[ Bitcoin Price ] The Bears are still out, but for how long?
The bears are out and yesterday they went down all the way to $10092 on Bitstamp. The bears could not break 10k, YES!, but looks like they are trying again as I am writing. We are currently at $10220 after a run up to $10963.
The daytraders are having great fun with the bitcoin price. That is 9% up from the lows, it you can get your timing right.
So will $10k hold? This is the psychological support and $9372 the technical support. Yesterday we saw Haejin Lee and Tone Vays with bearish views on the Bitcoin price. Tone made a new update and I will include it below.
Here is the Technical Analysis from The Chart Guys with the details for the short-term Bitcoin price:
Here is the technical analysis from Tone Vays. After 10000 he sees no support until 7500! Ono!
Good news is that the Mempool is coming down as transactions are getting done faster and hopefully cheaper soon. Lightning Network is kicking in too!
See here: https://tradeblock.com/bitcoin
Please comment below with your thoughts on Bitcoin price?
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BTC is still trying to break above the critical support level shown in red at $10600, if it succeeds in doing so next upward target will be [email protected]% retrace, and after that the heavy resistance @12800, i will watch closely till then before calling bulls.
if it fails it may find support next at the previous low ($9,005), denoted by the blue dotted trendline on the chart. Just below that, we have the [email protected]% retrace, which could also be supportive. A break below the 78.6% retrace, will put the bear flag target @$7600 in BTC's sights.
Wow @ajai, that is great technical analysis. Thank you
Some days back so many currencies fell drastically , like STEEM , SBD, STELLAR, RIPPLES too. They've been fluctuating ever since. But bitcoin has been dropping of recent. We still hope for a rise
Yes we do @rowland. Bitcoin will rise again. It must otherwise all of crypto world is doomed.
Very true man
I'm just seeing this now.
Checked your blog, loved it. Particularly the ones on cryptocurrency and motivation.
Please kindly check mine, a follow back will be high appreciated.
Thanks for the info ,This next few days will tell the story short term I think , I am hoping it holds ,
I agree, all the action will be in the next 2 weeks @jkenny
Thanks for sharing your valuable opinion. Well said.
I think now time to hold some BTC. I guess it will boom in this year. I heard someone said that btc will go in 2k18 much higher and it will go $25k. So if your mind is ready to hold then take it action. Nowadays it fluctuate more and going down that's why some guys are deppressed and they are selling.
Keep posting here. I am not a succeessful just am beginner. So if i mistake then plz pardon me. Happy Steemians man. @colinbrazendale
Great comment @mindfreezer. Lot of new bitcoiners joined in Nov and Dec at all time highs, now they are feeling the pain unfortunately. I say average down and buy more. It will recover again.
My initial thoughts when I started following market was that it requires me to study tables, charts to some curves but what I realize off late is that's it's the study of human behavior.
Charts do help but the market is majorly dominated by psychological barriers.
Short term (months) prices Yes I agree, long term fundamentals (5yr plus) @thenomadictales
I am reading so many different opinions about what is going on and what to do with bitcoins. I think, i will hold all my bitcoins , will not panic and not sell. In any way i think bitcoins will become more stable after all mining will stops so long investments now is not so bad idea.
I think that is a great strategy @fortunee
Good information,nice posting.
Thank you for your comment @rasyidin
Your post is very interesting. I would like to ask how your prediction about bitcoin 2018 is whether it will go up or it will decrease
I think first little bit down then up a lot @uciha
Bitcoin's price is holding its ground so far today.
As of writing, the world's largest cryptocurrency by market capitalization is changing hands for $6,495, as per the CoinDesk Bitcoin Price Index. According to CoinMarketCap, the bitcoin-U.S. dollar (BTC/USD) exchange rate has dropped by 1.74 percent in the last 24 hours.
Still, the small decrease hides the fact that BTC retraced more than 50 percent of its recent sell-off yesterday. In the time since, the downside has been capped around $6,400, while a ceiling has formed around $6,800.
So is the short-term bottom in place?
Monday's sharp recovery and the overnight resilience suggests that the rumored rotation of money out of bitcoin and into bitcoin cash and other alternative currencies may have largely come to a halt. However, it seems the market is still pricing in the recent suspension of the Segwit2x hard fork and and redetermining the value of competing protocols.
Further, the price action analysis indicates the bears need to push bitcoin below the 5-day moving average by today's close to avoid losing control.
Where do you get your prices from @farah-kamran?
my searches dear
I also don't trade bitcoin. Just hodl for long term.. hopefully the price will go up soon. I wonder what the price will look like after the lunar new year.
I have no idea, but still hope it will be up @atikahnoh