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Tytanowy Janusz

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I have a thought about this. That a breakdown below $30 000 will still take place. This is necessary in order to fold the last long-players, catching a large portion of liquidations and stop-losses. After that, the price will reverse and go to test the powerful resistance at $40 800, marking a trend reversal.

Looks like you were right. We've broke 30k support. I though that it is not necessary because everyone is already scared to the limit but looks like we needed final capitulation. Yesterday decent pump +10% back to 32k in the most crucial moment - at the bottom line of falling wedge that I was talking in my first post in this thread:

I think that bounce back, during market capitulation, was too strong to simply die. We will see at least another leg up which may break resistance that was tested 9 times before. This will trigger decent come back at least to 40-44k which will fulfil your prediction.

LUCKMCFLY

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I think that now the technical analyzes are being updated every hour, as the support level has been breaking, however reaching 30800USD or more is likely to happen, the Shorts may be open, however BTC has fallen more than 3 %, as shown here:

Quote

On the daily chart, Bitcoin (BTC) has broken the vital $30,000 level. The selling volume is high, which means that bears may have accumulated enough power in the sideways trend for a continued drop.

Source: https://u.today/btc-ada-xlm-and-bnb-price-analysis-for-july-20

For now the trend is very bearish, but this is in the short term, if this is a bearish trap, the price level usually lasts at least a week in this way, so far there is no clear or fundamental reason for the decline, I think that it is merely speculative of the market.

Bitstar_coin

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Am optimistic and hope for an unexpected market reversal, charts may capture some certain aspect of the nature of the market but i know for a fact that some people may be seriously considering the idea of investing in crypto now that the price is cheap, and this may not be part of the chart, they may want to take advantage the cheap price, hopefully some big investors will come along (the Elon Musk caliber) to boost the market back on track again, there where strong believe that btc will hit 100k and above this year so i hoping that it could still happen.

ILuckyGuyI

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Bitcoin price is finally below $30k again. It couldn't break $30k resistance level. Now, I think that it will continue to decrease more. I don't expect the bear market to end before the price falls to $25k. This time it may take more time for Bitcoin to recover and go over $30k again.

buwaytress

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Quote from: jaberwock on July 20, 2021, 08:01:29 AM

That's going to be the key of bitcoin in the future as well and we should probably be focusing on bitcoins opposite movements because that's what it has done way too many times. A bad news about bitcoin? Price going up, a good news about bitcoin? It goes down. It is basically just a thing that bitcoin does constantly and that is just going to be for a thing for bitcoin for a while more basically. I do believe that there is a good chance we could repeat this again very soon as well.

This is a long term thing, the price could still be going down in the near future, in the next week for example because that is what we are going to end up actually "feeling" all of this, I am not expecting them to sell everything right away, that is just something that I think that will take a bit more time and slowly erode the price one by one, so we have to wait a bit more to see it.

Mm hmm. Bad news and good news don't seem to factor in much when it's been anticipated for a while -- Bitcoin market I feel is at that stage where what's foreseeable for the short term is quickly priced in, hence the apparent imperviousness to "news".

It's still the majority sentiment I think that leads the medium-term, and looking six months ahead, those early predictions, as I mentioned, haven't been invalidated. Clear the horizon of short-termers and the skyline looks pretty much the same, perhaps only a little farther away.

ipanks

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Quote from: Dhaniii on July 19, 2021, 12:08:38 PM

Quote from: ipanks on July 19, 2021, 10:13:42 AM

Quote from: janggernaut on July 19, 2021, 08:46:09 AM

Quote from: janggernaut on July 18, 2021, 04:34:27 AM

Strange, today bitcoin price is supposed to dump because of biggest grayscale bitcoin unlock will happen on today. They will unlock almost 17,000 Bitcoin today. But i don't see any dump of bitcoin until this hour, it was even got pump to above $32,000

Just like i thought, finally bitcoin broke $30,800 and it would be go deeper from now. Time to buy some coins and accumulating them on the best time like this. Can't wait too see whether what Robert Kiyosaki said was true or not (he will buy more bitcoin once it hit $24,000)

When bitcoin breaks lower than $30k, the price can still down for more. The next lower price might be at $28k but hopefully, that will not happen because the price can go up anytime. Maybe the dump will be a flash dump and the price will be back to the current price now or it will still go down. This situation is not good for traders and hopefully, they can take a break for a while because the price is still unpredictable. But if the price really gets down below $30k, you need to prepare your cash to buy more bitcoin because it might touch a lower level than that price.

down or up, I guess it's nothing to worry about. If it doesn't go up, the market price will go down. from that side we can see an opportunity and a risk. whether we buy at the right time or take the decision to accept the risk.
I think when all investors are satisfied with their bitcoin holdings, they must expect big profits.

