Does any body know what happened to today's price?

[stanlee2018]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

[thecodebear]

Yes we all know. It broke through the resistance that was holding bitcoin at the bottom of the market. The resistance was around $4200, which served as the top of the bottom of the market since November. The price has been edging up towards that for a while now, and was rubbing right up against it today, and it finally broke. Bottoming is over, likely the next multi-year bull run just started tonight. For reference, look at October 2015, same thing happened to start the last bull run.

[figmentofmyass]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

a key resistance ($4200) was broken. lots of stop losses were sitting right above that breakout area. looks like some big liquidations too. margin calls + stop run = fast price movement. it doesn't necessarily indicate a new bull market or anything, just that temporarily shorts were heavy, supply was low and demand was strong.

i'm really glad to see this breakout though. it's the first weekly higher high since december 2017. i think we're really carving out a bottom range now. give it 6 more months and we might just have ourselves a bull market.

For reference, look at October 2015, same thing happened to start the last bull run.

way less time has passed this time, with a much less significant breakout. we're gonna form the upper end of a range with this rally IMO. i think people are getting a bit too overexcited right now.

[thecodebear]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

a key resistance ($4200) was broken. lots of stop losses were sitting right above that breakout area. looks like some big liquidations too. margin calls + stop run = fast price movement. it doesn't necessarily indicate a new bull market or anything, just that temporarily shorts were heavy, supply was low and demand was strong.

i'm really glad to see this breakout though. it's the first weekly higher high since december 2017. i think we're really carving out a bottom range now. give it 6 more months and we might just have ourselves a bull market.

The bottom range pretty clearly was 3100 - 4200, which lasted some 4.5 months. I would be pretty confident that time is over now. I could be wrong but this looks just like the start of the last bull run: a strong break and spike up out of the bottom after a gradual buildup to the top of the bottom range. Thats exactly what happened last time and exactly what happened over the past month and a half finally culminating in that spike tonight. As long as the price stays in the mid-4000s bitcoin is technically out of the bottom which means we're in a bull market.

[adaseb]

Basically there was way too many bears out there that shorted between $3100-$4100 and made the open interest on the largest exchange rise to over $620,000,000. Most of these shorts were open probably at $3500 and they were paying very high funding rates at 0.10% and eventually the domino effect hit.

$4200 and $4400 were very important resistance areas and there were many stop losses above these levels. Problem was there wasn't too many sellers at these levels and that is why price was spiking up $20 every few seconds, basically loss of liquidity.

You should of seen the $10,000,000 liquidation prices which were failing to find people to sell into it, hence the massive rise to $5144.

Hopefully this doesn't fade and we get a weekly close below $4200

[figmentofmyass]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

a key resistance ($4200) was broken. lots of stop losses were sitting right above that breakout area. looks like some big liquidations too. margin calls + stop run = fast price movement. it doesn't necessarily indicate a new bull market or anything, just that temporarily shorts were heavy, supply was low and demand was strong.

i'm really glad to see this breakout though. it's the first weekly higher high since december 2017. i think we're really carving out a bottom range now. give it 6 more months and we might just have ourselves a bull market.

The bottom range pretty clearly was 3100 - 4200, which lasted some 4.5 months.

what are you talking about? it hasn't even been 4 months since the bottom.

how are you gauging what the "bottom range" is? how do you know you're not just focusing on a few months within a larger range over a longer time period? why do you expect this bear cycle to end so much faster than the 2014-15 cycle?

[omonuyak]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

The resistance level a little above $4000 has been broken and that enables those orders that were placed above the resistance level to be triggered and the pump that we have seeing today.  I hope this bullish trend continue and the next resistance level is now around $5850 . We are going to witnessing alot of drag there before pushing up.

[stanlee2018]

Yes we all know. It broke through the resistance that was holding bitcoin at the bottom of the market. The resistance was around $4200, which served as the top of the bottom of the market since November. The price has been edging up towards that for a while now, and was rubbing right up against it today, and it finally broke. Bottoming is over, likely the next multi-year bull run just started tonight. For reference, look at October 2015, same thing happened to start the last bull run.

