Bitcoin penetrates into $17 000

[ethereumhunter]

That sell order of $6 million at $17,000 didn't even become a sell wall. It proved to be a very small amount quickly gobbled up by the buy orders. I cannot say with certainty but this is most likely the road to a new all time high within the year.

In fact, if we look at the circumstances of Bitcoin right now it is even much better than it was in 2017. So there is really a positive outlook that $20,000 is not the ultimate target in 2020. We will have to raise it somewhere at $25,000 to $30,000.

I guess that sell order was canceled before the price increase more. With the price now, I think there will be a big wall at one level price to hold bitcoin price not to soar too high. Maybe this time, bitcoin will have more power to lift the price until the price can be back at $18k and still increase to $19k. We will see the price start the rallies and break the big wall at $20k to go to the next high price.

That was a good decision as the price rose to more than $18,000 after that. If he were able to sell that at $18,000, he could wait for the price to fall down to around $17,000 and buys back. Right now, we are at a correction. Who knows until which support this will fall. I doubt this will fall below $17,000 though. This is probably just a quick one and another bounce will happen which will probably opens up the $19,000 level.

Indeed. Now, the price is down again to $17,500. I think it will stay like that until the weekend, so the price will have a chance to start rallies again in the next week. The price is still at the correction and we might see another drop if people panic to see the price and the red candle at the market. We can hope that the price will be like that, and don't drop too far because it will need more time for the price to increase. The next target will be at $19k, and I am sure that the price will have the opportunity to touch that price.

[blckhawk]

It was a warm welcome move by the bitcoin.Long holding traders can sell your bitcoin with equal to 18,000$.We don't know ,whether it happen again.The expectation was  over a 20,000$ before the end of this year.But no one can predict the bitcoin 100 percentage.So holding is also on your own risk.

Already sold my stash that is intended for short term but i do still accumulate for long term ones but my guts telling me that 18k would be the peak for now and there would be some correction.

Well, i might be wrong but it isnt really bad to make some sell at the moment yet this is the sweetest spot and dont wait up if you do still have the opportunity to sell.

These chances doesnt come once in a while so better utilize it but its up to someones choice because we do have our own level of risk management.

It's not bad decision I'd say $18k worth is already a good mark and good profit as well if you buy it on low price. And leaving some for your long term was a great decision as well. We can't say how it will move after all. We better to take the opportunity we have rather than waiting for more because we might lose it and regret it later, in other words don't be greedy.

[STT]

Subject to pullback right now that Iam observing it, how much is the speculative hard to call really but I will post up my chart so you can see the lines in the sand as Ive drawn them anyhow.



Nothing complicated as I dont believe in a chart without clarity for likely giving me much predictive confidence.   So we've lost 2 day average for the moment which is very fast momentum measure but lately thats been the spirit of BTC.    Then the top line here is the upper edge of the bullish channel and again we challenge this and below in a mirror of that I'd call the lower trend as probable range for today.    So target downside for now is below 17k which maybe disappoints some but 16.5k is reasonable pullback for the progress upwards to continue.   Also weekly average is about 16.5k and similarly I consider that more vital to positive phase in BTC continuing.

[Fundamentals Of]

That sell order of $6 million at $17,000 didn't even become a sell wall. It proved to be a very small amount quickly gobbled up by the buy orders. I cannot say with certainty but this is most likely the road to a new all time high within the year.

In fact, if we look at the circumstances of Bitcoin right now it is even much better than it was in 2017. So there is really a positive outlook that $20,000 is not the ultimate target in 2020. We will have to raise it somewhere at $25,000 to $30,000.

I guess that sell order was canceled before the price increase more. With the price now, I think there will be a big wall at one level price to hold bitcoin price not to soar too high. Maybe this time, bitcoin will have more power to lift the price until the price can be back at $18k and still increase to $19k. We will see the price start the rallies and break the big wall at $20k to go to the next high price.

That was a good decision as the price rose to more than $18,000 after that. If he were able to sell that at $18,000, he could wait for the price to fall down to around $17,000 and buys back. Right now, we are at a correction. Who knows until which support this will fall. I doubt this will fall below $17,000 though. This is probably just a quick one and another bounce will happen which will probably opens up the $19,000 level.

Indeed. Now, the price is down again to $17,500. I think it will stay like that until the weekend, so the price will have a chance to start rallies again in the next week. The price is still at the correction and we might see another drop if people panic to see the price and the red candle at the market. We can hope that the price will be like that, and don't drop too far because it will need more time for the price to increase. The next target will be at $19k, and I am sure that the price will have the opportunity to touch that price.

The price is approaching $18,000 once again as of this moment. The correction is through and it was nothing but a very tiny one. That was hardly even a correction. For now the target is just $18,000. But once it breezes through that, $19,000 will be an easier target.

The resistance will definitely be very hard at $20,000. That must be the strongest one in this bull run. I am sure there are a lot of sellers at that price level. We will see whether the demand can absorb the selling pressure.

[dragonvslinux]

Subject to pullback right now that Iam observing it, how much is the speculative hard bit to call really but I will post up my chart so you can see the lines in the sand as Ive drawn them anyhow.



Nothing complicated as I dont believe in a chart without clarity for likely giving me much predictive confidence.   So we've lost 2 day average for the moment which is very fast momentum measure but lately thats been the spirit of BTC.    Then the top line here is the upper edge of the bullish channel and again we challenge this and below in a mirror of that I'd call the lower trend as probable range for today.    So target downside for now is below 17k which maybe disappoints some but 16.5k is reasonable pullback for the progress upwards to continue.   Also weekly average is about 16.5k and similarly I consider that more vital to positive phase in BTC continuing.

I also arrived to similar conclusions about a short-term pull-back, in summary somewhere between $16.6-17K to maintain bullish momentum, based on a parallel channel of support. Failing this, I find $14-15K to be increasingly likely (-15-25%). But first bears would need to break the support trend-line before gaining any hope of a deeper correction.

[ethereumhunter]

The price is approaching $18,000 once again as of this moment. The correction is through and it was nothing but a very tiny one. That was hardly even a correction. For now the target is just $18,000. But once it breezes through that, $19,000 will be an easier target.

The resistance will definitely be very hard at $20,000. That must be the strongest one in this bull run. I am sure there are a lot of sellers at that price level. We will see whether the demand can absorb the selling pressure.

I am very positive about this, and I am sure that the price will go up to more than $18k. Although the correction is not too deep, we need to be careful because there is no guarantee that the correction will not come again after this. I guess that after the price can increase and jump to $18,500, the price will have many fluctuations before it breaks $19k. That can make us and many people panic and will think that the price can be dropped anytime.

To reach $20k is not easy, and we still need more than $2,000. Whether it will happen this month, next month, or even next year, we need to hold our bitcoin and wait for the next highest price. I guess that once the price can break $20k, many people will sell their bitcoin at that price, and they will not wait too long to make a profit.