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[eskider]

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[AB de Royse777]

If you are a long time holder then it's 1 BTC = 1 BTC :-D

Anyway, I think it does not matter if it breaks $9,270 and fall all the way to below $4k or see a new ATH as long as you are not a short time trader.

Here is a weekly chart and I do not see any immediate danger yet.

[Juggy777]

In the last 24 hours, the price of Bitcoin attempted to break below $9,270 in a rapid sell-off from $9,400 to $9,240. Immediately after it hit $9,240, BTC bounced strongly to as high as $9,450.

What’s next if bitcoin breaks $9,270 ?

https://cointelegraph.com/news/bitcoin-bears-struggle-at-the-9-270-support-what-happens-if-it-breaks

If you are a long time holder then it's 1 BTC = 1 BTC :-D

Anyway, I think it does not matter if it breaks $9,270 and fall all the way to below $4k or see a new ATH as long as you are not a short time trader.

Here is a weekly chart and I do not see any immediate danger yet.

@eskider first of all this thread belongs in the speculation section so I would recommend you to move it there, secondly a drop of $200 is not a major reason for us to worry, as we have seen drops of $1000 and yet we haven’t sold our coins.

@Royse777 you’re absolutely correct that if one buys bitcoins then they should hodl it for the long term, and further they should not be effected by the short term fluctuations happening in the crypto market.

Source:

https://www.forbes.com/sites/oluwaseunadeyanju/2020/05/11/bitcoin-halving-unlikely-to-drive-btc-price-higher-in-the-short-term/#623f74595bf0

[pooya87]

the same thing that has been for the past month or more.

price goes up to $10k then comes back down to $9k then goes back up to $10k again to rinse and repeat. sometimes the weaker hands get overly excited and price goes outside of these bounds (a little higher or a little lower) for a little while but it comes back inside the range again.

[Yaunfitda]

The bounce back from $9200-$9500 was the trickle effect of this news, Stock market recovers after Fed announces it will buy corporate bonds, maybe it was just a coincidence, but I do believed that it has affected crypto market positively that's why we have a recovery. But after that the price is neither bullish nor bearish. So obviously, if there will be a break-out run? hard to see where it goes. It could go on another fake out to 5 digits or go down to $8800'ish levels.

[Coin_trader]

It's still too early to predict what's gonna happened next about BTC. The 9270$ support is not that strong and also the selling power was weak too as you can on the volume during that particular timeframe. This volume will become more thinner and the next strong move will be the deciding factor to determine the current trend. If we look on the graph with a daily time frame interval, It looks like the bulls are really exhausted and can't break the 10K barrier.

I'm a daily trader so my observation is for a short period of time. If you are a long term holder then worry no more. BTC will increase price overtime. Currently, I'm very bearish right now.

[Cnut237]

What’s next if bitcoin breaks $9,270 ?

It means nothing. Crypto prices at the moment are heavily influenced by what is happening in the wider world. We saw that huge drop once the CV19 took hold, then a bit of a recovery... and since then crypto prices have fluctuated depending on economic results and predictions, and government actions such as the huge stimulus packages.
Maybe $10k is still a bit of a psychological barrier, but really I think the most important factor is that world economies are in chaos, and we can't realistically expect bitcoin to be immune to that.

[Upgrade00]

Not every figure is significant in the price movements of Bitcoin, $9,270 is not a support level as yet, the price has bee hovering within the $9k range, once going above $10k but without sufficient support levels it dropped back down, same way we have gone below $9k but the support levels were higher now in comparison and we bounced right back.

The drops is trading volume is keeping me on the bearish side and except we build up some volume over the next few weeks we could remain within the $9-10k cycle, or maybe it drops lower, I however don't expect us to go below $8k.

[Leo]

Bitcoin will move on to $9450 after $9200+ base on my technical analysis, before we break $10500 it's going to take a while because it's a huge resistance up there, we might be ranging in $9400- $9500 before we see a $1k jump in bitcoin price, this is just my opinion and not a financial advice

[Karartma1]

the same thing that has been for the past month or more.

price goes up to $10k then comes back down to $9k then goes back up to $10k again to rinse and repeat. sometimes the weaker hands get overly excited and price goes outside of these bounds (a little higher or a little lower) for a little while but it comes back inside the range again.

Excellent explanation! I would add that a few Bart Simpson movements might happen here and there. This is it at the moment, good time to accumulate again within the 9k range. As for the rest, hold them.

[Oasisman]

~snip~

Excellent explanation! I would add that a few Bart Simpson movements might happen here and there. This is it at the moment, good time to accumulate again within the 9k range. As for the rest, hold them.

I don't consider $9,000 as good figure for accumulation, I might be a bit greedy but I would rather find a lower figure than $9,000  , maybe around the region of $8,000, for long term purposes. Though, If you're up for short trading, then I might say it's a good range.

