3 reasons why BTC will unlikely trade below $50,000 in the near term

bitgolden

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Quote from: cryptomaniac_xxx on March 31, 2021, 07:02:55 AM

^ The price really didn't break the $60k barrier, we almost did, but instead, we've seen a selling pressure. Which do usually happen if we are trying to break a big barrier and we are not successful. I'm sure that tomorrow will be another day, and hopefully if will be a different outcome this time. We all wanted to see a new ATH and or at least a $60k price, so let's see.

It's obvious that we are going to, it's impossible at this point to not reach 60k price, I know that each time we reach there it stops and we end up going lower, last time it almost went under 50k as well, but each time we recover and make a push for breaking it, having broken 60k once as well. So, I am talking about something that's more interesting here, the fact that we are not falling that much and yes we may fail to break over 60k this time, but how many times do you think it will happen? One more? Two more?

Eventually if we decline to go down that means we are going to end up pushing 60k once more and then we will be above it. That's what I believe we will see, price will go up, and we are going to be quite heavily above what we are right now. And I mean something like 70 or eve 80 thousand dollars that would be possible.

cryptomaniac_xxx

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^ The price really didn't break the $60k barrier, we almost did, but instead, we've seen a selling pressure. Which do usually happen if we are trying to break a big barrier and we are not successful. I'm sure that tomorrow will be another day, and hopefully if will be a different outcome this time. We all wanted to see a new ATH and or at least a $60k price, so let's see.

sunsilk

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Quote from: michellee on March 30, 2021, 09:00:22 AM

Quote from: sunsilk on March 27, 2021, 05:13:04 AM

Quote from: michellee on March 26, 2021, 09:14:55 AM

I hope bitcoin will not go down for below $50,000 in the near term before I can close my trade and take profit Grin

Close your trade and set it automatically so that you won't be panicking if ever it will do. But there's still the probability that it will but just like you, we don't want to see it go low down again.

I already close my trade when the bitcoin price can increase, so I do not think more about the price. Now, I only want to wait for another downtrend that will comes after the price increase. But if the price still increases, I have some more bitcoin ready to sell at the next higher price because I think the price can break $61k or more. Hopefully, the price does not drop again as before, but I will make sure to buy more bitcoin if that happens.

As I'm looking at the price lately, it didn't break $60k and there's again a liquidation which made bitcoin drop by $2k. The highest for this day was $59k and I thought that we're be breaking the $60k again but it didn't and as of now, the price calmly stays at $57,900.

Quote from: SquallLeonhart on March 30, 2021, 10:33:24 AM

That's right, we could drop a bit, those 20-30% drops are not a big deal, sure that would mean that we would be in the under 50k places, but I think that could happen after we increased as well. What people are not understanding is that last time in 2017 when these sales happened, people were mad that they were too late and they sold anyway, price kept going down more and more constantly, that was what people did, however we are talking about something that's entirely different, prices go down and people see it as cheap discounted bitcoin this time around.

This is why I think it's quite obvious that we are not going to make that much change anymore, we will probably go up faster once again because when it goes up, it goes up very fast and that's what we will have because we tried to go down and whales sold but it's not dropping much so only way to go is up now.

The trend for bitcoin for going up makes it different this time. While we've seen it broke the last ATH for 2017 and even more from last year's ending up to this moment, this makes us believe that it's unlikely to see bitcoin at a lower price again, although things can change in instant.

SquallLeonhart

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Quote from: sunsilk on March 30, 2021, 04:59:52 AM

I think if many traders will sell which usually they're doing as they won't be called trader if they'll just hold together with the whales, there will be other whales and traders that are prepared to buy those bitcoins that they'll be selling.

That percentage that you have given isn't that much compared to the pump that we've taken from bitcoin since the end of the year 2020. Anticipate correction as it's always going to happen whenever bitcoin goes up.

That's right, we could drop a bit, those 20-30% drops are not a big deal, sure that would mean that we would be in the under 50k places, but I think that could happen after we increased as well. What people are not understanding is that last time in 2017 when these sales happened, people were mad that they were too late and they sold anyway, price kept going down more and more constantly, that was what people did, however we are talking about something that's entirely different, prices go down and people see it as cheap discounted bitcoin this time around.

This is why I think it's quite obvious that we are not going to make that much change anymore, we will probably go up faster once again because when it goes up, it goes up very fast and that's what we will have because we tried to go down and whales sold but it's not dropping much so only way to go is up now.

