Bitcoin around $80K level again

[tvplus006]

To be honest, we are currently in a critical zone between $79k and $80k because it is the 50% Fibonacci in the daily time frame, approaching the golden zone at 61.8%.
If you look at the daily time frame, the price range of $79k to $83k is usually where prices retrace, similar to the first quarter of this year. ..

Now it seems obvious that most traders expect the BTC price to correct from this level, as evidenced by negative funding on all exchanges. But in any case, I would not consider opening a long now, it is better to observe further movement from the side.

[BitMaxz]

Now it seems obvious that most traders expect the BTC price to correct from this level, as evidenced by negative funding on all exchanges. But in any case, I would not consider opening a long now, it is better to observe further movement from the side.

If the price falls below that level, it is most likely a manipulation, or no one is willing to sell. What I see here is that they are likely to squeeze the price further, which is still bullish because we are not against the trend going long still possible. It is also possible that the bias will persist until a new higher low is created, resulting in a breakout of the previous higher low.

[dwyane36]

If the price falls below that level, it is most likely a manipulation, or no one is willing to sell. What I see here is that they are likely to squeeze the price further, which is still bullish because we are not against the trend going long still possible. It is also possible that the bias will persist until a new higher low is created, resulting in a breakout of the previous higher low.

Well, on short-term charts, it’s clear that the BTC price has already attempted to break through resistance around $81.7k several times, but so far without success. I think that if the bulls are unable to break through this level in the near future, we should likely expect the bears to take the initiative and test the support level at $80k, attempting to break through it.

[Dave1]

If the price falls below that level, it is most likely a manipulation, or no one is willing to sell. What I see here is that they are likely to squeeze the price further, which is still bullish because we are not against the trend going long still possible. It is also possible that the bias will persist until a new higher low is created, resulting in a breakout of the previous higher low.

Well, on short-term charts, it’s clear that the BTC price has already attempted to break through resistance around $81.7k several times, but so far without success. I think that if the bulls are unable to break through this level in the near future, we should likely expect the bears to take the initiative and test the support level at $80k, attempting to break through it.

Yes, but it was a price that might be the resistance for now. Although at the start of the month, I thought that we wont seeing it breaking $80k and then maintaining it. But it's obvious that I'm wrong as my chart has been invalidated.

So let's see if we can finally break that and then go up to $82k. We all know that there could be resistance at some levels. But in the bulls push through then there is no barrier that can't be broken specially the sentiments are very positive.

[slaman29]

Now it seems obvious that most traders expect the BTC price to correct from this level, as evidenced by negative funding on all exchanges. But in any case, I would not consider opening a long now, it is better to observe further movement from the side.

Have to say I'm slightly surprised, would have expected quite a lot of traders taking medium term profit (those who bought at 70k are already enjoying 15% gains), unless these are all futures traders doing that. What would spots be waiting for, I wonder 30% or 90k seems a bit farfetched for now.

[LastKiss]

I’m not doing anything right now just holding some. I do feel happe to see Bitcoin break the $80k level because it can shift market sentiment. People who were waiting to buy around $40k may start wondering if it will even reach that level this year. Because of that, they might begin buying again on pullbacks in the $60k–$70k range. Bear market still here and rallies like this can happen during a Bear Market, it's just about taking opportunities when the market pump and dump.

[tvplus006]

Have to say I'm slightly surprised, would have expected quite a lot of traders taking medium term profit (those who bought at 70k are already enjoying 15% gains), unless these are all futures traders doing that. What would spots be waiting for, I wonder 30% or 90k seems a bit farfetched for now.

The price is currently testing the EMA200 level, which is a key resistance level. And it can be assumed that many traders will fix their profit at this price level, which will lead to a correction. But if this level is passed, the EMA200 will turn from a resistance level to a support level, and in this case, further price growth can be expected.

[BitMaxz]

Yes, but it was a price that might be the resistance for now. Although at the start of the month, I thought that we wont seeing it breaking $80k and then maintaining it. But it's obvious that I'm wrong as my chart has been invalidated.

So let's see if we can finally break that and then go up to $82k. We all know that there could be resistance at some levels. But in the bulls push through then there is no barrier that can't be broken specially the sentiments are very positive.