Finally, the bitcoin price touches $29,795 and seems the price will go down but I think the down will not going too fast. This time will make us difficult to determine the time to buy because if we buy now, the price will have a chance to go down.

The investor is still waiting for the next lower price but already bought at the current price for some amount. But some investors are still waiting for more and prepare their money to buy at a low price.

BrewMaster

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There is trouble abrewing

very interesting that price broke the $30k resistance after weeks of manipulation and dumping but surprisingly enough the dumps stopped as if there is nobody else left to sell while they also not buying back either. price is stuck right below $30k (0.8%)!!!
the next 48 hours are going to be very interesting.

jaberwock

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Quote from: buwaytress on July 18, 2021, 05:30:04 AM

Strange and yet not unexpected. Bad news doesn't seem to affect Bitcoin markets as much as they should when they have been anticipated. Same as good news. Remember all those Bitcoin ETFs that eventually happened? Probably all priced in by now and if so, then if this is the worst this item of news could do, bulls must be happy.

Of course, we have an entire week to see this out.

That's going to be the key of bitcoin in the future as well and we should probably be focusing on bitcoins opposite movements because that's what it has done way too many times. A bad news about bitcoin? Price going up, a good news about bitcoin? It goes down. It is basically just a thing that bitcoin does constantly and that is just going to be for a thing for bitcoin for a while more basically. I do believe that there is a good chance we could repeat this again very soon as well.

This is a long term thing, the price could still be going down in the near future, in the next week for example because that is what we are going to end up actually "feeling" all of this, I am not expecting them to sell everything right away, that is just something that I think that will take a bit more time and slowly erode the price one by one, so we have to wait a bit more to see it.

aoluain

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Quote from: snipie on July 20, 2021, 06:38:41 AM

Although fluctuations occur every so on and it is classic and normal but seeing the bitcoin price drops under $30k, $29630 exactly on preev, made me pissed. There will be a bounce at some point for sure but when?
I expect $28k by tomorrow then +$30k again by the end of the week. Such price isn't profitable for anyone.

And for myself also, I'm so pi$$ed, I will need to spend some Bitcoin next week obviously
at an inopportune time, only positive thing is I will most certainly be buying what I sell back
at some point.

ATM there are more sellers than buyers, excluding myself the general trend is when the prices
are falling people will sell, when the prices are rising people will buy, its obvious really I know.

What will be the trigger to turn the current trend I wonder?

snipie

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Although fluctuations occur every so on and it is classic and normal but seeing the bitcoin price drops under $30k, $29630 exactly on preev, made me pissed. There will be a bounce at some point for sure but when?
I expect $28k by tomorrow then +$30k again by the end of the week. Such price isn't profitable for anyone.

hugeblack

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My barrier is at $28700, as this is the level from which the price rebounded quickly in the previous period. To stay at $30 800 or $31 800 barrier, which we have been testing for the past period, more food may cause the price to make the price lower at levels of 27000 thousand or even 24000 thousand, but we will quickly return to the rise quickly with any talk that leads to stop manipulating the market.

I will be afraid if we drop below 18,000, something that will not happen soon. I guess Grin

onecall123

sr. member

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Although time is crucial, it's confirmed that level of $28100-28800 will serve as a key support level. People sold more than they bought. So there you go. Positive thing is, we have a big buy order between $28000 and $29500, so we have support. There isn't always a large amount of money driving prices up. Occasionally, they are doing the opposite so that they can buy cheap.

adaseb

legendary

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Support is currently now at $28800 because it was the lowest value a few weeks back. The $30800 or $30000 is not really real support. And $28800 might get broken but we can still close above it so you need to becareful.

