$35,000-$37,000 for Bitcoin in 2023 as my peaking barrier, is breakout feasible? - page 4.

BitcoinPanther

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Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

This is my instinct rather than a professional analysis.

Did I hear someone say instinct does not work in trading? My friend, it does work. My trading instinct works 90%, especially for long-term trading because I live my life in the world of trading, even what happens in trading is being seen in my dreams at times, so trading is more than what we think.

That aside, this is an instinct, not a dream or anything. I've been having this instinct since November 2022 when Bitcoin was still challenged and facing bearish pressure. However, the first part is fulfilled by the market changing trend and moving closer to the levels.

The Bitcoin price trend is cyclical so it is expected that the price of Bitcoin will recover and transition to bullish market after the gruesome bearish trend. I think there is no need for instinct here since it has been proven for several years that Bitcoin market will transition to bullish market as the halving event approaches. We can also see it on the history of Bitcoin on how the market uptrend and use Bitcoin halving event as catalyst of Bitcoin market bull run.

Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

Do you guys believe it would surpass $35k-37k this year?

Although Bitcoin is currently bullish and no speculation is perfect, still, this a tough task, for me, despite getting closer to the levels daily.

It is possible that BTC price could surpass $35k-$37k, even $40k if the market sentiment continue to it being in bullish state and there is no strong FUD and negative new that will counter the bullish tempo of the Bitcoin market.

coolcoinz

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Often November - December is a pump for bitcoin and this is going to coincide with FED pivot, because they've said it themselves that it won't be possible for them to continue rate hikes in 2024. All assets will rally if they start printing and bitcoin is long overdue for its first bull market rally, which should take us at the very least above 50% of the ATH, so between 35k and 40k USD. I feel like if we haven't had all this external pressure from the FED, we'd be at 40k right now.

40k by the end of the year and 50k next year, if the bull run gets postponed to 2025 due to some unexpected negativity like a large market crash in US stocks. If all goes well we should be at a new ATH next year, probably between 100 and 120k.

el kaka22

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I think it will go above those prices without a doubt, not saying that I can guarantee anything because I do not know anything more than anyone else, I have the same data that all of you have. However, looking at how it is looking great for the time being, I feel like that's going to be the case for this year without a doubt. That is only a 20% increase, we are in the fifth month now, that means we have about 7 months left for bitcoin to do a 20% increase, which is low enough that bitcoin may even do that in a single month.

This is why we should keep investing into bitcoin and hope for the best, it will happen without a doubt. I know that it is going to be a difficult period until we break over those prices without a doubt, but just because it's difficult, doesn't mean it's impossible.

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Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

Do you guys believe it would surpass $35k-37k this year?

Although Bitcoin is currently bullish and no speculation is perfect, still, this a tough task, for me, despite getting closer to the levels daily.

How can you have such an instinct if you've never seen anything on a chart? I even still believe that $40k can be broken in 2023 and possibly higher before the halving occurs.

I tend to check charts and get very basic reasons before predicting prices, not just on instinct. I observe that we still have the same pattern regarding bitcoin price ahead of the 2024 halving, this makes me optimistic to hope $40k can be broken before the end of the year. It is true that there is a lot of pressure in the market that makes it hard for the bitcoin price to break through resistance, but that is normal as price volatility is to be expected.

AbuBhakar

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Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

Do you guys believe it would surpass $35k-37k this year?

Big Yes on this. Banking is crashing hard as well as the US dollar. People knew that Bitcoin performs well on economic crisis. This is a good opportunity for them to escape inflation and invest to Bitcoin which is proven performing well when fiat market is crashing hard. I think we might see more since the price moves very strong towards 30k level a week before the monthly candle close. This is a good sign that the confidence on buying Bitcoin is already there.

We might see another big movement both down and up since a pull back is required for bulls to have better entry price. I think 40K+ this December or more is what I’m sensing due to the negativity of US market. More bank crash means less trust to fiat.

FUCKBSVFUCK

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I think that it is possible to reach $35k-$37k in 2023. I think that is the time to buy and hold Bitcoin.

yudi09

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Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

Do you guys believe it would surpass $35k-37k this year?

Although Bitcoin is currently bullish and no speculation is perfect, still, this a tough task, for me, despite getting closer to the levels daily.

January Bitcoin opens at $16,547.91 and closes at $23,139.28.
Continuing in February weak chart movement into March.
In April, a positive signal was seen because it was able to penetrate the price of $31,005.61 even though the April closing price was at $29,268.81.[1]

May is in and prices are still playing at $28k.
$35k - $37k is a price that is still possible to be met this year, in my opinion, I even feel optimistic that I can pass this price.

[1]. https://coinmarketcap.com/currencies/bitcoin/historical-data/

EarnOnVictor

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Quote from: fzkto on April 30, 2023, 03:54:55 AM

Your instinct is probably based on past events. 37k is a little over half of past the 69k high. Many are comparing the current year to 2019 where the price rose slightly above half of the previous cycle. I also think 2023 is similar in scenario to 2019. If so, the price should just hit 35-37k this year and then fall again before the next halving.

