Bitcoin Forum

https://www.coindesk.com/bitcoin-bounces-back-from-sudden-dip-eyeing-move-to-8400/

After dipping slightly below 8k, Bitcoin seems to have bounced back over easily today. This is huge as many were concerned that that it would struggle to find support at its highest point in a while. Everyone should be expecting a minor step below 8k anyways. This is just a minor correction as is normal with this type of growth. This will be a good time to load up and play along with the natural growth cycle.

Good Luck Traders,
The Elysian Team

8K at least shows that it is not going to fade away, there is demand for bitcoin and it will continue to rise. The next barrier to breach is at 10k, once it goes past that figure there is no going back. Better get some 8k bitcoins!

8K is not bad at all, but still it's no bears to bulls reversal. The price should be heading to $8500, but at the moment it's only $8100. Should bitcoin reach $8500, then we know we're in a bullish trend and the price could increase to 12K again.

Patience, this is the key. Your question is same with the peoples who asked when bitcoin price rise to 10k, but it asked 2 years ago.
as you can see now bitcoin and cryptocurrency market start to being green. just wait it.

one small step? I fear that if in a few days we remain at $ 8000, the price drops to $ 6700, based on the analysis I read there, it seems that some agree with this possibility of falling to $ 6700 if the price remains for a few days at the levels of 8000 $ without uploading. Of course this is just my guess and it's not financial advice and I do not advise anyone to trade based on my opinion.


I like this $10,000, but it seems like it will be very difficult to reach the $10,000 price so early, we do not have great news to boost a big price increase, it seems like every day the good news is absorbed by bad news



hahahaha

https://scontent-ort2-2.cdninstagram.com/vp/8dd5214b7b91e387d701378015efdb14/5B4F2BDD/t51.2885-15/s640x640/sh0.08/e35/29417921_1695463897207145_1876671902559240192_n.jpg

just kidding

you can not expect the transition between bears and bulls to happen this fast. it will take time and lots of ups and downs before there is no more bears and bulls are back on top of everything.
same thing happened wit the opposite transition from bulls to bears a couple of months back.

But the next mental barrier is $8500, we have a good attempt just a couple of days ago when bitcoin went as high as $8100-$8200 then went on a another correction around $7900-$8000 but it seems we have bounce back again. I hope that this time we can go and break $8500 and see if is going to be sustainable to $9K-$10K levels at the end of the month.

I have see this and that is how price should behave and that means that the volatility is reducing. Bitcoin need to respect an established support area aND this in turn will create confident in pricing which in turn will help crypto currencies to grow.

$8500 isn't a mental barrier at all, not sure why people keep repeating this. It's basically what the media has been echoing; this week is Bitcoin's make or break week!

It's just a poor form of journalism and analysis not leading to anything. Whether it's next month or the month after that, or the months after that, eventually the price will keep going up anyway, so there isn't really anything to expect right now. If we don't make it past the $9000 level, then we don't, no big deal. People keep hoping for a miraculous increase leading to +$10,000 levels, but what if the market isn't ready for it? While people consider current levels to be low, they completely discard the fact that the current price is $7000 higher than last year's price. People focus too much on the peak last year, which only makes them feel bad about current market, while we are doing better than ever before.

with its many offer deals on the market right now, maybe this will be a very important support for bitcoin prices. I know how important the support we need right now is to increase the price again. at least we still need some positive news for the price. the market continues to pump prices, I'm sure, bitcoin price as soon as possible breaks the $ 9k - $ 10k mark, if it has broken through that number, I'm sure the price will never fall back again.

IMO, If we're gonna talk about "mental barrier", rather than 8400-8500 I'd say a 5-figure target is a mental barrier, for example $10000. To me these 8500 just looks a small hurdle. And I don't think it'll take too long before we go past $8.5k, however, the $10k level (or close to 10k) at the end of month does look like it's going to be a bit harder to see, that would be a massive spike in the price in just 11 days, I'd rather see a slower upward movement.

$8500 isn't really that hard to achieve IMO, seeing that we gained over $1000 in a span of a week. I'd rather say it's a form of a resistance level but certainly not a mental barrier. $20k remains to be the real mental barrier as it is really hard to cross right now. Even in the previous bull run, we only fell short by $500 only for the price to crash so hard back to $13k then $6k.

Anyways, support levels seem to have established pretty decently in $7800 and $8000 respectively, with stronger $7000 support already in place if the bearish trend appear yet again. This is a good start: slowly climbing back up and establishing crucial supports. I hope this is not another bull trap since it will really be a bummer if it is.

I think this natural growth will come, but I'm not sure if we found the bottom yet. There are respectful technical analysts who predict lower bottons, at around $4000, before Bitcoin goes up again to these values that people are expecting.

