bitcoin Bitcoin sudden spike - reason?

[xBDT Script 4371]

It was under $8k even few hours ago but now it seems spiking very abnormal. I am not complaining but interested to know the reason. The one I figured is possibly some whales just came to buy a big bag of bitcoin and this is why we are seeing this.

Check the hourly chart in Binance. It's crazy gain!

Anyone have any idea?

 

[Bills 583]

2 hours ago, xBDT Script said:

It was under $8k even few hours ago but now it seems spiking very abnormal. I am not complaining but interested to know the reason. The one I figured is possibly some whales just came to buy a big bag of bitcoin and this is why we are seeing this.

Check the hourly chart in Binance. It's crazy gain!

Anyone have any idea?

 

I think that whales are beginning to test the highest price areas, to see how much offer can be found, I doubt it is a bullish trap, there have been many movements of great whales to the Exchanges, especially Binance, Bitfinex.

[knezulc 82]

2 hours ago, Jerywn said:

 I think The price range movement is a very strong bull signal seeing the number of bars that it has over taken on it way up in such a short move time frame....the price seem to have zoom pass previous support and resistance levels....this could be a sign for plenty bulls to jump into the market this will mean that the market will continue a bit higher with some momentum, or the price can level off as the bulls look to see if the market has really changed direction.....it seems Bitcoin found consalidation around $7000 and is now ready for price correction.... 

Also could mean that the buyers are now coming back to buy up thier Lost bitcoins as they begin to get good feedback from the Central banks who are signaling the need to get in line with the crytpo currency ecosystem if they want to stay afloat.... announcements like these tell the people that they were right in the first place...this relaization can create a panic buying frenzy and competition between the common person  and the institutional investors...._ if this is the case then the bull run back to $20000 and to the moon. Have began.

From your leaps to gods ear...

[hexwin 4931]

2 hours ago, xBDT Script said:

It was under $8k even few hours ago but now it seems spiking very abnormal. I am not complaining but interested to know the reason. The one I figured is possibly some whales just came to buy a big bag of bitcoin and this is why we are seeing this.

Check the hourly chart in Binance. It's crazy gain!

Anyone have any idea?

 

It is standard rollercoaster move, going up and down all the time.
I think walles like to play this games all the time, to catch small fishes 😉 

[xBDT Script 4371]

Seems like we are trying to take a break now moving form $8.2k ish from last few hours. 

 

From the day chart it's clear that the candles are trying to break VWAP line. If we see a significant move then we can tell that the bull will finally win the battle. It seems to be a very important day. It's just under the line now.

 

 

[andrehol 16294]

We all had hope. But whether this will be the long-awaited big growth will become clear in a few days. In any case, this is good news

[williamz902 696]

15 hours ago, xBDT Script said:

It was under $8k even few hours ago but now it seems spiking very abnormal. I am not complaining but interested to know the reason. The one I figured is possibly some whales just came to buy a big bag of bitcoin and this is why we are seeing this.

Check the hourly chart in Binance. It's crazy gain!

Yes, this looks like a whale buying lots of bitcoin. Usually these kinds of price gains are temporary. In most cases it will fall again to where it was before - or sometimes to a little bit higher than it was before. It's a good indicator that the price is starting to rise, and may continue to do so, but it's not a guarantee. I always find it exciting when the whales start moving!

[starwalkerz 164]

We're still in an overall downtrend in the medium term, but we're testing the moving averages. At most - unless the trend changes with new money entering the market - we should test the 200 daily. This is my opinion, not financial advice, DYOR.

[xBDT Script 4371]

4 minutes ago, williamz902 said:

Yes, this looks like a whale buying lots of bitcoin.

If a whale is trying to buy coins then we will see this will go under $8k again but if this is a normal growth like the bull do then we will see it actually have more uptrend.

I did not do deep analysis but I think we really have a very strong resistance in under $8.3k from last few weeks it's trying to break this but not getting much success.

[Simon 191]

Bitcoin does the opposite of what everyone feels, on crypto twitter everyone is calling for 6 k. I just don’t see it myself .... this is a Bull not bearish. I think between now and next April we could see a return to An ATH maybe even the moon.! 

[xBDT Script 4371]

8 minutes ago, Simon said:

Bitcoin does the opposite of what everyone feels, on crypto twitter everyone is calling for 6 k. I just don’t see it myself .... this is a Bull not bearish. I think between now and next April we could see a return to An ATH maybe even the moon.! 

