Are We Going Back to $7,000?

[dothebeats]

Strong support is placed at $7500 on most exchanges right now though that doesn't mean that it can't be pulled off by whoever owns that at any given moment. Right now I won't recommend buying, but the insane dip just a few days ago would have been a nice buy if you are keen on what's happening with the market at that time. $7900 is currently a fragile price point and I wouldn't suggest buying at this range. Perhaps if we climb back down $7500 or lower, buying would be good.

[AjithBtc]

We'll reach $7000 often which is just a kind of a price fluctuation. The market has gained good support and it is on the urge for the next price increase. With that we can reach the $10000+ value. This is how the market is moving, same time if the whales try to manipulate we can experience a downtrend and further will begin its growth. If there is some form of deep fall it can be used as right time for investment.

[boyptc]

We'll reach $7000 often which is just a kind of a price fluctuation. The market has gained good support and it is on the urge for the next price increase. With that we can reach the $10000+ value. This is how the market is moving, same time if the whales try to manipulate we can experience a downtrend and further will begin its growth. If there is some form of deep fall it can be used as right time for investment.

And its totally staying to $7900 for the moment. We will see $10000 soon if this gain will never stop the market.

Strong support is placed at $7500 on most exchanges right now though that doesn't mean that it can't be pulled off by whoever owns that at any given moment. Right now I won't recommend buying, but the insane dip just a few days ago would have been a nice buy if you are keen on what's happening with the market at that time. $7900 is currently a fragile price point and I wouldn't suggest buying at this range. Perhaps if we climb back down $7500 or lower, buying would be good.

There's still a possibility that we might see a pull back to $7000 but I'm confident that we will stay higher than the support. And later on it will break a new support.

[Kemarit]

Support level at this point is $7700, $7500, obviously if those are broken then the price could go to $7000 levels. So there is that possibility and that everyone should take that opportunity to stash some more and then see if the market will continue to go down or not. If it did, then buy more at this dip.

So far the price is holding at $7700-$8000, It retested $8000, but wasn't able to push enough to $8200-$8400 upper bounds. So let's see if a break-out run could resurfaces or the price could go as low as $7500.

[Herbert2020]

trends don't have to last indefinitely. they only last as long as the force behind them are still strong and there and end when that force ends. more importantly that end doesn't mean reversal, it just means that trend ended and new one is starting.

in this case the trend was party a FOMO and partly a long overdue correction of an underpriced state which needed to go back up fast and big like this. so it happened. in other words bitcoin price should have reached $8000 in December or January tops so it is already 5 months late.
when that happened, it slowed down and entered a new phase which is the build up to the next rally towards $10k. it doesn't have to go back down to $7k or other lower prices, not to mention that it still would be a less than 10% drop which is ignorable.

[Genemind]

It's really possible because the market has been really surprising. It could rise up and go down easily and $7k is so near to its current value. We could expect all the best from Bitcoin but we can also expect the worst at the same time.
The market is volatile so this possibility could happen anytime.

[samlaode]

It's really possible because the market has been really surprising. It could rise up and go down easily and $7k is so near to its current value. We could expect all the best from Bitcoin but we can also expect the worst at the same time.
The market is volatile so this possibility could happen anytime.

I also think so, in general we are seeing an uptrend but besides that the price of bitcoin will decrease at some point. $7000 is still a good price if that happens.

[Distinctin]

We are at $7000+ now, but I am not seeing it will go down at the 7K floor.

Bitcoin will continue it's good movement, good thing is that we have tried to break the resistance although we failed many times. Just like the previous movement, we did not expect and then we were surprise that price already pump, I am very optimistic about the next movement, it could bring us to over $10,000.

Keep calm at this time, I'm sure the whales will not failed us this time, they are ready to pump.

[Pursuer]

after the big breakout and reaching the $8k levels, things were quite volatile but as time passes the buy supports are becoming stronger and they are making the drops harder and harder. for now the $8k price may look like a strong resistance but it doesn't warrant a drop down, we are only in a small mid way accumulation which started after the cash out of some short term traders for small short term profit. the next upward momentum will start again pretty soon specially with all the good news that keeps on coming out these days.

[piebeyb]

if I see strong buy support at $ 5500 - $ 6000, I don't think that would be below it, but maybe if the price of bitcoin corrects it doesn't happen for a long time, just think that he won't return to the price of $ 6666.66 and play there too long so let's look in the next 1 or 3 weeks, hopefully it will stay at $ 7,000

[Lucius]

The price hovered below the $4000 for quite some time and people didn't want to touch Bitcoin, while now it's worth twice as much people suddenly wait for $7000 to start buying? Nonsense. Don't fool yourself thinking that.