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Quote from: sunsilk on March 27, 2021, 05:13:04 AM

Quote from: michellee on March 26, 2021, 09:14:55 AM

I hope bitcoin will not go down for below $50,000 in the near term before I can close my trade and take profit Grin

Close your trade and set it automatically so that you won't be panicking if ever it will do. But there's still the probability that it will but just like you, we don't want to see it go low down again.

I already close my trade when the bitcoin price can increase, so I do not think more about the price. Now, I only want to wait for another downtrend that will comes after the price increase. But if the price still increases, I have some more bitcoin ready to sell at the next higher price because I think the price can break $61k or more. Hopefully, the price does not drop again as before, but I will make sure to buy more bitcoin if that happens.

sunsilk

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Quote from: skarais on March 29, 2021, 01:54:37 PM

Quote from: sunsilk on March 29, 2021, 12:24:11 PM

I don't have experience at the earliest time of bitcoin but isn't it that bitcoin was volatile and resilient based from the price history that it had before?

But anyway, it's really doing better these days and that's why we're having a good time and not thinking of how long this will end because in our minds, this bull run would take up for a long time maybe until next year or even more, we don't know.

More and more companies are buying bitcoin and the domino effect has started since even before the bull run has ever started.

We all know that 2021 is a different year from 2017. A lot of support has come from big investor this year which has been a strong fundamental factor in saying that bitcoin will no longer trade below $50K. But I believe this rising cycle will not last much longer if a wave of panic traders detect the presence of whales looking to sell their bitcoin. -20% to -30% is still possible. Correction is still very possible even though the support continues to increase, this volatility has provided many profit for trader.

I think if many traders will sell which usually they're doing as they won't be called trader if they'll just hold together with the whales, there will be other whales and traders that are prepared to buy those bitcoins that they'll be selling.

That percentage that you have given isn't that much compared to the pump that we've taken from bitcoin since the end of the year 2020. Anticipate correction as it's always going to happen whenever bitcoin goes up.

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Quote from: skarais on March 29, 2021, 01:54:37 PM

Quote from: sunsilk on March 29, 2021, 12:24:11 PM

I don't have experience at the earliest time of bitcoin but isn't it that bitcoin was volatile and resilient based from the price history that it had before?

But anyway, it's really doing better these days and that's why we're having a good time and not thinking of how long this will end because in our minds, this bull run would take up for a long time maybe until next year or even more, we don't know.

More and more companies are buying bitcoin and the domino effect has started since even before the bull run has ever started.

We all know that 2021 is a different year from 2017. A lot of support has come from big investor this year which has been a strong fundamental factor in saying that bitcoin will no longer trade below $50K. But I believe this rising cycle will not last much longer if a wave of panic traders detect the presence of whales looking to sell their bitcoin. -20% to -30% is still possible. Correction is still very possible even though the support continues to increase, this volatility has provided many profit for trader.

It's tough to predict as behaviors coming from new and old timers are relying with how bitcoin will perform, so far it's still showing
bullish as corrections that take place earlier are now bouncing back again.
With this line of support coming from institutional investors the chance that it will continue to step up is very possible, though there
are also pressures once those so called whales play along and bring everything to fall and be followed by weak holders, we just have
to work along the line to have a much lesser risk and to try maximizing the benefits.

skarais

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Quote from: sunsilk on March 29, 2021, 12:24:11 PM

I don't have experience at the earliest time of bitcoin but isn't it that bitcoin was volatile and resilient based from the price history that it had before?

But anyway, it's really doing better these days and that's why we're having a good time and not thinking of how long this will end because in our minds, this bull run would take up for a long time maybe until next year or even more, we don't know.

More and more companies are buying bitcoin and the domino effect has started since even before the bull run has ever started.

We all know that 2021 is a different year from 2017. A lot of support has come from big investor this year which has been a strong fundamental factor in saying that bitcoin will no longer trade below $50K. But I believe this rising cycle will not last much longer if a wave of panic traders detect the presence of whales looking to sell their bitcoin. -20% to -30% is still possible. Correction is still very possible even though the support continues to increase, this volatility has provided many profit for trader.

wiss19

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Quote from: nikolastech on March 25, 2021, 10:55:17 AM

3 reasons why BTC will unlikely trade below $50,000 in the near term and up from here

https://cointelegraph.com/news/3-reasons-why-btc-will-unlikely-trade-below-50-000-in-the-near-term

Lol so what if you’re wrong about that and the price starts increasing are you going to buy back or just stay back? Although I am just noticing that the price has decreased to $50,000, but something like this happened earlier before the price jumped to $62,000 and you know for sure there is the possibility of it repeating itself again.

