What will happen next if the resistance breaks?

[F_Societys]

Hello to all friends
Rsi has a negative divergence in 4H timeframe, and considering that it could not break the resistance of 10620, I think we will have a correction to the range of 10300, but if 10620 is broken, the next position is 10750, which is a strong resistance range.
This is my analysis.

And the next analysis:

Due to the negative conditions and news these days, Bitcoin has maintained itself and has not fallen seriously and has even grown a bit.

This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.

[jackg]

Yeah I can see a move to (below)10750 on the 4 hour timeframe (if we don't end up just breaking down here which might be likely)...

And yeah 11500 is a reasonable step up from here, but the step-down from here would be the ~9800 regions again...

Sidenote: when did we start measuring moves by half of the levels they've reached before? I'm trying to work out why that's looking to work with analysis.

[YuginKadoya]

In my opinion, it is OK for a correction right now because when there is a correction there is always a momentum for the price to sprung back up again and even breaks the next resistance, That is what bitcoin is trying to do in its recent movements, I guess you are right the whales is really just waiting patiently for the right opportunity to make a move again, I think it is OK for Bitcoin price to have a break once in a while to regain its momentum back up again.

[GreatArkansas]

Here is my simple chart for this.
I have strong feeling that strong resistance for short time is around $10, 700 - $10,900. Which is kinda close with yours.
And a minor support around $10,000 - $10,200. Since last week, I am watching closely this support since when we use daily time frame, we still haven't able to make a daily close below $10,000 for almost 2 months now. That's why I clearly see a $10, 000 is strong support here.
A breakout on this resistance, I am hapily to see a easily $12, 000 within few weeks.

[exstasie]

Hello to all friends
Rsi has a negative divergence in 4H timeframe, and considering that it could not break the resistance of 10620, I think we will have a correction to the range of 10300, but if 10620 is broken, the next position is 10750, which is a strong resistance range.
This is my analysis.

Screenshot your charts and share them here. That would make it a whole lot easier to understand your analysis.

This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.

Possible. That's one way we could complete the orange scenario in this triangle: https://bitcointalk.org/index.php?topic=5196072.msg55282472#msg55282472

A double zig zag to the $6,000s or $7,000s.....

[Johnyz]

We’re on the sideways trend playing between the support and resistance and of course if we break the resistance and there’s a strong volume we will climb up and will create another support level, the next trend is crucial after this. Bitcoin moves slowly in the past days, whales are just waiting for the market signal and if the market hit their target, expect them to move big again.

[carlisle1]

We’re on the sideways trend playing between the support and resistance and of course if we break the resistance and there’s a strong volume we will climb up and will create another support level, the next trend is crucial after this. Bitcoin moves slowly in the past days, whales are just waiting for the market signal and if the market hit their target, expect them to move big again.

Whales are always in the safe position,they are only watching above and when the right time comes they will grab the opportunities and bag another set of money.

we are now nearing $10,750 like what OP says because the price now is near $10,700

https://coinmarketcap.com/

maybe in a matter of days we will cross $11,000 again.

[pooya87]

the only resistance that matters in my opinion is the one at $11k. everything else below that and above $10k is going to be normal daily fluctuations. when the $11k breaks then the market can take a direction (similarly if $10k support breaks it will be a downward direction).
meanwhile whales are accumulating!

This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.

right now it is $10660 and it did also reach $10750 which is my point about $11k being the real resistance otherwise reaching these prices doesn't really mean much since it could again go back down to $10400 then back up again (rinse and repeat). and this does actually mean bitcoin is stable right now.
as for the news, i haven't see any bad news that affects bitcoin itself. it has affected some weak hands that sold but since they sold recently there aren't that many weak hands left to panic sell which is why we didn't see any drops.

[F_Societys]

In my opinion, it is OK for a correction right now because when there is a correction there is always a momentum for the price to sprung back up again and even breaks the next resistance, That is what bitcoin is trying to do in its recent movements, I guess you are right the whales is really just waiting patiently for the right opportunity to make a move again, I think it is OK for Bitcoin price to have a break once in a while to regain its momentum back up again.

