BTC Current Bullish & Bearish scenario

[michellee]

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.

This trend seems to be a bullish trend because bitcoin price can increase so high, and it already touches more than $10k, and the price seems stable at a price now. The price now still rises, and I see the price reach $10k again, and if this situation can stay longer, we will see a chance to break $11k. Let us see the price will increase more, and prepare your target sell price.

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.

I am glad to see bitcoin price can break $10k because that is a good sign for us to place a sell. If you still want to sell at more than $10k, you need to watch the price move and don't place the sell order at the high price if the price can not increase. But be careful because the price can go to any price without notice, so make sure you decide carefully.

[shoreno]

I am glad to see bitcoin price can break $10k because that is a good sign for us to place a sell. If you still want to sell at more than $10k, you need to watch the price move and don't place the sell order at the high price if the price can not increase.

for sure you will be glad now when you look at the charts because btc just crossed 10k u.s dollars again   . its exact value is 10,063.40 usd just now  .

whilest i dont consider this price as my selling point if i can only decide with my money but no i have my wife that also decide if what to do with my coins . we dont know if how high the price will reach , thats why its better to not set your sell order high enough that it will already look unrealistic   .

[michellee]

I am glad to see bitcoin price can break $10k because that is a good sign for us to place a sell. If you still want to sell at more than $10k, you need to watch the price move and don't place the sell order at the high price if the price can not increase.

for sure you will be glad now when you look at the charts because btc just crossed 10k u.s dollars again   . its exact value is 10,063.40 usd just now  .

whilest i dont consider this price as my selling point if i can only decide with my money but no i have my wife that also decide if what to do with my coins . we dont know if how high the price will reach , thats why its better to not set your sell order high enough that it will already look unrealistic   .

It's already happening because the price now is $10,200. And the price still increases, even the price already touches $10,300 and back to $10,200. Slowly the price will increase, and I think it's better like this, so people can manage their buy and sell order and make a profit. We need to have a target price to buy and sell so we can use the time to make a profit.

[TheGreatPython]

I am glad to see bitcoin price can break $10k because that is a good sign for us to place a sell. If you still want to sell at more than $10k, you need to watch the price move and don't place the sell order at the high price if the price can not increase.

for sure you will be glad now when you look at the charts because btc just crossed 10k u.s dollars again   . its exact value is 10,063.40 usd just now  .

whilest i dont consider this price as my selling point if i can only decide with my money but no i have my wife that also decide if what to do with my coins . we dont know if how high the price will reach , thats why its better to not set your sell order high enough that it will already look unrealistic   .

I can tell you that when a bull run starts the price tends to go up and up only until at least a few thousand dollars and I am expecting a bull run now that the market has crossed 10k mark once it will be much easier to cross higher levels because it has always been like getting stuck to a price and once it breaks the price just go bonkers. But, it is your money and if you need cash you may sell the coins, I am just suggesting that anyone who sells now might have to regret.

By the way nice you involve your wife with investment decisions but wife's tend to be more conservative so maybe she would not go for big profits.

[BrewMaster]

there is an important lesson to be learnt here and that is when bitcoin price has been down for a long time and the bear market has lasted forever that means seeing more bearish moves, specifically the big drops that OP predicted become increasingly unlikely and difficult.
meanwhile a trend change becomes increasingly easy. and now we are seeing this transition start and slowly everyone accepts that the previous trend is over and we are entering the bull market.

[bitgolden]

Looks like the bearish scenario will not happen, everyone is happy about what is going on and I feel like that will continue for a long time as well. Right now there is a hype and FOMO going on and that is a vital important thing in bitcoin world, when there is something like this going on you know that everything will be fine, you know that people will be basically watching bitcoin going up and hope that the price doesn't fall and they will be all going into bitcoin as well.

There are now corporations who are going in bitcoin, that is the real big deal, there are huge hedge funds spending tens of billions of dollars in bitcoin and considering that we as regular personal investors require to be in tens of thousands of us to reach that level these companies are great deal as well.

