Bitcoin Is Consolidating After Strong Correction

[BokkaExchange]

​Cryptomarkets continue to look for a new support level and try to form a new bullish trend.

Read Bokka Crypto Technical Analysis BTC/USD 15.05.18: https://bokka.com/cryptocurrency-news/bitcoin-is-consolidating-after-strong-correction/

[Hamphser]

​Cryptomarkets continue to look for a new support level and try to form a new bullish trend.

Read Bokka Crypto Technical Analysis BTC/USD 15.05.18: https://bokka.com/cryptocurrency-news/bitcoin-is-consolidating-after-strong-correction/

Basing on technical analysis its floor or nearest support have been break out which we do able to hit up 8400+ into its price as far as i remember. For now we are no on consolidation period and possible preparing up for take of. Bullish events do happen already ex. Consensus which we have seen on its possible effects into the previous years and might fueled up the trend once again and run with the bulls. Basing TA's we are forming that triangle which signifies bullish movement. Buying into this price point is the best one,base on my view.

[minairia3]

​Cryptomarkets continue to look for a new support level and try to form a new bullish trend.

Read Bokka Crypto Technical Analysis BTC/USD 15.05.18: https://bokka.com/cryptocurrency-news/bitcoin-is-consolidating-after-strong-correction/

I just hope it really does as we have seen this before but failed. I was very frustrated when it didn't reach the psychological 10k  well who knows what can happen now.

[ss890]

​Cryptomarkets continue to look for a new support level and try to form a new bullish trend.

Read Bokka Crypto Technical Analysis BTC/USD 15.05.18: https://bokka.com/cryptocurrency-news/bitcoin-is-consolidating-after-strong-correction/

Okay now that’s making the today’s picture more clearer as we speak over here. That’s why the current drop and all the the market hype is going on. But we better find the support level soon as we have been moving back and forth since very long time. Two weeks ago we literally touched 10K usd but that turns out to be odd as we are back to where we were earlier. If that’s not the support level or resistance breaking point then what is it I would ask?

[omfg.xekcep]

Nice to hear a smart man! I also consider that BTC and ETH are consolidating and accumulating for a new bullish trend. Look at the crude oil graph (brent or wti) for example, it also consolidated several months after dropping and then doubled from around 40 to 80 as well as BTC and ETH could not grow at once after dropping.

[Soulhitz]

we'd better wait about 1 month to see the impact of this consolidation, because every year 20 days to 1 month bitcoin increased significantly, 

[justin86]

I think bitcoin is performing well now as long as it is above $6000 but consolidation between $6000 and $10.000 might not take so much time if the market keeps growing like this.

[Baraban66]

​Cryptomarkets continue to look for a new support level and try to form a new bullish trend.

Read Bokka Crypto Technical Analysis BTC/USD 15.05.18: https://bokka.com/cryptocurrency-news/bitcoin-is-consolidating-after-strong-correction/

In my opinion, after this consolidation, soon we will see huge ask positions on btc and others altcoins

[coinwizard_]

The $9000 support barrier was broken down by the bears but now it should be back again so it can finally get past that $10,000 resistance level. Once that barrier is breached we can look up to reaching the all time high again.