Does the price always trend towards all 5's

[mapsfly]

It seems like we are moving up and down but often trying to get back to $55,555.55

[Gozie51]

And what do you say to that level? Have you checked if there is a strong resistance or support around there so you can know exactly what is happening there. For me I think that is not a big issue but $60,000 is the range that price have not been sustaining.

[Kemarit]

It seems like we are moving up and down but often trying to get back to $55,555.55

We are trading sideways as of the moment, and maybe what you are seeing is the support line.

Although the price seems to jump to $57,000++ more today, so obviously, we have broken that support. But we will have to see if we can sustain this price or not to settle back to $55,000. There are a lot of factors that either push or pull the price, so if we have a break out run then $60,000 should be the next target for us.

[pooya87]

Round numbers have always been a psychological target for traders. You always see them place orders (buy or sell) at for example $100 not at $100.37 which makes these levels support or resistance depending on the ongoing trend.
But I don't see $55,555.55 having any significance here. Price has been going up and down but it passes that price right away, it is mostly hitting $58.5k level and comes down to $53.5k and then goes back up again which both happen to fall on two sides of $55.5k.
Speaking of round numbers, $60k is the current arbitrary resistance.

[Wexnident]

Sideways movement, probably why it just plays around that number since it's the middle ground currently. Nothing really odd, there are always middle grounds when it comes to sideways movement of the market, and you can probably use that to the test when to enter or not.

Honestly has nothing to do with the market movement. Hardly doubt that anything similar also has a relationship with how the price trend works.

[Poker Player]

What happens to OP is what happens to almost all of us at some point: we tend to see patterns where there are none. Or rather, we tend to build patterns that are often arbitrary, because patterns are not a reflection of reality, but a mental structure that we create to understand it.

It is funny that I use the term "always", as we are around $55,555.55 for the last two weeks or so. Let's wait a year, or five, to see if we are still "always" around $55,555.55.

[electronicash]

yezz there is going to be an extra $500 to give room for you to wiggle.
we are going to be in this 54-57k price seesaw but the altcoins are moving up really well we can see now altcoins extremely profitable. got to wear your tinfoil hat to see this coming that BTC may really be overpriced at $64K that is why it's going to be stuck in such a price range. yez! this is time for altcoins!

[passwordnow]

Not that seems.
Bitcoin always moves like that. You get to see that from day to day monitoring for its price action. What are you plans to keep it up as bitcoin stays on $50kish to $57kish?
And that price of $55,555, you probably have seen that in coincidence because it's volatile and leaves that price quickly.

[Yaunfitda]

It seems like we are moving up and down but often trying to get back to $55,555.55

No it's just a coincidence if you see a lot of 5's right now. And it's just numbers though, no need to be somewhat glued or think something with that. Obviously, as we are in the $50k'sh and maybe that's where you see the connection.

So what will happen if we hit $60k again? $66,666? 

[LogitechMouse]

It seems like we are moving up and down but often trying to get back to $55,555.55

What I only know is that the Psychological supports and Resistance that we are often seeing are those which are in a divisible of 5,000 such as $40,000, $45,000 and so on and so forth.
$55,555.55?? Sounds a good support or resistance for me but I don't think that there is a time where that price is either the support or resistance.

Well, if this will happen that this number will be a support or a resistance then I will visit this thread again and will tell that maybe we are in a trend of "all 5's". Will that happen?? Maybe but the chances are quite low . Now in terms of support and resistance, I see $60,000 as a strong resistance still and around $50,000 as a good support for short to mid term. Seems that we are in a sideways direction for now.

[Wilhelm]

Soon 1010101010.1010 

[Ararbermas]

It seems like we are moving up and down but often trying to get back to $55,555.55

bitcoin will always going back to the resistance no matter what are results in the market at this current ATH.. For now maybe there's a low trend reason the growth rate didn't even go far again..but i do believe this will surpass again before this month end in my view and base on its performance since after the highest value whrein it keeps making a high trend despite of the fluctuation.

