All Eyes On Bitcoin’s Monthly Close

Symmetrick

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Quote from: slaman29 on October 13, 2022, 01:11:10 AM

Demo testing is pointless, I see trading platforms hold contests all the time with demo and paying out real prize money, the question people/newbies should have been asking is why aren't these same traders successful when doing real trades? Live markets react in very different way, the most unpredictable of any algorithm.

It's exactly like that, yes. I talked about the uselessness of demo platforms as a means of building your own strategy here: Is a demo account necessary for a beginner trader?

Indeed, the behavior of the demo mode and the real market is fundamentally different. In the real market, in addition to psychology and other live participants, there are also exchange bots, there are market makers who manipulate the price, but they are not in the demo mode. The crypto market is full of manipulation and various traps where bots hunt for stop losses and liquidations of most traders. All this must be taken into account when creating your trading strategy, and in the demo mode you can learn only the very basic principles of trading.

Therefore, I recommend that traders practice on a live account using a $5-10 deposit.

GeorgeJohn

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Actually i didn't understand full of your statement as per says, so from experience i do think you are emphasising on the monthly price will bitcoin will land into before the end of this remaining months of cryptocurrency, so therefore i believe that Bitcoin will still moving slowly in the market price except it's a situation whereby people who are investors go in into the market to bump the market.

Russlenat

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All eyes will certainly wait for the monthly closure of Bitcoin prices, this is because at this time Bitcoin is an asset that will continue to be monitored because the price is very fluctuating, besides that of course to see the market conditions in general whether red or green then we can from the position of Bitcoin prices.

Not only for monthly closure, but most likely for its year end price as bitcoin price will always be a reflection for altcoins price movement in the market. But to be honest, I am not seeing bitcoin this year reaching a new significant price because considering the market still in bearish position, so probably if bitcoin price suddenly surges high, it will always have high chances to bounce back again and drop its price.

TravelMug

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Quote from: STT on October 18, 2022, 01:59:23 PM

Once again BTC declines today having failed at the 50 day average hurdle and now we turn back to 18k area of support which has marked the lows. Appears likely we just repeat this back and forth until month end or even longer, most likely an event, news or main markets having a stormy conclusion to their current down turn; ideal being the Dollar index itself breaks rather then any worthwhile non political asset such as BTC. We can be sideways till next spring, next year so this month ending flat is to be expected.

Yes, although the price goes to $19,500, not seeing it getting to $20k at least for this month. Maybe that will be the farthest that we can reach and then decline again to $18k.

And as others pointed out, the economy is worsening, dollar is getting weak and then the war still in the background. So no respite for this year or even in 2023, I still think that the market will continue to decline or in a sideways.

STT

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Once again BTC declines today having failed at the 50 day average hurdle and now we turn back to 18k area of support which has marked the lows. Appears likely we just repeat this back and forth until month end or even longer, most likely an event, news or main markets having a stormy conclusion to their current down turn; ideal being the Dollar index itself breaks rather then any worthwhile non political asset such as BTC. We can be sideways till next spring, next year so this month ending flat is to be expected.

Wong Goblog

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It is natural because Bitcoin is Cryptocurrencies which is a measure of the market situation, if the price rises then it is likely that Altcoins will also rise and vice versa. Besides Bitcoin is Cryptocurrencies with the biggest user so it is always interesting to follow the price trend.

Vinaa77

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Quote from: NeuroticFish on August 31, 2022, 01:02:36 PM

You've made two topics today on monthly close? I start to think that this monthly close didn't get the attention you've been expecting and try to do more.

Well, we're in bear market. And the bear market will end. Maybe it did, or maybe it ends today, or in a couple days, weeks or months. Learn to have more patience and enjoy the ride. And yeah, HODL.

Some argue that the bear market is over, and others say it continues. But I see this is still the early stages of a bear market. Maybe it will continue, so we control and continue to evaluate our assets. I'm sure crypto prices will continue to dump, and haven't found anything that can pump up crypto prices. Many issues were developed, including the issue of Russia legalizing Bitcoin. But the issue cannot affect the market price.

bestcoins1

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Quote from: Moshi Moshi on October 14, 2022, 10:51:16 AM

it's still about 2 weeks until the closing of the monthly candle ends,
if what history says about bitcoin in October is bullish then I hope it happens and makes Bitcoin price reach $30k at the end of this month,
because $30k is a resistance that must be achieved if you don't want a breakdown again.

Does history have anything to say about how many years it was once in October in bullish terms? because i still don't think that every year in not october there will be bullish. But if it can happen this month with Bitcoin, I'm actually happy to see it because bullishness is what everyone needs right now. Even more so for those who still hold Bitcoin and also those who are still investing in Bitcoin within this year.

Moshi Moshi

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it's still about 2 weeks until the closing of the monthly candle ends,
if what history says about bitcoin in October is bullish then I hope it happens and makes Bitcoin price reach $30k at the end of this month,
because $30k is a resistance that must be achieved if you don't want a breakdown again.

slaman29

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Quote from: slaman29 on October 08, 2022, 08:00:27 AM

That's new to me, honestly, and it sounds like a really sound strategy for making sure your exposure is not overly big, I commend you on that.

I always see DCA as just buying non stop to hold for very very long time but this averaging is repetitive and constant, almost like betting an entire football game to lock in the value while hedging every outcome as it happens.

Good luck and yes, break even is better than loss (except the loss of time).

I came up with this strategy after numerous tests and experiments on micro amounts. I did not test my strategy on a demo account, because the demo account does not live a market life and the real price behavior cannot be tracked there. Bitcoin is inherently volatile, but it always (sooner or later) bounces back, so you can use it and not spend your bitcoins in vain. When you are trading for a couple of hundred bucks, you can put a stop loss and quickly re-enter the trade, and when 4-8 bitcoins are involved in the trade, it is better to think a little more than make decisions like exiting on a stop loss, since when such amounts, one click of a button can take a lot of money from you.

Although I later realized that all trading is too tiring and sent it to hell by switching to investing. Grin

Demo testing is pointless, I see trading platforms hold contests all the time with demo and paying out real prize money, the question people/newbies should have been asking is why aren't these same traders successful when doing real trades? Live markets react in very different way, the most unpredictable of any algorithm.

And that's the best point about Bitcoin that you can use it and spend it even if you buy them high, they have a good use.

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I came up with this strategy after numerous tests and experiments on micro amounts. I did not test my strategy on a demo account, because the demo account does not live a market life and the real price behavior cannot be tracked there. Bitcoin is inherently volatile, but it always (sooner or later) bounces back, so you can use it and not spend your bitcoins in vain. When you are trading for a couple of hundred bucks, you can put a stop loss and quickly re-enter the trade, and when 4-8 bitcoins are involved in the trade, it is better to think a little more than make decisions like exiting on a stop loss, since when such amounts, one click of a button can take a lot of money from you.

Although I later realized that all trading is too tiring and sent it to hell by switching to investing. Grin

Interesting reading up on your post exchanges here, also new for me to hear DCA being used in a trading perspective (and no, am not conveniently ignoring that as a DCA-er in the end I'm closing a trade if I plan to liquidate at some point, no matter how far down the line!).

