Bitcoin Stable At $11K – Altcoins In Green: The Calm Before The Strorm?

[LogitechMouse]

Its a Wave 5 of a bigger Wave 1 base on the analyst that I've always followed on Youtube.

This is the time where the FOMO crowd is coming saying "It will go higher, it will not make a pullback anymore etc.". We are at the $11,800 when I'm writing this post and the next resistances that I'm seeing are the $12,000 and the $13,000 part. Just be aware with this move because I'm expecting for a bit of a retracement around this month or next month.

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[Slow death]

current price: $11700

what really worries me a lot Is if the reason for this increase is linked to the reason why ETH is having a big pump because in this cryptocurrency market there is a great exaggeration in optimism and illusions. I want to see what price we will see from August 5th

If not for the pandemic, maybe we are in the $14k range.

really the pump would have been much bigger from January to July

[n0ne]

Right now ethereum has reached a growth percentage of 15% and there is no big growth taking place with bitcoins. Maybe there'll be gradual growth with ethereum reaching close to $800. If such a growth happens automatically leading altcoins and the ERC20 based projects will have a price pumping. Anyhow it's a bad day missing opportunities to invest on ethereum last week.

[DustyRah]

I am very happy though that the shorts got squeezed out real good with this quick 2k rise. With them shorts out of the way, the rise will be much quicker to follow.

[davis196]

obviously the main factor has been the sharp decline in the dollar vs gold and on fx markets
but this has pushed bitcoin comfortably over the psychological 10k which opens up much higher prices

The primary reasons risk assets (stocks, gold, silver, BTC, altcoins) are rallying:

• Fed QE
• Fiscal stimulus
• Investors pricing in Fed policy
• Investors pricing in inflation possibilities

They fell together in March, now they are recovering together. The USD falling against other currencies probably has some secondary correlative relationship but I don't think it's the primary cause.

im all-in OMG token its the best deal in crypto rn

Daily and weekly OMGBTC charts are ugly. Altcoins will probably bleed against BTC until this short term BTCUSD rally ends.

I agree.Many people don't realize that Bitcoin actually didn't increased it's value that much.The US dollar value just went down,so people need more US dollars to buy the same amount of BTC.
The active money printing by FED and the investors seeking a safe heaven asset that's different than gold are additional reasons why one Bitcoin costs more US dollars now.
The big altcoins like Ethereum and Ripple will most likely follow Bitcoin's bullish pattern,while the small altcoins will definitely "bleed" and decrease their prices. 

[maydna]

If not for the pandemic, maybe we are in the $14k range.

No matter if we are in the pandemic or not, bitcoin price will touch that price. Many people still believe that the price will be there, and it is good progress to see the price can break one by one of the higher rates. After the price touch $12k, bitcoin now got a dump to $11k, and it seems the price will stay at that price for a moment before the price starts another rally. Bitcoin price itself is still searching for a good time to lift the price and back to $12k. We will soon see the price will start the rally, and who knows, the price can be able to break, not just $14k, but the price will be able to break $15k.

[bitgolden]

It is neither calm nor there is storm to be brewing that anybody wouldn't expect. I mean we are talking about bitcoin, sure going from $9k to $11k is not end of the world or doesn't make anyone super rich, but it is still a good amount of increase that made it hyped up again, plus it didn't stopped I have seen $12k in some places as well. Hence, I think there is no "calm" right now, it is quite exciting and quite thrilling what is going on in the crypto market. Is it before the storm?

Well, I can't know that but a storm should be something above ATH, without that I feel like we are not really making any much difference and the price is totally believable, maybe drizzles a bit of rain but not a storm if it reaches anywhere around $13-$18k levels since that is totally doable.

[MainIbem]

Yeah. Looking more like the good days are here again. From CMC, it rallied further the next day, to almost $12k. https://coinmarketcap.com/currencies/bitcoin/historical-data/

[Reatim]

If not for the pandemic, maybe we are in the $14k range.

No matter if we are in the pandemic or not, bitcoin price will touch that price. Many people still believe that the price will be there, and it is good progress to see the price can break one by one of the higher rates. After the price touch $12k, bitcoin now got a dump to $11k, and it seems the price will stay at that price for a moment before the price starts another rally. Bitcoin price itself is still searching for a good time to lift the price and back to $12k. We will soon see the price will start the rally, and who knows, the price can be able to break, not just $14k, but the price will be able to break $15k.

I'm also optimistic that it can go further, that range is achievable even there's still ongoing pandemic, there are lots of speculations 
where bitcoin will go more and tries to reach another breakdown. This current condition might be the good barrier and forming a good resistance
before  ranging up again.

Though the clear direction to predict is not that easy, always have a sets of back up plans when you make any entries just to make sure that you are ready any interference and any downfall that may happen while you are into this investment.

It's better to ready yourself making  your adjustment
when it's needed you to decide.

[fullhdpixel]

Yeah. Looking more like the good days are here again. From CMC, it rallied further the next day, to almost $12k. https://coinmarketcap.com/currencies/bitcoin/historical-data/

That is the great thing about bitcoin, we could have the worst type of period in all of humanity and it would still go up, money itself also goes down so there is really no reason for people to move their bitcoins to fiat, why would they? Fiat would lose value anyway. Think about Venezuela for a second, if you owned bitcoin during their horrible period when everything was getting super expensive, having fiat wouldn't really help you would it?

