Sudden rise in Bitcoin causes bullish rejection

[Matundi 4]

A sharp rise in the price of Bitcoin seen yesterday, December 4, reached USD 7,750, however, the force was quickly lost.

 

What many thought would be the beginning of a deep recovery of the price of Bitcoin, was only a movement of high volatility and little force.

Yesterday Wednesday, at 1:25 p.m. UTC, BTC merchants witnessed a strong movement, capable of causing a positive return of just over 7% in just 6 minutes, momentarily touching USD 7,772 in the Bitstamp exchange, and USDT 7,750 in Binance .

 

Why did Bitcoin rise yesterday?

In recent days, Bitcoin initiated a bullish transition that we hope will be able to push the price back towards USD 8,450.

Before the sudden rise, the price was making smaller and lower lows, but they were never able to effectively break the support of USD 7,300. 

The constant decrease in volume during this backward movement, and the previous bullish control, supported the increase in volatility of the sudden movement seen yesterday. 

From the fundamental scope, the reason is not immediately clear, however, the low prices for which Bitcoin was around, could be the main cause; This also caused the feeling of extreme fear to increase , a situation that investors generally take advantage of to make large purchases thanks to the excellent prices achieved. 

It is important to note that hours before the strong bullish movement, Bitcoin whales made really amazing transactions , possibly positioning themselves with large and new purchases. 

The batch of large transactions on December 4 began at dawn with a 43.564 BTC; Minutes later, 57,577 BTC, equivalent to more than 400 million dollars, were also sent to an unknown wallet.

Hours later, 2 large similar transactions were cause for alert; one for 56,277 BTC, and another for 55,877 BTC. 

Technical analysis of the current situation of Bitcoin. Daily Temporality:

From the graph of the price of Bitcoin vs the US Dollar with daily candles, the scenario has become totally bearish , after the recent rise will end up forming a candle known as an inverted hammer, which consists of a small body candle and a large wick , demonstrating bullish rejection, and consequently, greater likelihood of a subsequent bearish movement. 

Yesterday's candle also closed using the exponential moving average of 8 and simple 18 as dynamic resistances, respecting the bearish cross that still holds in this season. 

The RSI remains below level 50, which supports a bearish scenario for the following hours.

 

 

The body of the bullish candle causing the volatile rise has already been completely wrapped by a bassist. 

The space left by the strong wick of rejection may be filled in the next few hours, however we could see a bearish movement capable of reaching USD 6,800 again starting from the current price. 

The EMA of 8 and the SMA of 18 are making continuous crossings, product of the consolidation in which the price of Bitcoin is found. 

The RSI is above 50, which could support a movement that fills the space left by the recent wick before a subsequent bearish movement. 

The 1-hour candlestick chart shows a clear consolidation, and the immediate loss of strength of the volatile bullish movement seen yesterday. 

The simple moving average of 200 periods is operating as resistance throughout the clear accumulation period that is going through the price; while the moving averages of 8 and 18 periods are making constant false signals of crossings. Meanwhile, the RSI is still above 50. 

[Migo 7946]

Well in my opinion I think this is the market and we are seeing many prices in less period of time, I really not expecting any rising prices for now, I'm waiting for the new year 

[duncun007 3577]

its crazy how we see people changing their minds and statements as a lot of people who said the price will fall and now they saying it will go up and break 8k resistance.

[fuer44 1083]

2 hours ago, Migo said:

Well in my opinion I think this is the market and we are seeing many prices in less period of time, I really not expecting any rising prices for now, I'm waiting for the new year 

yes, even though it will go up it will be just a little, also though it will go down it will be a little. market will be stuck until the end of the year, there are no significant changes. we really have to see it next year whether it will get better or worse.

[miskyming 1588]

Well this is not the time yet that we can see bullish market.. maybe in the next year.. I think in the bitcoin halving event in the next year. Hopefully the price of bitcoin will increase.

[Mahi25 142]

Well as I would like to think I think this is the market and we are seeing numerous costs in less timeframe, I truly not anticipating any rising costs until further notice, I'm hanging tight for the new year, and its insane how we see individuals altering their perspectives and articulations as many individuals who said the cost will fall and now they saying it will go up and break 7.5k opposition.

[Muphin 459]

4 minutes ago, Mahi25 said:

Well as I would like to think I think this is the market and we are seeing numerous costs in less timeframe, I truly not anticipating any rising costs until further notice, I'm hanging tight for the new year, and its insane how we see individuals altering their perspectives and articulations as many individuals who said the cost will fall and now they saying it will go up and break 7.5k opposition.

I agree somehow. I think it is because we does not have the power to predict future, we can predict, yes. But it is not hundred percent that what we predicted would actually happen.

[positive 97]

The reason behind Bitcoin raise in price is simple cause simply the whales manipulation act for we are the season where ordinary crypto traders/investors hold and sell a little portion of their holding while the whales pump and slightly dump the market price.