Don't have the precise stats but yeah, Bitcoin spends about 80% of the time, if not more, in sideway and bearish motions, with short-lived rallies, but crucially, rallies that lift up the long-term bottoms... so DCA is just logically the most profitable way to invest.

I discovered what a tiring and soul-sucking thing trading was over a decade before I got into Bitcoin... am sure many of you've been down the forex road Wink

Zanab247

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Since there is still bear market in the community, show that very soon investors will start experiencing bull market that will make others investors to believe that bull market has finally come for both long term investors and short term investors to celebrate. I guess, this bull market we are about to enter will take a long months before bear market will appear for people to use the opportunity to buy again and hold until another bull .

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Quote from: slaman29 on October 07, 2022, 02:00:13 AM

And I don't never heard before what you're doing. DCA on an exchange, and as part of a trade? DCA is for long term, own wallet buys, or so I always thought!

The meaning of the averaging strategy was that having a deposit and only 1-1.5% of the deposit to enter a deal, I used the rest of the deposit to secure this deal and possible averaging if the price starts to fall sharply, breaking through the next support level.

As a result, I very rarely closed negative trades, but sometimes I sat in a negative trade for a long time, waiting for the price to bounce. But the price does not always reach the previous levels when bouncing, so I averaged my position, thereby lowering my entry point into the trade so that it was below the nearest resistance level. Thus, when the price reached this value, I always exited the trade to breakeven, though sometimes I had to wait 10-14 days for the price to return to the values you need. But a breakeven is still better than a loss. Therefore, I always prefer to wait and not rush to close losing trades.

That's new to me, honestly, and it sounds like a really sound strategy for making sure your exposure is not overly big, I commend you on that.

I always see DCA as just buying non stop to hold for very very long time but this averaging is repetitive and constant, almost like betting an entire football game to lock in the value while hedging every outcome as it happens.

Good luck and yes, break even is better than loss (except the loss of time).

globalpain

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All eyes will certainly wait for the monthly closure of Bitcoin prices, this is because at this time Bitcoin is an asset that will continue to be monitored because the price is very fluctuating, besides that of course to see the market conditions in general whether red or green then we can from the position of Bitcoin prices.

september is over and october is in hand, historically the price of bitcoin has always been bullish this month,
so i don't need to worry about how bitcoin will run this month,
because in september bitcoin has experienced a prolonged bearish so it's time to be bullish in october, keep hold!.

Chato1977

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Quote from: calvinweight on August 31, 2022, 11:27:38 AM

As of this video we have 8 hours left in the month. If we close near $20k the trend is projecting a significant drop in September. The good news is that this should be the last one. The last one is the most emotional though so I’m expecting long wicks and lots of liquidations for those that haven’t done their risk management properly. Buckle up since when September is in the books things will start getting fun for years to come.

https://youtu.be/w6bk4SQuiPU

Yes we have a significant drop last September but not as bad as we expected and also the growth seems to be going now as the 1st week of Octobers ends now ? and besides this is the Last quarter so basically there are more coming from this point either this month or the next 2 remaining?

I don't know what to expect but one thing I'm sure there will be changes this next months.

slaman29

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Quote from: slaman29 on October 01, 2022, 08:51:39 AM

Trading without stops, without limits, it's all a sign of no real thought for Plan B.

If we are talking about trading in the spot market, about trading in deflationary assets and this trading is not short-term, then why use stops at all? For example, if you are trading bitcoin on the spot and you have medium and long term trading, then it is more efficient to use the DCA strategy, and not sell bitcoins at a loss on a stop, since even in the bullish phase, bitcoin is characterized by increased volatility and it can easily lose half of the value in order to then grow even more. I have been trading bitcoin for 4 years (until 2022) and never put these stops because I used the strategy of averaging my positions. It seemed to me much more effective than placing stops, especially when they are in the high-risk zone, 10-50% of the opening price of the transaction. Such stops can fly off at any time, but the market trend will not change. This is the main disadvantage of stop losses when trading bitcoin.

I'm talking about people who're trading, not a single one of them are long term, this is my point.

How long do your trades last? If it's days or weeks or months like what I'm referring to, it's not long term right? Surely you have targets for every trade, do you not? Target for max loss, target for required profit.

And I don't never heard before what you're doing. DCA on an exchange, and as part of a trade? DCA is for long term, own wallet buys, or so I always thought!

slaman29

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Quote from: Kemarit on September 30, 2022, 02:33:24 AM

Quote from: slaman29 on September 29, 2022, 11:58:11 PM

I don't know why people keep letting themselves get disappointed

That's just one part of the equation, you let your self disappointed in this market, and if so, what will be your plan B? for sure there's none for them. They are going to be disappointed though, as the market is going to fall because of the world recession, not just us, but other markets like stocks, which shows that we are interconnected after all. So once those investors got disappointed, they can't just say that they will shift to others because everything is going down.

I don't know but most traders I come across, or rather I would say close to all of them, they all think they have Plan B but none of them really want to seriously think about it. It's as if they enter markets, with full knowledge that majority of people lose money (regardless bull or bear) and then they still get surprised when they become part of the majority.

Trading without stops, without limits, it's all a sign of no real thought for Plan B.

Fortify

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Quote from: calvinweight on August 31, 2022, 11:27:38 AM

As of this video we have 8 hours left in the month. If we close near $20k the trend is projecting a significant drop in September. The good news is that this should be the last one. The last one is the most emotional though so I’m expecting long wicks and lots of liquidations for those that haven’t done their risk management properly. Buckle up since when September is in the books things will start getting fun for years to come.

Posting 8 hours before the end of the month and somehow expecting big movements to happen? Seems a little bit silly to me. At the very least it will happen in the full 24 hour cycle including the last day of the month - as your "last 8 hours" is different from the last 8 hours in Zimbabwe and the last 8 hours in Shanghai. Cryptocurrency in general is extremely volatile compared to say the stock market, where traders are making judgements on what will happen weeks or months ahead because shorter time frames are simply too erratic to be profitable. It seems that Bitcoin is settled for now, but as more bad news starts to come out in relation to recession then it might continue to trend downwards albeit at a slower pace.

Joshapat

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Bitcoin is the most popular cryptocurrencies so that the easy thing to know the market conditions is from the price of Bitcoin, the presence of stable coins that continue to grow and are now the most couples in trading do not make the position of Bitcoin reduced, Bitcoin's profits are the largest community support.

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Quote from: Dave1 on September 29, 2022, 11:26:48 PM

Well what do you expect, we are in a bear market so I will say that maybe we should expect this kind of movement?
$20k is still our biggest hurdle now, but looking at the price at the end of the month, around $19,400? might be a good indication that we can touch it maybe in October.

People often do not admit to their faults, but it's obvious that it's taking a toll to investor, specially newbies who think that bear market is really that bad but if you look at it closely, this is the time to accumulate.

Either way, the price is sure to get back to $20k later, whether it's in October or next month. A beginner should be able to learn to analyze the movement of bitcoin so that he can decide when to buy, especially if he decides to become an investor so he can find the right time to buy. Indeed we are still in a bear market but that doesn't mean we can't profit because as long as the price is still up and down, we can still try to make a profit. But it will not be easy and this is where it is necessary to analyze the movement before we decide.

