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DU18

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Quote from: LUCKMCFLY on July 20, 2021, 11:25:55 AM

The fund should not exceed $ 28k, I think that if there is a lot of possibility, if we take into account that the BTC will rise to a minimum its last ath at approximately $ 64k, currently the whales are buying in the dip, so they are seeing the very cheap price, maybe it is a good strategy to buy now, as shown here:

Quote

Bitcoin whales are seemingly still buying the BTC price dip as the cryptocurrency’s price drops below the $30,000 mark for the first time in one month, as on-chain data suggests they aren’t selling, but instead buying more.

Source: https://www.cryptoglobe.com/latest/2021/07/bitcoin-whales-keep-accumulating-even-as-btc-drops-below-30000-data-shows/

It only remains to say that those who can buy to do so, it is the best and smartest option that I see, in the short term there are unique opportunities to obtain cheap btc.

The only option now is that we wait for the bitcoin price to really go down, what's more now the $30K price wall has broken, and the possibility of bitcoin price going down will certainly get bigger in the market, I think bitcoin price will move to a lower price than $28K and the possibility of a crypto winter this year is the worst thing that could possibly happen like what happened in 2018 .

tygeade

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By the looks of it the price is not doing great, we are already under 30k and that is why I think there is a good chance that we can see it dropping down. I do not really think that we are going to get there easily, maybe we will try to break down once, fail and then it will try again which all of it may take over 2 weeks. However at the end of the day I think if we keep this up then we are going to get the result eventually and drop.

Normally as a person who holds bitcoin that should be making me feel bad because I will be losing money but dropping more and more is just a very good think for my future as well, all I have to do is I end up buying more and more and that way I am making more money in the future. I rather see bitcoin 10k now then 100k because I know it will be 100k one day anyway, that is guaranteed in my mind, maybe tomorrow or maybe in 3 years but it WILL happen. All I just need now is 10k so that I can buy more, then I can wait as much as I have to and make a huge profit later on.

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Quote from: rhodelmabanal on July 20, 2021, 06:00:42 AM

Well I am also the one who was waiting for the bitcoin to drop down below 30k$ I want to buy some more for holding in a long term because I know that bitcoin will reach 100k$ in the right time.

If so, then is this the right time for you to make a purchase, or are you still waiting for price below $25K or $20K?
For whatever reason you should buy, then always consider using the amount of money you can afford to lose. We never know what will happen in the future because until now we only have 2 direction, up or down. You may really hope that the price of bitcoin will rise to $100K in the next 2 years after you buy it today, but sometime that hope will not come true when the fact don't match your expectation. There is always a possibility, at least you have to prepare yourself to get one of them.

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The fund should not exceed $ 28k, I think that if there is a lot of possibility, if we take into account that the BTC will rise to a minimum its last ath at approximately $ 64k, currently the whales are buying in the dip, so they are seeing the very cheap price, maybe it is a good strategy to buy now, as shown here:

Quote

Bitcoin whales are seemingly still buying the BTC price dip as the cryptocurrency’s price drops below the $30,000 mark for the first time in one month, as on-chain data suggests they aren’t selling, but instead buying more.

Source: https://www.cryptoglobe.com/latest/2021/07/bitcoin-whales-keep-accumulating-even-as-btc-drops-below-30000-data-shows/

It only remains to say that those who can buy to do so, it is the best and smartest option that I see, in the short term there are unique opportunities to obtain cheap btc.

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Quote from: erep on July 18, 2021, 01:23:38 AM

Quote from: barota on July 17, 2021, 01:44:24 PM

the big problem for investors is trying to finding the bottom everytime prices drop traders think the crash will not stop then he will lost the chance for buying cheap my advice is never try to find an exact bottom ,this the reality of investement , in the best case investors will buy between 30 and 50 percent of bottom , for sure there some investors but little of them that have chance of buying in under 10 percent of loss because the final charts for all prices with bottom will come in the longterm the risk of bottom is lossing the chance always for buying and investing in the cheap prices

Many investors wait when the price of btc drops below $30k but in fact the price support remains in the range of an average of $31k since the last 2 months, there is no right analysis pattern to buy it at the lowest price except realtime trading for long-term investment purposes. At least 20% of the lowest price is the ideal price to wait for the market recovery next year.

Well I am also the one who was waiting for the bitcoin to drop down below 30k$ I want to buy some more for holding in a long term because I know that bitcoin will reach 100k$ in the right time. Maybe not this year but I have a feeling that next 2 years bitcoin will reach a new ATH bigger than the ATH that we experience this year.

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Next Stop: $15,000

The price was so far above and beyond what a normal price range for crypto (especially Bitcoin) should be - this side of the next halving in a few year's time; that the price needed to halve (which it has done) then halve again.