Currently, the price is under the golden zone, so trading here is risky unless the golden zone resistance is broken.
The current resistance for the golden zone is around $83k; if the price reaches $84k without a significant drop, it may continue to rise. I do not trade in these zones unless the price breaks the golden zone resistance or below the previous higher low. I only trade trending markets, but if it's approaching a retracement level, it's too risky to go long, so I'll wait for a breakout before entering long or short.

[Bd officer]

What are you guys doing at this level? Buying, waiting, or already took profit?

Today Bitcoin price was $82850 dollars it is a good opportunity for traders because those who bought $60-70k are in good profit.

Personally I feel good to see Bitcoin price increase. But on the other hand I also regret because I wanted to buy more in $60-65k range, I don't know if I will get this opportunity again. But I will continue to accumulate BTC using DCA strategy, and I don't plan to take profit at this time, because I will hold for the long term.

[Mpamaegbu]

These three rejections, in my opinion, indicate that the $80k zone has a strong wall that is difficult to breach. When you look at the volume on May 1st, the price spikes, but it is rejected for the third time.

A cursory look at the chart points to a weakened resistance already. I won't short Bitcoin at that level if I followed that chart. TA tells us that if price pierces a resistant point more than twice, it weakens it even if it doesn't break and close above it. If it keeps knocking there, it's time to get ready for a buy because price is more likely to break it than not break it. That's what I see in that chart. On the whole, until price breaks and closes above that 50% level and then retest it; it's advisable to wait.

[Pandorak]

The $80k price level is indeed a key threshold for Bitcoin, more specifically $79,500, where strong resistance acts as a barrier to further gains. With the breakout that has occurred, confirmation of the upward trend has become stronger and buyers are beginning to dominate. It’s possible that in the near future we’ll see Bitcoin reach $84k and it’s not out of the question that the next price target could be the $90k supply zone on the daily time frame.

What are you guys doing at this level? Buying, waiting, or already took profit?

I have no intention of selling, even if the price reaches $90k. One thing is certain, i will hold onto it until the next cycle, even if there is a sharper decline below the $60k level.

[yhiaali3]

There is no specific strategy here because it varies depending on each person’s situation. Whoever bought at a close price will watch and wait for further increases, and whoever bought at a low price will think about selling if they are not a long-term investor.

Personally, I think it's too early to take profits. Many investors bought at $120k before Bitcoin dropped to this level, so it's perfectly natural that they won't sell before Bitcoin reaches $150k.

[Jatiluhung]

Bitcoin is back near the $80K area again. Last time it struggled here, so this level still looks important.

Price held up quite well after the recent dip, which is a good sign. But at the same time, it hasn’t really broken this level yet, so I wouldn’t say it’s clear direction.

Personally I think we either get a clean break and move higher, or another rejection and some sideways movement again.

Not chasing here, just watching how price reacts !

What are you guys doing at this level? Buying, waiting, or already took profit?

Bitcoin has today successfully surpassed the $82,850 USD mark. And I think it’s very likely that Bitcoin could continue to rise to $85,000. Previously, I had also predicted that Bitcoin would successfully reach $80,000 again, because all traders monitoring the CME gap are surely aware that there is a gap in the $80,000 range that will inevitably be filled.
But we need to be cautious from here on out. Because typically, after the CME gap is filled, prices can drop again more rapidly within a few days.

Personally, I took advantage of Bitcoin’s upward momentum by buying several altcoins on the spot market that had previously hit all-time lows and hadn’t yet recovered. And today I’ve managed to secure some quick profits. I immediately closed the trade because I didn’t want to get greedy.

[Jegileman]

Bitcoin is back near the $80K area again. Last time it struggled here, so this level still looks important.

Price held up quite well after the recent dip, which is a good sign. But at the same time, it hasn’t really broken this level yet, so I wouldn’t say it’s clear direction.

Personally I think we either get a clean break and move higher, or another rejection and some sideways movement again.

Not chasing here, just watching how price reacts !

What are you guys doing at this level? Buying, waiting, or already took profit?

This is not a point for one to want to enter into the market, if one was preparing to invest, then they should hold on and not be moved by the recent pump in the market to decide that.

The market is looking very volatile and at the same time showing some bullish sentiment which may last long or just take a while before we see it dumping again.

