technical analysis of Bitcoin prices

[BTCWALK]

Frequent sales failures in stabilizing Bitcoin below $ 9,000 have attracted buyers who have been able to push the price above the 20-day moving average (EMA 20 - blue line in the picture) to $ 9,255. Vendors have defended the simple 50-day moving average (MA 50-red line in the picture) at $ 9,392.

http://s12.picofile.com/file/8402289726/BTCUSDT77_1024x487.png

If prices move down from moving averages, sellers will once again try to lower the price in the support range of $ 8,638,79 to $ 8,825. Below this area, the price drop will continue.

On the other hand, if buyers manage to raise the price above the simple 50-day moving average (MA 50-red line in the picture), the price jump will be possible up to $ 10,000. The long-term negative trend line is slightly higher than this level, so you can expect strong sellers to defend against this level. Any price break above the $ 10,000 to $ 10,500 resistance zone will be a significant event for the price, as it could stabilize an upward trend in price.

Resistances: 9,392 - 10,000 - 10,500
Support: 8,825 - 8,638,79

tnx

[Paycoinzzz]

traders tried to push the price of bitcoin to over $ 9k4 but once again they failed, and the interesting thing is that the bears tried to push the price of bitcoin to $ 8k3 but continued to fail at 2 points. Support 8k8 and 8k6 $. Is this what the whales want? they want to keep bitcoin at that price and when the 19-year-old covid pandemic is under control they will pump to $ 12k, do you think like me?

[andreibi]

Yes the resistance is there but it looks ready to break any moment. Your chart below:



And now zoom out.

[STT]

Its more of a symmetrical triangle but interesting chart anyhow.   We have broken the 50 day average again and its fair enough that if we hold above it consistently then some strength is apparent.   Whats been happening previously is just endless repeats and if anything I think we've drifted downwards and become less confident, if price makes or break the previous high so that we stop making a series of peaks that are declining then it'd go some way to improving the outlook.    Sideways fits best for the moment.

[el kaka22]

Seems your resistance level of $9392 was broken and holding around it, does it mean we are getting ready to launch toward your next resistance level of $10,000? Or do you miss another mid point here? I am expecting another pull back around $9800 levels if markets got power to pass $9500 levels from here; due to various social media hype, it seems new investors are checking crypto markets right now, it could be the reason why we are experiencing moderate bull run right now.

The good thing is, we are able to hold above $9000 levels and at the same time, it is really frustrating to experience a market like what we had by the times of 2016; even a $50 movement also seems too big right now but by the times of before pandemic we had daily $500 to $1000 movements are casual and almost everyday. I mean market's wild liquidations are missing or market is holding stronger and inching toward bullish side regardless of lack of new investors; not sure what is going on right now; but these are too boring days tbh.

[carter34]

Sideways fits best for the moment.

  The price is already trading on sideways if not for the drop felt this ending of the week. I hope we are totally going to get off the sideways when correction starts happening and taking price above $10,000 soon.

[btc_angela]

Sideways fits best for the moment.

  The price is already trading on sideways if not for the drop felt this ending of the week. I hope we are totally going to get off the sideways when correction starts happening and taking price above $10,000 soon.

It's week already since we have noticed that the price is trading sideways, there are few occasional increase, but just minor though and not enough to push to price to $10,000. And I believed that we are going to witnessed this kind of movement in the next weeks to come. It is good to see the price holding above $9,000, but everyone is hoping to see at least $10,000 again. But we can't do anything but to really want till the market gathered some momentum to break those psychological price barriers.

[Taskford]

Sideways fits best for the moment.

  The price is already trading on sideways if not for the drop felt this ending of the week. I hope we are totally going to get off the sideways when correction starts happening and taking price above $10,000 soon.

It's week already since we have noticed that the price is trading sideways, there are few occasional increase, but just minor though and not enough to push to price to $10,000. And I believed that we are going to witnessed this kind of movement in the next weeks to come. It is good to see the price holding above $9,000, but everyone is hoping to see at least $10,000 again. But we can't do anything but to really want till the market gathered some momentum to break those psychological price barriers.

It's been a long awaited event if bitcoin will comeback to that price for next week but provably this thing will never happen since the momentum when certain pumps is always been break and low dumps keep coming so for that thing we should be optimistic to see thing in positive ways since even if many people lose some hopes to see a great price changes still we have a high potential to see a great pumps specially in year 2021.

