BTC Keeping it's limitaion Between 9--10K

[Lasky366]

Last time BTC is rejected from  trendline and dumped up to almost 9200.Now it is trying to break the trend line for the second time.Now if the daily candle closes on 9370 then the trend will break and 50 MA will also have a chance to breakout.
So now there is an opportunity to test 9700-9900. But if it fail to do that, there may be an chance to instant dump at 8900-9000.

Let see how this goes...

[BrewMaster]

actually what happened was last time price failed to go any lower than $8800 despite all the power that was gathered by all the dumpers and it jumped back up to $9000 and continued rising and now it has reached higher levels which may continue rising or not.

reaching $10k and not breaking it won't change anything and will not mean fast drop to whatever lower price. it simply means the same repeated pattern will repeat again and again until it breaks out and reaches $13k.

[Lasky366]

BTC Looks in short term bullish.Trendline and 50 MA Already breaked out.
BTC Price Breaking 9550 level  can hit 9700-9800 level.  Heavy residence of 9750 can take Pull back from here to 9200-9300.Let's see what happens


Always do your own research and open position after confirmation!

[sana54210]

I read there are crypto related social media challenges are going on viral. So, it seems there are plenty of chances for new crypto adopters and investors even with least capital; by considering the userbase of social media, we can expect them to bring some changes in cryptocurrency market trends. (This must be one of the consequence of pandemic and isolation boredom, let's wait and watch where these hype leads to and ends.)

Bitcoin is exactly following its traditions like just after the halving it remains calm and then slowly will accelerate toward the ATH by Christmas/New Year times. It seems everything is going to be a copy-cat from 2016's halving times into current markets. From this I am expecting the biggest psychological barrier which holds for 2 months may get broken this time, as market may set a new high above $14k levels for the first time since July 2019.

So, probably no more range bound between $9k to $10.4k. Get ready to experience new high of 2020 regardless of pandemic chaos.

[hulla]

I read there are crypto related social media challenges are going on viral. So, it seems there are plenty of chances for new crypto adopters and investors even with least capital; by considering the userbase of social media, we can expect them to bring some changes in cryptocurrency market trends. (This must be one of the consequence of pandemic and isolation boredom, let's wait and watch where these hype leads to and ends.)

Bitcoin is exactly following its traditions like just after the halving it remains calm and then slowly will accelerate toward the ATH by Christmas/New Year times. It seems everything is going to be a copy-cat from 2016's halving times into current markets. From this I am expecting the biggest psychological barrier which holds for 2 months may get broken this time, as market may set a new high above $14k levels for the first time since July 2019.

So, probably no more range bound between $9k to $10.4k. Get ready to experience new high of 2020 regardless of pandemic chaos.

The crypto social media challenge gains a lot of awareness because a lot of people have lost their job with the include of boredom but i don't see it as the reason for the current uptrend market cause only the coin that host the contest would be influence by the hype and i don't see the market breaking the psychological barrier you said or reach $14K price this month/Q4 if we put into consideration the damage done already by the pandemic which is also one of the major things that will impact the market despite the market is full of possibilities.

With what I'm seeing here some people are already cashing out their profit.

[Mahanton]

Last time BTC is rejected from  trendline and dumped up to almost 9200.Now it is trying to break the trend line for the second time.Now if the daily candle closes on 9370 then the trend will break and 50 MA will also have a chance to breakout.
So now there is an opportunity to test 9700-9900. But if it fail to do that, there may be an chance to instant dump at 8900-9000.

Let see how this goes..

We are still hovering in 9200+ price. It did able to go in 9400 but it didnt able to sustain its movement and now it do lose up its momentum on at least touching up the resistance.
For now i do see that the price might be stagnant for a while before some re-test would happen. Dumping to 8.9 to 9k isnt really that far though and can happen on next
days to come but who knows? We are keen on technical stuff but we know that precision is always be on question.

