Next: $7,500 support

[junoreactor]

Sharing a video (sorry it is not in English but the graph is easy to read) > www.youtube.com/watch?v=YfEQTIQ9usY
Triangle showing that the price is heading to $7,500, where this a strong support. Next question: reaction of the market when touching this price. 

Opinion (not an advice): tempting to wait for the price to get close to this support and buy.

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[davis196]

Sharing a video (sorry it is not in English but the graph is easy to read) > www.youtube.com/watch?v=YfEQTIQ9usY
Triangle showing that the price is heading to $7,500, where this a strong support. Next question: reaction of the market when touching this price. 

Opinion (not an advice): tempting to wait for the price to get close to this support and buy.

I`m pretty sure that there were people explaining that 10K USD was the "strong support level" for bitcoin and there`s no way the price could go under 10K USD.It looks like now we have a new support price.
Anyway,what`s wrong with all the crypto whales?Why are they selling?I don`t see any major factors that force a price crash.Can anyone explain,please?

[junoreactor]

Sharing a video (sorry it is not in English but the graph is easy to read) > www.youtube.com/watch?v=YfEQTIQ9usY
Triangle showing that the price is heading to $7,500, where this a strong support. Next question: reaction of the market when touching this price. 

Opinion (not an advice): tempting to wait for the price to get close to this support and buy.

I`m pretty sure that there were people explaining that 10K USD was the "strong support level" for bitcoin and there`s no way the price could go under 10K USD.It looks like now we have a new support price.
Anyway,what`s wrong with all the crypto whales?Why are they selling?I don`t see any major factors that force a price crash.Can anyone explain,please?

Cannot disagree, there was a support at $10,000 (strong or not strong, I don't know), price went from 10,xxx to 12,xxx and back for a little while.
How will it go after we get to $7,500? Nobody can tell for sure but it will be interesting to observe the behavior of the market when we get there. Don't think it is a good idea to buy now before we get there. Personal opinion of course.

[paniczklos]

Supports are getting weaker every time they are touched , hence the 7.5 or 6 can be broken. It all depends on supply and demand. There's a big zone ~6-8k , I'm looking for my buys there.

[batang_bitcoin]

Supports are getting weaker every time they are touched

It is getting weaker and for those long term hodlers it is very tempting on what step they are going to do. But as a long term hodler, I'll stay to whatever support we will see. I'll keep on holding and will add some more as this will be another time to buy some more.

Opinion (not an advice): tempting to wait for the price to get close to this support and buy.

Grab the chance, this is rare. 

[LFC_Bitcoin]

Support is weak AF, it’s slicing downwards through every supposed supprt level. This is bad.

[jadenunderhill]

Now it is 7 500, next it can be 6 000, then 4 500.  One can name any number between 2K and 8K and it can be "support level". I think there is no such thing .

[YinShuiSiYuan]

Sharing a video (sorry it is not in English but the graph is easy to read) > www.youtube.com/watch?v=YfEQTIQ9usY
Triangle showing that the price is heading to $7,500, where this a strong support. Next question: reaction of the market when touching this price. 

How many support levels have been so far. First, 14k, then 11k, then 10k, 8k $. Now 7.5k $. Next will be 6k $ ?. Everyone can take a chart to draw a few lines and predict what will happen. At all hard to predict what will happen if the price reaches that level.

[adam1230]

I just checked futures order ratio and i will say that long positions are going up like crazy so no need to afraid of hittin 1000 usd for now.
also 7500 # support is looking nice to me too.

[Wei H]

My friend told me few days ago:"Bitcoin would go down to ~7K, and should find support later and then go into real bull run starting at 2018Q3 "

[JMD07]

They call it a support to ease the pressure of the holders not to panic. If we going to analyze the graph, a big numbers in the selling side that makes the price go down. If those people will continue to sell then the $7.5k support will break until they are contented with the price. A good chance to buy.

[gabmen]

Sharing a video (sorry it is not in English but the graph is easy to read) > www.youtube.com/watch?v=YfEQTIQ9usY
Triangle showing that the price is heading to $7,500, where this a strong support. Next question: reaction of the market when touching this price. 

Opinion (not an advice): tempting to wait for the price to get close to this support and buy.

I`m pretty sure that there were people explaining that 10K USD was the "strong support level" for bitcoin and there`s no way the price could go under 10K USD.It looks like now we have a new support price.
Anyway,what`s wrong with all the crypto whales?Why are they selling?I don`t see any major factors that force a price crash.Can anyone explain,please?

Cannot disagree, there was a support at $10,000 (strong or not strong, I don't know), price went from 10,xxx to 12,xxx and back for a little while.
How will it go after we get to $7,500? Nobody can tell for sure but it will be interesting to observe the behavior of the market when we get there. Don't think it is a good idea to buy now before we get there. Personal opinion of course.

Well i'm one of those people that thought 10k was really a strong support. It probably was though, but it was broken. I'm not keeping my hopes very high but i also don't want to worry myself too much with the current situation. Btc will surprise us. Hopefully a good surprise lol

[junoreactor]

Sharing a video (sorry it is not in English but the graph is easy to read) > www.youtube.com/watch?v=YfEQTIQ9usY
Triangle showing that the price is heading to $7,500, where this a strong support. Next question: reaction of the market when touching this price.  