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Quote from: slaman29 on September 29, 2022, 11:58:11 PM

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Quote from: sayaya17 on September 26, 2022, 05:47:39 PM

Bitcoin's performance in September was disappointing,

For many, there was no particular disappointment. September has historically often been a bad month for bitcoin, so it was definitely not worth waiting for some supernatural events in the bitcoin market. If bitcoin goes below $17,000 in October, then you can forget about $30,000 for a while. Investors will be begging for bitcoin to return to the $20,000 mark. Few wanted to believe at the end of last year that Bitcoin would almost always be in the red in 2022. Now the market is giving them a good opportunity to admit they were wrong.

Indeed, only disappointing if you had expected a rally above $22000, knowing that the world is falling apart, war is getting more, new wars are becoming bigger threats, prices of goods and supply are all rising and recession is coming.

Bitcoin by now we should all realize isn't the asset to go rising sky high when the world is in crisis even it is an asset that won't disappear to zero unlike many other fiats.

I don't know why people keep letting themselves get disappointed

That's just one part of the equation, you let your self disappointed in this market, and if so, what will be your plan B? for sure there's none for them. They are going to be disappointed though, as the market is going to fall because of the world recession, not just us, but other markets like stocks, which shows that we are interconnected after all. So once those investors got disappointed, they can't just say that they will shift to others because everything is going down.

And the best thing to do is to really choose whether stocks or bitcoin as our vehicle to get out of the current world situation. And for us, it's easy choice, we better stick with Bitcoin and wait till the next bull run.

slaman29

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Quote from: sayaya17 on September 26, 2022, 05:47:39 PM

Bitcoin's performance in September was disappointing,

For many, there was no particular disappointment. September has historically often been a bad month for bitcoin, so it was definitely not worth waiting for some supernatural events in the bitcoin market. If bitcoin goes below $17,000 in October, then you can forget about $30,000 for a while. Investors will be begging for bitcoin to return to the $20,000 mark. Few wanted to believe at the end of last year that Bitcoin would almost always be in the red in 2022. Now the market is giving them a good opportunity to admit they were wrong.

Indeed, only disappointing if you had expected a rally above $22000, knowing that the world is falling apart, war is getting more, new wars are becoming bigger threats, prices of goods and supply are all rising and recession is coming.

Bitcoin by now we should all realize isn't the asset to go rising sky high when the world is in crisis even it is an asset that won't disappear to zero unlike many other fiats.

I don't know why people keep letting themselves get disappointed

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Quote from: sayaya17 on September 26, 2022, 05:47:39 PM

Bitcoin's performance in September was disappointing,

For many, there was no particular disappointment. September has historically often been a bad month for bitcoin, so it was definitely not worth waiting for some supernatural events in the bitcoin market. If bitcoin goes below $17,000 in October, then you can forget about $30,000 for a while. Investors will be begging for bitcoin to return to the $20,000 mark. Few wanted to believe at the end of last year that Bitcoin would almost always be in the red in 2022. Now the market is giving them a good opportunity to admit they were wrong.

Well what do you expect, we are in a bear market so I will say that maybe we should expect this kind of movement?
$20k is still our biggest hurdle now, but looking at the price at the end of the month, around $19,400? might be a good indication that we can touch it maybe in October.

People often do not admit to their faults, but it's obvious that it's taking a toll to investor, specially newbies who think that bear market is really that bad but if you look at it closely, this is the time to accumulate.

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Quote from: Mpamaegbu on September 27, 2022, 03:44:20 AM

Quote from: GeorgeJohn on September 26, 2022, 06:42:21 PM

Their is some people who analyze the future of bitcoin, and when looking at it you see that some people give fake analysis of Bitcoin

Except for mischief makers, I'm not sure most of those who give contrary analyses do so intensionally. We've to take into cognizance the fact that trading is highly a speculative profession and as such predictions can go either way from what it's expected to do.

On the topic at hand, I've not really taken out time to monitor monthly close of Bitcoin. Perhaps, it could be that I do more of trading than buying and hodling. Monthly candle close appeals more to investors than to traders.

It is obviously a speculative thing but when you have little knowledge about how it works and you share your ideas anyway, that means you are doing that purposefully and you want to be right but you know that there is a good chance that you could be wrong. Sharing your speculations comes with a responsibility and that mean people will read it and even if one person is convinced because of it, then you are taking the responsibility of that persons profits or losses.

I know that people could get away with it saying "I just shared my opinion" but it's still unethical if you have no idea how any of this works. If you are a veteran who knows what they are saying and still fail that's fine, it's the newbies who make up stuff from their gut feeling that is the problem.

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Bitcoin support according to the chart is at a price of $ 17.5 to $ 18k and currently Bitcoin is able to hold on,
of course this is a good sign because this month is coming to an end and only a few hours left,
if Bitcoin price is still above support until the end of September, I'm sure bitcoin will rebound in October.

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Quote from: Mpamaegbu on September 27, 2022, 03:44:20 AM

Perhaps, it could be that I do more of trading than buying and hodling. Monthly candle close appeals more to investors than to traders.

That's while we have to scrutinized and know the aspect we are good at, because of lost. But from my observation and perspective towards trading, i note that trading has more of risk factor than purchasing any cryptocurrency and hold. Because the risk in trading involve a mistake and each of the mistake can take away all the funds you generate for one year, so it's very better to purchase and hold and if the market is not encouraging you can convert to stable coin.

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Quote from: Mpamaegbu on September 27, 2022, 03:44:20 AM

Quote from: GeorgeJohn on September 26, 2022, 06:42:21 PM

Their is some people who analyze the future of bitcoin, and when looking at it you see that some people give fake analysis of Bitcoin

Except for mischief makers, I'm not sure most of those who give contrary analyses do so intensionally. We've to take into cognizance the fact that trading is highly a speculative profession and as such predictions can go either way from what it's expected to do.

On the topic at hand, I've not really taken out time to monitor monthly close of Bitcoin. Perhaps, it could be that I do more of trading than buying and hodling. Monthly candle close appeals more to investors than to traders.

Monthly candle closes can also attract many traders if the candle is green. It doesn't really matter how the price moves right now. This can be clearly seen on today's chart, where the pump and dump happened. The same can happen on a longer timeframe as well. Even the current monthly candle might close below the previous bottom, then waiting for the next candle will become even more intriguing. Personally, I think October will be positive, but manipulations like today's will knock weak investors out of the market.

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Quote from: GeorgeJohn on September 26, 2022, 06:42:21 PM

Their is some people who analyze the future of bitcoin, and when looking at it you see that some people give fake analysis of Bitcoin

Except for mischief makers, I'm not sure most of those who give contrary analyses do so intensionally. We've to take into cognizance the fact that trading is highly a speculative profession and as such predictions can go either way from what it's expected to do.

On the topic at hand, I've not really taken out time to monitor monthly close of Bitcoin. Perhaps, it could be that I do more of trading than buying and hodling. Monthly candle close appeals more to investors than to traders.