Like what happened with Game Stop a few months ago - drive out the institutional investors manipulating the price.

erep

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Quote from: barota on July 17, 2021, 01:44:24 PM

the big problem for investors is trying to finding the bottom everytime prices drop traders think the crash will not stop then he will lost the chance for buying cheap my advice is never try to find an exact bottom ,this the reality of investement , in the best case investors will buy between 30 and 50 percent of bottom , for sure there some investors but little of them that have chance of buying in under 10 percent of loss because the final charts for all prices with bottom will come in the longterm the risk of bottom is lossing the chance always for buying and investing in the cheap prices

Many investors wait when the price of btc drops below $30k but in fact the price support remains in the range of an average of $31k since the last 2 months, there is no right analysis pattern to buy it at the lowest price except realtime trading for long-term investment purposes. At least 20% of the lowest price is the ideal price to wait for the market recovery next year.

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the big problem for investors is trying to finding the bottom everytime prices drop traders think the crash will not stop then he will lost the chance for buying cheap my advice is never try to find an exact bottom ,this the reality of investement , in the best case investors will buy between 30 and 50 percent of bottom , for sure there some investors but little of them that have chance of buying in under 10 percent of loss because the final charts for all prices with bottom will come in the longterm the risk of bottom is lossing the chance always for buying and investing in the cheap prices

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It's a really hard question to answer. I have a hard time to predict the bottom price right now. I don't know maybe it could be $20k. I don't feel like it will go down below it from now on. Bitcoin is much stronger than ever now. It doesn't fall to its very old levels that easy. It's been literally clinging to a price over $30k for a long time (till the last drop to $28k).

STT

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Simple charts are good, the wider the consensus the stronger the move can be when it forms any trend. Overly complicated points might be correct in theory but unless its a iterative process that eventually envelops all players, some kind of decay to the protocol movements and trading everyday; its not that relevant it will just get ridden over the next time Musk tweets and I don't think he is important at all anyway.

We got a higher low on the chart thats bullish and we cross the 12 hr average, its possible we can turn positive until challenged into next week at higher points. About 32.k is 2 day average and theres a good trend and weekly average about 1k higher then that, those are the near term targets to beat. If we beat that trend I'd estimate a possible bottom price could be debatable from there on.

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Quote from: Timelord2067 on June 26, 2021, 05:22:02 PM

Quote from: nelson4lov on June 26, 2021, 05:07:03 PM

If big firms like that continue to buy and countries like El Salvador and Paraguay are pulling up big moves, I'm bullish long term ~ between Q3 to Q4, that's when market might pick up momentum again.

It's not a good look for the citizens of El Salvador and Paraguay to watch the price of Bitcoin going down hill in much the same way their own local currencies did in the decade before their conversion. As to the shop owners who rely on funds coming in to be able to pay rent and utilities ^{(not to mention replace their shelves with more produce etc.,)} if by the time they come to buy, the value of their bitcoin has slipped enough that it's say $1,000 less worth than when they received it, then the shop owners will hike up their prices, customers will buy less, or demand higher wages and inflation kicks in again.

Just like when they traded via Fiat.

Not if the current market situation doesn't last that long. El Salvador is still early and made the right call to pick Bitcoin but I believe their government is already aware of the risks involved and how it might affect their economy should the price not appreciate (like it is now) ~ thinking about it, I believe that when demands kicks in, we won't be talking about inflation in El Salvador and Paraguay (if they get theirs up and running in time).

Btw, I'm expecting market to pick up in the near future. Let's see.

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Quote from: nelson4lov on June 26, 2021, 05:07:03 PM

If big firms like that continue to buy and countries like El Salvador and Paraguay are pulling up big moves, I'm bullish long term ~ between Q3 to Q4, that's when market might pick up momentum again.

It's not a good look for the citizens of El Salvador and Paraguay to watch the price of Bitcoin going down hill in much the same way their own local currencies did in the decade before their conversion. As to the shop owners who rely on funds coming in to be able to pay rent and utilities ^{(not to mention replace their shelves with more produce etc.,)} if by the time they come to buy, the value of their bitcoin has slipped enough that it's say $1,000 less worth than when they received it, then the shop owners will hike up their prices, customers will buy less, or demand higher wages and inflation kicks in again.

Just like when they traded via Fiat.

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Quote from: ?? on ??

Yes, the market is very bad. Yesterday showed that it was necessary to prepare for a breakthrough of $30 000. The news from Salvador did not help, as did the news from Paraguay about the adoption of bitcoin. The trend is strictly bearish and may last until autumn, presumably until September. Yesterday evening I read the news that whales began to transfer large amounts of bitcoin to exchanges. The head of the CryptoQuant service wrote about this:

In view of the sharply increasing supply in the market, bitcoin is waiting for a dump. If the price often hits a certain level, then sooner or later it breaks it. The same, most likely, awaits support at $30 000

The faster we can hit the bottom (which nobody knows), the sooner market would get back on track towards the upward. Currently, overall market is macro bearish from Bitcoin down to altcoins. With the way the support between $28K - $31K has held up several times in the last few weeks goes to show that we still have buyers. IIRC, microstrategy added more Bitcoins to their BTC holdings. If big firms like that continue to buy and countries like El Salvador and Paraguay are pulling up big moves, I'm bullish long term ~ between Q3 to Q4, that's when market might pick up momentum again.

