Bitcoin unable to breach the $8000 milestone

[exstasie]

Two days is not enough to say its "unable to breach".

Thats the problem with these shorters: they want bitcoin to rise very quick, so that they can cash out their profits in fiat as soon as possible.

Bitcoin is doing fine. The 8k level is stable. If it stays there for at least two weeks, the price can go easily to 10k.

Consolidating for two weeks here sounds like a dream come true. We'd establish huge support in the $8K area and would also accumulate lots of shorts to fuel the next wave up. After such a long sideways, we could definitely tag $10K and further. Altcoins would probably start mooning too with so much sideways.

I'm guessing that won't happen though. It looks like we'll break above the last local top in the next several hours.

[DeadCoin]

We have been at around $8000 for two days already with minimal fluctuations. We have flatlined at that number.
The price of $8000 seems to be a huge barrier for Bitcoin.
What is going on? Should we expect Bitcoin to go above 8K and land on the Moon, or is there going to be a very serious and devastating dip down to $4000?
Discuss.

Lets see. If $8000 travels between $7950 to $8050 for few more hours or 24 hours, then we can yes certainly expect a spike again moving to $9000 in another 48 hours. But if the value comes down to $7000, then yes, can expect a down fall to $5000 again in another 48 hours. Lets wait for another 5 more hours.  

[WinslowIII]

And just like that, an hour or two later it's in the $8200s. This is going up way too fast, it has to stop at some point then it will have a big correction.

[Mahanton]

We have been at around $8000 for two days already with minimal fluctuations. We have flatlined at that number.
The price of $8000 seems to be a huge barrier for Bitcoin.
What is going on? Should we expect Bitcoin to go above 8K and land on the Moon, or is there going to be a very serious and devastating dip down to $4000?
Discuss.

Don't rush up bud. Things wont really goes that way on what you are thinking.We might go to the moon but wont really be that fast and it would still
takes time.I would prefer on that way on having gradual increase rather than on a short big spike.

Tendency of dumps is inevitable so you should expect anytime for that thing to happen.Best thing here is that you should utilize these pumps
to make profits.Dont mind too much on breaking out the resistance of 8k.Be grateful that we do able to see this price once again.

[omonuyak]

We have been at around $8000 for two days already with minimal fluctuations. We have flatlined at that number.
The price of $8000 seems to be a huge barrier for Bitcoin.
What is going on? Should we expect Bitcoin to go above 8K and land on the Moon, or is there going to be a very serious and devastating dip down to $4000?
Discuss.

As at yesterday morning bitcoin went as high as $8390 when I check my wallet and I think it is currently more of the uptrend than downtrend.  I expect a very serious explosion after this corrections that is happening now as it is still strong above $8000.

[1Referee]

And just like that, an hour or two later it's in the $8200s. This is going up way too fast, it has to stop at some point then it will have a big correction.

That's the general way of thinking, but we have seen quite some significant dumps already, and they have been absorbed as if they were double digit BTC dumps.

Just by observing the demand, it to me looks like that we're in for more upwards momentum, and that's also why I got rid of my short. I'm not yet comfortable putting in a long, but it wouldn't surprise me if we pump straight to $9000 in the coming days, especially with how altcoins are pumping too, so the overall sentiment is super duper bullish.

In the end, the price goes down fast (which we have seen last year) and goes up fast, that's Bitcoin. It hasn't done anything else in its first decade. 

[magneto]

We have been at around $8000 for two days already with minimal fluctuations. We have flatlined at that number.
The price of $8000 seems to be a huge barrier for Bitcoin.
What is going on? Should we expect Bitcoin to go above 8K and land on the Moon, or is there going to be a very serious and devastating dip down to $4000?
Discuss.

I don't really understand your sentiment in regards to BTC potentially dipping down to $4k.

The market sentiment has shifted to the bullish side of the spectrum, and though it is likely that a temporary dip will come sooner or later after this rally, there is no reason to assume that the previous bottom will be retested even if the $8k resistance proves to be too much, if you simply look at the change in expectations of investors from the bear market to now.

Personally, I believe that $8k will be established as support as a matter of time. We've been trading above that level for some time now and given the fear of missing out, it shouldn't be resistance for too long. The general trajectory for the long term in this current cycle is still bullish and that's all that matters.

[rijaljun]

We have been at around $8000 for two days already with minimal fluctuations. We have flatlined at that number.
The price of $8000 seems to be a huge barrier for Bitcoin.
What is going on? Should we expect Bitcoin to go above 8K and land on the Moon, or is there going to be a very serious and devastating dip down to $4000?
Discuss.

It's impossible for Bitcoin to go down to $4000 again, however $5000 is still possible but I don't believe Bitcoin will re-test its support at $5000 area. If Bitcoin keeps on current price, it's very possible for a correction because the demand is not enough yet, might be just a little before it will hit and break more resistances when more demands come.

[BitHodler]

It's impossible for Bitcoin to go down to $4000 again

Just like how "impossible" it was according to people that Bitcoin wouldn't fall under the $6000 mark? Bitcoin has proven that nothing is impossible here--at the very best, things could be pointed at as unlikely to happen.

