What will happen next if the resistance breaks?

[F_Societys]

I had no idea what to happen next but the time is not right. Everybody says Bitcoin closely following the event of US election, whatsoever between $10k -$11k range it's ups and down. If the resistance falling we're likely going below $9.5k. There is so much uncertainty at the moment in all markets. We're heading into 2021 and anything could happen. Just my opinion...

It can be said that the election will definitely affect bitcoin and, as in previous years, it has affected the market and the stock market.
In general, Bitcoin is not independent of world events, and we saw what happened in response to the Corona virus.

The resistance level break has the chance of a downward movement than the forward push. There is minor fluctuations in the market volume at specific time interval. Right now there is big variation in the market of altcoins, almost every altcoin have declined on its value. As of now every move happening with bitcoin seems to be associated with the election campaigning happening activities of USA.

The current resistance will be in the range of 10,800 to 11,000.
Market volatility is also declining, indicating a stabilization of resistance.
And if bitcoin is on the rise, altcoins will definitely be affected by the king.

[F_Societys]

Those who think bitcoin is an easy money don't have the right knowledge about how investment works and how this cryptocurrency works. There's a strong wall on the resistance level and that is why we are still down, however the future of bitcoin is still bright because of the adoption happening on most of the country. The trend will not always in favor to us, there are times that our patience will be tested so if you have a weak emotion, you'll lose in this market.

These people do not know enough about Bitcoin and this will cause them to fail.
I can also say about the future of Bitcoin that governments are more against it !!

Because they see the value of their national currency declining.
And the only countries that I think agree with Bitcoin are developed countries like China and Japan.

[CryptopreneurBrainboss]

The resistance level break has the chance of a downward movement than the forward push. There is minor fluctuations in the market volume at specific time interval. Right now there is big variation in the market of altcoins, almost every altcoin have declined on its value.

But don't you think the downtrend of altcoins was just uncalled for and they were oversold, looking at a chart I saw coins declining as much at -99% to -70% just within 1/2weeks. The DeFi projects were one of the most affected sections of alt which got me wondering what the recover story of the market will be when that time comes, whether the DeFi coins will get less attention or they'll be top recoverers.

The bitcoin price movement is getting tiresome to watch as the up and down movement continues. Currently it's trading at around $10,800 with a resistance still been at $11,000 which would be very difficult for bitcoin to break also few altcoins are also pumping which is a positive signs of the altcoin won't be left out when the bull market returns.

Because they see the value of their national currency declining.
And the only countries that I think agree with Bitcoin are developed countries like China and Japan.

They know the valve of the currency, they are just trying to play the first mover advantage. Deep down they're only trying to overthrown the US by dominating what they believe will be the next world currency.

[palle11]

On the lower time frame, bitcoin price movements still respect to the trend line that forms a symmetrical triangle, which is I'll expect the price will go up again retest the $10.900 barrier. But when its price breakdown the trend line it could fall to $9800 and I'll be expecting the tweezer bottom will be formed by this monthly candlestick. I just thinking that the crypto's whale is preferable not to buy bitcoin, as we can see in the past few weeks the volume for bitcoin price is very small compared to the previous weeks.

I think you have speculated rightly. The $10,900 has barrier has been retested and almost broken. I believe if it closes above that on a daily chart maybe it could be a change of trend for nest day day. The market has been bull for today and if continued, volatility might have been established.

[Oceat]

As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.

[KTChampions]

what you expect seems nothing to happen mate because we cannot even reach $10,900 again instead continue falling again.
It looks like we will get what we want in the latter part of this 4th quarter .

i can't do anything now because i am waiting for at least below 9k before purchasing again or 15k to sell of.

I agree with everything except the reasoning about the level of 10,900 (I consider fluctuations in +/- 500 dollars insignificant). I sold bitcoin at 12300 and I see that now the situation looks more like a slow fall, so I'm waiting for more pleasant levels in order to make a buyback.

Funnily enough, the price almost reached the discussed level after I wrote this post 
But nothing has fundamentally changed, this is not the beginning of a new bullish trend, but the usual volatility, so those who want to buy bitcoin should wait for more interesting levels.