[Castilian 69]

22 hours ago, Matundi said:

A sharp rise in the price of Bitcoin seen yesterday, December 4, reached USD 7,750, however, the force was quickly lost.

 

What many thought would be the beginning of a deep recovery of the price of Bitcoin, was only a movement of high volatility and little force.

Yesterday Wednesday, at 1:25 p.m. UTC, BTC merchants witnessed a strong movement, capable of causing a positive return of just over 7% in just 6 minutes, momentarily touching USD 7,772 in the Bitstamp exchange, and USDT 7,750 in Binance .

 

Why did Bitcoin rise yesterday?

In recent days, Bitcoin initiated a bullish transition that we hope will be able to push the price back towards USD 8,450.

Before the sudden rise, the price was making smaller and lower lows, but they were never able to effectively break the support of USD 7,300. 

The constant decrease in volume during this backward movement, and the previous bullish control, supported the increase in volatility of the sudden movement seen yesterday. 

From the fundamental scope, the reason is not immediately clear, however, the low prices for which Bitcoin was around, could be the main cause; This also caused the feeling of extreme fear to increase , a situation that investors generally take advantage of to make large purchases thanks to the excellent prices achieved. 

It is important to note that hours before the strong bullish movement, Bitcoin whales made really amazing transactions , possibly positioning themselves with large and new purchases. 

The batch of large transactions on December 4 began at dawn with a 43.564 BTC; Minutes later, 57,577 BTC, equivalent to more than 400 million dollars, were also sent to an unknown wallet.

Hours later, 2 large similar transactions were cause for alert; one for 56,277 BTC, and another for 55,877 BTC. 

Technical analysis of the current situation of Bitcoin. Daily Temporality:

From the graph of the price of Bitcoin vs the US Dollar with daily candles, the scenario has become totally bearish , after the recent rise will end up forming a candle known as an inverted hammer, which consists of a small body candle and a large wick , demonstrating bullish rejection, and consequently, greater likelihood of a subsequent bearish movement. 

Yesterday's candle also closed using the exponential moving average of 8 and simple 18 as dynamic resistances, respecting the bearish cross that still holds in this season. 

The RSI remains below level 50, which supports a bearish scenario for the following hours.

 

 

The body of the bullish candle causing the volatile rise has already been completely wrapped by a bassist. 

The space left by the strong wick of rejection may be filled in the next few hours, however we could see a bearish movement capable of reaching USD 6,800 again starting from the current price. 

The EMA of 8 and the SMA of 18 are making continuous crossings, product of the consolidation in which the price of Bitcoin is found. 

The RSI is above 50, which could support a movement that fills the space left by the recent wick before a subsequent bearish movement. 

The 1-hour candlestick chart shows a clear consolidation, and the immediate loss of strength of the volatile bullish movement seen yesterday. 

The simple moving average of 200 periods is operating as resistance throughout the clear accumulation period that is going through the price; while the moving averages of 8 and 18 periods are making constant false signals of crossings. Meanwhile, the RSI is still above 50. 

Hello Mr. or Ms. Matundi. Thank you for sharing the report. I have enjoyed reading it and it has given me a different point of view from what I thought the causes were. The author might be right.

[Thekingcallme 1975]

There are reasons for these rapid fluctuations in Bitcoin, including whales, the end of the year, and the activity of some governments

[Emma 611]

When bitcoin rises suddenly, people start to sell it to a large scale and then they just try to sell in any price which causes the price fall instantly.

[Sumayya 493]

No good or real prediction now in the universe. Everyone just say what is on their mind. I await to see what bitcoin will do

[Sasaki 171]

Well for me it's normal because it's volatile or maybe in the sudden increase whales are attacking. 

[suzuya 945]

Sudden fall and sudden rise of bitcoin's price is not that a big deal because it always happen since the coin is really volatile or unstable. This kind of movement depends on the coin's current supply and demand or the number of it's volume in the market.

[bentayebsalah 2280]

Yes, there is a sudden increase in the price of bitcoin, and usually the matter is due to the manipulation of the whales in the market, which makes the direction of bitcoin going downward and not developing.

[Brushless4500KV 4214]

On 1/27/2020 at 6:09 AM, suzuya said:

Sudden fall and sudden rise of bitcoin's price is not that a big deal because it always happen since the coin is really volatile or unstable. This kind of movement depends on the coin's current supply and demand or the number of it's volume in the market.

Sometimes we need big price jumps and falls because it lets us to start all over again and invest when the market crashes and prices drop severely. It also helps those who have bought bitcoin at high prices and had gotten stuck in their trades because they don't want to sell to lose their money. Sudden jumps in price can rescue these people to save their investments from the market. Any changes in market trends can benefit some people and hurt others. We should not expect the market to move only in a direction to our favor.

[MohammadMohsin 569]

I agree with you. Cause the price of bitcoin rises suddenly that time and now we all are waiting for the next bull run. So I hope it's gonna be great. 

