BTC Current Bullish & Bearish scenario

[STT]

So far todays action is bearish because its showing as lower then the last peak.   If it can build from here and maintain a higher price then its worth considering otherwise but I cant take it as that yet.  I keep thinking its putting in more backing to the ceiling rather then support, of the two scenarios that will make price easier to break downwards rather up presuming its following a logical course; a big ask most of the time

[Yaunfitda]

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.

You don't need to be intense as the market has pick up today, it's good to see the price hitting at least $9300 after more than a month of no other or just sideways trading. I do hope that it will maintain at this level and see another run to $9500. And that price will be the big hurdle that we need to get over. I'm not seeing any random price crash, I think we already get over it specially after the pandemic scare has settle down a bit for now.

[pooya87]

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.

well i disagree with that but if you think that is true then we are back at what i pointed out in my previous comment, your leaning towards a very big drop makes no sense.
if you think "whales can do anything they want" you should also think that they can equally want to "pump" bitcoin. which means saying "a tiny rise is very hard but a massive drop is easy" makes no sense.

[Hypnosis00]

I know whales are influential to the market and could make a change of its trend but it doesn't mean that they can certainly take control of the entire crypto market. Bitcoin will still remain decentralized and what whales do, it is only to manipulate our minds and think next week will pump/next week will dump.

I believe the current market situation isn't bearish nor to say also that we are in bullish, I think we are in between. The low market resistance won't make a lift of the prices and it is really hard to think the same as we are still facing a crisis today that investors are not prioritizing crypto investment than to secure their lives and healthy assurance.

[Oasisman]

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.

Currently, your TA have just predicted after breaking the $9,200 level, and is trading at $9,500 level at the time I'm writing this. Now, let's test your TA's accuracy again on the coming days If Bitcoin will rally towards a five digit figure or not.
Nevertheless, Bitcoin has been gradually increasing in a daily close out this week.

~snip~

well i disagree with that but if you think that is true then we are back at what i pointed out in my previous comment, your leaning towards a very big drop makes no sense.
if you think "whales can do anything they want" you should also think that they can equally want to "pump" bitcoin. which means saying "a tiny rise is very hard but a massive drop is easy" makes no sense.

A massive drop means massive sell out of Bitcoin, and It's indeed makes no sense if whales will dump a huge chunk of their Bitcoin possession at this current price lol.
Therefore, whales can't do anything they want, but they can somehow do something to acquire what they want 

[ene1980]

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. 

We are reaching the levels from $9000 to around $10000 for over two months and we are yet to see a breakout in both directions. The only doubt will be if i take a position the price usually rallies and hence i am not in a mindset to take a position during a phase like this.

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.

If we touch $6000 levels it might be because of the economic situation globally and if that is the case it will take a long time for the market to recover but i am still expecting a small correction before a rally.

[Lasky366]

#Quick Update

We need to fix above the mid line of an Ascending Channel in order to continue growing, otherwise we will take a correction. As the main position is already in profit, I will consider a hedge short if we lose the mid line support.

[Lasky366]

$BTC Update

Now I have a bearish view at BTC locally. We were rejected of the Higher Boundary of an Ascending Channel and possibly we will get a Head & Shoulders. For this scenario to play out we need to receive a confirmed breakout of the 9.500$ Local Support.

Cross above the Ascending Channel will invalidate this setup.

[KnightElite]

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. 

We are reaching the levels from $9000 to around $10000 for over two months and we are yet to see a breakout in both directions. The only doubt will be if i take a position the price usually rallies and hence i am not in a mindset to take a position during a phase like this.

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.

If we touch $6000 levels it might be because of the economic situation globally and if that is the case it will take a long time for the market to recover but i am still expecting a small correction before a rally.

The price continue to consolidate and observe the wicks in the past days and weeks, the price is always resisting near resistance levels at $10,000. There will be a rally if the price managed to breakout but for me it is a major resistance so the bitcoin will have a hard time to break it.  The daily volume is still in daily average but if we see a unique and massive volume then it can be a sign that there is now a transitioning in terms of trend.