Do you have the price chart for 2015?

[thecodebear]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

a key resistance ($4200) was broken. lots of stop losses were sitting right above that breakout area. looks like some big liquidations too. margin calls + stop run = fast price movement. it doesn't necessarily indicate a new bull market or anything, just that temporarily shorts were heavy, supply was low and demand was strong.

i'm really glad to see this breakout though. it's the first weekly higher high since december 2017. i think we're really carving out a bottom range now. give it 6 more months and we might just have ourselves a bull market.

The bottom range pretty clearly was 3100 - 4200, which lasted some 4.5 months.

what are you talking about? it hasn't even been 4 months since the bottom.

how are you gauging what the "bottom range" is? how do you know you're not just focusing on a few months within a larger range over a longer time period? why do you expect this bear cycle to end so much faster than the 2014-15 cycle?

Its been in that range for 4.5 months, with the actual literal bottom (lowest price) coming 3.5 months ago. The bottom in 2015 ended with a large spike after breaking through resistance. That's literally what happened tonight.

I didn't expect this bottom to end so much faster than the 2015 bottom. The bear market lasted only about two months less this time (took 14 months in 2014, took 12 months in 2018), but i fully expected the bottom to last around as long as the 2015 bottom and for us not to see the kind of price movement we just saw tonight until late summer or early fall. But now we saw it, can't unsee it. As long as it doesn't fall back below $4200 we are out of the bottom.


But if you think about it a quicker bottom makes sense. Last bear market there was MtGox which not only robbed a lot of the bitcoin community of their money, but made people afraid to get in and took down the largest exchange in a time when large exchanges weren't prevalent they way they are today. Also it was the first time there was a full 4 year cycle (assuming the 4 year cycle holds into the future) and therefore a ~2 year bear+bottoming market. Now bitcoiners have seen this all before. We all knew to expect a long bear market, and a bottoming out phase lasting a significant amount of time too. We also all knew it will turn around. Whereas the 2014-2015 market was down soooo much longer than at any previous point for bitcoin. Basically this was a lot less scary for bitcoiners so we were just waiting knowing the next bull run is coming, I think 4 years ago a lot of people lost hope cuz it was soooo much longer than any previous bitcoin market.

Also when comparing the two periods, 2018/2019 and 2014/2015, bitcoin is constantly in the news now, its talked about on financial programs quite often, tech CEOs talk about it, governments talk about it, you have major tech companies and banks working on their own cryptocurrencies, you have lots of companies researching blockchain, you have institutions on Wall St gearing up to offer Bitcoin services this year.

Basically if you pay attention to the financial industry or the tech industry at all you hear a lot about bitcoin. It is much more relevant today than 4 years ago simply in terms of being paid attention to. Bitcoin basically dropped off the face of the earth (the little bit of the global consciousness that it had entered in late 2013 and early 2014) during the last bear market. This time thats not remotely true.

So yeah it makes sense if this bottom is over and the bull market just started and was only half as long as the last bottoming out phase, because there's 100x more things happening in bitcoin in terms of interest and attention than there was at this point in the last cycle.

Maybe you define bottom differently. But I would define it as the bottom of the market, in which bitcoin was stuck range bound near the absolute bottom and under high resistance at a specific level, and once that resistance broke it is able to spike up unlike anything seen during the bottom. Defines what we saw with the bottom in 2015 and now.

[thecodebear]

Yes we all know. It broke through the resistance that was holding bitcoin at the bottom of the market. The resistance was around $4200, which served as the top of the bottom of the market since November. The price has been edging up towards that for a while now, and was rubbing right up against it today, and it finally broke. Bottoming is over, likely the next multi-year bull run just started tonight. For reference, look at October 2015, same thing happened to start the last bull run.