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Quote from: Symmetrick on June 22, 2021, 08:46:26 AM

Where do you think the bottom is and what will happen next for the bitcoin price?

I feel we're on a strong downward trajectory to between $10,000 and $12,500 tops by the end of the year. There's only so much huffing and puffing one twit on twitter can do to push the price up.

Now people are driving the price down to make him hurt. Big time.

Get ready to buy at years' end.

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Quote from: ?? on ??

Bitcoin continues to be in a bearish trend and the latest positive news, alas, is not yet able to break this trend.

The market is looking very bad and soon things meant turn for worst especially if that support at $29/$30k breaks. The bullish news aren't doing any good to the market as it seems the news aren't bullish enough. Not even El Salvador accepting bitcoin as an official currency could turn things around and the world Bank rejecting El Salvador Bitcoin made things worst. It seems for every bullish Bitcoin news there's a counter bearish news to kill the hopes.

Short term, Bitcoin is bearish and I think the button isn't where the market is currently at, we'll likely see further drop and the support of $25k would have to be tested probably more than ones, hope that price holds because it will determine the fate of the market. I don't see anything bullish coming to turn the market around at the moment.

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Quote from: Inspiron14 on June 25, 2021, 10:45:26 AM

yesterday's bitcoin price touched the bottom price at $28k after the strong support $30k breakdown,
and now the price bounced from $28k, but I don't know I really have to be careful if $30k breaks down again,
because it might go to $25k, put the stop lose and dont greedy, i dont know the bottom next, $25k? or we go down again.

It might go 25k$ but it will never stay at that market price, probably just a few minutes because I think that was just too low for the value of bitcoin, And a lot of investors will immediately buy back bitcoin if the price too that low, even below 30k$ the bitcoin market already has a big resistance at that price.

I think this is just a normal pullback since we are just so bullish in cryptocurrency this past month, the dump was actually great since we could accumulate a lot more bitcoin or other cryptocurrencies, I mean buy it at a very low price.

When the market back up again the price would be x10 and the marketcap will be x3 of whats the ATH of bitcoin, so this is a big opportunity for investors who believed in bitcoin and crypto.

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Quote from: Symmetrick on June 22, 2021, 08:46:26 AM

Bitcoin today passed its strong support level around $30 800 and is already trading at $29 000. An interesting drop is observed. In my opinion, it copies the movement of 2017-2018, see for yourself:

Hyip 2017:

And this is the hype of 2021:

There is a possibility that upon reaching a certain point of the bottom, we will go into a long flat. If we look at the 1d chart now, we see a downtrend that began in early May:

Where do you think the bottom is and what will happen next for the bitcoin price?

It seems to be that we're still in the midst of a pullback and people are increasingly hesitant to put money into Bitcoin. The phrase "don't try to catch a falling knife" is unfortunately symbolic of the situation we are in right now, if Bitcoin was able to lose half of it's value and has almost wiped out any gains if you bought in this year, it feels like there are a lot of people who are sitting on the verge of cashing out to make sure they don't lose all their money. The price seems to be diverging on a steady trend downwards, punctuated by ever smaller peaks and that would be a bad sign for the big players who will seriously be considering exiting unless they can play the short term games. Once we breach back into the $20k field it feels like it could fall off a cliff, just like it went up like a rocket.

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Quote from: Inspiron14 on June 25, 2021, 10:45:26 AM

yesterday's bitcoin price touched the bottom price at $28k after the strong support $30k breakdown,
and now the price bounced from $28k, but I don't know I really have to be careful if $30k breaks down again,
because it might go to $25k, put the stop lose and dont greedy, i dont know the bottom next, $25k? or we go down again.

Oh wow! It really did hit 28k, I was probably asleep back when that happened and didn't see it, I have always seen it above 30k at all times! Thank god I wasn't awake, I may have ended up selling when I see a flash crash like that, I usually hold as long as possible, years if I can, but I hate flash crashes with a burning fire. 30k seems like the place to be right now, that bottom is barely ever broken and the only time it did get broken and dropped low, it happened to actually bounce back up so quickly that I didn't even see it happening.

I do not know what to think about the market but we have seen it go above 40k as well 41k was broken literally this month and we still failed to go higher, so that means 30 to 40 is still the range and I do not think that it is going to change anytime soon, even if we go below 30 or above 40 it is going to go back between them.

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yesterday's bitcoin price touched the bottom price at $28k after the strong support $30k breakdown,
and now the price bounced from $28k, but I don't know I really have to be careful if $30k breaks down again,
because it might go to $25k, put the stop lose and dont greedy, i dont know the bottom next, $25k? or we go down again.

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The current chart also reminds me of the situation from the beginning of 2018.
However, in 2018, the mainstream was much more negative about cryptocurrencies.
So many positive things have happened for cryptocurrencies this year that in my opinion this is just a deep correction and soon the Bitcoin price will be attacking the new ATH.

