$30000 is becoming the resistant price - page 6.

bitterguy28

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Quote from: Husires on July 20, 2023, 03:31:12 AM

Re-testing the $28,000 to $26,000 levels means that next time we will most likely break the $32,000 level, as it will not hold as it happened the last time.

if that will be the dropping point then indeed that even 35k will be broken any time from that period .
we have been waiting for 32k and above because for how many times this year that the price attempted to take that boarder but suddenly we are failure.

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And do not forget that it is summer and holidays, there is no significant change in the price.

holidays and summer truly affecting the growth as more of us taking their funds out or at least to make less investing as there are more priorities and expenses but once its over then better days will come and yes this is the preparation for the coming Halving and Bull running.

ScamViruS

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Bitcoin has crossed the $31000 level several times in the last few weeks and has not been able to stay there. And right now Bitcoin is trading below the $30000 level as I write this post, but it seems to me that there are still a lot of buyers who are buying so that every time the bears want to take full control, they don't break. The market is now in a state that is confusing even expert traders due to excessive volatility.

If Bitcoin trades below $29200 then we might see a red market for a few more days. Bitcoin's movements over the past few weeks have been very disappointing for high leverage traders. Because wherever they were opening trades long/short, the market was moving them in the opposite direction. So now it will be risky to trade bitcoin on the market (leverage trading). So it would be wise to wait patiently and try to predict the next move of the Bitcoin market.

darewaller

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Quote from: Silberman on July 21, 2023, 01:58:58 AM

Quote from: n0ne on July 20, 2023, 06:59:41 PM

We can't be sure of the bear/bull market. $30k is the resistance region, because the price have been moving around it for a long time. The price is expected to grow and reach the next barriers, but the required push isn't achieved. For now the price of bitcoin have dropped a little and this looks like the corrective movement is happening. Maybe once after this we can expect the price to make a big bounce.

It is possible the price is going to remain at those levels for a very long time, after all it is difficult for the price to go any lower as if it did then investors will take advantage of it immediately and the price will go return to the current levels, but surpassing 30k in a definite way is also proving to be a challenge, and this is because we are getting close to half the ATH we reached on 2021, and when the halving is still months away such a high price seems unjustified.

We are definitely getting close there which is why it is going to take some time but also when it breaks over it, when that time comes, you will see that it will happen very quickly as well. We do not know when it will happen, maybe it will take months but the problem is that something that has been low for many years, will go up in a week above what we could even imagine.

That is literally how it went from under 20k to 25k levels for examples, it was around 16k and reached 25k in about 10 days, it didn't take that long, maybe even less, and then the same thing when it reached 30k as well. So be ready for it to change a lot, because in the end it doesn't stay at the same level and the changes are quite frequent when they happen.

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Quote from: n0ne on July 20, 2023, 06:59:41 PM

Quote from: Onyeeze on July 20, 2023, 05:37:31 PM

Their is something I want to know of bitcoin price since it is being at one price since because the price of bitcoin have not reached 40000 in price since the increment started why is that it still clamp the rang of 30000 and 31000 instead of clamping up to add values to the already one, so that is what the market needs but it have being constant in 30000, does it mean that bitcoin is bull run or the price of bitcoin is in bear market. I want to get a good answer from experience ones that know about bitcoin

We can't be sure of the bear/bull market. $30k is the resistance region, because the price have been moving around it for a long time. The price is expected to grow and reach the next barriers, but the required push isn't achieved. For now the price of bitcoin have dropped a little and this looks like the corrective movement is happening. Maybe once after this we can expect the price to make a big bounce.

It is possible the price is going to remain at those levels for a very long time, after all it is difficult for the price to go any lower as if it did then investors will take advantage of it immediately and the price will go return to the current levels, but surpassing 30k in a definite way is also proving to be a challenge, and this is because we are getting close to half the ATH we reached on 2021, and when the halving is still months away such a high price seems unjustified.

