Bitcoin Inching Closer To $10,000

[Whaleagent]

https://whaleagent.club/bitcoin-inching-closer-to-10000/



Bitcoin just broke above $10k but bears are applying some heavy pressure. Will the bulls be able to hold this significant level?

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[exstasie]

Bitcoin just broke above $10k but bears are applying some heavy pressure. Will the bulls be able to hold this significant level?

Tough to say. On one hand, I think we are nearing a bullish reversal on higher time frames (daily, weekly). On the other hand, the short term price action still looks weak, just sideways grinding without a high volume bottom. I'd like to see a daily close above the July 27th high ($10,235 Bitstamp) before getting my hopes up. This downtrend since $13,200 has been full of fakeouts, so I'm trying to avoid jumping the gun.

[leowonderful]

I'm pretty suspicious about this recent little pump we've had as well since we're just barely holding our heads over the 5-digit $10k mark, and there's been no shortage of violent, bart-like movements recently. We've been in sideways for a few hours today and I wouldn't be surprised if this action continues before another move downwards. Also looking at the region near $10300 before potentially entering a long as it seems support was present there before we fell through to the $9ks, likely an area of resistance now. If you care for RSI, it's currently hovering right on 70 on the hourly on GDAX and climbing near that region on the 4H, though things can stay overbought and oversold for a while with crypto.

[Kemarit]

Bitcoin just broke above $10k but bears are applying some heavy pressure. Will the bulls be able to hold this significant level?

Tough to say. On one hand, I think we are nearing a bullish reversal on higher time frames (daily, weekly). On the other hand, the short term price action still looks weak, just sideways grinding without a high volume bottom. I'd like to see a daily close above the July 27th high ($10,235 Bitstamp) before getting my hopes up. This downtrend since $13,200 has been full of fakeouts, so I'm trying to avoid jumping the gun.

Correct, it's hard to say if bulls are going to hold with this mini-pump because it is too weak. Trading volume/24 hours is not within the framework of a bullish trend and we have been trading in a sideway patterns for the last couple of weeks. So I wouldn't be surprised if speculators are going to take profit at $10k which means that the price wouldn't hold that long before another sub 5 digits can be seen again. So let's see how it goes at we're nearing the end of the week.

[Lanatsa]

Bitcoin just broke above $10k but bears are applying some heavy pressure. Will the bulls be able to hold this significant level?

Tough to say. On one hand, I think we are nearing a bullish reversal on higher time frames (daily, weekly). On the other hand, the short term price action still looks weak, just sideways grinding without a high volume bottom. I'd like to see a daily close above the July 27th high ($10,235 Bitstamp) before getting my hopes up. This downtrend since $13,200 has been full of fakeouts, so I'm trying to avoid jumping the gun.

Correct, it's hard to say if bulls are going to hold with this mini-pump because it is too weak. Trading volume/24 hours is not within the framework of a bullish trend and we have been trading in a sideway patterns for the last couple of weeks. So I wouldn't be surprised if speculators are going to take profit at $10k which means that the price wouldn't hold that long before another sub 5 digits can be seen again. So let's see how it goes at we're nearing the end of the week.

One of my valid indications for me to short out when it did hit 10k mark.Moving sideways with having no much volume on such event.
We cant really see more uprising momentum.We would still move side ways or would tank this level yet 10300 is the resistance.I don't know if
we can able to break it up but I doubt we would stay here for a while,no one knows.

[sunsilk]

If this fails to increase to $10,100 or higher then expect that there will be a selling pressure at this point. The pump that we had, I had no idea if there are some news that popped and made that run but seems that there's none.

I don't know if we can able to break it up but I doubt we would stay here for a while,no one knows.

If we'll stay at this point for few more days, I'll expect some sell orders coming in and a dump will definitely occur. But it's always the normal flow of the market, we see a pump and dump incoming.

[1Referee]

I know people get excited about how we went above the $10,000 level, but it's not much of a meaningful move with how the general trend is still quite bearish. The important factor is that the momentum is out of the market, which means less buyers more sellers, and much lower volumes. Sellers will use this as an opportunity to unload even more coins.

I want to see higher highs in the larger picture to actually start believing we are reversing the trend, but I don't see this happen any time soon. I'm happy to hold on to my short until that happens. My first target of low to mid $8000s is still in play, which is probably a very unpopular target in a forum filled with moon boys.

[creeps]

We have to stay above the bear level so the bulls will finally come stronger again. It we break more walls then then the price will start the new up trend, $10k is a good start but its hard to tell where we are heading at the end of this quarter. The volume is good, wait for more days if its a real up or a small pullback.

[CryptoBry]

I am hoping that it can stay above the $10,000 level but for a market situation like this where the bears seem to be gaining the upper hand there is a big tendency that days from now eventually a dip can happen or the Bitcoin going down below the comfortable $10K zone. Well, that can anyway be a good opportunity to buy some more.

[Kemarit]

Bitcoin just broke above $10k but bears are applying some heavy pressure. Will the bulls be able to hold this significant level?

Tough to say. On one hand, I think we are nearing a bullish reversal on higher time frames (daily, weekly). On the other hand, the short term price action still looks weak, just sideways grinding without a high volume bottom. I'd like to see a daily close above the July 27th high ($10,235 Bitstamp) before getting my hopes up. This downtrend since $13,200 has been full of fakeouts, so I'm trying to avoid jumping the gun.