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Quote from: STT on June 24, 2021, 06:56:43 PM

This is a messy fast chart, 15m bars but the idea would be simple stay above the blue line for fast momentum and if not then at least above the horizontal line which is important support across days and weeks. Target is just below 40k where we will meet our old friend the 50 day moving average and this is probable selling and where a true measure of strength will occur. For most of the 2021 we stayed above 50 day so its a weight over us now.
Just now the highs are retracting from weekly average which is the standard boundary between negative and positive trending market.

Very hard to see this happening in this period of extremely high selling pressure I think but you are right, as long as when we stretch to days and weeks view, if we can stay close to the line or even above it then there is enough momentum to prepare in the case of consolidation.

Need to break 50MA first and like you said where plenty of sellers are waiting.

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Quote from: Taskford on June 24, 2021, 07:39:42 AM

Quote from: ethereumhunter on June 24, 2021, 06:46:41 AM

Quote from: 777Jolami on June 24, 2021, 01:40:25 AM

Quote from: Obito on June 23, 2021, 02:50:01 AM

I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

I am not an expert in analyzing markets, charts and candles. But I can understand that the strong support at $28k is once again holding its ground. That's certainly been tested at this level. And for that reason, I don't think it can break and go deeper. Although the FUDs from China are always very negatively affected but there is no chance of a repeat like 2018, Fud will end soon this week when there is a large supportive consensus. Bitcoin is not alone, not again!

Maybe $28k is the lowest price for bitcoin and it will not reach the other lowest price in near. But it could get down if China still spreading the bad news for bitcoin and that make people panic by selling their bitcoin. I think we should not think much about the news from China because they want to make us panic so they can use the moment to buy bitcoin at a low price. We believe in bitcoin, and that can help bitcoin survive.

I also think that is the lowest price we can get for bitcoin right now but if the 28k$ break maybe we can see the price drop more and hope we cannot see another worst just like before, but the adoption now is so strong so I guess we cannot really experience such huge lose. Maybe lets forget about China fuds for now since its not really helping and creates panic to the new users.

I am a bit worry if the price is down below $28k, but if that price breaks, we have more chances to buy bitcoin at a lower price. Hopefully, the price will not go down below $28k-$25k. The adoption factor can be the reason for bitcoin to hold the price not to going down too deep. I do not think seriously about China fuds because I doubt they will still play mass panic to the public. After all, the public will know that they just want to make them sell their bitcoin at a downtrend so China can buy a huge amount of money bitcoin for their benefits. If China still plays like that, we need to be behind them to use that moment for our benefit.

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Quote from: LogitechMouse on June 22, 2021, 10:42:44 AM

(....)

The support was tested, but not broken, the price bounced up quite confidently.

Very simple chart yet important. What I can see here is the $30,000 level is extremely strong support for now on Bitcoin.
What I am worried about now is the monthly closing candle below $30,000. If this will happen, I am expecting what happens to the monthly candle closed last month, which not managed to close above $40,000 and look how the price of Bitcoin went this month.
So, if ever Bitcoin will make a monthly closing candle below $30,000, very bad.

STT

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To establish positive action its important now we stay within range of January action and also accumulate above moving averages such that we reach momentum to challenge more obvious levels like the 200 day average and I think 40k has become a general pivot area.

This is a messy fast chart, 15m bars but the idea would be simple stay above the blue line for fast momentum and if not then at least above the horizontal line which is important support across days and weeks. Target is just below 40k where we will meet our old friend the 50 day moving average and this is probable selling and where a true measure of strength will occur. For most of the 2021 we stayed above 50 day so its a weight over us now.
Just now the highs are retracting from weekly average which is the standard boundary between negative and positive trending market.

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Quote from: 7788bitcoin on June 24, 2021, 02:26:35 PM

Quote from: Lucius on June 24, 2021, 08:18:09 AM

When was summer (in the Northern Hemisphere) the right time for a cryptocurrency market? Big things usually start to happen only in August and after, and it is very possible that this will happen this year as well.

This is what i expected this year but the huge rally started earlier than expected and most of them who were planning to invest did not get a chance to time the investment and with the pandemic affecting many i am sure majority did not get the opportunity to invest just before the rally began and if the market will once boom in the next few months then it is definitely an opportunity for everyone who missed out.

No one had actually expected the rally that happened because who had thought that there would be some nasty run since we are on the middle of a pandemic situation? None right? Even myself or majority on the community did really have almost the same view that the market would have some decline considering that the economic state is really very unstable due to pandemic but we had seen the different side of things where this crypto market did really make some good run instead which is very unexpected and i agree into the point you had stated on here.

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Quote from: Lucius on June 24, 2021, 08:18:09 AM

When was summer (in the Northern Hemisphere) the right time for a cryptocurrency market? Big things usually start to happen only in August and after, and it is very possible that this will happen this year as well.

This is what i expected this year but the huge rally started earlier than expected and most of them who were planning to invest did not get a chance to time the investment and with the pandemic affecting many i am sure majority did not get the opportunity to invest just before the rally began and if the market will once boom in the next few months then it is definitely an opportunity for everyone who missed out.