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Quote from: Oshosondy on July 18, 2023, 05:53:35 AM

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This looks more like bitcoin may decrease more? That is what it seems to me if bitcoin can go below $29200.

What do you about this?

Well, Bitcoin at the time I'm posting this is below $30,000 already base on Coingecko.
Though it touched below $30,000 a few times already over the past few weeks, I still believe that there are still buyers at the $30,000 price range thus, putting the price in between the 2 prices.

Bitcoin might decrease more? I guess it will as the weeks pass by. I mean there's no catalyst that will make the price of Bitcoin increase, and probably there will be some buyers at the bottom or near to it that might sell at that price as well. The recent bump was because of Blackrock, and as to when we will expect a decision coming from SEC will take a long time. The SEC can extend 3 times before they will come up with a decision, and they can just come up with a decision as late as next year - a few months before the halving.

As for me, I expect a gradual decrease of Bitcoin in the short term, but in the long term, I still expect for Bitcoin's price to go up like everyone else here.

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Quote from: Onyeeze on July 20, 2023, 05:37:31 PM

Their is something I want to know of bitcoin price since it is being at one price since because the price of bitcoin have not reached 40000 in price since the increment started why is that it still clamp the rang of 30000 and 31000 instead of clamping up to add values to the already one, so that is what the market needs but it have being constant in 30000, does it mean that bitcoin is bull run or the price of bitcoin is in bear market. I want to get a good answer from experience ones that know about bitcoin

It's just sideways. What I believe is that the moment the $31,500 resistance is broken, we will go to $40,000 in the blink of an eye. All the conditions are in place for that. We are 9 months away from the halving, where the price tends to rise, it is clear that we have been out of the bottom of the bear market for a long time and we just need a push to create a little FOMO.

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Quote from: Onyeeze on July 20, 2023, 05:37:31 PM

Their is something I want to know of bitcoin price since it is being at one price since because the price of bitcoin have not reached 40000 in price since the increment started why is that it still clamp the rang of 30000 and 31000 instead of clamping up to add values to the already one, so that is what the market needs but it have being constant in 30000, does it mean that bitcoin is bull run or the price of bitcoin is in bear market. I want to get a good answer from experience ones that know about bitcoin

We can't be sure of the bear/bull market. $30k is the resistance region, because the price have been moving around it for a long time. The price is expected to grow and reach the next barriers, but the required push isn't achieved. For now the price of bitcoin have dropped a little and this looks like the corrective movement is happening. Maybe once after this we can expect the price to make a big bounce.

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my opinion is very simple, maybe I would even say that it is very practical, the price was falling to 25,000$ and it stayed in that zone for some time and suddenly there was good news which made people rush and buy more bitcoins, with that the price went up a lot until it was above 30,000$, but the problem came later, in which people's expectations did not materialize and since there is no more good news ahead and the the only big advantage for bitcoin is the halving that won't happen for many months, so this has become a race of patience in which the more days go by without good news, the more people will get impatient and sell

and as a result the price has been falling to 29500$ more and more, since it keeps touching 29500$ a lot at some point it will give up and with that it will fall again to 25000$ and will stay in that zone for many months, I see the price being below 32000$ until when we are close to the halving or if there is some good news that is big and that would make the price stay above 32000 $, for now I'm not surprised by this price movement, it's expected for me, the only thing I'm wondering is when will it drop to 25000$ and I'll see if I buy it when it's ready to go up a lot

Onyeeze

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Their is something I want to know of bitcoin price since it is being at one price since because the price of bitcoin have not reached 40000 in price since the increment started why is that it still clamp the rang of 30000 and 31000 instead of clamping up to add values to the already one, so that is what the market needs but it have being constant in 30000, does it mean that bitcoin is bull run or the price of bitcoin is in bear market. I want to get a good answer from experience ones that know about bitcoin

STT

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All theories must be tested to be proven, seems natural we can fall back but how far is fair before a fail. I have marked off 29700 as being a recent regular low, seems like that would be the point to maintain if this is to be just a light tough price recede. Besides thats just flat 29k has been more obvious but not a price really visited so far recently hence the idea price action is actually strong though all its done is mostly sideways (on June 21st we hesisitated at 29k for a few 4hr bars before moving up.).

