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Author Topic: The excitement is over, what's next?  (Read 816 times)
Botnake
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May 19, 2020, 01:23:45 PM
 #101

Still there is no clear sign whether the price will move upwards or in the downwards, it just keep dancing for now from $9300-$9800.

Hope it will clear the barrier of $10K resistance level soon.

 Grin Do you think that a situation is possible when there is a "clear" signal where the price will go? This is a market, and here there are a lot of completely different factors that cannot be predicted/calculated. And as you can see, the price was already above 10k and after that it just as easily dropped below this level of "support".

As I said still I don't get a signal whether the price will move up or down since it just hanging in the price region.I thought we will go back $8000 immediately after the halving but it is yet to happen so still waiting for the price movement in the coming week. Hope it will be a green signal. Smiley

Breaking the $10,000 resistance maybe a clear signal for you right? Since Bitcoin is struggling to break that figure base on the price movements from the past couple of days going back and forth from that specific range you've mentioned.
Still, the market remains unpredictable even If it will break the resistance or fall to a support level.

At least bitcoin did not dump, so I guess it's any time bitcoin could pump to $10,000 again because it was stable at over $9k range in the past few days. I did dump a bit after the halving, but look at the price now, what's the reason why it's still pushing uptrend, maybe we can consider that bitcoin is due for a rise post halving, but like you said, it's very unpredictable but let's just continue to believe as bitcoin is a kind of asset that always surprises us.

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May 20, 2020, 11:29:24 PM
 #102

We've lost the 2 day fast rush meta, its inevitable when it fails to pass the 10k like it has previously.    Now more importantly its challenging the whole positive phase and if failing could lead to a more serious set of selling then just the normal back and forth.  I'm willing to take a gamble its on a wider negative path if we can pass 9500, then 9200 prior action leading down to the most recent significant bottom which is 8000 or the 200 day average also now the 50 day.

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