New Bitcoin support! Fall or rise?

[btc_angela]

Bitcoin did another correction and its going back from its current phase, it needs another correction before hitting $60k but I agree with it staying at a range of $55k to $50k and if it falls down below $50k then it will surely make a pump towards the $60k price ceiling and after that being broken then we could expect more.

Did you understand what you are saying here?

Bitcoin had already Drops below 50k yet there is no another breaking of 60,000 so when would that be? another downfall ?

You are joking right?

I do not think that it will have another correction under 50k anytime soon, but I do believe that it will go over 60k you are just rushing it. The options were "go over 60k or have another correction under 50k" and I think it was a quite blanket statement that covers everything. As long as it goes over 60k he is right, as long as it goes under 50k he is right, there is no way he could be wrong at this stage because that is the type of thing he wanted to say, whatever happens he will be right and will say "told you so" there are people like that.

It is basically saying "it will either go up or go down" and they just don't give a time so they are always right. I would say there is no under 50k anytime soon, and 60k will come in May for sure, that is what I believe. It is not just 60k+ neither, I believe a new ATH will come during May as well.

For this month, it's going to be somewhat a struggle to break $60k. The highest we really get is $59k and then it will fall again. But the likelihood o going under $50k though is remote for this month. We may see the price going on sideways for a couple of weeks.

Ethereum is surging and probably this has an effect on bitcoin's price. Nevertheless we should look for long term in bitcoin's market, maybe in the future, $60k or $70k will be the support line.

[Furious 7]

For this month, it's going to be somewhat a struggle to break $60k. The highest we really get is $59k and then it will fall again. But the likelihood o going under $50k though is remote for this month. We may see the price going on sideways for a couple of weeks.

Ethereum is surging and probably this has an effect on bitcoin's price. Nevertheless we should look for long term in bitcoin's market, maybe in the future, $60k or $70k will be the support line.

Bitcoin is still not able to hold above $60k it is still in a long correction where it has to go through several other challenges, I haven't even seen how this will be pumped up and this is just a habit of Ethereum which itself is still pumping but it makes sense that it will reverse it. We're seeing how the direction of bitcoin is actually the other line of support I think this will affect altcoins too.
It can still be looked forward to $57k is still said to hold quite stable and next month what happens with the correction or another pump.

[Fredomago]

For this month, it's going to be somewhat a struggle to break $60k. The highest we really get is $59k and then it will fall again. But the likelihood o going under $50k though is remote for this month. We may see the price going on sideways for a couple of weeks.

Ethereum is surging and probably this has an effect on bitcoin's price. Nevertheless we should look for long term in bitcoin's market, maybe in the future, $60k or $70k will be the support line.

That would be a much better barrier in hope that end of this year it will hit @100K, so far it's still bouncing and haven't got any real strong support.

We might see some correction if this another attempt moving upwards failed, I'm not seeing $50K though might be $54K and then bounce again.

Let see if what would it be after this month, strong hands always gained higher compensations. Best of luck holders.

[LUCKMCFLY]

Bitcoin has been sideways, price for the most part is $ 56k- $ 58k, bulls are very likely to have or make a good effort to test new price levels, supply may be increasing, at the moment If you stop increasing the offer, we can see BTC at $ 60k

From the technical point of view, Bitcoin (BTC) is trading sideways in the zone where most of the liquidity is focused. Until the main cryptocurrency continues trading above $57,000, the bullish scenario dominates over the bearish one. In this case, there are chances for BTC to come back to the resistance at $60,500 soon.

Source: https://u.today/btc-eth-xrp-and-ltc-price-analysis-for-may-10

[sarmrakib]

Bitcoin has been sideways, price for the most part is $ 56k- $ 58k, bulls are very likely to have or make a good effort to test new price levels, supply may be increasing, at the moment If you stop increasing the offer, we can see BTC at $ 60k

From the technical point of view, Bitcoin (BTC) is trading sideways in the zone where most of the liquidity is focused. Until the main cryptocurrency continues trading above $57,000, the bullish scenario dominates over the bearish one. In this case, there are chances for BTC to come back to the resistance at $60,500 soon.

