Topic: Bitcoin current range: $25K to $32K (Read 340 times)

@dansus021. Do not draw those trendlines because it might appear something similar to a bear flag heheehhe.

In any case, what does everyone speculate? Have we moved on from the stage of disbelief and have begun to enter the stage of hope? We might be, I reckon.

Also, the stage of optimism might being on $40k?

Good news comes and boom Bitcoin broke the 32K range since I'm not yet voted then I wonnnnnn this vote  . Next target would be 40K level see you guys on top. But I do believe will be correction after this maybe in a couple of week.

Bitcoin made it to 35000 even at coinbase today. the highest it has been in over a year.

bitcoin has broken through 33k level many times not long ago and indeed it keeps getting back to 32k level there are indeed huge resistance but it seems bitcoin just gonna go higher than 32 k in the upcoming days.
I wonder if altcoin will also follow after all there are many altcoins that has increased already.
the market is getting lively again and the market seems interesting many green everywhere just because bitcoin is rising.
i'm expecting that if bitcoin could really reach 40k within months then the altcoin will also rise tremendously unlike before in bearish.
even though we are still fraction of all time high, thats already good enough.

The current news and article content is all about the optimistic sentiment of traders about ETF that fuel the current trend of Bitcoin. As far as I know, there is no major reason for this price increase except for the positive sentiment about ETF being approved.  The recent fake news about ETF approval is indeed a big help in making traders realize that ETF is one big factor that can initiate a bull run.


People have been accumulating Bitcoin all throughout the years but this current uptrend is said to be the optimism about the positive effect if ETF is approved.

My vote is early December this year that it will broke out on this current range then will likely cool down until post-halving again. If the ETF will be approved I don't think we can see it all in the chart it will be off chart to see 35k or 40k ranges. I think this current run was because of the pre-approval of the ETF and I'm positive that it is getting approved next year.

The price over the past has been positive but you can't compare what happened to this year's movement there must be a change and I believe this year's movement is better than that of last year October.
The price is $31k and nobody have ever said it will get to $31k in this October so with how we're seeing what the market price is feeding us I believe it will surpass $32k. I just can't get it but I still have that feeling of seeing the price getting up to $35-39k before the end of October. Is surprising and I've been asking what's happening that the price is seriously going up?

Positive news or events? Not necessarily needed though since people will now gradually accumulating more bitcoin to prepare themselves for the upcoming bull effect probably after the halving.
People are just rushing things out wanting bitcoin to hit specific level everytime it makes a small progress.
It's better this way, than a sudden huge pump as it may cause some FUD, then people might be selling too early depriving bitcoin to make another run to break another ATH.

Lots or tons of people had already anticipated considering that they've seen that chart that October is most likely a bullish month and it did really go as planned or anticipated.We've see some significant movement considering that we've been doing sideways and extreme corrections which leads up to that assumptions that this would continue until the end of the year but it seems that it was still that following on that table pattern  on which it is really just that good to look at. If the price would really be holding on 30k price point then it would really be that good to look at with the new support and 32k would really be the next roof that needs to be break so that we could push through 35k which it would be that an another tough resistance to break until we would be able to touch up that 40k but well everything do looks fine or really that follows
on what are those tables been saying about percentage per month whether a green or red.

For those people who had bought that earlier are the ones who do make out such profit in short time, which it isnt really that only limited to Bitcoin but also in other coins as well
which we know that whenever Bitcoin do make out some green move then expect that most coins in the market would really be dragged on just the same on which
this had been a typical behavior that we do have on this space on which it isnt shocking anymore.

There is heavy resistance at the 32k level. You are right that as long as BTC stays above the 30k level it will work as a support and the 32k level resistance will become weak. The month of October usually shows bullish sentiment and this time the same things are happening. We are almost at the end of octobar and i think these last few months will remain bullish for the overall crypto market.

The same old saying we often say, bitcoin is unpredictable and there is nothing certain with bitcoin, it's all just a prediction and it may or may not happen. Let's not forget that this is not the first time this year that bitcoin surpassed $30k or even $31k, but previous times it could not stay there for too long. Will this time be different, or will it be the same as before? We need time to answer, we have no evidence to be sure whether it will continue to increase or decrease from here. It's better to look long term.