Few more hundreds to go, bitcoin at $8,231 now.
Natural growth cycle in a way that it's rise will depend on how big was the correction. Let's wait until the weekend on how bitcoin will react, most price changes are happening during weekends base on my observation.

this is not support , a manipulator bought 20k btc from 7k then it came to here he controls price , probably will drop it to where it started to collect low again just as a month ago , if you have money you can convince people easily  :-*

it is interesting to see how the media changes their whole articles trend with bitcoin trend. before it was all doomsday scenarios and everyone was talking about bubbles and such things. now that the first leg up of the rise showed itself on the charts the media is starting to change their articles into more of a bullish news. in past couple of days i have seen at least 2 dozen articles speculating prices above $100k for bitcoin in near future!


sorry to disappoint you but nobody is expecting $4000 for bitcoin except you ;)

I think the problem is that the owner of Bitcoin follows the price on a daily basis and sees the change for the short-term (mostly the daily change on the trading platforms).
Although the strongest drop was at $ 6,000, it was much higher than last year or any other year.
In the end, when you deal with the value of the Bitcoin/USD, it has to be centered around market laws (the price can not rise for ever).
High volatility is the best chance to achieve maximum gains rather than random selling[not always bad].

This is really interesting. Price swings are getting tighter then ever.Price is going to break out to a way but i am not sure which way it will go.
I hope its going to upwards and give some profits to me. But if it breat out to downwards we will  hit 4500$ for sure.

Support at $8k seems quite strong at the moment.

Market sentiment probably also shifted a little to the more bullish end of the scale as well. So if we consider that effective support is at $8k, and the bullish sentiment in the markets seems to be back, I do think that there is a huge possibility that this pump sustains for a fair amount of time (2-3 weeks further) before a correction.

But the correction is imminent, in my opinion. I think the ceiling for BTC's price is quite lo this year and it would be extremely hard for the markets to all of a sudden swing fully in favour of the bulls and set an all time high or anything of that nature.

Yeah, we are about to see either the next leg up or down... 2013/2014 bubble tells me we would be heading down, but obviously the market is significantly bigger and different this time around. We could see a slow rise over the next year if the market has truly turned bull; $25k - $30k could be a possibility by EOY.

I wouldn't say that it's the best time to load up right now, because there is still a prospect of a correction swooping in all of a sudden. It's not rare to see this kind of rally in a bear market, although they are usually short lived.

However, the signs for another pump is here.

$8k support, as you mentioned, is established pretty thoroughly. We can see that since price rebounded within a day of it dropping below the $8k mark and is now making its way back up to $8.2k. The major hurdle here is $8500, and if that is hit, it is a signal that BTC will most likely go over $9k in the short term.

But as I've stated before; I don't think that $6k is going to be the true bottom of the bear market and there is going to be a big probability we are going down further in this overall bearish trend, even though we are rallying hard right now.

Many of us have observed that it was really stick to this value and did not fall again in which Hopefully that the pump that we are waiting for will start to this new average baseline so that we could start to acknowledge that the market will going to become healthy once again as this will slowly to attract more investors in the coming days.I just hope that the future banning of Crypto currencies advertisements will not affect this developments as it will delayed the pumping process once more.

I do also see and notice that bitcoins prices are now slowly getting stable at 8k average price. This is literally a good sign for us hodlers that there maybe a huge pumped coming ahead, however we didnt actually know what time or date it can happen.


Banning of crypto ads are now already happening ever since last month and that banning do actually have a major drawback on the prices of cryptocurrencies because many potential investors will not probably see those ads that have posted on online sites or social medias such as facebook and youtube.

Bitcoin has the actual support at $7900 and the upper support level at $8600. Bitcoin has been hovering around $8000-$8300 for a while now. The next 5-6 days are crucial and will determine the actual price trend whether BTC breaks lower or upper support. I still believe bull hasn't entered the market and hence we will see another dump.


Bitcoin remain stable at $6k levels when the news of advertising ban surfaced. Also, under the excessive selling pressure and some negative news from India, Japan and South Korea, bitcoin didn't break the strongest support of $6k. Hence, these news now don't have any bigger effect on price action. Market absorbs such news without actually panicking. I don't think we ll see any major effect of this advertising ban in future

The fact that we have tested that region twice after that break out is a good start, but no need to be over happy for now, and sure it is good to see that happening, but we still have some pretty huge ones ahead of us.

The question now is are we going to be consolidating for a while, are we going to fail and fall back lower or are we going to be heading up from here probably after consolidating ? These are the questions we are expecting some answers to in the next few days, weeks or even months as the case may be.

Support is actually precisely at 7800. We have had a huge bounce from that spot and I was actually surprised. It seems the market really want to go break some huge resistance walls but the bears still do not want to take that chance yet, with that support at that spot, we can as well just believe that the market may have to move sideways for the main time before we start seeing the possibility of any uptrend. I guess it is time to even start accumulating the more.

Well those ad bans may have exhausted their effect already and people have moved on and confidence is slowly returning. Though i'm not expecting any drastic pumps anytime soon, there probably will not be amy significant corrections. This is a chance for alt holders to check their portfolios again