Bitcoin breaking the biggest limit since match price push - page 2.

Baofeng

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Quote from: boyptc on April 10, 2023, 05:48:56 PM

$29600 as of writing now.

While there were some positive actions that can be seen to bitcoin and the push that has been made just now. I still see some of those predictions from outside the forum that they're still waiting for $10k.

If they continue to wait, then they are going to lost their battle, because the chances are slim for bitcoin to hit $10k, in my opinion. We may have seen the lowest low for all we know for this bear cycle. And we have been trading sideways for the last 10 days, and now there is a big uptick in the price, and we might see $30k for this month or even higher if this bullish sentiments and FOMO continue.

As for the CPI report, speculators are hinting that the Fed will end it's series of interest rate hike.

If this is the case, the most likely, Bitcoin and the rest of traditional market is going to really because of this positive news.

hatshepsut93

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I'm wary of this recovery, the halvening and the bull run that comes after it are still far away, so the market can still reverse and have a correction. If we look at the previous cycle, Bitcoin recovered to $10-11k, which was 50% of the peak value, but then crashed again before the new cycle started. If something similar happens now, we can fall to $18k again in this year. That's if the previous pattern still holds, which might not be the case anymore.

philipma1957

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Quote from: stompix on April 10, 2023, 03:21:56 PM

Quote from: philipma1957 on April 10, 2023, 02:58:00 PM

Mostly chatter. The game of chicken is CPI and Fed Rates against inflation.
We get CPI number in a few days. which determines what fed will do.
It is obvious that many are upbeat which is why we push up near that CPI date.

Same pattern, the push right now is the same as in the last two months, seems like a lot of betting is going on the numbers, and everyone expects positive news, probably if it weren't for that oil bump things would have looked a bit more clear, but right now it's again 25 points probably.

Anyhow, speaking of US data, saw something funny about the job data released a few days ago:
U.S. economy adds 236,000 jobs in March as labor market stays strong
US adds 236,000 jobs in March as labor market weakens
So yeah, this volatility despite a 70-80% chance of 25 points starts making sense when two people look at a duck and say it's a goose or a swan.

I will tell you this the Fed can do 0.25 over and over and over again, but I do not think they will do more than that which translates to:

0.25 May
0.25 June
0.25 July

then a cut? or a flat in Sept

Which all translates to a massive btc rally in fall. or not Wink

boyptc

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$29600 as of writing now.

While there were some positive actions that can be seen to bitcoin and the push that has been made just now. I still see some of those predictions from outside the forum that they're still waiting for $10k.

Like, I know that it's possible and bitcoin is too volatile that it can go as high as it can and go down more than what we're expecting. But realizing the situation now and cycles, it's very unlikely that we may see that falling on that price ever again.

Franctoshi

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Quote from: philipma1957 on April 10, 2023, 02:58:00 PM

Mostly chatter. The game of chicken is CPI and Fed Rates against inflation.

We get CPI number in a few days. which determines what fed will do.

It is obvious that many are upbeat which is why we push up near that CPI date.

Exactly, I guess so too , Today is Monday and we've gotten such rally, I do think on before the CPI data release that Bitcoin price will manage to reach $30k level, And the report would also determine whether we would continue to move up side or get a short term pull back. However, I want to get some Bitcoin at a bit discount price, So I would love to see Bitcoin get a price correction towards 25k, so that my orders can get filled, I have buy orders at 26K, 25k,24k,23k, and 22k.

Ndabagi01

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Quote from: Ojima-ojo on April 10, 2023, 04:42:59 PM

This is significant enough to let us anticipate the $30,000 price benchmarks soon as Bitcoin has to build a stronbuildistance around the current price.

The resistance limit bitcoin held onto throughout the month of March is positive. I was expecting a breakthrough to $30,000 but it didn’t happen. We are already getting to the middle of this new month, seeing the price moving and maintaining the $28-$29K+ limit, a $30K is most likely possible before the end of the month. But more bearish time is still coming ahead before the bitcoin halving takes place.

Ojima-ojo

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Quote from: Oshosondy on April 10, 2023, 02:59:54 PM

All we have been seeing is showing that bitcoin may get to over $30000, but this leaves many people in confusion if bitcoin will get to $30000 and start decreasing. But as to how I think about it, bitcoin is going to stay bullish for long time before going bearish. I believe Bitcoin may go bearish one more time before halving, but it will remain bullish this time.

BTC have struggled severally to achieve the $30,000 price benchmark mark against what was popular speculation around January this year we heard a price run off that point to that direction in January but February through match has been steady movement even though Bitcoin hardly make 3% price increase at each point of bitcoin price chat all through those months, there is no doubt that it was within those months that Bitcoin managed to make a steady recovering to $28,000 and now $29,000+

This is significant enough to let us anticipate the $30,000 price benchmarks soon as Bitcoin has to build a stronbuildistance around the current price.

_BlackStar

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Quote from: pixie85 on April 10, 2023, 03:59:56 PM

I've seen some predictions last week and many analysts (I think one the more popular ones was Michael van de Poppe) claimed that if we go towards 29k resistance again, we'll break it to the upside and this is exactly what happened. This proves that there's a very strong and significant pressure from the buyers and that no outside manipulation like the selling of coins by US government can change this.

