Bitcoin Price Retakes $10K But Remains Short of Bull Revival

[everlyn]

 Bitcoin has again charted a recovery to above $10,000, but the outlook remains bearish with the lower-highs pattern intact.
 The recent gains may be short-lived, as the recovery seen in the last 24 hours is stuck at key resistance levels and lacks volume.
 A UTC close above $11,120 is needed to revive the bullish view. That level could come into play if BTC clears key resistances around $10,200 on high volumes.
 https://www.coindesk.com/bitcoin-price-retakes-10k-but-remains-short-of-bull-revival

[Slow death]

I don't want to create panick in people, but the price is stagnant at $9500 and in my opinion if the price remains stagnant at $ 9500 without being able to rise, people will start selling it we will see another big price drop. and as I said, it won't surprise me to see the $7000 price again. It seems to me that the price had risen so much because people bought it because of the high expectations they had created about the Libra. Once reality is stamped on people's faces then they started selling their bitcoins

[1Referee]

I don't want to create panick in people, but the price is stagnant at $9500 and in my opinion if the price remains stagnant at $ 9500 without being able to rise, people will start selling it we will see another big price drop. and as I said, it won't surprise me to see the $7000 price again. It seems to me that the price had risen so much because people bought it because of the high expectations they had created about the Libra. Once reality is stamped on people's faces then they started selling their bitcoins

If people panic over this they clearly don't belong here.

Yesterday we had a large wick that tanked the price to ~$9100 but it was quickly bought up by bulls, which for now is an indication that they are not giving it up. I am expecting one last (last as in temporarily last) +$10,000 visit before we put in a sub $9000 low. The charts just don't look bullish and I will follow the trend until it shifts to the bullish side.

In order to see how much capital comes in or goes out it will be important to keep an eye on Tether's supply. Major supply movements will affect the price just like it did last year.

[sunsilk]

Honestly, when I've looked up to the price @ $9,100. Within few minutes, it's surprising that it had made it up back to $9,500.

No reasons beyond that but I think many are just testing on this phase and thinking if this is a good reentry for them. I smell the same pattern that we had before during around $3k - $5k. We had the same stagnation during those period like we had right now or we just used to see quick movements since it is bitcoin.

[BitHodler]

It's not looking all that good right now, but I think people forget to appreciate at what levels we trade today. The market has a bearish tint to it around $9500 which is way higher than when the market was bearish below $4000.

Overall, it feels too early to consider the $10k mark to be in the pocket and therefore perfectly normal that we see the price bounce up and down. Realistically speaking, there is much more potential to the downside than what we have seen.

Yesterday we had a large wick that tanked the price to ~$9100 but it was quickly bought up by bulls, which for now is an indication that they are not giving it up.

I really thought that we would fall below $9000 as I was watching the price action live, but then saw how it jumped back up to continue going side ways, which it has been doing for two days now.

[Reid]

It had been quite a slow swing this past few days. But now that it regained, there might be possibility for a bull run too. Or could this be the bull run already and is now going uptrend?

Profits have been taken and it might be possible that some are buying back seeing a slow dump which may also cause FOMO to other traders and large investors.
Yes, breaking the ATH for this month could be the answer and if it does happen then we might be also seeing a continues increase in value in the month of August.

[Juggy777]

It had been quite a slow swing this past few days. But now that it regained, there might be possibility for a bull run too. Or could this be the bull run already and is now going uptrend?

Profits have been taken and it might be possible that some are buying back seeing a slow dump which may also cause FOMO to other traders and large investors.
Yes, breaking the ATH for this month could be the answer and if it does happen then we might be also seeing a continues increase in value in the month of August.

Bitcoin prices are tanking continuously and they have broken the support levels of $9500, it seems to me that bears have once again taken control of the market. According to newsbtc article bitcoin prices can swing in any direction, but if it falls then they’re expecting it to fall to $8k levels. In my personal opinion if bitcoin prices touches $8k, then we may witness lots of panic sales which will further add pressure on bitcoin prices.

