We just had a break out from $7420 to $7562. But yesterday this time we were standing at $7597. So we have mover sideways for the 24 hours and there is still no sell off to $6900. Are the bull making ready for a run up or are the bears making ready for a run down to $6900?
We are yet to for a higher low from the previous low of $6500. So far the lowest we have gone is $7298 on Bitstamp. Are we going to visit this low again or is this the new higher low? We first need to make a new higher high to see this happen.
Here is Dan from The Chart Guys with his view on the Bitcoin market:
Do you think $7298 was the new higher low? Are the bulls ready for the next bull run?
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Looks like we are forming a base for support. I wonder if we will go down to 6900 support. Maybe we are ready to test resistance at 8600?
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Coin Mastery still thinks we are going down to $6900 to $7100. That will be another big fall from the current $7550 level. More here:
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Still going down now at $7342
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Coin Mastery still thinks we are going down to $6900 to $7100. That will be another big fall from the current $7550 level. More here:
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Price is currently uncertain to which way it will move next. On the daily chart the previous 3 candles have been unable to present an indication for which way price will move in next. This can be very common when price reaches a major level, price often consolidates around that region for awhile and then shoot off in a certain directly after slowly building buying or selling pressure. I still believe we will see a move lower, potentially down to the $6,500 region before we see any sign of major support found in the market.
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Bitcoin is on weekend go slow
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So the charts are still pointing downwards?
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The charts are still very much indicating that this downwards movement isn't over just yet. Over the previous week price dropped below $7,870 which has proved to be a major support/resistance level. price was able to close well below this level suggesting the amount of momentum the market has towards the downside. I believe a push down towards the $6,000 region is still the most likely short term scenario.
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Tyler Jenks from Hyperwave on YT is now predicting $4900
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Scary stuff, wonder if I should sell everything and wait?
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This is a contributing factor to the price going lower, panic selling. Everyone is becoming uncertain about the market so they panic and sell everything, it might not seem like much but if 15-20% of everyone investing in crypto were to panic sell the decrease in volume and also the value of the coin decreases significantly. Crypto is a long term game, you have to remember this time last year everyone was saying that bitcoin is dead because it was trading at $2,000! These calls from all the big investors are only short term scenarios... bitcoin will reach all time highs by year end.
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i says "We just had a break out from $8420 to $8562" i think u should add -1000$
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Well spotted
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You are 100% correct. Thank you. Will fix that now.
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your post is so much helpful for all people.thanks for it.
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Hi, what is news?
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i am worried about my id because my id ranking is not level up.thanks for your support.i like your posts..so good luck give me some suggestion about steemit ranking pls.iam not getting upvotes in my own posts.😭
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I recommend buying upvotes from people with higher rank than 34. Your own rankings will shoot up
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Agree, use the Steem Dollars you have to buy upvotes. Try to time it when SBD goes up in price over the 7 days before payout and you will get out more than you paid for the upvote.
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thnx for all suggestion.
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Cool! :)
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