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Quote from: btc_angela on July 20, 2023, 01:25:09 AM

It drop a bit below $30k, but after that, it seems the price is going to trade sideways again for this month. Unless there will be a break out run again to $31k++. But so far we haven't had any positive news yet. So it's better to think that the price will go on this pattern and not expecting big.

On the other hand, we want to see the price just above $30k and no more declining to $29k'ish or below. The market though seems to be bullish, and perhaps that waiting for a news just like the spot ETF filling or maybe its approval will be the catalyst for a great run at the end of the year.

I think bitcoin prices tend to fall ahead of the halving, but something different could be possible if the market gets a lot of positive support from big investors. We would expect the market to continue to fight back to eliminate any more potential downside below $29k, but that is highly unlikely as there is a lot of panic every time bitcoin corrects.

If anything a correction is always possible, but I don't expect the price to drop any lower than $29k. It's very close indeed, but $29k is solid support so far. I agree that the bitcoin price is currently in a sideway, but an up trend can be expected towards the end of the year due to growing seasonality of investor interest.

armanda90

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Current Bitcoin price have dropped after resistance stable on $30,000 and right now Bitcoin lower price under $29,500, will this moment bitcoin decrease before moving up to higher price or possibility for bitcoin back under $29,000? Have been two months not interested with cryptocurrency trading due Bitcoin have stable price and difficult to earn much profit due Bitcoin dominance in market and altcoin difficult get higher volume transaction.
I have open buy order for bitcoin around $29,000 and seems has chance for bitcoin decrease down before moving up to higher price, but I am not trying to open instant order for buying Bitcoin and waiting for bitcoin drop and possibility in this month my order will be fill.

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Quote from: Nrcewker on July 20, 2023, 11:43:49 AM

Yes people need to see the positive side of this. Bitcoins are not increasing more than 30k usd, but it also not going down right. Moreover if you think this as an opportunity then you are able to buy this high valued asset in 1/3rd of the price. So rather stop worrying and complaining and buy as many coins as you can in this low price. Bitcoins price will only go up when the demand to acquire it increases. So yes we have to show some patience and watch the price.

People need to see the positive side because if the price fall back to $25000 or $20000, the price will still increase and go back to $30000 and increase above it. Before next 2 to 3 years, I am expecting the price of bitcoin to increased above $100000 which is the positive thing we need to be looking at.

But this speculation is just for a short period of time. $30000 was the support price before but recently it become the resistant price which is what I am talking about. Let see what would happen. In short term speculation, someone can be very wrong, but I see bitcoin moving above $30000 to be something hard to achieve for now and likely the price would first decrease before moving up again.

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Quote from: pooya87 on July 18, 2023, 08:25:21 AM

Quote from: Oshosondy on July 18, 2023, 05:53:35 AM

This looks more like bitcoin may decrease more? That is what it seems to me if bitcoin can go below $29200.

Another way to look at this is that all the attempts to push the price below $30k has failed which means the chances of going lower is diminishing every day. And in my opinion that's the best speculation we can have since the market is uncertain. Only that the chances of a drop is decreasing every day.

Yes people need to see the positive side of this. Bitcoins are not increasing more than 30k usd, but it also not going down right. Moreover if you think this as an opportunity then you are able to buy this high valued asset in 1/3rd of the price. So rather stop worrying and complaining and buy as many coins as you can in this low price. Bitcoins price will only go up when the demand to acquire it increases. So yes we have to show some patience and watch the price.

