Topic: Bitcoin support levels (Read 430 times)

Of course, I have not yet learned to analyze everything that is happening on the cryptocurrency market in full and therefore I use certain resources to obtain additional information.  Thus, according to the analysis of BITSTAMP, the Bitcoin price chart shows an increasing trend in the Global Triangle, which indicates that bitcoin can reach the next Highs in April 2020.  If this happens really, then from today we should expect positive results in the cryptocurrency market.

Yesterday there was a new attempt by the bears to make the price to go down and the bulls gave them no chance and now we are moving between 7200 and 7300, it is possible we are already experimenting the effects of the halving since that was too quick and it is possible investors are already taking their positions to the expected positive movement the halving could bring, but if that does not happen then get prepared as the price will most likely begin to go down once again.

Its always a measure of momentum vs these ideas of resistance and support.   People dont have to turn up just because a number appears, its just the idea of the market having a memory.   I try not to carve anything into stone when I remember BTC isnt one nation, its the many collected currencies of the entire globe and every person sees the price in their own currency to some extent not just Dollar.
   This is part of the mistake of those who keep writing off Bitcoin as if its nothing, great for them in their riches with multiple choices at their fingertips but many nations have no reliable currency and the people are distant from Dollar source, BTC is invaluable to some.  So for sure there are always buyers who need this project to succeed.   We can have a bull run at any time imo.
   Numbers matter but I want to keep track of momentum to have any accuracy.   Right now BTC is drifting, its been sideways for a while.  So I watch movement, does it cross this line and if so will it maintain that over days not just hours.



Here is the two day average in blue, its a very small short term measure but we have to be staying above that to consider accumulating into anything grander.   I do wonder as BTC might be breaking the trend since July but its quiet as a church mouse right now.

Absolutely, I might go for 5,500 but once you've lost 6k, it's just that much more of a psychological blow for it to simply rest at 5800. In fact, once 6k goes, and even 5,5k, I'd be expecting a full blown sub-5k effort to dip all the way down to 4k as I said above -- but only just to stop there. Again, psychology will prevent us going back to last year's low, that's fully in sync so far with your 200 MA, and while I don't believe in technicals, I believe in psychology and there's our convergence.

Right now the most important support level is that of $6700. It has enough volume for bulls to sustain in case it gets tested again. But if breached, price gonna go for a downward spiral and it will be a bloody day for the altcoins as well which are already testing their all time lows.
But Bitcoin has been successfully defending the support and looking for breaching the resistance of $7560. That if breached can take the price to $9000s.

In case of true support price ranges, I love to look at the yearly loves over the long term:

agree with you, I can assume the decline in market prices will not last long at the previous price, there is a possibility that there will be an increase in market prices, so as to be able to cause a slight increase in the first quarter of this year.

It's hard to think of the price stopping at $5800 when we get to dip under the $6000 level. I'm confident that it will be a quicky to low $5000's in case we do have more weak hands to shake out. The 200 weekly MA is a magnet and will be where I go balls deep one more time. Currently it's hovering just under $5100 and moving up week after week.

That being said, too many people aim at sub $6000 levels currently, which only makes it less likely to actually happen. Of course, dumb money can be right too just by luck, but in general, they are wrong far more often than right, and that makes me a tiny bit more bullish.

right now we are in 2020 where the best time has really come, we will really see where the whales are playing with all of us here, so I'm not sure about prices going down more than before, bitcoin will answer everyone's questions, what is this it's time to get a better price than last year, hope buy support will come soon waiting for them new people to come with money

The year 2019 has ended, when you see the lowest point throughout 2020. according to my analysis for the price of Bitcoin this January to February, the best level of support is around 5800 $. which is where I looked at my technical analysis, the $ 5800 price was the last support until the end of this month. I myself will buy it when the support is achieved.

We hope that Bitcoin market is better but it seems Bitcoin downtrend will continue.  Analyst may say that Bitcoin may rally because of some divergence forming but the fact that the chart looks like the downtrend will continue still remain.  I think for now we should be happy that Bitcoin is going sideways.

I’m still doubting on the support level of $5k since I believe we will not touch that price level again. This new year bitcoin will start to recover and there should be no major dumps because the bull will change the market for a better again. Bitcoin next support level when the market pump is around $10k, pretty higher compare last year.

That was exciting to see how the market change in the next couple of hours( that was the year 2020).
The price still stands above $7k ( thas was $7,100 at my post) but I couldn't find a big change in it. Not really sure but the resistance and support level will still stay the same until next early next year. The commencement of halving is only our hope to see a huge market change otherwise, we live the current price the same.

Few days ago it was $7,400 and I thought it will break $7,600 but it didn't happen, maybe in some exchanges. I'm waiting again for $6,500 - $6,800 levels to start buying and that will be my price indicator that I should although it's always the right time to buy if you're long but I have just set myself with those prices that I have mentioned.

$5,000 will be the support if it goes under $7,000? hmm.. I'm more convinced that it will be $6,000 - $6,500. Let's wait until the first day of 2020 if bitcoin will be pulled down below $7,000.

I don't see strong support in the $7,000s. The bounces off $6,400 and $6,500 had a lot of potential but bulls have been rejected hard below every pivot from November and December. Every high is a lower high, with nasty wicks to boot. The chart still indicates that we might be slow bleeding to lower lows.

Breaking above $7,700 with authority will paint a more optimistic picture. Bulls need to show a sign of strength before we can be confident the bottom is in.

Right now 7000$ look like a great support for bitcoin as its not falling beyond that price. We saw pumping at 6800$ that took bitcoin to 7500$. My prediction is if bitcoin fall beyond 7000$ then next support will be 5000$.

Difficult to say if touching the price of $ 6500 is too low and will not reach the suppord area like that, of course this is not my desire to reach the low price as mentioned, but I did not find a beaten bitcoin price going where it would be whether it would be more stable at current prices or will it be bullrun? Let's look tomorrow

And what do you think would the triple bottom rarity event suggest, if it does happen? Simply a delay in the 6k support test or an unwillingness from the buyers to relent on current support so soon into the new year?

Personally also am prepping for another 6k, then 5k, and maybe even 4k all the way till March before that end of q1 steam propels ahead for another unyielding ride to the top. And I'm only saying 4k cause every year, the low gets higher and I don't think we'll see a first time that trend bucks in 2020.

not long ago the price of bitcoin fell below $ 6400 and the price went up again, it seems like buying support at that price is very strong so it is not easily penetrated let alone go down below it too long, in my opinion at this time is the right time to trade, soon we welcome the year 2020 hopefully it will be even better

We don't get bad of the price will fall into $6,500 or even below. Though it is not the support we look for but we have nothing to do for this. May others have sold their Bitcoin as low price making the price fall and they are more than enough to drag the market. But it was not the end of Bitcoin.

I read this one it seems to enlighten us and to find the time to buy or sell https://www.tradingview.com/ideas/supportandresistance/