Bitcoin Forum

During a Bitcoin price explanation, Sluymer said that he believes there is “some very important levels coming up for Bitcoin literally in the next couple of days.” Even though Bitcoin’s price had failed to make the expected rally in May -- one predicted by Fundstrat’s Tom Lee -- Sluymer notes that Bitcoin’s longer term price trend is still “technically up” with $9,500 as its critical level.

According to Sluymer, Bitcoin is now set up to “challenge its downtrend:”

“When we think about what does it take to turn a security, a market, a cryptocurrency around, it first needs to bottom, then it needs to reverse through that uptrend or downtrend, and then it needs to turn that trend positive. So we have step one in place.”

Sluymer did note that there are “plenty of technical bears out there” that are predicting price bottoms as low as $5,000 or $3,000, but Sluymer believes that Bitcoin will rally if it just gets through the $7,800 level.

In spite of the failed rally, Tom Lee stated in May that he still maintains his prediction of Bitcoin hitting $25,000 by the end of the year.

Bitcoin is currently trading at around $7,592, down almost 1.5 percent over a 24 hour period to press time.

Do you think so ?

This past week, there was a fresh upside wave initiated from well below the $10,000 level in bitcoin price against the US Dollar. The price formed an intermediate low around the $10,100 low and moved higher. The most important thing is the fact that the price is now well above the $10,200 support and the 100 simple moving average (4-hours).

Really happy to see these kind of expectation mate. I have invested on Qtum and IOTA few days before expecting the marketplace will be recover and bitcoin also expecting to reach the 10k USD or even more in this month bump.
Because every month we are seeing certain days with the decent bump in the market. So if you are trader you guys can utilize the situation to get the profit with the investment.

yes it is like that, if according to my prediction correct. then my guess in next August BITCOIN will go back to green. and in the coming november will rise drastically.

On the bolded, I think you need to update the details there because going by the date the post was made, which is yesterday, bitcoin was not trading at anything close to that amount there and even now, price is still struggling to cross the $7000 mark. As at now, there is no other option than to remain optimistic because what other worse thing can one have when the price has experienced some downward trend couple with point of stagnancy in past cooule of weeks.

I think they guess all true bitcoin will be green back lg in the future. if the price of the coin bit will drop with d
the price is so low that I do not think it will be possible. because the enthusiast bits of coin continue to grow. indeed at the moment the coin bit price goes down but at the beginning of the year will definitely be back green. like a years ago. I strongly agree with your estimate now that bitcoin will rise beyond last year's price.

That's necessary that bears will come but I'm thinking that we're done after those technical bears that Sluymer is saying.

It's been several months that we're on the downtrend and yet he still assumes that it isn't enough before the uptrend comes?

Do you have the link for this article?