It's true bitcoin is very unpredictable. We all were expecting a spike after BUKKT launch but in fact we have seen the opposite. The day we had BUKKT launch we have seen sudden fall from $10k to $8k but that was for BUKKT.

About halving we have history backing us. So we can expect a new ATH after the halving event.

[Paranoxxx 228]

4 minutes ago, pucukjaya said:

Now is the time for bitcoin to go up, and right with altcoin.
Is this bitcoin really going up or just the bait that will drop the price.

I would prefer the Altcoins will start the bull run and move up first. I have so many Altcoins I want to sell for a good price. I suspect when BTC move up first the Alts will bleed again.

[miskyming 1588]

Yep, I was surprised bitcoin pumps in just hour, well I don't know what is happening, I don't even heard about the good news in crypto or bitcoin.. maybe whales bought bitcoins for Christmas, I think...

[xBDT Script 4371]

5 hours ago, pucukjaya said:

Now is the time for bitcoin to go up, and right with altcoin.
Is this bitcoin really going up or just the bait that will drop the price.

I think we really do not know however looking at the price movement - it seems it is trying to break the VWAP line from yesterday. If it goes over $8.3 then we will see a rapid rise possibly. 

Here check the point I am looking at. $8,321 ish 

[xBDT Script 4371]

13 minutes ago, Itsmeeek said:

We shoukd be expecting $10k not $16k, the Market is still recovering but by 2020 it will boost

Well I am expecting bitcoin to break $8,321 first before making a move towards $9k or $10k. However I am confident that if it breaks the price point then it will really have rapid rise to $10k+ again. The price started to decline since the BUKKT lunch.

All of us were expecting the opposite though.

[natural 0]

it can't considered as sudden spike,  just a normal price in daily trading market. $7900 was the support level and $8000 still the resistance level. 

[xBDT Script 4371]

3 hours ago, Itsmeeek said:

Opposite 😎😎😎😎, is $8321 a strong resistance I haven't check my chart for long actually, because I bought it last around $8321 and Bitcoin is still laying at $8200

Opposite? You mean to say I had wrong terminology I guess. 

Well I meant resistance at $8,321 and if the price really cross that mark then we will see a rapid run to $9k. I hope it make sense now 😊

3 hours ago, natural said:

it can't considered as sudden spike,  just a normal price in daily trading market. $7900 was the support level and $8000 still the resistance level. 

 

Well this was the hourly chart and the way it moved upwards, it suddenly was a very quick spike. You seems more than 24 hours late 😆

[xBDT Script 4371]

7 minutes ago, Crazyjesus said:

I wish it were true and the rise we expect for the next year has been advanced, but I think we continue in the lateral movement of the last several weeks.

This is not a big rise by the way.

It's new few hundred dollars. It was around $7.8k to $7.9k for last few days and on a sudden yesterday it spiked to over $8.1k which raised the question. 

It seems staying over $8.2k now. I hope we will see it cross over $8,321

[Mohs3n71 0]

On 10/22/2019 at 8:30 AM, natural said:

it can't considered as sudden spike,  just a normal price in daily trading market. $7900 was the support level and $8000 still the resistance level. 

what about now ? :)) now we are above than 9.3k and you still think every thing is normal like always ? 😄

[xBDT Script 4371]

Just now, Mohs3n71 said:

what about now ? :)) now we are above than 9.3k and you still think every thing is normal like always ? 😄

Well you can not blame the user. He made this post when the price was under $8k and in fact 48 hours ago we were really not sure that we would see another quick rise and it would be over $10k.

No one in this world can predict with guarantee that which direction we are going. We can just speculate and a calculative speculations sometimes turns out to be true by the way.

Now if someone tells me what resistance we are seeing now then I will say it's at $11k

[Syedbesharat 5423]

On 10/21/2019 at 1:17 AM, xBDT Script said:

It was under $8k even few hours ago but now it seems spiking very abnormal. I am not complaining but interested to know the reason. The one I figured is possibly some whales just came to buy a big bag of bitcoin and this is why we are seeing this.

Check the hourly chart in Binance. It's crazy gain!

Anyone have any idea?

 

Its obesely some big investr came and pump the bitcoin.This Invester name is China.Now people are making buying and selling that make its price more abnormal.But  this will be settel down after some time and bitcoin will make his way to the top.Where all predictions are predicted.

[xBDT Script 4371]

Okay this topic is now generating lots of spam lately. Can mod please lock this topic. I really do not want to see spams in my topic and I do not have much energy to report them either.

 

Thank you.

@Bigpat @epidemia @Desais