but got back again after an hour.
I think we are going drop again for a while.

the near fall is $7,000 and that is the lowest before the Final happen and the Bull comes .

It seems that the price is quite stable in $9k range even if it just touched the $8k level. I think it would continue to be like this for a week then start to touch back the $8k level but of course, there's a factor that would change the outcome such as panic selling or price manipulation. July is coming and I'm sure there is another trend that's going to happen to Bitcoin that time, let's just wait and see.

Thats wrong because it is not stable at 9k because we are falling a little below,Maybe the range of 8,500-9,500 is the strong level.

[Dollar_Hunter]

Market sentiment is now very bearish, some people say that strong support is at $ 7500, if seen from Lasky366 analysis it looks like it will be the same, at least we should be prepared

[lumeire]

I have a strong thought that next July, the price of bitcoin will reach $ 10k again. however, at the moment the price of bitcoin is indeed so close to the price of $ 8k, but the price of bitcoin is really struggling to maintain the current price of $ 9k. sooner or later, the price of bitcoin will definitely increase, I believe it.

We have no guaranty that it will reach that price level, things are unclear right now many people are hoping that the price will reach the $10,500 level but look what happen we are back to $9100 from $10000 when the month started.
It's too early to tell but still the nest time to accumulate Bitcoin.

By the direction of these swings and the intensity of the swings I can say there will be a dump in pretty short period of time which is inevitable and only a pump can again start a bull market which should at least take the bitcoins price back to at least $10.5k, anything under it still won't confirm a bull market.
Twitter and YouTube are also going crazy over speculations on the future of bitcoin and many of those people say that bitcoin can also see a new ATH when the next pump starts.

[familiaverde]

 
BTC/USD Technical Analysis

Over the past week, the BTC Price has been stabilizing between 9.5K-9K. If it breaks 9.5K then it can retest 9.8K-10K. Both 9.2K and 8.5K are the Important Level.9.2K, BTC will be dumped at 8.5K if that break. 8.5K is the key level which can take correction to BTC 7.6K - 6.2K if broken

I don't really know about the technicals.  But I feel fundamentally this is the right time for Bitcoin to pickup speed and reach some good 15K levels. I mean A complete lockdown of Economy. and Yet Economy is standing pretty much intact. Once people realize that crash is incoming they will immediately take money out of the markets and the alternative best source of investment would be bullion but gold already has risen so much in past few days that buying it at this price today is not at all lucrative so remaining bet is cryptocurrencies and Bitcoin. Moreover we are yet to see the halving impact on Bitcoin price. So i pretty much feel that fundamentally bitcoin is going up for sure.

[bitgolden]

^The reason why it looks so undecided and why there is a uncertainty on bitcoin is the fact that bitcoin has been in the most stagnant period of its life probably or at least in the previous 5 years. We know bitcoin to be volatile and to be moving up and down crazy but right now for the past 1 month or so the price has been between $9k and $9.5k without changing too much, and it didn't moved between 9 to 9.5 neither, it made only a hundred dollar difference per day without changing 500 dollars a day for the past month.

This makes it a bit of a weird situation, people are not sure because they do not remember last time bitcoin was like this, and this causes people to not make any movements at all. We are living a very low volume and low liquidity period just because of this as well since people are afraid of making any moves.

[babygun]

 

^The reason why it looks so undecided and why there is a uncertainty on bitcoin is the fact that bitcoin has been in the most stagnant period of its life probably or at least in the previous 5 years. We know bitcoin to be volatile and to be moving up and down crazy but right now for the past 1 month or so the price has been between $9k and $9.5k without changing too much, and it didn't moved between 9 to 9.5 neither, it made only a hundred dollar difference per day without changing 500 dollars a day for the past month.

This makes it a bit of a weird situation, people are not sure because they do not remember last time bitcoin was like this, and this causes people to not make any movements at all. We are living a very low volume and low liquidity period just because of this as well since people are afraid of making any moves.