[michellee]

I can tell you that when a bull run starts the price tends to go up and up only until at least a few thousand dollars and I am expecting a bull run now that the market has crossed 10k mark once it will be much easier to cross higher levels because it has always been like getting stuck to a price and once it breaks the price just go bonkers. But, it is your money and if you need cash you may sell the coins, I am just suggesting that anyone who sells now might have to regret.

The bull run will continue to the other high priced, but before we see another high price, we need to accept that the price will make the correction and adjust the price and then the price will have more chance to increase higher. We already cross $10k and even $11k, and in the next month, we will cross $12 and so on until we will see the new ATH.

[pooya87]

Right now there is a hype and FOMO going on and that is a vital important thing in bitcoin world, when there is something like this going on you know that everything will be fine, you know that people will be basically watching bitcoin going up and hope that the price doesn't fall and they will be all going into bitcoin as well.

first of all there is nothing "fine" about FOMO. it is unrealistic buying and the resulting price has always been unstable waiting for a big correction.

secondly this is NOT a FOMO. if you want to see one then look at the first half of 2019 when price broke $4k resistance and it went up to $8300 and crashed -26% in one day. what we have now is still a very small and even slow rise which is about 14% whereas when you compare it with previous FOMOs they are at least 80% and up to 100% rise. the case i mentioned above is 150% and another FOMO would be the last month of 2017 where we saw a 120% rise in one month (from ~$9,000 to $20,000).

[Reatim]

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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Lucky that so far it is the Bullish that comes our way and hoping that Bearish will only drop by to correct the price so that it will be continues growing in the next months.
It has been couple of months that we stayed at below $10,000 and just now that we are gaining confidence again regarding our investments.
$8,700 would be the lowest in  bear and then will pump again to the top.

I did watch this Video and yeah we have been in Bullish situation 2 days ago

https://www.youtube.com/watch?v=0T8Yy4HP14g

But fell yesterday and now?we are back in the game greening the ranking currencies

https://coinmarketcap.com/

[STT]

Looks like the bearish scenario will not happen,

I hope more people can say this so the opposite can happen and I make a bit from shorts, a shock move down just consolidating prior action would be cool.   Always seems quite possible short term even if its rising between weeks.    However we haven't spiked interest on the google searches for Bitcoin so apparently we arent in a FOMO stage to the move where it gets really fevered, that lends favour to those who believe we have potential for much higher.



I always like a simple picture, since theres only 3 days on a daily bar chart its pretty dam simple    To stay bullish we keep this range and move past the peak, if price action is exhausted then we'll tend to test the 10900 area is my guess for a line to watch.   First we probably meet the weekend, bookend to the week and form the weekly bar.   I havent properly considered weekly bars and that perspective but just a quick look at 2019 summer peaks, we have the closing price for each week around this price formed now so we are in a place of some significance to mull over.

[Lasky366]

$BTC Update 📌

BTC established a Range between 11.330$ Resistance Zone & 10.710$ Support Zone. My plan for to work with the range is:

- First scenario, as we crossed below the mid line of the range we can go retest the support zone. In this case planning to open long, but only if there will be a confirmed retracement off the support zone.

- Second scenario takes place if we cross back above the mid line, in this case also opening long.

Breakout of the Range will define our next local priority, currently we are in a ranging market.

[RealMalatesta]

The price can't continue to sustain this increase forever without a bit of correction and drop. There are way too many people who have bought between early march and late may, those people are all in profit right now, even people up to late June and most of July are in profit right now, that means some people will eventually say this much profit is enough and they will sell their coins to realize that profit.

Obviously this won't be everyone, but the ones that does it could cause some sort of correction, with one big seller it will have a snowball type of trigger where it will lead to a lot more people to sell. However, I believe (and hope) that the correction will be a small one and it will eventually lead to some sort of recovery after the correction to even a higher level than what we are today.

[Lasky366]

My plan to long after the breakout of the Mid Line resulted in +12.1% of profit with x10 leverage. However the Main Resistance was not retested. Currently will wait for the price to interact with any key level we have (resistance - support - mid line) in order to take any action. Better to work with a bullish priority.

[btc_angela]

The main resistance now seems to be $11.8k as we have breach it already but can't sustain it obviously. The good thing is that the price doesn't decline that much and its simply staying in the $11.5-$11.7 range. But still this is bullish sign, and buying when the price goes down a bit and shorting it could be a good strategy.

