Bitcoin Up Move Incoming

[ImThour]

As the topic title says, here is a Daily Timeframe chart that shows how Bitcoin broke the resistance trendline and is now at a great 0.33 Fibonacci support level.
It will be going up for sure from here and the first target will be the 0.66 Fibonacci Level i.e. $29.4k and then $31k.



Let me know what do you think is about to happen.

[Tytanowy Janusz]

Let me know what do you think is about to happen.

This looks good, beside Fib, the short-term downward trend that has been going on since June has been broken. It should be noted, however, that the movement is not supported by volume, and there is strong resistance ahead at the levels 28.5k-29k, which may constitute the frame of the H&S formation.

So we have to be careful, but the situation is certainly better than in recent weeks.

[Dunamisx]

As the topic title says, here is a Daily Timeframe chart that shows how Bitcoin broke the resistance trendline and is now at a great 0.33 Fibonacci support level.
It will be going up for sure from here and the first target will be the 0.66 Fibonacci Level i.e. $29.4k and then $31k.



Let me know what do you think is about to happen.

It showing many indications as well for more of rising than falling this current month and the market is particularly viewed to go from henceforth from now more higher than dip, there's a rise to move closer to $28,000 and from there still move ahead when the resistance is held and we get back to $30,000 and more consequently, this October is a month of market pump than dump and this will also be a profitable season for those who recently buy because there will soon be a massive shift to rise the market more high than before and the resistance against such is weak.

[Don Pedro Dinero]

It will be going up for sure from here <...>

What degree of probability do you assign to the rise? Charts, however logical they may seem, can always fail. I tend to think quite probabilistically, even though I don't rely on charts as I invest for the long term, but I trust someone's prediction if he gives a percent estimate of the next market movement according to his analysis more than someone who says that the price is going to go up for sure, which would be the same as assigning a 100% probability. We have to think that there is a world outside the analysis, and a negative news can pull the price down.

[coolcoinz]

I also think that we're coming back towards 30k, although when people start saying that we're going to go to this or that level, it usually doesn't happen.
When we were at 31k, people were talking about a bull market and 40k, but we went down
When we went back to 24k people were predicting a fall to 22k because if we used to be at 24, failed to start a bull market, then we must be going lower, and we know how that went
Now we're going up and people are certain we'd go back to retest 30k, but what if we won't because those that manipulate the markets are waiting for enough longs to be set so they can liquidate them?

I know, I'm a conspiracy theorist.

[Tytanowy Janusz]

What degree of probability do you assign to the rise? Charts, however logical they may seem, can always fail. I tend to think quite probabilistically, even though I don't rely on charts as I invest for the long term, but I trust someone's prediction if he gives a percent estimate of the next market movement according to his analysis more than someone who says that the price is going to go up for sure, which would be the same as assigning a 100% probability. We have to think that there is a world outside the analysis, and a negative news can pull the price down.

news that appears out of the blue and changes the fate of the market, called a "black swan", is an unpredictable phenomenon that no one ever includes in statistics because it is unpredictable. The probability you are talking about, which you see in the analyses, relies on statistics (e.g. A falling wedge is a technical analysis pattern with a predictive accuracy of 74%. The pattern can break out up or down but is primarily considered bullish, rising 68% of the time.)

In other words, when someone gives the probability, it is not because he predicts that an unpredictable phenomenon may occur with a 30% probability XD

[taufik123]

It will be going up for sure from here <...>

What degree of probability do you assign to the rise? Charts, however logical they may seem, can always fail. I tend to think quite probabilistically, even though I don't rely on charts as I invest for the long term, but I trust someone's prediction if he gives a percent estimate of the next market movement according to his analysis more than someone who says that the price is going to go up for sure, which would be the same as assigning a 100% probability. We have to think that there is a world outside the analysis, and a negative news can pull the price down.

Each analysis has its own probability and it cannot be determined only from a technical analysis.
There is no 100% probability, that every analysis will definitely have some errors or discrepancies with the current price reality.

There will be other factors that affect the probability of an increase in bitcoin prices such as Fundamental Analysis,
government regulations and several other influences.

