What will happen next if the resistance breaks?

[carter34]

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.

I think on the other side, bitcoin has shown a very strong resistance not to fall since corona virus. Yes, unlike people believed it was going to drop because people weren't allowed to go out for work but that became an advantage for bitcoin. At the moment, the price is not in bad shape as it is still above $10,000.

[F_Societys]

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.

With the arrival of Corona, everything was affected.
And bitcoin was affected by this global atmosphere, albeit with a slight delay, which I think was due to the whales' support for the 12,000 resistance.
Expectations have also risen to 11,000 and above, although the current channel can be seen to be stable. There has been a 0.068% drop in prices over the past 24 hours.

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.

The meaning of relative resistance stability is in a fixed range and we can never say that bitcoin will remain in the 12000 channel this year !!

I also agree with you that in case of failure more buyers will come to Bitcoin and this will be a good reason to increase it.

[F_Societys]

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.

As you said, we saw that 10,700 were broken in a few hours and it can be said that the resistance has not been fully formed yet.
Also, the season of bitcoin ups and downs is not clear and it can be said that it may reach 10,800 or 11,000 by the end of the year.

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.

Bitcoin has shown itself to have enough time and also in a situation where most people are unemployed and looking for a way to earn money.

I also think that bitcoin advertising has increased so much that when we open Instagram, it started with at least 2 posts about bitcoin.

[beerlover]

I am not sure if people assume 20k is that easy, I fear that people already know that we are not going to be too low anymore which is great but the fear is the fact that many will think it is going to be hard to get to 20k again. Sure there are tons of people who start topics like "bitcoin going to 100k!!" or so whenever we increase, if this month we become 13-14k you will see that not only 20k but there will be topics for 200-400 even 1 million per bitcoin topics, that type of hyperbole unfortunately happens anytime it goes up or down.

However the real investors, people with money knows that it is not going to be really that high anymore, it is going to be probably 14-16 range any time soon and thats it, I am not seeing anything bigger than that from bitcoin.

[tabas]

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.

Bitcoin has shown itself to have enough time and also in a situation where most people are unemployed and looking for a way to earn money.

I also think that bitcoin advertising has increased so much that when we open Instagram, it started with at least 2 posts about bitcoin.

It's where the misconception starts. Because of unemployment, they think that bitcoin is a savior to them and it will employ them or will make them money during their unemployment. But it's not the actual thing that happens, it wouldn't just count and give them profit that quick.
Especially the new, that's their mindset and they've seen others make money and so do they think the same and it will be easy for them.

[Ridwan Fauzi]

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.

[F_Societys]

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.

People expect higher prices from bitcoin and 10,000 resistance is the minimum price they accept, so the real price of bitcoin is not 10,000 and it deserves higher prices.
Also about the war with bitcoin, it should be said that many governments are against the presence of bitcoin, because they see the value of their national currency declining, and this is a sign of the power of bitcoin.

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.

Maybe it also makes sense that, as you said, we will see a drop in prices after a few weeks of resistance in the range of 10,000 and reach lower levels.
Also, as you said, we were all waiting for the price to rise in August, when the fall suddenly started.
And in general, I have to say that we have to expect everything. Sometimes bitcoins and (whales) stir the market with falling or rising prices.

[carlisle1]

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.

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.

[gabbie2010]

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 the price had been respecting a horizontal channel which act as resistance at $11K and support at $10K with reference to daily timeframe its very obvious that the support at $10k was strong such that the price couldn't break that zone downward an indication that the bulls are still in control of the market, while the price stays above $10K, once the price breaks out of the resistance of the channel and pullback or retrace to the resistance turned support its is sure passage to the next resistance at $12K this is from my own technical analysis point of view.

[SquallLeonhart]

Considering we are going above $10.5k constantly and the price is trying to break those $10.8k levels in order to reach $11k, doesn't it look like it is going to happen soon? Over $11k is not something we would have hard time doing if you ask me, it all takes some buyers and a bull hype and if we get that, just a tiny bit the people who call out 100k or even 1 million will come back and that will create even a bigger hype where tons of people will invest fearing they will miss out.

Going above $11k also indicates that going above $12k is easier as well, usually when bitcoin price goes up it goes up all together very high, not just tiny bit. So, we just need one bull run for that to happen, if we have one bull run to break the next resistance we are breaking few after that too.

[target]

It looks like the price is going to stay this range for some time. We've seen many times that BTC pumps hard that it breaks resistance almost in just a day and  it might just be the case to break the $12k. It think its still the case that when BTC price goes up, every thing else goes up too. We just even look at the chart of BTC to summarize the crypto market.

When there are so much demands, traders sells a lot because and it will test the support level just as the bid orders tests resistances. Breaking out means another selling price to break.

[lifeOK]

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...

[ScamViruS]

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...

I prefer to wait at the moment. Because now that the market is in place, this is an important time, no one wants the market to be dumped from here. Now, like the traditional market, the Bitcoin market is also affected by the news and the world economy.

So being careful in advance is not a bad thing. $10k is not a big resistance, the market is at this level only traders are confident that it will not go down again. I will only assume that there has been a big breakout when the price of Bitcoin will be above $11k.