Correct, it's hard to say if bulls are going to hold with this mini-pump because it is too weak. Trading volume/24 hours is not within the framework of a bullish trend and we have been trading in a sideway patterns for the last couple of weeks. So I wouldn't be surprised if speculators are going to take profit at $10k which means that the price wouldn't hold that long before another sub 5 digits can be seen again. So let's see how it goes at we're nearing the end of the week.

One of my valid indications for me to short out when it did hit 10k mark.Moving sideways with having no much volume on such event.
We cant really see more uprising momentum.We would still move side ways or would tank this level yet 10300 is the resistance.I don't know if
we can able to break it up but I doubt we would stay here for a while,no one knows.

You able to take the profit when it did hit the $10,000 mark? Because as soon at we hit $10,030-$10060 the price slowly moves down sub 5 digit again.

I am hoping that it can say above the $10,000 level but for a market situation  like this where the bears seem to be gaining the upper hand there is a big tendency that days from now eventually a dip can happen or the Bitcoin going down below the comfortable $10K zone. Well, that can anyway be a good opportunity to buy some more.

I wouldn't say the bears is gaining the upper hands, it's just we don't have the momentum needed to push it above the comfortable zone. That's why is another thread, I said that we are back with so much volatility and that is what we are seeing right now. Of course, this is another great opportunity, but are investors willing to buy more when the price seems to be trading sideways?

[Reid]

How do you really know that a bear might come?
I mean, does a graph is accurate enough for it to be seen that easy?
I am looking forward for another bull. Let us see the FOMOs coming back without even having any idea. Maybe a sudden increase that will left them with full of regrets.

[shield132]

There is endless rise and fall. At the moment bitcoin is higher than 10K but one hour ago it was under 10K. In overall, does this 10K surpass matters? As I said, there is really endless rise and fall, one day it rises, second day it falls. Once it reached 13K, then it reached 9K and we move on one circle. But let's be fair, we rise after all. We were on 3K and then moved on 13k. This 10K doesn't mean much but if we move again on 13k, I believe we will reach 15K very, very soon.

[BitHodler]

How do you really know that a bear might come?
I mean, does a graph is accurate enough for it to be seen that easy?

It's always in hindsight that you can figure out what the trend has really been, but there are certain indicators that do provide the signals people need to consider the short term price action bullish or bearish.

Currently I'm leaning towards bearish momentum with how we have done nothing but settle lower highs and lower lows after the peak was hit. It's somewhat similar to what happened after the 2017 peak.

I'm not saying the exact same pattern will play out, and it likely won't, but we can expect similar price activity in the sense that we have peaked and now are looking to bottom out somewhere.

[DeathAngel]

Let’s see how long 10K holds because in recent weeks it’s nosedived within 24 hours as soon as it gets over. People are seeing 10K as a sell point & time to take profits.

[Harlot]

It already visited 10,000$ several times already as after the 400$ rally we have it is now consolidating in the 9,900$ level to 10,000$ level although I see that this consolidation stage for Bitcoin will be shortlived as Bitcoin might attempt to ho up anytime soon now judging by how many times it got back up anove 10,000$ level. Aside from that Bitcoin is looking more and more bullish ever since it has risen from 9k, so I'll expect to have abig play soon from Bitcoin.

[buwaytress]

Let’s see how long 10K holds because in recent weeks it’s nosedived within 24 hours as soon as it gets over. People are seeing 10K as a sell point & time to take profits.

More significantly, even thought there was one time in the last two that they managed to hold ABOVE 10k for 36 hours, the sudden bump to 11 just put down the house of cards. Too much scalping and profittaking like you said.

I remember wondering where the 10k psychological level had gone when we went past it to 13k. I guess it never disappeared, it's back and it's very real.

[Slow death]

Bitcoin just broke above $10k but bears are applying some heavy pressure.

until a few days ago I could guarantee that the price would fall to $ 7500 because I did not see big news to drive the price increase, and about your question:

Will the bulls be able to hold this significant level?

I do not know, but considering that after this news:

CFTC Did Not Yet Approve LedgerX Physically-Settled Bitcoin Futures: Report

the price is still above $10,000, it may mean that people are not panicking for any news and this is very good

[rdluffy]

In my opinion, just based on my experience, it's very good that we started August with 10k again, not sub 10k

I hope the price rise steady and slowly, towards 12k, but solid, not a pump to correct soon after

But let's se, it's almost impossible to predict something

[harizen]

Take this chance as an opportunity to consider accumulating more. The current price behavior is a good indication that we are now seeing a good foundation of around $10,000. Just look at how strong the bulls withstanding an attempts to bring down the price at below $9,000+. Days passed and after playing around $9,500+, price now sitting at $10,000+ as of this typing.

Not an optimistic here but all our looking good. Price is not taking a quick jump but an increase on a slow phase.

Looks like the most speculated things to happen, "we won't see below $10,000 anymore once the price breached the $15,000 for the first time since ATH" is now in progress. Let's see.

[STT]

10k by itself isnt that important, there are more important levels around it like 10,200 or right now we are near the 50 day average which is shown as blue line on this chart :



I think we are still not in a positive trend but moving sideways after leaving a positive trend, it has been moving downwards some.   The 50 MA still rising is perhaps an indication we have more time to spend exploring these prices, when this 50ma or 200 MA are in decline I will look for negative movement.   Of course if we keep sideways or rising this may never happen.