Bitcoin price this march has a possibility of reaching 12,000$?

[Winwin12]

As we are looking the price of bitcoin,before ending this month(february)bitcoin price really dump after having 10,000$+,it goes down until 8600$ and lower,as we are now starting the month of march,do you think it will boomb the price ok bitcoin until 13,000this month(march).

 

Me;yes,why? Becouse this is the year when the bitcoin price really increase.

You??what do you think.?

[evet]

I cant say for sure that it will hit $12k this month or the next, but Im sure it will pump. Some others are even predicting BTC reaching $20k next month haha It's too early to say but nothing wrong with predicting. Just make sure you make it realistic enough so you wont get so much losses in the sudden pumps and dumps.

[Ali saher]

In my opinion in think month price again go up 10k plus USD but I not think price touch 12k USD. But in 2,3 months I think bitcoin price give some surprise and reach maybe 15k USD. But this month I don't think price up so much.

[ScooterPi]

I really wish I understood more about coin prices.  I understand that volatility is the nature of it.  But it would be awesome to understand it well enough to get some profit in trading.  

If anybody has any info to share on that, I'd be glad to see it.  I think trading would be an interesting form of gambling to try out

 

[sahil777]

no i dont think in this march, it will be at 12k i am also convinced but i think it can take 4 or 5 months or more for now it will stay between 10k to 7k for few months more, because there is uncertanity about many countries current situation economicaly and also corona virus and in india urban war can cause some impact on cryptos in coming days.

[allisonn]

12k in march? Unlikely. I'm not convinced it will break out to that point. All of us wouldn't mind some moon action but I'm not sure this is the correct time to call it.

I stand behind what I said, if it touches 12k within March I will rain a total of 0.01 on anyone posting in this thread in the first few pages.

 

 

[cryptobird71]

Heres a topic I can get into thats for sure.  I trade the stock market and the crypto market for main sources of income.  You can check out my Trading View Profile as well.

 And Despite all the myths about technical analysis, Yes it does work.  Even in crypto yes.  Even something like Simple Trend Analysis. 

Now to get to the Bitcoin Price action  This below is the BTC/USD chart from BitStamp.  Reason I am using the BitStamp chart is because it is the chart on Trading View that has the most amount of data ranging back furthest in time.  This chart measures from September 2011 all the way through Current date. 

 

Fundamentals

As far as current events go, Bitcoin specifically is like the honey badger.... Honey Badger dont give a shieettt about corona virus or unrest in the middle east.  Hell, if anything it will cause more demand of the market, and cause a price increase at that point.

Remember the mindset during the 2017 bull run that everyone had when we went to break the $10k price...  It was welp theres the end of the bull run, we had a good run this year.  but after a a few small drops in the mid $8k and mid $9k levels, we had RIPPED right through the $10k price point and found ourselves up at $18k within 18 days after we broke the $10k level

Mind you that was mostly retail investor trading... so FOMO essentially.  Not institutional. 

An example of what the institutional money  can do is what happened after bottoming at $3k.  $6k should have been massive resistance but we cut through it like a hot  knife through warm butter.

After hitting the $10k, $12k and $14k regions like we have already and putting a huge dent in the resistance we are looking at slim pickings of what bears want to be bawlsy enough to stand in the way of that next  move upwards.

 

 

Simple Technicals:

No this isnt my normal technical analysis, but I made it to where its easy to understand for everyone.  I even put in little notes lol

Bitcoin has just dropped in the past two days form $9,200 and touched the $8,100 and currently is holding as support at $8275, on top of a consolidated zone of support.  Now at the bottom of the falling wedge (which is a bullish continuation patter) we are looking for confirmations of the following steps.

1.  Even if we drop down to a fib level, as long as the $7500-$8k support box  holds support and we break the falling wedge that has formed

2. We can start making higher lows in the symmetrical triangle formed by macro downtrend resistance (symmetrical triangles = continuation pattern). 

3.  Take out the macro downtrend resistance from the $20k bubble pop. Which is forming the  symmetrical Triangle with the lines ive extended out to the right  from the $20k and $19k price points.  When you do so you find it lines up with our lower highs we have been making since we topped out at $14k.  So the lower highs after 20k are: $13.9k, $12.9k, $11.9k and 10.5k 

 

 

All these numbers are rough estimations and are based on confirmations of the market moves but this is what i am seeing for the foreseeable future.

By my extrapolations calculated, I see us breaking the $10k price point in the very near future

I see a break of the bottom resistance line for the symmetrical triangle at the end of the month of March, bringing BTC up to the $11k price point by early April

Which then we would break the second line of down trend resistance of the symmetrical triangle; depending on the momentum at that point we could break it around the $11.5k-$12k point and  test it as support or just continue a rip upwards, but I have my money on the continuous rip upwards. 

Around Mid April we look to break the $13.5k to $14.5k and hold support above the solid white line (the first one above the green dashed line) and hold support above there at $13.5k.

NOW This is where things get interesting.  My testing shows us breaking up toward an attempt at the all time highs of $19k-$20 in the beginning of May. 

We all know what May 2020 is going to host.  The Bitcoin halvening.  In Bitcoins History that has always made the price go up, but that was with only speculator traders in the market. 

Now that we have institutional players and markets in the space trading you have to consider at this point we have moved up at least 2x and those guys have to take profit eventually.  SO what better point to do so then the Bitcoin Halvening when alllllll the retail investors are going to be FOMO buying  giving them the opportunity to take profit/dump on the FOMOers. 

 

Also dont bite my head off too hard, I did this all in maybe 20 minutes lol... while working haha

                                                            

 

 

[allisonn]

On 3/6/2020 at 3:07 PM, allisonn said:

12k in march? Unlikely. I'm not convinced it will break out to that point. All of us wouldn't mind some moon action but I'm not sure this is the correct time to call it.

I stand behind what I said, if it touches 12k within March I will rain a total of 0.01 on anyone posting in this thread in the first few pages.

 

 

Was slightly worried that I would have to pay up.

Few days later, not worried at all.

One day later, suddenly very worried that all of crypto is going down the drain 😱

[Kompo]

Sorry to say that but your prediction is totally wrong brother... The price of btc go down just for the hit of corona virus..if not corona come then there has a Chance that btc will hit 12k in march bro..hope you understand