Can Bitcoin hold $6,075.04. | Bitcointalksearch.org

the1arty

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Quote from: jamesashmore1964 on June 13, 2018, 05:32:56 AM

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

To my current analysis, the key level is $6660 if we can close a daily candle above that, and got to roughly to $6900 that could be a potential big reverse of the trend. However, that is purely on my own analysis, not an advice

Kemarit

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Quote from: iram1011 on June 14, 2018, 05:03:58 AM

Bitcoin tested the long-term floor around $6000 which is right at the bottom of the descending triangle visible on longer-term time frames. I believe this jump of BTC to $6500 to be a temporary one. Bitcoin is making lower highs which means it is ready to test $5800 level, next. The 100 SMA is below the longer-term 200 SMA which means that Bitcoin is most likely to break lower support levels instead of going back again to $8000. Market is expected to see more bloodshed in coming weeks.

But most of the time, when everyone thought that bitcoin is going on this price level, suddenly it will go opposite. That's why as you would here people here, most of the time, TA is not that reliable but a good gauge to at least see where it could possibly go. As far as the OP's question. If it hit $6000 or below, then everyone should not whine about it, but look at this golden opportunity to stack up and fatten your wallets. Although is has somewhat increase to $6500, it is still quite cheap so everyone with extra funds out there can pour their money on the market and at least see gains that no other investments can give you in the next 6 months or so.

timerland

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First of all, that level is unlikely to hold due to the amount of selling pressure that is currently in the bitcoin markets. So I don't think that you should expect that price to hold up for long, and wait until that level is tested before accumulating.

The prices are already incredibly cheap compared to the ATH of last year and I think that we're gradually entering a period where the smart money is actually going to go towards buying bitcoin.

Saying that only if bitcoin can hold $6k as support, will it be a good long term buy isn't true. I think that it's much better to dollar cost average and start buying chunks at a time now, since prices are already so low. Plus, if bitcoin does dip below $6k, it literally just means that you're able to get better prices for BTC.

bitcad4u

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Quote from: Question123 on June 14, 2018, 10:18:12 AM

You don't have a choice and you need to hold your bitcoin because if you sell your bitcoin you lose your capital. But other people are still sellingvtheir bitcoin because they did not want to lose more money. But best solution for that is the to hold your bitcoin.

Those who decided to sell at this point,I had some advice.Why you people fail to think about the price raise in future.Bitcoin is not a centralized crypto currency to be handled by some one else .And they decided the price raise and fall.Finally the profit to you.Bitcoin is decentralized currency.

bocyaj

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Yes . Ofcourse it's a magic number.Now the price of bitcoin crossed 6600$ and most expected one.If you had brought 1 BTC at this rate , you will get nearly 600$ as a profit.Not even a diamond give this much profit for the investors.So what I had suggested the people to inverse in bitcoin at low value.

JohnWick_Bitcoin

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Quote from: HatakeKakashi on June 14, 2018, 05:10:09 AM

Today price of the bitcoin is the good time to buy and not only bitcoin ofcoarse more altcoins who are the price decrease also because for sure once bitcoin price increase they will increase too so you can get more profit from bitcoin and altcoins.

Yes you are right, there's no need to worry about the market price even though it was decreasing because sooner it will just go back to its normal state and investing today will make you earn a huge amount of profit in the future.

puremage111

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I believe it could hold, at least $5,000 for me is the minimum support level
Dropping below than $5,000 indeed show a very lack of market confidence

Question123

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You don't have a choice and you need to hold your bitcoin because if you sell your bitcoin you lose your capital. But other people are still sellingvtheir bitcoin because they did not want to lose more money. But best solution for that is the to hold your bitcoin.

Kevin77

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Quote from: coco23 on June 13, 2018, 06:00:54 AM

Quote from: jamesashmore1964 on June 13, 2018, 05:32:56 AM

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

Good luck, but only invest what you can afford to lose Wink

Just some perspective: We are still >100% up compared to 12 months ago.

Imho we'll need some big selling panic first before prices will stabilize

The fact is that nothing is certain and in instances like this, we can even start getting to see a rapid drop than anticipated which makes it so hard to see any serious volume in the market with a lot of traders staying on the sideline and observing how events will be unfolding. The downtrend is still certain and nothing to show we are changing that trend. Anyone who is making any decision in this market right now is simply gambling.

I personally will like to get to see a confirmation, but you also have to understand that holding it now and bouncing from it, does not mean it is going to end up holding it afterwards as we can still definitely get the instances of retesting it and breaking it anyway. We cannot say anything is a good opportunity yet, until it is actually certain it is, but for now, anyone who is trying to trade the market should be careful unless you are trying to go the long term way.

Ararbermas

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Well the price now seems gradually increasing which is from $6300 -$6500, so perhaps bitcoin will not hold on that value anymore because it's time for the progress again, which is rigth now is the right time to buy instead of worrying , because bitcoin showing sign that it will never decrease again on this circumstance.