There is no such thing as certainty - the trend could change at any time, but let me tell you that the price movement over the past year has been quite positive. Price volatility will always be present - but the price increase over the last 1 year has been very good. Of course we haven't broken the $32K resistance over the last year, but getting a 60% gain is great.



The halving is expected to be a fundamental one that has an impact on price increases - but I think there will be a bigger impact than just the halving if a spot bitcoin ETF is approved. I'm waiting for that good news - but the focus right now should be on building a great portfolio.

It's really interesting to see how the price of Bitcoin has increased over the past few days with the green light in the market. Today the Bitcoin market peaked at $30988 which I think is the highest bumping in the past few months. Certainly the market has started to move upwards in this month of October, Bitcoin market has been increasing the most in this month of October compared to other months. Given this market shift, we can expect Bitcoin to be in the $35k/$40k range by the end of 2023. And if the Bitcoin market continues to grow like this until the end of October, then it will definitely go to $40k dollars, it will not be surprising. Because Bitcoin halving is waiting for us ahead for which Bitcoin market is trending upwards. I think Bitcoin price will touch $60k if the green candle starts burning like this.

Still very though to assumed that we are out of the bear market if we hit $30k-$50k. Let's say that the catalyst for a bull run is still next year's block halving. But it is good if we see the price along that line before the halving itself. It's already high, but it would go higher after the block halving. And it also means that since the starting price is already high, then if we go on a two year run, then it could really grown $100k-$180k as others have predicted.

So for now we will take what the price will be. But short term or at least for this month, it's good to see the price back to $30k. And the month of October never really failed us. I mean if we look at it's past history, it seems to be this month is always positive for us. And in the last week or so, there is a big possibility that the trend will continue.

If we are in the 30k-50k range like you said then we are out of bear season and into bull season, which is not at all true of what is happening. Bear season is not over yet and if we can reach $32k in the coming days there is no guarantee that bitcoin will not drop to $25k again. I remain optimistic about October and November, but in the long run, I still believe there will be many more corrections before the bull season truly arrives. As for bitcoin reaching $100k in the next few years, it is almost inevitable.

I want to know when is your prediction that it's going to go down again, so I can save some of my money in case and buy myself a hefty amount after getting out at a possible 48k.
If you want a positive news, November and Christmas is a historically pretty good for bitcoin price so I don't know how good you want the news to be but I think that's a good enough news to be bullish about bitcoin breaking the resistance at 30k, who knows, we might see bitcoin go at a really high price before the halving but don't be too hyped up that you will put everything you've got on bitcoin, invest wisely.

Bitcoin price is really getting to a height where we don't need to talk about it going down or say it's just for the time being before it starts going down, at $30,600k I believe it has this pressure of bumping more than the current price. I think the market is on the healthiest side as we head into the closing part of this month of October.
For me the range at this point should be from $35-$40k+ before the end of this year and we shouldn't be surprised if we see BTC price getting to $40k before end of October. The greens we're seeing should let us know that sooner than later it might get to $60k.

The resistance will not get weaker on Bitcoin, you can see how Bitcoin's price movement today has almost reached $31K and this is proof that Bitcoin has penetrated the $30K resistance level this month and it is possible that it will continue to do so next month. because I am also hoping that it will not stop at $31K to end the year because there are still two more months for Bitcoin to rise again this year with a foundation of extraordinary resilience.

I think the range Should now be set between $30k to $50k, because I don't think it's going to go back that much, so when you look at the Different Analyses, they are all showing that the bitcoin can reach $32k, so I think that the moment that is fulfilled they can say that the range will be the one I said before, I can say that, but another thing is if it completely moves the price, and it could be the ETFs that are Doing their thing separately, and of course When the halving arrives everything will change because it will be much better the moment the price rises , I do think that Bitcoin can reach more than 100 thousand USD in the next few years.

I'll just try to be brief. The BTC price movement is impressive and if you look at this market, a positive news event is really needed for BTC to be able to exit at $31K and if not a reversal occurs again because if it just stays there and stays at the $30K level the weaker the resistance will be.