While the price is stagnant this last month, this has not been the first time that the price is ranging between a certain level (and it will not be the last time).
Back in the beginning of 2019, the price varied around 3100$ for a couple of months before finally going up.

It is just waiting on some big news (either positive or negative) to really see a reaction on BTC price.

[Oceat]

It seems that the price is quite stable in $9k range even if it just touched the $8k level. I think it would continue to be like this for a week then start to touch back the $8k level but of course, there's a factor that would change the outcome such as panic selling or price manipulation. July is coming and I'm sure there is another trend that's going to happen to Bitcoin that time, let's just wait and see.

I have a strong thought that next July, the price of bitcoin will reach $ 10k again. however, at the moment the price of bitcoin is indeed so close to the price of $ 8k, but the price of bitcoin is really struggling to maintain the current price of $ 9k. sooner or later, the price of bitcoin will definitely increase, I believe it.

Hopefully, that can happen in July since we will see the next month soon.
I am sure that if the price can back to $10k, we will back to make a good profit than before, and I think many people will cash out some of their bitcoin after wait for some time.
But until those days, we need to be patient because the price is back to $9k level, so maybe the price will adjust one more time before it will increase higher.
For the long term, I believe bitcoin's price will increase so high, and it will pass more than $10k.

Once again I will say it that there's another factor that would change the outcome so if you ever planning to sell next week be sure it is the right price. Don't let your hopes high if you don't see a sign that it will going to hit $10k next month because that's far from reality yet. We can't tell yet if the price would sore above $10k next month but I do hope it will then expect a price correction after that would tend to drop the price.

[traderethereum]

Once again I will say it that there's another factor that would change the outcome so if you ever planning to sell next week be sure it is the right price. Don't let your hopes high if you don't see a sign that it will going to hit $10k next month because that's far from reality yet. We can't tell yet if the price would sore above $10k next month but I do hope it will then expect a price correction after that would tend to drop the price.

I will wait for the right price or at least I want to sell if the price can touch $9,500-$10k, and I don't mind waiting for more because I am sure that the price will hit $10k next month.
Although we are still far from reality, I think besides waiting for the increases, I can try to buy and sell with a little amount and I hope that can allow me to make a profit even if that is not much.
No matter if the price will be down in the next month, in the end, the price will bounce to the high price, so that we can repay our losses, and we will make another profit.

[Paycoinzzz]

According to my analysis of economic conditions as well as based on TA, the high possibility of BTC price will drop sharply according to stock index in the US. In the United States the epidemic is likely to flare up again and it will certainly have a further impact on their economy. I believe that under such bad economic conditions, the whales will soon be able to sell off. After the epidemic has been controlled everywhere, Bitcoin halving can have an effect on its price. My conclusion in the short term is that bitcoin will test $ 8274 in the next 2 weeks.

[CoinFoxs]

Bitcoin will stay between 9.2k$ to 9.7k$ for 1-2 months and after this period we will see an increase in bitcoin’s price. It is possible that bitcoin drops to 8.5K$ before crossing 10k$ milestone which is not a difficult task. Due to pandemic businesses face financial Crises most probably by the mid of july 2020 almost all countries lift smart lockdown and after that we might see an hike in bitcoin’s price.

[elisabetheva]

Bitcoin will stay between 9.2k$ to 9.7k$ for 1-2 months and after this period we will see an increase in bitcoin’s price. It is possible that bitcoin drops to 8.5K$ before crossing 10k$ milestone which is not a difficult task. Due to pandemic businesses face financial Crises most probably by the mid of july 2020 almost all countries lift smart lockdown and after that we might see an hike in bitcoin’s price.

a very appropriate opinion, indeed so far I strongly agree that bitcoin moves between $ 9K only, for the possibility of going back down to $ 8K could happen. but keep in mind that when the momentum past $ 10K is stable enough, it is certain that bitcoin will continue to move slowly. the prediction is that when 2020 ends bitcoin will be in the range of $ 15K, then it will continue to rise in 2021. bitcoin will experience an increase that will be the same as 2017 can occur and may be able to exceed.