Of course, instincts are created based on the past events stored in our heads, that's the reality, it doesn't just show up. And I so much agree with the rest expression, what happens between 2019-2020 is being patiently studied by Bitcoin investors, which might be what will not make it rise so much in 2023 for it to be more attractive in 2024.

Quote from: Tytanowy Janusz on April 30, 2023, 04:17:45 AM

35-37k is a major resistance. I have my take profit orders for my short/middle term positions right there. I see a high risk that these levels will not be broken and we will realize a scenario similar to 2019, when we jumped from $4k to $14k and then fell to $5k. This is how I see the situation now. Pump just to 37k, maybe even 45k and dump back to 20k. At the same time, 45k seems unlikely to me before some solid correction or at least a longer consolidation.

Nice speculation you have there, and for you to also notice $35-37k means a great deal. I know that if the level could give up, $40-45k will be next.

Quote from: shinratensei_ on April 30, 2023, 07:41:03 PM

still many times left, there's no reason bitcoin couldn't get past that

Well, with my experience in the world of the financial market, we can't always use the time to judge, it's events/factors surrounding the asset that matters. The market you see that performed most excellently from January to March might make a bearish turn for the rest of the year, so it doesn't matter.

As it is now with Bitcoin, I believe that inflation should be our focus, also, the news of regulation, liquidation and adoption by big volumes should be our focus.

Quote from: adaseb on May 01, 2023, 12:14:20 AM

Well you need to realize. Who is there to buy Bitcoin at levels higher than that.

This is a very good consideration judging by the widely speculated cycle of Bitcoin moving lower before halving. And at the current levels, people are hesitant in committing their money thereby waiting for purchases at lower levels.

adaseb

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Well you need to realize. Who is there to buy Bitcoin at levels higher than that. Bitcoin at $15K was cheaper so it wasn’t usually for someone to buy 0.1 or 0.25BTC or so. But do you see people spending $50K for a single Bitcoin if their job is at stake.

Lots of people are starting to cut back. Those that aren’t will be in for a rude awakening. Hence why I don’t think we will get a break out to the $50K area. The $1M Bitcoin was obviously not going to happen in 100 days.
Was just a publicity stunt.

posi

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Quote from: fzkto on April 30, 2023, 03:54:55 AM

Your instinct is probably based on past events. 37k is a little over half of past the 69k high. Many are comparing the current year to 2019 where the price rose slightly above half of the previous cycle. I also think 2023 is similar in scenario to 2019. If so, the price should just hit 35-37k this year and then fall again before the next halving.

I also see the 2019 scenario gradually repeating itself. But my prediction is that bitcoin could hit $50k this year and then plummet below $20k. All in all, this is just a fun prediction, and I didn't focus on it and didn't expect it to turn out that way. Because history may still be repeating itself, but that doesn't mean it will repeat itself in detail, things will be a little different.
I accumulate bitcoin monthly, and I am not too concerned about bitcoin price in the short term, even if bitcoin goes up to $50k, I will accumulate as it is still below my sell target.

shinratensei_

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still many times left, there's no reason bitcoin couldn't get past that, of course it's need some good investments flow like before, remember previous bullruns was mainly because tesla just puts huge chunk of their money into bitcoin and other companies in general follows that which is good for bitcoin market capitalization. regarding your instinct, I guess like many have said, if you are veteran in term of investing in cryptocurrencies you might have seen some similar pattern based on past events which actually quite make sense and I think many veteran investors are having the same feeling I mean you get the gist of it, something like that.
but this year around I even sure that it could easily go beyonds $40k but certainly not hitting its all time highs because that's still quite far.

n0ne

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Based on what we've reached in the first half of the year, there is more chances of price reaching $35k - $37k. It is all about the good and negative things taking place around the market. Just four months of 2023 over, more 8 months left. For the growth to happen, more time is available. Halving is one important event that's been scheduled for the falling year. This too brings good rise in the price of bitcoin and drop close to the halving pump, only then it is possible to reach ath.

hatshepsut93

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Bitcoin can reach a lot of price levels, but can it sustain them? We are likely still in bear market, which means everything that is gained can be lost quite quickly, the corrections during bear market are brutal because there's not a lot of confidence behind the reclaimed price levels.

We can reach $40k and $50k too, but it's unlikely they will be stable, because there's a lot of time before the halvening and the new cycle.

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Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

Do you guys believe it would surpass $35k-37k this year?

I understand the logic of this acting as a resistance level, as it was previous support in last year's bear market before the capitulation started. But I also have a suspicion that if price reaches this level, ie breaks above around $32K, then the target would be nearer $40K-$50K than $37K imo. The $30K level was previous support for around 18 months, so if it can be reclaimed and price move higher, then I think it's likely price will move higher quite quickly in a parabolic manner, even if there is initially a pull-back from the price range you mention back towards $30K in order to re-confirm as support.

