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Author Topic: Bitcoin Finds Support At 8k  (Read 135 times)
timerland
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April 19, 2018, 10:21:52 PM
 #21

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 wouldn't say that it's the best time to load up right now, because there is still a prospect of a correction swooping in all of a sudden. It's not rare to see this kind of rally in a bear market, although they are usually short lived.

However, the signs for another pump is here.

$8k support, as you mentioned, is established pretty thoroughly. We can see that since price rebounded within a day of it dropping below the $8k mark and is now making its way back up to $8.2k. The major hurdle here is $8500, and if that is hit, it is a signal that BTC will most likely go over $9k in the short term.

But as I've stated before; I don't think that $6k is going to be the true bottom of the bear market and there is going to be a big probability we are going down further in this overall bearish trend, even though we are rallying hard right now.

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April 20, 2018, 04:22:23 AM
 #22

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

Many of us have observed that it was really stick to this value and did not fall again in which Hopefully that the pump that we are waiting for will start to this new average baseline so that we could start to acknowledge that the market will going to become healthy once again as this will slowly to attract more investors in the coming days.I just hope that the future banning of Crypto currencies advertisements will not affect this developments as it will delayed the pumping process once more.

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April 20, 2018, 04:42:17 AM
 #23

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

Many of us have observed that it was really stick to this value and did not fall again in which Hopefully that the pump that we are waiting for will start to this new average baseline so that we could start to acknowledge that the market will going to become healthy once again as this will slowly to attract more investors in the coming days.I just hope that the future banning of Crypto currencies advertisements will not affect this developments as it will delayed the pumping process once more.

I do also see and notice that bitcoins prices are now slowly getting stable at 8k average price. This is literally a good sign for us hodlers that there maybe a huge pumped coming ahead, however we didnt actually know what time or date it can happen.

Quote
just hope that the future banning of Crypto currencies advertisements will not affect this developments as it will delayed the pumping process once more.

Banning of crypto ads are now already happening ever since last month and that banning do actually have a major drawback on the prices of cryptocurrencies because many potential investors will not probably see those ads that have posted on online sites or social medias such as facebook and youtube.
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April 20, 2018, 05:14:16 AM
 #24

Bitcoin has the actual support at $7900 and the upper support level at $8600. Bitcoin has been hovering around $8000-$8300 for a while now. The next 5-6 days are crucial and will determine the actual price trend whether BTC breaks lower or upper support. I still believe bull hasn't entered the market and hence we will see another dump.

I just hope that the future banning of Crypto currencies advertisements will not affect this developments as it will delayed the pumping process once more.

Bitcoin remain stable at $6k levels when the news of advertising ban surfaced. Also, under the excessive selling pressure and some negative news from India, Japan and South Korea, bitcoin didn't break the strongest support of $6k. Hence, these news now don't have any bigger effect on price action. Market absorbs such news without actually panicking. I don't think we ll see any major effect of this advertising ban in future

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April 20, 2018, 07:21:05 AM
 #25

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!
The fact that we have tested that region twice after that break out is a good start, but no need to be over happy for now, and sure it is good to see that happening, but we still have some pretty huge ones ahead of us.

The question now is are we going to be consolidating for a while, are we going to fail and fall back lower or are we going to be heading up from here probably after consolidating ? These are the questions we are expecting some answers to in the next few days, weeks or even months as the case may be.

Support is actually precisely at 7800. We have had a huge bounce from that spot and I was actually surprised. It seems the market really want to go break some huge resistance walls but the bears still do not want to take that chance yet, with that support at that spot, we can as well just believe that the market may have to move sideways for the main time before we start seeing the possibility of any uptrend. I guess it is time to even start accumulating the more.


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April 20, 2018, 12:05:54 PM
 #26

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

Many of us have observed that it was really stick to this value and did not fall again in which Hopefully that the pump that we are waiting for will start to this new average baseline so that we could start to acknowledge that the market will going to become healthy once again as this will slowly to attract more investors in the coming days.I just hope that the future banning of Crypto currencies advertisements will not affect this developments as it will delayed the pumping process once more.

Well those ad bans may have exhausted their effect already and people have moved on and confidence is slowly returning. Though i'm not expecting any drastic pumps anytime soon, there probably will not be amy significant corrections. This is a chance for alt holders to check their portfolios again

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