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Quote from: newdevices on September 23, 2022, 11:05:37 AM

Bitcoin price must be above $18k in the closing candle of this september, because the condition for continued bullishness must be above $18k,
if not, of course there is a big magnet below $17k, one of the prices that many traders have predicted is at the price of $10k,
Of course it's very scary if this happens, especially if it's under $10k, I don't know what altcoins will be.

Their is some people who analyze the future of bitcoin, and when looking at it you see that some people give fake analysis of Bitcoin, some bitcoin can only get accelerate when the demands is higher than the supply, making a gesture that the price will experience a bullish December, i think it's bad. Because i believe that increase when the market is full of demands.

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Quote from: dark1234 on September 26, 2022, 04:55:56 PM

it is undeniable that September is the month of more declines and price speculation from some traders which makes someone trapped in it, maybe sometimes we have to have principles and be smarter in trading so that we are not affected

Quote from: justdimin on September 25, 2022, 11:03:39 AM

, that is why it's much more important to make a change in the person trading with learning at the same time, and study. If we just get the results from someone else, if they are wrong, we can't help them get better for the next time.

with an experience from the trading journey from the start, we will be able to find a more valuable direction because it is our path and decisions that determine

Bitcoin's performance in September was disappointing, I saw more Bitcoin dropping below $20k. Even now Bitcoin is still at $19k, which seems
very difficult for Bitcoin price to go back above $20k. I hope that later in October Bitcoin's performance will improve and can rise to the price of $30k,
especially near the end of the year Bitcoin prices usually go up. So it's very lucky if we take advantage of this September by buying more Bitcoins.

We can learn from previous Bitcoin movements, where buying Bitcoin at low prices is very profitable, because no matter how deep the Bitcoin price falls,
it is certain that the Bitcoin price will recover again and will rise to a higher price. So don't be influenced by the opinion of people who are pessimistic
about the future of Bitcoin, because if we want to be successful in the crypto world, don't be easily influenced by other people's opinions which are
not necessarily accurate. We have to start doing our own research and analysis to determine the decisions we make, because in my opinion only
ourselves can be trusted in the crypto world.

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it is undeniable that September is the month of more declines and price speculation from some traders which makes someone trapped in it, maybe sometimes we have to have principles and be smarter in trading so that we are not affected

Quote from: justdimin on September 25, 2022, 11:03:39 AM

, that is why it's much more important to make a change in the person trading with learning at the same time, and study. If we just get the results from someone else, if they are wrong, we can't help them get better for the next time.

with an experience from the trading journey from the start, we will be able to find a more valuable direction because it is our path and decisions that determine

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Quote from: Wawa2013 on September 24, 2022, 01:11:43 AM

It will only make us stressed and make wrong decisions if we think too much about other people's predictions, which are not necessarily accurate predictions of others. We just focus on the results of our own research and analysis, because in the crypto world the most trustworthy are ourselves. It doesn't matter if our predictions are wrong and it turns out that Bitcoin has dropped to the price of $10k, we don't panic if that happens.

Sometimes it's normal for Bitcoin to move differently from our expectations. We only need to hold the Bitcoin we have until the price recovers and rises again, because if we study the history of Bitcoin movement, we will know the fact that every time the price of Bitcoin falls, it can always bounce back to a much higher price. The most important thing is never to sell the Bitcoin that we have at a low price, as long as we have not sold the Bitcoin that we have, even though the price is down, we haven't lost. But based on my analysis, it doesn't look like Bitcoin will drop below $18k, this means that buying Bitcoin at the current price includes buying Bitcoin at a low price.

Yes, if we keep trusting what others are doing then we are going to end up being unhappy about it at all times. It's wiser to make sure that we end up with something of our own, that way we could end up with a good return and if we ever make a mistake then we could learn from our mistakes as well and make a better return.

This is something that could be improved upon, it could be something that we could perfect in the long run, that is why it's much more important to make a change in the person trading with learning at the same time, and study. If we just get the results from someone else, if they are wrong, we can't help them get better for the next time.

maydna

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Quote from: Wawa2013 on September 24, 2022, 01:11:43 AM

Quote from: maydna on September 23, 2022, 09:31:17 PM

Quote from: newdevices on September 23, 2022, 11:05:37 AM

Bitcoin price must be above $18k in the closing candle of this september, because the condition for continued bullishness must be above $18k,
if not, of course there is a big magnet below $17k, one of the prices that many traders have predicted is at the price of $10k,
Of course it's very scary if this happens, especially if it's under $10k, I don't know what altcoins will be.

In the future, bitcoin is sure to be above $18k. But for now, we have to settle for seeing bitcoins below $20k. But if the time comes for bitcoin to start rising again, we will see a big move from bitcoin, affecting the price to start rising high. And that's when we can start taking advantage.

You don't need to listen to the predictions of people who say the price will be at $10k because it hasn't happened, and we also don't know if it will happen or if it is just a prediction. You better prepare yourself by having more bitcoins.

It will only make us stressed and make wrong decisions if we think too much about other people's predictions, which are not necessarily
accurate predictions of others. We just focus on the results of our own research and analysis, because in the crypto world the most trustworthy
are ourselves. It doesn't matter if our predictions are wrong and it turns out that Bitcoin has dropped to the price of $10k, we don't panic if that
happens.

Sometimes it's normal for Bitcoin to move differently from our expectations. We only need to hold the Bitcoin we have until the price recovers
and rises again, because if we study the history of Bitcoin movement, we will know the fact that every time the price of Bitcoin falls, it can always
bounce back to a much higher price. The most important thing is never to sell the Bitcoin that we have at a low price, as long as we have not sold
the Bitcoin that we have, even though the price is down, we haven't lost. But based on my analysis, it doesn't look like Bitcoin will drop below $18k,
this means that buying Bitcoin at the current price includes buying Bitcoin at a low price.

Yes, that's correct. But most people panic when the price starts to move in the other direction than they did before because they don't think it's temporary, and the price can go back to the previous price and start adjusting. And if, in predicting that, we make a mistake and it turns out that the price is moving in the opposite direction, we better look at our previous analysis and study it further so that we know where the error lies and will not make the same mistake later.

And if one day we read other people's predictions about where bitcoin will move, we can analyze how that person can make their predictions so that we can also know the basics. It will add insight and knowledge for us, which will be useful in analyzing market movements. If we often practice our analytical skills, it will benefit us because our trading skills will increase.

GreatArkansas

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Quote from: STT on September 24, 2022, 06:42:50 PM

(.....)
Not quite sure why but I'd like to see BTC break through and hold above the weekly average price, we could get something interest happening there. Many speculate it just heads down, but not so presently it is buoyant.

I'm just hoping for Bitcoin to regain it's level above $20,000. $20,000 is a very significant level for Bitcoin, especially last 2017-2018 which was the peak of Bitcoin after we saw a long bear market.
So, this monthly candle close for Bitcoin and entire cryptocurrency market is very crucial.

