Bitcoin is moving sideways for day, Where to from here?

[Tipstar]

We all know bitcoin has been moving between 17000 and 19000 and it's not showing any drastic move to a bull or bear but with such large increase in price, it's hard to imagine that the price has settled to this high.
Indicators are also giving mixed results. Daily buying and selling are around 50% each. Moving average are still indicating a rise.
A correction is imminent, but do you believe, there's still a bull run to come before the correction? Or would bitcoin not achieve it's ATH this time.

[jackg]

Corrections don't always mean down. Assuming we're overbought on the weekly or daily rsi we could just go sideways until we become oversold (since we're moving between 18500 and 17500...

We can go down from here and I wouldn't say its unlikely, but we could also go sideways for a few days or weeks and regain some momentum?

[el kaka22]

Usually that is called accumulation period. People do not have too much money to keep buying constantly and instantly to make it go up, but people do have incomes that they could gather and buy bitcoin slowly.

Compare it like this, you have 100k savings and you buy bitcoin, that helps the market to go up right? But you also have 1k weekly income that you can put into bitcoin, that takes 100 weeks (nearly 2 years) to put 100k into bitcoin right? That still helps in the long term but doesn't really change anything today.

At this point we are like the second one, it will definitely matter since tens of thousand probably millions of people buying every day, but there is no sudden huge purchase, it is all small by small accumulations that will increase the price after a while, but not right now.

[rhomelmabini]

That's why I'm being careful with my futures trade and still sticking on the lower leverage. This time continuing to get small sats little by little and still on leaning on the safe side trade. Moreover, I do really think that we could go down maybe on the 15k or 14k range, just my two cents.

[skarais]

It is almost certain that we cant predict with certainty where the price of bitcoin will move at this point in time. But usually when bitcoin is sideways after a bull run, the possibility of correction is huge and sideways are an indicator after bitcoin seem to have reached overbought. When the price cycle is unpredictable, consider selling a portion at each stage.

[ololajulo]

Am watching the price movement of ETH lately, if ethereum should pick up from here it might be difficult to predict the price movement of bitcoin. Ethereum picking up from here will move money to altcoins, its another cycle of getting money into altcoins before another bitcoin move. Some altcoins are not actually doing bad and the recovery of Defi. If bitcoin does not make 19k in 2 weeks we might wait till next year to break the ATH.

[daarul50]

We all know bitcoin has been moving between 17000 and 19000 and it's not showing any drastic move to a bull or bear but with such large increase in price, it's hard to imagine that the price has settled to this high.
Indicators are also giving mixed results. Daily buying and selling are around 50% each. Moving average are still indicating a rise.
A correction is imminent, but do you believe, there's still a bull run to come before the correction? Or would bitcoin not achieve it's ATH this time.

Dont get too excited or too early feeling upset.
Sometimes the market need to take a breath especially after that a little dump for a while .
People do aware now there is some people trying to sell a lot of bitcoin at once and ruuning the joy of this bullish.
This is just a response to that i guess.
Other than that we are still bull , there is no signal with this sideways the market will goimd down even after there is a correction very soon.

[sunsilk]

Achieving ATH or not this time, that's not important to me. It has showed strong resiliency and that's much better to look as perspective. Having that said, bitcoin could reach higher than the price it has shown lately.

As you have said, correction is imminent and that's the same as the bull run. If you don't think that this is a bull run then you have to consider that it's the start of a possible bull run which would make you believe that it is.

[ethereumhunter]

Maybe it's because the bitcoin price now is at the weekend, which usually, the price is down. And I think it is a good time for you to buy more bitcoin if you want, but you need to be careful because there is no guarantee for you to see the price will be staying at the current price. The bull run will come before or after the correction, but we don't know if that will happen or not. But I guess that the price wants to rise again because the price is trying to break every price above.

[leonix007]

Am watching the price movement of ETH lately, if ethereum should pick up from here it might be difficult to predict the price movement of bitcoin. Ethereum picking up from here will move money to altcoins, its another cycle of getting money into altcoins before another bitcoin move. Some altcoins are not actually doing bad and the recovery of Defi. If bitcoin does not make 19k in 2 weeks we might wait till next year to break the ATH.

Same here, Checking from its history makes it a bit low price where BTC has its level of pricing as of today, I am waiting for some consolidations and a break out to confirm a buy. thus unsure of ETH demands as well on these coming days.

[covfefe_]

Am watching the price movement of ETH lately, if ethereum should pick up from here it might be difficult to predict the price movement of bitcoin. Ethereum picking up from here will move money to altcoins, its another cycle of getting money into altcoins before another bitcoin move. Some altcoins are not actually doing bad and the recovery of Defi. If bitcoin does not make 19k in 2 weeks we might wait till next year to break the ATH.

Same here, Checking from its history makes it a bit low price where BTC has its level of pricing as of today, I am waiting for some consolidations and a break out to confirm a buy. thus unsure of ETH demands as well on these coming days.