Do you have the price chart for 2015?

https://www.tradingview.com/chart/?symbol=BITFINEX%3ABTCUSD

you can scroll back to 2015

[stanlee2018]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

a key resistance ($4200) was broken. lots of stop losses were sitting right above that breakout area. looks like some big liquidations too. margin calls + stop run = fast price movement. it doesn't necessarily indicate a new bull market or anything, just that temporarily shorts were heavy, supply was low and demand was strong.

i'm really glad to see this breakout though. it's the first weekly higher high since december 2017. i think we're really carving out a bottom range now. give it 6 more months and we might just have ourselves a bull market.

The bottom range pretty clearly was 3100 - 4200, which lasted some 4.5 months.

what are you talking about? it hasn't even been 4 months since the bottom.

how are you gauging what the "bottom range" is? how do you know you're not just focusing on a few months within a larger range over a longer time period? why do you expect this bear cycle to end so much faster than the 2014-15 cycle?

Its been in that range for 4.5 months, with the actual literal bottom (lowest price) coming 3.5 months ago. The bottom in 2015 ended with a large spike after breaking through resistance. That's literally what happened tonight.

I didn't expect this bottom to end so much faster than the 2015 bottom. The bear market lasted only about two months less this time (took 14 months in 2014, took 12 months in 2018), but i fully expected the bottom to last around as long as the 2015 bottom and for us not to see the kind of price movement we just saw tonight until late summer or early fall. But now we saw it, can't unsee it. As long as it doesn't fall back below $4200 we are out of the bottom.


But if you think about it a quicker bottom makes sense. Last bear market there was MtGox which not only robbed a lot of the bitcoin community of their money, but made people afraid to get in and took down the largest exchange in a time when large exchanges weren't prevalent they way they are today. Also it was the first time there was a full 4 year cycle (assuming the 4 year cycle holds into the future) and therefore a ~2 year bear+bottoming market. Now bitcoiners have seen this all before. We all knew to expect a long bear market, and a bottoming out phase lasting a significant amount of time too. We also all knew it will turn around. Whereas the 2014-2015 market was down soooo much longer than at any previous point for bitcoin. Basically this was a lot less scary for bitcoiners so we were just waiting knowing the next bull run is coming, I think 4 years ago a lot of people lost hope cuz it was soooo much longer than any previous bitcoin market.

Also when comparing the two periods, 2018/2019 and 2014/2015, bitcoin is constantly in the news now, its talked about on financial programs quite often, tech CEOs talk about it, governments talk about it, you have major tech companies and banks working on their own cryptocurrencies, you have lots of companies researching blockchain, you have institutions on Wall St gearing up to offer Bitcoin services this year.

Basically if you pay attention to the financial industry or the tech industry at all you hear a lot about bitcoin. It is much more relevant today than 4 years ago simply in terms of being paid attention to. Bitcoin basically dropped off the face of the earth (the little bit of the global consciousness that it had entered in late 2013 and early 2014) during the last bear market. This time thats not remotely true.

So yeah it makes sense if this bottom is over and the bull market just started and was only half as long as the last bottoming out phase, because there's 100x more things happening in bitcoin in terms of interest and attention than there was at this point in the last cycle.

Maybe you define bottom differently. But I would define it as the bottom of the market, in which bitcoin was stuck range bound near the absolute bottom and under high resistance at a specific level, and once that resistance broke it is able to spike up unlike anything seen during the bottom. Defines what we saw with the bottom in 2015 and now.

I hope the price will crash tonight. Because I already sold out my Bitcoins...

[Febo]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

Nothing is obvious.

Yesterday I was thinking. We had 6 weeks in a roll with a positive price increase, so we are ready for correction. And then happened this. Nothing is obvious and sure when it comes to Bitcoin!!!!



What is obvious is that bear market was over in December. So now price will go up and down and not mainly down anymore.

[livingfree]

I hope the price will crash tonight. Because I already sold out my Bitcoins...

I don't think it will crash quickly, I've sold earlier too this day and that's what I'm regretting a bit but that's how life goes. Whenever I sell, there's a very fast pump that happens and I thought that was just me. I don't wish that the price will crash tonight, let the market work on it's own.