I prefer to see the market consolidate around lower levels after getting rid of sub $5000 buyers. I'm sure that they will dump the moment they see the price comes closer and closer to their initial buying price.

however $5000 is still possible but I don't believe Bitcoin will re-test its support at $5000 area.

You think $5000 is still possible but don't believe it will be tested? Makes sense....

[redsun114]

We have been at around $8000 for two days already with minimal fluctuations. We have flatlined at that number.
The price of $8000 seems to be a huge barrier for Bitcoin.
What is going on? Should we expect Bitcoin to go above 8K and land on the Moon, or is there going to be a very serious and devastating dip down to $4000?
Discuss.

In April when this uptrend of a thing started, the price moved from $3,300 to $5000 and then it became stable at that time and even dropped back to around $4000 plus, and everyone thought it was going back to a lower price then it started to go back to $5000, and we thought that this month of May that it is going to reach just $6000 but it has passed that $6000 and gotten to $8000.

So what else are you expecting, you should try to have patience and not rush and try to follow up some market analysis, in case something else happens. But what I know is that this is like a short break, before you know what's happening it will start going up again.

[Indrawan77]

Give bitcoin more time to hit that target, it maybe a little hard to make bitcoin stable at that price since bitcoin just got a rapid rising, the chances for btc to have huge pullback still exist, because this rising didn't got a solid reason, but hopefully we won't need to go back to that point

[UnDerDoG81]

If it would follow the last run pattern I think we have a long way to go. Just think about, bottom was around $200. Then it easily gone through the $1200 ATH and slowly but surely went to 6k levels and the real run started there.

Adapt this to the current period, first we should reach $20k, then hovering at 50-60k and then the real run starts. Maybe after halving. But of course history must not repeat itself.

[Duzter]

If it would follow the last run pattern I think we have a long way to go. Just think about, bottom was around $200. Then it easily gone through the $1200 ATH and slowly but surely went to 6k levels and the real run started there.

Adapt this to the current period, first we should reach $20k, then hovering at 50-60k and then the real run starts. Maybe after halving. But of course history must not repeat itself.

From the low bottom it has reached such a level. For this it has taken around ten years of time, what we see is all about the recent days growth from the price around $5000. The price has been moving between $7800-$8100 for a longer time period. This seems to be a milestone that could take the price further to reach $10000 and even higher. Soon by the falling week can expect this to happen.

[Supercrypt]

It can happen to not grow much more these days, but i think the bitcoin will not drop to 4000$ even if we can have some drop i think the grow will continue later, but for this we need to wait and to hold and get more.

I also still do not see any possibility of bitcoin value dropping now as the hype needed to cause the increase is still much burning and has not really died down, we just need to continue with the hype and expect that new investor will still come in to buy, although the bitcoin price is already getting a little bit very high to buy now, unlike when it was still within the range of $5000, and $6000, so accumulating it now requires the entrance of rich investors.

This is why a little correction might just be helpful here, if we have a correction here, it will be absolutely possible for bitcoin to go towards touching the value of $8500 before we see the next surge.

[STT]

I do not normally use this measure, this is the 2 day moving average.    Its obviously short term momentum and subject to being passed but I'd like to see if this now acts as a container to the price and we see weakness as we slip below this.   Possibly we can regain here, I'm watching and normally take the 8 day as more indicative of a phase to price direction up or downwards

8 day MA is 7200 and this is my first target downside for a quick trade on this 8000 area failing to solidify as support.   Some disappointment might form and we get some sell for now

[stfN2128]

you cannot expect a new yearly high every day... some correction / range is needed to get a healthy price increase. markets work in cycles not only in one direction. be patient and don't stress to much. Price will go up when the right time has come

[Vaskiy]

The price crossed $8000 very easily. We cannot expect the market to grow continuous without any fluctuations which is not at all possible. By $8000 it is a massive sell point, upon the same there is some price correction as well. Following this there will be assured forward move and before it cross $8500 it might even touch $7500.

[Shinpako09]

Going down to $4k? I don't think so we're going to see $4k again. We are already in bull run and falling for how many thousand of bucks seems impossible for now. I don't see any reason for the price to drop, it's just the selling point can make the price drop as of now. Even the hacking incident recently didn't make a big impact. The bull seems strong.

[LeGaulois]

It's impossible for Bitcoin to go down to $4000 again, however $5000 is still possible but I don't believe Bitcoin will re-test its support at $5000 area. If Bitcoin keeps on current price, it's very possible for a correction because the demand is not enough yet, might be just a little before it will hit and break more resistances when more demands come.

When Bitcoin was at $20,000 if you would have told me Bitcoin was going to fall to $10,000 I would have laughed. Look where we are today
Bu if Bitcoin did twice, it can do it thrice.

No demand? Since 2 weeks the 24h volume doubled and the number of transactions per day is near the same as back in Dec. 2017
Out of curiosity, I visited the Google Trends stats for the "Bitcoin" query, and guess what? Well, same as back in Dec 2017.

@BitHodler
There aren't many $5000 buyers, they will maybe disappear in a few days, if, it's not already done.

[Kelvinid]

A big jump for Bitcoin price, that is crazy, I may think that nobody sells their BTC at low price helping its price to move fast and steady growth.
Maybe we are not just stopping in $8k but looking forward to having a breach for $10k. The market keeps on rallying and isn't impossible to have it before the end of the second semester.