Casmania

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Quote from: HatakeKakashi on June 14, 2018, 05:10:09 AM

Today price of the bitcoin is the good time to buy and not only bitcoin ofcoarse more altcoins who are the price decrease also because for sure once bitcoin price increase they will increase too so you can get more profit from bitcoin and altcoins.

Yes we might find those price to be profitable enough in the future price increase as it increase also in demand. Hopefully those whales will make the price much more exciting if they'll be able to put up their assets in cryptocurrency. If that happens everybody will be grateful for that, but expect more fake news will happen in order to divert people's minds towards possible crash.

jaocoincrypto18

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Quote from: jamesashmore1964 on June 13, 2018, 05:32:56 AM

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

There is possibility that it can hold because the current Bitcoin price is already reach $6,500 and keeps on rising. Although doubtful but still hoping that this will continue to keep on rising that it will reach the last year ATH again because there are lot of Bitcoin enthusiast that are waiting for this to happen but it seems that there are lot of obstacles that keeps on coming making Bitcoin always in difficult situation.

1Referee

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Quote from: jamesashmore1964 on June 14, 2018, 05:04:23 AM

In addition over half the miners are in China: This worries me because the Chinese Govt are capable of anything!

It's not really that big of a deal. The Chinese government should be happy with such economical activity in their country, and they actually are since they haven't done anything fundamentally to get rid of mining. I do however expect a free will shift where scandinavian countries will eventually surpass China in that regard. They enjoy a stable and open minded government, renewable energy, are free to expand as they wish, etc.

Also don't forget that when Bitmain or China pulls something off, Bitcoin will fork guaranteed and deem all that hardware infrastructure worthless. What will they do with billions worth of hardware that can't do anything? You can't flood the BCash network with all that power since the price and the market isn't liquid enough.

HatakeKakashi

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Today price of the bitcoin is the good time to buy and not only bitcoin ofcoarse more altcoins who are the price decrease also because for sure once bitcoin price increase they will increase too so you can get more profit from bitcoin and altcoins. Depends to the coin maybe choose best altcoins for you right now because some of them even the price of the bitcoin increase they still duml they have that case.

jamesashmore1964

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Quote from: iram1011 on June 14, 2018, 05:03:58 AM

Bitcoin tested the long-term floor around $6000 which is right at the bottom of the descending triangle visible on longer-term time frames. I believe this jump of BTC to $6500 to be a temporary one. Bitcoin is making lower highs which means it is ready to test $5800 level, next. The 100 SMA is below the longer-term 200 SMA which means that Bitcoin is most likely to break lower support levels instead of going back again to $8000. Market is expected to see more bloodshed in coming weeks.

I have read this point of view also BUT the bottom line what can you believe. I think no one knows!
Also bad news can be published any tick of the clock!

jamesashmore1964

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Quote from: jeffthebaker on June 13, 2018, 06:40:53 PM

Quote from: the1arty on June 13, 2018, 06:36:30 PM

Quote from: jamesashmore1964 on June 13, 2018, 05:32:56 AM

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

Cost of mining if I am correct in China is about $3500+- and we can go to that level. However, next levels could be $5k - very psychological price.
By the way, we saw miner in China been working for a loss previously for short period of time. However, in the longtime crypto community is growing, thus long-term price may grow quite a lot.

Recent post on /r/Bitcoin suggested that institutional investment is waiting to the point where miners are in danger of losing profitability. I imagine that some of the inefficient and higher electricity cost set ups are beginning to approach that point in time where they are gonna be dangerously close to mining at a loss. When we get to the point where hashrate stalls or even reverses due to the decreasing prices (which may be dangerously soon?) Things should begin to shape up for the better.

Here is the post https://www.reddit.com/r/Bitcoin/comments/8qfbwd/heres_what_institutional_investors_are_waiting_for/

In addition over half the miners are in China: This worries me because the Chinese Govt are capable of anything!

iram1011

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Bitcoin tested the long-term floor around $6000 which is right at the bottom of the descending triangle visible on longer-term time frames. I believe this jump of BTC to $6500 to be a temporary one. Bitcoin is making lower highs which means it is ready to test $5800 level, next. The 100 SMA is below the longer-term 200 SMA which means that Bitcoin is most likely to break lower support levels instead of going back again to $8000. Market is expected to see more bloodshed in coming weeks.

bengsabeng

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as far as I know bitcoin has not gone down to that price, currently the bitcoin price has started to rise again and reaches the price of $ 6500.
you should continue to monitor the market because the market is in a bad state right now.

batang_bitcoin

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Quote from: jamesashmore1964 on June 13, 2018, 05:32:56 AM

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

Magic number? or you just want to express that you really want bitcoin at that cheapest price? Grin

Don't worry, the price seems to be in good recovery today. It was at the bottom of $6,200 and now it's moving up and has finally recovered quickly for this day.

As I'm posting this, the price is $6,501.

ReiMomo

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Duelbits - $100k Bonus/week

Correct, Bitcoin price with such a low can be used for buying and filling our bags for good profit in coming days. The price of Bitcoin is all time low for this year and this is the perfect time to invest and buy some and keep it for future profit. Bitcoin will rise its price probably within July to double from the current price and we can see double profit.

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