BTC rally has paused

[thecodebear]

On Coinbase Pro Bitcoin hit $8988 a few minutes ago, now it fell back to 8700s. Wouldn't be surprised to see it fall back to the previous resistance of high 7000s this week to touch back on that resistance/support zone. It might also push over 9000 today though. I sold my last bitcoin trade at 8930, now waiting for a drop back to mid-low 8000s or high 7000s to buy back in for next round of trades.

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[thecodebear]

This thread's title:  0

BTC rally:  1

But seriously...  Wtf is going on?  Is this finally it..?

I don't know what you mean by "it", but I mean I think this was fairly expected. It was pushing at resistance in the 7000s the past few days and it was either going to get rejected and head back to 7000 or break through it and do what Bitcoin normally does when it breaks though a resistance zone, shoot up, to well over 8000. It did that.

Now the question is where does it go from here? Keep pumping over 9k or even over 10k? Or correct back down to hit that previous resistance zone in the high 7000s. My guess would be, even if it pushes significantly higher today or in the next couple of days, it'll at least touch back under 8000. But overall outlook is bullish, I think May will see 9000s and 10,000s.

[exstasie]

But seriously...  Wtf is going on?  Is this finally it..?

Some old school BTC bulls I follow (like zoinky and dmwardjr) think we've entered the next parabolic bull cycle already.

I'm a bit more conservative, sticking with this scenario as my preferred one until proven otherwise:

Now the question is where does it go from here? Keep pumping over 9k or even over 10k? Or correct back down to hit that previous resistance zone in the high 7000s. My guess would be, even if it pushes significantly higher today or in the next couple of days, it'll at least touch back under 8000. But overall outlook is bullish, I think May will see 9000s and 10,000s.

There's a couple ways the triangle idea could play out:

• We could see a shorter term (3-6 weeks maybe) bearish correction off $9K-$9,300 and then consolidate down to the $6K-$7K zone, before rallying to $10K-$11K to complete Wave (d).
• The market could simply complete Wave (d) now into the halving, before experiencing a mid-term (multi-month) bearish correction.

BTC and the stock market are still moving in lockstep, so they will likely reverse together too.

[milewilda]

After some great performance over past week BTCs rally has stopped which means it is struggling to go over $7.8, while most of the analyst revealed the price will reach till 10k if the rally continues like.

The resistance looks like the value may go till 8k or it will drop under 7k, however we have to hold our assets and wait for few more days.
https://www.coindesk.com/bitcoin-rally-pauses-near-7-8k-after-longest-winning-run-in-8-months

And it did break resistance yet we are almost hitting 9k price at the moment and these kind of movement behavior is just really a random thing.
Im not really into those analyst or what so called predictions by other people yet a simple technical analysis would already tell you on possible
paths on price might able to go it might not be precise but at least we do have our own basis rather.I dont know what you mean about pause
because price can tank from time to time and the next movement will really be in a matter of time.

[tbterryboy]

What kind of "pausing" is this? Right now the price is over $8.8k, how the hell is that any pausing? I would understand the OP a bit because he wrote literally at the start of the rally so maybe he just didn't checked the prices before he wrote, but right now we are literally at the midway section of a rally, how the hell did none of you checked what the price is and wrote without checking it?

Bitcoin is doing fine, it would probably even go higher because there is no resistance that is closeby, which means bitcoin price realistically go over $10k as well, just has to push a bit harder but it is definitely easier compared to us going from 6.9k levels to 7.7k levels, that was harder than going above $9k from here on out. Hopefully some of you may check the price and be happy.

[shoreno]

What kind of "pausing" is this? Right now the price is over $8.8k, how the hell is that any pausing? ......
.......

there is no such thing as paused but btc never stops moving  . it could be higher and if not then it would be decreasing   .  the price did not pause earlier but it did fell down   . the rally was disrupted there but i believe the price can recover again and continue to break the 10k usd levels   .  i did check the price or my btc wallet and im happy with it despite of the recent drop    . that would be better than no increase at all  . atleast we can still somehow sell with some extra profit

[freedomgo]

What would expect, bitcoin to pump until it reach its ATH? That is not healthy, it needs time to reach that far so that movement will not be called just a FOMO again. Bitcoin touched $9K already before it fall, that's big enough, and in fact bitcoin again touched $9k now, and let's hope this will bring another uptrend.

[Janation]

It did surpassed the price of $7K and right now conquering $8K and might reach $9K this week.

I think it would reach $9K this week, I don't know what is happening but I think people are acknowledging the presence of having and its future effects in the price of Bitcoin. It is also said to might have a correction before the halving but the price is continuously going upwards, and I think that might continue at the gate of $10K.

[Lucius]

What would expect, bitcoin to pump until it reach its ATH?

And what else will those who experience BTC as a pump/dump scheme expect? They obviously expect the price to go up by $1000 every day, and that it will be repeated every day until it reaches their imaginary price. What they completely overlook is the fact that price is a product of supply and demand, and that some people sell while others buy.