What confirmation you need to prove that the $30K support was indeed broken and will head towards $20K is that it needs to stay below $28800 for a long period of time, best would be at least 24 hours. And then everybody would get confirmation that its not going up and would start to go short or sell their coins.

Similar to what happened back in Nov 2018, we broke $6K and stayed below $6K for a day or two before we resumed our bearish trend to the downside.

Dave1

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Quote from: BrewMaster on July 19, 2021, 12:18:36 PM

Quote from: Symmetrick on July 17, 2021, 07:15:30 AM

Do you think Bitcoin will break through the key support level of $30 800? The situation, frankly speaking, is not rosy on the daily chart. Undecided

in my experience only the "round numbers" are the key levels for both support and resistance. everything else is passing by. as you can see now price has been below $30800 but above $30000 for some time now and nothing has changed because there was no significance to $30800.

Yep, $30k is the current support and it seems to be holding although by the closest of the market.

This week I have seen the market trying to break $32k, but not enough push and momentum.

And because of the news about the GBTC unlocking, it seems the market is somewhat affect, but the good news is that we did go below $30k. Charts might not be rosy, but still no massive dump happening.

BrewMaster

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There is trouble abrewing

Quote from: Symmetrick on July 17, 2021, 07:15:30 AM

Do you think Bitcoin will break through the key support level of $30 800? The situation, frankly speaking, is not rosy on the daily chart. Undecided

in my experience only the "round numbers" are the key levels for both support and resistance. everything else is passing by. as you can see now price has been below $30800 but above $30000 for some time now and nothing has changed because there was no significance to $30800.

Dhaniii

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Quote from: ipanks on July 19, 2021, 10:13:42 AM

Quote from: janggernaut on July 19, 2021, 08:46:09 AM

Quote from: janggernaut on July 18, 2021, 04:34:27 AM

Strange, today bitcoin price is supposed to dump because of biggest grayscale bitcoin unlock will happen on today. They will unlock almost 17,000 Bitcoin today. But i don't see any dump of bitcoin until this hour, it was even got pump to above $32,000

Just like i thought, finally bitcoin broke $30,800 and it would be go deeper from now. Time to buy some coins and accumulating them on the best time like this. Can't wait too see whether what Robert Kiyosaki said was true or not (he will buy more bitcoin once it hit $24,000)

When bitcoin breaks lower than $30k, the price can still down for more. The next lower price might be at $28k but hopefully, that will not happen because the price can go up anytime. Maybe the dump will be a flash dump and the price will be back to the current price now or it will still go down. This situation is not good for traders and hopefully, they can take a break for a while because the price is still unpredictable. But if the price really gets down below $30k, you need to prepare your cash to buy more bitcoin because it might touch a lower level than that price.

down or up, I guess it's nothing to worry about. If it doesn't go up, the market price will go down. from that side we can see an opportunity and a risk. whether we buy at the right time or take the decision to accept the risk.
I think when all investors are satisfied with their bitcoin holdings, they must expect big profits.

ipanks

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Quote from: janggernaut on July 19, 2021, 08:46:09 AM

Quote from: janggernaut on July 18, 2021, 04:34:27 AM

Strange, today bitcoin price is supposed to dump because of biggest grayscale bitcoin unlock will happen on today. They will unlock almost 17,000 Bitcoin today. But i don't see any dump of bitcoin until this hour, it was even got pump to above $32,000

Just like i thought, finally bitcoin broke $30,800 and it would be go deeper from now. Time to buy some coins and accumulating them on the best time like this. Can't wait too see whether what Robert Kiyosaki said was true or not (he will buy more bitcoin once it hit $24,000)

When bitcoin breaks lower than $30k, the price can still down for more. The next lower price might be at $28k but hopefully, that will not happen because the price can go up anytime. Maybe the dump will be a flash dump and the price will be back to the current price now or it will still go down. This situation is not good for traders and hopefully, they can take a break for a while because the price is still unpredictable. But if the price really gets down below $30k, you need to prepare your cash to buy more bitcoin because it might touch a lower level than that price.

janggernaut

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Quote from: janggernaut on July 18, 2021, 04:34:27 AM

Strange, today bitcoin price is supposed to dump because of biggest grayscale bitcoin unlock will happen on today. They will unlock almost 17,000 Bitcoin today. But i don't see any dump of bitcoin until this hour, it was even got pump to above $32,000