Current market indications suggest that Bitcoin will cross $32,000 by the end of October. We have seen Bitcoin price between $26k for the past few days but the way Bitcoin price has been moving upwards for the past few days we expect to see Bitcoin bulls. Although the bull market is still days away, Bitcoin's price is increasing day by day as we approach the day of the halving. The Bitcoin market was very low for the next week but this week the Bitcoin market has made a good high and currently the price is around $31k. This movement in the market seems to suggest that there may be further growth in the Bitcoin market followed by some dumping. But I think the price of Bitcoin is going to go up as our halving approaches. Of course, we have to look at this trend of the Bitcoin market to keep hope that the Bitcoin market may change for the better in the coming months and may touch $40,000.

The price is going up and it was $29,975  when I checked last. And I am predicting $35+k to $45+k at the end of this year. The price entered $30,300 on the morning hour on Sunday 22/10/2023. And came down a little bit and it rising up again. Base on the way it moves now o don't think the price will still come back to $25+k again before the end of the year.

It was late this month the price of bitcoin also rose up last year. So it is the same way it did last year is the same in this year.

We have a lot awaiting Bitcoin going forward and this is because Bitcoin halving and the ETF is all about the cardinal point that will lead us to a more visible Bitcoin market,  although bitcoin may not go too much above the present price and value,  but then we may not see any price decline either, that is to say the price of bitcoin is going to be relatively stable for sometime before it can take any possible position after then, i don't know how and when or which direction the price of bitcoin may take, but on the long run, we will all see the reality of the market for yourself and being able to forecast more thereafter

Todays top price and this weeks top price is the 78% retracement of the highest to the lowest prices of the last six months.  Its retracted a bit from that measure but seems like it can continue to do more before any reason to sell is found properly.  The volume with days with positive action is better then pullbacks, thats a good indicator of strength for us to continue also.

Damn - I see it dropping to the $29,800 area now, but that's not bad at all. To settle above $30K we need to prevent selling pressure among traders - but that will never happen because there are many traders who exploit daily volatility to gain profits. To say sideways between $29K to $30K at the moment is very reasonable - but I think we have hope of breaking $31K before October is over.

The positive impact of ETFs is certainly expected - but ETFs haven't happened yet and the SEC hasn't approved them. Big price moves are of course expected due to ETFs and halvings - but it's true, we may need to be more patient to see the reality. However, preparing a portfolio is important to do now, regardless of whether the ETF is approved or not.

It is really difficult to predict when bitcoin will break through its current price because market conditions are still difficult to predict.
From the poll list, many possibilities could happen while we don't have exact information on when it could happen. And if I had to choose, maybe I would choose December or January, bitcoin could get out of $32k.

But I don't know, I don't have any idea what will happen. But as a bitcoin investor, I'm not worried about when the price will break through to its current price. My target is still very far away, especially since Bitcoin has not yet reached its final ATH.

At least this year I guess.
I did a quick research on how the Halloween effect affects the market, and I saw this paragraph on one websites: LINK

Basically, markets tend to be better in the months of November to April than that of May to October. This Halloween effect isn't a certainty that the market will be better after this month, but base on the website I shared, it also shows that S&P500 tend to have better returns in November to April. We know that the price movement of Bitcoin and S&P500 are somewhat correlated, so... yeah there's a chance.

Overall, I expect Bitcoin to go higher than $30,000 in the final months of 2023. Will it surpass $32,000? Let's see first because it seems like there's a huge selling pressure at around the $30,000 as we've seen in the last few days.

As most users have predicted we'll see the price reach high around $35k as we've got two and a half months to end the year. If some good news as the adoption from corporates happen even this could go much higher. For now the market have turned bullish and in between market fluctuations will continue while reaching price barrier. Good is to make use of the opportunity and increase the holding volume.

32-34k by oct 1.

35-39k by dec 31

45-48k some time before the april ½ ing.

In my personal assessment, I think that before the end of this year, Bitcoin's price range will play 35k–40k, and entering 2024, either in January or February, it is possible that the bull run will start gradually in the market based on my apparent understanding of the chart in the timeframe I have set up.

