Topic: $30000 is becoming the resistant price - page 7. (Read 1082 times)

This has been my fear, seeing 30k being a resistance instead of support. While the bitcoin price was sliding downwards from the range of 31k, I knew it will settle somewhere in 30k as usual. But it made further move to penetrate below 30k. When I noticed that moved, I checked the chart and saw that it will not last for long. I only gave it 48hrs to know our true direction.

As I type, the price is back above 30k at somewhere in $30,202. If the price stays above 30k for few more days we will be certain that our 30k support is regained.

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.

Not really since we easily reach over 31k$ last time because of XRP news in the market, I think for now its the resistance, and it's kinda difficult for Bitcoin to surpass that market price but for sure it can easily surpass that price in the coming months, A lot of bitcoin is slowly accumulating Bitcoin and I think if the market stand by at this market price I think its going to skyrocket to 40k$ easily this year. Bitcoin might probably drop below 30k$ because there are some short-term investors that are going to sell their Bitcoin for sure, and they might want some quick profit, and it's a small percentage drop so some might get afraid of HODL.

The market is looking great in my opinion and the price today doesn't really matter a lot since I'm not planning to sell my Bitcoin yet, I'm aiming for the bull run and well on the right track from 15k$ to 30k$ this day and we still have the Bitcoin halving event I think it could easily skyrocket the market price triggering the Bullrun for sure.

The $30k resistance price of bitcoin has lasted more than a month now and it has made many people learn not to rush into investing in bitcoin due to its a little increase and fallen back in price to $30k.

If bitcoin can return to $30k within some hours when it decreases to $29,200, I don't think it can still fall below the amount again. It's still going to be $29k and $30k until the moment it breaks $31k, which will be its time for an increase in price to the end of the year, which can be above $35k-$40

Since from June until middle of July, Bitcoin price resistance on area $30,000 although few percent up until close to $32,000 and dropped back again to $30,000. Don't know what happen with Bitcoin current last two months keep stable and not interested for short term trader because difficult earn profit in daily day. Its not short term trader only but also long term trading looks can't earn much profit due Bitcoin price resistance and change few percent only.

Left two weeks later in this months and what your predicting with Bitcoin will resistance on area $30,000 or has chance for Bitcoin will raise until $40,000 before end this month. Huge expect Bitcoin available reach up until $40,000 for bringing impact to altcoin keep in downtrend until right now and Bitcoin difficult up drastically.

I don't see the market going down any further below the $29,000 resistant it has maintained over some period of time within a couple of days now, the market has been struggling to break the resistance against $31,000 and above but i think there's more to expect for this to happen, the first indication here is the signals received from the weekly candles and the chart speculations on the market price whereby there's more tenderness to surge more highs than low while the second is the fact that the bear season is already gone and we are launching gradually to the bull market which the more the closer to halging the higher we experience the pump in price between now to the end of the year, the higher the volatility the higher the pump this period till we are approaching there bit by bit.

Yes you are right it does seem this way now for $30k is the lowest price we will see Bitcoin. But sometimes I check the price and it will be $29,700 for small time but does then goes back up to $30k.
But we know this can just change at any time for any reason. I do not think we are going to see a 'bull run' that soon. But I do think we can stay at price point of $30k and 30-30k is going to be a big test for future resistance.

The recent price movement of Bitcoin, with fluctuations around the $30,000 level, has indeed been notable. It's not uncommon for Bitcoin to encounter support and resistance levels as buyers (bulls) and sellers (bears) influence the market dynamics.

While past trends can provide some insight into potential future movements, it's essential to remember that the cryptocurrency market can be highly unpredictable and influenced by a myriad of factors. Predicting short-term price movements with certainty can be challenging.

If Bitcoin's price remains below $30,000 and approaches the $29,200 level, it could be seen as a critical juncture for the market. Breaking below that level might signal further bearish sentiment, potentially leading to a deeper correction. However, it's crucial to be cautious about drawing definitive conclusions solely based on short-term price movements.

Investors should consider a broader perspective, conduct in-depth research, and assess various indicators and market sentiments before making any decisions. The cryptocurrency market is known for its volatility, and it's essential to approach it with a long-term mindset and risk management strategies in place.

As always, seeking advice from financial experts and staying updated with reliable sources can aid in making more informed decisions. Remember that any investment carries inherent risks, and diversification can be an effective strategy to manage potential fluctuations in the market.

Ultimately, it's best to focus on the fundamentals of the cryptocurrency you are investing in and consider your investment goals and risk tolerance when navigating the ever-changing landscape of the crypto market.

It's only temporary. I think it will continue until Saturdays. Some Altcoins are pumping while Btc is raging. If someone plays short-term it is highly recommended to use SL (Stop Loss) to minimize risk, because there are no perfect indicators/scripts. But, if long term. it's still safe. because if you enter this month the difference between the purchase price and the decrease is not too big a percentage and don't forget to always pay attention to the Time Frame - 4 Hour movement and prepare funds to buy Bitcoin in the range of $ 28,500 - $ 29,000.

