[ Bitcoin Price ] Bitcoin making lower highs, where are the Bulls?
Yesterday we bounced off $11126 on Bitstamp and now we are higher at $11766, but we need to break $13004 to make higher high. After breaking that we need to break $14319 to see the Bulls back in control.
Seven days ago, we run up to $14319 and then went all the way down to $9372. We had a bounce and run up back to $13004, but we are still below that.
Every week we see a nice bounce as the bulls jump in, but then we lose momentum to the Bears just to lose that gain again. How long will this continue or are we getting ready for a big bull run?
Here is the Technical Analysis from The Chart Guys with much more detail:
Haejin Lee’s still sees a triangle forming and a breakout is needed to get out of this triangle. Haejin hopes that we will go lower first before the breakout. The bigger the correction the better the next bull run will be.
I like to watch Haejin because it gives us a longer view of the Bitcoin price than The Chart Guys who are daytraders.
Here is the technical analysis from Haejin Lee:
Please comment below with your thoughts on Bitcoin price?
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I think: 15k$ soon...
I think you are right @leivisveliz, but only after this dip.
I'm happy, that we don't generate new highs after the recent correction.
The market needs to wash out some nervous participants before we see sustainable gains again.
Imho it would be healthy if we stay in the 10.000 - 13.000 range for January.
Sunny regards from Germany
Sebastian | @naanoo.com
I would love for btc to hang out around here and firm a solid base. Eth has done a lot better and based out around 1050-1070. Daily chart is still positive. I think this year will do really well for ethereum. X10 is definitely possible. For btc to do x10, it would be 100k.
My long-term take on 2018:
https://steemit.com/bitcoin/@naanoo/bitcoin-at-100-000-at-the-end-of-2018-btc-long-term-trend
I think 100K is possible if the hype continues. But like You I am even more optimistic for Eth.
On the other hand - Bitcoin has do achieve nothing to justify its capitalization as a store value. It needs a certain Cap to function as safe-haven currency for struggling economies.
I like your post on the case for 100k bitcoin by year end @naanoo
Yes, that would be nice @naano. Let all the bears wash out at 10k.
BTC has failed to break the $13000 resistance line and its becoming a frustration, hoping it rises above the $14000 level , the weekend saw a positive run before it cooled off
Yes it is frustration to me too @joendegz. This is a proper bitcoin correction.
This is quite an interesting read, the content is good. Thanks.
Thank you for your comment @izge
Predictions about Bitcoin are:
1.It will rise to US$: 1million !
2.It will diwn to US$: 1000 !
Your vote for which?
I vote for US$: 1million @shoukath :)
At the moment, he is struggling to break the resistance.
Yes, I can see it closing on 10k now @abelg
It's hard to say the future price of BTC but for the long term, I believe Bitcoin is a safe bet in terms of a way to store value. I believe in 2018, there will bea 'pruning' of altcoins and the 'survival of the fittest' rather than 2017 which saw a lot of random outcoins come into exisitence. I believe Bitcoin, through whatever market corrections are to come, will hold its value and will not just go down to zero.
Hi @chunger, if bitcoin fails all will fail. Bitcoin is the rock.
thanks for sharing your thought with us.
I just starting with Bitcoin, hope it will go well
In the short run there will be uncertainty, but bitcoin will rise long term @kulate.
This is quite an interesting read, the content is good. Thanks.
the decline will continue for a certain period of time
but this fall will surely be a rise.
i think bitcoin is looking for support point
and when you reach it the ascension will be very fast.
Only time will tell, but I also thing the lower we go the higher we will rise @fedex154