STT

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BTC keeps hitting the weekly average, 3 times in about as many days. The main markets are down alot, dollar index rose which is usually in line with bearish sentiment, but BTC just keeps going sideways which is relatively positive vs many other assets. Not quite sure why but I'd like to see BTC break through and hold above the weekly average price, we could get something interest happening there. Many speculate it just heads down, but not so presently it is buoyant.

Wawa2013

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Quote from: maydna on September 23, 2022, 09:31:17 PM

Quote from: newdevices on September 23, 2022, 11:05:37 AM

Bitcoin price must be above $18k in the closing candle of this september, because the condition for continued bullishness must be above $18k,
if not, of course there is a big magnet below $17k, one of the prices that many traders have predicted is at the price of $10k,
Of course it's very scary if this happens, especially if it's under $10k, I don't know what altcoins will be.

In the future, bitcoin is sure to be above $18k. But for now, we have to settle for seeing bitcoins below $20k. But if the time comes for bitcoin to start rising again, we will see a big move from bitcoin, affecting the price to start rising high. And that's when we can start taking advantage.

You don't need to listen to the predictions of people who say the price will be at $10k because it hasn't happened, and we also don't know if it will happen or if it is just a prediction. You better prepare yourself by having more bitcoins.

It will only make us stressed and make wrong decisions if we think too much about other people's predictions, which are not necessarily
accurate predictions of others. We just focus on the results of our own research and analysis, because in the crypto world the most trustworthy
are ourselves. It doesn't matter if our predictions are wrong and it turns out that Bitcoin has dropped to the price of $10k, we don't panic if that
happens.

Sometimes it's normal for Bitcoin to move differently from our expectations. We only need to hold the Bitcoin we have until the price recovers
and rises again, because if we study the history of Bitcoin movement, we will know the fact that every time the price of Bitcoin falls, it can always
bounce back to a much higher price. The most important thing is never to sell the Bitcoin that we have at a low price, as long as we have not sold
the Bitcoin that we have, even though the price is down, we haven't lost. But based on my analysis, it doesn't look like Bitcoin will drop below $18k,
this means that buying Bitcoin at the current price includes buying Bitcoin at a low price.

maydna

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Quote from: newdevices on September 23, 2022, 11:05:37 AM

Bitcoin price must be above $18k in the closing candle of this september, because the condition for continued bullishness must be above $18k,
if not, of course there is a big magnet below $17k, one of the prices that many traders have predicted is at the price of $10k,
Of course it's very scary if this happens, especially if it's under $10k, I don't know what altcoins will be.

In the future, bitcoin is sure to be above $18k. But for now, we have to settle for seeing bitcoins below $20k. But if the time comes for bitcoin to start rising again, we will see a big move from bitcoin, affecting the price to start rising high. And that's when we can start taking advantage.

You don't need to listen to the predictions of people who say the price will be at $10k because it hasn't happened, and we also don't know if it will happen or if it is just a prediction. You better prepare yourself by having more bitcoins.

Dave1

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Quote from: adaseb on September 23, 2022, 10:06:38 AM

I am no crypto bear, I am a long time crypto bull but you need to look at the macro. Yields are hitting highs, stocks are about to break yearly lows. Last months inflation was higher than expected. Last employment numbers werent what we wanted to see.

Looks like there is going to be a major correction on housing. Winter is coming and it'll be worse for Europe.

Right now is best to stay put.

Same here in our country, we have weakening exchange against the dollar, the highest for our country in the last 10 years or so. And this could be a sign that the worst is yet to come, but blue chips to crypto. So there could be another correction to come due to inflation and the fed rate hike.

Anyhow, we could wait for everything to settle down, or buy when the price hits low of $18k to mid. And then continue to wait till it goes further down to bottom around $15k.

newdevices

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Bitcoin price must be above $18k in the closing candle of this september, because the condition for continued bullishness must be above $18k,
if not, of course there is a big magnet below $17k, one of the prices that many traders have predicted is at the price of $10k,
Of course it's very scary if this happens, especially if it's under $10k, I don't know what altcoins will be.

adaseb

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I am no crypto bear, I am a long time crypto bull but you need to look at the macro. Yields are hitting highs, stocks are about to break yearly lows. Last months inflation was higher than expected. Last employment numbers werent what we wanted to see.

Looks like there is going to be a major correction on housing. Winter is coming and it'll be worse for Europe.

Right now is best to stay put.

justdimin

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Activity: 3164

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Quote from: STT on September 17, 2022, 06:53:33 PM

Monthly chart we have been sideways since June, lots of movement but net result just sideways drift mostly which is how I would view 2022 in any case. To be positive now needs BTC price action to recover the mid August lows, we are above the 2 day average there is some short term positivity but ultimately we are on a giants causeway its just I cannot trade monthly bars as thats for the larger trade and hold to consider. Since this is the speculation part of the forum normally we do look at something closer to weekly bars and how we will resolve each week, for now we are in recovery and about 21k is quite important to regain and hold.

Yeah true, in fact since the luna deal happened we have been going between 18-22k, sometimes we go above but usually we are around those levels, I do not think that we are ready to move anywhere else just yet. I am not saying that it will be gone forever, all I am saying is that we shouldn't expect it for the time being, we could stay here for a longer term for sure.

I believe I will hold more and more bitcoin for a longer term, I just do not feel comfortable with checking the prices every day since it doesn't make sense for a long term investor like me, so I am not a good source of decision, but it doesn't look like it is going to move big anytime soon.

STT

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Monthly chart we have been sideways since June, lots of movement but net result just sideways drift mostly which is how I would view 2022 in any case. To be positive now needs BTC price action to recover the mid August lows, we are above the 2 day average there is some short term positivity but ultimately we are on a giants causeway its just I cannot trade monthly bars as thats for the larger trade and hold to consider. Since this is the speculation part of the forum normally we do look at something closer to weekly bars and how we will resolve each week, for now we are in recovery and about 21k is quite important to regain and hold.

TravelMug

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Quote from: GeorgeJohn on September 12, 2022, 11:06:11 AM

Quote from: Yaunfitda on September 02, 2022, 02:45:23 AM

And it seems we close the month at $20,100? That price though is still uncertain, chances are we might go down again and hit another lower low? I started this year with a bearish perspective just like the majority of us.

So we have the last quarter to proved otherwise, but I highly doubt that we will go up again. Most likely this will be the price for this year around that numbers and worst case is that we will go lower that $17,500.

The price of Bitcoin is rotational, and we can't continue to have same taught of the price, from the thing's i noticed about bitcoin the price do not stand stagnant. Sometimes we experience bearish and sometimes too we experience bullish, but what you have to know is that the bearish do take alot space or duration more than the bullish, so Bitcoin stand to go below 17k as people anticipated and it also have the chance to increase above our prediction

Or it will just be on a sideway pattern, until there will be a break out run. Bullish and bearish is a cycle in this market, and what we see is some occasional dip and recovery and then we move forward.

And so far the price is below $20k but I doubt that a lower low is going to met in this trend. So we just minor hiccup because of the CPI that really affected a lot of the market around. And then we have 2 weeks more before the end of September so we will see the monthly close again.