There was also the logic that if $6K was broken to the upside back in 2019 then $8K would act as resistance, as it was previously resistance in 2018. But due to the momentum shift and increased volume, price merely consolidated around $8K before moving considerably higher. With $30K broken we could see the same result, as it's the last line in the sand for the bears to defend.

I know many considered breaking back above $25K as confirming the end of the bear market, but for other more conservative traders/investors this level is more like around $30K/$32K.

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Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

This is my instinct rather than a professional analysis.

Did I hear someone say instinct does not work in trading? My friend, it does work. My trading instinct works 90%, especially for long-term trading because I live my life in the world of trading, even what happens in trading is being seen in my dreams at times, so trading is more than what we think.

That aside, this is an instinct, not a dream or anything. I've been having this instinct since November 2022 when Bitcoin was still challenged and facing bearish pressure. However, the first part is fulfilled by the market changing trend and moving closer to the levels.

Do you guys believe it would surpass $35k-37k this year?

Although Bitcoin is currently bullish and no speculation is perfect, still, this a tough task, for me, despite getting closer to the levels daily.

Instinct in trading is needs ton of expertise under it as markets are pretty much work the opposite our feelings about it. Meaning that when people should sell they are in denial instead, and they sell when they are desperate, and stay away from the when markets are depressing or look for the pump of recovery to exit on that. And obviously buy because of the hype and the greed. They rarely follow trough their plans if they keep looking at the charts.

That being said i trust on my insticts too. Meaning that i try to do opposite of them. That doesn't necessarily mean that i hold if i am scared. These days i might even sell before i am scared if my target has been hit i will sell 90%

But if i would trust my feelings, i would say that we would go sideways in near 30k for few moths and after that the real bull market starts. And that btc might even hit 50k this year. The fact that memecoins started to gain attention tells me that new people are believing crypto again.

Tytanowy Janusz

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Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

Do you guys believe it would surpass $35k-37k this year?

35-37k is a major resistance. I have my take profit orders for my short/middle term positions right there. I see a high risk that these levels will not be broken and we will realize a scenario similar to 2019, when we jumped from $4k to $14k and then fell to $5k. This is how I see the situation now. Pump just to 37k, maybe even 45k and dump back to 20k. At the same time, 45k seems unlikely to me before some solid correction or at least a longer consolidation.

benalexis12

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Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

This is my instinct rather than a professional analysis.

Did I hear someone say instinct does not work in trading? My friend, it does work. My trading instinct works 90%, especially for long-term trading because I live my life in the world of trading, even what happens in trading is being seen in my dreams at times, so trading is more than what we think.

That aside, this is an instinct, not a dream or anything. I've been having this instinct since November 2022 when Bitcoin was still challenged and facing bearish pressure. However, the first part is fulfilled by the market changing trend and moving closer to the levels.

Do you guys believe it would surpass $35k-37k this year?

Although Bitcoin is currently bullish and no speculation is perfect, still, this a tough task, for me, despite getting closer to the levels daily.

The price you say will really happen, the only question is because no one knows when it will happen? this is where we often argue, and none of us can predict what day, month, year it will happen, and that's because bitcoin is volatile.
This is the reason why many communities think about Bitcoin because there is also suspense when it is Bitcoin, and it will be tested as time goes on or passes.

fzkto

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Your instinct is probably based on past events. 37k is a little over half of past the 69k high. Many are comparing the current year to 2019 where the price rose slightly above half of the previous cycle. I also think 2023 is similar in scenario to 2019. If so, the price should just hit 35-37k this year and then fall again before the next halving.

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Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

Do you guys believe it would surpass $35k-37k this year?

The fun continues: Bitcoin price guess, 2023

No one knows what the highest price of bitcoin will be before the end of 2023, we only have fun by speculating the price, even some speculation are just price guess.

Quote from: EarnOnVictor on April 30, 2023, 03:25:57 AM

This is my instinct rather than a professional analysis.

If I remember very well, the three types of analyses that I read when I wanted to start to trade are technical, fundamental and sentimental analyses. If you are a good trader, you know much about technical and fundamental analyses, there will still be instinct sometimes which makes it sentimental.

EarnOnVictor

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This is my instinct rather than a professional analysis.

Did I hear someone say instinct does not work in trading? My friend, it does work. My trading instinct works 90%, especially for long-term trading because I live my life in the world of trading, even what happens in trading is being seen in my dreams at times, so trading is more than what we think.

That aside, this is an instinct, not a dream or anything. I've been having this instinct since November 2022 when Bitcoin was still challenged and facing bearish pressure. However, the first part is fulfilled by the market changing trend and moving closer to the levels.

Do you guys believe it would surpass $35k-37k this year?

Although Bitcoin is currently bullish and no speculation is perfect, still, this is tough task, for me, despite getting closer to the levels daily.

Topic: $35,000-$37,000 for Bitcoin in 2023 as my peaking barrier, is breakout feasible? - page 4. (Read 658 times)