It looks like the next step is 30 thousand.

I think that many people keep thinking what they should do and if this trend is going to continue. I advise you look at the moving averages. Usually when bitcoin goes above the 200 MA it changes the trend from bearish to bullish. For the first time in many months we're above the line. In fact, since July 2022. This is an important indicator that you should not ignore.

So far it seems that the price prediction is in accordance with the reality in the market. The bitcoin price has managed to break through the $29k resistance which is likely to reach $30k in some time. Great start to the week for bitcoin but anyway the hardest thing right now is keeping the price above $29k let alone expecting it to be new support for bitcoin price.

Right now the bitcoin price is trading at the exact same price as it was on June 11, 2022, if this trend continues then $32k can be expected. Early bullish may have been made, but let's see how far this trend going on.

pixie85

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I've seen some predictions last week and many analysts (I think one the more popular ones was Michael van de Poppe) claimed that if we go towards 29k resistance again, we'll break it to the upside and this is exactly what happened. This proves that there's a very strong and significant pressure from the buyers and that no outside manipulation like the selling of coins by US government can change this.

It looks like the next step is 30 thousand.

I think that many people keep thinking what they should do and if this trend is going to continue. I advise you look at the moving averages. Usually when bitcoin goes above the 200 MA it changes the trend from bearish to bullish. For the first time in many months we're above the line. In fact, since July 2022. This is an important indicator that you should not ignore.

ShowOff

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Quote from: Ojima-ojo on April 10, 2023, 02:47:08 PM

Since the beginning of the year 2023, bitcoin has been on a steady but slow uptrend movement with a lot of resistance along the way and in the month of February struggle all through to attain and sustain a $23,000+ price but in mid-match to the ending of the same month Bitcoin finally, break that barrier to reach around $27,000-$28,000 with wide wind of resistance that keeps BTC price at that level for a long while.

Put seeing that bitcoin has pushed ahead of that resistance during the esther holiday to reach as high as $29,300+ which is a significant uptrend that will leave many to speculate what price bitcoin is going to reach in its current price trend, your speculation of the current market condition are all welcomed.

$30k is increasingly looking real to me regardless of the current state of the economy. Today the price looks up and broke the $29k resistance, but I really want $29k to hold through April. Of course there has been a lot of speculation about the price bitcoin might reach over the course of April, but I think $35k is still a hard to reach if a lot of people are pushing for more selling. We are currently into 4 months of increase since January 2023 and hopefully that will continue for the next few months as well.

stompix

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Quote from: philipma1957 on April 10, 2023, 02:58:00 PM

Mostly chatter. The game of chicken is CPI and Fed Rates against inflation.
We get CPI number in a few days. which determines what fed will do.
It is obvious that many are upbeat which is why we push up near that CPI date.

Same pattern, the push right now is the same as in the last two months, seems like a lot of betting is going on the numbers, and everyone expects positive news, probably if it weren't for that oil bump things would have looked a bit more clear, but right now it's again 25 points probably.

Anyhow, speaking of US data, saw something funny about the job data released a few days ago:
U.S. economy adds 236,000 jobs in March as labor market stays strong
US adds 236,000 jobs in March as labor market weakens
So yeah, this volatility despite a 70-80% chance of 25 points starts making sense when two people look at a duck and say it's a goose or a swan.

Oshosondy

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All we have been seeing is showing that bitcoin may get to over $30000, but this leaves many people in confusion if bitcoin will get to $30000 and start decreasing. But as to how I think about it, bitcoin is going to stay bullish for long time before going bearish. I believe bitcoin may go bearish one more time before halving, but it will still remain bullish this time.

philipma1957

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Quote from: Ojima-ojo on April 10, 2023, 02:47:08 PM

Since the beginning of the year 2023, bitcoin has been on a steady but slow uptrend movement with a lot of resistance along the way and in the month of February struggle all through to attain and sustain a $23,000+ price but in mid-match to the ending of the same month Bitcoin finally, break that barrier to reach around $27,000-$28,000 with wide wind of resistance that keeps BTC price at that level for a long while.

Put seeing that bitcoin has pushed ahead of that resistance during the esther holiday to reach as high as $29,300+ which is a significant uptrend that will leave many to speculate what price bitcoin is going to reach in its current price trend, your speculation of the current market condition are all welcomed.

Mostly chatter. The game of chicken is CPI and Fed Rates against inflation.

We get CPI number in a few days. which determines what fed will do.

It is obvious that many are upbeat which is why we push up near that CPI date.

Ojima-ojo

hero member

Activity: 910

Merit: 507

Since the beginning of the year 2023, bitcoin has been on a steady but slow uptrend movement with a lot of resistance along the way and in the month of February struggle all through to attain and sustain a $23,000+ price but in mid-match to the ending of the same month Bitcoin finally, break that barrier to reach around $27,000-$28,000 with wide wind of resistance that keeps BTC price at that level for a long while.

Put seeing that bitcoin has pushed ahead of that resistance during the esther holiday to reach as high as $29,300+ which is a significant uptrend that will leave many to speculate what price bitcoin is going to reach in its current price trend, your speculation of the current market condition are all welcomed.

Topic: Bitcoin breaking the biggest limit since match price push - page 2. (Read 282 times)