Ethereum would be much riskier in my opinion. In case bitcoin goes a massive rise, Ethereum would be affected as people would sell it to buy bitcoin and if bitcoin crashes, it would crash the whole crypto market with it.
The best option would be to keep buying bitcoin at the moment and take small profits while holding some for 20K with a stop loss at 16.5K.

[BrewMaster]

you can't expect the price to rise up $1000 every day, so it is obvious that when we have a major rise when an important resistance is broken there should be some time off for a small correction and a little bit of accumulation before we see another price rise. so far we had that, and this sideways is not even long enough to be enough accumulation phase.

where we go from here is a short window of opportunity to accumulate before another price rise then there is a good chance that we see a panic sell the moment $20k is touched or is close.

thus unsure of ETH demands as well on these coming days.

interesting enough they have been trying so hard to pump ethereum for the past weeks but have been failing consistently. with bitcoin price rise there was a very small rise in ETH's USD price rise that helped revive its market a little but the dump of it against BTC is still going on strong.

[Yudhisthir]

Bitcoin now is over 18.8K. A new high for last couple of years. The price is volatile and it's getting tense as investors and holders are in dilemma whether to buy or sell. The price fluctuations could be good for day traders. Most of the people that bought before and after the last hike are now in profit. It would be wiser to take some profit and keep a small amount to watch how market progress.

[judaspriest]

the weekend has come, we will see how bitcoin reacts,
usually on weekends there will be a pump and dump, and a determination on Sunday,
if the candle is bullish then we will see one more rally, if the candle ends bearish, correction will come.

[CODE200]

Corrections don't always mean down. Assuming we're overbought on the weekly or daily rsi we could just go sideways until we become oversold (since we're moving between 18500 and 17500...

We can go down from here and I wouldn't say its unlikely, but we could also go sideways for a few days or weeks and regain some momentum?

Nature of uncertainty with this market. Things could happen either in line with our expectations or the other way around. But the fact that it's price managed to go as high as it is at this moment, that is already something to celebrate. We'll, to those who just invested recently, it might not be. That's true; things are not yet assured especially regarding to thoughts of surpassing it's ATH unless we see it on the actual. So more likely, waiting is all we can do right now.

[qualitywork]

the weekend has come, we will see how bitcoin reacts,
usually on weekends there will be a pump and dump, and a determination on Sunday,
if the candle is bullish then we will see one more rally, if the candle ends bearish, correction will come.

Yes, most of the fluctuations occur during the weekend especially negative news as we see red candles during the weekend if we consider the last two weeks the value of bitcoin increased during the last two Friday and Saturday but dropped on the last two Sundays. Let's monitor how it goes this Sunday and compare it with few more weeks to understand the pattern.

[dothebeats]

Weekly RSI says that we have long been overbought, though the constant tension between sells and buys in exchanges equilibrates that in a way that there is little to no movement in a day. I suppose we're heading towards a retrace back to the milder ranges of $15000 and $16000, though it is also likely that the buying pressure overwhelms the sells and we can set foot @ $19000. Right now, most of the sells are positioned @ $18800 and $19000, and those levels are definitely the main hurdles that could stall the movement towards the previous ATH. I wouldn't mind if the market would go sideways from here for a few weeks, given that we have had rises for a month and a half straight. Maybe the money isn't really there just yet, but people are still reluctant to sell since they believe that we might even get a greater push from where we are right now.

[leonix007]

I suppose we're heading towards a retrace back to the milder ranges of $15000 and $16000, though it is also likely that the buying pressure overwhelms the sells and we can set foot @ $19000. Right now, most of the sells are positioned @ $18800 and $19000, and those levels are definitely the main hurdles that could stall the movement towards the previous ATH.

Another thing to watch imho is the breakouts from the 20k levels, if an ATH formed then definitely BTC stories will explode, an interesting moments for crypto's, a weekly chart Higher High possible target at 160k

[slapper]

It is a good sign. From my opinion, sideway means that people are amassing bitcoin. Just look at the volume. Very very stable without any significant sign. I currently dont have laptop to show my specific opinion

We are in a good momentum. With this uptrend, soom we will surpass our ATH in this year. There are more than a month left. Too much time for investors to join the game

[Casdinyard]

It is a good sign. From my opinion, sideway means that people are amassing bitcoin. Just look at the volume. Very very stable without any significant sign. I currently dont have laptop to show my specific opinion

We are in a good momentum. With this uptrend, soom we will surpass our ATH in this year. There are more than a month left. Too much time for investors to join the game

The way it stabilises at a certain price point I think, is what making other people or investors perhaps, hesistant with their actions at this moment. Some are doubting to keep on holding and are having thoughts of selling in order to assure profit will be earned. Some are even scared to invest at this point because the price is already high and there's no assurance that the market price will continue increasing on the next days of Bitcoin for this year. Possibility is two-sided; chance for the price to rise, and also tendency for the price to suddenly fall. We just never know.