I mean with bitcoin you could get dollars instead and with that dollar you could either buy anything you want if you could find it, or just order anything you want from outside, or just get out of the country for a while until everything got better. Simply put, on bad days bitcoin is still a great option since everything else is even worse.

[maydna]

~snip~

I'm also optimistic that it can go further, that range is achievable even there's still ongoing pandemic, there are lots of speculations 
where bitcoin will go more and tries to reach another breakdown. This current condition might be the good barrier and forming a good resistance
before  ranging up again.

Though the clear direction to predict is not that easy, always have a sets of back up plans when you make any entries just to make sure that you are ready any interference and any downfall that may happen while you are into this investment.

It's better to ready yourself making  your adjustment
when it's needed you to decide.

I think this time after the bitcoin price can break $10k, the price increase slowly and tends to stabilize at a price now, but we don't know if that is a sign to stable for a while, or it will increase higher. I am sure that bitcoin is stronger to even we are still at ongoing pandemic until now.

We need to calm down in these situations because bitcoin price is still unpredicted where the price will go, and as you say, it is better to have another plan as a backup plan, so we don't panic if bitcoin price turns the direction.

[batang_bitcoin]

I am very happy though that the shorts got squeezed out real good with this quick 2k rise. With them shorts out of the way, the rise will be much quicker to follow.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

[reliable]

I am very happy though that the shorts got squeezed out real good with this quick 2k rise. With them shorts out of the way, the rise will be much quicker to follow.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

Good time for investors to accumulate some more at this level as from 12k it had come down till 11k approx. So those who had missed that run wants to buy now before they miss out another run. Looking good for the some rise to happen form this levels it seems as it is quite stable above 11k levels before it takes a run again.

[batang_bitcoin]

I am very happy though that the shorts got squeezed out real good with this quick 2k rise. With them shorts out of the way, the rise will be much quicker to follow.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

Good time for investors to accumulate some more at this level as from 12k it had come down till 11k approx. So those who had missed that run wants to buy now before they miss out another run. Looking good for the some rise to happen form this levels it seems as it is quite stable above 11k levels before it takes a run again.

They can buy at any price that they want. They have to be visionary and have a thought in the long term not just with the short term. They can short but refill their positions back if they sell and buy in again.
The cycle which could make them have their own positions and get a better price as they sell should be in their decided price to sell. No regretting if they sell and if they buy but have to follow the vision and plan they have made.

[peter0425]

I am very happy though that the shorts got squeezed out real good with this quick 2k rise. With them shorts out of the way, the rise will be much quicker to follow.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

Traders who managed to work with sorting really get something good out from that market movements.

Money was been played and weak hands are now regretting their loses, the short downfall is now being supported back
and regaining the momentum.

You'll be enjoying this especially if you are good in day trading set up.

[Ridwan Fauzi]

Good time for investors to accumulate some more at this level as from 12k it had come down till 11k approx. So those who had missed that run wants to buy now before they miss out another run. Looking good for the some rise to happen form this levels it seems as it is quite stable above 11k levels before it takes a run again.

Seem like bitcoin's price will fall to $10.000 again before the bull run comes. As we can see now in thr time frame one day there is a bearish candle that I don't know it could be happen. The candle in one hour is really long and I believe the movement price now will try to pass this candle first. More than that, there in an article on cointelegraph which stated that bitcoin's price will back to $10.000 and after that the price will goes back to increase. So, I think for those investor who still hold their money should consider first before decide to buy. They should make the analyst first and accumulate the possibilities that will be faced.

[Leviathan.007]

These two are directly related together. The reason of why altcoins are green and rising is because of the Bitcoin's dominance. During the rising the Bitcoin to 11K channel all the alternative coins were falling down due to the dominance the emotional sharp movements and now after the stability of the price, the bitcoin dominance is rising after reaching the support. That's the reason why altcoins rise after the stability of Bitcoin.

[batang_bitcoin]

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

Traders who managed to work with sorting really get something good out from that market movements.

Money was been played and weak hands are now regretting their loses, the short downfall is now being supported back
and regaining the momentum.

You'll be enjoying this especially if you are good in day trading set up.

Very applicable to traders and they all know what to do. And as we discuss about being chill and how to stop being a panic seller. Here goes the market again, we've got another typical bitcoin day.
Price goes $11,300 again. For holders, this doesn't do much because we all expect that it will eventually recover and recover again after it dumps.

[STT]

If not for the pandemic, maybe we are in the $14k range.

I'd say it the other way round, if not for emergency measures we'd have a tougher time from not as many new dollars being circulated.   Any amount of QE or similar helps market first quite easily which helps BTC by extension as its basically part of forex now.

Round 11.5k is a bit of a top so a bit of a ceiling perhaps old volume where we settled each week last year

[shoreno]

I am very happy though that the shorts got squeezed out real good with this quick 2k rise. With them shorts out of the way, the rise will be much quicker to follow.

It's quick to drop yet it's also quick to recover. Just a typical day for bitcoin, we got to squeeze the weak hands out and then the holders shall remain. Lucky as I have been holding and managed to hold my emotion by simply being calm. It's a mistake before that I don't want to repeat so to those that haven't got their stash filled as it drops, just don't be a panic seller. Looks like we have a stronger support this time.

quick drop and quick recover is better than longer ones because we all got bored waiting and almost lost our hope before  .

 not a typical move for btc on the past but these days yeah it is . weak hands are also hodlers but they arent only long term hodlers , are they a threat ? you arent lucky that your still holding but you only changed your mindset because you said you have your mistake before  .