[Vatimins]

     Great point. My take on this however is that this process has already been repeating a lot of times. In fact, not only on bitcoins but also on other crypto currency out there in this industry. I really think that there is nothing we can do about it but to get used to this fact. Only the big whales make a difference which is why I think that as small fish, we should just take advantage of situations as much as they take advantage of the new comers in this industry that know less and buy then sell depending on their emotions. As much as I hate the thought of taking advantage of other's flaws, there is just no other way to gain in this industry. Sad truth :/

[Jating]

     Great point. My take on this however is that this process has already been repeating a lot of times. In fact, not only on bitcoins but also on other crypto currency out there in this industry. I really think that there is nothing we can do about it but to get used to this fact. Only the big whales make a difference which is why I think that as small fish, we should just take advantage of situations as much as they take advantage of the new comers in this industry that know less and buy then sell depending on their emotions. As much as I hate the thought of taking advantage of other's flaws, there is just no other way to gain in this industry. Sad truth :/

But we just had a movement starting this week, so I'm sure there are traders who are very excited once again that after so many weeks, we finally see some break out run. The price seems to be hovering around $9500-$9600 already and volumes are also steady claiming.

That's not a flaw, that's how the market works and that's how everyone makes money in trading. Someone is willing to sell which they think are the right place and on the other side, there is someone waiting to buy, so there's nothing wrong about that.

[jossiel]

we should just take advantage of situations as much as they take advantage of the new comers in this industry that know less and buy then sell depending on their emotions. As much as I hate the thought of taking advantage of other's flaws, there is just no other way to gain in this industry. Sad truth :/

Strong new comers will fail at the beginning but suddenly they'll learn how things go for bitcoin. Just like us, we came from that point and learned things on the way. After learning that the true potential of bitcoin hasn't been seen yet, we stick.

And the cycle goes for them as we have experienced and know the path they're taking. I'm on the middle side and I don't think that there's taking advantage that must happen on this tier, whales will do that but I don't think on our tier, we don't.

[Lanatsa]

we should just take advantage of situations as much as they take advantage of the new comers in this industry that know less and buy then sell depending on their emotions. As much as I hate the thought of taking advantage of other's flaws, there is just no other way to gain in this industry. Sad truth :/

Strong new comers will fail at the beginning but suddenly they'll learn how things go for bitcoin. Just like us, we came from that point and learned things on the way. After learning that the true potential of bitcoin hasn't been seen yet, we stick.

And the cycle goes for them as we have experienced and know the path they're taking. I'm on the middle side and I don't think that there's taking advantage that must happen on this tier, whales will do that but I don't think on our tier, we don't.

Thats how thing works from time to time and i heavily agree into your point that everyone did really start up into that phase on where we dont any have idea on what we're dealing on here.

Technicals and fundamentals all of them are needed and when it comes to price movement then its totally unpredictable yet we wouldnt know on what money is flowing inside to make the market move

and do go into a specific trend.So far on the current plotting i do have where it can possible break that 9800 resistance and might shoot up on 5 digit price.

[jossiel]

we should just take advantage of situations as much as they take advantage of the new comers in this industry that know less and buy then sell depending on their emotions. As much as I hate the thought of taking advantage of other's flaws, there is just no other way to gain in this industry. Sad truth :/

Strong new comers will fail at the beginning but suddenly they'll learn how things go for bitcoin. Just like us, we came from that point and learned things on the way. After learning that the true potential of bitcoin hasn't been seen yet, we stick.

And the cycle goes for them as we have experienced and know the path they're taking. I'm on the middle side and I don't think that there's taking advantage that must happen on this tier, whales will do that but I don't think on our tier, we don't.

Thats how thing works from time to time and i heavily agree into your point that everyone did really start up into that phase on where we dont any have idea on what we're dealing on here.

Technicals and fundamentals all of them are needed and when it comes to price movement then its totally unpredictable yet we wouldnt know on what money is flowing inside to make the market move

and do go into a specific trend.So far on the current plotting i do have where it can possible break that 9800 resistance and might shoot up on 5 digit price.

$9800 is very possible.

ETH has reached to $280 and bitcoin starts to be moving slowly and stable to $9500. At least we are good at these levels and the prices that were speculated by op such as support and resistance, they are all good prices.

[TravelMug]

^^ Currently we encountered another resistance and fall back to somewhat around $9500 so we might need to wait for $9800 to be breach again. ETH has been hype lately, with their 2.0 and testnet being deploy and with the whole Defi.

We need to wait a bit longer for that 5 digits to be breach again. It seems that we are moving in a slow pace, and so it means we have a lot of leg room to make and not those artificial manipulation and pumps.

[Oasisman]

~snip~

~snip~

~snip~

$9800 is very possible.

ETH has reached to $280 and bitcoin starts to be moving slowly and stable to $9500. At least we are good at these levels and the prices that were speculated by op such as support and resistance, they are all good prices.