Though from another angle we can agree that you with some reasons yet bitcoin still remain stronger regardless of those things because it’s been triggered by institutional investors now and the price has just being going up, it can crash at anytime and maybe that’s what will be happening by next year but definitely not going bellow $50,000 levels.

sunsilk

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Quote from: FanEagle on March 27, 2021, 12:15:41 PM

Quote from: sunsilk on March 27, 2021, 05:13:04 AM

A very common character of bitcoin is being resilient. While there were many that have seen to panic when it has been dipping, they haven't seen to that point that bitcoin is very resilient no matter how low it will go.

I do not think that bitcoin has been resilient that much before, not back in the day, we had whales who pumped and dumped bitcoin however they wanted and that was a thing that they did for a long time. These days we are doing better because we are in a world where bitcoin is not doing that bad and it is high and we are seeing that whales are just companies these days and not early birds.

We had a lot of people who bought bitcoin at low prices, prices that are under 10 dollars, they had thousands of bitcoins, and back in the day those people were capable of changing the price easily, we weren't resilient back in those days. However we are doing better now, and companies are buying in billions, just in this past 400 days we had over 10 billion dollars worth of bitcoin bought and stored and not sold so far. That's a big deal and that matters, we became resilient thanks to that.

I don't have experience at the earliest time of bitcoin but isn't it that bitcoin was volatile and resilient based from the price history that it had before?

But anyway, it's really doing better these days and that's why we're having a good time and not thinking of how long this will end because in our minds, this bull run would take up for a long time maybe until next year or even more, we don't know.

More and more companies are buying bitcoin and the domino effect has started since even before the bull run has ever started.

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Quote from: Ridwan Fauzi on March 27, 2021, 04:39:36 PM

Technically yes, I support that bitcoin will not fall to $50.000 and below. There is an indication that its price movement will try to reach $60.000 again because there is an engulfing candle in the strong support and the next candle will be formed as a green candle as well which will indicate that the increasing price will still continue.

The mass adoption is coming, there is just a few chance for its price will drop like a few years ago. And the Elon Musk's intention will give a plus value for some investors to keep hold their bitcoin until its price reach $100.000 and more. Yeah, I guess $100.000 is the next price for some whales and they will never sell their bitcoin before reach $100.000.

That's right, it looks like weekly is on our side and the candles all looking green and healthy. I do believe that we are in a situation where buying bitcoin is still a great choice, short future people tried to drop it, 6 billion dollars worth of futures all in cash now (well in bitcoin) all causing it to go down, basically there was a test to see if it will go down or not, but the reality is that we are not dropping anywhere anytime soon, it's not going to be like that at all.

Of course it's not going to be incredibly easy to go up neither, it's going to take a bit of money to get there but I believe over 60k is possible once more. When we test that, the result will be great and we are all going to be happy about it, when it goes up everyone gets together, people get hyped, that's why it's called a bull run, because we move in packs to buy not to miss out on it.

STT

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BTC found the 50 day, the monthly and weekly as support recently so near term its quite certain it's acting quite bullish in its price action.

See if price can establish above 57508 on 4hr bars, so long as DXY does not move upwards I guess BTC has finished its selling already. Just meeting 50 day average was enough to end that period of selling, same as happened during January.
Longer term dollar index keeping above 92 makes me think we should be prepared for Bitcoin to face further headwinds as larger markets are still tightening against speculation and non yielding assets.

davis196

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Quote from: nikolastech on March 25, 2021, 10:55:17 AM

3 reasons why BTC will unlikely trade below $50,000 in the near term and up from here

https://cointelegraph.com/news/3-reasons-why-btc-will-unlikely-trade-below-50-000-in-the-near-term

That article is a boring to read wall of text and I didn't understand most of the reasons.
I don't care about the derivatives market and Bitcoin futures and not my priority.
I couldn't care less about the US consumer spending in April.
In summary,Bitcoin price might face a correction and go below 50K USD in the short term,but in the long term Bitcoin remains very bullish and the investors/HODLers are optimistic.
I don't have to read a pointless Cointelegraph article,in order to know this information.

