Bitcoin is heading to $98k

[KingsDen]

Hey, I just dropped the chart so that technical people will be happy seeing the chart. I have nothing to say about the chat because I'm not an expert of charts. But I am sure that I recognise this pattern of bitcoin movement. From $77k to $81k and moving as fast, as if we are in the bull run. If my memory didn't fail me, this type of movement already happened and I recognise it.

After this movement which looks like consolidation, bitcoin is moving to $98k and will not waist much time there until $100k.
You can disprove this with your chart and data. I have no much knowledge about chart but I can recognise pattern from experience, is that also a skill?

Any chart reader, is my claim supported by the chart?

[adultcrypto]

Any chart reader, is my claim supported by the chart?

This was a post that suggested the same figure of $98k by year and, you can see that here : https://bitcointalk.org/index.php?topic=5593278.0.

His method of analysis is a lot different from yours but seem convinced that bitcoin will ve headed to that figure by end of the year. I don't know if bitcoin will hit that figure by year end but I can only confirm that the bull run is not over, which means we will still see more upward moves inline with the momentum of the market, this means that buying now is like getting in at very good prices.

[sergiorus]

Any chart reader, is my claim supported by the chart?

I don't know, it's just a chart, like, there's no technical analysis figures or elements on it, no indicators etc.

I have some of my TA which indicates that we entered the upside phase and possibly a prolonged one but I can't tell a single price target for the EOY. Definitely higher than now but impossible to predict because a move towards can be very violent (when it comes).

[EL MOHA]

After this movement which looks like consolidation, bitcoin is moving to $98k and will not waist much time there until $100k.

I think simply using the Fibonacci extension shows that the next targeted upside is the $98k but this comes with a base bottom at $76k and if the market can obviously hold this up for Atleast a few weeks then we might say this target price is imminent. Even the recent reversal after an impressive two weeks bullish sentiment which took it to  $82k only reversed back to the $76k level and that’s currently healthy,

But does this totally mean the sellers are out overpowered? I will answer No. my reason is that the weekly candle or chart needs to close above this $82k for a clear upside movement.

You can disprove this with your chart and data. I have no much knowledge about chart but I can recognise pattern from experience, is that also a skill?

This is exactly how technical analysis works, understanding patterns is the what it’s is for, although highly technical or skilled analyst can add some indicators like EMA, MACD and RSI to it, to make it more predictable

[KingsDen]

Any chart reader, is my claim supported by the chart?

This was a post that suggested the same figure of $98k by year and, you can see that here : https://bitcointalk.org/index.php?topic=5593278.0.

He method of analysis is a lot different from yours but seem convinced that bitcoin will ve headed to that figure by end of the year. I don't know if bitcoin will hit that figure by year end but I can only confirm that the bull run is not over, which means we will still see more upward moves inline with the momentum of the market, this means that buying now is like getting in at very good prices.

I am glad to see a projection as similar as mine. For the analysis aspect, I actually have no technical analysis to back this up just that I have this gut feeling that it will happen. The feeling came as a result of past experience. I have witnessed this type of movement before and what it resulted to.

After this movement which looks like consolidation, bitcoin is moving to $98k and will not waist much time there until $100k.

I think simply using the Fibonacci extension shows that the next targeted upside is the $98k but this comes with a base bottom at $76k and if the market can obviously hold this up for Atleast a few weeks then we might say this target price is imminent.

I am glad to know that there's a Fibonacci extension that actually shows that. I just made the prediction and curious if there's anything somewhere that supports it

[AprilioMP]

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Any chart reader, is my claim supported by the chart?

$98,000 could be reached before $100,000, but even experts in reading charts cannot pinpoint exactly when that will happen. The only unanswered question is a matter of time, because they believe the real obstacle is the notion that it’s impossible.
I don’t want to say whether these claims are right or wrong, nor do I want to dwell on where the chart is headed, but I do want to point out that Bitcoin’s price has consistently trended upward since the year shown on this chart.

[danherbias07]

I guess this chart is one of the records in October?

Well, out of all the Octobers, there are only a few where Bitcoin was pumped. Still, I would not rely on this. September is really a bad month for Bitcoin, and it's not over for a few more weeks. I guess I will just start speculating about a new pump if the Bitcoin market ends this month with an explosive, stagnant movement. It means it will stay in the range of $75k to $80k. Even if it ends this month at $70k is a strong take.

