BTC Current Bullish & Bearish scenario

[Lasky366]

Bullish scenario :

Looking at the current situation of btc it can be said that, BTC is pretty much close to breakout. If it break the level of 9270, there is a chance to start a rally to upwards.My  Target level is 9400-9600-9800 Price.Even possible to touch 10k above.But that won't be stable.


Bearish scenario :

BTC Price critical support level is now $ 9000. If it is broken, the price will be dumped up to $8700-$8500. However, the key level is now 8500 $. If it is broken out it can test up to $6000.


In essence,

BTC has been moving sideways movement for the last few weeks, so there is a idea is that BTC can take a big move at any time soon. After a small pump on the Upside Short Liquidate is more likely to take a big movement on the Downside.


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[crwth]

Thanks for sharing this. I'm quite on the bearish side in this market currently unless we break out key resistances and then possibly bullish scenario for me. I have a short position now that I've been waiting to be closed too and make some profit. Hopefully soon, lol.

Anyways, it's quite hard to read your topics, especially in the linked speculations that you posted. All of it are good, it's quite hard to read due to the different colors and font sizes. That's just my opinion on it.

Good luck with your trading!

[Upgrade00]

Due to the fundamental changes (such as the massive scale purchases of newly mined coins), I'm bullish in the long-term, the price could likely pump or dump intermittently over the next days or weeks, but this should be leading up to a higher push in the price into a new resistance and support range.
I agree with crwth, some of the colour changes makes your text difficult to read. Using black text except when another colour is necessary is usually better.

[Lasky366]

Ok cool!  I see, I need stop giving color in my texts. Actually in dark mode in browser it's not so difficult. Btw thanks for your suggestion I am changing my colors & better I am keeping my writing in more natural.

[royalfestus]

The side way movement is over a month now and everyone expect a spark either to dump or pump price. ATM whichever way it goes unarguably bitcoin still remain bullish in the longterm. Sometimes I feel the pandemic is responsible for the sideway but the market recovery from the march dump is in this economic situation and everyone still holding. The volume in the market still look low for any positive prediction but the Q4 could be better.

[okala]

I believe that for some of us that has been into cryptocurrencies for sometime now will no that most time July and August has been a quiet time and this year is not going to be different. Bitcoin might began to create the next new direction from September or even November this year as it has been happening in the past.

[Kemarit]

I believe that for some of us that has been into cryptocurrencies for sometime now will no that most time July and August has been a quiet time and this year is not going to be different. Bitcoin might began to create the next new direction from September or even November this year as it has been happening in the past.

I'm also expecting that the last quarter of this year will give us a good price boost. But I'm not surprised that we have been in the somewhat 'middle' ground, neither bearish or bullish, just side way patterns for weeks now.

And this is also an eye opener, specially those new to the market and think that the price is volatile. Throughout bitcoin's history, there are patterns as well that the price will remain relatively stable for some time before making a break out run.

[buwaytress]

Valid points, but they've been valid for a pretty long time now I'd say. I'm almost ready to say to the bears to like come at us all now and do your worst! Or for the pending crash to just get over and done with so we can all pick up the pieces and map the way forward.

I'm actually patient, though. Just antsy at the lack of direction.

[fabiorem]

Last few weeks? Last few months, you mean.
Bitcoin is moving sideways because its hibernating, which is the most clear evidence of a permanent bear market.

[dragonvslinux]

My thoughts exactly, from a similar perspective, a big break is coming in one way or another...

   

Currently remaining neutral until confirmation, while having a slightly bearish bias

[Lasky366]

Last few weeks? Last few months, you mean.
Bitcoin is moving sideways because its hibernating, which is the most clear evidence of a permanent bear market.

Few weeks or few months in writing doesn't make too much difference in naked eye folks.

breakout of key level might became a case for huge dump & will take some  time to recover.However I didn't mentioned any parmanent dump in chart.

[pooya87]

If it break the level of 9270, there is a chance to start a rally to upwards.My  Target level is 9400-9600-9800 Price.Even possible to touch 10k above.But that won't be stable.

can we even call 1.4% to 5% a rally in bitcoin? i don't think so. and so far nobody ever considered these tiny movements a rally specifically when they are below a major resistance which is the $10k mark.

the key level is now 8500 $. If it is broken out it can test up to $6000.

there is a gigantic space between $8500 and $6000 (30% drop from $8500 and 36% from the top) not to mention that there are multiple much stronger resistances between these two prices.
it is also interesting that you think the rise from $9270 to $10000 is this hard and even if it happens it would be "unstable" and at the same time you think such a gigantic drop to $6k is this easy!!!

[Lasky366]

If it break the level of 9270, there is a chance to start a rally to upwards.My  Target level is 9400-9600-9800 Price.Even possible to touch 10k above.But that won't be stable.

can we even call 1.4% to 5% a rally in bitcoin? i don't think so. and so far nobody ever considered these tiny movements a rally specifically when they are below a major resistance which is the $10k mark.

the key level is now 8500 $. If it is broken out it can test up to $6000.

there is a gigantic space between $8500 and $6000 (30% drop from $8500 and 36% from the top) not to mention that there are multiple much stronger resistances between these two prices.
it is also interesting that you think the rise from $9270 to $10000 is this hard and even if it happens it would be "unstable" and at the same time you think such a gigantic drop to $6k is this easy!!!