You may rely on long-term investment, it is the best and there is no need to read the chart in detail.
All you need is to enter at the right time and then hold with a certain price target and certainly have money reserves to buy back.

But be aware that every investment or trade has its own risks.

Seeing how the Bitcoin market conditions in Q4 are currently, it is quite optimistic that significant price movements will occur soon.
October will be a reversal month that could be the beginning of Bitcoin reaching ATH again next year.

[Natsuu]

As the topic title says, here is a Daily Timeframe chart that shows how Bitcoin broke the resistance trendline and is now at a great 0.33 Fibonacci support level.
It will be going up for sure from here and the first target will be the 0.66 Fibonacci Level i.e. $29.4k and then $31k.



Let me know what do you think is about to happen.

I expect it to be a fake move. For me this early month of October coming to early November, we might see price still trading lower. And then late November coming to December would be an upmove. For me we're still in a bearish trend. unless there's good economic news that would drive BTC's price higher to $32K with a fast bullish candle, only then I can tell that my initial analysis would be wrong and more likely to be on the upside.

That's how my analysis works. Embracing uncertainty. If this..then this... We're only adapting with the current market condition.

[goaldigger]

This could be the start of the reverse trend, and Bitcoin needs to sustain this momentum or else another false breakout. Let’s continue to monitor the price trend because we might see more green candles this Month as most of the indicators are showing a great uptrend. If there’s more good news to support this then we can easily reach that $30k mark again.

[Wiwo]

We are gradually climbing out of the resistant levels and since the last two months the price of Bitcoin has been forced to stay down throughout the period with a lot of attempts to break even in the downtrend manner,  but thank goodness Bitcoin was able to make another market mark since the beginning of this new month of October and this is something that we must commend the market for such a positive outlook for this month and if all things being equal,  Bitcoin may make a new market benchmark mark that may see us even moving above the most speculated price limit of 31k that many analysts are predicting for the month of October.

So let's keep our fingers crossed to see what becomes the outcome of the current market realities and how best we tend to handle all of that stuff as regards to bitcoin market and its speculations,  and how best we can fake position either it is it buying or selling position and we apply the DCA techniques.

[OgNasty]

I hope you are right. I was expecting to end the year closer to $40K so I would expect an upward move to happen soon. It seems like the price isn’t following the hype with the halving in the way, but it is still a little bit early. Once the talk around the halving gets louder I think we’ll see increased investment and a rising price.

[STT]

Longest term trend I have is a channel and we're near the top of that channel right now which means I think we'd have to break out and out perform prior BTC action for the last year or so to do immediately better in the price.   That is possible but Im also looking at negative markets and wondering for the motivation on BTC doing better then that negative backdrop.   I wouldnt guess on stellar performance just yet,  I think if we stay in this area thats our positive move because often we lose gains so I would like to just retain them.
  Draw a line in the sand at 27314 and if we keep above that level as our daily closing low, call it a positive market.  As for how well we do I dont know but I do think still quite a bit more neutral then people hope for.

[Fundamentals Of]

This is the daily time frame. Zooming out a little might suggest us a different possibility. I am not expecting a breach on $30,000 anytime soon, not even within the month. But I hope I'll be surprised. The month opened with a bullish note. It was just the second day of Uptober when the price went beyond $28,000. There was a correction immediately after that. The rise wasn't sustained. I was expecting that. Hours ago there was another attempt to be back at $28,000. It wasn't successful. I'm expecting the price to just dance around this level.

[Husires]

Reaching the $30,000 level is very important before the end of the year. All Moving Averages give a strong buy signal, which means that we will test 31,400 again, but given the state of the economy, the momentum occurring, and the lack of new variables, there is nothing that leads me to believe that there is something different now from what happened in 13 /July, where the price approached 31,500 before returning again to decline.
We are moving away from repeatedly touching the bottom, but it is not a bullish signal yet.

[Sebas.tian]

I think, $31,000 is possible for investors to see because the market is still displaying green candle to keep investors hope alive by continue holding their Bitcoins for that particular price of their choice to come to pass when the price hit higher. Based on what am observing from the chat, show that bearish season is about to disappear from the market for bullish season to roll in for those that invested in a low price to begin to get ready to supply when the price increase higher again. Since we have experienced $30,000 in this year 2023, I believe something good will definitely happen before the end of December that will make investors to accept that next year will be a massive bullish for both long term investors and short term investors.

