Analysis of recent Bitcoin fluctuations

[mr_ROBOTT]

Hello
Given recent events such as PayPal and other events, I do not think Bitcoin will leave the 12,000 channel and we can expect good resistance.
Of course, I myself converted some bitcoins for fear of a sharp fall,
and I think the election and the corona will have an impact on bitcoins.
5-day Bitcoin chart:




Image source:https://www.tradingview.com/chart/?symbol=BITSTAMP%3ABTCUSD


Also, in today's market, the dollar has a lot of fluctuations,
and I think we should have a look at the price of the dollar.



Source:https://www.tradingview.com/symbols/TVC-DXY/

Result:
Bitcoin showed that it does not have enough resistance in the 13000 channel
and it can be good news that Bitcoin will remain in the 12000 channel
and needs to be further stabilized in order to reach higher channels.

[Fortify]

"I do not think bitcoin is going to leave this channel, but I sold some bitcoin recently anyway".

This is not really any sort of quantative analysis, you're just guessing and adding a few chart images to your thread. While it's nice to have a reminder of the current bitcoin heights, it's a bit misleading to pretend you have added any useful insights with absolutely no detail to back it up. Maybe stop pretending to be a trader?

[DeathAngel]

Day trading never works well, I’ve seen so many of that type come & go after getting REKT over the years.
Just HODL your bitcoin’s at least until the end of next year, I guarantee you’ll make far more $ doing that than trying to trade.

[jackg]

"I do not think bitcoin is going to leave this channel, but I sold some bitcoin recently anyway".

I don't trade breakouts because it normally goes the opposite way or I forget to put it in .

I'd wait for a break of 14000 or 10800 before getting a good suggestion of where we're going next though. We seem to be at a fairly major resistance now around the 13k-13.1 so we'd have to wait until we get a rejection or a strong follow through.

Day trading never works well, I’ve seen so many of that type come & go after getting REKT over the years.

It does seem there aren't many here that know how to actually manage risk and just put everything on one call... But that's the same as with the stock market in these times so...

I've seen people have some level of accuracy though too, like 80+% accuracy (but even then their execution can be floppy for some reason people don't like to end up with 3-10% profit at target one and think they'll get somewhere aiming for target 8 🙄).

[hossamdz]

Long story short , we see that bitcoin price is moving above 13k $ levels , according to technical analytic basics , if the price can hold on for another few days , maybe a week above that level with the same volume , i can say that the road is clear to 14k $ then later we can see 20000$ again,thats what i think

[ultrloa]

"I do not think bitcoin is going to leave this channel, but I sold some bitcoin recently anyway".

This is not really any sort of quantative analysis, you're just guessing and adding a few chart images to your thread. While it's nice to have a reminder of the current bitcoin heights, it's a bit misleading to pretend you have added any useful insights with absolutely no detail to back it up. Maybe stop pretending to be a trader?

In this post, I expressed my personal opinion and I did not mean to sell bitcoin by its collapse.
Very large people invest in several baskets and never make a profit with one thing.
I hoped you, (the great analyst), would know this.

They never made a profit because they are afraid to lose when market fluctuate, hopefully some great analysis given could really help those people who doubt about the current market condition since by now we are at positive sides.

Long story short , we see that bitcoin price is moving above 13k $ levels , according to technical analytic basics , if the price can hold on for another few days , maybe a week above that level with the same volume , i can say that the road is clear to 14k $ then later we can see 20000$ again,thats what i think

$14k path is so clear and provably we will see those figures in next following months.

[thecodebear]

Welp, stocks and bitcoin dropped yesterday, but bitcoin only fell a little bit to $12.8k (altcoins fell more precipitously) and recovered to $13000 by end of the day. Now it's moving up further, at $13,400 right now. This week could definitely bring $14k, though I would expect a correction back to $11,000s, and then building a support level probably in the $12000s, at some point before end of year. Perhaps seeing $15k in Jan or Feb.

[GreatArkansas]

Recently, I am really watching closely the huge horizontal support of Bitcoin is $10,000 and it really shows a strong one before, even bears try to break and close below the $10,000 on the daily time frame, but they failed, almost 2 months that we don't close below $10,000 before.

Now the next target again that we will build strong support is the $12,000. Volatility these past few weeks on Bitcoins becomes not that so strong, it kinda becomes neutral as we slowly near to the all-time-high.

[error08]

The current price is $13,400 as we know that bitcoin price fluctuations and resistance above $12,700 more than a week now, show that it still on the good way to reach a higher mark, the support seems to be at $12,700 and the resistance at 13200, expected to hit over $14,000 in the next few days. a better choice to sell above $13,800 imo.



source

 

[crwth]

That’s the closest event that we know of and Possibly prepare for. I’m not sure what The candidates have anything with Bitcoin, but that's when I think it will affect the price of Bitcoin. For now, we can just enjoy that it's currently in the $13000 range. Hopefully there’s Another breakout.

[Fundamentals Of]

The price right now is more than stabilizing. $13,000 is not a price we should be afraid of because that is just a price level Bitcoin seems to simply pass by very quickly. Right now, the price has just breezed past $13,000 and is already gone even higher than $13,400.

This is something more than the Paypal news. This is bull run right now. I think we can even see $15,000 very very soon.

[jaberwock]

The bottom zone looks quite comfortable right now, I agree that we are not going to suddenly drop, there is no reason for it at least and that is quite important distinction, but we may never know until it is too late so I assume its going to be basically a road that is easy to take right now. However the tough part right now is the fact that even if we do not go down, even if it looks like we have a good support zone, it doesn't mean the price will go up. Just because we are at 13k and we do not see 12k possible right now, but doesn't mean it won't be 15k neither, that is another thing.

