Crypto Market begins to spike to 7,400$ possible breakout until 10,000$

[Traderbtcc]

It's still unclear whether or not that's a bull flag. If I remember correctly Bitcoin did shoot >$7200 sometime in May/June in like 30 minutes and we all thought We're in the bull run. Well everyone know how that down out. First, a drop below $7000 followed by another dip to $6500 and afterwards $6250. I would like a more organic increase in price with better volumes and stronger support.

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[darkangel11]

It id bullish rise but not will start a bull run like the one in 2017, it can easily go back to $6000 after going up to $10.000 or $12.000 .

if the trend is reversed and the rising starts (not just a jump to $12k in one day but a solid rise that takes longer) then the lows also increase meaning after rising back up to $8k if a drop happens it won't be down to previous low ($5700) it will instead be higher. then when $9k breaks the low will grow higher again and again...

in other words after reaching $12k since it is after the major resistance at $10k it will become nearly impossible to go back down to $6k

That's how it works, higher lows forma  bullish pattern. There are many bullish pattern to look for starting from high breakout volumes, and ending with the long term trendline being broken. For now we have managed to break that sharp downward trendline that we were following since May 6 and come close to the long term bearish trendline that's right below 8k at the moment. If we break this one it's the moon again, or at least 10k.

[Shushale65]

Perhaps this sharp price increase is really the beginning of a larger bull trend, since this impulse is very different from all previous ones. But we can not make hasty conclusions, now we need to see how the market will react to this event and look for good entry points.

[beverly788113]

Perhaps this sharp price increase is really the beginning of a larger bull trend, since this impulse is very different from all previous ones. But we can not make hasty conclusions, now we need to see how the market will react to this event and look for good entry points.

I believe that the price of bitcoin can completely increase to the $ 10000 mark in the coming time, you can see that the market is showing signs of a positive recovery when bitcoin and altcoin prices are also constantly rising. Now you can see that the bitcoin price has adjusted to $ 7300 and according to fibo, the bitcoin price may fall to $ 7100. I believe that this is the necessary adjustment to increase the bitcoin price in the coming time.

[bitterguy28]

The crypto market surged billions of $ in just 30minutes timeframe. This is amazing, Check out the article below for reason. I've seen this kind of pump last year although I'm not into cryptocurrency yet during that time read a lots of price hike. As a newbie I can't say if this is the beginning of Bull market.

https://www.ccn.com/crypto-market-adds-20-billion-in-30-minutes-as-bitcoin-spikes-above-7400/

Definitely that is sure i think the correction is over and the price start flying into the moon but stay calm and relax do not expect closely because we should the move of bitcoin as volatile are hard to predict so stay and wait the boom.

[dunfida]

The crypto market surged billions of $ in just 30minutes timeframe. This is amazing, Check out the article below for reason. I've seen this kind of pump last year although I'm not into cryptocurrency yet during that time read a lots of price hike. As a newbie I can't say if this is the beginning of Bull market.

https://www.ccn.com/crypto-market-adds-20-billion-in-30-minutes-as-bitcoin-spikes-above-7400/

Not really a rare thing but as a newbie or just new into this market if you do see those funds coming in on a short matter of time then you would really be amaze but if you have been here for years then this situation wont really surprise you anymore because on cryptocurrency market this is just a usual stuff where big funds coming in and later on it would decrease a lot too. These simple price increase can be seen but not entirely a sure thing to indicate that this is already the start of the bull run.

[Oceat]

The crypto market surged billions of $ in just 30minutes timeframe. This is amazing, Check out the article below for reason. I've seen this kind of pump last year although I'm not into cryptocurrency yet during that time read a lots of price hike. As a newbie I can't say if this is the beginning of Bull market.

https://www.ccn.com/crypto-market-adds-20-billion-in-30-minutes-as-bitcoin-spikes-above-7400/

Not so fast really, i found this spike as a trap for a possibilities that more traders will try to buy and then suddenly would drop big in no time. I'd rather enjoy this possibilities as long as i can but my guess is this is not the right time yet to launch to $10,000 or even breaking that resistance.

It is more likely to happen in a couple of months or more before it could break the resistance.

[dothebeats]

It's still unclear whether or not that's a bull flag. If I remember correctly Bitcoin did shoot >$7200 sometime in May/June in like 30 minutes and we all thought We're in the bull run. Well everyone know how that down out. First, a drop below $7000 followed by another dip to $6500 and afterwards $6250. I would like a more organic increase in price with better volumes and stronger support.

It has happened twice before this recent crash to $5700-$5800 so it might be that the same thing would happen come the decision about the ETF. After seeing the price climb back to $7k at ease, I immediately thought about what happened back in May. The price even crossed $9k for some time only to crash down hard @ $5700-$5800. This recent rise increased the confidence of people/investors toward bitcoin, but that's not enough to make another push just like what happened in 2017. I just hope that this rise won't lose steam or don't slid back below $7k and just hold wherever it is right now to have a better baseline if we are to take yet another run towards higher highs.