Sudden rise in Bitcoin causes bullish rejection

[jacker 1095]

indeed at the end of the year I had high hopes that bitcoin would increase in value but I knew that this was very difficult. Bitcoin even fell. I thought it was more open and according to many analysts February and March 2020 have more chances to rise.

[Babubu609 0]

On 2/23/2020 at 6:41 AM, Babu Mohammad said:

when bitcoin rises i didnt know o man me speacilly don't think anyone has a problem with this.

when in a state of affairs while bitcoin it'll now forestall the bullish form happening.

[Shaza Ahmad 1682]

I think everyone failed to anticipate the price of bitcoin. Bitcoin was shaved to $ 20,000 when no one in the world expected it to reach $ 100 and fell overwhelmingly to $ 3,800 when everyone expected it to rise.

[teminalibug 309]

On 3/31/2020 at 12:30 PM, Qpella said:

Very good write up and useful information.i believe the sudden rise of bitcoin is not without a reason.the price of bitcoin is always fluctuating and not stable at all.

There are two major reasons for these increases, one is panic of investor to buy coins out of FOMO and the other is manipulation.

[Saj555 2250]

The bullrun is happening now in the crypto market. The price is fluctuating daily. And in a day the price has gone far away because the btc price has increased from 7k to 9k in a day only. The market is up now. The cryptocurrencies are in a good position now and people are also acknowledging the improvements in the crypto world. 

[imr 43]

I saw Bitcoin prices rise suddenly but it was noticed for a few moments that it would take the opportunity because it was a great rise in value that would have been good profit. 

[Tine0313 3053]

I think bulliesh transition is happening today April 30 of 2020 since earlier the price of bitcoin really pump up to $9000 and now it goes down to $8600 i hope bull run happen next week.

[BrolySSJ 7899]

As you can see by the current market there is also a rise that is taking place at the moment in the price of bitcoin and this is most likely due to the upcoming halving event and therefore there are many purchases that are being made in terms of bitcoin in anticipation of this event which i think is a very good indication of the potential that this halving event can have on the price, most likely exceed the 10000 dollar mark within the next few weeks.

[Rezort 846]

I noticed that in April to May the history of December is repeating right now, we can see the bullish trend again that pushed bitcoin to higher than 8 thousand dollars.

[Amir Vao 341]

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. 

From starting of bitcoin journey we saw many bullish moment and jump on bitcoin price. But in the 2019 year we saw maximum dump on its price. I think it ended by 2019 ending.

[George10 9932]

Sometimes Bitcoin predictions doesn't get fulfilled because of the game changers who we call whales who does manipulate the crypto market and affect the price of bitcoin sometimes to cause a short price pump or dump making people to change focus.

[Laboni 755]

Bitcoin's volatile rejection is due to the fact that Bitcoin is not stable. Bitcoin's price rises sharply and then falls sharply. We can make a lot of profit due to rising and falling prices. However, the bulls will not be able to influence Bitcoin. The price of Bitcoin will increase.

[Treat1234 0]

We are expecting the bearish zone to round up any moment, because the halving is fast approaching and there us hope for a good bull run when it is done

[BTC Future 3946]

On 4/30/2020 at 3:35 PM, Iambee said:

Yes finally after long time Bitcoin is started to increase. As before all are waiting to increase the value of the Bitcoin so that they may use it for trading or exchanging or for the investment so sudden increase in price of the Crypto currency may as well increase the transaction.

Actually the original post was published in December, covering a totally different price activity. It might looked similar and got you confused though.

[Virgil dijk 1431]

Since the price price movement of cryptocurrencies depends on demand and supply, I would possibly say why the price rises is because market noticed a higher amount of demands.

[TimopheyKa 3900]

I also always wondered how the price system works. That is, today the bitcoin exchange rate is low, and tomorrow it soars so high that we can get a profit of 2 times more! This is an amazing phenomenon, very!

[rvherrera 137]

The movement reported in this thread gives us movement lessons that traders should set guidelines for the plays to be made but many times we forget them. BTC has us used to surprises, big moves and a lot of volatility. Do you consider fractals? I think this year they will give us surprises. Thank you, good luck, success and profit !!!

[Tannah 1228]

Rising and falling prices are common to all coins. We have seen the rise and fall of bitcoin prices many times. I think buying when the price of Bitcoin goes down and saving when the price goes up.

[Moaz 7239]

Bitcoin prices are always changing, as its price may rise dramatically and then decrease in a short time. I think this is an imaginary rise. Bitcoin price is affected directly by supply and demand in the crypto market.

[EnrickJoe 41]

my opinion I think this is the market and we are seeing many prices in less period of market will be stuck until the end of the year, there are no significant changes, this is not the time yet that we can see bullish market..

[Sarahden111 1231]

In general, the rise of Bitcoin depends first on the amount of liquidity that is pumped with it on the market side. As for the analysis, the rise of Bitcoin is by breaking the downtrend from the last peaks it has achieved and according to the frame that uses large or small.

[playman64 11]

Hope it break tge 10500 soon. Thanks for sharing.

[Alimhana930 1605]

Bitcoin is distinguished by its violent movements and thus there are withdrawals of liquidity from the market, as it tries hard to violate or intimidate traders through these movements and be a cause for fear for people who use financial leverage, unlike the spot trading. 

[its.cryptologic 163]

With so many earning methods tied to BTC it is hard for it to grow very fast without people cashing out to stabilize its price. There are many other factors but the BTC price and its resistance we have been seeing is great. 

[Mosab73 333]

This is how the markets are, when thousands of bitcoins were stored in an unknown wallet, the price of which was raised in a smart way, and thus the sudden rise in the price of bitcoin occurred. The manipulation of prices by bitcoin whales is what caused this shock in the market.