Is Bitcoin Looking Bullish now?

[Lasky366]

Technical Analysis Over BTC

Previously BTC did not break the Resistance Zone around 9.325$, which led to the decline and denied our long setup. Now we have an Ascending Channel at 1H and BTC is retesting the Pivot Point. If there is a confirmed breakout of this point will look for a long position. Also consider an option with a retest of the Lower Boundary before we go upward.

Overall locally BTC has a bullish priority as an Ascending Channel, the priority will stay that while we keep inside of this formation.

[Wysi]

Appreciate your efforts in showcasing this but we need to refrain making any investment into BTC as of now because world's economy is at brink of collapse and this can send Bitcoin crashing anytime so it's better to stay neutral at this moment, we will be able to make a proper prediction only post this pandemic when dust settles.

[TravelMug]

Appreciate your efforts in showcasing this but we need to refrain making any investment into BTC as of now because world's economy is at brink of collapse and this can send Bitcoin crashing anytime so it's better to stay neutral at this moment, we will be able to make a proper prediction only post this pandemic when dust settles.

It's really up to you whether you can take the risk to invest right now in this pandemic. I agree that the crisis has really affected us,  But you can't say to us that we need to refrain from investing.

There are still people that are going to bitcoin, whether we are in a pandemic or not. And others are hedging their wealth to bitcoin as well, so there's nothing wrong.

As to the OP TA, we will see, right now the volume are low and the price is trading sideways so it's not as bullish as we think.

[Lasky366]

Quick Update Over BTC.

Due to the Big Scam was set up on Twitter, which went very public we might have BTC to shake out.

Now it follows my initial plan, but sure I am ready to switch sides or just to be out of BTC for some time.

Never send the money to giveaway scams.

[btc78]

Technical Analysis Over BTC

Previously BTC did not break the Resistance Zone around 9.325$, which led to the decline and denied our long setup. Now we have an Ascending Channel at 1H and BTC is retesting the Pivot Point. If there is a confirmed breakout of this point will look for a long position. Also consider an option with a retest of the Lower Boundary before we go upward.

Overall locally BTC has a bullish priority as an Ascending Channel, the priority will stay that while we keep inside of this formation.

I don't think it is,Look at the  market https://coinmarketcap.com/

Seems Bitcoin staying in position like $9,000- $ 9,300 and not going to anything possible now.

Maybe in the next month who knows?

But at leas t thanks for sharing as i am seeing you posting many good thread and positive thoughts towards Bitcoin and other alts.

[maydna]

Since a few days ago, bitcoin is not moving anywhere. The price tends to become stable this month, but we might see something in the next month as we see the bitcoin still too volatile, and it is hard to predict where bitcoin price will go. The price is up and down without notice, and that makes us careful to decide. If we doubt where bitcoin price will move, perhaps, we can stop trading for a while, but we can watch and analyze the price and the trend, so we can get more sign to decide. I think the price will not move too far for the rest of this month because if the price is down or up, the movements are not drastically, but the move will be step by step.

[sunsilk]

Quick Update Over BTC.

Due to the Big Scam was set up on Twitter, which went very public we might have BTC to shake out.

Now it follows my initial plan, but sure I am ready to switch sides or just to be out of BTC for some time.

Never send the money to giveaway scams.

It didn't do much with the price fluctuation and I think bitcoin is getting stronger this time. Unlike before when there were negative news like massive hacks which can also be compared with this massive twitter scam, bitcoin plummets quickly.

But look, it's hovering to $9149 - $9200 and we've seen it dropped to $9000 for less than 2 weeks.

[Sebas.tian]

Definitely, we would have see another bullish momentum from Bitcoin;  if the recent hack wasn't carried out by these hacker's on tweeter accounts holders. With this happenings, the price of Bitcoin is likely to drop again from next week and this could lead the price of Bitcoin down to $8000. Although, the beauty of this could land bitcoin into bullish in short time.  Maybe Jack(CEO tweeter) as a strong bitcoin enthusiasts, may have something we can't imagine but let wait for this.

[YuginKadoya]

Maybe and maybe not, we can not assume that it will eventually begin to be bullish if we suddenly see an upward spike because we are still in the midst of Pandemic but however this is a great analysis in your part and this may give a positive vibe to every people waiting for a good sign mostly Holders,

In my take with the movement of Bitcoin, I think we are in a good position in taking the leap when the Pandemic is over but this price of Bitcoin is still good in my opinion and I am still expecting a sudden correction that may happen.

[sana54210]

It is getting ready to be bullish but due to slow economy condition of most counties, I guess it is getting delayed; surprisingly this pandemic made bitcoin too stable for the first time in history, it seems . I have come across many technical analysis within last 5 days which are all say same thing like possible bull market in coming days but today also bitcoin failed to hold but somehow managed to stay above $9000 through out the day.

Not sure how long we are going to see bitcoin to be trading in $9000ish levels; may be the confirmed news about arrival of covid19 vaccine may end up this frustrations. I am not going to open any long orders until bitcoin prices break and hold above $10,600 levels but definitely will short whenever prices test above $9500 levels. Nowadays, I started to try riding on every swing, it is interesting and profitable as well.

[Lasky366]

Update

As I expected BTC made a move. However it did not follow my initial plan and took a retracement of the 9.195$ Resistance with a subsequent breakout of an Ascending Channel.

Currently watching for the 9.020$ Horizontal Support Zone, if the one gets crossed, then short will be in first priority.