So, let's see whats going to happen, if things are like this I sense another stable period, just like the one we had at around 10k-11k we are going to see another from 12k-14k range.

[Mahanton]

The price right now is more than stabilizing. $13,000 is not a price we should be afraid of because that is just a price level Bitcoin seems to simply pass by very quickly. Right now, the price has just breezed past $13,000 and is already gone even higher than $13,400.

This is something more than the Paypal news. This is bull run right now. I think we can even see $15,000 very very soon.

It reached 13700+ a while ago and now it fluctuates to 13400 and now we are stabilizing somehow in 13600+ price which isnt really that  too big of a leap on 13k price a day ago.
Honestly, we are just moving too fast but im aint saying that im not happy with it but with this kind of movement, im already expecting for some nasty correction soon but
i dont see for the price to go back below 10k but somewhat we are above into that level in case there would be a huge sell-off.Its really hard to presume out if this run
will continue or not but with this intensity of movement then 15k is indeed achievable for this year alone.

[Harlot]

The recent pumps Bitcoin is having IMO is a scary thing to see because of it lacking the volume needed to show that Bitcoin is indeed in a bullish run. If you look at the charts you will see that Bitcoin is going up but the volume of it isn't really improving and it is even decreasing, you can easily translate this too people who are whales are just pumping Bitcoin without any kind of follow up demand from regular traders. We might just be seeing a heavy kind of manipulation and the worst is a big drop might be inevitable.

[tabas]

Just HODL your bitcoin’s at least until the end of next year, I guarantee you’ll make far more $ doing that than trying to trade.

This suggestion makes sense.
As a holder, I've never been on the losing side until I've sold at the right price. The resistance could be now higher than those that I've heard before bitcoin's struggling to enter at $13,000. It's about to close to $14,000 and I think it's only a matter of time that it will.

[pooya87]

Hello
Given recent events such as PayPal and other events, I do not think Bitcoin will leave the 12,000 channel and we can expect good resistance.

"good resistance" is only when there is a major resistance that has certain conditions. for example a resistance that hasn't been broken for a long time despite multiple tests. $10k was like this, the $4k last year was also like this.
but when these resistances are broken, the higher levels are so much weaker. the next biggest one is the previous ATH.
as you can see price is currently closer to $14k ignoring all the lower so called "resistances" due to the strong momentum.

Of course, I myself converted some bitcoins for fear of a sharp fall,

and you lost money because of that...

"sharp falls" happen when there is a bubble or some kind of huge and negative news that could cause panic sell. we had neither.

and I think the election and the corona will have an impact on bitcoins.

US election has 0 effects on bitcoin and COVID has already affected bitcoin many months ago.
now we are seeing the "positive effects of COVID" on bitcoin because the governments decided to crash the value of fiat by printing a lot of it and causing inflation.

and needs to be further stabilized in order to reach higher channels.

that is called momentum.
stabilized price is for accumulation phase not for the rally.

[kentrolla]

The price right now is more than stabilizing. $13,000 is not a price we should be afraid of because that is just a price level Bitcoin seems to simply pass by very quickly. Right now, the price has just breezed past $13,000 and is already gone even higher than $13,400.

This is something more than the Paypal news. This is bull run right now. I think we can even see $15,000 very very soon.

Infact this kind of situation is quite common when BTC increases so much it reminds me the day when it was over the moon, traders and holders will be wondering like Bull run is possible and I believe this resistance will continue.

For time being investors should wait for investment as this moment is risky and anything is possible.

[el kaka22]

Basically people are not going to react and think the same way all the time, you can think that bitcoin will continue to go up, but you could also sell because you are afraid, so I do no condemn him for saying one thing but doing another thing, I have done that type of things a lot in my life so I can totally understand him.

However one thing we should be focusing on is the fact that he mentioned that bitcoin could go up and it would be over $12k which it has so far and reached all the way to $13.6k which is a new high that we saw in 2019 as well so not that long time ago but still a new high, and I think this new 2x from the start of the year is a good indication that we all should be happy about the current situation without making grand claims like OP does, just be happy and move on.

[Fundamentals Of]

The price right now is more than stabilizing. $13,000 is not a price we should be afraid of because that is just a price level Bitcoin seems to simply pass by very quickly. Right now, the price has just breezed past $13,000 and is already gone even higher than $13,400.

This is something more than the Paypal news. This is bull run right now. I think we can even see $15,000 very very soon.

Infact this kind of situation is quite common when BTC increases so much it reminds me the day when it was over the moon, traders and holders will be wondering like Bull run is possible and I believe this resistance will continue.

For time being investors should wait for investment as this moment is risky and anything is possible.

There will always be resistance. It cannot be totally removed. But as the bull run is becoming stronger, resistance are shattered one after another. Right now the rise is quick and strong that it easily broken several resistance along the way. Bull run is always possible. And right now I believe this is a bull run.

Anytime, crypto investment is risky. If you will wait because the moment is risky, you will end up waiting all the time. Anything is possible all the time as well. You just have to weigh the possible scenarios and act on them.

[traderethereum]

After bitcoin gets down for a while, the bitcoin price wants to increase again, but we need to be careful because the price can get down again.
It seems to adjust the price comes on this day, but I am sure everything will be back to the high price.
Who knows, after this, we will see bitcoin price will have more chance to break $14k, which we almost see it before.
Maybe we can hold bitcoin for more, and if the price is down, maybe you can try to buy more amount, so when bitcoin price is start rally to the high price, you will make more profit.
But if you think that you don't have to buy more bitcoin, you can watch the price move up and down without doing anything.
But remember that you don't need to panic if the price is down because that is just temporary, and the price will go up after the price down.