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Having seen Bitcoin drop at $29k makes me think that the bearish trend is still ongoing and there is a possibility that the price will continue to fall this July. If the market had strengthened, it should have held on to $31k and not dropped to $29k but it did.

And that made me decide to place a buy order at around $28k-$29k because Bitcoin price could go back too low again. And at this time, the price of Bitcoin touched $ 29.7xx- $ 29.8xx, with a tendency for the price to fall deeper. But let's hope that doesn't happen because if the price goes down again, it could make some people panic.

So I guess we can only be prepared with all the possibilities. We get another discount for buying Bitcoins and that's good for us so we can accumulate more Bitcoins.

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It can be said that since March or around 4 then the price of Bitcoin looks stronger and it is not easy to drop, when there is a decline, the market will respond positively again so that the price can return to $ 30k, maybe this is a positive sign that the end of this year there will be a bull run.

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Quote from: Yamane_Keto on July 20, 2023, 09:06:31 AM

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Financial professionals see a 92% chance that the central bank will deliver a quarter of a percentage point rate increase on July 26, according to CME Group. If the FOMC meets these expectations, it would bring the fed funds target range to between 5.25% and 5.5%—a nearly 22-year high.

More and more, it appears that the Fed is successfully navigating a “soft landing” for the U.S. economy. That means it’s bringing down inflation while avoiding a recession.

If the predictions of financial professionals are right, we will be leaving $30k.

This could be the next indication to look for, probably they are right since they are basing that predictions with the numbers and facts.
The volume is pretty low to break the resistance, it's been a challenge for BTC to break it. August might be a month to break it, we still have more time to prepare.
If there's still a huge volume on resistance level and another bad news regarding the market then it will be hard for us to break it and that predictions will be invalidated.

Yamane_Keto

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The markets are preparing for the next Fed meeting, which will be next week, so there is no enthusiasm for trading, as it is likely that the Fed will raise interest rates by 25 basis points, and if this happens, it will be additional pressure on the price, which means that the upward trend will stop during this month at least. If the Federal Reserve decides to fix the interest rate, it is a positive indicator and may mean that we may easily touch $38,000.

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Financial professionals see a 92% chance that the central bank will deliver a quarter of a percentage point rate increase on July 26, according to CME Group. If the FOMC meets these expectations, it would bring the fed funds target range to between 5.25% and 5.5%—a nearly 22-year high.

More and more, it appears that the Fed is successfully navigating a “soft landing” for the U.S. economy. That means it’s bringing down inflation while avoiding a recession.

If the predictions of financial professionals are right, we will be leaving $30k.

bitterguy28

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Quote from: Oshosondy on July 18, 2023, 05:53:35 AM

Bitcoin increased above $30000 to over $31500 and it has been within this price for many weeks or months now. Bitcoin decreased below $30000 several times but it increased back with some minutes in each time it decreased below $30000. But since yesterday I have been noticing that the bears are getting stronger than the bulls and the price of bitcoin later decreased below $30000 which now wants to become the resistant price.

This looks more like bitcoin may decrease more? That is what it seems to me if bitcoin can go below $29200.

What do you about this?

still holding at 30k , and for how many times this week that bitcoin crossed 29-30k so indeed that resistance goes to 30 thousand dollars but if this going to continue then maybe we will be seeing 28k sooner.
but lets not make it a reason to not invest because best to take this advantage and yes buy more if that happened.

Husires

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I see some saying that stability in the $30,000 range means that the price will not go down, but going down is Bitcoin's way to go up. We are testing the $32,000 level for several days, and when the price does not succeed in breaking that level, then the resistance level at $28,000 will be tested. Thus, we get stability at 30k when consolidation occurs and the price cannot go up or down.

Re-testing the $28,000 to $26,000 levels means that next time we will most likely break the $32,000 level, as it will not hold as it happened the last time.

And do not forget that it is summer and holidays, there is no significant change in the price.

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