Update on Bitcoin (Buy this fear) As i mention earlier! It is a dream that you would buy bitcoin around $7500 to $8500.

salahuddin2004 (48) in bitcoin • 7 years ago (edited)

Target 20 k before 30 March

We got entry at 10k , 5 days ago!

Ok some key levels in update for Bitcoin!

Bitcoin moving in sideways. Trying to clear area of $11800

Finding new support at $10800

I sure we will never see area of $7500 to 8500 for King Bitcoin! (@salahuddin2004)

Bitcoin preparing for take off!

Small Hurdles at $11800, $12800 respectively.

Clearing that areas next eye will be on 14k.

Here is Short update on BITCOIN!

btc 3.png

My Prediction for Bitcoin! Target 20 k before 30 March

https://steemit.com/bitcoin/@salahuddin2004/update-1-for-bitcoin-prediction-14-target-20-k

btc 2.png

bitcoin btc cryptocurrency blockchain cryptocurriencies

7 years ago by salahuddin2004 (48)

$2.08

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photogeek (54) · 7 years ago

Do you look at fundamental part?
There is way too much uncertainty concerning bitcoin and other cryptos as well.

Big governments trying to bring in heavy regulations
China and India (2.5 Trillion population) Announcing the "ban"
High transaction fees for Bitcoin (People are switching to altcoins)
Too much buyers at 18K, still above their Stop Loss point

It would be more realistic, if we say that whales force it down and buy at deep. Say @8500 or @7500. This is the area where majority SL's could be triggered and Bears activate their TP.

What you are saying is way too much optimistic and looks like you are cheering for your own investment (as you said you entered long @10K) rather than putting up well analyzed forecast.

As for technical side:

MACD is at -850 on daily chart. The signal is showing neither direction, could head down or up, 50/50.
RSI is in the middle. Not close to oversold region.
MA getting lower
Momentum indicator is positive though (Need to mention)
Moneyflow Index still heavily overbought (Which means that intrinsic price of BTC is lower actually)
Bollinger Bands are showing the price has more room to fall as well as room to rise. 50/50 here as well

We can go on and on. I don't see any strong reason to be more inclined to bulls or vise versa.

I'll wait and see how it goes. Too much risk now.

$6.05

5 votes

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bayuya (63) · 7 years ago

And Boom! We are under 10K again.
This is why, and I totally agree with you @photogeek, that Fundamental part is vital and even more important for Cryptos since it is still in the early stage and not only people but governments and corporations are still learning and planning before the real actions will take place.
We have more to expect. This is the Inception.

$1.10

3 votes

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bo3ia (28) · 7 years ago

Well said! Don't let your emotions do the trading.

$0.00

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ryan313 (57) · 7 years ago

Great thanks for imput!

$0.37

1 vote

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salahuddin2004 (48) · 7 years ago

Sir @ryan313 thank you so much! I really appreciated that you like my work!

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humblestudent (39) · 7 years ago

I like your analyses and always upvote them. I hope you are right about this one - most of the analysts on steemit are pretty bearish about the next bitcoin move targeting 8K or even lower. There was even one analysis claiming we might have started wave 2 on a major cycle EW meaning bitcoin will correct heavily in this scenario ( target of about $200). No matter if you are right or wrong, I appreciate your efforts, Salahuddin2004! Keep posting, please!

$0.03

1 vote

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salahuddin2004 (48) · 7 years ago

Dear @humblestudent I never forget you! I know.You are my man!

$0.00

1 vote

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mahovac93 (21) · 7 years ago

How much more will it go down?Can we see bitcoin again at 10k?

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mrprofessor (68) · 7 years ago

I'm really thinking about buying, turning my computer off, blocking all traking web sites and just forget about it for some time. Here's my sentiment now.

$0.00

2 votes

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salahuddin2004 (48) · 7 years ago (edited)

Sir @mrprofessor don’t think too much.Get In be relax!

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1 vote

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reazuliqbal (67) · 7 years ago

I hope your prediction become reality.

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1 vote

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salahuddin2004 (48) · 7 years ago

Yes sir @reazuliqbal

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thegoldenyogi (41) · 7 years ago

I certainly see this as a viable potential. Although it would be great if it could dip further for a better discount, I won't hold my breath. Thank you for your continuing effort to educate in the crypto sphere.