[LogitechMouse]

Price movement history.

From 2019-2022, the price of Bitcoin during the month of October always goes up month to date, so there's a high chance that it will happen again this month. In the last 13 years, 9 times Bitcoin has gone up during the month of October. Bitcoin must surpass the $30,000 price resistance, so that we might see something different towards to it. I mean Bitcoin has been moving sideways for quite some time already. Many are just waiting for some catalysts that might've push the price either up or down. Well, we're only a few months away from the Bitcoin halving to happen (estimated to happen in April next year).

The bad thing though is that, in the last 2 years, the price of Bitcoin during the month of November, and December is down. I will not be surprised if it will happen again this year, but nevertheless, I expect a bullish movement towards the price of Bitcoin at least this month.

[adaseb]

Those aren’t fib levels, the main fib levels are 0.382,0.50,0.618,0.768 etc. I have never seen anyone use these fib levels.

Also fib doesn’t work well for crypto I find. It might work long term such as daily or weekly but on a lower time frame than that it doesn’t work. It works best for stocks usually on the higher time frames.

[Silberman]

This is the daily time frame. Zooming out a little might suggest us a different possibility. I am not expecting a breach on $30,000 anytime soon, not even within the month. But I hope I'll be surprised. The month opened with a bullish note. It was just the second day of Uptober when the price went beyond $28,000. There was a correction immediately after that. The rise wasn't sustained. I was expecting that. Hours ago there was another attempt to be back at $28,000. It wasn't successful. I'm expecting the price to just dance around this level.

There is a slight, almost imperceptible upward movement on the charts, but it is too weak to be called a trend or even a correction, the 30k resistance level has been a formidable opponent and most likely this is going to remain the case for a long time, and while this could be exasperating for traders, this is great news for long term holders as they can buy bitcoin for a relatively stable price on the upcoming months and prepare themselves for the upcoming halving.

[naira]

As the topic title says, here is a Daily Timeframe chart that shows how Bitcoin broke the resistance trendline and is now at a great 0.33 Fibonacci support level.
It will be going up for sure from here and the first target will be the 0.66 Fibonacci Level i.e. $29.4k and then $31k.

If I'm not mistaken among the crypto community, usually the month of October is often called Uptober, which is proven by the October cycle. Indeed, there were several Octobers that were in fact bearish. Regardless of the basis for this increase, I think the speculation out there is a reference to the tradition that investors in October always show aggressiveness in accumulating, whether in Bitcoin or altcoins. I hope that this trend really happens, provided that we also need to prepare ammunition to take advantage of every increase or decrease that occurs. Bitcoin adoption continues to skyrocket, indicating that Holdling preparations are increasingly promising.

[arwin100]

As the topic title says, here is a Daily Timeframe chart that shows how Bitcoin broke the resistance trendline and is now at a great 0.33 Fibonacci support level.
It will be going up for sure from here and the first target will be the 0.66 Fibonacci Level i.e. $29.4k and then $31k.

If I'm not mistaken among the crypto community, usually the month of October is often called Uptober, which is proven by the October cycle. Indeed, there were several Octobers that were in fact bearish. Regardless of the basis for this increase, I think the speculation out there is a reference to the tradition that investors in October always show aggressiveness in accumulating, whether in Bitcoin or altcoins. I hope that this trend really happens, provided that we also need to prepare ammunition to take advantage of every increase or decrease that occurs. Bitcoin adoption continues to skyrocket, indicating that Holdling preparations are increasingly promising.

There's a high possibilities that this uptober you called happen if there's big event awaited by many investors and since halving is coming for sure this is the event where people think about to accumulate. So maybe its slowly starting to happen that's the reason why we see some upper trend movements towards bitcoin. Although it price reverse a little bit but I'm confident that we can see more of it and maybe it can break to $30k on next month.

Month of November and December maybe an exciting month since this might be a deciding factor by majority to see if they can see some good price to set on next year since if good actions happen in this month maybe this is one of the reason why a bull run will be triggered to happen on first or second quarter next year.