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At this time there is a lot of uncertainty, because the market has given high volatility movements, there are many times that they talk about a possible fall until 24K, the most bearish say it can reach $ 20k, and some say it is not very feasible to buy In the DIP, but they are simply speculation, according to this article, the opinion is very complete:

Quote

Zooming out on the chart, the trend on a macro-level is still under choppy (*coughs bearish) conditions. The structured range within which Bitcoin has consolidated over the past month is a strong indicator that the market is possibly reaching another low in the next few weeks. Over the next two weeks, Bitcoin could re-work its way to $35,000 but a mere re-test would not confirm a bullish reversal.

Source: https://ambcrypto.com/is-buythedip-the-right-call-for-bitcoin-ethereum-and-altcoins-now/

For now in my particular case, I would keep myself outside the market and those who have BTC would only dedicate myself to Hodl at least until more clearing on the market.

Lucius

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Quote from: davis196 on June 24, 2021, 07:43:12 AM

The summer is not the best time for a Bitcoin bull run and a FOMO phase.

When was summer (in the Northern Hemisphere) the right time for a cryptocurrency market? Big things usually start to happen only in August and after, and it is very possible that this will happen this year as well.

In the meantime, smart people will accumulate as much as possible, they will try to have as much FUD as possible and they will look forward to each new dip with great enthusiasm. So many people who think that this is the beginning of what started to happen in 2018 is really a real disappointment for me, because many seem to have trouble understanding some basic things.

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The Bitcoin price dropped to 29-30K for a few hours and you began predicting a new bottom and a new flat?
Your post looks like FUD to me. Grin

The current BTC price is 33K USD.It might drop under 30K,but it might recover back to 35K.Nobody knows what will happen.I think that the price will drop after a few weeks,because more traders are going to sell.There aren't any bullish news recently and the FUD will continue.Many traders will get tired of HODLing their Bitcoins.
The summer is not the best time for a Bitcoin bull run and a FOMO phase.

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Quote from: ethereumhunter on June 24, 2021, 06:46:41 AM

Quote from: 777Jolami on June 24, 2021, 01:40:25 AM

Quote from: Obito on June 23, 2021, 02:50:01 AM

I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

I am not an expert in analyzing markets, charts and candles. But I can understand that the strong support at $28k is once again holding its ground. That's certainly been tested at this level. And for that reason, I don't think it can break and go deeper. Although the FUDs from China are always very negatively affected but there is no chance of a repeat like 2018, Fud will end soon this week when there is a large supportive consensus. Bitcoin is not alone, not again!

Maybe $28k is the lowest price for bitcoin and it will not reach the other lowest price in near. But it could get down if China still spreading the bad news for bitcoin and that make people panic by selling their bitcoin. I think we should not think much about the news from China because they want to make us panic so they can use the moment to buy bitcoin at a low price. We believe in bitcoin, and that can help bitcoin survive.

I also think that is the lowest price we can get for bitcoin right now but if the 28k$ break maybe we can see the price drop more and hope we cannot see another worst just like before, but the adoption now is so strong so I guess we cannot really experience such huge lose. Maybe lets forget about China fuds for now since its not really helping and creates panic to the new users.

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I don't think we can accurately know what is the absolute bottom of bitcoin since there is a likely chance that it won't go any lower than the last time so we just can speculate what's going to happen next and in the end we just need to have bitcoin in our wallets no matter what happens in the market.

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Quote from: 777Jolami on June 24, 2021, 01:40:25 AM

Quote from: Obito on June 23, 2021, 02:50:01 AM

I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

I am not an expert in analyzing markets, charts and candles. But I can understand that the strong support at $28k is once again holding its ground. That's certainly been tested at this level. And for that reason, I don't think it can break and go deeper. Although the FUDs from China are always very negatively affected but there is no chance of a repeat like 2018, Fud will end soon this week when there is a large supportive consensus. Bitcoin is not alone, not again!

Maybe $28k is the lowest price for bitcoin and it will not reach the other lowest price in near. But it could get down if China still spreading the bad news for bitcoin and that make people panic by selling their bitcoin. I think we should not think much about the news from China because they want to make us panic so they can use the moment to buy bitcoin at a low price. We believe in bitcoin, and that can help bitcoin survive.

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Quote from: adaseb on June 23, 2021, 11:33:01 PM

Or it'll go to $20K, people will buy, it'll trade sideways for a few days or weeks and then all of a sudden dump and break $20K. Then people will panic it'll go to like $18K and that will be the bottom. Or maybe the bottom will be $16K which is around the 200 WMA which has been a very good bottom signal the last 3-4 times it touched.

I feel that if 20k happens again it will cause something really big to happen,,, First because Bitcoin has never gone back to visit the old ATH after breaking past it (correct?) and secondly because it will make people think of 10k again. So either dominos tumble and Bitcoin again in danger OR people rebound it to an extreme rally that takes us higher than we imagined:)

777Jolami

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Quote from: Obito on June 23, 2021, 02:50:01 AM

I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

I am not an expert in analyzing markets, charts and candles. But I can understand that the strong support at $28k is once again holding its ground. That's certainly been tested at this level. And for that reason, I don't think it can break and go deeper. Although the FUDs from China are always very negatively affected but there is no chance of a repeat like 2018, Fud will end soon this week when there is a large supportive consensus. Bitcoin is not alone, not again!

adaseb

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If the $30K doesn't hold and I had to guess, I would say that next bottom might be at $20K and if not then maybe slightly below that figure. Most likely everybody will want to long at $20K because its the easiest technical analysis out there "Resistance becomes Support" so most likely it might go to $21-22K before going back up to front-run those people.