Of course, a price break does not always lead to an increase.
Rather, after the resistance is broken, we have to wait for a new move (rise or fall) and this action is possible only if the demand increases.

Here is my simple chart for this.
I have strong feeling that strong resistance for short time is around $10, 700 - $10,900. Which is kinda close with yours.
And a minor support around $10,000 - $10,200. Since last week, I am watching closely this support since when we use daily time frame, we still haven't able to make a daily close below $10,000 for almost 2 months now. That's why I clearly see a $10, 000 is strong support here.
A breakout on this resistance, I am hapily to see a easily $12, 000 within few weeks.

Thanks for drawing the chart and also this resistance is not going to be long and finally the prices should jump or fall during these few weeks.

And as I said, the conditions are right for a price increase, and the expectation of the 12,000 channel is not far off.

[davis196]

When the resistance breaks,the price will go down,which might cause some whales and bulls to wake up and start buying,which means that the price might go up again,if the buying pressure is strong enough.
Anyway,the resistance might not break until Christmas or maybe January 2021.

[F_Societys]

Screenshot your charts and share them here. That would make it a whole lot easier to understand your analysis.

Possible. That's one way we could complete the orange scenario in this triangle: https://bitcointalk.org/index.php?topic=5196072.msg55282472#msg55282472

A double zig zag to the $6,000s or $7,000s.....

I try to draw diagrams, but I leave analyzes that I do not think need diagrams or have a simple understanding without diagrams to challenge the reader's mind.
I have to say about 6000 or 7000 that it is a bit pessimistic and we should expect higher prices for zigzagging.

We’re on the sideways trend playing between the support and resistance and of course if we break the resistance and there’s a strong volume we will climb up and will create another support level, the next trend is crucial after this. Bitcoin moves slowly in the past days, whales are just waiting for the market signal and if the market hit their target, expect them to move big again.

Yes, what is expected is to break the current resistance and form a resistance in the higher range.
And I have to say about whales that they will not make emotional decisions like newcomers, and they will make strange moves when the market is in their favor.

[Reid]

I am also considering expectations.
CoranaVirus.
This illness could be making a positive effect on the market.
Not that it's a good thing but most whales could be expecting other investors to switch anytime now.
I don't know, it may sound crazy but that is how my mind works for now.
IMHO, resistance is there because of that and it won't go so low in near future.

[F_Societys]

I am also considering expectations.
CoranaVirus.
This illness could be making a positive effect on the market.
Not that it's a good thing but most whales could be expecting other investors to switch anytime now.
I don't know, it may sound crazy but that is how my mind works for now.
IMHO, resistance is there because of that and it won't go so low in near future.

On the other hand, Corona virus has increased the purchase of bitcoins and increased the safe deposit box of the people, which increases the price.
Also, in a situation where we are all at home, there are people who are familiar with bitcoin and this opportunity can be used in favor of bitcoin.

[STT]

the news of the Corona virus came, bitcoin did not fall at once

BTC fell out of a positive trend before March, it didnt have to fall like that but it was ready to pull back I guess.   We've had bad flu strains before, this one was different but there was no real common perception or fear till late Feb I guess then it moved all markets.
   11,000 is the level I was just looking at to start proving we have moved past a negative scenario in price action.   Till we really establish a price like that as the low then I presume we drift and remain negative medium term, right now its drifting up but I dont count this especially as any action.

[btc_angela]

Hello to all friends
Rsi has a negative divergence in 4H timeframe, and considering that it could not break the resistance of 10620, I think we will have a correction to the range of 10300, but if 10620 is broken, the next position is 10750, which is a strong resistance range.

We have broken the $10600 resistance, currently well above $10750.

This does not mean that bitcoin is stable, the whales are patient and vigilant, now is the time when bitcoin will make a relatively good ascent to 11500 and after this ascent we will have a drop to channel 9 ka and after that I will serve you What is the situation, do not forget that when the news of the Corona virus came, bitcoin did not fall at once and behaved like now, but in the end, March became an exemplary fall.

