Will bitcoin remain above $4000 this time around?

[pixie85]

I'm a believer in Bitcoin but I don't underestimate the power of manipulation. This power is extremely strong on all crypto markets and the dump groups won't give up and let it grow when they know that supporters are still weak.

We aren't in the bull market yet and they will try to retest the lows at least one more time. For them to stop they will have to get rekt. This means that they will have to dump and get bought instantly like that time on march 14.

[Gaff]

As at this moment bitcoin is trading around $4,052 across most of the popular exchange and my question is will bitcoin get below $4000 again or it is on the part to break the resistance level that has been pushing it backward?

At this stage we cannot predict whether the resistance above $4200 will be broken with this run and if it does then we will see a further push to five thousand dollars before it hit another resistance level probably around $6500, if the market holds up like this by the end of this month then we will see another price rally, it depends upon how the market moves by the end of this month.

This is the most challenging part of crypto these days, which I think big whales now do their part of manipulation before hitting above $4k or higher. It's true if market moves smoothly and will pump amazingly, we will see another profitable value but if not bearish market will continue to pull down price towards down trend behavior. Everything here now was so unpredictable, so better stay tuned and don't give up until the dreams of $20k is reached.

[LUCKMCFLY]

Right now it is not because it is negative, but it is more likely that it will go below 4k, but there is a slight possibility that it will stay in 4k and take a small lateralization, if this lateralization occurs it is beneficial, since it would be creating an area of liquidity.

The movement towards 4k produced little volume, it is good, because there was almost no offer, and it has been falling a bit, but the price of bitcoin has decreased with a larger volume than it increased, this means that there is no offer in levels of lower price, then we could say that one of Wyckoff's Principles of Effort-Outcome Law is taking place.

We can consider another scenario, which is a bullish trap, so that many enter Long and then abruptly lower the price of bitcoin, to hunt the Stop Loss of the operators, and thus buy cheaper. The best thing to do at this moment is wait, in my case I do not see a clear entry to take a position in the market, the most healthy thing would be to wait for some important movement, and then there to react.

[talkbitcoin]

The movement towards 4k produced little volume, it is good, because there was almost no offer, and it has been falling a bit,

you can't expect the volume to increase beyond what it currently is and was in the past week when price rise is still small. in other words when for the past week price has been rising slowly from $3700 to $4000 the volume stays the same as the rate of this rise. if it changes and price goes up faster then you can expect a bigger volume.

[sheenshane]

The movement towards 4k produced little volume, it is good, because there was almost no offer, and it has been falling a bit,

you can't expect the volume to increase beyond what it currently is and was in the past week when price rise is still small. in other words when for the past week price has been rising slowly from $3700 to $4000 the volume stays the same as the rate of this rise. if it changes and price goes up faster then you can expect a bigger volume.

Well, that's right. In my own speculation, Bitcoin will keep going down below four thousand dollars and I am not sure when it would rise up again. If I were you, I wouldn't expect Bitcoin to rise and will just wait what will happen to the next days. You have to acquire the mindset of holding and keep and not expecting good things but bad things. Enough of being very enthusiastic and hopeful because it will make you a bad trader/investor.

Just bet it, win or lose.

[Oasisman]

The market condition is telling us that its really hard to push through $4k and now we're here, I might say theres a huge chance that it'll fall back again a hundred or two dollars if not today maybe tomorrow or the other day. Im not being negative, rather Im just being realistic basing on my observation with the market and price movement. In fact, right now, Bitcoin's price slightly declined -1.75% from the last few hours. Yet, nobody could ever predict the price precisely, so I might be wrong with my statement.

[talkbitcoin]

The movement towards 4k produced little volume, it is good, because there was almost no offer, and it has been falling a bit,

you can't expect the volume to increase beyond what it currently is and was in the past week when price rise is still small. in other words when for the past week price has been rising slowly from $3700 to $4000 the volume stays the same as the rate of this rise. if it changes and price goes up faster then you can expect a bigger volume.