Just like i thought, finally bitcoin broke $30,800 and it would be go deeper from now. Time to buy some coins and accumulating them on the best time like this. Can't wait too see whether what Robert Kiyosaki said was true or not (he will buy more bitcoin once it hit $24,000)

barota

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in my opinion i think , if you talk about support $30 800 for the short term , prices bitcoin can rise from the support always to 40000$ , but after some months,who know if prices to reach even 20000$ or not ,the prediction of prices bitcoin is very dificult because sometime , news and fud effect on the market then for sure pump and dump we've seen this type of rise and fall on prices before because of news always

hatshepsut93

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I think we will, in the past bear markets the price didn't plunge by 80% in an instant, it was a long process that took about a year. This current stagnation and slow decline falls within the pattern of previous bear markets. But I don't believe that we will drop as low as -80% from the ATH, this bull run was smaller and it would be logical to have a smaller bear market. 80% crash would put us at $12.8k which isn't farm from were we started. I think $18-22k bottom is more reasonable.

Dhaniii

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Quote from: ?? on ??

Quote from: Dhaniii on July 18, 2021, 11:05:49 AM

Analysts are confused lately about market movements. they cannot determine the truth of the current graph, in general they can guess and can only be limited to predictions. the current market is very confused making investors unable to sleep well.

It may not be just that. There are also those who give the community the analytics they "need". More often than not, these forecasts are manipulative in nature and are designed to nudge people to buy or sell assets in order to raise or lower the price, respectively. I do not trust any public statements regarding the future price of bitcoin, especially if they are some analysts from banks or funds.

Quote from: El duderino_ on July 18, 2021, 11:09:41 AM

All TA is flawed Kiss

That is why use graphical analysis rather than technical analysis. Cheesy

I myself don't believe in the current public analysis of bitcoin, it needs a lot of accurate sources for this case before deciding to buy or not.
Don't be a sheep that falls in the same hole three times, it's really embarrassing.
especially the analysts who have a correlation with the project being carried out, surely they have a reason that drives and the success of their project.

El duderino_

legendary

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Quote from: magneto on July 18, 2021, 04:42:09 AM

Personally I think it's a matter of time before a correction takes us down under.

There is simply too much bearish sentiment in the market right now. The FOMO mania is all but past us and I don't think that will return for at least until the next halving cycle.

I think that we'll steadily decline to around the $20k level, test the support there, and potentially go even lower than that. $30k support is going to be transitory.

Either way though, this is a great opportunity to accumulate if you are looking to get into BTC for the long run. Start your DCA schedule.

Ooooow 20k and lower for next few years

Thx for the info, good to hear you say all sentiment is bearish

Totally different in my world, but probably I’m wrong

Though I’ll keep my own thinking in this one

Cheers

El duderino_

legendary

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BTC + Crossfit, living life.

Eeeuhm eeeuhm

All TA is flawed Kiss

Though good work keep the spirit keep painting lines Cool

I’m maybe just the to overly bullish fool that sees a possible RISE happening every damn second

35-40 next week ? Or the week after let’s see

Dhaniii

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Quote from: Symmetrick on July 17, 2021, 07:15:30 AM

Do you think Bitcoin will break through the key support level of $30 800? The situation, frankly speaking, is not rosy on the daily chart. Undecided

We have already come close to this level. If you look at the chart from May 17, then we have already tested this level 6 or 7 times and now another test awaits us. Traders are well aware that if a certain level is frequently tested, then sooner or later it will still break through. It is also worth paying attention to constantly falling tops, from which the fall begins. At first it was $40 700, then $36 000, then $35 000, $34 000. And now bitcoin cannot rise above $32 000. The price is constantly pushed and brought as closely as possible to the key support level. If we break it, then the price can rush to $26 000 - $28 000.

Unless a miracle happens and a large green candlestick is drawn right near the support level, which will break the local downtrend and draw a reversal pattern.

Analysts are confused lately about market movements. they cannot determine the truth of the current graph, in general they can guess and can only be limited to predictions. the current market is very confused making investors unable to sleep well.