[STT]

More important then the talk or reference to the virus would be monetary policy and they have massively expanded Dollar easy money policy this year, if not for that BTC might have suffered far more or at least recovered in a long time period then its taken.



Iam just looking at whether its past resistance or not, its looking close to past negativity but I think it takes multiple confirmations to really kick in.

[justdimin]

Bitcoin will definitely go above $15k and there is no way it will not, we are just waiting for it to happen and it may take some time before it happens but there is no world where it will not happen. However this doesn't mean that it will never go down, this doesn't mean that the first thing it does will be going over $15k, it just means that "eventually" it will go there.

That is why I always said buy right now, from $6k to $12k all the time I said buy now, because you may wait but there is no other investment that you could have that could make it 50% profit in a year of time, you can invest into anything and it will not yield that much profit.

Resistance breaking will just confirm this and it may happen quicker if we could break just two resistance points back to back.

[DeathAngel]

$11,000 broken, possibly a move on $12,000 this weekend. Q4 is historically a really good time for the price. Exciting times await I think.

[btc78]

$11,000 broken, possibly a move on $12,000 this weekend. Q4 is historically a really good time for the price. Exciting times await I think.

Though it is late for 4th quarter entering yet the price istarting to move up,maybe this is because of the "Square Company" that bought $50 million worth
 of Bitcoin as started and maybe there is more to come.
It is always been best when the last quarter of the year comes because many good movement happens aside for 2018 when we are really in deep market when last quarter comes.

[virasog]

what you expect seems nothing to happen mate because we cannot even reach $10,900 again instead continue falling again.
It looks like we will get what we want in the latter part of this 4th quarter .

i can't do anything now because i am waiting for at least below 9k before purchasing again or 15k to sell of.

I agree with everything except the reasoning about the level of 10,900 (I consider fluctuations in +/- 500 dollars insignificant). I sold bitcoin at 12300 and I see that now the situation looks more like a slow fall, so I'm waiting for more pleasant levels in order to make a buyback.

Funnily enough, the price almost reached the discussed level after I wrote this post 
But nothing has fundamentally changed, this is not the beginning of a new bullish trend, but the usual volatility, so those who want to buy bitcoin should wait for more interesting levels.

I have observed that bitcoin pumps in first 15 days of the month and dump in the last 15 days of the month. This is my analysis for last few months and due to this we are seeing some pump in bitcoin prices as we are in the fist half of the month. Lets see if it starts to dump after 15th October. 

Although there is no logic behind this and there is no fundamental change as mentioned by you, but its just an observation.

[STT]

Good continuation from prior resistance and various negative momentum, I do need the weekly bar to form positively but BTC could do well so long as its held this area going forwards.



Its quite clear in moving upwards when it does this, past negative trend past the 50 day declining moving average.   The wider time frame will take longer to confirm a proper positive move and I do think the bigger resistance is vs volume above 10k or 10.5k as we've had recently as pivotal price.
  So for next week and future reference, lets call out 11030 as an area to hold as a low and obviously get past on weekly bars.   We do seem like we'll end this week on sunday as a positive but theres always a counter story to contend with.

[Hippocrypto]

$11,000 broken, possibly a move on $12,000 this weekend. Q4 is historically a really good time for the price. Exciting times await I think.

Though it is late for 4th quarter entering yet the price istarting to move up,maybe this is because of the "Square Company" that bought $50 million worth
 of Bitcoin as started and maybe there is more to come.
It is always been best when the last quarter of the year comes because many good movement happens aside for 2018 when we are really in deep market when last quarter comes.

The situation of bitcoin market isn't that progressive right now, because same bearish pattern was still pulling down the price. Meanwhile, I've seen some point that resistance will be break but not so easy due to worldwide health crisis or the pandemic. Big investors also considering the world economy before risking their funds towards cryptocurrency. Hopefully we will experience slight gains after price corrections.

[F_Societys]

They know the valve of the currency, they are just trying to play the first mover advantage. Deep down they're only trying to overthrown the US by dominating what they believe will be the next world currency.