[dunfida]

I am not sure if people assume 20k is that easy, I fear that people already know that we are not going to be too low anymore which is great but the fear is the fact that many will think it is going to be hard to get to 20k again. Sure there are tons of people who start topics like "bitcoin going to 100k!!" or so whenever we increase, if this month we become 13-14k you will see that not only 20k but there will be topics for 200-400 even 1 million per bitcoin topics, that type of hyperbole unfortunately happens anytime it goes up or down.

However the real investors, people with money knows that it is not going to be really that high anymore, it is going to be probably 14-16 range any time soon and thats it, I am not seeing anything bigger than that from bitcoin.

In a market like this then we cant really avoid to see those permabulls on giving out those very high price speculation and imagine on saying out $1M per coin
is totally unrealistic or unbelievable if we do just base on the current movement that we are taking then we can definitely say that even reaching out ATH
would already be a hard and would really take up for some time but who knows if we would reach up it soon but that would be a definite time.
It all matters with the demand and if we do see the similar situation in last quarter of 2017 then we might shoot up but i dont see that we would go past
into those 6 digit unrealistic numbers.Breaking resistances and supports is always been part of this speculative market.

[F_Societys]

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.

I think on the other side, bitcoin has shown a very strong resistance not to fall since corona virus. Yes, unlike people believed it was going to drop because people weren't allowed to go out for work but that became an advantage for bitcoin. At the moment, the price is not in bad shape as it is still above $10,000.

The current price and resistance is amazing considering the Corona virus.
This resistance is well supported and it can be seen that people have resorted to bitcoin in addition to securing capital.

I am not sure if people assume 20k is that easy, I fear that people already know that we are not going to be too low anymore which is great but the fear is the fact that many will think it is going to be hard to get to 20k again. Sure there are tons of people who start topics like "bitcoin going to 100k!!" or so whenever we increase, if this month we become 13-14k you will see that not only 20k but there will be topics for 200-400 even 1 million per bitcoin topics, that type of hyperbole unfortunately happens anytime it goes up or down.

However the real investors, people with money knows that it is not going to be really that high anymore, it is going to be probably 14-16 range any time soon and thats it, I am not seeing anything bigger than that from bitcoin.

If people are waiting for the price of 20,000, I do not think we will see this price in the next 2 years.
Regarding the long-term analysis of Bitcoin, it must be said that it is a very difficult task, and those who talk about prices of 100,000 or more, their only logic is based on imagination.

[F_Societys]

It's where the misconception starts. Because of unemployment, they think that bitcoin is a savior to them and it will employ them or will make them money during their unemployment. But it's not the actual thing that happens, it wouldn't just count and give them profit that quick.
Especially the new, that's their mindset and they've seen others make money and so do they think the same and it will be easy for them.

They make some money this way and think they are always going to make a profit this way.
And we know that bitcoin is not always profitable and always comes with the sweet days of the bitter days.

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.

If the current triangle is formed, it will most likely have to wait for the price to rise to $ 11,000. Also, whales do not fully control the market. Rather, most of Bitcoin is in the hands of ordinary people and investors, and you can watch the rise of Bitcoin without making wrong and emotional decisions.

[F_Societys]

Considering we are going above $10.5k constantly and the price is trying to break those $10.8k levels in order to reach $11k, doesn't it look like it is going to happen soon? Over $11k is not something we would have hard time doing if you ask me, it all takes some buyers and a bull hype and if we get that, just a tiny bit the people who call out 100k or even 1 million will come back and that will create even a bigger hype where tons of people will invest fearing they will miss out.

Going above $11k also indicates that going above $12k is easier as well, usually when bitcoin price goes up it goes up all together very high, not just tiny bit. So, we just need one bull run for that to happen, if we have one bull run to break the next resistance we are breaking few after that too.

The 10,600 resistance has stabilized and is likely to rise to 10,800 and then to 11,000.
Breaking this resistance is not so far-fetched and can be hoped for.
Interestingly, when I talk to my friends about the price of 12,000, they say it is unexpected and impossible.
But a few months ago we were in the 12,000 resistance and we saw those days.
And I think we will go back to those days.

It looks like the price is going to stay this range for some time. We've seen many times that BTC pumps hard that it breaks resistance almost in just a day and  it might just be the case to break the $12k. It think its still the case that when BTC price goes up, every thing else goes up too. We just even look at the chart of BTC to summarize the crypto market.

When there are so much demands, traders sells a lot because and it will test the support level just as the bid orders tests resistances. Breaking out means another selling price to break.

If we look at the increase in public demand, we see that the price of Bitcoin will increase with it.
And the current price is a period of latency. Bitcoin is preparing for higher prices and we will see this in a few weeks.
Also in this case, I think the corona virus is more for the buyer than the seller for sale.

[n0ne]

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.

[goaldigger]

It's where the misconception starts. Because of unemployment, they think that bitcoin is a savior to them and it will employ them or will make them money during their unemployment. But it's not the actual thing that happens, it wouldn't just count and give them profit that quick.
Especially the new, that's their mindset and they've seen others make money and so do they think the same and it will be easy for them.

They make some money this way and think they are always going to make a profit this way.
And we know that bitcoin is not always profitable and always comes with the sweet days of the bitter days.

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.

[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.