[Wind_FURY]

The price hit 5,000 today. Obviously, it will fall back to 4,000 these days. But does anybody know what the hale it is?

a key resistance ($4200) was broken. lots of stop losses were sitting right above that breakout area. looks like some big liquidations too. margin calls + stop run = fast price movement. it doesn't necessarily indicate a new bull market or anything, just that temporarily shorts were heavy, supply was low and demand was strong.

i'm really glad to see this breakout though. it's the first weekly higher high since december 2017. i think we're really carving out a bottom range now. give it 6 more months and we might just have ourselves a bull market.

For reference, look at October 2015, same thing happened to start the last bull run.

way less time has passed this time, with a much less significant breakout. we're gonna form the upper end of a range with this rally IMO. i think people are getting a bit too overexcited right now.

Then is the capitulation currently out of the picture?

Because I believe it's already out. The market has adjusted, and learned from the past that selling on panic is a "no no".

[Pab]

Technical analyse
I know people who predicted that run however 25% in 40 min it was surprise
Even some wall street traders have seen that
You can read in article below
https://ethereumworldnews.com/bitcoin-six-weeks-gains-bloomberg-btc-rally-continue/

According to Bloomberg’s Todd White, the GTI VERA Convergence Divergence Indicator, a signal that allows traders to gauge the potential of future rallies and pullbacks, is currently leaning bullish. This is purportedly the first time that this indicator has registered such a measure in months. As the outlet explains, the last time the GTI VERA issued a “buy,” Bitcoin rallied by 17% within a two month time frame, a move that would line up with BTC’s recent movements if repeated.

[Pamadar]

I hope the price will crash tonight. Because I already sold out my Bitcoins...

I don't think it will crash quickly, I've sold earlier too this day and that's what I'm regretting a bit but that's how life goes. Whenever I sell, there's a very fast pump that happens and I thought that was just me. I don't wish that the price will crash tonight, let the market work on it's own.

Let the rise happen accordingly and naturally, I do also puzzled with this current pumped, its more than 10% that we are enjoying compared to those previous where it can't passed 10% increase but I'm with you as well, seeing the rise to continue and gained even more stronger barrier, more investors
will be attracted back if this bull keeps pushing harder.

[Red-Apple]

if you look at the history of bitcoin whenever price is being suppressed like it was so far it remains stable at a fixed range. in this case it was mainly between $3500 and $4200.
but all those times without any exception, this suppression can not last forever. it is bound to end at some point. and when it does the price acts like a spring that is let lose and flies off to the air.
as others said there was this resistance at $4200 which everyone was waiting to be broken, as it was then they got it as a signal and FOMO bought so price went fast up to $5000. right now it has also done correcting and is starting to rise back up again and currently is at $4800 and rising more.

[maydna]

I only know the price can get pumps too higher although now, the price is back to $4882. It's not a problem for me as I know that in the future, the price will increase higher. I think this is only a small test for the price and it seems, in this month, we will see another bull market for bitcoin although I am not sure.

And if the bull market finally arrives, then we will see the market will recover and will reach the higher price ever. Every coin will raise the higher price, and all coins will compete to search for a better position at the CMC. But we need to wait for a while and make sure that this is the time for the bull market to come.

[wuvdoll]

Nobody really knows the exact reason, some people say it was due to some April fools joke and some people say it was due to some ETF news but really the only ones that know the true reason is the people who bought bitcoin during this time that caused the price to go up.

If we could reach to people who bought bitcoin from 4100 all the way to $5k than we could know the exact reason why bitcoin went up totally, without them whatever we say will literally be just speculation. I think it was just seeing how close the bitcoin is to the resistance for too many days in a row and seeing how if a whale could eat up a big chunk of it than people will follow and that whale could sell later during the next resistance at peak prices, that would help the whale and increase the price at the same time.

[Slow death]

The price hit 5,000 today.

 

Where did you see hit $5000?



https://www.binance.com/en/trade/BTC_USDT

Obviously, it will fall back to 4,000 these days.

maybe fall to $4400 to $4600 and stay in that zone for some time, but I find it very difficult to fall below $4000

some people say it was due to some April fools joke...

I hope that's not the reason because it would be a big joke for the crypto world.