They make the world dependent on bitcoin.
And we can see in the future that China, in addition to taking over the economy, can be one of the developed countries of bitcoin.

[F_Societys]

As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.

We have to wait for special conditions to stabilize in channel 11000.
Trump also used the policy to his advantage.
And it can be seen that bitcoin has also been slightly affected.
It is in this context that we can say that politics determines everything.

[Oasisman]

As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.

It is in this context that we can say that politics determines everything.

I have to agree with this, considering the volume of Bitcoin adoption in the US that has been affected by any political events. As much as I don't want to believe that Bitcoin has no correlation with politics, but I guess everything is correlated with politics specially in the US now. Even the popular athletes has engaged into politics.
Entrepreneurs, investors, and other financial business related people might as well engage into politics, thus affecting stocks and Bitcoin.

The Trump tweet and his Covid positive news that causes negative effect on Bitcoin price seems didn't stayed long, and Btc is back on track at $11,000.

[Distinctin]

We have to wait for special conditions to stabilize in channel 11000.
Trump also used the policy to his advantage.
And it can be seen that bitcoin has also been slightly affected.
It is in this context that we can say that politics determines everything.

A good thing to see now is that we are moving beyond the $11k wall and trying to break $12k later. Might be a coincidence that it pumps closely together as the US election come, it might affect the trend but not sure how it works. It could have a politics influence or not, Bitcoin will still make a good rally anytime soon. All we have to do now is to wait how it changes the trend and strong resistance will stay on the momentum as it keeps moving high at this point.

[ShowOff]

-snip-
The Trump tweet and his Covid positive news that causes negative effect on Bitcoin price seems didn't stayed long, and Btc is back on track at $11,000.

I don't think that negative news about covid-19 can affect bitcoin price in the long run. Some time ago I also thought bitcoin would undergo a major correction just because Trump was infected, but in fact the price of bitcoin has broken its nearest resistance and hit $11K plus.

I think the negative issues that have been spreading about Covid will only have a negative impact on stock prices and the world economy in general. But bitcoin looks pretty strong against the wave of panic among stock investors and they were also interested in bitcoin after the stock fell. Bitcoin has become a good option to consider for investors if they don't trust the less profitable stocks enough during the pandemic.

[slaman29]

As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.

Looks like the weekend is being really kind so far. Trump's comments dropped a few hundred dollars off the BTC price but the Square/Jack Dorsey news and comments seemed to have not only recovered that but pushed BTC way up above 11k right now. Think people are hoping we see 13k by end of month for a serious Christmas price;)

[jostorres]

As usual we might as well see some ups and downs if it's going to touch the $11k just like how it did last month. On the other hand, Trump's tweet seems like a little connected to the market so, this is just one of the factors that could affect the price of Bitcoin. Corona virus is just a given reason if someone wants to make a move to the market although it didn't actually make any effect on the market but with the influencers getting COVID is just a downer.

It is in this context that we can say that politics determines everything.

I have to agree with this, considering the volume of Bitcoin adoption in the US that has been affected by any political events. As much as I don't want to believe that Bitcoin has no correlation with politics, but I guess everything is correlated with politics specially in the US now. Even the popular athletes has engaged into politics.
Entrepreneurs, investors, and other financial business related people might as well engage into politics, thus affecting stocks and Bitcoin.

The Trump tweet and his Covid positive news that causes negative effect on Bitcoin price seems didn't stayed long, and Btc is back on track at $11,000.

Politics do not determine "everything" most of the time but it does and also should determine many major things.

We are talking about a whole idea of a nation changing, lets take USA for example because everyone knows USA and their own nation, so we can pick USA for global example; In USA if Trump wins there is a right wing conservative and against progress agenda that will continue, obviously they will decline that they do not want new things, but this is the party that wants to be in the 60's and that is why I do not think it will be great for small business and workers, but the stock market could be better considering those companies will make profit thanks to right win capitalist ideas.

Opposite for Biden, he would have people more progressive in his team and that may make workers and small business earn more but make huge companies pay more taxes as well. So in the end it affects economy deeply depending on winners.