Silberman

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Quote from: Zanab247 on September 11, 2022, 11:04:38 AM

Yes, the market price is moving gradually for people to believe that the price of Bitcoin will hit higher in this month of September. The price of Bitcoin just moved to $21k in the market, showed that the price will definitely reach $40k before the end of September for those that bought with huge amount of money to get prepare to receive suitable profits from their investments soon. I guess, the price of Bitcoin will reach $40k or 45k in this month of September because there are some signs in the market right now that prove that people will experience massive profits from their long term investments before the end of this month.

It is very difficult to give predictions that are so specific especially when there is not really a lot of time left for that prediction to become true, you want the price of bitcoin to double in just 15 days, bitcoin is having problems remaining above 20k dollars and somehow you want bitcoin to double that amount in such a short time, something that simply doesn't look realistic to me or to the majority of the people, maybe this could be possible if we were in a bull market, but during a bear market this is simply impossible.

kotajikikox

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Quote from: calvinweight on August 31, 2022, 11:27:38 AM

As of this video we have 8 hours left in the month. If we close near $20k the trend is projecting a significant drop in September. The good news is that this should be the last one. The last one is the most emotional though so I’m expecting long wicks and lots of liquidations for those that haven’t done their risk management properly. Buckle up since when September is in the books things will start getting fun for years to come.

https://youtu.be/w6bk4SQuiPU

now we are near middle of september and yet we have not seen that significant drop ? when this will happen then? we are now crossing almost the end of the 3rd quarter so we are looking now for the great movement this last quarter of the year?

Davian144

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Quote from: ethereumhunter on September 07, 2022, 09:49:10 PM

Waiting for the market to move can be an exciting activity because if it turns out that the price drops drastically right away, that's a good time to buy some. Yesterday's slump in the market indicates that we are given a good time to buy bitcoins but it looks like not many will be able to use it to buy but just keep waiting. It's great if you just keep waiting and hold on to bitcoins while waiting for the price to rise again. We want to sell bitcoin at the next high, which could be a new ATH later.

I still have the patience to wait for Bitcoin to be at its new ATH again although it can be a little difficult to happen this year because Bitcoin price movements are currently only $22K+ from previously below $20K. And obviously this is a very exciting thing for all those who are still patient to see, because they certainly still have the opportunity to earn more profits if they ever buy Bitcoin at $18K or $20K.

I also continue to think that market conditions will continue to improve (especially in Bitcoin), because I think that the price spike in Bitcoin that occurred in the past few days is a very positive thing for market conditions this month.

sheenshane

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Quote from: GeorgeJohn on September 12, 2022, 11:06:11 AM

Quote from: Yaunfitda on September 02, 2022, 02:45:23 AM

...

The price of Bitcoin is rotational, and we can't continue to have same taught of the price, from the thing's i noticed about bitcoin the price do not stand stagnant. Sometimes we experience bearish and sometimes too we experience bullish, but what you have to know is that the bearish do take alot space or duration more than the bullish, so Bitcoin stand to go below 17k as people anticipated and it also have the chance to increase above our prediction

Because Bitcoin doesn't have infinite growth, it always has a volatile movement that no one knows where's the right direction on it.
I believed that Bitcoin will be in this price range of $20k which is why we noticed it's been struggling to pump up this month, though there's a short resistance it's expected by most that the correction will follow later on.

The best way in accumulating Bitcoin as of now is through a DCA way and hold until the new ATH will come, weak hands will always be a loser and those strong hands will always have a reward at the end.

GeorgeJohn

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Quote from: Yaunfitda on September 02, 2022, 02:45:23 AM

And it seems we close the month at $20,100? That price though is still uncertain, chances are we might go down again and hit another lower low? I started this year with a bearish perspective just like the majority of us.

So we have the last quarter to proved otherwise, but I highly doubt that we will go up again. Most likely this will be the price for this year around that numbers and worst case is that we will go lower that $17,500.

The price of Bitcoin is rotational, and we can't continue to have same taught of the price, from the thing's i noticed about bitcoin the price do not stand stagnant. Sometimes we experience bearish and sometimes too we experience bullish, but what you have to know is that the bearish do take alot space or duration more than the bullish, so Bitcoin stand to go below 17k as people anticipated and it also have the chance to increase above our prediction

dimonstration

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Dimon69

Quote from: Swordsoffreedom on September 12, 2022, 08:40:16 AM

Quote from: yohananaomi on September 12, 2022, 07:42:43 AM

Quote from: Zanab247 on September 11, 2022, 11:04:38 AM

Yes, the market price is moving gradually for people to believe that the price of Bitcoin will hit higher in this month of September. The price of Bitcoin just moved to $21k in the market, showed that the price will definitely reach $40k before the end of September for those that bought with huge amount of money to get prepare to receive suitable profits from their investments soon. I guess, the price of Bitcoin will reach $40k or 45k in this month of September because there are some signs in the market right now that prove that people will experience massive profits from their long term investments before the end of this month.

I don't think that there will be an increase in September even though now it has started to improve to reach $22K, but if we look at the past 2 months there has only been an increase to $24K+ and there is no ability to increase according to what you predict will be achieved. $40K.
it must be remembered that since the beginning of the year it continued to decline and had time to return to the same price as at the beginning of the year, two months later at the price of $47K+ and after that it continued to decline until now. so I'm not sure that bitcoin will increase soon in September, but it will increase not now maybe early next year to be able to reach your prediction.
about profits, it is clear that anyone who can hold on longer will be able to get very high profits in time.

In this market nothing is certain, does not confirm anything, especially the bitcoin price. September every year is supposed to be the month that doesn't have too many good things for bitcoin and the beginning of the month so far we also see a drop in bitcoin.

40k is the price everyone wants to see now or the end of the year, but in my opinion that goal is very difficult. This September we will have many more events that are expected to adversely affect the bitcoin price. September 16 will be the Mt.Gox bitcoin release event and the September 21 Fed meeting is expected to raise interest rates by 0.75%. I'm not sure how much it will affect, but these 2 events will affect bitcoin, so don't expect a bull market too soon.

Does that September 16 is the confirmed release date of the Mt. Gox funds distribution? I don’t see any official statement coming from Mt Gox officiall and all the article about this topic is just speculation. I remember that Mt Gox team member release an official tweet claiming that most of the Mt. Gox news are just hoax because there’s still no official plan since last August.

Inflation rate in US currently under control base on the last month result. I think this month result will be the game changer for Bitcoin for a possible reversal if the Fed meeting result to more positive news.

Swordsoffreedom

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Quote from: yohananaomi on September 12, 2022, 07:42:43 AM

Quote from: Zanab247 on September 11, 2022, 11:04:38 AM

Yes, the market price is moving gradually for people to believe that the price of Bitcoin will hit higher in this month of September. The price of Bitcoin just moved to $21k in the market, showed that the price will definitely reach $40k before the end of September for those that bought with huge amount of money to get prepare to receive suitable profits from their investments soon. I guess, the price of Bitcoin will reach $40k or 45k in this month of September because there are some signs in the market right now that prove that people will experience massive profits from their long term investments before the end of this month.

