Bitcoin Drops Back to $5K Price Support After Failed Breakout

[scambust]

Just notice that the Bitcoin price keeps on re-testing the upper boundary or the resistance levels around $5100 to $5300. As along as retesting the levels keeps on, it will break. Just like when $6,000 support was retested many times and broke down to $3000.

[1715211624]

1715211624

[Dreamchaser21]

Just notice that the Bitcoin price keeps on re-testing the upper boundary or the resistance levels around $5100 to $5300. As along as retesting the levels keeps on, it will break. Just like when $6,000 support was retested many times and broke down to $3000.

Yes, we are on this level before when bitcoin price are trap on $4k level but eventually we are able to break the resistance. We already have a great trend this month, and maybe we need to have some rest and make a good pump again next month. We will pump as soon as we break the first level of resistance, soon to happen i believe.

[tomahawk9]

It goes $4948 base on bitstamp 24 hour low but good thing it's now up to $5k again. When most are expecting a rise, the opposite thing happen that's why i'm not yet fully confident that we are already in bull run because I knew this would come along the way.

During the last bull run, in 2017, there were a lot massive price swings, I'm talking about 1k dips, sometimes even more, probably corrections or just people taking profits at X price, but the price always managed to recover and continue the uptrend. I'm not saying we're going to see that right now, but it's pretty common to see pullbacks in the price during a bull run since prices won't always keep an upward movement.

[mirakal]

It goes $4948 base on bitstamp 24 hour low but good thing it's now up to $5k again. When most are expecting a rise, the opposite thing happen that's why i'm not yet fully confident that we are already in bull run because I knew this would come along the way. Well, some are taking profit so a drop like this is normal.

It did rise back, so the support is strong enough.
This is what we want, we can climb higher but it's not an easy journey since we been in bullish period of a long period of time.
But the fact that we have a good support, this will avoid unnecessary dump of the price and will make the price stable.

[Siren]

It goes $4948 base on bitstamp 24 hour low but good thing it's now up to $5k again. When most are expecting a rise, the opposite thing happen that's why i'm not yet fully confident that we are already in bull run because I knew this would come along the way. Well, some are taking profit so a drop like this is normal.

It did rise back, so the support is strong enough.
This is what we want, we can climb higher but it's not an easy journey since we been in bullish period of a long period of time.

Agreed mate that all of us are waiting for bitcoin or even all the altcoins to climb atleast continuously with small volume.
But i guess what you mean is BEARISH PERIOD for long period of time.i stand to be corrected if wrong

But the fact that we have a good support, this will avoid unnecessary dump of the price and will make the price stable.

This is a good part on this time that the support is here and can prevent us for losing big when theres a dump happens

[bitbunnny]

Just notice that the Bitcoin price keeps on re-testing the upper boundary or the resistance levels around $5100 to $5300. As along as retesting the levels keeps on, it will break. Just like when $6,000 support was retested many times and broke down to $3000.

Maybe, but it's yet to see where are the upper resistancy boundaries this time. To my opinion price will fluctuate going back and forth below and up from 5000$. I don't expect that 6000$ boundary will be broken soon that would probably open the doors for more progressive price recovery.

[wuvdoll]

I just love how it says "it drops back to $5k support" , that has been something we have been waiting for months, I can technically even say "whole year" because of 2019. We had the drop during November and ever since than we have been trying to break the $4k barrier for a while and now our "fall" is to $5k, that makes me feel so much better.

As long as we so close to the next resistance and we keep trying there is no way we won't break it, we will definitely move beyond those prices and hit $6k soon. It won't be right away but it will be sometime soon I am sure of that. All we need to do is not to get desperate and not to give up our hopes and as long as we keep trying which will cost some money to some people for sure but in the end we will break and all of us will profit from it.

[onrise]

Just notice that the Bitcoin price keeps on re-testing the upper boundary or the resistance levels around $5100 to $5300. As along as retesting the levels keeps on, it will break. Just like when $6,000 support was retested many times and broke down to $3000.

Btc seems has being testing time and again and it is getting a uptrend from here and we may see some rise again in coming time and can reach to 5700$ or more in this month as well. We hope that big players just do not book short term profits .

[jakelyson]

What I take from this is that we have strong support at 5K. Not a month ago we are below 4k and now the price is holding up at 5k. That is a positive development for me. It will break the resistance when it breaks it. For now, strong support at this level is essential to move forward.

the price of bitcoin will be $10k this year since the CEO of Bitmex says so.

One person saying that does not make it true. He is the CEO but he does not control the future.

[darewaller]

Just notice that the Bitcoin price keeps on re-testing the upper boundary or the resistance levels around $5100 to $5300. As along as retesting the levels keeps on, it will break. Just like when $6,000 support was retested many times and broke down to $3000.

Maybe, but it's yet to see where are the upper resistancy boundaries this time. To my opinion price will fluctuate going back and forth below and up from 5000$. I don't expect that 6000$ boundary will be broken soon that would probably open the doors for more progressive price recovery.