Both I mentioned because it current scenario to me yeah I made slight mistake but sorry for that however that won't make too much difference. When you seeing the just avoid some grammatical mistakes it would be better.

It's not easy but where were you when bitcoin  dumpped 10000$ to 4000$? This Match.  it's cryptocurrency so anything possible. Just watch & enjoy if you don't have to do anything.

[Lucius]

I can understand that for someone TA (technical analysis) is a way of trying to predict what will happen in a week, a month or as it is usually said in these analyzes that something is very close, or that it will happen sooner or later. Well of course something will happen sooner or later, it makes sense in every market - the price of Bitcoin will not stay between $9k and $10k forever, but this fact is something that is well known to everyone who has been following Bitcoin for years.

It's not easy but where were you when bitcoin  dumpped 10000$ to 4000$? This Match.  it's cryptocurrency so anything possible. Just watch & enjoy if you don't have to do anything.

Where were you when the BTC dumped from $1200 to under $200 in 2015 - or from $20 000 to $3000 in 2018? But these were all specific periods, as the drop from $10k to $4k in March happened for declaring of a pandemic. Anything is possible in the crypto world, but there is always a reason why something happens - and at this time of year nothing usually happens, and so it can stay for a few more months.

[slapper]

Thanks for sharing your opinion about bitcoin. Both scenarios are good for all of us, especially who want to make some profit with this trade.

Triangle is shaping but there is still not evidently sight showing that bitcoin will go up or go down. Both forces are showing their weakness and no one wants to make their first move. There is a high chance that we will see this sideway pattern for at least a month. According to my fundamental analysis, bitcoin will go up no matter what. We just still don't know when it will break the $10000 resistance yet

[LUCKMCFLY]

Right now there is an issue that may cause a major movement, the massive purchase by the USDT whales, it is likely that they are buying and then switch to Bitcoin, is it that a next Bullish movement is forming? Bitfinex may be the Exchange where this occurs, of course it is speculation, but it is very likely due to the latent lateralization of the market.

[Lasky366]

I can understand that for someone TA (technical analysis) is a way of trying to predict what will happen in a week, a month or as it is usually said in these analyzes that something is very close, or that it will happen sooner or later. Well of course something will happen sooner or later, it makes sense in every market - the price of Bitcoin will not stay between $9k and $10k forever, but this fact is something that is well known to everyone who has been following Bitcoin for years.

It's not easy but where were you when bitcoin  dumpped 10000$ to 4000$? This Match.  it's cryptocurrency so anything possible. Just watch & enjoy if you don't have to do anything.

Where were you when the BTC dumped from $1200 to under $200 in 2015 - or from $20 000 to $3000 in 2018? But these were all specific periods, as the drop from $10k to $4k in March happened for declaring of a pandemic. Anything is possible in the crypto world, but there is always a reason why something happens - and at this time of year nothing usually happens, and so it can stay for a few more months.

I guess you are little more right but I think you also know that whales can do whatever they want by just for simple matter so that's why crypto market is so much  volatile. Anything possible anytime.

[palle11]

Where were you when the BTC dumped from $1200 to under $200 in 2015 - or from $20 000 to $3000 in 2018? But these were all specific periods, as the drop from $10k to $4k in March happened for declaring of a pandemic. Anything is possible in the crypto world, but there is always a reason why something happens - and at this time of year nothing usually happens, and so it can stay for a few more months.

I think in the history of bitcoin to my knowledge, the drop of bitcoin after the classical ATH from 20,000 to 4,000 is the highest and that which people still relate with. Some people thought at 20,000 , price would fly more, they bought and price started to drop.
As for the current happenings now, I'm not expecting a huge drop for long because price will soon go above 10,000.

[barbara44]

I feel like bitcoin has always runs between that line of being bullish and bearish, there is really nothing to be done about it and that is why I believe that we would basically be living in the moment and without actually knowing whats going on or what will happen in the future. However that is the good part of the bitcoin world, you get to try and learn and get better, you get to share stuff, you get to laugh about it with friends and you just basically make it a hobby most of the time as well.

This is why in the end we are not going to just see bitcoin move up or down and when we see it it is going to be way too late and that is why we will not be able to make a move on it because it will be too late. It is just a different situation, we have to basically be very careful.

[Cherylstar86]

Where were you when the BTC dumped from $1200 to under $200 in 2015 - or from $20 000 to $3000 in 2018? But these were all specific periods, as the drop from $10k to $4k in March happened for declaring of a pandemic. Anything is possible in the crypto world, but there is always a reason why something happens - and at this time of year nothing usually happens, and so it can stay for a few more months.

I think in the history of bitcoin to my knowledge, the drop of bitcoin after the classical ATH from 20,000 to 4,000 is the highest and that which people still relate with. Some people thought at 20,000 , price would fly more, they bought and price started to drop.
As for the current happenings now, I'm not expecting a huge drop for long because price will soon go above 10,000.

I felt so intense right now because of bitcoin's unpredictable behavior, and same with previous trend experienced last year, bearish market will tend to repeat itself. There's always a possibility that sudden price crash will randomly initiate if ever panic happens unexpectedly. Everyone should be prepared enough to face that reality, and don't ever be emotional on those potential scenarios.