Bitcoin Finds Support At 8k

[Elysian_ELY]

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

[1715025834]

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[coinwizard_]

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!

[Washball]

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.

[yj300316]

when bitcoin will start to rise to 25k?

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.

[Slow death]

Everyone should be expecting a minor step below 8k anyways.

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.

The next barrier to breach is at 10k, once it goes past that figure there is no going back. Better get some 8k bitcoins!

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

when bitcoin will start to rise to 25k?

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.

hahahaha



just kidding

[talkbitcoin]

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.

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.

[Reatim]

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

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.

[okala]

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.

[1Referee]

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.

$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.

[Fuhre]

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.

[tomahawk9]

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.

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.

[dothebeats]

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.

$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.

[Technos]

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

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.

[batang_bitcoin]

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.

Few more hundreds to go, bitcoin at $8,231 now.

play along with the natural growth cycle.

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.

[teramit]

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 

[BrewMaster]

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!

There are respectful technical analysts who predict lower bottons, at around $4000, before Bitcoin goes up again to these values that people are expecting.

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

[hugeblack]

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].

[myhoho]

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.

[magneto]

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

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.

[BitcoinNewbie15]

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.

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.