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bitgolden
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May 31, 2020, 04:29:14 PM
 #21

We do not have the momentum right now to be 12k or 15k, it looks like price stabilized a bit right now and not doing anything, which means we are going to have harder time to go too high, but what we can achieve is get that momentum, if we can get the momentum the price point of 12k is not too far out for us.

We could do it by first going above 10k, it is very close right now and wouldn't take too much money, when we move above 10k people will realize we are on another bull run and they will get in too, and the sellers will realize they could remove their orders and put it on 12k to sell for higher as well which will make it going there easier. It is not rocket science, we could do it, but it is going to get that first initial increase which requires a ton of money to start, rest is easy.

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May 31, 2020, 06:53:01 PM
 #22

Bitcoin (BTC) price continues to inch closer to $10,000, rallying 5.68% to reach $9,600 on May 28.

The Crypto Fear and Greed Index shows that within the last two weeks traders’ sentiment has shifted from ‘fear’ to ‘neutral’.

The daily chart shows that Bitcoin price has pushed above the lower trendline of the former ascending channel and the price is meeting some resistance at the VPVR high volume node at $9,675.

So what's next for Bitcoin? How do you think?

Quote
The next rather for bitcoin is reaching $10k and it it reaches this mark and also holds this price for some time without going back to $9k levels, then we can say that the resistance has been broken successfully and now we are heading towards moon. This price range in which bitcoins is currently present is very critical for the upcoming months of bitcoins, if bitcoins looses grip then we can surely see $5k to$7k range again.

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May 31, 2020, 11:12:14 PM
 #23

We know the answer, it's volatility makes bitcoin very unpredictable, if we see it pumped and break the $10k resistance, it doesn't mean it will continue to skyrocket, it could still dump and then the hype will be gone. Therefore, just be ready in any situation and make sure you benefit on the price volatility of bitcoin, we have pass the bull run and that time it wakens up the mind of the people and draw some doubts to them, so they will not just easily get FOMOd even if bitcoin will have a significant increase.

As I was saying, be ready and try to benefit on its volatility by learning short term trading.

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May 31, 2020, 11:23:06 PM
Last edit: June 12, 2023, 03:09:54 AM by STT
 #24

This could be the price topping out but I'm waiting to see where the low for this first 12 hours of 1st June is going to close.  I guess it wont do anything dramatic but could be a bias downwards for this moment, needs to break a trend to move more then a little.



Price below 2 day average, lets get a low close below the 28th low to see more then that.

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Swordsoffreedom
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May 31, 2020, 11:58:27 PM
Last edit: June 01, 2020, 12:22:26 AM by Swordsoffreedom
 #25

A reset is required for further bullish movement, now we are in a bullish market and we need a correction period cause to accumulate a new higher price we must need to break the downtrend line first, If we can't break the downtrend line, the price can't go above 10,000


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