$9,800 is so close and just around the corner. Btc has been showing a good upward movement from the last couple of days after hovering around $8,900 - $9,200 for almost a month.
There seems to be an increase of Bitcoin usage today as the mempool are flooded.
Nevertheless, If the gradual upward movement continues in the next coming days, rest assured Btc will touch $10,000 once again. Then let's see it from there.

[jossiel]

$9800 is very possible.

ETH has reached to $280 and bitcoin starts to be moving slowly and stable to $9500. At least we are good at these levels and the prices that were speculated by op such as support and resistance, they are all good prices.

$9,800 is so close and just around the corner. Btc has been showing a good upward movement from the last couple of days after hovering around $8,900 - $9,200 for almost a month.
There seems to be an increase of Bitcoin usage today as the mempool are flooded.
Nevertheless, If the gradual upward movement continues in the next coming days, rest assured Btc will touch $10,000 once again. Then let's see it from there.

It's about to enter $9,600 but looks hard.

$10,000 is at hand and that's expected to be in soon. Just a few more days to sleep and we will see bitcoin going back to $10,000.

^^ Currently we encountered another resistance and fall back to somewhat around $9500 so we might need to wait for $9800 to be breach again. ETH has been hype lately, with their 2.0 and testnet being deploy and with the whole Defi.

We need to wait a bit longer for that 5 digits to be breach again. It seems that we are moving in a slow pace, and so it means we have a lot of leg room to make and not those artificial manipulation and pumps.

Yes, it's struggling to get to $9,600 and I guess it has to stop there for a moment but hoping that it will suddenly break that barrier.

Edit: Just hit $9,606.

[Lanatsa]

~snip~

~snip~

~snip~

$9800 is very possible.

ETH has reached to $280 and bitcoin starts to be moving slowly and stable to $9500. At least we are good at these levels and the prices that were speculated by op such as support and resistance, they are all good prices.

$9,800 is so close and just around the corner. Btc has been showing a good upward movement from the last couple of days after hovering around $8,900 - $9,200 for almost a month.
There seems to be an increase of Bitcoin usage today as the mempool are flooded.
Nevertheless, If the gradual upward movement continues in the next coming days, rest assured Btc will touch $10,000 once again. Then let's see it from there.

Its 9700 as of this moment and reaching or moving 100 dollars more wont really take too much time but if the price would held strong and continue to gradual increase then reaching it or breaking 10k wont really be too long and this had been anticipated and been waited by majority.

For now lets not hurry and just wait up for the right time and making out trading decisions carefully because we know that breakouts and traps can happen most of the time if we are that too careless.

There are lots of analysis floating around and it isnt bad to look for some preference and nitpicked to be included into your own analysis.

[Oasisman]

~snip~

For now lets not hurry and just wait up for the right time and making out trading decisions carefully because we know that breakouts and traps can happen most of the time if we are that too careless.

Judging on the current price movements, If Btc will rise pass $10,000, I doubt there wont be any breakout. Quick sellers and short traders are always on the look. There might be a short pullback but there will be no bulltrap either. Just a short movements.
Trading decisions are always critical, not unless If you have set up everything, from buying to selling ranges.

[TravelMug]

^^ Currently we encountered another resistance and fall back to somewhat around $9500 so we might need to wait for $9800 to be breach again. ETH has been hype lately, with their 2.0 and testnet being deploy and with the whole Defi.

We need to wait a bit longer for that 5 digits to be breach again. It seems that we are moving in a slow pace, and so it means we have a lot of leg room to make and not those artificial manipulation and pumps.

Yes, it's struggling to get to $9,600 and I guess it has to stop there for a moment but hoping that it will suddenly break that barrier.

Edit: Just hit $9,606.

And now it gets more interesting, been out a couple of days and surprise, surprise we're now @$11k and it seems this is a break out and the leg room that I'm talking about.

And we are in the last week of this month, very cool to see that we are heading in a positive direction and it's going to be prediction time for the end of the year's price. If this real bull run, easy $15k can be touch before at the end of year.

[Kemarit]

~snip~

For now lets not hurry and just wait up for the right time and making out trading decisions carefully because we know that breakouts and traps can happen most of the time if we are that too careless.

Judging on the current price movements, If Btc will rise pass $10,000, I doubt there wont be any breakout. Quick sellers and short traders are always on the look. There might be a short pullback but there will be no bulltrap either. Just a short movements.
Trading decisions are always critical, not unless If you have set up everything, from buying to selling ranges.

Quick seller will almost be present in the market, just like we have seen today, we have a massive spike, went as high $11,300 short sellers liquidate pulling the price down to $10,990 and then went up again to $11,200. So what it means that there are more buyers obviously, so we won't fell that short day traders and they could easily get REKT in a bullish run.

So pullback is negligible and I think there will be more FOMO in the next coming days to push it to $12,000 at least.