But anyway, as others have said here, this is just my speculation, so the breakout is really possible when we enter the price around 32k, according to my prediction that is visible at the moment, even though how.

We might stay at the $29k-$30k range for a while though. But if we continue to trade above MA200, then we might see long term growth.

So it will be interesting whether we can really break $30k and remain bullish, because if that happens, then the bullish sentiments might continue till the end of the year and we will have a break out run to $40k.

It's really hard to comment on the effect of Bitcoin ETF though, yeah it could bring more money, but for me it's better if we really see it actually happen. And it might align with the bull run that can happen next year. So everything hangs on SEC right now.

The $32K resistance will not be very strong as the market continues to test higher resistance after $30K is broken. Optimism about the market recovery is running high considering that rumors about the approval of a spot bitcoin ETF have given strong fundamentals. I'm not sure about when we'll get past that range - but $32K shouldn't be considered too strong right now.

Currently the price of bitcoin is above $30K - that's good, but it would be even better if $30K became support. I expect the $31K resistance to be tested over the remainder of October - so that would make $30K good support for a breakout of $32K in November. I see people are more optimistic in December - but I tend to agree that it will start from November.

I expected us to see that 32k in this coming new week,  because at the moment Bitcoin is gradually climbing to 31k and if the trend continue in the current strength,  it won't take long before we begin to see that happening just like what we witness as Bitcoin moved from around $25k+ to the present price,  this is a great and a whole new level for the market and of spectator,  we may not see a new all time high in bitcoin price right away,  but then also we should expect to see some form of recovery for the market as the days pass and if care is not taken,  bitcoin could possibly break up to $35k in this coming week.

So while we handle we should also DCA along the way up to take profits,  and that is for those who bought bitcoin at below 25k level,  because at the moment,  you are already in gain,  so taking profits ain't a bad idea at all.

^^ It's good if we are seeing the resistance at $32k now, as we have breach $30k again. But hopefully, this time $30k will be sustained as we have been in this situation before wherein $30k is the price that speculators are taking profits, I'm basing this on the year's movement. If I'm not mistaken, around April as well, we have this kind of movement but suddenly goes down to $28k.

But it could be very different based on the data that you have shown, maybe it's because we are nearing the end of the year and it's pretty much the attitude is that we should be really accumulating as next year comes bitcoin halving.

Just thought I'd add that Daily RSI is at it's highest level since January 2023, so highest level since price has been >$25K and in the current range.



Not sure of the significance but does suggest that sellers aren't in a rush to be taking profits back to fiat at current prices. 

Maybe also unsurprising given that the main resistance level is now up to $32K rather than $30K.

We are just speculating here so you are free to say what you say because the accuracy of guessing prices is not 100% - my own observation is probably in November or the end of 2024 as we will see market growth.

We are waiting for the next ETF news, I think it will come with something positive which we will enjoy hearing in the media because it has been approved by the SEC, now we are still very curious about what will happen next and maybe this is the factor that Bitcoin can fly.

Your last words, I don't understand fake and genuine products, I don't digest them properly.

Price will definitely go up. Yes we just don’t know the exact time when it will go up. But that means we shouldn’t lose hope from it. We have seen the capabilities of the coin, so it will be great if we keep the faith on. Bitcoins are limited in numbers, hence we should always accumulate as many coins as we can. We have also seen Bitcoins following a 4th year cycle pattern to reach new ATH price. 2024 is the 4th year, so we can say we might see a new ATH price soon.

I think market not allowing to go any further down was the breaking point, we got stuck at around 28k levels for a long time and the market probably tried to go down but it didn't, which basically told all the sellers that you shouldn't sell at this point because we are not going any further down and that would be a bad move to sell at the bottom. So that resulted with market realizing they have to end up buying, or at least not selling since it is not going down that's the only options that makes sense. This resulted with price going a little higher and I am hoping that it will continue to go higher.

I wouldn't even say 25k is in the range anymore, we haven't been 25k for a long time and there is a slight possibility that we may never see that ever again, just like how we didn't see anything under 10k for years now, 25k might be long gone and never coming back. That's of course too soon to tell, we need to wait a bit longer to make sure that's true.