I may agree that it could happen if it does not reach the all-time low for the past two months.

[asriloni]

After this movement which looks like consolidation, bitcoin is moving to $98k and will not waist much time there until $100k.
You can disprove this with your chart and data. I have no much knowledge about chart but I can recognise pattern from experience, is that also a skill?

You have some knowledges about how to read the chart and it's still considered as a skill. Not many people knows what pattern, consolidation and etc.

Any chart reader, is my claim supported by the chart?

Your claim is right only if bitcoin is able to break 82k resistance. So a retracement is potentially to happen if bitcoin fail to break it, but there is a possibility for bitcoin  re-test the same resistance in the coming days or weeks.

Nevertheless, try to take a look at resistance use the various time frame. However, Never forget any news from USA is also significantly impacting the price of bitcoin. TA alone is not really useful without aware about what kind of news to come.

The example is that usually the news related to the US NFP often pushes hedging asset to go higher.

[Dr.Bitcoin_Strange]

If you don't use indicators to do your analysis but only candle sticks movement, then you will need to look at different time frames of the BatC chart to be able to get a detailed idea of what price might likely do next. I already said it before in one of my previous comments that price is going to reach $85k, then to $100k before it might dip again but someone said it's too early to see price going to $100k and I am beginning to think it's true because price is not showing the bullish moment that we saw last month, if the weekly candle closes bearish, engulfing the previous week green candle, then it's likely to go down to $70k. So, $90k+ is not yet confirmed until we see a weekly candle close above $83k.

[KingsDen]

$98,000 could be reached before $100,000, but even experts in reading charts cannot pinpoint exactly when that will happen.

It's so difficult to say exactly when, but for the sake of my projection... I am saying that BTC will hit $98k before it falls below $70k. Now this is a clearer prediction.

After this movement which looks like consolidation, bitcoin is moving to $98k and will not waist much time there until $100k.
You can disprove this with your chart and data. I have no much knowledge about chart but I can recognise pattern from experience, is that also a skill?

You have some knowledges about how to read the chart and it's still considered as a skill. Not many people knows what pattern, consolidation and etc.

Lol, thanks for that brief compliment... I have no skill about reading charts, what I did was from experience. Someone who has been around here for atleast half a decade should have a basic knowledge of anything bitcoin and crypto.

However, Never forget any news from USA is also significantly impacting the price of bitcoin. TA alone is not really useful without aware about what kind of news to come.

The example is that usually the news related to the US NFP often pushes hedging asset to go higher.

Thanks for reminding me... I forgot to mention that chart readers and technical analysts are facing the worse time of their career. They'll spend hours reading charts just for Trump to spoil every strategy with political and gamy speeches.

Maybe it's more beneficial these days to sort for news than to read the charts.

[Oshosondy]

Any chart reader, is my claim supported by the chart?

If I remember very well, when bitcoin was increasing few years ago when it first got to $80000, it was not long when it got to $90000 and then it increased above $100000 later when it first got to almost $100000. This would be what you remembered, bit that does not mean it will be like that this time or that it will happen as soon as possible. The technical analysis is suggesting bull market but long term prediction which is not really long sometimes can be hard to predict.

[Asiska02]

This is a yearly timeframe which does not give room for short term predictions of the market. Like knowing how soon the market will reach a certain price but there is one thing very clear from the chart you posted. Bitcoin already sold from its highest ATH value down to the next zone where rejection is highly possible. From the chart, the price already hit that spot and has printed a candle for a change in trend.

This is a yearly timeframe as I said earlier and a lot of data’s needs to be observed in the lower timeframe also to know how soon the market heads to $98K to $100K. The overall trend of Bitcoin is bullish which shows the direction of the market from inception and what to expect of the currency even in years to come from now.

[bangjoe]

I think it is very difficult, moreover this resistance at $83 is quite strong, a lot of short positions there, this must be completed first, if the selling people have finished then the buyers will fill the market and can break through the resistance and chase the next price to get into $90k.
Actually why I find it difficult because it is in the bearish zone, many unexpected things always happen and destroy expectations, just relax there is no need to expect more about this fast movement.

