3 reasons why BTC will unlikely trade below $50,000 in the near term - page 2.

decodx

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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.

sunsilk

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And with speculations and people comparing this month to last year, we are seeing that there's really a big change and very different from last year. Whilst, some are waiting for a bigger correction, IIRC, yesterday was likely the third big correction that we had experienced since we have entered the bull run.

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.

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Quote from: cabron on March 25, 2021, 08:35:07 PM

That's a very bullish way of convincing investors to join.
Traders are seeing it differently when they see the charts that the rise isn't sustainable. This is why they are predicting at least it will take months before getting back up to its feet again and while it's happening, a slow decline of price to maybe around $40-45K will take place. The advice I got was to wait a little longer before buying BTC again.

It is characteristic of bull markets that resistance becomes support. We will see if what the article says is true. I believe that the 50k is behaving as a support, and that we will reach $100k little by little, without much trouble.

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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

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

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This utterly brings good news for holders who expect the price of bitcoin to go higher.

$50000 is absolutely a big resistance and it will expressly reduce the dense of the bear. The new rally will soon form around this point. Perhaps bitcoin can move slightly below $50000 (about $49000, I guess) but that's it. It will once again show us the strength of the number one cryptocurrency

Moreover, during this point, many people are optimistic about amassing more bitcoin, and with the quality of newcomers, bitcoin is able to sustain the current bear run

bolawin

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Quote from: pooya87 on March 26, 2021, 01:16:06 AM

Quote from: bolawin on March 25, 2021, 11:04:30 AM

you sure? i though people say its normal for 20%-30% correction Huh

It is only normal when it happens after a big rise. Think of it as taking 10 steps forward and 3 steps backward. If you take 3 steps forward and then 5 steps backward then that is not normal specially in a bull market, then we can no longer call the 20% to 30% drop a "correction" which is the case right now since from $62k to $50k is already a 20% drop and it is happening after a very small rise from 2 months ago which makes the current price only 8% higher!

so you saying this is bear market now?

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Quote from: bolawin on March 25, 2021, 11:04:30 AM

you sure? i though people say its normal for 20%-30% correction Huh

It is only normal when it happens after a big rise. Think of it as taking 10 steps forward and 3 steps backward. If you take 3 steps forward and then 5 steps backward then that is not normal specially in a bull market, then we can no longer call the 20% to 30% drop a "correction" which is the case right now since from $62k to $50k is already a 20% drop and it is happening after a very small rise from 2 months ago which makes the current price only 8% higher!

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Quote from: Zemomtum on March 25, 2021, 06:58:57 PM

This is just a normal correction as all indications still prove that the uptrend is still intact. 50k has been tested severally today and bears were unable to go beyond this level which is key resistance. I am of the opinion that we are going ti see a renounce to 70k from this level.

After yesterday's strong volatility, look back at the beginning of March with the support resistance at 44k at that time. and the spectacular BTC rally at the new ATH is $ 61k. So, if the bears lose an advantage at $ 50k during this corrective period, we could see that the additional demand from institutional investors will be greater, Futures premiums still increase, whichever This also triggered stronger sentiment in stable cash flows. $ 85k will be the next ATH station. Good time to earn more beef!

tbct_mt2

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Quote from: cabron on March 25, 2021, 08:35:07 PM

That's a very bullish way of convincing investors to join.
Traders are seeing it differently when they see the charts that the rise isn't sustainable. This is why they are predicting at least it will take months before getting back up to its feet again and while it's happening, a slow decline of price to maybe around $40-45K will take place. The advice I got was to wait a little longer before buying BTC again.

Media channels are used to convince people that bitcoin won't be sold out to lower price in short term.
Bitcoin Traders Keep Buying the Dip, Blockchain Data Suggests
Bitcoin Options Traders Position for Gains (to $80K?) in Historically Bullish April

Believe those news or not, it is your side but believe in bitcoin or not, you don't need to read those articles and news. Your belief in bitcoin should be put on the Whitepaper, Protocol consensus, the block halving schedule, the total suppply and the bright future of bigger adoption.

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That's a very bullish way of convincing investors to join.
Traders are seeing it differently when they see the charts that the rise isn't sustainable. This is why they are predicting at least it will take months before getting back up to its feet again and while it's happening, a slow decline of price to maybe around $40-45K will take place. The advice I got was to wait a little longer before buying BTC again.

plr

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Quote from: arufox on March 25, 2021, 06:21:34 PM

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

If Below $50K I think this is still possible in the near term, Current price of Bitcoin is $52K so I think still possible even though 50K is strong support, remember crypto is unpredictable. Whatever will happen next I just want to say don't miss the opportunity, It's time to buy and hold

We really never know what they are telling us is technical analysis but we never know what other whales are thinking it takes a group of whales to make the market drop and small and weak hands will follow, anything is possible in a highly volatile market, I will not use the word unlikely, when things are looking obvious.

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This is just a normal correction as all indications still prove that the uptrend is still intact. 50k has been tested severally today and bears were unable to go beyond this level which is key resistance. I am of the opinion that we are going ti see a renounce to 70k from this level.

milewilda

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Quote from: bolawin on March 25, 2021, 11:04:30 AM

you sure? i though people say its normal for 20%-30% correction Huh

Definitely normal but there are people who do easily freak out when they do see 5-10% drop in a course of day or a couple without even thinking that these are just casual price corrections.
It is just there are news or fundamentals which could be automatically attached into these kind of events where people do presume out to be the main reason of such dip but honestly
we cant really point out fingers if those are precise reasons on why we do have this price decline. Trading below 50k on near term? It doesnt matter because
people could easily adapt through it and also this is a good time on buying out cheaper coins.

arufox

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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

If Below $50K I think this is still possible in the near term, Current price of Bitcoin is $52K so I think still possible even though 50K is strong support, remember crypto is unpredictable. Whatever will happen next I just want to say don't miss the opportunity, It's time to buy and hold

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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

Cointelegraph is famous for the big media in the crypto currency world, yes we know that, and now they provide this important news, whether they are just opinions or facts, if from the analysis $ 50k is strong support and at that time the breakdown might just be a wick on $ 48k to $ 49k happens, yes, it really helps the big media to provide analysis, and I hope that the holders and traders will not experience panic.

AakZaki

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This is the hope of many traders. They expect the BTC price to increase or stabilize. With stable or rising prices, if you look at the current trend, altcoins will follow it. But if you remember that every increase there is a decrease, this will happen over buy, the market is saturated. this is natural. I do see that there is indeed strong support in the $ 50k area. A few days ago there was a rebound, this seems to be the effect of a tweet from Elon Musk. So the price came back - + $ 57k yesterday.

tbct_mt2

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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

Bitcoin will rally above $50,000 and it will have another all time high. Today, people are shorting bitcoin with big power on the market. More than 80% positions on Bitfinex are SHORT.

Do you think bitcoin will suddenly rise too strong and liquidate all short positions? I think bitcoin will fall more and liquidations will be on people who don't control their short positions. They short successfully, take profit but open their second, third or fourth short position. The last short position of them will kill them.

bolawin

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you sure? i though people say its normal for 20%-30% correction Huh

nikolastech

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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

Topic: 3 reasons why BTC will unlikely trade below $50,000 in the near term - page 2. (Read 343 times)