[ethereumhunter]

The price today is still almost the same as yesterday, and the price is not moves significant. But I think we need to wait for more because maybe this week, bitcoin price will move high. It still a mystery for us because we don't know where bitcoin price will moves. I hope the price will be stable for a while, so that can give a chance for the altcoin to increase the price. If the altcoin can not increase, then maybe the market needs to break for a while to prepare the rally.

[ultrloa]

Bitcoin will stay between 9.2k$ to 9.7k$ for 1-2 months and after this period we will see an increase in bitcoin’s price. It is possible that bitcoin drops to 8.5K$ before crossing 10k$ milestone which is not a difficult task. Due to pandemic businesses face financial Crises most probably by the mid of july 2020 almost all countries lift smart lockdown and after that we might see an hike in bitcoin’s price.

a very appropriate opinion, indeed so far I strongly agree that bitcoin moves between $ 9K only, for the possibility of going back down to $ 8K could happen. but keep in mind that when the momentum past $ 10K is stable enough, it is certain that bitcoin will continue to move slowly. the prediction is that when 2020 ends bitcoin will be in the range of $ 15K, then it will continue to rise in 2021. bitcoin will experience an increase that will be the same as 2017 can occur and may be able to exceed.

We are quite looking ahead with those figure but this year is different many struggles which creates a bad spot with investments today and bitcoin is also affected on this but I'm looking forward on the end of this crisis since if this will be stop by this year provably we will see the big potential of bitcoins in next year. Possibly it can surpass the old ATH of bitcoins if strong side will come on it.

[ene1980]

We are quite looking ahead with those figure but this year is different many struggles which creates a bad spot with investments today and bitcoin is also affected on this but I'm looking forward on the end of this crisis since if this will be stop by this year provably we will see the big potential of bitcoins in next year. Possibly it can surpass the old ATH of bitcoins if strong side will come on it.

If you are talking about the economic struggles we are yet to take a bad hit on that situation, the magical stock exchanges are still not going down which is really crazy considering the situation we are going through and hopefully we will not see a domino affect kind of situation when the entire economy crumbles one by one, everyone knows the situation is not that great but we are still expecting great things from the economy and if the market does not fall by the end of this year then we might see a rally in bitcoin.

[STT]

We've gone up and stayed above the 2 day moving average for all this week so far so there is a positive move in the short term that could develop into something more.



Just today its breaking through the weekly average so theres accumulation there.   Its reasonable to watch for strength so long as we maintain both these simple measures.

[Kong Hey Pakboy]

The price today is still almost the same as yesterday, and the price is not moves significant. But I think we need to wait for more because maybe this week, bitcoin price will move high. It still a mystery for us because we don't know where bitcoin price will moves. I hope the price will be stable for a while, so that can give a chance for the altcoin to increase the price. If the altcoin can not increase, then maybe the market needs to break for a while to prepare the rally.

Indeed. The price of bitcoin is still the same that it doesn't make any improvement to its price. It is also hard to predict what will be the next movement in the price of bitcoin because it just stays its price to $9,000. So I assume bitcoin might increase at least $10,000 before the end of the year.

[davinchi]

By the looks of it this stable situation will continue a bit longer as well, I do not really believe that we will get to see anything change that much, sure it will change a bit but since it is stable right now I think that will continue for a long time.

However, eventually when all of this is said and done, when the price starts moving again, the clear choice is definitely upwards. I mean look at all the stats and all of the news, everything looks like bitcoin will be going up, I am actually quite shocked that it hasn't been up so far, I would have expected it to be much higher by this time around. In any case, there is really not much to do now, we just have to wait and see, I have my sell orders at $12k and my buy orders at $6k, hopefully one of them eventually reaches so I can move again.