Or it'll go to $20K, people will buy, it'll trade sideways for a few days or weeks and then all of a sudden dump and break $20K. Then people will panic it'll go to like $18K and that will be the bottom. Or maybe the bottom will be $16K which is around the 200 WMA which has been a very good bottom signal the last 3-4 times it touched.

xSkylarx

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Quote from: Symmetrick on June 22, 2021, 08:46:26 AM

Where do you think the bottom is and what will happen next for the bitcoin price?

Bitcoin is really unpredictable so no one can predict where will be the bottom. Price could dump hard in a week and can also pump as well. For me, the dump recently at $28k was the bottom. We quickly recovered from that dump and now trading at $34k. I could be wrong also if fud suddenly shows up again resulting for it to dump again. If that was the bottom then I think next month would be a green market for bitcoin again and also to other cryptocurrencies.

Obito

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I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

Xinarae*

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It is better to enter the market by analyzing the market floor those who enter the market without knowing anything leave the market after losing everything and becoming frustrated. This is why you have to keep your mind fixed and at the right time to hold the currency no matter where the market goes even if the price goes down it will go up again waiting a while will make the information about the market easier.

STT

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The bottom of this move or overall even is when enough people jump in regardless of any general doubts. You can tell where that is personally to some extent, problem is the market has a crowd mentality to it where nobody wants to go first. Hence we will over correct and it always occurs like this, anything sub 30k is a value area is my take some time ago and here we are reaching into that area. It should catch somewhere around here but its all relative.

ultrloa

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Quote from: KennyR on June 22, 2021, 06:13:27 PM

Quote from: proudhon on June 22, 2021, 05:24:34 PM

Quote from: 2double0 on June 22, 2021, 05:04:33 PM

@Ratimov Sir, I'm watching a lot of sentiments from people and most of them have called $20k to be the bottom for this year, but I think that if $20k will be touched, btc will continue its downtrend till $9650 more and it will be more tragic to say but btc will not recover for at least a few more years based on its previous ranging cycles.

When bitcoin dips below $20k, there will be no recovery. There already will never be a sustained (10+ days) recovery above $35k, as I've confirmed and mathematically proven.

I don't know whether there is possible chances for recovery or not, but I believe the market is gonna experience downfall as it happened during the years after the previous bull market. You're great and you've done a perfect calculation of the market to sustain above $35k for ten days. I was counting the days, anyhow thats a precise prediction from you.

That's what I think also since August is ghost month and this month mostly the bear market season in crypto so expect that we can experience more of it these days since many are at fear. But lets watch how the market flows in forth quarter of this year since if we cannot see a price recovery then maybe we can experience a huge bear season.

KennyR

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Quote from: proudhon on June 22, 2021, 05:24:34 PM

Quote from: 2double0 on June 22, 2021, 05:04:33 PM

@Ratimov Sir, I'm watching a lot of sentiments from people and most of them have called $20k to be the bottom for this year, but I think that if $20k will be touched, btc will continue its downtrend till $9650 more and it will be more tragic to say but btc will not recover for at least a few more years based on its previous ranging cycles.

When bitcoin dips below $20k, there will be no recovery. There already will never be a sustained (10+ days) recovery above $35k, as I've confirmed and mathematically proven.

I don't know whether there is possible chances for recovery or not, but I believe the market is gonna experience downfall as it happened during the years after the previous bull market. You're great and you've done a perfect calculation of the market to sustain above $35k for ten days. I was counting the days, anyhow thats a precise prediction from you.

sunsilk

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$25,000 could be the next bottom but bitcoin is still showing us how resilient it is. Within a few hours, it came back to $32,000 after it has hit $29,000.

Quote from: BrewMaster on June 22, 2021, 09:00:43 AM

i have found that at times like this the best course of action is just watching the market with a bag of popcorn.

Yup, I agree. Many times I've also watched the market the same as these and my action is also depending how the market will react while watching it.

proudhon

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Quote from: 2double0 on June 22, 2021, 05:04:33 PM

@Ratimov Sir, I'm watching a lot of sentiments from people and most of them have called $20k to be the bottom for this year, but I think that if $20k will be touched, btc will continue its downtrend till $9650 more and it will be more tragic to say but btc will not recover for at least a few more years based on its previous ranging cycles.

When bitcoin dips below $20k, there will be no recovery. There already will never be a sustained (10+ days) recovery above $35k, as I've confirmed and mathematically proven.