Overall market trend is yet to turn into a bullish state yet, I still feel the market will retrace back even after breaking this level. Just like you, I’ll also observe the market for a while before I take any action on the market.

[serjent05]

What are you guys doing at this level? Buying, waiting, or already took profit?

Buying, since the Bitcoin price is still lower than its ATH, I still see the price as discounted.  It does not hurt to DCA as long as the price is still under the ATH range. 

We have seen the price of Bitcoin climbing little by little but I do not think that Bitcoin price will continue to surge, we might see some correction in the next days or if there is a strong support, a sideway movement until there is enough momentum and funds to break the upper resistance around ($87k).  If Bitcoin rallies and breaks $87k resistance, we might see Bitcoin in the $90k range again.

[Faisal2202]

Taking profit? I am not taking profit when I know bitcoin may get to $150000 when massive bull run begins.

You are doing the right thing. I am also not booking any profit at the moment because the profit might look very tasty haha, but this is how we can make even more by not selling now. If someone is holding BTC for the long term, they should never sell for a small profit. Selling now means we might be losing out on a 2x reward, and 2x is the smallest reward we can make.

While the chances are high that we can make more than 2x, many analysts have shared their analysis of the Bitcoin price and they think it could easily hit $200k in this bull run. If they are right, then that is an easy 3x to 4x. We should not think that is too low, because if we add more capital, our return is going to be big and we can gain a higher profit.

[The Cryptovator]

So far today Bitcoin broke $82K and is slowly dumping again. That means Bitcoin is struggling to stay above $80K, so we are still in a bear market. Unless there is any good news for Bitcoin, then likely we have to wait for quite longer to see another bull market and ATH. I am waiting for an Iran and US deal; if they come to a decision and if it's positive, then most probably we will see the beginning of another bull run.

Even during the war, Bitcoin showed its strength; there was not much dumping for the war. Whatever dumped it was due to war panic, and Bitcoin almost tried to stay stable for a few weeks. I am not going to take out my profits from Bitcoin; still, I have been accumulating through the DCA strategy. I will wait for another ATH; once it breaks, I will think about taking profits; otherwise, I will use stop losses.

[terrific]

I think most people don't do anything at all at this point.
Because the majority of us awaits on how high it will be from this point. While I see analysis that this is just a trap.
We don't know how low it can be. Just be open with the idea that it is highly volatile and the market moves a lot.
So from this point of $80k, could be down again from $60k or even lower somewhere $50k. No one knows.

[Asiska02]

I think most people don't do anything at all at this point.
Because the majority of us awaits on how high it will be from this point. While I see analysis that this is just a trap.
We don't know how low it can be. Just be open with the idea that it is highly volatile and the market moves a lot.
So from this point of $80k, could be down again from $60k or even lower somewhere $50k. No one knows.

It is actually better if no one knows and can’t tell for sure where the market will be headed from this point onward. The market is not looking to be bullish overall but the bullish market movement cannot be overlooked and we just have to keep watching and observing before taking any step further.

That was a resistance zone broken and the market does not look to want to continue the bullish move because of the huge rejection from that zone after even breaking it with full force. We have not see another retouch and break of the zone, but what we should still do at this critical time in the market is to observe and not come to a conclusion because of how volatile the market is.

[Webetcoins]

The $80k price level is indeed a key threshold for Bitcoin, more specifically $79,500, where strong resistance acts as a barrier to further gains. With the breakout that has occurred, confirmation of the upward trend has become stronger and buyers are beginning to dominate. It’s possible that in the near future we’ll see Bitcoin reach $84k and it’s not out of the question that the next price target could be the $90k supply zone on the daily time frame.

What are you guys doing at this level? Buying, waiting, or already took profit?

I have no intention of selling, even if the price reaches $90k. One thing is certain, i will hold onto it until the next cycle, even if there is a sharper decline below the $60k level.

We keep saying that for every price, but in reality market doesn't really care. Going above 100k, going under 100k, going under 70k, going above 70k, we faced them all, and we said that it was a big deal, and it just did it without even caring.

Reality is that if the market thinks that it should go up and it's more valuable now than it was yesterday then we go up and there is nothing wrong with that, and if we think that it's less valuable than we sell and that both works at the same time.