Source: https://u.today/btc-eth-xrp-and-ltc-price-analysis-for-may-10

The analysis shows us clearly that it has strong support and a huge uptrend which is so strong than past. We can surely to touch 60k$ soon. I think the year is going bullish and it will be continue to over the year.

[rodskee]

In a meeting with my friends yesterday, we discussed the fact that Bitcoin has shown a decline that is unprecedented in recent months.
Yesterday we saw a price touch of $ 47,000 and today we had a good growth up to the range of $ 52,000 and I emphasize again that the main price range of Bitcoin will be at $ 44,000 and according to the market situation I will update this analysis but now the most support in The range will be $ 44,000.

It stays in the middle mate , either Fall or Rise there is still no sign , Look at the value

https://coinmarketcap.com/currencies/bitcoin/

Fell down to 47k recently then climbs up to 59k but now drops back to 55k , there is no concrete movement as of now and i think this has been the same scenario before the ATH breaks last year and this year.

So for me , this can be a big movement that awaits us all.

[wxa7115]

For this month, it's going to be somewhat a struggle to break $60k. The highest we really get is $59k and then it will fall again. But the likelihood o going under $50k though is remote for this month. We may see the price going on sideways for a couple of weeks.

Ethereum is surging and probably this has an effect on bitcoin's price. Nevertheless we should look for long term in bitcoin's market, maybe in the future, $60k or $70k will be the support line.

The altcoin market is without a doubt taking the spotlight out of bitcoin at the moment but it is something temporal, we know that sooner or later a great deal of that money is going to return to the market as the bitcoin bull run begins charging forward once again.

I just wonder how long is this process going to take because as we know most people are interested in this market only for the profits they can make and if the altcoin market keeps showing a great performance then many of those investors are not going to be interested at all on investing in bitcoin if they can obtain more profits with those coins.

[iram3130]

The bitcoin dominance in the market is continuously dropping as ETH is peaking new All-time Highs every day. It looks like more and more BTC is going into ETH and alts as the community is feeling stronger with altcoins. Bitcoin is not going below certain levels which means that there are investors who want to buy the dip. If BTC makes a move now in the upward direction then alts will definitely bleed hard.

[Kelvinid]

The bitcoin dominance in the market is continuously dropping as ETH is peaking new All-time Highs every day. It looks like more and more BTC is going into ETH and alts as the community is feeling stronger with altcoins. Bitcoin is not going below certain levels which means that there are investors who want to buy the dip. If BTC makes a move now in the upward direction then alts will definitely bleed hard.

BTC will down, then altcoin going up, and maybe it could be a different scenario we will see in the coming days. It has to question if that could be sustainable and how long it will stay like that. Because as I know that the majority loves Bitcoin and they will invest more in BTC than altcoins. And with that instance, it gonna be a short span for an altcoin to seeing like that as sooner BTC will dominate the market once again.

[LUCKMCFLY]

Now Bitcoin has entered an eventual uncertainty, we already had everything clear with Elon Musk's tweet that has caused the price of BTC to drop by 10%, however many traders, market speculators and investors are promoting and defending the price , but there is another event that can cause the price to drop a bit more and it is:


Bitcoin drops to $46K, altcoins sell off as report claims Binance is under investigation

While the investigation is unconfirmed at this moment, as the news broke, Bitcoin's price quickly dropped by more than $3,000 and currently trades at $47,300.

Source: https://cointelegraph.com/news/bitcoin-drops-to-46k-altcoins-sell-off-as-report-claims-binance-is-under-investigation

In conclusion, today has not been a good day for BTC, maybe for the bears, but the market is always unpredictable, now it is best to do more Hodl than ever.

[mrjoy15]

The bitcoin dominance in the market is continuously dropping as ETH is peaking new All-time Highs every day. It looks like more and more BTC is going into ETH and alts as the community is feeling stronger with altcoins. Bitcoin is not going below certain levels which means that there are investors who want to buy the dip. If BTC makes a move now in the upward direction then alts will definitely bleed hard.

Forget Elon Musk. Plenty of individuals, institution will buy in Bitcoin at certain level. BTC want slow move, but definitely it will back up in course of time and those those people will be kicking themselves for not buying on the low. Let's make it simple, purchase more Ether and level up Bitcoin. Simple as that...