[bliznec 22267]

It seems to me that bitcoin has started to grow, due to the fact that an investor has come to the cryptocurrency market who buys bitcoin. This is nothing special, because there are whales that make a bet higher. 

[skbo 16]

spring up in my belief I ponder this is the marketplace and we are as a lot of prices in take away spot of time, I genuinely not in the family way any rising prices for now, I'm in the making for the new year 
 

[Muskan7816 175]

We create morale traders / investments for the Wheel Manipulation Act and keep some of their ideas and whale pumps and a bit of market value dumps. The Whale Man Manipulation Act behind the Bitcoin is for the whale harp law

[Gg233 1061]

That is really good at that time to buy if only I have some capital then I already buy bitcoin when it has that kind of price no matter wat they say it will remain good coin all the time.

[Sumayya 493]

On 2/12/2020 at 1:46 PM, MR WiN said:

I think The reason behind Bitcoin raise in price is simple cause simply the whales manipulation act for we are the season where ordinary crypto traders/investors hold and sell a little portion of their holding while the whales pump and slightly dump the market price

It might not be the whale but the halving that is going to come. It is the Halving that is pushing the price now 

[Amirul Islam 382]

On 12/6/2019 at 1:46 AM, Matundi said:

A sharp rise in the price of Bitcoin seen yesterday, December 4, reached USD 7,750, however, the force was quickly lost.

 

What many thought would be the beginning of a deep recovery of the price of Bitcoin, was only a movement of high volatility and little force.

Yesterday Wednesday, at 1:25 p.m. UTC, BTC merchants witnessed a strong movement, capable of causing a positive return of just over 7% in just 6 minutes, momentarily touching USD 7,772 in the Bitstamp exchange, and USDT 7,750 in Binance .

 

Why did Bitcoin rise yesterday?

In recent days, Bitcoin initiated a bullish transition that we hope will be able to push the price back towards USD 8,450.

Before the sudden rise, the price was making smaller and lower lows, but they were never able to effectively break the support of USD 7,300. 

The constant decrease in volume during this backward movement, and the previous bullish control, supported the increase in volatility of the sudden movement seen yesterday. 

From the fundamental scope, the reason is not immediately clear, however, the low prices for which Bitcoin was around, could be the main cause; This also caused the feeling of extreme fear to increase , a situation that investors generally take advantage of to make large purchases thanks to the excellent prices achieved. 

It is important to note that hours before the strong bullish movement, Bitcoin whales made really amazing transactions , possibly positioning themselves with large and new purchases. 

The batch of large transactions on December 4 began at dawn with a 43.564 BTC; Minutes later, 57,577 BTC, equivalent to more than 400 million dollars, were also sent to an unknown wallet.

Hours later, 2 large similar transactions were cause for alert; one for 56,277 BTC, and another for 55,877 BTC. 

Technical analysis of the current situation of Bitcoin. Daily Temporality:

From the graph of the price of Bitcoin vs the US Dollar with daily candles, the scenario has become totally bearish , after the recent rise will end up forming a candle known as an inverted hammer, which consists of a small body candle and a large wick , demonstrating bullish rejection, and consequently, greater likelihood of a subsequent bearish movement. 

Yesterday's candle also closed using the exponential moving average of 8 and simple 18 as dynamic resistances, respecting the bearish cross that still holds in this season. 

The RSI remains below level 50, which supports a bearish scenario for the following hours.

 

 

The body of the bullish candle causing the volatile rise has already been completely wrapped by a bassist. 

The space left by the strong wick of rejection may be filled in the next few hours, however we could see a bearish movement capable of reaching USD 6,800 again starting from the current price. 

The EMA of 8 and the SMA of 18 are making continuous crossings, product of the consolidation in which the price of Bitcoin is found. 

The RSI is above 50, which could support a movement that fills the space left by the recent wick before a subsequent bearish movement. 

The 1-hour candlestick chart shows a clear consolidation, and the immediate loss of strength of the volatile bullish movement seen yesterday. 

The simple moving average of 200 periods is operating as resistance throughout the clear accumulation period that is going through the price; while the moving averages of 8 and 18 periods are making constant false signals of crossings. Meanwhile, the RSI is still above 50. 

Because of many bad news in the market we saw massive crash in 2019 year. But at end of the year we got many good news about it and the price of crypto rising good. Now we cross $10k price within a month.

[amara123123 76]

We saw many times suddenly rise and fall in the price of bitcoin so enjoyed to this volatility of this market. But it is crashing for altcoins market if btc suddenly rise or fall. 

[babaji 1228]

When I read all these posts trying to generate or work on a pattern that bitcoin follows, I only feel sad to see they are so very wrong, Look at two months later and bitcoin is at 10k, so where did the rejection go. What it means is, its good if you can come up with great ideas and strategy, but it is even wiser not to trust them completely.