New.in.trading

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Quote from: New.in.trading on March 26, 2021, 04:41:31 AM

Quote from: nikolastech on March 25, 2021, 10:55:17 AM

3 reasons why BTC will unlikely trade below $50,000 in the near term and up from here

https://cointelegraph.com/news/3-reasons-why-btc-will-unlikely-trade-below-50-000-in-the-near-term

I am not sure, but IF BTCUSD would drop below the 50k, I know I would wait for 45k before even considering buys:

BtcUsd closed above, retested that level, off to moon. I closed my position earlier though. Yesterday when that first bearish candle closed below the bullish one, in the sell Area, that was my exit. No need to be greedy, but need to be picky!

Ridwan Fauzi

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Technically yes, I support that bitcoin will not fall to $50.000 and below. There is an indication that its price movement will try to reach $60.000 again because there is an engulfing candle in the strong support and the next candle will be formed as a green candle as well which will indicate that the increasing price will still continue.

The mass adoption is coming, there is just a few chance for its price will drop like a few years ago. And the Elon Musk's intention will give a plus value for some investors to keep hold their bitcoin until its price reach $100.000 and more. Yeah, I guess $100.000 is the next price for some whales and they will never sell their bitcoin before reach $100.000.

FanEagle

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Quote from: sunsilk on March 27, 2021, 05:13:04 AM

A very common character of bitcoin is being resilient. While there were many that have seen to panic when it has been dipping, they haven't seen to that point that bitcoin is very resilient no matter how low it will go.

I do not think that bitcoin has been resilient that much before, not back in the day, we had whales who pumped and dumped bitcoin however they wanted and that was a thing that they did for a long time. These days we are doing better because we are in a world where bitcoin is not doing that bad and it is high and we are seeing that whales are just companies these days and not early birds.

We had a lot of people who bought bitcoin at low prices, prices that are under 10 dollars, they had thousands of bitcoins, and back in the day those people were capable of changing the price easily, we weren't resilient back in those days. However we are doing better now, and companies are buying in billions, just in this past 400 days we had over 10 billion dollars worth of bitcoin bought and stored and not sold so far. That's a big deal and that matters, we became resilient thanks to that.

sunsilk

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Quote from: decodx on March 26, 2021, 06:35:52 AM

Quote from: sunsilk on March 26, 2021, 05:29:27 AM

Whether it won't drop below $50k or it will, we have been on a great deal already since the start of his year and I hope it lasts until next year.

I think the same. It dipped to the $50,000 support area but managed to recover quickly. Overall, BTC remains supported on the downside. Momentum indicators flashed red, signaling a possibility of a corrective rally in the short term, but also indicating potential gains in the long run.

A very common character of bitcoin is being resilient. While there were many that have seen to panic when it has been dipping, they haven't seen to that point that bitcoin is very resilient no matter how low it will go.

Quote from: michellee on March 26, 2021, 09:14:55 AM

I hope bitcoin will not go down for below $50,000 in the near term before I can close my trade and take profit Grin

Close your trade and set it automatically so that you won't be panicking if ever it will do. But there's still the probability that it will but just like you, we don't want to see it go low down again.

SquallLeonhart

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I am finding these type of topics funny and they are getting more frequent as well. Just because bitcoin went down a bit, doesn't mean that it will go down all the time, and every time there is even one drop, they end up saying it is going down. What's so interesting about bitcoin crashing for these people? What do they love about it? I mean we all know that it is not going to happen, so why try to hope for something like that?

I do not think that it would happen, and I think it will always stay high from now on, maybe under 50k is possible but I think even under 40k is very difficult from now on, why do we keep trying to find "how it will go down soon!!!!1!!1!" for some reason? Like is that a good thing? Are you hoping it will go down so that you could buy some? Do you hate people who made money so you want them to lose? What is the point when you failed over and over and over again?

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I hope bitcoin will not go down for below $50,000 in the near term before I can close my trade and take profit Grin

If that happens, I think I will prepare more money to buy bitcoin if the next downtrend is below $50,000. I think the price now is good to trade, and if you do not chase to search for a bigger profit, you can close your trading with a small profit. You can wait for the price to go down below $50,000 and then buy it at that lowest price.

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Phew, I saw that we almost took 50k support away in the past 24 hours. Not that we still will not, but it does look like the bears and sellers are trying really hard and we can only see this level of dip? Not 20% dip many people are talking about yet so it seems like a good position to be in on Friday!

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