It did surpassed the price of $7K and right now conquering $8K and might reach $9K this week.
I think it would reach $9K this week

Looks like you didn't actually wake up, and you certainly haven't looked at any price data these days. I see on some exchanges $9500+ yesterday, and even today price is very close to this level.


https://coinmarketcap.com/currencies/bitcoin/historical-data/

[DevilSlayer]

The longer the consolidation, the higher the rally or the parabolic move that may happen. It is good to see that the price of the bitcoin manage to breakout in a dynamic resistance which is the 100 MA that also indicating a major resistance. As long as the price stay above the 100 MA we should expect that it is a sign of bullish and there will be a continuation.

[BrewMaster]

what many people don't realize or maybe they have forgotten is that price was already on the rise and price was above $10k before the world economy started falling apart and caused a lot of fear that led to bitcoin also dropping.
so all those who say they are surprised about this current price should really take another look at the charts before COVID-19 and see where we were. it is not even that long ago.

[monineklutak]

After some great performance over past week BTCs rally has stopped which means it is struggling to go over $7.8, while most of the analyst revealed the price will reach till 10k if the rally continues like.

The resistance looks like the value may go till 8k or it will drop under 7k, however we have to hold our assets and wait for few more days.
https://www.coindesk.com/bitcoin-rally-pauses-near-7-8k-after-longest-winning-run-in-8-months

Have you already bought Bitcoin when at $ 7,000? if you buy it, of course you can feel the benefits now, an increase of $ 2000 will make you get a lot of money with just 1 day, hopefully resistance at $ 8900 can be passed, because the current tren line resistance is there

[Naida_BR]

After some great performance over past week BTCs rally has stopped which means it is struggling to go over $7.8, while most of the analyst revealed the price will reach till 10k if the rally continues like.

The resistance looks like the value may go till 8k or it will drop under 7k, however we have to hold our assets and wait for few more days.
https://www.coindesk.com/bitcoin-rally-pauses-near-7-8k-after-longest-winning-run-in-8-months

I thought that Bitcoin is not going to go close to 9k - not even so fast.
However, the resistance of 8k was broken and it reached this level. Now, it is nearly 9k - there is a lot of resistance at this level, already 2 days and we are on 8.8k but as the halving event is coming I think that the price is going to go a little more higher.

[okala]

After some great performance over past week BTCs rally has stopped which means it is struggling to go over $7.8, while most of the analyst revealed the price will reach till 10k if the rally continues like.

The resistance looks like the value may go till 8k or it will drop under 7k, however we have to hold our assets and wait for few more days.
https://www.coindesk.com/bitcoin-rally-pauses-near-7-8k-after-longest-winning-run-in-8-months

There is need for bitcoin to retest the 200ma on a daily chart before the next pull run. Currently the 200ma is now above 9000 dollars and therefore your forecast may not be out of place. The pullback is going to have short life as bitcoin is going to get above $10,000 before halving.

[maydna]

After some great performance over past week BTCs rally has stopped which means it is struggling to go over $7.8, while most of the analyst revealed the price will reach till 10k if the rally continues like.

The resistance looks like the value may go till 8k or it will drop under 7k, however we have to hold our assets and wait for few more days.
https://www.coindesk.com/bitcoin-rally-pauses-near-7-8k-after-longest-winning-run-in-8-months

There is need for bitcoin to retest the 200ma on a daily chart before the next pull run. Currently the 200ma is now above 9000 dollars and therefore your forecast may not be out of place. The pullback is going to have short life as bitcoin is going to get above $10,000 before halving.

Bitcoin is going to increase, and there is a big chance to hit $9k again. Hopefully, the price can jump higher as right now, the price traded at $8,953, and it still going to go up to the higher price. There is a war between the buy order and the sell order, but the trend wants to go up, and I hope that what we expect can happen in the next few hours.

If the price can be back to $9k, then I think that can give more chance to continues to go up, and perhaps, the price will reach $9,100-$9,200. Well, it's a big moment for bitcoin to go up again after the price is at a low price. I am sure that many people are waiting for another high price to sell their bitcoin.

[Yaunfitda]

After some great performance over past week BTCs rally has stopped which means it is struggling to go over $7.8, while most of the analyst revealed the price will reach till 10k if the rally continues like.

The resistance looks like the value may go till 8k or it will drop under 7k, however we have to hold our assets and wait for few more days.
https://www.coindesk.com/bitcoin-rally-pauses-near-7-8k-after-longest-winning-run-in-8-months

There is need for bitcoin to retest the 200ma on a daily chart before the next pull run. Currently the 200ma is now above 9000 dollars and therefore your forecast may not be out of place. The pullback is going to have short life as bitcoin is going to get above $10,000 before halving.