Basically since June 22 we are stuck in this tight range. Being Summer means less liquidity. Which means the chances are higher of a failed breakout. Which we experienced many times. The best traders basically traded the daily wicks and will do so until we get a clear break.

With respect to Bitcoin, usually when it consolidates and trades in a tight range like this on resistance, it will most likely break and head higher. However nobody knows when that will happen. We might get the wick taken out at the lows around $29400 before we head higher. I would wait for confirmation first before going long.

We've been drifting along for so long we are at the monthly average price now.   I have to take this amount of action above 30k with positive trend in the 50 day average and other measures of momentum as a positive for future action.  It doesnt mean we cannot go down near term but overall the situation appears to support tests of higher prices more then any requirement to retrack prior pricing lower in the 20k's for example.
  200 day average is at about 26k but staying above the June low I think would qualify us as positive bigger picture even in a pullback beyond this current hold.

Lots had been anticipating for the price to go down on 28k price before the market would really be taking up some launch or can be considered the last dip before we would really be taking or hitting 35k

which is something that for sure bearboys are really that looking into and this is what im really that assumpt that it would really be able to go down that low which i would really be accumulating
with those cheaper coins if ever it would happen but no one really knows on the current price might be the bottom and its true that we are playing or going in between 30k-31400+ price if we do speak about resistances on which how many times we do able to fail out on breaking that point but at least we are really that seeing that the market is really trying to break out that resistance.

We've been on how many situations along on the past years seeing on having multiple rejections when it comes to price roof or ceiling but its not really that something new anymore.
We've been there but time would come that we would successfully be breaking out those ceilings.

What so far that I understand in this year, since January we have been in bull season, followed by mild bear market, but still bitcoin has been above $30000 for a long time this year. We may have bull season but I am just speculating what could happen in short term. What I noticed recently is that the bears may win before they will become the bulls which might lead to another bull market. But as for now, bear market seems what to be coming. Let us see as what the market will turn out to be, I may not be right. It is just a speculation.

Also if you see the charts, the level from 30-33K is a key level that acted as strong support in the bull market as the price of bitcoin dumped from above 60K to 30K before going again to above 60K to make all time high. Now this level is acting as a strong resistance in the bear
market.

I think when the price of Bitcoin will surpass 33K, then we will officially be in a bull season, but it may take some time as we may get rejected from this level a few times before we actually surpass this price level.

Yes, but it seems that we are below $30k as of this time, so maybe those how are pushing for it has been successful. Nevertheless, we will see if this is going to hold on not.

I mean $30k has been the support for quite sometime now, so now the ball is on the side of the bulls to keep it, otherwise, the bears are going to succeed and so $28k and then $25k is the next obvious support line. Not sure though why it went below, maybe there is negative news in the market again.

In my market analysis, we are neither in a bull market or a bear market but we are at a resistant level and at that we have to wait for whatever direction the market will go from this point the 30k resistance has lasted long enough but then no one can tell when the next market benchmark will be made since Bitcoin price is unpredictable so for that we must we will be seeing more price flotation and the price will hover around the 30k-28k and possibly touched 32k on some occasions.

Maybe the chances of going down will decrease every day, because the support in the $30k price area has tried to be broken three times but still not successful.
But if this time the support in the $30k area is still strong, then the possibility of going up will be even greater.

This will be the determination of whether Bitcoin will continue its rise, or will correct and head for the Flip Trend area at $28k.

Time Frame 1D

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.

I think there's a broader context here. On July 14, the market was hit with positive news about ripple and the fact that sec was unable to prove something that looks like security is a security (XRP can meet all points of the HOWEY test - should be easy to prove it if you have the judge on your side and present some facts properly - ICO to gain funds to conduct business, the investor buys to earn profits from the functioning of the business. And if SEC failed in the case of ripple, which seemed easy, what about other cryptos, including the sued BUSD which is a f*king product that people use to invest in other stuff ... not a securitu that people buy to earn! So the traders went shopping. Or rather, retail investors rushed to buy, because the big fish probably knew about the decision much earlier. And since they knew before, now they are taking profits by pulling retail investors under the stoploss, which everyone probably has in the area of 29.5-29k from where there will probably be a false breakout and we will return to old trend which is up. All that to deceive the largest number of investors as Jesse Livermore once said - "The stock market is never obvious. It is designed to fool most of the people, most of the time"

I agree with that but I think the drop will be the same as it has been so far this year, it won't last long and it will eventually go back up to 30k in price.
So far this year we have been at a price close to 30k for too long, I think this will be a positive point for Bitcoin price movement if it increases.