Well, that's right. In my own speculation, Bitcoin will keep going down below four thousand dollars and I am not sure when it would rise up again. If I were you, I wouldn't expect Bitcoin to rise and will just wait what will happen to the next days. You have to acquire the mindset of holding and keep and not expecting good things but bad things. Enough of being very enthusiastic and hopeful because it will make you a bad trader/investor.

Just bet it, win or lose.

sorry but your comment doesn't make any sense to me!
you don't explain why you think bitcoin will "keep going down".
and also what you say about the "mindset" doesn't make much sense either. you either speculate a rise in long term or you don't. if you do them you should be accumulating right now that price is stable and at least close to the bottom not just wait around!

[joshy23]

The market condition is telling us that its really hard to push through $4k and now we're here, I might say theres a huge chance that it'll fall back again a hundred or two dollars if not today maybe tomorrow or the other day. Im not being negative, rather Im just being realistic basing on my observation with the market and price movement. In fact, right now, Bitcoin's price slightly declined -1.75% from the last few hours. Yet, nobody could ever predict the price precisely, so I might be wrong with my statement.

Everything might be concluded by self understanding, we can't assure how bitcoin will behave within an hour or day but knowing where to position for your benefits can let us survive from this never ending sways, believing with your own assessment and make sure to stand on your own grounds, things will still be possible trend will bring the value we always wanted to see.

[adaseb]

Basically since we broke $6K last November, pretty much every pump has been shorted down almost immediately.

However we actually had a failed low and have been slowly creeping up. One indicator that I look at is the open interest on Bitmex.

We are around the $500 million mark which is pretty constant which means that traders haven't taken profit yet.
Last time when we hit $4200 last time around the open interest basically shrunk by $100 million. This time it shrunk by $10 million or so which is very small.

So I am thinking we will at least test $4200 and who knows what will happen in that area. If we break it then it's a crazy FOMO short covering rally to $5000-$6000.

[Pursuer]

Basically since we broke $6K last November, pretty much every pump has been shorted down almost immediately.

technically we have only had 2 attempts to rise so far ever since price dropped below $6k since you can not count small rises like from $3200 to $3300 as an attempt to rise!!!
("pump" is not the correct term to use here since rise is not the same as pump).

We are around the $500 million mark which is pretty constant which means that traders haven't taken profit yet.

traders have taken their profit out before we even fell below $6k!
the day traders are also taking profit daily so they are constantly doing it.

[alisafidel58]

Depending on how will the traders move weather its a pump and dump fast or a slow and steady pump. I was really hoping that it would be a slow and steady pump till it reach around $4,500, this way it safe to trade unlike going to a big pump the after a few hours theres a huge dump.

[radjie]

there is still a possibility that market price movements will fall below $ 4000, but because many people expect a sharp rise in prices this year, after a slight decline not long after that market prices rise again. I think the enthusiasm of the crypto holder is fairly fair now, some expect market price movements to rise sharply and some take the opportunity to buy at low prices so that market price movements when rising do not increase sharply and when moving down cannot decrease in value at the lowest price point

[Ayiranorea]

This time the price has reached close to $4075, and later the price started to fall rapidly reaching close to $4000. Later once again it started to increase and now staying around $4032. As the price seems to be fluctuating there is possibilities to go low to $4000. Hope the fluctuations happen above $4000 supporting to cross further barriers.

[beerlover]

It feels like its going to be a common thing for us though. I can't bet that we will stay above 4000 but I feel like that 4000 going to be more common than we all know. Normally lets face it we have spent most of our price at around 3500 range (less than 4000 I mean) for the past 4 months or so, now that we are here it looks like we will not be going down that much again and come back above 4000 a lot quicker this time.

I mean we have hit above 4000 around 5 or 6 times in the past 4 months or so, each time we dropped back to sub 3500 levels and we tried to recover heavily. This time it looks like we will not need that, and since we do not need to come back from so much down maybe this time when it goes up it can go up above 4200 levels for the first time creating a bullish trend? Who knows, lets hope so.

[Jating]

We can't really tell at this point. Actually I was surprised to see the price goes to $4k without any significant news. It also shows that something from behind might be doing an old dogs trick, trying to manipulate again and set traps for newbies to jump in and they will suddenly dump again.

So just be cautious this rally doesn't look natural to me, just saying.

