Bitcoin is back around the $80K mark again. Last time it hit this point, it really struggled. This level seems key.
Bitcoin Approaches the $80K Mark Again
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shard_2013Full Member
Posts: 268 · Reputation: 287
#2May 22, 2017, 09:58 PM
After I made my last post, Bitcoin touched $79,400... it went over $79K again but then dropped back. If it gets rejected again this week, that might just be the resistance we need to watch. Monthly charts suggest higher prices, but let's see where it goes.
maxi_matrixNewbie
Posts: 61 · Reputation: 11
#3May 24, 2017, 02:25 PM
As a regular here, I’ve been dcaing weekly too. If the price dips, I just convert some altcoins into BTC, especially those from airdrop campaigns. Bitcoin's a solid investment, but I still love my altcoins.
Honestly, we’re sitting at a critical spot between $79K and $80K. It’s the 50% Fibonacci level. If you check daily charts, $79K to $83K has been a common retracement zone, just like earlier this year.
nova_atlasMember
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#5May 24, 2017, 09:08 PM
I feel like we're either headed for sideways action or a pump soon. No way I'm taking profit here. Selling near the bottom after a dump just feels wrong. I'd rather hodl through any dips. And yeah, the geopolitical stuff does mess with prices.
Been there, done that with profit taking above $100K. Right now, I’m just waiting and buying a bit if I can. Those who keep an eye on the market aren’t making moves yet. Planning ahead is key, though I bet many will just watch BTC climb to $100K.
alexrocketNewbie
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#7May 25, 2017, 03:05 AM
Still waiting to see how things unfold. This month started off decent, but I doubt we’ll hit $80K in the first week. We’re close, but so far, attempts to break this area have only led to minor corrections. Hopefully, we can reach $80K soon.
We looked at the market through two lenses war impacts and overall conditions. So far, the market has been steady, which is good. If we hit $80K this month, that'd be awesome. A slow and steady climb is what we need.
satoshi_apeNewbie
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#9May 26, 2017, 03:07 PM
Listening to the market lately, it seems like a good strategy to buy around $78K and sell at $80K. The current conditions allow for that. Spot trading is my game buy low, sell high. Works pretty well when you know what you're doing.
It depends on when you bought. If you snagged at the lows recently, you could be making short-term profits now. But long-term players are eyeing profits from $90K and up. Bitcoin’s been holding steady below $80K for a while, just need to manage risks and wait for direction this month.
nick.orbitFull Member
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#11May 28, 2017, 09:16 AM
I can’t shake the feeling this might be a bullish trap. Many expected a higher price surge, but I see BTC reaching $150K and maybe even $300K if all goes well before Q3. It’s smart to hold tight and accumulate more without rushing to sell.
Resistance levels have been tested a bunch of times. I think BTC is really holding here, but we need more momentum. MSTR hasn’t bought any BTC this week, which isn’t good news for bullish investors. Plus, many people might sell at break-even points.
The price hasn’t shot up much lately just sideways movement overall. But it's still slightly up. Today, it’s hovering close to $80K. I’m curious where this week’s market opener pushes us.
It’s tricky to tell if this is a true recovery or a bull trap. It could be early for the biggest bearish moves of the year. Fingers crossed for higher highs by year-end.
What kind of analysis backs your Bitcoin predictions? Are you really sure it’ll hit $150K or $300K, not just a million? Honestly, I doubt it’ll hit $300K this year, but who knows? It seems super tough right now, but I really hope it does.
Bitcoin’s current price is about $80,200, and it's just the week's start. The big question is whether it can hold above $80K today. If it can, will it stay there for days? I'm not expecting a major jump soon, but anything can happen.
BTC is around $81,220 now. With its volatility, Bitcoin has made a strong range between $79,000 and $81,000. Personally, I'm holding onto my BTC since my investments were made at higher prices. Not selling now.
WildMatrixNewbie
Posts: 55 · Reputation: 22
#18May 31, 2017, 12:23 PM
Looks like it might test $85K again. But profits should really only be locked in beyond the $100K mark. If you're feeling anxious, you might sell at $90K. Always be ready to buy in on dips.
Daily and weekly charts hint at more bullish movement ahead, so don’t panic sell. Better to hold than to fear a dip. We broke that $70K resistance, and it’s been a steady increase since dipping down from $60K. Time to DCA!
CryptoHawkMember
Posts: 11 · Reputation: 186
#20May 31, 2017, 05:20 PM
You’re right that movements won’t be easy, so let’s not just assume BTC will hit $300K this year. Most analyses don’t support that. Just because some indicators show $150K doesn’t mean it’s a sure thing.