The Next BTC Targets
Well, if you had traded the last measured move, you'd be looking at $8,997 as your first target, $9,748 as your second target, and $10,910 as your third. I didn't call it, but, like I said, if you had made the trade at $5,500, those are your targets.
Bitcoin is also within a smaller extension long leading up to the 1st target. After that things get riskier and riskier. No doubt about it, this is seller's territory, not buyer's. Remember, the next 24 hour period marks the apex of the rising wedge that seems to have been negated, as seen, in the second chart below, sharing its upper boundary with the second ascending channel (and with an additional third rising channel now drawn in red).
As I said before in the recent past, just before the major sell-off to $5,500, it's straight up or not at all, once again.
Extreme caution is advised.
It seems that your prediction is coming true.
to be honest i didnt believed that bitcoin will get to 8k so fast..all these forks rumors should have stop the bull maret --but it seems nothing can stop the hype train now
Things usually stop just when it looks like it will never stop. 😖
@cryptographic do you use to trade some of your BTC when it goes down like in this situation $5,500? Thanks for sharing. @gold84
Nothing traded or recommended on this last move from $5,500. This post is a "if you had traded it, here's your targets" post.
@cryptographic I meant a general question for you. I understood what you meant with the post. By the way, a great analysis on Bitcoin. @gold84
$10,000 is on cards now :D
That's what everyone seems to have agreed on. 😉
Good advise, despite I have my doubts about the deep correction you are alerting about...
I'm also planning a correction but reaching around 6700 USD or so.
Cheers
Oh, I'm not sure about forecasting anything right now. It's a coin toss in my opinion. It could just as easily run immediately to 10k as it could crash to 4k. It's a very emotional market with lots of new players who've bought at very high levels and just as many long term holders looking to raise cash. Straight up or not at all is the most I will venture at the moment.
I'm also not involved in BTC at all. In fact, the only time I've owned Bitcoin this entire year is when I've sold an Alt and waited a bit to buy another Alt - my total cummulative time holding BTC probably doesn't even total 1 day. And my portfolio is 100 times what it was on Jan. 1, while BTC has only increased in value about 8 times, and that was done, again, as I said, staying completely away from a much riskier BTC.
Hey it's very great news and it seems like that you gave us a way to see the movement of Bitcoin and really It helped many people to understand the movement of the market
I'm really glad to know it's a help. Thanks.
wow excellent technical analysis, you tell very nice resistant levels and these are also good spots of taking profit, well in my opinion the way bitcoins active users are growing, i personally see 10k bitcoin in a very future.
thanks for sharing those charts and analysis with us, it's extremly helpful.
@cryptographic,
Fried you are correct, I think this time it will reach 11,000 USD! Look it's rising and rising. You made a nice analysis of it! I hope all Steemians will follow your graph analysis! Coz this is amazing! Your predictions are very effective! Thanks for sharing such useful article with us!
Cheers~
It's the first time I'm reading one analysis of yours, and it's greatly appreciated. Thanks for the advice!
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STOPIn spite of more and more detractors, Bitcoin continues its frantic race to new heights. After a week rich in emotions, a new $ 8,100 ATH was reached this Sunday.
The little beast that goes up ...
Between Wednesday and Sunday last week, the price of bitcoin fell sharply from $ 7,700 to under $ 6,000. Since then, we have witnessed a rise that becomes usual. We had been waiting for a while to see the price exceed $ 8,000, and the week proved us right.
So this Sunday, Bitcoin reached a new ATH placed at $ 8,100. This is a gain of more than 30% in 7 days, a common lot for Bitcoin. Its capitalization now exceeds $ 134 billion (for the prospect, it is double the total capitalization of Airbus)