Bitcoin (BTC) analysis thread

Madalyn

Junior member
47 6
My prediction for the next 1-2 months: Bitcoin price may cool down and slowly retrace near the area of $7,500-8,000. Then it could easily make another climb up over that $10,000+ mark.
Yes that sounds likely. Then we will just see if there will be another push up later on to further heights or not.
 

Bubba27

Active member
116 6
Yes that sounds likely. Then we will just see if there will be another push up later on to further heights or not.
I think that over the longterm Bitcoin price is trending upwards but it is not really on a wild ride. It is actually slowly rising and it is a stable, slow, methodical climb up in price. For now at least.

Bitcoin is not as volatile and emotional as we like to believe.
 

ChrisDouthit

Member
59 12
SO a good time to buy then?
In my opinion, the cryptocurrency space is on the beginning stages of a melt up. We will certainly see another huge spike like what happened in 2013 and in 2017. Those are four years apart and when I add 4 to 2017 I get 2021. Keep in mind, cycles usually go faster the next time around. The end of this year or sometime next year, if you want to get in I wouldn't try to time it I would just get in.
 

momo3HC

Active member
182 55
BTC 23022020.jpg
IMG_2544.JPG

Hi all. This week i`m switching to 1D chart cuz there are more interesting things on it but before that let`s check the last analysis main points.
  • Pivot point for this week was 10003.96. We will close this week almost 100% probably under it, which means the next one could be negative.
  • Parabolic SAR is not changed and it`s still bullish.
Now let`s move to the actual analysis with the first chart.

Two support levels:
  • $9500 - previous resistance and support level
  • $9100-9000 - previous resistance and support level and almost 61.8 fibo level
Resistance level: $10500 - previous resistance and 100% fibo level

There`s two very bullish indicators into this chart too:
  • Golden cross happened between 50 and 200 MA`s. Very bullish signal in long term.
  • Supper guppy indicator. Very good indicator which seems to be turned bullish almost a month ago but i`m checking it now. Check it in tradingview chart if you`re interested.
2nd chart:

Thank`s to Glassnode we can check Bitcoin`s Reverse Risk (BRR) chart combined with it`s price.

In short we can conclude that in every time when BRR bottomed out from the green zone we`re facing in front of the bull run start to the next ATH or at least local high (like the 14K top from the last summer).

That`s for now from me guys. Wishing you a wonderful and prosper week. And remember that all about BTC is a long term game and almost every single indicator now is pointing north, no matter of $500, $1000 or even more dips for a day or week.
 
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sebking1986

Active member
112 31
I think we could see a higher push this week with more cases of CV cropping up in Europe now. Seemed to push it higher before and I think combined with the clearly bullish technicals I wouldn't be surprised to see it holding above the $10500 by the end of the week.
 

momo3HC

Active member
182 55
BTC 20032020.jpg

Hi all. Let me present you my latest Bitcoin (BTC) analysis.

First of all let`s check what caused this huge dump.

The main reason must be the COVID19 world threat and yes if you think the same you`re definitely right. But… and this is quite big “BUT”, there`s also some other rumors at which I want to drew attention too.

The first one is Whales. Yes they`re greed. Yes they`re powerful. And yes, they have all the resources to manipulate the market for the simple target… to accumulate more coins at the lowest price possible. In evidence of this (or kind of evidence) I can point the number of BTC whales during this dump – more than 1940.

The second rumor which i`ve heard lately and it`s VERY interesting is that this dump was caused by the miners, big miners and they`ve used COVID19 as a look-alike trigger. In front of the halvening, big miners wanted to destruct small ones with sell off and that must be started from 15th of February. As you must know after the halving this May:

  • The production and the profitability of/from BTC will be cut in half.
  • The expenses to mine will stay the same or even bigger if there`s inflation.
  • The miners will be the same number as now.
And from 1,2 and 3 is popping a problem – competition.

How the big miners can destruct the competition of small ones and get them out of business before the halvening? Easy. With big sell offs, pushing the price down and down till the small ones become unprofitable and capitulate.