It is possible it breaks the resistance soon, it almost broke above $5500 recently but for the trading going on, it could not maintain its stand. As you said, price will keep fluctuating and what will make the price break to $6000 is if we continue to get more of BUYS to SELL, we just need one more BIG investor to come in like the one we experienced of April fool’s day to push the price up above $6000 and then we start another trend from $6000 again, which I believe this is how we will gradually start increasing and this pattern will lead us to its ATH.

[Idrisu]

https://www.coindesk.com/bitcoin-drops-back-to-5k-support-after-failed-breakout-2

Bitcoin (BTC) has fallen back to support at $5,000 after a failed breakout Wednesday.

The number one cryptocurrency by market valuation made a strong bullish break from an ascending triangle pattern yesterday evening at 18:00 UTC, reaching a peak of $5,488 on the Coinbase exchange. However, that move was quickly rejected and an increase in selling pressure on today’s open laid the pathway for bitcoin to slide, first to $5,200 overnight, then quickly to $5,018 soon before press time.

Bitcoin is in good condition now and I think it is a little reset and we should expect more bullish trend in some days and months to come.  Now that it is a bit stable I think is the best time to buy and make some good profits.  I have decided to keep holding and any funds that come into my hand using to buy because I strongly believe that in 2 to 7 months to come it is going to surge high.

[jademaxsuy]

What do you think about this market price of bitcoin from 5,4k usd to 5k usd? Can exchange manually manipulate bitcoin market price in their exchange? I can think of this as possible but I have trust also with the dev. that they are doing it right and people or investors run the bitcoin by its demand and support to bitcoin.

Hopefully bitcoin will reach 6K usd and then kick off to bull run. Of course this is all what we wanted and hopefully it will be done.

[fourpiece]

We will see another pump on bitcoins price after this holy week. $6k will be reach soon, i cant wait to see my assets in green again, is it the time to say lambo again?

[scambust]

We will see another pump on bitcoins price after this holy week. $6k will be reach soon, i cant wait to see my assets in green again, is it the time to say lambo again?

LMAO, dude. I went back to this thread. And Bitcoin just hit $7,000. I was right to buy the $3,000 to $4,000 range. The depression and rage in this forum was so palpable back then in February and March.

[snipie]

LMAO, dude. I went back to this thread. And Bitcoin just hit $7,000. I was right to buy the $3,000 to $4,000 range. The depression and rage in this forum was so palpable back then in February and March.

Since when the FUDsters stopped saying random words in bitcointalk 
Bitcoin is made to stay, volatility cycles are simply normal and an experienced user should know that indeed and do not be afraid from buying whenever the price goes down!

[LUCKMCFLY]

LMAO, dude. I went back to this thread. And Bitcoin just hit $7,000. I was right to buy the $3,000 to $4,000 range. The depression and rage in this forum was so palpable back then in February and March.

Since when the FUDsters stopped saying random words in bitcointalk 
Bitcoin is made to stay, volatility cycles are simply normal and an experienced user should know that indeed and do not be afraid from buying whenever the price goes down!

The true $ 7K was not even contemplated in further analysis, because the stage of accumulation is usually very long, well in fact we are still in the accumulation stage, the best thing of all is that the price has grown without there being any correction , it would be ideal that no correction occurred, but that the movements were possible lateralization, and continue to increase in price.

There is not yet an uptrend stage, only that the volatility is very high, it is normal that at this stage the price goes up a lot and then goes down, it is necessary to take into account that many operators look for new prices by testing and testing, to see that so much demand can there be if there is a high offer,

That is why always for an uptrend stage, it is good to check the millionaire portfolios, and when they are well filled at least 70% you could say yes, that the price is ready to go up.

[JohnBitCo]

LMAO, dude. I went back to this thread. And Bitcoin just hit $7,000. I was right to buy the $3,000 to $4,000 range. The depression and rage in this forum was so palpable back then in February and March.

Since when the FUDsters stopped saying random words in bitcointalk  
Bitcoin is made to stay, volatility cycles are simply normal and an experienced user should know that indeed and do not be afraid from buying whenever the price goes down!

The true $ 7K was not even contemplated in further analysis, because the stage of accumulation is usually very long, well in fact we are still in the accumulation stage, the best thing of all is that the price has grown without there being any correction , it would be ideal that no correction occurred, but that the movements were possible lateralization, and continue to increase in price.

There is not yet an uptrend stage, only that the volatility is very high, it is normal that at this stage the price goes up a lot and then goes down, it is necessary to take into account that many operators look for new prices by testing and testing, to see that so much demand can there be if there is a high offer,

That is why always for an uptrend stage, it is good to check the millionaire portfolios, and when they are well filled at least 70% you could say yes, that the price is ready to go up.

It is good that bitcoin break out the resistance but it does not mean that it will continue to go up without any correction. Bitcoin might get rejected at 7300$ resistance level and from there we might see some big corrections. I am hopeful that bitcoin might stay above 6000$ and this 6000$ will again become a massive support as it was in 2018.