Bitcoin is going to increase, and there is a big chance to hit $9k again. Hopefully, the price can jump higher as right now, the price traded at $8,953, and it still going to go up to the higher price. There is a war between the buy order and the sell order, but the trend wants to go up, and I hope that what we expect can happen in the next few hours.

If the price can be back to $9k, then I think that can give more chance to continues to go up, and perhaps, the price will reach $9,100-$9,200. Well, it's a big moment for bitcoin to go up again after the price is at a low price. I am sure that many people are waiting for another high price to sell their bitcoin.

Not the best time to sell bitcoin pre or post halving until it reaches five digits in my opinion, we are entering bullish cycle, we should hodl in my opinion.

Just imagine you selling after the halving in 2016 and then eventually at the end of 2017 it reaches all-time-high? Someone will regret their decision if they sell even at $10k when we reach before and after halving.

[carlfebz2]

After some great performance over past week BTCs rally has stopped which means it is struggling to go over $7.8, while most of the analyst revealed the price will reach till 10k if the rally continues like.

The resistance looks like the value may go till 8k or it will drop under 7k, however we have to hold our assets and wait for few more days.
https://www.coindesk.com/bitcoin-rally-pauses-near-7-8k-after-longest-winning-run-in-8-months

There is need for bitcoin to retest the 200ma on a daily chart before the next pull run. Currently the 200ma is now above 9000 dollars and therefore your forecast may not be out of place. The pullback is going to have short life as bitcoin is going to get above $10,000 before halving.

Bitcoin is going to increase, and there is a big chance to hit $9k again. Hopefully, the price can jump higher as right now, the price traded at $8,953, and it still going to go up to the higher price. There is a war between the buy order and the sell order, but the trend wants to go up, and I hope that what we expect can happen in the next few hours.

If the price can be back to $9k, then I think that can give more chance to continues to go up, and perhaps, the price will reach $9,100-$9,200. Well, it's a big moment for bitcoin to go up again after the price is at a low price. I am sure that many people are waiting for another high price to sell their bitcoin.

Not the best time to sell bitcoin pre or post halving until it reaches five digits in my opinion, we are entering bullish cycle, we should hodl in my opinion.

Just imagine you selling after the halving in 2016 and then eventually at the end of 2017 it reaches all-time-high? Someone will regret their decision if they sell even at $10k when we reach before and after halving.

Realistic goal compared to those fellas who do keep speculating the price would reach up 20,XXX+ or even more digits before they would sell out but to think that to those people whom do able to buyback on 8400 price are definitely making money as of this moment which we are already on 9k point.This do pertain or talk for short/active traders out there. Selling out will vary if you are going for long term or just short term,
if you do see greens or positive then its isnt bad to consider on selling out for profits.The main important thing is to utilize upcoming events of sentiments for you to place a position that will potentially
benefit you out.

[Ridwan Fauzi]

What would expect, bitcoin to pump until it reach its ATH? That is not healthy, it needs time to reach that far so that movement will not be called just a FOMO again. Bitcoin touched $9K already before it fall, that's big enough, and in fact bitcoin again touched $9k now, and let's hope this will bring another uptrend.

I guess $8900 is strong support for bitcoin, we will see its price going to increase again soon, technically will be like that. But we have to realize that the important thing to make bitcoin price increase is not pure about technical analyst more than that we have fundamental analyst which I think that is really affectinf to bitcoin price movement. Negative news are spreading we will see the rapid dump comes and otherwise when we a good news is spreading. Until now, we haven't seen those things and you are right it may needs time because bitcoin is not a megical thing.

[Slow death]

After some great performance over past week BTCs rally has stopped which means it is struggling to go over $7.8

I looked at this event as follows:

imagine that there is a very weak fire, you want the fire to be too strong to be able to see better, but you have little wood and you would not be able to make the fire strong, so you hope there are more people who have wood and then you fire your wood at the campfire and when other people who have firewood see that the fire is getting stronger they will throw more wood so that the fire gets stronger and everyone can see better, that's what happened with bitcoin

while most of the analyst revealed the price will reach till 10k if the rally continues like.

these analysts always fail. when they say the price will reach $10,000 then be prepared because the price will go down, when they say the price will go down a lot, so be prepared that the price will go up a lot

The resistance looks like the value may go till 8k or it will drop under 7k, however we have to hold our assets and wait for few more days.

current price: $8900

[peter0425]

After some great performance over past week BTCs rally has stopped which means it is struggling to go over $7.8, while most of the analyst revealed the price will reach till 10k if the rally continues like.

The resistance looks like the value may go till 8k or it will drop under 7k, however we have to hold our assets and wait for few more days.
https://www.coindesk.com/bitcoin-rally-pauses-near-7-8k-after-longest-winning-run-in-8-months

days after your post Bitcoin rallied almost 10k$ mate but suddenly stopped at 9,5004 again but at least more higher than days before.

i guess we will see another hype before the second week of May because thats the expected day of Halving and the expectorant are looking at this days forward.