Trading Above $5,500 Could Prepare Bitcoin For Mega Upward Movement – Analyst

Pursuer

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Quote from: Baofeng on May 08, 2019, 06:26:49 AM

Quote from: talkbitcoin on May 08, 2019, 05:44:34 AM

right now there still is a lot of drama against bitcoin working day and night to prevent this rise but the good news is that despite all the FUD and the attempts that has been happening in prevention of the rise, the rise is still very strong. price not only stayed above $5500 but it even reached a new stable higher price at $5800 and if this slow rise keeps up we can see above $6k with the same trend.

I agree, I initially thought that me might see the price going down after the news of Binance being hacked, but so far the price is steady at $5800k a good indication that investors are not affected by it. We still have one news to wait, as far I understand, the Chinese will release today whether they will ban bitcoin mining or not, but so far I haven't seen any concrete statement yet.

it is too soon to say for sure since the news (or rather the FUD about it) is still fresh and are coming out but technically Binance is an altcoin exchange not a bitcoin and in the past no altcoin exchange hack has ever led to a bitcoin price fall. there was a big one last year which led to about a 5% drop which might as well be daily fluctuations and might have had nothing to do with that.
additionally we are on the rise, and when the trend is bullish (or semi bullish) negative news can't really change it.

Baofeng

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Quote from: talkbitcoin on May 08, 2019, 05:44:34 AM

right now there still is a lot of drama against bitcoin working day and night to prevent this rise but the good news is that despite all the FUD and the attempts that has been happening in prevention of the rise, the rise is still very strong. price not only stayed above $5500 but it even reached a new stable higher price at $5800 and if this slow rise keeps up we can see above $6k with the same trend.

I agree, I initially thought that me might see the price going down after the news of Binance being hacked, but so far the price is steady at $5800k a good indication that investors are not affected by it. We still have one news to wait, as far I understand, the Chinese will release today whether they will ban bitcoin mining or not, but so far I haven't seen any concrete statement yet.

talkbitcoin

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right now there still is a lot of drama against bitcoin working day and night to prevent this rise but the good news is that despite all the FUD and the attempts that has been happening in prevention of the rise, the rise is still very strong. price not only stayed above $5500 but it even reached a new stable higher price at $5800 and if this slow rise keeps up we can see above $6k with the same trend.

Dogboy714

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This is all u need to know about Murad and his "predictions":

https://twitter.com/MustStopMurad/status/1092944080156405760

Counter-trading him would probably be much more profitable. Short $6200. Close at $4300. Profit.

Slow death

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Quote from: JessicaVL on May 07, 2019, 04:12:20 AM

Bitcoin price rose above $5,800 over the weekend before retracing to trade at just below $5,700 as at the time of writing.

May has been a good month for the bitcoin price

Quote from: JessicaVL on May 07, 2019, 04:12:20 AM

According to the founding partner of Adaptive Capital, Murad Mahmudov, a sustained hold above $5,500 would indicate a significant bullish outlook for the cryptocurrency.

He avoided saying things like: bitcoin will reach the price X or Z, because he is afraid of making mistakes in his prediction, so he said something that anyone can say and that does not have any relevance

Adriano2010

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I think the analyse is right and bitcoin now is over 5900 $ and will reach 6000$ soon on my opinion, is goot for who have and still hold because i think this year the price will grow more.

avikz

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Quote from: JessicaVL on May 07, 2019, 04:12:20 AM

Bitcoin price rose above $5,800 over the weekend before retracing to trade at just below $5,700 as at the time of writing. According to the founding partner of Adaptive Capital, Murad Mahmudov, a sustained hold above $5,500 would indicate a significant bullish outlook for the cryptocurrency.
Read more here: https://www.cryptofish.com/blog/bitcoin-mega-upward-movement/

In real world stock market analysis, whenever the stock price shows a sign of stabilization, is usually a good sign and it is expected that the price will go up further! However, it may not hold true for cryptos as well. Even though I am optimistic about the future bull run because the price is actually showing some signs of stabilization as well as upward movement, it's still a speculation.

It's always good to read about such speculation, but don't take decision based on such speculations, no matter how positive they appear!

