Is Bitcoin on the Verge of a Big Move? Your thoughts?

[Cech1337]

I recently came across an interesting article discussing Bitcoin's current price movements and potential future scenarios.
It highlighted a possible drop and mentioned various technical indicators on both the 4-hour and 1-day charts. The piece also presented two possible scenarios:

• further decline
• potential recovery

I’d love to hear your thoughts on how the technical indicators might influence Bitcoin’s next move.

[bitmover]

I recently came across an interesting article discussing Bitcoin's current price movements and potential future scenarios.
It highlighted a possible drop and mentioned various technical indicators on both the 4-hour and 1-day charts. The piece also presented two possible scenarios:

• further decline
• potential recovery

I’d love to hear your thoughts on how the technical indicators might influence Bitcoin’s next move.

I don't think technical analysis should take a significant part of your decision to buy/sell.

Next moves can't really be predicted imo, but future can't. War, viruses, elections, fed, etc all can make unpredictable moves and break any technical indicators.

[akeemqaz]

I don't know much about Bitcoin's movement, but I want to buy more. If it goes down, that will be a good time for me to get more. After the last big increase, I think there might be a small drop before it goes up again.

[bee]

I’d love to hear your thoughts on how the technical indicators might influence Bitcoin’s next move.

It doesn't affect the price, it just affects your decision to find the ideal time to enter. If you spend some more time searching for "bitcoin price prediction" on google, you will get several similar articles with different predictions. The bottom line from all of these predictions, just buy as soon as you want, then hold.
Some similar articles I found in a minute:
https://coinpedia.org/price-prediction/bitcoin-price-prediction
https://www.bittime.com/en/blog/prediksi-harga-bitcoin-dan-ethereum-agustus
https://ambcrypto.com/predictions/bitcoin-price-prediction

[yhiaali3]

We see from the chart that Bitcoin price dropped from 70K$ to 66K$ in two days, and most likely there will be more decline due to negative news.

For example, the US government transferred 29,800 Bitcoin to a new wallet, the transfer at this time may be due to Trump's statement and his promise to hold on to the quantities (if elected), it may be with the intention of selling before Trump takes office if he wins.

In addition, Mtgox moved 47,000 Bitcoin, which caused fear in the market and a drop in the price.

[LogitechMouse]

~
The piece also presented two possible scenarios:

• further decline
• potential recovery

I’d love to hear your thoughts on how the technical indicators might influence Bitcoin’s next move.

Is there a third scenario that can happen? I mean there are only 2 movements with regards to the price of Bitcoin. It's it goes up (potential recovery) or it goes down (further decline) so what's the point in highlighting those 2 scenarios.

Anyway, relying on technical indicators or technical analysis with when you're buying might work in the short term, but it will not in the long term. This is only based on my experience since I followed some YouTuber influencers that's expert in TA. I tried to follow what they're saying based on their analysis, and I ended up getting profit though, but it isn't as many as it is when I just focused on what my strategy is which is to do Dollar-Cost Average.

~
In addition, Mtgox moved 47,000 Bitcoin, which caused fear in the market and a drop in the price.

TBH, investors shouldn't be afraid because of this one because they can't sell it as soon as they received it, and if it happens that they will sell it, the price will go down gradually hence, another opportunity for us to buy even more Bitcoin.

[bitterguy28]

~
The piece also presented two possible scenarios:

• further decline
• potential recovery

I’d love to hear your thoughts on how the technical indicators might influence Bitcoin’s next move.

Is there a third scenario that can happen? I mean there are only 2 movements with regards to the price of Bitcoin.

it could go sideways where it does not significantly drop nor rise

to be honest, technical indicators are usually only used by traders and not much used by long term holders in the article it looked at the 4H market which something that someone who holds for a long time will really not care about even if it is bearish

their goal is to hold for as long as possible without being interfered by fud and other factors

However, if Bitcoin fails to decline further as predicted and turns to move upward, it will begin to move toward the $71,909 resistance level. It could move even higher to challenge the $73,811 resistance point if it breaks above $71,909 and possibly moves on to create a new all-time high.

 i think it’s important to be informed about the resistance levels and what it implies if it breaks it might be a good opportunity for investors to sell and take profit but if you plan in holding for long term then i don’t think it’s necessary for you to be looking at technical analysis especially one done in 1-day charts

[Manna]

If you want to know about the future of Bitcoin coin, then you must take a look at the graph four from the beginning of Bitcoin coin until today, because if you see the graph, you have hundreds of questions in your mind, all of them will be solved in a moment.  Bitcoin is a coin that no one can stop but I can say without a doubt that it will go higher one day or the other.

[pakhitheboss]

• further decline
• potential recovery

I’d love to hear your thoughts on how the technical indicators might influence Bitcoin’s next move.

I do not believe in technical indicators at all regarding Bitcoin. It is not easy nor it is possible to predict the price of Bitcoin through those indicators. One thing I am certain that last year September the price of Bitcoin was $29K and today it is at $66K. The price of Bitcoin has always gone up and has never gone down, there are some hiccups on its way and this is what we see when the price of Bitcoin drops. After being in this industry for 6 years now such hiccups no longer affect me or those like me.

[hugeblack]

Aren't these all the options for Bitcoin in a bull market where the price will either go up or down.
Long-term analysis for more than 6 months says that once the $71k top is broken, reaching $100k will be quick and there is a good chance of that happening before the end of the year.
Technical analysis can help you predict the price direction but it is part of the decision making mechanism.

[Kemarit]

Aren't these all the options for Bitcoin in a bull market where the price will either go up or down.
Long-term analysis for more than 6 months says that once the $71k top is broken, reaching $100k will be quick and there is a good chance of that happening before the end of the year.
Technical analysis can help you predict the price direction but it is part of the decision making mechanism.

That's why we should look at the bigger picture, next 6 months or even next year will be a viable option. So we should just continue accumulating at the current price and be a holder. Speculation is that a conservative $100,000 is on the horizon, and with that, there is no point of selling even if we reaches like $70,000-71,000 on the recent surge. It's good to learn technical analysis, but it's not the end of it. There is news going around that can affect the market that technical analysis might not see even if you do it to the Tee. And with the current price movement, I don't see any big move, so the best thing is to wait till the last quarter. Maybe but that time, the market has matured already and we might see a new President in the US that might be pro-crypto that could bring a large flow of money in the crypto market.

[TomPluz]

I am not so good yet on understanding technical indicators and they can really make my brain and eyes go dizzy - what an unlucky guy I am - but I can feel the market is really ready for some decline and yet we should not look at this as really negative because by then we can buy more BTC at a better price. Right now, many traders and investors are looking at taking some profits hence there can be more selling pressures in the days ahead...but this is nothing to worry as Bitcoin has a super-natural ability to get back and be alive again ready to make some surge...again. We just watch out for it and be ready for the action.