Just to be safe in my prediction, I have voted for Apr-Jun 2024 or later. I'm basing on the past movement of Bitcoin pre and post halving. But if I'm wrong on this one, just fine since we're all just having our thoughts, opinions and guesses on this one.

Another factor aside from the halving will be the ETF news. Once there's a legitimate news about just one approval from those, we'll actually see the break out.

The fake one did a huge jump so we're putting also our faith on the legit one.

Yes we have been in this range since March and it’s starting to look like a diamond pattern if you pull up the daily chart and zoom out. These patterns are hard to trade because you don’t know which way it’s going to go until it’s too late to enter. Basically if we break $32K and hold and then head towards the $35K area then we got a bullish confirmation but if we break $25k then it’s the complete opposite.

Right now all eyes are on the etf news. However with what is going on in the political world and the way bonds are trading I don’t know if there will be a massive dump of equities which might make bitcoin also decline.

The key factor here revolves around the news of Bitcoin spot ETFs. Global X's proposal is set to be announced no later than November 21, 2023, while the deadline for ARK's Bitcoin ETF falls on January 10, 2024. My prediction is that between November 2023 and early January 2024, Bitcoin will demonstrate its response to the SEC's announcements.

Late December 2023 coincides with the festive holiday season, making it a fitting year-end gift for all of us. BTC may well surpass the $32,000 mark by the end of this year.

However, let's circle back to our emotions. A rejection by the SEC in their announcement will only marginally rattle the market. It won't plummet below $25,000, and there are still other potential announcements on the horizon that could threaten the bullish market. It's a ticking time bomb, and Bitcoin's bullish trajectory hinges on the SEC.



BlackRock is set to follow suit in March 2024 next year. Stay composed, and hold onto your Bitcoin, my friend.

My vote is on November 2023 hehe. This pump might be caused by a speculation on the approval or rejection of Global X's ETF application which will occur on November 21. Also, similar to what I have said before, the market might also be in a stage of disbelief where it might cause fomo if bitcoin pumps very strongly over $30k. The people who are waiting for another big dump will certainly buy wildly on any price and cause a short squeeze against the traders who are short selling and speculating on a big dump hehehehe. This is before November 21.

On November 21 and after this, it might be different. It might be sell the news. It might be good news, however, there might be traders who will still dump to take profit. However, price of bitcoin might not anymore dump under $30k and this might cause disbelief to become hope. Everyone who was waiting for another big dump will be forced to buy and this might pump bitcoin to $40k heehehe.

After the panic caused by fake news about ETFs, today we see bitcoin showing a good trend again. The $30k resistance was broken which proves that there is a possibility that the $32k resistance could also be broken during the end of this month, however I prefer to get that resistance broken in the November to December range. The end of the year will certainly be more convincing, so I think bitcoin will past away of the $25k - $32k area by December.

The assumption regarding sideways is not wrong, but JP Morgan's analysis of the possibility of ETF approval will certainly have an impact on increasing demand. I agree that faster is definitely better, but slow but sure is fine as I tend to hodl with it in the long run.

I had not thought about $32k but that range is very good, I do not think it will go below $25k because from what I am seeing there are many analysts who are predicting that it can reach $30k and that is a very good thing, because I'm hoping it can reach that price, but if it doesn't it could be that now things could go up to more than that, I think this easy year can reach up to $40k because everyone buys in December and in December everything is more cao, and that means that they can make many who can give bitcoin as a gift and that is a good gift that can be Appreciated.

A Holder will have this view because they don't want to speculate and prefer to enjoy the price movement in which direction it goes, if it is still in the range of $30K and above they will continue to consider buying, another for traders they will think about the current chart pattern.

$32K is still very possible if only the duration of guessing until the end of the year because a little spike again may occur due to the effect of some news that will come later, but I am curious that in October it has broken $30K but soon it seems that it will return to $30K again.

My view is that $32K will not be long, usually a little positive news the price can stick out again but the resilience of the market often sees support always not strong to break through its resistance, my guess is maybe it will soon go to $32K.

The Bitcoin market is on the way and with the current scenario I will consider it very bold to say it will move within a speculated range, a few more positive developments can make it very easy for the market to break through this range. Keeping in mind that any sort of upset can cause the market the move sideways again.