2double0

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@Ratimov Sir, I'm watching a lot of sentiments from people and most of them have called $20k to be the bottom for this year, but I think that if $20k will be touched, btc will continue its downtrend till $9650 more and it will be more tragic to say but btc will not recover for at least a few more years based on its previous ranging cycles.

thecodebear

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Quote from: Oasisman on June 22, 2021, 04:16:52 PM

Quote from: thecodebear on June 22, 2021, 11:34:40 AM

So who was smart and picked up cheap coin today? I personally got some $1810 Ethereum. Just missed out on a couple super cheap altcoin buy orders but we may still get a lower leg down at some point. For now it's rebound time to take profits on as the price jumps back up. Hoping Bitcoin heads back to high $30000s before it does another big drop back to the bottom of the barrel.

Currently trading at $32,000. It did bounced back, while ETH around $1,900. You could either short or hodl. But, I guess there's a huge chance for Btc to fall below the strong support at $30,000 again.
The chart presented by the OP really suggest a downtrend. Though it may looks like we're seeing a 2018-ish bear pattern, but we're in a completely different market situation. Bitcoin price might steer in a different direction.

Looks like we're scraping the bottom of the market these days, China banning fud has reached peak excitement but its also almost over as it seems about 75% of mining in China has already ended, so the time for that to cause panic sell-offs is nearing an end. I expect we'll see under $30k again, maybe even a few more times this summer, but I don't think it'll go much lower than it did today. Maybe we get a $27k briefly at some point. $30,000s seems to be the bottom range. This does look a lot like the 2018/2019 bottom in the $3000s. It took 4.5 months to carve out the bottom and go into bull market again at that point, I expect it won't be quite so long this time, and we're already a month in. Shorting at this point is quite risky, while holding has no risk. Nothing wrong with taking some trading profits and playing the market volatility in this $30,000s ranging though, while it lasts. I expect by end of summer we'll be firmly back above $40k and heading upwards again. For those with a lot of cash this must be a fun time for buying! One of those rare opportunities when you get to buy ultra low at prices that seemed like you missed out on forever just a short while ago.

LUCKMCFLY

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The price of BTC has dropped a lot, the reason is still unknown, at the moment the bears are dominating the market, the bulls have not yet manifested with a clear answer, for now I think that the bulls must be planning their counterattack plan, now what remains is to wait and see how everything continues to develop:

Quote

Bitcoin’s market capitalization fell by 3.3%, at the time of writing, and BTC was down by 22.1% in 7 days. Bitcoin has held on to the $32,600-support level since 8 June. However, at press time, it had broken and fell below that support level to $31,600.

Source: https://ambcrypto.com/bitcoin-litecoin-chainlink-price-analysis-22-june/

Some analyzes show that the price can reach a maximum of $ 20k, it is the worst of all scenarios, but everything can change, any movement can change the scenario shown for now and its slight bearish trend.

Oasisman

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Quote from: thecodebear on June 22, 2021, 11:34:40 AM

So who was smart and picked up cheap coin today? I personally got some $1810 Ethereum. Just missed out on a couple super cheap altcoin buy orders but we may still get a lower leg down at some point. For now it's rebound time to take profits on as the price jumps back up. Hoping Bitcoin heads back to high $30000s before it does another big drop back to the bottom of the barrel.

Currently trading at $32,000. It did bounced back, while ETH around $1,900. You could either short or hodl. But, I guess there's a huge chance for Btc to fall below the strong support at $30,000 again.
The chart presented by the OP really suggest a downtrend. Though it may looks like we're seeing a 2018-ish bear pattern, but we're in a completely different market situation. Bitcoin price might steer in a different direction.

sana54210

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Quote from: proudhon on June 22, 2021, 09:23:18 AM

Quote from: BrewMaster on June 22, 2021, 09:00:43 AM

when everything is based on fear and lack of logic it is not possible to predict anything.

It's possible. The price will continue to go down.

It is not possible to predict the price and not the direction, it is impossible to predict the direction as well but leaving that aside nobody in the world could give a date and a price. Even the people who scam others by saying they can predict the direction do not give a price and date at the same time, sometimes they give a price number like say "it will be 23k" or whatever but even they do not give a date.

Nobody can say "it will be 25k by 27th of June" or something like that, it is impossible and anyone who even tries to do something like that will not be remotely close and will be making it up. Why? Because we have no clue who will buy and who will sell and when they will do that, it is not something predictable and will never be. Sure it looks like it is going down but it went down enough if you ask me, I say we are going to keep doing this dance up and down for a while longer.

DarkIT

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It was a huge fall in the price.Everyone should do of buying more of bitcoin for now.We can't see this low for the next time in the history.Because bitcoin had a huge supporters for now.So the price will increase in a short period of one week.But in the market,the dump and pump is common.It doesn't mean of bitcoin losing it value.

Yaunfitda

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Quote from: BrewMaster on June 22, 2021, 09:00:43 AM

Quote from: Symmetrick on June 22, 2021, 08:46:26 AM

Where do you think the bottom is and what will happen next for the bitcoin price?

we can only predict normal market movements and logical human behavior which in turn affects the price. when everything is based on fear and lack of logic it is not possible to predict anything.

i have found that at times like this the best course of action is just watching the market with a bag of popcorn.