News Article Link: https://www.newsbtc.com/2019/07/30/big-bitcoin-corrections-expected-and-normal-could-btc-drop-to-8k-soon/

[Red-Apple]

this is yet another stage of uncertainty for bitcoin market where the investors expect the price to go higher but they don't want to take any actions yet about it because they fear that the price might drop some more so they could buy at a cheaper price. so they end up waiting.
that is why each time we have such a stage we end up with a sharp jump right after it ends. they all FOMO back in.

[buwaytress]

It's going to be a long battle to claim, lose, and reclaim that 10k hill from here onwards.

You know, what's really strange is that there does seem to be more fearmongering in the news, and it's not really affecting price or sentiment. We're looking at sudden dips and sudden peaks, and then rather boring sideways in between. It's like the scalpers wake up and their short window of movement is pushing the market up or down.

[omonuyak]

I think bitcoin is going to cross $10,000 and remain above it for long terms as we can now find that the Golden cross that happens in 2016 February is about to repeat itself and it is always strong bullish trend. I am seeing people share this now more than any other analysis, news, and comments about Bitcoin on Twitter . Hope that few days to come we would start to see this Golden cross affecting the market positively.

[eaLiTy]

Bitcoin has again charted a recovery to above $10,000, but the outlook remains bearish with the lower-highs pattern intact.
 The recent gains may be short-lived, as the recovery seen in the last 24 hours is stuck at key resistance levels and lacks volume.
 A UTC close above $11,120 is needed to revive the bullish view. That level could come into play if BTC clears key resistances around $10,200 on high volumes.

I am not expecting any great revival in the coming months, we might see a bound range trading for some time and if the price could not break the resistance we have now we might see a further sell off but that does not mean that we are in panic mode, the price will recover in the next two months and hopefully we will end the year above $10k, this was my initial prediction at the beginning of the year but the price recovery surprised me as i never expected the present valuation during this period.

[BrewMaster]

in my opinion if the price remains stagnant at $ 9500 without being able to rise, people will start selling it we will see another big price drop.

that doesn't make any sense! if anything when price remains above a price level, stable, that means more people are going to gain the confidence that there is no drops happening and they start accumulating aka buying more.

besides if you go back a couple of pages you can see people were saying the same thing nearly each time price got stable during this rise. for instance when it was stable at $3200 they were saying $1500 is coming because it is not rising!!!

[The Sceptical Chymist]

in my opinion if the price remains stagnant at $ 9500 without being able to rise, people will start selling it we will see another big price drop.

Eh, I'm not sure that's what's going to happen.  Bitcoin was stuck at about $3500 for months after the 2017 crash, so there didn't seem to be a lot of selling going on and people didn't panic.  Remember, bitcoin at $9500 is what it rose to from being stuck at $3500 and it did that very quickly.  It isn't healthy or sustainable for the price to shoot up that far that fast.  If it stays at $9500 or in a range thereabouts, I'd be completely fine with that for a while.

It's going to be a long battle to claim, lose, and reclaim that 10k hill from here onwards.

Yeah, but it's so close to $10k right now--and it's been bobbing up and down past that mark--so I don't think it's going to be all that hard for bitcoin to rise above and beyond it.  There's a bit of uncertainty in the market right now, but I don't think the overall bullish sentiment has died down yet.

[exstasie]

in my opinion if the price remains stagnant at $ 9500 without being able to rise, people will start selling it we will see another big price drop.

that doesn't make any sense! if anything when price remains above a price level, stable, that means more people are going to gain the confidence that there is no drops happening and they start accumulating aka buying more.

This "stable" level could break down as well as up. In fact, sideways consolidations like pennants, flags, and triangles are usually continuation patterns. So in a downtrend, they are usually considered bearish consolidations.

Since the double bottom attempt didn't explode upwards, I'm inclined to think this is still bearish. If we go sideways for another week, my opinion on that might change.

[1Referee]

Yesterday we had a large wick that tanked the price to ~$9100 but it was quickly bought up by bulls, which for now is an indication that they are not giving it up.

I really thought that we would fall below $9000 as I was watching the price action live, but then saw how it jumped back up to continue going side ways, which it has been doing for two days now.