Well bitcoin will not be stable technically, perhaps what we are seeing in a relatively calmness in the market, maybe some are into this Defi hype, but if it will burst, investors are going to shift to bitcoin again and maybe we cane and the year in the $11k-$12k range. Corona virus has no impact already, we already pass it, and that's another reason why we are stable.

[Viscore]

10,700 is a short stay for sure. I don't feel such resistance instead of having the support to start. The Defi surge is almost done and I'd expect more increase 10,800-10,900, but can't be straight to break for 11,000. The market will remain unstable, yet the support system isn't enough to make a huge push. No clue for the hypes when it comes. However, the market is still healthy, we are not in the bullish season and we are not also in the bear season. The last hope, for now, is to keep the trend above 10,000 until the year ended.

[tabas]

On the other hand, Corona virus has increased the purchase of bitcoins and increased the safe deposit box of the people, which increases the price.

It made people bought bitcoin. Those people who have received stimulus but I don't think that they are that much compare to the needs that they need to spend by that incentive or aide.

Also, in a situation where we are all at home, there are people who are familiar with bitcoin and this opportunity can be used in favor of bitcoin.

This pushed not bitcoin people to research about bitcoin and give themselves the benefit to study about it. And now, probably a portion of those people have been encouraged not by anyone but by themselves to buy.

[F_Societys]

the only resistance that matters in my opinion is the one at $11k. everything else below that and above $10k is going to be normal daily fluctuations. when the $11k breaks then the market can take a direction (similarly if $10k support breaks it will be a downward direction).
meanwhile whales are accumulating!
right now it is $10660 and it did also reach $10750 which is my point about $11k being the real resistance otherwise reaching these prices doesn't really mean much since it could again go back down to $10400 then back up again (rinse and repeat). and this does actually mean bitcoin is stable right now.
as for the news, i haven't see any bad news that affects bitcoin itself. it has affected some weak hands that sold but since they sold recently there aren't that many weak hands left to panic sell which is why we didn't see any drops.

The important thing is that the current resistance is breaking and in the next few days we may see the entry of channel 11000.
Also, 11,000 is not a safe area for bitcoin, and we may see it fall back to the 10,000 channel. And then we have to wait for a new resistance that will occur in the channels above 10,000.

When the resistance breaks,the price will go down,which might cause some whales and bulls to wake up and start buying,which means that the price might go up again,if the buying pressure is strong enough.
Anyway,the resistance might not break until Christmas or maybe January 2021.

Maybe the downfall is the idea of whales wanting to raise liquidity from the market and take advantage of it when cows sell at a low price.
Also, the resistance of 10,000 has reached almost stability and we can hope for higher prices.

[el kaka22]

10K is not only a resistance in the market but it is a resistance in the psychological levels as well, people do not think that bitcoin worths under 10k and that is a very good reason why it continues to go above 10k all the time, but people do not even think it worths over 10k as well so whenever prices change we just end up with the same thing, bitcoin going down and up between 10k and that is how it is for the most of last three years, it reaches as low as 3.8k and still goes over 10k and it reaches at as high as 14.8k and still goes under 10k, it is always doing that.

This means the resistance at 10k doesn't really shock me, it is something we have always lived with, people do not want it go under 10k and there are tons of people who want it down as well which will be a fight.

[exstasie]

Screenshot your charts and share them here. That would make it a whole lot easier to understand your analysis.

Possible. That's one way we could complete the orange scenario in this triangle: https://bitcointalk.org/index.php?topic=5196072.msg55282472#msg55282472

A double zig zag to the $6,000s or $7,000s.....

I try to draw diagrams, but I leave analyzes that I do not think need diagrams or have a simple understanding without diagrams to challenge the reader's mind.
I have to say about 6000 or 7000 that it is a bit pessimistic and we should expect higher prices for zigzagging.

I wouldn't call it pessimistic, just a good buying opportunity. After a bull run like we saw in March-August, I would consider a 61.8% retracement (the $7,100s) to be very typical. Doesn't mean it's guaranteed, but it's something worth being prepared for.

Holding in the $9,000+ range is equally plausible. It's just too early to say.