That bolded part, when seen this in the past, now it's going to be a long boring game now. Either we have a break out run in the next couple of months, or it will continue this sideways pattern and investors are not willing to pour their hard earn money. As you have said, it's logical human behavior since the movement is not that attractive. Unless they just one thing in mind, that is to accumulate sats.

buwaytress

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Quote from: jackg on June 22, 2021, 11:06:09 AM

There might be an opposite of a short squeeze that occurred or something then too - on a bunch of exchanges at different times.

Bitcoin has a good history for trying to chase random stops and breaking additional support zones to try to liquidate positions (either traders themselves or exchanges doing it idk).

A lot of people might also have moved their 29k-30k orders a bit upwards to where we'd have left the last pattern because they might not have seen much of a point leaving it there.

Random and almost purely logical from a milestone perspective rather than technical so yeah, I see that happening (exchanges especially, on instruction from big brokerages). I did say I was disappointed in 30k not holding but as long as we don't revisit it for another 24 hours, we'll make it to mid-week and it'll be a blip.

@proudhon You're a happy camper, aren't you? Wink

uneng

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I don't see a pattern, because in 2017 China wasn't so harsh over bitcoin like they are doing right now and at same time shilling for their own centralized crypto currency. We have a new event happening, that is the main cause of this bitcoin crash. Now a positive event is needed to push bitcoin upside again: for an example, it could be a friendly country giving propitious conditions to crypto mining farms operate on their territories.
Shutting down mining farms was the Achilles' tendon of bitcoin and China knew how to do it efficiently to boost their own crypto meanwhile. I think if it can be reverted bitcoin will fastly recover.

thecodebear

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So who was smart and picked up cheap coin today? I personally got some $1810 Ethereum. Just missed out on a couple super cheap altcoin buy orders but we may still get a lower leg down at some point. For now it's rebound time to take profits on as the price jumps back up. Hoping Bitcoin heads back to high $30000s before it does another big drop back to the bottom of the barrel.

jackg

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https://bit.ly/387FXHi lightning theory

Quote from: proudhon on June 22, 2021, 09:23:18 AM

Quote from: BrewMaster on June 22, 2021, 09:00:43 AM

when everything is based on fear and lack of logic it is not possible to predict anything.

It's possible. The price will continue to go down.

👀 Hmmmm. Seemed to rebound a little just after you said that.

We could still go down and the current move up could be due to the slight S&P move but I don't think we're fully in a bear market yet. It looks a bit like May-June of 2017 now and the one op put on too (I want it to look like September).

Quote from: buwaytress on June 22, 2021, 10:49:26 AM

Completely missed it, it seems, as it's back to around 32k when I looked last earlier today. Probably just triggered a lot of stop losses at 30k and then bounced back on buy limit orders just below 29k, nice 10% gains in a flash for whomever did the latter!

Slightly disappointed 30k didn't hold, but I'd rather flush these shorts out before Friday!

There might be an opposite of a short squeeze that occurred or something then too - on a bunch of exchanges at different times.

Bitcoin has a good history for trying to chase random stops and breaking additional support zones to try to liquidate positions (either traders themselves or exchanges doing it idk).

A lot of people might also have moved their 29k-30k orders a bit upwards to where we'd have left the last pattern because they might not have seen much of a point leaving it there.

buwaytress

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Completely missed it, it seems, as it's back to around 32k when I looked last earlier today. Probably just triggered a lot of stop losses at 30k and then bounced back on buy limit orders just below 29k, nice 10% gains in a flash for whomever did the latter!

Slightly disappointed 30k didn't hold, but I'd rather flush these shorts out before Friday!

LogitechMouse

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With what happened, there is a high chance that weak hands might push the price of Bitcoin to even lower prices.
Now that the $30,000 support of Bitcoin has already been broke, when it will not go higher than that price in the next few days I might see Bitcoin's support at the 2017-2018 ATH which is at near $20,000.

That is the next support that I see. On the other hand though, its also possible that it is a false breakout and price will go rise in the next few days or weeks. Lets wait for what will happen but for me, I think that the chances of the bears controlling the market already is high and a bear market might happen.

proudhon

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Quote from: BrewMaster on June 22, 2021, 09:00:43 AM

when everything is based on fear and lack of logic it is not possible to predict anything.

It's possible. The price will continue to go down.

Ararbermas

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Don't make comparison mate through the chart because there's actually a big difference especially when it comes the situation, just keep monitoring the performance instead, and never place an order as long as it still crashing because its not safe wherein just wait for the right time and remember on this kind of situation even you see it turns green it doesn't mean it's a bullish, make analysis and always follow the trend for your safety..

BrewMaster

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Quote from: Symmetrick on June 22, 2021, 08:46:26 AM

Where do you think the bottom is and what will happen next for the bitcoin price?

we can only predict normal market movements and logical human behavior which in turn affects the price. when everything is based on fear and lack of logic it is not possible to predict anything.

i have found that at times like this the best course of action is just watching the market with a bag of popcorn.

Symmetrick

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