Bitcoin and the crypto world has gone a little quiet in recent weeks, but it appears that things are about to change.
That's a BTC daily chart (each bar is one day of price action), and it tells me that the price is about to change. It's just under 12k right now, and within the next couple days or so, it looks like there's going to be a burst of volume and a sudden change in price.
Which direction?
The chart hints to me that it's more likely to be an upward move than a downward one.
- The price has consolidated along an upward resistance level of 12,000 USD, while making higher lows. This tends to be a bullish indicator.
- The previous direction of the market is upward, and a resumption of that move is most likely.
Also, the price action in recent weeks feels a lot like 2017 to me. Price remains well above the 18-period-moving-average, and any corrections tend to be through time, rather than through price. Up, sideways, up, down a bit, up a lot, sideways, up, etc. Maaaybe we'll see a proper pullback (even down to 10k?), but I expect 2020 to continue to be very good for cryptos - and for gold and silver bullion.
Christmas is my next time target for Bitcoin - something significant will happen on the price chart around the end of this year. Perhaps that's when we'll break through the 20k all-time-high?
DRutter
Posted Using LeoFinance
Damn if BTC doesn't hit ATH by Sept 30 I lose 100 Hive bet :D
Posted Using LeoFinance
Oh, you lost.
And yet, you won!
Congrats on 20k. Well, 21k.
actually we modified the bet to ATH by end of year.
gave him 2:1 odds, 200:100 in his favor.
He sent me 400 Hive the other day... lol :D
Wahahahahaa, yessss!
I do not invest (or bet) but I am living vicariously through others :P
Hah! Interesting bet. If crypto does well enough, you win. If it doesn't do very well, you lose, and losing 100 HIVE wouldn't matter. You kind of hedged your bet :P
Hope bitcoin does rise some more.
Me too, and I think HIVE is looking great. The low 20s seems to have finally been the bottom, and day by day the price is gaining traction. As the crypto market moves up, finally, it looks like HIVE is set to join in.
But again.... I'll believe it when I see it!
I mean Hive and Steem just recently left the top 100. But perhaps we see a repeat of that crazy time when SBD was trading for 10$ each.
If BTC manages to sutain lvls above 12k i believe we fully entered the bull market.
But, due to covid19 I'm expecting to see one more lockedown which will be another stress test fot btc.
It will go either to 50k or all the way down to 7k.
At least i think so.
Yes, 50k BTC! Then Hive/Steem will be worth enough to make my total worth $100. Not bad for 3 or 4 years of daily commenting and curating! That's close to 47 cents an hour, not bad. I'm looking forward to that day :)
Well yes, it looks like many cryptos are consolidating and beginning to move upward. When BTC breaks above 12k there might be a lot of interest in the cryptocurrency space.
Well, volatility certainly has come into the BTC market since this call! Up to 12.5k and down to 11.5, what's next!?
i have this strong feeling that crypto might just be the best thing that happened in 2020. BTC is definitely crushing that all time high.
stock your bags but don't trust your coins where you don't own your keys. for me, it's will always be non-custodial exchanges like https://changenow.io
What do you need an exchange (bank) for?