Red-Apple

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this has been a slow rise ever since the breakout from the bottom accumulation was over and it will most probably remain like that for at least another $3000.
in other words $5500 doesn't have to be the preparation for anything. it is just a trend and that price is another number on that trend upwards to $10k.

Kemarit

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So far the prices hasn't breach the $6000 range, coz this one is a significant barrier to get through. Once we goes above $6000 and then maintain it, obviously we can go as high as $7000. So don't celebrate it, we are still in this zone wherein we need to get through before we can assume that we are out of the bear's claw. So far there are still people booking their profits, selling at premium $5950. So let's see how we do in the next coming days and see that big $6000 barrier being broken.

traderethereum

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The chance for bitcoin price to go down still wide open because the price now is moving to the higher price and then the price will make an adjustment for a while.
So if you still trading at the current price, make sure you be careful because you don't know when the price will down or up.
Try to compare the other exchange so you can get more information before you decide to buy bitcoin.
But I am sure that the bitcoin price can reach more than $7,000 in the next months.

killat

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To confirm a potential bull run I think Btc will need to stay above 6000$ for at least one month.

This will give some more confidence to new investors as this is what crypto market needs to start a strong bull run.

Genemind

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There are different speculations circulating around crypto but $6k is still low for us to expect that we're on the bullish market point. There's no harm in expecting for the best but we should still consider that there would still step that the market should take. Let's see and observe how the market would go at least in a month.

Haunebu

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Quote from: Nadziratel on May 07, 2019, 05:23:32 AM

I'm not sure, but does the Bitcoin price have a FOMO effect? In recent days, despite the negative news, the Bitcoin price seems to be moving towards a higher resistance.

What negative news? Apart from the Tether controversy that happened recently, a string of positive news has been propagating through the crypto ecosystem which is why you are completely wrong here.

Observe BTC climb above $6k soon and target $7k in the near future.

salty

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It seems to me that everyone was waiting for the bull run for a very long time and it would be time for Bitcoin to step over the $ 6000 mark.Many experts have predicted an unprecedented increase in the price of bitcoin and I also have a positive attitude to their thoughts and, accordingly, I will wait for the right time to sell part of my assets.

millgates

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Quote from: JessicaVL on May 07, 2019, 04:12:20 AM

Bitcoin price rose above $5,800 over the weekend before retracing to trade at just below $5,700 as at the time of writing. According to the founding partner of Adaptive Capital, Murad Mahmudov, a sustained hold above $5,500 would indicate a significant bullish outlook for the cryptocurrency.
Read more here: https://www.cryptofish.com/blog/bitcoin-mega-upward-movement/

This is the time for bullish trend but can not become too significant because bitcoin price was fell from $20.000 to $3.000 aproximately while adoption still growing this meant that bitcoin market has reach higher level of liquidity. So my prediction is the increasing price will be slower. But the price will keep rise. It seems that many investors was bought many bitcoin at $3.000-$4.000. Beside that factor there are other factors that influenced the increasing price of bitcoin, and the best factors is good news that spread which create good sentiments for bitcoin.

Ailmand

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It's hard to assume and difficult to conclude that the bull market is already approaching when the current value still can't go beyond $6k. The price is getting better yet it only sticks to $5,500-$5700. We can conclude and expect better when the prices at least reach higher because if not, it might be just the hype that we're experiencing.

hugeblack

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It is nonsense, the real change would be to get rid of the level of $ 6000. "Higher than 6700."
If we assume that the 5500 barriers will be an impressive change, why is the price going up with strong resistance below $ 6000? Tongue

All of these levels are psychological levels but will not affect the price.

Nadziratel

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I'm not sure, but does the Bitcoin price have a FOMO effect? In recent days, despite the negative news, the Bitcoin price seems to be moving towards a higher resistance.

xvids

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This is what most of us are expecting right now ,
Seem's like most of the TA are saying that it would go up and all are positive about it.
Just don't expect too much so you wouldn't be disappointed.

BlackFor3st

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Yes the speculation is kinda interesting but I am wondering if many will follow this trend. The only problem is that we don't know what the big whales are thinking of.

But if their strategies are almost the same to cryptofish blog then we can surely see a mega upward movement of bitcoin prices in the following months. Watching the movement of crypto prices everyday is kinda frustrating but one thing that I am sure. The market will surely recover in the following months.

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