Opinion (not an advice): tempting to wait for the price to get close to this support and buy.

I`m pretty sure that there were people explaining that 10K USD was the "strong support level" for bitcoin and there`s no way the price could go under 10K USD.It looks like now we have a new support price.
Anyway,what`s wrong with all the crypto whales?Why are they selling?I don`t see any major factors that force a price crash.Can anyone explain,please?

Cannot disagree, there was a support at $10,000 (strong or not strong, I don't know), price went from 10,xxx to 12,xxx and back for a little while.
How will it go after we get to $7,500? Nobody can tell for sure but it will be interesting to observe the behavior of the market when we get there. Don't think it is a good idea to buy now before we get there. Personal opinion of course.

Well i'm one of those people that thought 10k was really a strong support. It probably was though, but it was broken. I'm not keeping my hopes very high but i also don't want to worry myself too much with the current situation. Btc will surprise us. Hopefully a good surprise lol

I understand mate, I had the same logic at 10k, well, for now (very short term ), it seems that there is indeed a support at $7,500, price going from $7,700 to $8,400 in two hours time. No high hope for now but interesting to watch.

[1Referee]

$10,000 is the ultimate bottom.

..... price tanks below that level.

$9500 seem to be a level with major market support.

..... price tanks below that level.

$9000 is the real bottom, analysis shows.

..... price tanks below that level.

$8000 is going to be it for real, because this or that line has not been broken before.

..... price tanks below that level.

$7500 is the next support level.

..... people, just give it up already, there is no support and analysis proves to be worthless time on time again. The market stops when it wants to stop.

[Ceballos]

Here is the recent corrections of bitcoin price. Lets hope that we are just in a correction period not crash. 7500 support is holding tight this is a good sign to hold.

[fabiorem]

Anyway,what`s wrong with all the crypto whales?Why are they selling?I don`t see any major factors that force a price crash.Can anyone explain,please?

Its the cult of Karhu. They are appeasing the bear god with the sacrifice of the burning hands.

Trust HODL, the cyclopic one. HODL will show you the way to the golden bulls. Just HODL it.

Or you can short in a offering to Karhu. Your choice.

[trickyriky]

Sharing a video (sorry it is not in English but the graph is easy to read) > www.youtube.com/watch?v=YfEQTIQ9usY
Triangle showing that the price is heading to $7,500, where this a strong support. Next question: reaction of the market when touching this price. 

Opinion (not an advice): tempting to wait for the price to get close to this support and buy.

Nobody can exclude the situation when BTC will fall even more and cost under 7K. Now the market is unpredictable.

[cellard]

$10,000 is the ultimate bottom.

..... price tanks below that level.

$9500 seem to be a level with major market support.

..... price tanks below that level.

$9000 is the real bottom, analysis shows.

..... price tanks below that level.

$8000 is going to be it for real, because this or that line has not been broken before.

..... price tanks below that level.

$7500 is the next support level.

..... people, just give it up already, there is no support and analysis proves to be worthless time on time again. The market stops when it wants to stop.

Where I more or less agree with your analysis... for what is worth, Tone Vays has been calling a $7500 bottom for a while, and looks like it bounced back from almost $7500 ($7653, Bitstamp prices). As we know, predictions aren't exact, but I would say that was pretty spot on, of course, assuming it stops there. The $7500 prediction follows a very long trend line:



If we lose this... get ready for further crashing. But look at the positive side: at this point it's getting irrational on the bear side, there are no real reason to be panic selling past $7500, which means it's time to get some cheap coins.

[alyssa85]

Sharing a video (sorry it is not in English but the graph is easy to read) > www.youtube.com/watch?v=YfEQTIQ9usY
Triangle showing that the price is heading to $7,500, where this a strong support. Next question: reaction of the market when touching this price. 

Opinion (not an advice): tempting to wait for the price to get close to this support and buy.

Why not just put in a series of low buy orders in advance?

The best part of flash crashes is that some very low orders get triggered, and you can then sell them pretty quickly once it bounces up.

[nl247]

Sharing a video (sorry it is not in English but the graph is easy to read) > www.youtube.com/watch?v=YfEQTIQ9usY
Triangle showing that the price is heading to $7,500, where this a strong support. Next question: reaction of the market when touching this price. 

Opinion (not an advice): tempting to wait for the price to get close to this support and buy.

I`m pretty sure that there were people explaining that 10K USD was the "strong support level" for bitcoin and there`s no way the price could go under 10K USD.It looks like now we have a new support price.
Anyway,what`s wrong with all the crypto whales?Why are they selling?I don`t see any major factors that force a price crash.Can anyone explain,please?

No one can predict the future bro and it was based on what anyone could have assumed, it is just unfortunate that the market can do whatever it likes. No one could have thought we will brew past that to go test the 200MA but here we are, tested a little bit pass it and then we ended up having a bounce from there right now. Possibility that it would be tested again, and we just hope it rebounces back, otherwise, it would be a huge downpour of sell orders from holders.