Like I said this is just a rumor but it`s very interesting one and may be the latest hashrate is kind of evidence for this theory (about 30% decrease from the latest ATH).

Now let`s get to the technicals.

  • Pivot point for this week is $5794.92 Weekly candle close above it – GOOD. Weekly candle close below it – bad.
  • 200 Weekly SMA – price is back above it – GOOD.
  • Resistances:
  • 1st $6400 (by previous PA)
  • 2nd $7300 (by 61.8 fibo level and previous PA)
  • 3rd $7800 (by previous PA)
  • 4th $8500 (by 50% fibo level and previous PA)
  • Supports:
  • 1st $5300 (by 78.6 fibo level and previous PA)
  • 2nd $4100 (by previous PA)
  • And last but not least check the purple marks. In short, every time when we see such high volume and such highs or lows in price, the trend reversed afterwards.
P.S. Last thing which i`ve checked is Crypto Fear & Greed Index. It shows extreme fear and I have a moto: “Buy the fear and sell the greed.”

That is my vision for the latest circumstances and the future possibilities about Bitcoin.
 

sebking1986

Active member
112 31
Defintely seems to be on an upward trend for now but once hte virus really grips the US I expect to see a massive dump again. Arguably worse than the recent dump
 

RachelFX

Member
95 24
Bearish outlook right now for me on BTC,

Daily shows a big retest in play with rejection at the horizontal and diagonal resistance!

BTC.png
 

MasterOfCoin

Experienced member
1,228 478
Corona panic effect nicely clearing out the networks of speculators.

Now all we need is a decent run on the banks to highlight the advantages of cryptocurrency over fake money.

Not there yet, but there's hope.

😷
 

AdamCantor

Active member
127 11
View attachment 276460
Hi all. Let me present you my latest Bitcoin (BTC) analysis.

First of all let`s check what caused this huge dump.

The main reason must be the COVID19 world threat and yes if you think the same you`re definitely right. But… and this is quite big “BUT”, there`s also some other rumors at which I want to drew attention too.

The first one is Whales. Yes they`re greed. Yes they`re powerful. And yes, they have all the resources to manipulate the market for the simple target… to accumulate more coins at the lowest price possible. In evidence of this (or kind of evidence) I can point the number of BTC whales during this dump – more than 1940.

The second rumor which i`ve heard lately and it`s VERY interesting is that this dump was caused by the miners, big miners and they`ve used COVID19 as a look-alike trigger. In front of the halvening, big miners wanted to destruct small ones with sell off and that must be started from 15th of February. As you must know after the halving this May:

  • The production and the profitability of/from BTC will be cut in half.
  • The expenses to mine will stay the same or even bigger if there`s inflation.
  • The miners will be the same number as now.
And from 1,2 and 3 is popping a problem – competition.

How the big miners can destruct the competition of small ones and get them out of business before the halvening? Easy. With big sell offs, pushing the price down and down till the small ones become unprofitable and capitulate.

Like I said this is just a rumor but it`s very interesting one and may be the latest hashrate is kind of evidence for this theory (about 30% decrease from the latest ATH).

Now let`s get to the technicals.

  • Pivot point for this week is $5794.92 Weekly candle close above it – GOOD. Weekly candle close below it – bad.
  • 200 Weekly SMA – price is back above it – GOOD.
  • Resistances:
  • 1st $6400 (by previous PA)
  • 2nd $7300 (by 61.8 fibo level and previous PA)
  • 3rd $7800 (by previous PA)
  • 4th $8500 (by 50% fibo level and previous PA)
  • Supports:
  • 1st $5300 (by 78.6 fibo level and previous PA)
  • 2nd $4100 (by previous PA)
  • And last but not least check the purple marks. In short, every time when we see such high volume and such highs or lows in price, the trend reversed afterwards.
P.S. Last thing which i`ve checked is Crypto Fear & Greed Index. It shows extreme fear and I have a moto: “Buy the fear and sell the greed.”

That is my vision for the latest circumstances and the future possibilities about Bitcoin.
anything for today? I am uncertain what direction btc is headed now. we see some slumps then a step back up and now what, it wont reach 7k... what are your thoughts here mate?
 
 
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