[coinfinger]

i don't see the market breaking the psychological barrier you said or reach $14K price this month/Q4 if we put into consideration the damage done already by the pandemic which is also one of the major things that will impact the market despite the market is full of possibilities.

If there were no pandemic fall down by March month then probably we might be trading near ATH, who know? People do move the psychological barrier toward $11k levels as first speculators indicated $10k as the stronger resistance due to psychological reasons and when market traded above $10k for 2 to 3 days and came down, they shifted the psychological resistance into $10,500 levels. If markets test $10,600 and then come back then people will assume $11k needs to break to assume about bullish market, right?

With what I'm seeing here some people are already cashing out their profit.

Some may exit and some may enter afresh. All markets do experience that and in my opinion, we never need to bother them. You agree or not, BTC stays stronger and may move into moderate bullish mode at any time.

[Wilhelm]

My experience from the last time this happened it went sideways for very very very very long.
Low volume, no enjoyment whatsoever.....

[osasshem]

From my point of view, I think if the price of bitcoin gets low as $8k, it will have the strength of bouncing back up, but if it goes high as $10k+ it will have a serious effect, as dumpers will want to use the chance to make profit. This also will be a big move for the whales, to make more profits. I think it is okay if for ow it settles withing this range, and see some good moves that will improve the market and also increase the demanddemand. Otherwise, this might take a long time in this price range.

[Oceat]

Last time BTC is rejected from  trendline and dumped up to almost 9200.Now it is trying to break the trend line for the second time.Now if the daily candle closes on 9370 then the trend will break and 50 MA will also have a chance to breakout.
So now there is an opportunity to test 9700-9900. But if it fail to do that, there may be an chance to instant dump at 8900-9000.

Let see how this goes..

We are still hovering in 9200+ price. It did able to go in 9400 but it didnt able to sustain its movement and now it do lose up its momentum on at least touching up the resistance.
For now i do see that the price might be stagnant for a while before some re-test would happen. Dumping to 8.9 to 9k isnt really that far though and can happen on next
days to come but who knows? We are keen on technical stuff but we know that precision is always be on question.

In my recent experience, Bitcoin did move back and forth at the price of below $10k, I don't know if it touches back to $10k. I'm tired of looking everyday so I stopped since the price is always running from $9k to $10k it doesn't even get back to touch the $15k which is I've waited for too long. Well, I guess that would happen only during bull market which is I am expecting that will going to happen next year.

[Oasisman]

With what I'm seeing here some people are already cashing out their profit.

Some may exit and some may enter afresh. All markets do experience that and in my opinion, we never need to bother them. You agree or not, BTC stays stronger and may move into moderate bullish mode at any time.

There were reports I've bumped into the internet that Bitcoin is lossing popularity since the peak in 2017. That is based on the numbers of followers on cryptocurrency related tweets on twitter. I'm not sure if this made some impact, but I think we're still good at the current price movement.
One thing is for sure, this pandemic somehow made a slight effect on the crypto market, and I guess it's also one of the many reasons why Bitcoin deprived to break the psychological resistance level.

[Lasky366]

Well now there is a Long(Buy) opportunity!

Now if 4 hour candle goes above 9250 level & close that level then 3 white soldiers can bee seen.Also there is a possibility to test 200 MA daily moving average if it touch 9340-9400 level.

[Lasky366]

$BTC Daily Update

BTC took a rejection right of the Daily Pivot Point.

We now at the Support Cluster (Support Trendline of an Ascending Channel + Mid Line of the Descending Channel). It's an important point to be held, as if we lose this area we will change the Mid-Term Trend.

[minairia3]

Well now there is a Long(Buy) opportunity!

Already set at 9143, will see how it goes, but I am always closing position at least 200 to 300x with a take profit. Do you think it would go down than 9k? Hope not, my set is not that big, so my liquidation is just close. Really taking risk here for 100x leverage.

