[2018-07-19] Bitcoin Price Prepares to Test $8K After Bull Breather

[maarx]

https://www.coindesk.com/bitcoin-prepares-to-test-8k-after-bull-breather/

Bitcoin's (BTC) minor price pullback yesterday has likely recharged the bulls for a rally towards $8,000, technical charts indicate.

The leading cryptocurrency has spent a better part of the last 15 hours trading in the $7,240–$7,440 range, having clocked a 40-day high of $7,588 at 18:00 UTC yesterday.

Moreover, BTC was looking overbought at multi-week highs, hence a minor correction was expected.

More importantly, the price pullback and the subsequent consolidation, when viewed against the backdrop of the high volume inverse head-and-shoulders breakout, indicate that BTC has likely gathered steam for a more sustainable rally towards $8,000.

At press time, BTC is changing hands at $7,400 on Bitfinex – up 0.2 percent on a 24-hour basis.

Back on track? Can expect the go cross 9K this month end?

[1714941873]

1714941873

[cryptosfr]

The 8k resistance gonna be  a  good market  indicator ,  i wait  it  in order to see if  this down trend  is over .i also wait  this week volumes,  its  surprising to see  dat  pump during  summer  but  lets wait and see.

[InvoKing]

Back on track? Can expect the go cross 9K this month end?

Having a solid $8k or even having a consolidating price over $7k is much important than having $9k for just few days.
Bitcoin is moving in the right direction now and that's important.

[Slow death]

Bitcoin's (BTC) minor price pullback yesterday has likely recharged the bulls for a rally towards $8,000, technical charts indicate

I do not believe these " technical charts ". But it's possible to reach that in short-term and if we're going to be able to keep us up above $8000? that's the big problem. And then there's that old problem, a lot of people are going to buy bitcoin now, and when the price goes down, we'll see lots of people complaining that they've lost money and even analysts who make optimistic forecasts will be complaining about the price drop. This has already become normal.

its  surprising to see  dat  pump during  summer  but  lets wait and see.

You will only see this pump if the ETF is approved

[J. Cooper]

Back on track? Can expect the go cross 9K this month end?

Having a solid $8k or even having a consolidating price over $7k is much important than having $9k for just a few days.
Bitcoin is moving in the right direction now and that's important.

Couldn't agree more tbh. If we can consistently manage to maintain $7K+ or $8K we can already be very happy.

The 8k resistance gonna be a good market indicator,  i wait  it  in order to see if  this down trend  is over .i also wait  this week volumes,  its  surprising to see  dat  pump during  summer  but  lets wait and see.

It will be even better if we can form a trend reversal before the big volume comes back in Q3/Q4. That way everyone can see we've shrugged off the bearish trend and are ready and set to go upwards.