[wiss19]

I don't see $55,555.55 having any significance here. Price has been going up and down but it passes that price right away, it is mostly hitting $58.5k level and comes down to $53.5k and then goes back up again which both happen to fall on two sides of $55.5k.

OP might have noticed that all 5s twice or more times which might have thought about something unusual is going on bitcoin markets. When bitcoin is trading in range bounds, we may need to see similar prices for more times which definitely not having any of significances on determining further movement of bitcoins hence we do not need to give any importance to it. Just another price levels and we can simply move on to upper resistance levels at any time soon.

[dothebeats]

It might have been a coincidence as we definitely moved past the said price point so fast. Also, price always gravitates towards numbers that are rounded, or that can easily be divided without any decimals or whatnot—though of course we can't really control it. These numerical figures that seem to form a pattern occurs quite a lot, and is being used as psychological signals by some traders even though they are just coincidences with little to no bearing to what's actually happening in the market.

[STT]

The ultimate end game, Bitcoin becomes like a slot machine all 5's is the best payout outcome     People allocate significance and that is a real phenomena in pricing, the most obvious being every 10k is a flat number with all the zeros and easy to enter into orders on an exchange and so on as well as registering in the brain as a major mile stone to step over.   Same reason we have many prices at $99.99 as if its any cheaper then 1 cent more

Its real but at the same time not important longer term.   Right this moment the price is orbiting around the 50 day average which happens to be very close to here, its not at a ceiling exactly as we've gone over but how I would view it is like a magnetized price, we both attract and repel from here until something bigger eclipses this area.

[Silberman]

It seems like we are moving up and down but often trying to get back to $55,555.55

Obviously not, we have only seen the current prices during this year and the 5555 level which is the previous level in which you could be interested was never of any significance, I suggest to you that you take the time to look at the history of the price of bitcoin before making such observations as it is obvious your views about the market are extremely limited due to the fact that you are relatively new to this forum, so I suggest you do this and read the forum to have a more accurate views about the market in general.

[Furious 7]

Do you think that 5.555 is a beautiful number?

It's true that other people say it's just a coincidence that happens but I almost every day see the market never see a definite lift maybe because it was overlooked and now it's only $ 56k it's just a little fluctuation and you don't let it be seen because bitcoin has to be bought at the current price. Here, look at Ethereum which is currently flying so it is not impossible that bitcoin in the next few days will be more than that, this is just my speculation and after seeing its previous history.

Observations do need to be done, what about the actions.

[el kaka22]

I believe it was in fives but in thousands of course. Like it reaches 5k then to 10k then 20k then reached 30k and 50k then 55k and so forth. All of these are levels of 5 and that is what happens, hell we almost peaked at 65k as well (64k and then some, nearly 65k) so I think it is quite obvious that it is levels of 5 that we go up or down. When it goes down it is usually around those levels as well.

But, if you want to make sure where it will drop or where it will go up, you can check out the charts and see that, there are support lines and resistance lines and usually those are the things that bitcoin move to, it can break down or above those but at least it will get there and stay there for a minute, you can use them as your guidelines when there is a movement in bitcoin. Those are usually not in 5 so you will have to be careful while using them.

[carlfebz2]

It seems like we are moving up and down but often trying to get back to $55,555.55

Get used to it because this market doesnt only shows always on upside movement or simply does break out resistances or does stay out on support basis.

We know basing on technicals we do have S&R and if we do keep on seeing 55k price point then this might be the strong support and the price doesnt tend to go below that point.

You shouldnt be surprised with these kind of situations because it is just common to see different numbers with this very speculative market.

[GreatArkansas]

What goes up, it also goes down. What goes down, is also going up. It's how the market work.

There are a lot of possible reasons why the market stays within those numbers or price levels.
Could be a price correction because of the recent run of Bitcoin. Or accumulation period that's why it's on sideways or we don't see any huge price action.