Should it be able to sustain itself at $74k and above, that's more than enough to open up those opportunities. IMO

[Popkon6]

The chart certainly indicates that Bitcoin will rise, but I say that Bitcoin is most likely to correct. Because there is no sign of a permanent increase in the Bitcoin market right now, yet the Bitcoin price is moving higher. That is why I must ask myself, according to the cycle, Bitcoin price is now suitable for a sufficient correction. But due to the high buying pressure in the market, Bitcoin price has started to rise constantly.
In such a situation, we can certainly ask ourselves more, has Bitcoin price increased more in the past at this time?
Where we are now seeing Bitcoin price rising, the chart is getting stronger and the green candle is getting bigger, is this a sign of a permanent increase in Bitcoin price?

[Pandorak]

It seems i’ve said this many times before, we’ll never see Bitcoin reach $90k, let alone $100k. From a technical perspective, for the price to rise higher, a breakout of structure (BOS) must occur and as of now, Bitcoin hasn’t been able to break out above the key level at $83k which is a weekly supply zone/strong resistance level.

Looking at the daily time frame, after touching that price level, Bitcoin immediately fell back down, proving that selling pressure remains very strong there. Yes, Bitcoin will likely trade sideways for a while until it finds the right momentum and hopefully that will happen soon.

[tabas]

It seems i’ve said this many times before, we’ll never see Bitcoin reach $90k, let alone $100k.

Never is an overstatement. It will stay on these levels for this moment but it will definitely get out of that zone as per cycle changes. But that is also a good analysis that you have there. I believe that Bitcoin is unpredictable and the time will definitely come for it that we'd see it again. As it is a cyclic market and we're looking at OPs analysis with that pattern the same on almost every year that it has shown. So if you are saying that we'll never see $90k and $100k+ I think is a bit exaggerated as we know that Bitcoin always shows its dominance and with your analysis, it's normal because we're in a bear market.

[Y3shot]

Any chart reader, is my claim supported by the chart?

If I remember very well, when bitcoin was increasing few years ago when it first got to $80000, it was not long when it got to $90000 and then it increased above $100000 later when it first got to almost $100000. This would be what you remembered, bit that does not mean it will be like that this time or that it will happen as soon as possible. The technical analysis is suggesting bull market but long term prediction which is not really long sometimes can be hard to predict.

Looking at the price of Bitcoin, it doesn't look like it is going to drop to the price from which Bitcoin is coming, I mean around $50-60k because Bitcoin was in this range for a long time.

The price of Bitcoin is about to pump, moving to $90k, but it is possible that before this happens, the price of Bitcoin might dip a little but may not stay there for a long time. Bitcoin has entered the bull season, and it is possible that the movement of the price can be kind of slow.

[Donneski]

It seems i’ve said this many times before, we’ll never see Bitcoin reach $90k, let alone $100k.

Well, you never can not be too certain with this assertion because at the moment, there's been some developments that suggests that Bitcoin can move upwards beyond what the results of your analysis. I'm not tryna totally write off your submission, but when you consider the recent widespread institutional adoption, you'll agree with me that there's every possibility that unplanned events can happen and force a strong bullish trend that'll see Bitcoin reach 100k before Christmas.

[danadc]

According to the chart, it looks very optimistic. That last candle gives a lot of hope that it could gradually rise, but we shouldn't rule out the bears, who occasionally make sharp moves that could halt any bearish trend.

I don't know much about technical analysis, but at $80k there's a strong ceiling that could cause a pullback. It's a strong support line, and if there's enough strength to break through it, it could easily reach $98k, but there needs to be a very large buying surge.

[Slow death]

I could be mistaken, but ever since the conflict involving the US, Israel, and Iran began, the price of Bitcoin and other assets has been highly unpredictable. When tensions between these three nations ease, the price rises steadily, but when tensions flare up again, the price drops—I don't know if I'm the only one noticing this. Currently, I view the $75,000 level as a crucial support for Bitcoin; over the last two days, the price has managed to hold around $78,000. In the event of a sharp drop, it might dip to $76,000 before quickly recovering to $78,000.

However, if the price falls below $75,000, we could see it drop to $69,000 or lower. Given the tensions between the three countries I mentioned, I wouldn't rule out the possibility of the price dropping below $69,000. On the other hand, if the price manages to break past $83,000, I believe it will reach $94,000. While hitting $98,000 is possible, I prefer to be more conservative and view $94,000 as the target level if the $83,000 mark is broken.