The support level of $28K will soon face regular tests if the market moves without any major development boost. Initially, before the end of Q3, I was expecting this year's closing around $40k+, but now seems like $35k will be an even bigger hit.

Ironically I agree with you, as I don't see a break to the upside in a hurry. If we break to the downside of the range this year, then sure, price can return to the lows.


We've already been in the range for 7 months, with two tests of both resistance and support now. I don't see how remaining in it for a few more months is out the question anymore.


Remember that we saw bullish intent in March this year, followed by June, now September/October, so there is a pretty clear pattern here - it's roughly every 3 months. The only relevant aspect that came out of all this bullish intent was establishing a long-term range between $25K and $32K however. Your reasoning sounds like hopium though rather than fundamentals.

Eventually speculators will stop falling for the rumours of an ETF getting approved anytime soon, and simply wait for it to be confirmed, knowing it could be months away still.

Rather than guessing and speculating on prices that are still irregular like now, I would rather enjoy every movement. We know that no one can guess and everything is just speculation, especially when world conditions have changed.

It may seem very close, from $29k to $30k to $32k. But it may take time and we can't predict how long it will take. It will only make us tired of waiting for times we will never understand, only to see prices of $32k and other high prices.

We can't guess when the price will reach $32k. But if it is not supported by much positive news about Bitcoin, the price still needs more time. And we won't know when the $32k or above higher price will be achieved.

Wit what is happening currently happening in the crypto market, bitcoin is seem to be already on the verge of unveiling it momentum towards bullrun considering that we are fast approaching the end of the year, we can also attest to this through the recent spike on the market price recently experienced, despite it was attributed under fake news but it is glaring that after that the market went down the same way it rises, but before then.

Bitcoin has being maintaining this dip for a while until this month it begin to show more possibilities for a bull market by implying the exit of the bear market, there's this indications from the current speculation that bitcoin is going to $32,000 before the end of October and before then, it will maintain strong resistance against bear market than it has been of recent.

2 months just in this range till the beginning of 2024?? I don't agree with you, we are already experiencing some bullish intent from our markets which has shown a 1000+ again in less than a week and with continued rumours of the Bitcoin spot ETF approval I expect this to keep going up and am certain something big will happen that we spike price up...thought the Ferrari due would get markets excited but unfortunately didn't have much of an impact.

Still enough to upgrade price for ranging in the 26k-27k to ranging between 28k-29k and could go higher.

Nobody can say maybe or not bitcoin price will move upward or downward but from the information read this morning for the sudden pump, it states that there was pressure last week on SEC not to take so many protocol and make ETF approval easy, and maybe by January it will be approved. If this is true, then it is likely that we will see the price of bitcoin going up, but who knows if the SEC will listen and approve it quickly. I know that from next year we will see a good pump and we will know this from the price of bitcoin by December this year.

https://www.coindesk.com/markets/2023/10/20/bitcoin-inches-closer-to-30k-as-etf-hope-drives-bulls/

I don't know, but I voted that we can reach that price at the end of 2023.

Usually in the last quarter, we might see some spike in the price, just like what we witnessed this month. We reach $30k->$28k->$29,500. So the sentiments looks very positive even though we have the war in the Middle East in the background.

And even with that tension, I think bitcoin will continue to become a hedge, just like what it shows during the pandemic.

Do not bet on this, retesting 17k looks more possible than surging from here on, XRP win their lawsuit that's a positive news not only for XRP but for the whole crypto space, believe this will pass and yes election is upcoming so I still believe Bitcoin isn't ready for the bull market just yet.

I am not always right so do not take this as a valid advice, all I am doing is getting ready for the dips, this still doesn't affect my DCA, whatever you doing do not run out of money for dips opportunities, we still have some months to go so have it in mind that there is enough time for Bitcoin to still retest it's base again.

For all those who aren't ready to hear the truth, here is one, this whole ETF approval drama won't be in favour for crypto in the longest run, we haven't seen real manipilation yet, this ETF thing will give power back to centralized organization, what is coming will change everything for crypto.

Just a knee jerk reaction to ETF news then it will settle down again. Nothing has changed.