For me the reason for such behavior is in fact that people (at least most of them), invest in bitcoin only when they see price is moving up. They are focused on how to get quick money, not in how to invest in bear market and profit in long-term. How else to explain that buying power was so low in months when price was half what it is today, and now more people want to buy then sell.

I guess that price would still be under $5000 if someone is not reversed the trend with that April $100 million buy order. Same as price would probably be close to $9k or even higher if someone did not slow down this process by selling order of 5000BTC.

It is easy to play with market if you have enough fiat and bitcoins, and someone has wisely said that little thing in the world happens by chance.

[onrise]

No I dont think so

We are getting out of the bear market and getting for the bull market!

Does not seem to happen this way. A certain profit booking did took place due to which the market tumble and now again it is on the recovery path due to which it has reached to 8k levels and soon might even cross and closes 5 digit mark in coming time. So people who did not panicked and hold it will gain and get best returns as well.

[arpon11]

No I dont think so

We are getting out of the bear market and getting for the bull market!

Does not seem to happen this way. A certain profit booking did took place due to which the market tumble and now again it is on the recovery path due to which it has reached to 8k levels and soon might even cross and closes 5 digit mark in coming time. So people who did not panicked and hold it will gain and get best returns as well.

I agree with this views you have shared and bitcoin is more of an uptrend now than down trend. The little decline that has happened from on Friday last week till now did not post any threat at all and it could have been better than the current price of $8028 if not the delay in ETF approval and I believe that from now we would start to see great investments flowing into cryptocurrencies market.

[r1a2y3m4]

We did went back to $7000 or somewhat near that value but at least it is safe to say now that we will fly again to $8000. The price is near that value($7986) as per 6:16 PM UTC.

[entebah]

We did went back to $7000 or somewhat near that value but at least it is safe to say now that we will fly again to $8000. The price is near that value($7986) as per 6:16 PM UTC.

Yes, the price of Bitcoin is now approaching a return of $ 8000, so if it continues to exceed that price, then the price will return to its peak, hopefully.

[harizen]

After reaching $8,000+ mark then goes down around $7,000+, I don't understand how some people thinks that no way the price will goes down more. Looks like others got overhype at these price increase happened and stay on a thinking that price will continue to goes upward. Yes it is, but don't ever removed the possibiliies of having a quite spoiling while on progress.

Not a big deal after all for me if it we goes back to $7,000. Remember that we are below that price level for over a year so still way better.

Can also considered as good entry point again to do those who short at $8,000 level and just waiting for a dip.

As of writing, now around $,8000.

[Oceat]

We did went back to $7000 or somewhat near that value but at least it is safe to say now that we will fly again to $8000. The price is near that value($7986) as per 6:16 PM UTC.

Yes, the price of Bitcoin is now approaching a return of $ 8000, so if it continues to exceed that price, then the price will return to its peak, hopefully.

The price seems normal right now guys, it's just that the volatility of the market is very strong that it changes any minute but at least it is at a stable price right now at $8000. This makes a sign that we are really going to the moon it is just trying to gather some momentum till it finally goes off to maybe $10k before the end of the year.

[klaaas]

with the current swings above and under the 8k bar it is still to see if we can hold it. may it push over and bottom out on 8k, we are heading to the 10k but 7k i would not rule out yet.

[VanDeinsberg12]

It's really possible because the market has been really surprising. It could rise up and go down easily and $7k is so near to its current value. We could expect all the best from Bitcoin but we can also expect the worst at the same time.
The market is volatile so this possibility could happen anytime.

This is so funny to see that last week we have seen the price of bitcoin almost touched 7k and that's for real. This time is a little bit different with the latest correction that makes bitcoin touch 7200 again.
the market looks stable and there was no a lot of bad news that fundamentally affects the mental of the bitcoin itself.
Essentially, this will put bitcoin into the stable condition and nothing happen.

[leowonderful]

I wouldn't rule out a return to the lower or mid $7000s in the short term either as it seems we're having a somewhat difficult time breaking over $8000-8100 at the moment, though most of the dips that have occurred recently have also been bought up relatively quickly. Can't rule out an unexpected large wick down like what happened on the 16th of May either. I would be extremely cautious margin trading for now, keep watch on your positions and close out as needed.