I can see how it might give people the impression that we're due for lower levels, but what matters is where the candle ends up closing. The market is so thin currently that we should expect more of these wicks. People not used to this should focus on something else because these wicks are still on the smaller side.

As we speak, we seem to have broken through a descending resistance level which might translate into another attempt to break $10,000 in the coming days. I am however pretty confident that even if we do break $10,000 the overall trend is still down and we will make lower lows.

[serjent05]

I don't want to create panick in people, but the price is stagnant at $9500 and in my opinion if the price remains stagnant at $ 9500 without being able to rise, people will start selling it we will see another big price drop. and as I said, it won't surprise me to see the $7000 price again.

Well, there is always a possibility that people are just waiting for a big announcement that is why price is going sideway.

It seems to me that the price had risen so much because people bought it because of the high expectations they had created about the Libra. Once reality is stamped on people's faces then they started selling their bitcoins

I  am still not convinced that the previous steep increase in price of Bitcoin is created by the news about Libra.  Bitcoin is already rallying before that Libra announcement is made.  Though the following dip in price are  possibly those people who bought at cheaper price cashing out.  
  

This "stable" level could break down as well as up. In fact, sideways consolidations like pennants, flags, and triangles are usually continuation patterns. So in a downtrend, they are usually considered bearish consolidations.

Since the double bottom attempt didn't explode upwards, I'm inclined to think this is still bearish. If we go sideways for another week, my opinion on that might change.

Indeed, how many times we have seen in a bull run, often times a lower high is followed by consilidation then upward trend.  So the price can go either way but for me, I am incline on the price chart going upward.

[samcrypto]

this is yet another stage of uncertainty for bitcoin market where the investors expect the price to go higher but they don't want to take any actions yet about it because they fear that the price might drop some more so they could buy at a cheaper price. so they end up waiting.
that is why each time we have such a stage we end up with a sharp jump right after it ends. they all FOMO back in.

On that level people are just watching the market and waiting for the price to recover again, and they will only buy if they saw a good signal. The sad truth of this cycle is that, they will always sell and it brokes the trend and many people will be broke again. If there’s a $10k price today, we should aim for $15k next month!

[Red-Apple]

this is yet another stage of uncertainty for bitcoin market where the investors expect the price to go higher but they don't want to take any actions yet about it because they fear that the price might drop some more so they could buy at a cheaper price. so they end up waiting.
that is why each time we have such a stage we end up with a sharp jump right after it ends. they all FOMO back in.

On that level people are just watching the market and waiting for the price to recover again, and they will only buy if they saw a good signal. The sad truth of this cycle is that, they will always sell and it brokes the trend and many people will be broke again. If there’s a $10k price today, we should aim for $15k next month!

i don't think they particularly "sell" their coins. they have either already sold or are holding and waiting. any more sell would only come if there is a big significant drop not these small ones.
the problem is also with them not buying which is making the price stable here.

[btc_angela]

this is yet another stage of uncertainty for bitcoin market where the investors expect the price to go higher but they don't want to take any actions yet about it because they fear that the price might drop some more so they could buy at a cheaper price. so they end up waiting.
that is why each time we have such a stage we end up with a sharp jump right after it ends. they all FOMO back in.

On that level people are just watching the market and waiting for the price to recover again, and they will only buy if they saw a good signal. The sad truth of this cycle is that, they will always sell and it brokes the trend and many people will be broke again. If there’s a $10k price today, we should aim for $15k next month!

It's easier said that done. Although in the last 24 hours the price seems to recovery around 1%-3%. Might not be a good indication that the bulls are still in it though, there might be people willing to sell again if 5 digits is breach. Would rather hold and not be affected by this marginal price fluctuations. $15K is still doable this year, a good price to take profit for those who have manage to hold their coins they got around $3200.

[rdluffy]

3 months ago we are at sub 6k USD level, I think we are good, it's a correction and we have to be patient and wait for a rise
It's better this way, no panic, no FUD, no insane levels
I'm still optmistic, we are in a good trend, if we reach 10.5 or 11k people will put more money and the bull will start again