There were reports I've bumped into the internet that Bitcoin is lossing popularity since the peak in 2017. That is based on the numbers of followers on cryptocurrency related tweets on twitter. I'm not sure if this made some impact, but I think we're still good at the current price movement.

Maybe its true, but if we based it on technical charts, there is no way it can go down fast as it average not distancing on a particular level. But sometime fundamentals analysis greatly influenced so Im not sure what to follow anymore.

[teosanru]

$BTC Daily Update

BTC took a rejection right of the Daily Pivot Point.

We now at the Support Cluster (Support Trendline of an Ascending Channel + Mid Line of the Descending Channel). It's an important point to be held, as if we lose this area we will change the Mid-Term Trend.

Hey Just a pro tip. Instead of going at the naked chart why don't you take some indicator handy. I mean if you could put up a RSI or MACD alongside this you could further get some clarity regarding the probable momentum at this point?
Maybe even a volume analysis could help? i feel that it's long consolidation around this point so you could easily expect a lower RSI here below the oversold area. If this is the case BTC could breakout in upward direction.

[Ridwan Fauzi]

I have more expectation at that time because as you say if bitcoin break the trendline then we will see bitcoin price going up to $9700 but it was just a trap and I lost my money at that time. I forgot to wait for the next candle (confirmation) and I just entry when the candle broke the trendline. Seeing some information in several media stock market is falling as well due to coronavirus again and I just think that it will take a long time for bitcoin price goes to $10.000 again.

[sheenshane]

There were reports I've bumped into the internet that Bitcoin is lossing popularity since the peak in 2017. That is based on the numbers of followers on cryptocurrency related tweets on twitter. I'm not sure if this made some impact, but I think we're still good at the current price movement.

Maybe its true, but if we based it on technical charts, there is no way it can go down fast as it average not distancing on a particular level. But sometime fundamentals analysis greatly influenced so Im not sure what to follow anymore.

Because of the fact that either fundamental or technical analysis won't give an accurate result. In forecasting, the price of Bitcoin will remain speculations to me and we even don't know what exactly happens or where the price headed at.

Indicators like what OP showed will also help but we can't fully rely on this. Every one of us can draw and flatten the previous chart in Bitcoin price and share our prediction. Usually, I'm particularly considered through the news and event that might have an impact to the price.

[exstasie]

Now if the daily candle closes on 9370 then the trend will break and 50 MA will also have a chance to breakout.

I don't know how significant the 50-day MA is at this point.

I had been watching it closely because between November 2019 and May 2020 it was a perfect trend indicator. A candle close above or below the MA predicted the mid-term trend perfectly. See the 2 red hammers and 2 green rockets for examples:



But see the price action inside the yellow box? Since June, we've had 4 fake outs above or below the 50-day MA. The market just isn't reacting to it anymore.

Everyone is waiting for a sustained structural breakout, and honestly that probably won't happen until the stock markets make a decisive move.

[Cherylstar86]

I have more expectation at that time because as you say if bitcoin break the trendline then we will see bitcoin price going up to $9700 but it was just a trap and I lost my money at that time. I forgot to wait for the next candle (confirmation) and I just entry when the candle broke the trendline. Seeing some information in several media stock market is falling as well due to coronavirus again and I just think that it will take a long time for bitcoin price goes to $10.000 again.

Even if corona virus still didn't exist, Bitcoin doesn't perform that much since 2019. Though everyone expected that it would reach up to $20k last year and for the first month of 2020 but if failed due to start of pandemic. We should accept this fact that the entire year has no great impact on businesses, much more with cryptocurrency's economic growth.

[Baofeng]

My experience from the last time this happened it went sideways for very very very very long.
Low volume, no enjoyment whatsoever.....

I agree, but we don't need to be bothered by this long sideways and somewhat boring trend. This is just the normal cycle of any assets, bubble then it will be burst, and that's why there are those people who says that bitcoin market has a 4 year cyclical pattern, although this can be disputed as there are no big data to support this theory. This is just a consolidation to me the post-halving.