The price is slowly rising and has already touched $30k again which shows the potential for the rise but unfortunately I think the world is currently too chaotic to be able to predict anything

For example we already have a huge tension in the oil rich region of the world which is West Asia. The Palestinians are going to fight the occupiers possibly for a total of 55 days so that would mean till December 1. This is why I voted for Jan next year.
During that time we can see a wild energy market with possibly big swings (oil is already on the rise) that will affect the inflation and in turn affects the bitcoin market positively, which means it would help price go up.
As it is right now.

This would also affect the gold market which could restart other markets as investors start to come back and invest in gold and by extension in bitcoin. Which is again positive.
In other words it eliminates investors "shyness" and "uncertainty"!

However, with inflation rising we could see another wave of idiotic interest rate rises that would not only worsen the recession but also it sweeps all the money from other markets like a vacuum. This is the only negative scenario I predict that can affect bitcoin price negatively.

BTW I consider other things like ETF to be smaller news that could only act as catalysts not to mention that I don't think it is going to be approved in US anytime soon...

From all indication, the bull run is upon us. History might just be getting set to repeat itself. Well, it is too early to conclude, but the market has shown great reluctance to go lower.

Indeed, coming weeks will really show the face of where we are going and I am optimistic we are on the right track. The moment the $32k resistance is shattered, the coast is clear for a decent sail towards the north. 

No one can answer that. If anyone gets it correctly, it is just a guess.

I am more of the bears as bitcoin increased to $30000 in this past, but it is confusing right now. But I think if bitcoin spot ETF is not approved, this may not change.

I am still expecting $25000 again but I do not know yet until I see what happens in the next 2 to 5 days.

This is more or less my outlook as well right now. It's likely we re-test resistance level now we're not far away, but also more than possible price re-tests $25K before the end of the year as well in order to remain range-bound. Eventually it'll break out of the range and I believe this will be to the upside, but breaking out of the range at present seems like it'd be news-orientated, such as rate policies as you suggested, or otherwise ETF related. I say this as I don't see the momentum in either direction at present with bears failing to break $25K and bulls unable to keep prices above $30K. That much remains clear.

With that said I get the impression that the range is also somewhat fragile if significant news could cause a break of it, because clearly at present buyers & sellers are unable to move price outside of it. This is why I think (as well as hope) it'll take a few more months, in order for their to be more fundamental reason to break-out like the upcoming halving, rather than a news-style break-out that could easily result in a fake-out and therefore return to the range, as well as break it in the opposite direction thereafter. I'm certainly not complaining about the stability at the moment, especially if it indeed turns out to be an accumulation zone.

Breaking to $30K today in a matter of hours seemed like a bluff that shocked those who didn't believe that Bitcoin was headed for a bull market.
It's still available for about 11 days left in October and I hope it can be the new support price until the end of the year even though it's just a hope. At least I want the graph to be able to move sideways if it can't go up rather than down to below $29K.

I'd it will break out soon but it's just a hunch. There are so many variables that can affect, such as the start of another war or rate policies that you never know. There is a saying in the stock market that I am going to reproduce from hearsay, something like, "I don't know if the next 100 points will be up or down but I know the next 1,000 points will be up."

Similarly I could say whether 4 months from now the price of Bitcoin will be higher or lower than it is now but I am sure 4 years from now it will be higher.

Bitcoin price has been in a range between $25K and $32K since March 2023, which is 7 months as posting. Hopefully that's something we can all agree on!

When do you think price will break-out of this range (see poll above)? What direction do you think price will break-out in (up or down)?



Personally I have my own opinions expressed elsewhere that we'll remain within the range until the end of the year, or at least another two months similar to the 9-month range of $15K to $25K.

Bears were confident that $25K would break as support twice over and were wrong. Bulls were confident that $32K would break as resistance and were wrong. Likely the bulls will be wrong again.

Also think it'll be to the upside after breaking the long-term structure of moving from support to resistance, such as holding support around $28K after a re-test of resistance, sometime in Q1 2024.

Also well aware we could break-out any day now and this topic & poll will be irrelevant, in which case will lock the topic & poll, but otherwise still think we have some time left within the range.