[Fundamentals Of]

Currently watching for the 9.020$ Horizontal Support Zone, if the one gets crossed, then short will be in first priority.[/size]

There is still a high probability that Bitcoin is gonna fall below $9,000 right? And even reach as low as $8,500 or somewhere around that price?

So for now the market is not really bullish. I think there will still be more downward movement before Bitcoin will bounce back and break $10,000 once more.

[kentrolla]

I don't think the price of BTC will go up now, after the Twitter hack the major shock was about Bitcoin hacking and many of them will loose faith now, how can one Invest if there is some serious thread?

Also just a temporary pump will not be considered as the price will go up, apart from that this pandemic has caused a major stir among everyone so I guess it will take more time to see some changes in the BTC price.

[SARA ISLAM]

In my opinion, Bitcoin has lost its bullish power, rushing downwards touching the previous high. Breaking the bottom trendline seems to be going down a lot, the target price is 8700. Then maybe come to an uptrend.

[Oasisman]

Currently watching for the 9.020$ Horizontal Support Zone, if the one gets crossed, then short will be in first priority.[/size]

There is still a high probability that Bitcoin is gonna fall below $9,000 right? And even reach as low as $8,500 or somewhere around that price?

So for now the market is not really bullish. I think there will still be more downward movement before Bitcoin will bounce back and break $10,000 once more.

Very high chance for Bitcoin to go below $9,000 level, since the price doesn't seem to be in an increasing trend.
It even touches $8,900 level but still managed to close out at $9,000. So, I don't think there will be an ascending  motion from the chart in the coming days since I didn't see any bullish fundamentals, specially now that the massive twitter high profile hack involving Bitcoin scam just happened. Some predicted that It will make a negative impact to the Bitcoin price.

[hulla]

Definitely, we would have see another bullish momentum from Bitcoin;  if the recent hack wasn't carried out by these hacker's on tweeter accounts holders. With this happenings, the price of Bitcoin is likely to drop again from next week and this could lead the price of Bitcoin down to $8000. Although, the beauty of this could land bitcoin into bullish in short time.  Maybe Jack(CEO tweeter) as a strong bitcoin enthusiasts, may have something we can't imagine but let wait for this.

We have not reached the bullish season mate and if the hack issue didnt happen there won't be any bullish as you presume but only a slightly uptrend season because the market seems to maintain/revolving around the price range of $8800-$9500. However, i don't see any reason why the twitter hack issue will affect the price of the bitcoin market as most people think because the vulnerability happens from twitter end.

[Jating]

Definitely, we would have see another bullish momentum from Bitcoin;  if the recent hack wasn't carried out by these hacker's on tweeter accounts holders. With this happenings, the price of Bitcoin is likely to drop again from next week and this could lead the price of Bitcoin down to $8000. Although, the beauty of this could land bitcoin into bullish in short time.  Maybe Jack(CEO tweeter) as a strong bitcoin enthusiasts, may have something we can't imagine but let wait for this.

We have not reached the bullish season mate and if the hack issue didnt happen there won't be any bullish as you presume but only a slightly uptrend season because the market seems to maintain/revolving around the price range of $8800-$9500. However, i don't see any reason why the twitter hack issue will affect the price of the bitcoin market as most people think because the vulnerability happens from twitter end.

Regardless of the hacks? I don't think that we are going to be in the bullish market. On the contrary, we see some slight dip during the twitter hacking news, but still not enough to bring the price to sub $8K.

I agree that the twitter incident won't affect bitcoin per se, but we all know how powerful media is, they scan spin it to look like bitcoin is being used by the criminals. But look at the long term, we might see some bullish signals if we enter the last quarter of this year.

[GreatArkansas]

For me, I'm bearish for short term here. Multiple higher lows since June.
Expecting some wicks to $ 8xxx. It can happen anytime these days.
But on bullish part, breaking $9,4000 could be a significant for Bitcoin. Especially the RSI is still neutral, not oversold and also not over bought.

[Fundamentals Of]

Currently watching for the 9.020$ Horizontal Support Zone, if the one gets crossed, then short will be in first priority.[/size]

There is still a high probability that Bitcoin is gonna fall below $9,000 right? And even reach as low as $8,500 or somewhere around that price?

So for now the market is not really bullish. I think there will still be more downward movement before Bitcoin will bounce back and break $10,000 once more.

Very high chance for Bitcoin to go below $9,000 level, since the price doesn't seem to be in an increasing trend.
It even touches $8,900 level but still managed to close out at $9,000. So, I don't think there will be an ascending  motion from the chart in the coming days since I didn't see any bullish fundamentals, specially now that the massive twitter high profile hack involving Bitcoin scam just happened. Some predicted that It will make a negative impact to the Bitcoin price.

The price has not shown any big changes at the time when the news broke out. So I guess it won't make any significant effect on the price of Bitcoin whether in the short term or the long term.

But the TA above this post is saying the same, that the short term might see the price of BTC fall toward the $8,000 level. This is not in any way related to the twitter hack though.

[pooya87]

Currently watching for the 9.020$ Horizontal Support Zone, if the one gets crossed, then short will be in first priority.

you see, this is the problem with TA that has always turned me away from it. we draw all these lines on the charts and make a lot of analysis but in the end we keep seeing that there is no way of coming up with a prediction of how the market is going to work based on TA.
for instance here, there is nothing special about $9020 or even $9000 for that matter. price did reach $9020 and a little lower in some other exchanges but it didn't go any lower. it simply bounced back up to $9100+. shorting based on that meant losses (at least for the past 12 hours).