Current Local Roadmap of Bitcoin

[Lasky366]

We have the Range established, most likely to be a Re-Accumulation during the overall Uptrend, nonetheless it can be confirmed only by the breakout of 12k$ Resistance as I pointed out previously.

Locally we have some important key zones that can help us scalping, as we are in the middle of the overall Range we have to looks for the Resistance & Support Zones, because the breakout of any of this area will point the Next Local Direction (marked on the chart). Simply working with a breakout now.

[Yaunfitda]

So now the resistance of $12k is not yet broken, been twice or thrice already that we have reach it but so far it's a mental barrier for most traders. For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

[Oasisman]

For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

Scalping is good for traders who have high risk tolerance and market experience, infact It's been a good time to do it judging how Btc has been moving in the $11,000 region lately.
Though traders may set up a strict exit point, and that's what it makes hard for some traders.
But to make it in a much safer position, your second opinion will be the best option as there will be a potential breakout sooner or later.

[Fundamentals Of]

We have been repeatedly rejected by $12,000. It seems we are going to be approaching it once again in the coming hours. It would again be either make or break. If the $12,000 support is broken we are probably going to be heading on to $13,000 before the correction occurs or we could be rejected once more and head back to $11,000.

[carlfebz2]

For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

Scalping is good for traders who have high risk tolerance and market experience, infact It's been a good time to do it judging how Btc has been moving in the $11,000 region lately.
Though traders may set up a strict exit point, and that's what it makes hard for some traders.
But to make it in a much safer position, your second opinion will be the best option as there will be a potential breakout sooner or later.

Scalpers wont really on what would be the current trend yet they do trade no matter whats the current market condition but somehow if basing of on how the price moves in a trend manner then it
would be also a considerable tool that you do base on which is casual stuff on active trades.

As mentioned where we had been rejected to break that 12k resistance but who knows that in upcoming hours we would able to break that but not an assurance that we would be heading to 13k
directly but its most likely.

For now lets just wait and make up positions if you can deal with it.

[livingfree]

We have been repeatedly rejected by $12,000. It seems we are going to be approaching it once again in the coming hours. It would again be either make or break. If the $12,000 support is broken we are probably going to be heading on to $13,000 before the correction occurs or we could be rejected once more and head back to $11,000.

It's making the resistance and the support tighter this time.

Those rejections that bitcoin took for hitting $12,000 were a good sign. Now, looks good and better on $11,700 as it shows stably moving as it is about to break that rejected price.

[Baofeng]

We have been repeatedly rejected by $12,000. It seems we are going to be approaching it once again in the coming hours. It would again be either make or break. If the $12,000 support is broken we are probably going to be heading on to $13,000 before the correction occurs or we could be rejected once more and head back to $11,000.

It's making the resistance and the support tighter this time.

Those rejections that bitcoin took for hitting $12,000 were a good sign. Now, looks good and better on $11,700 as it shows stably moving as it is about to break that rejected price.

I agree, it's not that easy to just jump to $12k without getting any resistance, and that price seems to be the biggest wall. As we have seen several rejections. So again, let's wait, as the price is settling down to $11,700 and maybe a good time to accumulate before moving on. Weekends is coming, I'm not expecting any price movement and wait for Monday to see if we can get to $12k again.

[btc_angela]

For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

Scalping is good for traders who have high risk tolerance and market experience, infact It's been a good time to do it judging how Btc has been moving in the $11,000 region lately.
Though traders may set up a strict exit point, and that's what it makes hard for some traders.
But to make it in a much safer position, your second opinion will be the best option as there will be a potential breakout sooner or later.

However, there's not much movement lately or at least in the last 2 days when we touch $11,700 again. So not a good time in my opinion. But we have a different strategy, so probably high risk traders can tolerate some short bounce in the price and then make a profit margin.

[Yaunfitda]

For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

Scalping is good for traders who have high risk tolerance and market experience, infact It's been a good time to do it judging how Btc has been moving in the $11,000 region lately.
Though traders may set up a strict exit point, and that's what it makes hard for some traders.
But to make it in a much safer position, your second opinion will be the best option as there will be a potential breakout sooner or later.

Yes but it's not for everyone because of the huge risk involved. I try to do scalping before, but it didn't work for me. Maybe others have good success rate or I do something wrong. Nevertheless, it is a learning experience for me. I guess, majority will agree that going long will be the best logical choice as break out to $12k or more are imminent.