Tytanowy Janusz

legendary

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Quote from: magneto on July 18, 2021, 04:42:09 AM

Personally I think it's a matter of time before a correction takes us down under.

There is simply too much bearish sentiment in the market right now. The FOMO mania is all but past us and I don't think that will return for at least until the next halving cycle.

There is bearish sentiment on the market because price goes down. I've never seen a situation in which price was going down while everyone was bullish. Its always like that. Smart money accumulate, smart money push price up, street fomo in. Push to 45k and you will see how bullish everyone will be.

Currently we are in "extreame fear" for 3 months. Price is oversold. There is not much space to go down. We need to test 40-45k and fail to protect there levels to dump to 20k.

buwaytress

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Quote from: janggernaut on July 18, 2021, 04:34:27 AM

Strange, today bitcoin price is supposed to dump because of biggest grayscale bitcoin unlock will happen on today. They will unlock almost 17,000 Bitcoin today. But i don't see any dump of bitcoin until this hour, it was even got pump to above $32,000

Strange and yet not unexpected. Bad news doesn't seem to affect Bitcoin markets as much as they should when they have been anticipated. Same as good news. Remember all those Bitcoin ETFs that eventually happened? Probably all priced in by now and if so, then if this is the worst this item of news could do, bulls must be happy.

Of course, we have an entire week to see this out.

magneto

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Personally I think it's a matter of time before a correction takes us down under.

There is simply too much bearish sentiment in the market right now. The FOMO mania is all but past us and I don't think that will return for at least until the next halving cycle.

I think that we'll steadily decline to around the $20k level, test the support there, and potentially go even lower than that. $30k support is going to be transitory.

Either way though, this is a great opportunity to accumulate if you are looking to get into BTC for the long run. Start your DCA schedule.

janggernaut

legendary

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Strange, today bitcoin price is supposed to dump because of biggest grayscale bitcoin unlock will happen on today. They will unlock almost 17,000 Bitcoin today. But i don't see any dump of bitcoin until this hour, it was even got pump to above $32,000

gabbie2010

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Quote from: Ararbermas on July 18, 2021, 01:29:04 AM

I believe that the current support is still very strong which around $30k. and for me there is no way bitcoin will going further below on that price as it's been tested for how many times since market fell like a rock and its unbreakable. so on this situation its impossible to happen in my view, infact we don't see any reason nowadays why it will continue to decrease more, it's because most of negative news are done already.. Perhaps this is just another correction of the market mate..

That support had been rejecting the price the last attempt to break it was the sitxth attempts with reference to 4 hour chart BTC/USD timefame I believed that zone is a good buying zone when the price dipped down the area this emphasizes the fact that as far as the market price of bitcoin is concerned the bears are still in full control of the market whatever bullish runs experience by price now is more like a bullish trap, the best bet is to buy at the support and sell high after the price made some minor bullish moves and take some profits and wait for another opportunity or the price dip, for now there is no clear indication of the bulls taking over the market, although hodlers can continue to utilize this opportunity buy piecemeal and accumulate perhaps the long term price perceptive of the price resuming it bullish sentiment will favor them, this is not the first time price of bitcoin will experience a major correction, in the previous ones the price later rally upward hopefully before the end of the year the anticipated bullish sentiment will resume.

Ararbermas

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I believe that the current support is still very strong which around $30k. and for me there is no way bitcoin will going further below on that price as it's been tested for how many times since market fell like a rock and its unbreakable. so on this situation its impossible to happen in my view, infact we don't see any reason nowadays why it will continue to decrease more, it's because most of negative news are done already.. Perhaps this is just another correction of the market mate..

LUCKMCFLY

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Bitcoin has been making bullish-style movements, but the pressure from the bears has been very strong, since yesterday they have brought prices to $ 31k, there is a lot of demand but the supply at these levels is a lot, maybe because of This is why the price still does not take a good leap:

Quote

If the price rebounds off the $31,000 to $28,000 zone with strength, it will suggest accumulation at lower levels. The bulls will then try to push the price above the moving averages. A breakout and close above the 50-day simple moving average ($35,084) will be the first sign of a possible change in trend.

Source: https://cointelegraph.com/news/price-analysis-7-16-btc-eth-bnb-ada-xrp-doge-dot-uni-bch-ltc

This weekend can give nice surprises in BTC if the bulls start to push up the price, of course the demand helps a lot if they eliminate the supply to the mens in the range of 435k to $ 35k.