I don't think that there will be an increase in September even though now it has started to improve to reach $22K, but if we look at the past 2 months there has only been an increase to $24K+ and there is no ability to increase according to what you predict will be achieved. $40K.
it must be remembered that since the beginning of the year it continued to decline and had time to return to the same price as at the beginning of the year, two months later at the price of $47K+ and after that it continued to decline until now. so I'm not sure that bitcoin will increase soon in September, but it will increase not now maybe early next year to be able to reach your prediction.
about profits, it is clear that anyone who can hold on longer will be able to get very high profits in time.

In this market nothing is certain, does not confirm anything, especially the bitcoin price. September every year is supposed to be the month that doesn't have too many good things for bitcoin and the beginning of the month so far we also see a drop in bitcoin.

40k is the price everyone wants to see now or the end of the year, but in my opinion that goal is very difficult. This September we will have many more events that are expected to adversely affect the bitcoin price. September 16 will be the Mt.Gox bitcoin release event and the September 21 Fed meeting is expected to raise interest rates by 0.75%. I'm not sure how much it will affect, but these 2 events will affect bitcoin, so don't expect a bull market too soon.

yohananaomi

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Quote from: Zanab247 on September 11, 2022, 11:04:38 AM

Yes, the market price is moving gradually for people to believe that the price of Bitcoin will hit higher in this month of September. The price of Bitcoin just moved to $21k in the market, showed that the price will definitely reach $40k before the end of September for those that bought with huge amount of money to get prepare to receive suitable profits from their investments soon. I guess, the price of Bitcoin will reach $40k or 45k in this month of September because there are some signs in the market right now that prove that people will experience massive profits from their long term investments before the end of this month.

I don't think that there will be an increase in September even though now it has started to improve to reach $22K, but if we look at the past 2 months there has only been an increase to $24K+ and there is no ability to increase according to what you predict will be achieved. $40K.
it must be remembered that since the beginning of the year it continued to decline and had time to return to the same price as at the beginning of the year, two months later at the price of $47K+ and after that it continued to decline until now. so I'm not sure that bitcoin will increase soon in September, but it will increase not now maybe early next year to be able to reach your prediction.
about profits, it is clear that anyone who can hold on longer will be able to get very high profits in time.

Zanab247

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Yes, the market price is moving gradually for people to believe that the price of Bitcoin will hit higher in this month of September. The price of Bitcoin just moved to $21k in the market, showed that the price will definitely reach $40k before the end of September for those that bought with huge amount of money to get prepare to receive suitable profits from their investments soon. I guess, the price of Bitcoin will reach $40k or 45k in this month of September because there are some signs in the market right now that prove that people will experience massive profits from their long term investments before the end of this month.

ethereumhunter

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Quote from: Davian144 on September 07, 2022, 08:20:46 PM

Really, really not tired of being bear in the current market. Because yesterday I was surprised when I saw the continued decline in the market that made market conditions look worse even though it looked better for those who wanted to buy Bitcoin in a certain amount at a super cheap price. But I still don't hesitate to keep holding Bitcoin and try to hold it for the long term or until my desired price is reached again on Bitcoin.

Waiting for the market to move can be an exciting activity because if it turns out that the price drops drastically right away, that's a good time to buy some. Yesterday's slump in the market indicates that we are given a good time to buy bitcoins but it looks like not many will be able to use it to buy but just keep waiting. It's great if you just keep waiting and hold on to bitcoins while waiting for the price to rise again. We want to sell bitcoin at the next high, which could be a new ATH later.

Davian144

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Quote from: Alisha-k on September 04, 2022, 02:18:00 PM

Bitcoin closed around $20207 last month an the fear of a persistent bear market is likely to happen in the 3rd quarter of the year. The bear even kept pushing down ward in the first four days of september. If there could be a possible market recovery it will be too difficult to tell because it seems the bears are not getting exhausted at all

Really, really not tired of being bear in the current market. Because yesterday I was surprised when I saw the continued decline in the market that made market conditions look worse even though it looked better for those who wanted to buy Bitcoin in a certain amount at a super cheap price. But I still don't hesitate to keep holding Bitcoin and try to hold it for the long term or until my desired price is reached again on Bitcoin.

btc78

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Quote from: calvinweight on August 31, 2022, 11:27:38 AM

As of this video we have 8 hours left in the month. If we close near $20k the trend is projecting a significant drop in September. The good news is that this should be the last one. The last one is the most emotional though so I’m expecting long wicks and lots of liquidations for those that haven’t done their risk management properly. Buckle up since when September is in the books things will start getting fun for years to come.

https://youtu.be/w6bk4SQuiPU

but week after your post? yet the trend still falling so your link does not comply to what you wanted to imply to the forum.
20k wasn't the lowest because now as we speak there is a 19k holding but still chane to fall back again to 18k.
and this is not the last emotional time as there are more to come this whole 2022 as we are near to enter the last quarter.

Dave1

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Quote from: adaseb on September 02, 2022, 11:05:24 PM

I think all eyes will be on sept 13th which is significant because it’s when the ETH merge happens and when the CPI is released.

Oh, I thought that it is going to happen on Sept 6. That's why I was surprised to see the damage on the price near the ETH merge but I was wrong with the date. Although the market has bounce back to the $19k'ish and maybe on the 13th we may see some pump in the whole crypto because of the said merge.

Quote from: adaseb on September 02, 2022, 11:05:24 PM

The CPI is important because if we get a low number then we will rally hard. If we get something high like 1% again then we will dump hard since it means more rate hikes.

I agree, whenever the monthly CPI is released the market reactive positive or negative, just like the rest of other traditional markets. So this is again very important to watch.

STT

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Looking at the monthly bar is not giving any great significance, the Aug bar traded mostly within the range of the prior bar July and reflected that increasingly the price was constricted. We have broken that price range now it would seem, we had a larger movement on the 6th as it broke downwards back into the teens; this conclusion must not be confirmed in order to be valid.
I think now if we cannot regain that lost range for August end then we should be ready for a larger bias downwards. Positive recovery is what we have today onwards & above 19.2k we are above a 2 day average but it has to keep building in that way or its a far larger danger that its a lower ledge we fall to.][

Alisha-k

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Bitcoin closed around $20207 last month an the fear of a persistent bear market is likely to happen in the 3rd quarter of the year. The bear even kept pushing down ward in the first four days of september. If there could be a possible market recovery it will be too difficult to tell because it seems the bears are not getting exhausted at all

Reid

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I have always thought the last bear did happen and we are now on a portion where patience is crucial.
Who will give up? Who have the weakest hands to let go of their investment just because of impatience? Dejavu of what happened before where we are also in a moment that nothing can be done but wait.
And if it's true that the number of weak hands did increase then yes, another plummet will come.
Almost 4 months now that we are playing at 18-21k. I think that's a good sign.

tbterryboy

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Quote from: adaseb on September 02, 2022, 11:05:24 PM

I think all eyes will be on sept 13th which is significant because it’s when the ETH merge happens and when the CPI is released.

The CPI is important because if we get a low number then we will rally hard. If we get something high like 1% again then we will dump hard since it means more rate hikes.

