Bitcoin Forum

Interesting to see where this heads. With the CAME contracts coming to an end, I feel Bitcoin will move up. Perhaps towards the 14,000 range. Let's see the support around there

True! Since last 4 weeks, 10k support looks crucial. But in crypto world, methodical technical analysis doesn't always proved true so it may be wrong as well. But I have noticed one trend since this time, that on every weekend, bitcoin price is going up to 13k level and then quickly coming back to 10k level. That is a great opportunity for the speculators to earn few extra bucks even in this stabilized market. But the current trend is obviously making 10k a very strong support and I feel it is a good price to enter at least for the time being.

And 10k hold again.  :)

Every purchase at 10k was like a penalty without goalkeeper

One week ago,i was thinking that 13K USD is the "support level" of the bitcoin price and there`s no way it can go under 13K.Now,it`s between 10K and 11600 USD and i don`t see any signals for an upcoming bulish trend.
I don`t believe in the "strong support" for any price level.If the newbies find a reason for panic,they will conduct panic selling again.I just want to gain more bitcoins and HODL. ;D

there are no 'strong support' at this moment because it's been pumped so hard,
just like what people said,
when we're at $17.000 people said that $15.000 was its support.
but it broke that level and went down a bit deeper.
it's all about people point of view.
always do your own research and never believe what people says to you without a solid evidence behind it.

Of course it's still a great support if we consider the fact that transaction fees were very high these days, some exchangers closed registration on their websites, also remember panic in korea and a lot of things. If price won't be under 6K, I will have a hope of rise of bitcoin. With current big suppory, it just won't fall. The trust that this coin gained is unique and nothing can change it, many people thinks that nothing is as safe and decentralised as bitcoin.

you are correct about the support but about buying I have to say it depends on your strategy. so many investors have longer term strategies when it comes to investing in bitcoin and that means whenever there is a dip like that, people are going to happily buy it even if it is around the support and it may seem riskier. that is because even if price goes lower, your strategy will end up in profit.
besides buying around the support is not as risky as you may think because it is the support after all. it means it will resist any big drop and so far we have seen whenever it falls under it, price jumps back up fast.

i think that we are still in swinging time, and that time is going to last till chinese new year
10.000 usd is undoubtely a strong psycological support, a new floor that would make easier to touch a new ath before end of june 2018

That's the whole point. People just look at the charts and base their 'support' on what they read from the chart analysis. The lower the price drops, the lower people will drop with pointing at certain levels to be the next 'support' base. This market puts all people's technical analysis to waste most of the times, and I am happy that it is like that. Even the $10,000 level is not a base support level, and we have seen that it went below that level two times already this year - people saying otherwise are just blind. It takes no effort to get the price to tank below that level.

With $191.367.051.980 in capitalization, is impossible to pump (or dump) artificially Bitcoin. Maybe when price was 50 time less than now, some little pump was possible too. But not now, now with this market volume  :)

You are right but the question is how long will this support last? Will it survive and overcome the selling pressure everyone has got? Whatever happens I am sure that the result would be exciting to see. If it dumped and support has been totally consumed, I am sure everyone would be glad to rebuy back at cheaper price. The same way will happen when it pumps. The only difference is that everyone would be happy because those who have Bitcoin gained profit again.

i wouldn't use the words "pump and dump" but i have to say it is not impossible to manipulate the bitcoin market. we have seen multiple examples of it already. have you forgotten the Jaime Dimon "bitcoin is fraud" thing?

of course it is getting harder and harder to manipulate the market as it grows. but it will never make it impossible to manipulate the market, just like any other market!

I am more than ready to accept whatever the market headed to , bullish? I have some holdings , bearish? I'll buy more at the dips.
So nothing to worry for me as i believe bitcoin value in the end will make everyone feel happy.
Yeaaa it is always the matter of time when it comes to predicting bitcoin price to increase , the bubble is not exist here.

What is that for nonsense? Bitcoin for large players is pretty easily to manipulate considering how thin the markets are, where you also have to take into consideration that just 1 exchange is needed for that.

If you're able to move the market of a leading exchange, you'll be able to move the entire market as result of that. You shouldn't really pay attention to the market cap since it's only a statistical figure.

Don't forget that the market movers of back in the days have been growing alongside the market, which means that they have become more wealthy than ever before. It's as easy as always for them to achieve the same result.

It's risky but if you are a strong believer as you've been bitcoin hitting $20,000 before there's big possibility that it can get back there so buying on level right now is a good choice. The risk I would estimate is minimum, coming from $20,000 down to $9,900 and now at $11,200? It's not a bad pick.

That's quite late already we've been on that price and I don't think it will be back there again.