[michellee]

The price continue to consolidate and observe the wicks in the past days and weeks, the price is always resisting near resistance levels at $10,000. There will be a rally if the price managed to breakout but for me it is a major resistance so the bitcoin will have a hard time to break it.  The daily volume is still in daily average but if we see a unique and massive volume then it can be a sign that there is now a transitioning in terms of trend.

It seems, bitcoin price hard to break $9,600, and I think it is another challenge for bitcoin to surge higher. But I am sure that bitcoin price break that price and bitcoin will have a chance to go to $10k, whether it will happen at the end of this week, or another week, or even next months. The volume now looks good, so bitcoin will have more chance to increase, but we need to be more patient to wait.

[Beparanf]

The price continue to consolidate and observe the wicks in the past days and weeks, the price is always resisting near resistance levels at $10,000. There will be a rally if the price managed to breakout but for me it is a major resistance so the bitcoin will have a hard time to break it.  The daily volume is still in daily average but if we see a unique and massive volume then it can be a sign that there is now a transitioning in terms of trend.

It seems, bitcoin price hard to break $9,600, and I think it is another challenge for bitcoin to surge higher. But I am sure that bitcoin price break that price and bitcoin will have a chance to go to $10k, whether it will happen at the end of this week, or another week, or even next months. The volume now looks good, so bitcoin will have more chance to increase, but we need to be more patient to wait.

Bitcoin is still have potential to grow any time soon, it may not be the way we wanted it like it did before in 2017 but it's still showing progress and is good in doing trading. Like what it did before pandemic it reaches amount too low but after 3 months look what the price it, it goes back to it's price and rising. It just need to hold or monitored to profit from it, unlike in other top alts before BTC is still progressive and can say the price still bullish and still have chance in the future to take another level of record.

[CryptopreneurBrainboss]

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.

If we touch $6000 levels it might be because of the economic situation globally and if that is the case it will take a long time for the market to recover but i am still expecting a small correction before a rally.

I can't be that bearish to speculate on the price touching $6k especially with all the bullish news surrounding the market of recent resulting to altcoin spikes and that of bitcoin and ethereum coming days later. The lowest the downtrend can take the price without any major negative news is $8.5k.

Your bullish scenario was accurate as few days back, it broke past the $9.5k margin and a little correction fellowed but that's normal. Just curious on what the future prices holds before the years comes to an end, the Corona fud is becoming a thing of the past which opens doors to more positive opportunity for bitcoin.

So what's your bullish prediction from this point? Not much instead in bearish prediction, who cares? 🤔

[UmerIdrees]

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.

If we touch $6000 levels it might be because of the economic situation globally and if that is the case it will take a long time for the market to recover but i am still expecting a small correction before a rally.

I have some other vision on economic crisis. Economic crisis will certainly come but then people will look for safe heaven and currently there are only two safe heavens. One is Gold and the other one is Bitcoins. I can see people will be rushing in buying bitcoin at that point of time when US dollar and other currencies will be losing their value.

[Lucius]

Just curious on what the future prices holds before the years comes to an end, the Corona fud is becoming a thing of the past which opens doors to more positive opportunity for bitcoin.

I wouldn’t agree that Covid-19 is becoming a thing of the past, but that only priorities have changed since it became clear that the world could not function in full lockdown for more than a few months. The new strategy puts the economy first and then human health - although this is not something that is generally applied, most countries are moving in that direction. What is happening now is just a consequence of pumping huge amounts of money and various reliefs for the economy that is using it to get back on its feet.

Bitcoin and all other markets are currently profiting from it, but the future is still uncertain as without vaccines some countries of the world face an incredible number of infected on a daily basis (USA & Brazil). While it is very ungrateful to speculate in which direction the price of BTC will move, I think the difference of $2000 up or down should certainly be expected, not only because of the current situation, but also because of the volatility that is always present in BTC.

[FanEagle]

It is totally understandable why the world could not function properly during lockdown but that also doesn't explain why we have to accept people who do not have to go outside and allow them to go outside. Just to give an example, I do not have any reason to go outside, I do not work outside neither (freelancer) so maybe I should be capable of staying at home all day? It means governments should make me stay at home and not allow me to go outside. Of course, it is just an idea but I feel like it is totally possible.