All of us already marked that dates but first, we are looking forward on what will the price be of bitcoin before we end this month of august because that will usually have an impact on the start of a new month. So, btc declined a little bit during the last minutes of august which resulted for us to see a 19k dollar in price this September.

I think the bloodbath may continue for the next 2 to 3 weeks. Eth on the side can just continue on its transition from proof of work to proof of stake and that may caused a price boost on its own value which could also affect some of the altcoins and tokens but not in btc because btc is on a different line.

adaseb

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I think all eyes will be on sept 13th which is significant because it’s when the ETH merge happens and when the CPI is released.

The CPI is important because if we get a low number then we will rally hard. If we get something high like 1% again then we will dump hard since it means more rate hikes.

Baofeng

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Quote from: ?? on ??

It really makes me laugh when I read on the forum that people really believe in the new Bitcoin ATH at the end of this year. Cheesy

Perhaps they really don't understand what bear market means, or hasn't seen it before. But for us who have been here at least in 2017, have seen the worst in 2018-2020, this is just a repeat, so mostly likely this year is just the start of the bear market and might continue till 2023 or early 2024 or prior to the halving, approximately in May.

So yeah, we can't do anything at every month's end so just be prepared for the worst this quarter, at the end of the month. I still remember 2018 December though, some pump before Christmas and New Year, but that's it.

STT

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Monthly close matters, I dont know except in total sum its higher volume so has to be taken seriously as a good indictor for direction over shorter term measures.

Here is my very brief view, not monthly just recently we are in tiny bit of a triangle. I want to see it break out of this and give us a clue where we go next:

Franctoshi

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The more people are thinking that Bitcoin is going lower to $12k-$10k zones the less likely it is to become, Remember this is exactly what happened at 69k ATH, when almost everyone was saying to the moon "100k" and what happened was the opposite, Bitcoin tends to do what it wants to do at any given time, it's high time we just HODL and leave the market to do what it wants to do.

Don't forget that there are a lot factors that do drive the market like the macro factor and fears etc. in terms of fears, sometimes the market makers can just create fears in the market through various ways in order to buy. However , looking at the market structure using the monthly time frame, the possibility of Bitcoin getting a retest of 12k-10k cannot be thrown away, but it still a probability which may happen or may not.
In the other hands, market could equally decide to use the $17500 as reverseal point and not drop to the $12-$10k zones, and In addition to that, Remember that the four years simple moving average for Bitcoin is a the 21k.

Therefore, In my general view of the market, it's mostly likely that January 2023 could decide the bottom for Bitcoin base on past histories after Bitcoin's having, bottom of the market was during the month of January if I'm not wrong.

Kelvinid

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win lambo...

There are always good things to see in crypto. To see a spike in the market doesn't mean it ends the bear season, not that we expect in this current situation. I see we are too far to end this bearish condition and it is very likely we end up this year like this. Never get excited to see a few pumps these days because later on, it drops back again.

We only have two directions on whether the price of Bitcoin will pump next week or continue to reach the bottom.

Yaunfitda

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And it seems we close the month at $20,100? That price though is still uncertain, chances are we might go down again and hit another lower low? I started this year with a bearish perspective just like the majority of us.

So we have the last quarter to proved otherwise, but I highly doubt that we will go up again. Most likely this will be the price for this year around that numbers and worst case is that we will go lower that $17,500.

NeuroticFish

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Quote from: Charles-Tim on September 02, 2022, 01:31:50 AM

Quote from: calvinweight on August 31, 2022, 11:27:38 AM

As of this video we have 8 hours left in the month. If we close near $20k the trend is projecting a significant drop in September.

Significant drop to what price? The significant drop known has been when bitcoin dropped from $48500 to $17600. Can their be a drop from $20000 to prices that re significantly lower? The strength at $20000 is strong and I am not thinking bitcoin would drop much below $20000.

OP was very focused on this drop, he may have been expecting it exactly in the night between August and September and.. it didn't happen as he expected.
However, I see two conflicting directions here:
1. The historical crypto winter may not be over (may take 1-3 more months) and this means a new leg down is possible (and the worse case scenario is under 10k!).
2. The rainbow chart shows the price is in the low area and it's not much (if any) room for going lower.

Some will go by some indicators, some will go by another, hence some will always be wrong. I find it a good time to buy, HODL and wait for the "winter" to get to an end.

Charles-Tim

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Quote from: calvinweight on August 31, 2022, 11:27:38 AM

As of this video we have 8 hours left in the month. If we close near $20k the trend is projecting a significant drop in September.

Significant drop to what price? The significant drop known has been when bitcoin dropped from $48500 to $17600. Can their be a drop from $20000 to prices that re significantly lower? The strength at $20000 is strong and I am not thinking bitcoin would drop much below $20000.

We should not also forget that this is the time to hold.

Quote from: calvinweight on August 31, 2022, 11:27:38 AM

The good news is that this should be the last one. The last one is the most emotional though so I’m expecting long wicks and lots of liquidations for those that haven’t done their risk management properly. Buckle up since when September is in the books things will start getting fun for years to come.

It is normal that traders that are not good and professional enough would have active trading asset that would be liquidated, but I am not expecting any liquidation for holders which only just bought bitcoin, always remember that 1 BTC equals 1 BTC, no liquidation price, unlike leverage and future and option trading which liquidation is possible.

btc_angela

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Quote from: calvinweight on August 31, 2022, 11:27:38 AM

As of this video we have 8 hours left in the month. If we close near $20k the trend is projecting a significant drop in September. The good news is that this should be the last one. The last one is the most emotional though so I’m expecting long wicks and lots of liquidations for those that haven’t done their risk management properly. Buckle up since when September is in the books things will start getting fun for years to come.

https://youtu.be/w6bk4SQuiPU

It looks like we are going to close the month just above the $20k price. I wouldn't be surprised to see a drop even up to the end of the month because we are in a bear market.

Although usually in December there could be significant increased but nothing spectacular. Nevertheless, as you have said, we should just expect the unexpected and let this year ride all throughout with a good risk management. I guess for the majority, the risk is nothing, I mean we should just hold and see how it goes in the future.

Oceat

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Nah, even if the month end there's a little to expect to the Bitcoin market since we are in the bear market and I don't mind if what happens then I'll just have to HODL. It's frustrating and tiring to watch the market almost everyday just to know if there's an improvement of the price but we should understand that during bear market you can't expect something to change in the market. You just have to hodl and wait patiently for the bull market to come.

NeuroticFish

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You've made two topics today on monthly close? I start to think that this monthly close didn't get the attention you've been expecting and try to do more.

Well, we're in bear market. And the bear market will end. Maybe it did, or maybe it ends today, or in a couple days, weeks or months. Learn to have more patience and enjoy the ride. And yeah, HODL.

calvinweight

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As of this video we have 8 hours left in the month. If we close near $20k the trend is projecting a significant drop in September. The good news is that this should be the last one. The last one is the most emotional though so I’m expecting long wicks and lots of liquidations for those that haven’t done their risk management properly. Buckle up since when September is in the books things will start getting fun for years to come.

https://youtu.be/w6bk4SQuiPU

Topic: All Eyes On Bitcoin’s Monthly Close (Read 843 times)