Fesatmas

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Have you seen the accumulation area? What is certain is that if it breaks below the support line, a deeper correction will be clearer.
Or maybe the buyer has returned? whereas a few days ago it was reported that around 2000 BTC was withdrawn. At least there is a reduction in large transactions in the market then the holders hold them for a long time. so if this continues, without us needing to guess again the price of Bitcoin breaks below $30,000.

https://cointelegraph.com/news/traders-are-withdrawing-2-000-btc-from-centralized-exchanges-daily

Tytanowy Janusz

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Quote from: Woodie on July 17, 2021, 07:59:41 AM

The interesting thing at looking at this chart is that the bearish candles keep reducing in size and now we have multiple small red candles on the downwards which are a sign that sellers are losing control of the market and we should be expecting a bullish candle anytime soon as buyers take control of the market, more like the falling wedge as @Tytanowy Janusz as posted.

Red candles are smaller and smaller but green candles are doing the same. Its not because of sellers/buyers losing control. Its because we are locked in 30-40k range for 2 months and volatility goes down and down with every day. Thats normal. Its not like I'm sure about whats going to happened. From chart only ... i would say its 60:40 for testing 40k before final decision (bear or bull market for next 6 months) but from looking at fundamentials together with economy condition (high inflation and everything is pumping) I'm much more bullish than bearish.

Woodie

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The interesting thing at looking at this chart is that the bearish candles keep reducing in size and now we have multiple small red candles on the downwards which are a sign that sellers are losing control of the market and we should be expecting a bullish candle anytime soon as buyers take control of the market, more like the falling wedge as @Tytanowy Janusz as posted.

Tytanowy Janusz

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Quote from: ?? on ??

I have a thought about this. That a breakdown below $30 000 will still take place. This is necessary in order to fold the last long-players, catching a large portion of liquidations and stop-losses. After that, the price will reverse and go to test the powerful resistance at $40 800, marking a trend reversal.

Manipulators will now benefit from the strait in order to knock out even more moment from fearful hamsters. Growth often starts after a big spill, and many believe in the current level at around $30 800 and therefore does not sell. We need to get them to sell. How? Taking away their faith that holds together with this key level of support.

People already put their hope in 31k, broken together with 30k psychological level down to 28 800 in 22nd on Jun. Then everyone was talking about wyckoff accumulation pattern ... broken.

We should be at 42k now.

There is always a way to scare away more investors but ... are bears gonna attack it for +10% risking being liquidated?... 25% monetary inflation does not sleep. Bull run on SP500 does not sleep (BTC/STocks Correlation etc), corporate debt bubble does not sleep (Bitcoin just started to eat its portion of corporate debt bubble cake). Almost wvery single asset last 4 months was pumping ... except BTC. I might be wrong ... not the first time ... but i think that we are closer to huge green candle you were talking about rather than another push down.

The only thing that could scare more invesotrs and push btc below 25k for good is a massive sell-off, massive panic on stocks. SP500 dumping 40%.

Tytanowy Janusz

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I see it more like a falling wedge here with resistance being tested 8 times (one fail breakout). Which used to be a bullish pattern.

And here we are with resistance being tested 8 times and support being tested at least 5 times. On 5m candles we can see how frustrating this moment is with price being smashed down just to be pumped back up, to give up and fall back down etc.

With stoch RSI being at ATL (on weekly candles) ... never held that long that low ... maybe once?. With fear/greed index locked at extreme fear for 3 months. i feal like breaking support will not trigger much more sell-off. Investors are already scared. From 30k down to 27k maybe. Thats -10%. On the other hand. Breaking resistance will push us at least to 42k (+30%). Looks like bulls have much more to earn than bears, resistance was tested more times than support which makes me more bullish than bearish but its like 60:40.

ziyaaa

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It's really hard to predict it precisely in the recent times. Considering the continual fall of Bitcoin price, I guess it will continue until seeing a level below 30k dollars. When we see even a price like that, I think this decrease can continue until seeing 25k dollars.

Symmetrick

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Merit: 11957

ㅤ

Topic: ㅤ (Read 342 times)