[livingfree]

We have been repeatedly rejected by $12,000. It seems we are going to be approaching it once again in the coming hours. It would again be either make or break. If the $12,000 support is broken we are probably going to be heading on to $13,000 before the correction occurs or we could be rejected once more and head back to $11,000.

It's making the resistance and the support tighter this time.

Those rejections that bitcoin took for hitting $12,000 were a good sign. Now, looks good and better on $11,700 as it shows stably moving as it is about to break that rejected price.

I agree, it's not that easy to just jump to $12k without getting any resistance, and that price seems to be the biggest wall. As we have seen several rejections. So again, let's wait, as the price is settling down to $11,700 and maybe a good time to accumulate before moving on. Weekends is coming, I'm not expecting any price movement and wait for Monday to see if we can get to $12k again.

Yes, as always we're still given ample time to accumulate. Those who thought that they've been missing alot, they shouldn't miss it this time.

You reminded me about weekends, oh yes you are right! there are always a lot of happenings every weekend. Just be prepared for it.

[Jating]

[.. snip ..]

[.. snip ..]

I agree, it's not that easy to just jump to $12k without getting any resistance, and that price seems to be the biggest wall. As we have seen several rejections. So again, let's wait, as the price is settling down to $11,700 and maybe a good time to accumulate before moving on. Weekends is coming, I'm not expecting any price movement and wait for Monday to see if we can get to $12k again.

Yes, as always we're still given ample time to accumulate. Those who thought that they've been missing alot, they shouldn't miss it this time.

You reminded me about weekends, oh yes you are right! there are always a lot of happenings every weekend. Just be prepared for it.

On the contrary, it looks like this weekend is very different as the price seems to get over that $11700 and moving to $11800-$11900. So I guess when we are in a bull run those expectations are thrown out of the window because we really don't know what to expect.

And as the market is open 24x7, there could be some scalping during the weekends. And here we go again, seems that $12k is just around.

[slaman29]

So now the resistance of $12k is not yet broken, been twice or thrice already that we have reach it but so far it's a mental barrier for most traders. For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

Three times, and each time it retraced quite "heavily" but each time was a great dip for traders to buy which makes me believe that they are the same group of traders taking easy 5% profit at 12000 and buying back below 11500.

Definitely not for everyone, entering right now could gain you 2 or 3 times 5% in a row but wrong time wipes you out or makes you miss good rally.

[Baofeng]

[.. snip ..]

[.. snip ..]

I agree, it's not that easy to just jump to $12k without getting any resistance, and that price seems to be the biggest wall. As we have seen several rejections. So again, let's wait, as the price is settling down to $11,700 and maybe a good time to accumulate before moving on. Weekends is coming, I'm not expecting any price movement and wait for Monday to see if we can get to $12k again.

Yes, as always we're still given ample time to accumulate. Those who thought that they've been missing alot, they shouldn't miss it this time.

You reminded me about weekends, oh yes you are right! there are always a lot of happenings every weekend. Just be prepared for it.

On the contrary, it looks like this weekend is very different as the price seems to get over that $11700 and moving to $11800-$11900. So I guess when we are in a bull run those expectations are thrown out of the window because we really don't know what to expect.

And as the market is open 24x7, there could be some scalping during the weekends. And here we go again, seems that $12k is just around.

It's just a minor jump though, so I wouldn't consider it any different from any day specially weekends. If there's a sudden jump to $12k and continue to Monday and the rest of the week, then such be an exception. But right now, it just went on some little pump and the sideways, typical of a weekend activity, at least that's how I see it.

[YuginKadoya]

If it weren't going to overcome the resistance I guess it is OK as well let's not forget the correction that may happen if it continues to move forward in a fast pace, But for now, savor the price accumulation of Bitcoin even ETH has increased dramatically that I haven't noticed it,

Traders will just think of a good way they can make something good with the current movement, and I think the price range is still in a good place.

[carlisle1]

If it weren't going to overcome the resistance I guess it is OK as well let's not forget the correction that may happen if it continues to move forward in a fast pace, But for now, savor the price accumulation of Bitcoin even ETH has increased dramatically that I haven't noticed it,

Traders will just think of a good way they can make something good with the current movement, and I think the price range is still in a good place.