[Kemarit]

The main resistance now seems to be $11.8k as we have breach it already but can't sustain it obviously. The good thing is that the price doesn't decline that much and its simply staying in the $11.5-$11.7 range. But still this is bullish sign, and buying when the price goes down a bit and shorting it could be a good strategy.

You spoke too soon, barrier now has collapse, the price goes above $12000 again. Now it's a wait and see game as we have reached a milestone. And imagine that this is just Tuesday of the current week, plenty of wiggle room to push ever further for this week.

Of course, the break out from $9000 was the key, as pointed out by several forums analyst making bitcoin and the rest of the crypto to be very very bullish No need to short as you will be really get REKT by the current movement.

[TitanGEL]

The main resistance now seems to be $11.8k as we have breach it already but can't sustain it obviously. The good thing is that the price doesn't decline that much and its simply staying in the $11.5-$11.7 range. But still this is bullish sign, and buying when the price goes down a bit and shorting it could be a good strategy.

You spoke too soon, barrier now has collapse, the price goes above $12000 again. Now it's a wait and see game as we have reached a milestone. And imagine that this is just Tuesday of the current week, plenty of wiggle room to push ever further for this week.

Of course, the break out from $9000 was the key, as pointed out by several forums analyst making bitcoin and the rest of the crypto to be very very bullish No need to short as you will be really get REKT by the current movement.

The minor resistance was been broken, look at the price of the BTC where it is now above $12,000. Look also in the RSI where it is now above the overbought signal which is at 70 where it indicates that there is a momentum. What I do not like only is the volume where the volume today is much lesser than yesterday where for me it is not good. A good breakout should have huge or spike volume but it is still beginning of the day so we should watch the price action if it is legit breakout or it is just a fake out.

If the breakout is legit then we should expect that there will be new resistance that will formed at exactly $12,300, it is just a minor support so I expect that the bitcoin can easily break it but for sure there will be a consolidation that will happen that will take days or even weeks.

[Yaunfitda]

If the breakout is legit then we should expect that there will be new resistance that will formed at exactly $12,300, it is just a minor support so I expect that the bitcoin can easily break it but for sure there will be a consolidation that will happen that will take days or even weeks.

It didn't hold ground, as it falters and decline to the support levels at $11,700. Which means this is just a fake out run or it's that we are in the overbought zone so obviously the selling pressure is there. Although it is interesting to see that over $12 million BTC shorts have been liquidated that time on Bitmex alone. So maybe there's someone playing the market again.

[bitbunnny]

The main resistance now seems to be $11.8k as we have breach it already but can't sustain it obviously. The good thing is that the price doesn't decline that much and its simply staying in the $11.5-$11.7 range. But still this is bullish sign, and buying when the price goes down a bit and shorting it could be a good strategy.

We don't have some strong corrections, although price is fluctuating all the time. In one moment it even crossed 12000$ not again pulled back below. This is still not pure bullish situation and to my opinion this will continue for a while, at this moment I wouldn't say Bitcoin is in bullish phase.

[STT]

I dont much like this price action at present, its not exploring the range as I would expect it to.    If price is constricted are we building upto something, a breakout perhaps.   Iam more bearish then that and I expect a sell but I've often been too sceptical in the past.   The exception I'll always make is if I see a bullish trend but I dont see that in play now so I assume its quite possible we recheck lower prices first and this is not the queue for a higher price just yet.

[Lasky366]

$BTC Update 📌

BTC established a Range between 11.330$ Resistance Zone & 10.710$ Support Zone. My plan for to work with the range is:

- First scenario, as we crossed below the mid line of the range we can go retest the support zone. In this case planning to open long, but only if there will be a confirmed retracement off the support zone.

- Second scenario takes place if we cross back above the mid line, in this case also opening long.

Breakout of the Range will define our next local priority, currently we are in a ranging market.

$BTC Update

BTC reformed an Ascending Triangle a little bit, now 12k$ Resistance Zone is being tested. Fixation above will be a confirmation for the pattern, and at this point we continue going upward.