[STT]

I was looking at 50 day and 200 day averages for a long time, there are shorter time frame ones then that but its just trading.  Price being below 50 day does suggest we are more likely to go and meet 200 day at some point but it can take so long to occur that the 200 day isnt even that far below now.

I think we found some support in the Feb prices or in simple terms the 50k area has volume and acts as support.   Price action is now challenging 2 day average and many will try and trade this, it remains to be seen if we have wider long term questions to answer still.


This is a good chart for volume weighted averages, at the end of April YTD was about 45k so we've been very close to that

[Ridwan Fauzi]

Forget Elon Musk. Plenty of individuals, institution will buy in Bitcoin at certain level. BTC want slow move, but definitely it will back up in course of time and those those people will be kicking themselves for not buying on the low. Let's make it simple, purchase more Ether and level up Bitcoin. Simple as that...

In fact when you have money and have intention to investing ti bitcoin you will think a thousand of time to buy bitcoin at this sentiment market situation. Bitcoin price movement is really different to almost traditional investment like stock and etc. Its price can't be predicted easily moreover with Elon Musk decision against tesla at least it will give a bad perception for most crypto investor.

[molsewid]

The bitcoin dominance in the market is continuously dropping as ETH is peaking new All-time Highs every day. It looks like more and more BTC is going into ETH and alts as the community is feeling stronger with altcoins. Bitcoin is not going below certain levels which means that there are investors who want to buy the dip. If BTC makes a move now in the upward direction then alts will definitely bleed hard.

I've heard that ETH in the top currently. It makes sense that BTC are planning to go into ETH. It makes sense that ALT will going down if BTC gets higher. So I think it's best time for miners, traders, and investors to focus on ETH and BTC. This time is the best time to buy ETH and BTC because we weren't sure what will happen in the next days. So while they are in top, grab the opportunity before it gone.

[sana54210]

The bitcoin dominance in the market is continuously dropping as ETH is peaking new All-time Highs every day. It looks like more and more BTC is going into ETH and alts as the community is feeling stronger with altcoins. Bitcoin is not going below certain levels which means that there are investors who want to buy the dip. If BTC makes a move now in the upward direction then alts will definitely bleed hard.

Forget Elon Musk. Plenty of individuals, institution will buy in Bitcoin at certain level. BTC want slow move, but definitely it will back up in course of time and those those people will be kicking themselves for not buying on the low. Let's make it simple, purchase more Ether and level up Bitcoin. Simple as that...

We are not 100% sure about those corporations keep buying bitcoin. I know it sounds that way at first but the reality is that we are not doing that great at the moment. I would love to believe you and I would love to say that companies will buy bitcoin but the reality is that they are not looking like buying that much during this period neither.

We got spoiled with all those huge companies buying hundreds of millions even some of them buying over a billion dollars worth of bitcoin constantly and that made us super happy about it and we assumed that it will continue forever. However reality is that we are not seeing that type of purchases from companies these days which means that maybe they are not interested in buying anymore. They could still buy more in the future, but as of right now we are not seeing the buying we saw few months ago.

[wxa7115]

The bitcoin dominance in the market is continuously dropping as ETH is peaking new All-time Highs every day. It looks like more and more BTC is going into ETH and alts as the community is feeling stronger with altcoins. Bitcoin is not going below certain levels which means that there are investors who want to buy the dip. If BTC makes a move now in the upward direction then alts will definitely bleed hard.

And just when the altcoin market seemed to be taking control of the market it happened what it always happens, a significant crash happened as investors forgot that the most important coin of this market is bitcoin and it is the only one worth investing for the long term and they took unnecessary risks that the whales could capitalize om.

The whales have been playing a waiting game with retail investors and when they saw Elon generating FUD they seized the opportunity and crashed the market, now all of those people that invested in altcoins thinking they were smarter than the market lost so much money that it is fair to consider many of them will never recover the money they lost as they will get desperate and take even bigger risks to recover that money only to lose again when the coin in which they invest crashes even further or the developers perform an exit scam.