This could be true, like the previous one but for me, I feel this one seems better. I'm rooting to have a new floor price this time at $4k. If this one lasted longer or even in a week, then this might be a new floor price. Not so far from previous resistance but atleast we finally cross $4k.

And it is still holding today, with no significant movement whatsoever, so I will still be cautious though. Of course it's better to have a floor price of $4k rather than below. But personally, I don't know, I don't like this feeling.

I don't want to be negative but I have hunch that we might go back to sub $4k again in the coming days, just my opinion though. Looks like the rise to $4k is not organic, at least from what I see.

[vickycoin05]

This time the price has reached close to $4075, and later the price started to fall rapidly reaching close to $4000. Later once again it started to increase and now staying around $4032. As the price seems to be fluctuating there is possibilities to go low to $4000. Hope the fluctuations happen above $4000 supporting to cross further barriers.

Yes we seen a good price coming over right now, but unfortunately it wasn't having good pumps, due to panic sellers who happened to sell while price spikes tend to swing. Fluctuating price remained unpredictable and strong holders cannot determine when will be the exact time they could move along. Eventually this situation will fall back again to great recovery when market return to it's rising trend soon as price will be more than $4k.

[BitHodler]

So I am thinking we will at least test $4200 and who knows what will happen in that area. If we break it then it's a crazy FOMO short covering rally to $5000-$6000.

In case we do get that pump, I do believe that we'll stagnate below $5000 due to how bots will respect the moving averages and take profits before even reaching there, simply because it's unlikely that they break directly.

What people seem to forget is that short term traders and investors have had months to buy their coins below the $4000 mark. What do you think will happen when they see the price go up from where we are right now?

We have to start going up from scratch again, and that's far from an easy job with how there isn't much that signals the end of this lengthy bear market. It's much better to continue being conservative while the trend is still down.

[Ararbermas]

Since December last year that bitcoin fall below $4000 it has make several move of crossing above $4000 and it always get dumped after few days. I think a strong resistance has been created a little above $4000  and that is why we have not see a good recovery after this bear market.  As at this moment bitcoin is trading around $4,052 across most of the popular exchange and my question is will bitcoin get below $4000 again or it is on the part to break the resistance level that has been pushing it backward?

the current resistance of bitcoin is 3k above mate since market experience massive declined last year and this current price of market is a small progress only after the several attempts of bull . For me until year end probably there's a chance again it will gradually decreasing again but for sure on month of may it will show again another progress which is a good chance to gain profits.

[pooya87]

So I am thinking we will at least test $4200 and who knows what will happen in that area. If we break it then it's a crazy FOMO short covering rally to $5000-$6000.

In case we do get that pump, I do believe that we'll stagnate below $5000 due to how bots will respect the moving averages and take profits before even reaching there, simply because it's unlikely that they break directly.

What people seem to forget is that short term traders and investors have had months to buy their coins below the $4000 mark. What do you think will happen when they see the price go up from where we are right now?

We have to start going up from scratch again, and that's far from an easy job with how there isn't much that signals the end of this lengthy bear market. It's much better to continue being conservative while the trend is still down.

that is true if we don't see an actual FOMO in which case you are correct. the day traders will crash that rise and it has to be started all over again with a couple more ups and downs before the $5k is broken. but what @adaseb  was saying is about the existence of a FOMO which can easily push the price up beyond $5k in less than 6 hours and if the push is strong enough no amount of day trader/bots selling can negate that. we have certainly seen this multiple times before.

[STT]

In case we do get that pump, I do believe that we'll stagnate below $5000 due to how bots will respect the moving averages and take profits before even reaching there, simply because it's unlikely that they break directly.

I'm guessing we run upto 6000 maybe even further so long as we break through 4500.   Its all a maybe till then, short term I would guess we do get 4500 but then another repeat of a sell with more on cue doom and gloom from people thinking a sell from 4500 means we must half in price

As far as moving averages goes we are above the 50 day which makes us roughly positive.   Then the big one to watch is the perfectly simple 200 day at 4883 so that indicator being in the orbit of 4500, so close is kind of a double whammy effect.     That area could easily be a short term ceiling