If you do not have a reason to go outside, just stay at home. This is not something I would accept them to do for years obviously, I am sure there will be a point where we will go outside, but why don't we just do it few more months and see how little it could get? Only if we could have done it one more month.

[Yaunfitda]

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.

If we touch $6000 levels it might be because of the economic situation globally and if that is the case it will take a long time for the market to recover but i am still expecting a small correction before a rally.

I have some other vision on economic crisis. Economic crisis will certainly come but then people will look for safe heaven and currently there are only two safe heavens. One is Gold and the other one is Bitcoins. I can see people will be rushing in buying bitcoin at that point of time when US dollar and other currencies will be losing their value.

For average Joe, I don't think that we are seeing bitcoin as sort of safe haven, but more of a investment to get out and preserve the value and even get more as time goes by because of inflation. Gold though has a history of being used as leverage for many years already. That's why this pandemic also bring the best of bitcoin and really test its use case, either store of value of monetary system in this current situation we have.

[DoublerHunter]

The price continue to consolidate and observe the wicks in the past days and weeks, the price is always resisting near resistance levels at $10,000. There will be a rally if the price managed to breakout but for me it is a major resistance so the bitcoin will have a hard time to break it.  The daily volume is still in daily average but if we see a unique and massive volume then it can be a sign that there is now a transitioning in terms of trend.

It seems, bitcoin price hard to break $9,600, and I think it is another challenge for bitcoin to surge higher. But I am sure that bitcoin price break that price and bitcoin will have a chance to go to $10k, whether it will happen at the end of this week, or another week, or even next months. The volume now looks good, so bitcoin will have more chance to increase, but we need to be more patient to wait.

^ It seems we are now heading to $10K price and bitcoin has almost on $10k price. Probably you are right that we need to extend our patient because this also could may a trap that possible there is a huge correction after surging in the market. We have been observed movement like this. I am not good at technical analysis as what others do but I have oftenly read news that probably affect to the bitcoin price too not only by plotting chart.

[GreatArkansas]

https://imgbb.online/images/2020/07/24/IMG_20200724_223747_475.jpg

$BTC Update

Now I have a bearish view at BTC locally. We were rejected of the Higher Boundary of an Ascending Channel and possibly we will get a Head & Shoulders. For this scenario to play out we need to receive a confirmed breakout of the 9.500$ Local Support.

Cross above the Ascending Channel will invalidate this setup.

Bitcoin breaking above $9400 is extremely significant, especially it was around now $9400 - $9600.
I am expecting some small pullbacks this week on around $9200 - $9400. Lets hope it will not go below $9,000 so the bearish run will continue. $9000 is quite strong support now.

[bitbunnny]

The price continue to consolidate and observe the wicks in the past days and weeks, the price is always resisting near resistance levels at $10,000. There will be a rally if the price managed to breakout but for me it is a major resistance so the bitcoin will have a hard time to break it.  The daily volume is still in daily average but if we see a unique and massive volume then it can be a sign that there is now a transitioning in terms of trend.

It seems, bitcoin price hard to break $9,600, and I think it is another challenge for bitcoin to surge higher. But I am sure that bitcoin price break that price and bitcoin will have a chance to go to $10k, whether it will happen at the end of this week, or another week, or even next months. The volume now looks good, so bitcoin will have more chance to increase, but we need to be more patient to wait.

^ It seems we are now heading to $10K price and bitcoin has almost on $10k price. Probably you are right that we need to extend our patient because this also could may a trap that possible there is a huge correction after surging in the market. We have been observed movement like this. I am not good at technical analysis as what others do but I have oftenly read news that probably affect to the bitcoin price too not only by plotting chart.

Almost at 10000$ prrice but on the other hand it seems so far away. We've been.in.such situations many times and it turned out that Bitcoin is struggling hard to reach 10000$ and when it comes there corrections happen very fast so it's hard to stay at that level or even go above.
Although it looks now that price is heading towards 10000$ I'm not so sure that will actually get there.

[LogitechMouse]

~

Right now, Bitcoin retested the $9700 mark again. This can be a possibility that it can go towards the $10,000 or near it but I'm expecting for a pullback after this small pump of it.
Still the $9000 is the strong support that we are in right now and the strong resistance is around the $10,000. Either it will go break the support or break the resistance.