No need to rush things up as the market will experienced another corrections in coming days, 
but this current movements really showing  a good sign to keep your  assets or if you have a
good looks from the graph and have proper understanding with the market movements, trying
to do short can also gives some dust profits just keeps on rinsing and make sure to keep
close the chance that it will move much stronger is very possible as well.

[Harlot]

It would be hard for us to go up above the 12,000$ zone especially if the volume is dropping already. See the push/price increase we had from 10k to 12k you will see that the volume isn't increasing which just shows that this isn't really a bull run or at leaat a strong one because the demand for Bitcoin isn't backing up the price increase. Which means that if we don't see the volume improving the next time Bitcoim tests th 12k level we might end up at the same result of it failing hoing up above it.

[Yaunfitda]

So now the resistance of $12k is not yet broken, been twice or thrice already that we have reach it but so far it's a mental barrier for most traders. For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

Three times, and each time it retraced quite "heavily" but each time was a great dip for traders to buy which makes me believe that they are the same group of traders taking easy 5% profit at 12000 and buying back below 11500.

Ok, pardon my memory, sometimes my brain doesn't work that very well, lol. Yeah, that strategy will work as long as you have a deep pocket. But for us, if you don't have that much money to buy and then pull out in the last minute to make at least 5% profit, it is not advisable.

Definitely not for everyone, entering right now could gain you 2 or 3 times 5% in a row but wrong time wipes you out or makes you miss good rally.

Agree, that's why there's no one size fits all strategy here. It's really up to our capacity and risk aversion.

[SquallLeonhart]

I guess the short term roadmap for bitcoin would be testing the current ATH; I think $20k will be the hardest one, it will take a long time before we can even test it, and when we reach there, like be over $19k but under $20k, we will have a long period of time when we go above and go down and do that for multiple times before we could reach higher once again.

Obviously we are not going to stay under $12k or even $20k forever, there will be a time when we move above those levels eventually, I don't know how long it will take but look at 10k for example and how we moved beyond it, so that means no matter how long it takes we will reach there.

I feel like that $12k mark is another bigger psychological mark as well and the fact that we broke over it but hot holding it still doing better right now shows that there is really no problem with us breaking over such any psychological barrier; which means achieving all the goals of short term roadmap will not be a problem as usual.

[Oasisman]

For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

~snip~

Yes but it's not for everyone because of the huge risk involved. I try to do scalping before, but it didn't work for me. Maybe others have good success rate or I do something wrong. Nevertheless, it is a learning experience for me. I guess, majority will agree that going long will be the best logical choice as break out to $12k or more are imminent.

Nothing is wrong but the timing of when will you exit and enter the market. I tried scalping as well when I was still starting out to make a trading career (which eventually fail lol) and yes everything went south. That's why It really needs critical market analysis, experience, and more and more experience.
But then again, going long isn't arguable. That's the most reliable method for everyone lol.

Btc movement this week seems very similar during the psychological $10k level, once Btc breaks the $12,000 resistance level ones or twice again, there might be a possibility Btc will have another run up to $15k.

[ryap12]

For scalping, it's not for everyone, would you suggest this strategy short time or it's better to go long as we are in a bull run already?

~snip~

Yes but it's not for everyone because of the huge risk involved. I try to do scalping before, but it didn't work for me. Maybe others have good success rate or I do something wrong. Nevertheless, it is a learning experience for me. I guess, majority will agree that going long will be the best logical choice as break out to $12k or more are imminent.

Nothing is wrong but the timing of when will you exit and enter the market. I tried scalping as well when I was still starting out to make a trading career (which eventually fail lol) and yes everything went south. That's why It really needs critical market analysis, experience, and more and more experience.
But then again, going long isn't arguable. That's the most reliable method for everyone lol.

Btc movement this week seems very similar during the psychological $10k level, once Btc breaks the $12,000 resistance level ones or twice again, there might be a possibility Btc will have another run up to $15k.

I have the same speculation as yours, lol. But for sure once it hits $15,000 then most holders will definitely dump one by one. Aside from that, hoping for those bitcoins that were stolen will not get dump as of right now and BTC is trying to break the resistance. The graph looks good on what OP posted hoping it will continue to head North-East.