Selling pressure? The reason why the support is this strong is probably because most of the weak hands have been filtered out already and have sold at a big loss. I don't think they'll be inspired to buy back to btc again lol. I'm just keeping it cool with my btc holdings and will patiently ride this unsteady tide.

I do not like at all the weakness that shows every time Bitcoin reaches 11,200$ . It really looks like it has no more gas to run.
In addition, ripple fall confirms that the trend is not currently bullish. I think we started lateral phase, with prices moving within a well-defined range. This phase, which could also last for some time, will reap the speculators from the market that will abandon some coin. So we will see days in which from time to time there will be some coins with drastic decrease in daily volumes due to the gradual exit of speculators who will no longer find interest in being in these coins.

true, but i believe if bitcoin starts remaining in this "well-defined range" and traders become sure enough of its stuck-here status, we are going to see some serious move into altcoins.

that has been what usually happens whenever bitcoin is like this. everyone moves on to altcoins to pump them. and i am not talking about top altcoins which are already over-pumped. i am talking about all the rest of the coins which were pumped last in March to May of 2017.

thats a good insight sir, i agree that buying in a support level is risky as i have experienced it many times before, i should have set more lower entry from the support level, that way it will be safer than sorry. :)

If this bear trend extends to the next month, we can go as low as 5k. Bear markets are irrational, but this time theres some resistance, so it will fall slowly.

Bitcoin is being "tamed" by CME. You can deny it if you want. The only way to free the honey badger from its captors is releasing LN and Schnorr signatures, as this will increase demand from average people. Only then, we will go to 25k and beyond.

This is an important point. No one really knows how much support is actually at these levels. It's pretty much impossible to know unless you go through buy orders on every exchange, and some exchanges don't even offer that information publicly.

I think the reason OP and many others believe the 10k price is a support level because it has held up in the past. Of course, that may be bad logic, but if it's happened multiple times (as in bitcoin dropping below 10k and then bouncing back up), there may be a relationship between the price and a potential support level.

I hope so , but if i look at people around here i feel they are still trying to sell their bitcoin as soon as it reached at least 20% of the total loss, a lot of people talk about this.
They are frustrating and the dump to make the $10,000 broken seems could happened in the near future.
I will just enjoy the game and try to be as cool as possible , heading to $40,000 or down to $5,000 , i am not affraid.

Agreed. As I've said in my other thread, $10k is the definite support right now, and it wouldn't change unless bitcoin stays under $10k for at least a full 24 hours. And it definitely hasn't happened yet, since when bitcoin went near $10k it rebounded back up to $11k every time.

In the event of bitcoin crashing to around $9000, I would definitely buy in, since an adjustment is very likely after the FUD. There is a bunch of whales waiting to buy up cheap coins under $10k as well, which is why as you said as well, every time $10k is near, price has gone up.

Right now I'm just patiently holding my coins. We could see $12k being broken soon, and after that the market will turn pretty bullish.

12K is very small. I am sure that the price will rise much more. For those who keep their coins, the situation will not change even when the price is 15K. People will continue to hold the coins to make a profit in the future. Traders buy and sell coins at any price. So I think that the token prices of bitcoin makes no sense.

For me not much has even changed when the price nearly touched the $20,000 level last year. I just trade the volatility as I have always been doing, and keep the coins I hold for the long term sleeping in their wallets for plenty of more years. We have experienced these sort of situations for so many times now, that it's a bit weird how people keep panicking over absolutely nonsense. It's like people never seem to understand the basics of this market, and that while they have had enough time to do so.

Definitely so. That's why we shouldn't take certain peaks and dumps too serious. To start with, the near $20,000 peak of last year was a massive exaggeration of how the market gets bought up by blind panic rage buyers due to the future markets. At that point we were beyond the actual all time high already, but the market still got pushed further, till the point where $20,000 was forming the mental barrier. If that $20,000 barrier wasn't there, we would probably have seen the market increase even further. That barrier was the STOP sign the market needed to calm the f... down.

I find difficult to understand why prices continue to stay around 11k. if we read it in a bullish way, then traders are trying to create a new support in the 11K area; if we read it in bearish terms, then whales are trying to get out of the market without creating big traumas at the price.  Probably in a market not too influenced by exchangers, a good graphic candlevolume would tell us clearly how things are. :)

Support is gone. :-X

Buy only over 9k

Well I guess we are under 9k USD now, but I do believe this Bitcoin crash will end soon.  The hype from the lightning network will be starting soon, this can probably nullify all the FUDS and bad press.  I also believe whales are riding this bad news in order to buy more bitcoin in cheaper price.  Once their accumulation is done, we will see Bitcoin price soaring high again.  Let just hodle and wait.

Now the bitcoin price is $8,000. Prices will probably fall further if they do not rise immediately above $9,000. Because the experience in 2014 the whale probaly will make the price drop more and more.