Anyway, the price movement doesn't seem to be worth of worrying, as it has been moving up and down inside the $9,000 - $9,900 region. And the drop seems normal these past few weeks. It feels like there's something that's depriving Bitcoin to break loose of the resistance level. I'm not sure, but maybe the pandemic is one of the few reason.

[STT]

Goes back to the 200 day average, right this moment its on the 50 day and held back by this area and even the MA itself because of the amount of traders we have within the BTC price.



I would already guess it is going to test lower but every push past lower just leaves it to bounce upwards and leave a candle with an icicle hanging off the 50MA but quite useless once it returns back above again.   MA isnt proper support or resistance so far as I know.
Objective down first is 8696, prior trend low since April

[buwaytress]

the same thing that has been for the past month or more.

price goes up to $10k then comes back down to $9k then goes back up to $10k again to rinse and repeat. sometimes the weaker hands get overly excited and price goes outside of these bounds (a little higher or a little lower) for a little while but it comes back inside the range again.

Feels even longer than that for some reason. And in my gut and psychologically, it feels like we're in this range repeatedly (minus all the fuss above 10k and below 8k). Quite a bit of shaking up macro wise too and it feels like a lot of gathering money waiting to pour in (or out).

I'm wondering if the 2018/19 purged weak hands are coming back to play though.

[ethereumhunter]

I am fine with that, even if the price goes down below $9,200 or $9k. That would be the best time to buy more bitcoin because I think I will not have a big chance to buy bitcoin at that price. But bitcoin price is now trying to break $9,400 although it seems, the price has difficulty to break, but I am sure that if the trend is up, that price will be a break, and maybe we will increase so high. While the price is not going anywhere, I think we need to break for a while and rest from the market.

[el kaka22]

Well, I do not believe these resistance numbers to be that strong to begin with. I believe it could go to $9k, and just stay there and come back up and move around freely like there is no resistance or support levels. At the end of the day bitcoin is too powerful to let it be controlled by those type of numbers and it can do whatever it wants whenever you decide to sell or buy.

Yeah, not you particularly but when you collectively get together and do something. That is why I feel like there is a reason why bitcoin never really stopped when going super high or low, from $10k to $3k it took few hours during pandemic, just few hours, and bounced back over $5k as well, in about 8 hours it did all of that. That is why I believe there is really no reason to believe in these support or resistance numbers.

[bitbunnny]

I am fine with that, even if the price goes down below $9,200 or $9k. That would be the best time to buy more bitcoin because I think I will not have a big chance to buy bitcoin at that price. But bitcoin price is now trying to break $9,400 although it seems, the price has difficulty to break, but I am sure that if the trend is up, that price will be a break, and maybe we will increase so high. While the price is not going anywhere, I think we need to break for a while and rest from the market.

I can agree that every dip is opportunity to buy more Bitcoins. Although I don't think that anyone would like to see Bitcoin price too low.
At this moment no one can really tell what will happen next with the price. It's possible that it goes below 9200$ or even 9000$ but I don't look at that as some big tragedy, it wouldn't be such a deep dump. However, I don't expect to see price below 9000$-at this moment.

[gentlemand]

I can easily see a return to 6-7-8 grand again. We're in no man's land just like the aftermath of previous halvings. There's not much on the horizon and there's still that world falling apart thing that hasn't fully hit yet. Everyone should go practice their backhand and pay attention next year.

[exstasie]

I can easily see a return to 6-7-8 grand again. We're in no man's land just like the aftermath of previous halvings. There's not much on the horizon and there's still that world falling apart thing that hasn't fully hit yet. Everyone should go practice their backhand and pay attention next year.

I agree. In general it seems like too many people think this range is a given, and that the $9K area is sure to hold.

BTC is completely at the whims of the stock market. When stocks dump, so does BTC. When they recover, so does BTC. This Friday close in futures, wicking through the 20-day MA and failing, is ominous looking:



If Monday's low is broken, I expect BTC to follow with new lows. This will likely trigger a break of the $8,600 weekly low which I think will cause a big downside stop run.

[Kelvinid]

It is somewhere to go which nobody knows exactly but I feel it never drops below $9k instead of blowing it back high again and soaring to $10k. The trend is somewhat pushing a little bit dump but after this, a huge pump comes next.
We don't need to worry about this downtrend, things that can't be avoided and it certainly will come that way quite sometimes.
I know people are also waiting for the market to dump, so this will be their chance to invest.

[Republikcoin.com]

after the decline, the price of bitcoin is stable at $ 9300. I also think that if there is a decrease in the aftershock, the range will last at $ 9,000, or $ 9100. however, if there is an increase, it will survive at $ 9450 or $ 9500. so far, I predict that the next move will be price increases.