Bitcoin found the bottom? - page 3. | Bitcointalksearch.org

Dave1

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Quote from: JeffBrad12 on September 06, 2024, 09:05:14 PM

Quote from: Mpamaegbu on September 06, 2024, 03:55:19 PM

Quote from: RaraAvis on September 05, 2024, 05:52:07 AM

Do you think Bitcoin found the bottom now at around 56500?

If we go by the "not too good yearly pattern of September for Bitcoin" for a couple of years, we're (I'm) more likely to speculate that price will drop further to $43,700 region as there's a Point Of Interest there that is also a demand zone. If I had free cash, I would be waiting around that zone to take a shot at it or try to DCA once it drops into the 40k region. That's not a financial advice, anyway.

yeah the only red flag that prevent me from investing right now despite BTC is really cheap around $53k is that it can go down further.
we're early september and it's already this bad, surely there will be relief pump after this recent dump but I'd expect the price to go down again, price swing is real for this bullrun cycle, anyone who taking advantage of the really deep dips are gonna be making fortune.

It's possible that it can go lower that $53k and if I'm not mistaken, this could be the bottom though? But let's see, it looks like the market is on the panic mode right now and investors are selling and could be putting their money on altcoins or any stable coin to top the bleeding.

Quote from: JeffBrad12 on September 06, 2024, 09:05:14 PM

if BTC really hits $43k, i'm ready to long with 100x leverage in my cross margin account. maybe there will be huge reversal that could make bitcoin bullish again.

Not sure if that is a good idea though, might be better just to buy a lot of Bitcoin if it reaches that price. But in any case, it's your decision mate, but hopefully you are right to go long with that huge leverage.

Mpamaegbu

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Quote from: _BlackStar on September 06, 2024, 05:33:34 PM

Quote from: Mpamaegbu on September 06, 2024, 03:55:19 PM

-snip-

Even if it does go down - $49K is the support I would expect to be strong enough to prevent a major panic, but hopefully it won't get there.

I just hope price doesn't get further down below the $49k you pointed out. Sadly, the Weekly chart from where I made my speculation, is exposing a further fall down to $43,700. I never saw that a few weeks ago. Perhaps it's because I wasn't checking price on the weekly until a few days ago that I did. I don't know what timeframe you've been checking from. Maybe you can check price on weekly too and see how the candles formed, among other things. I don't want price to get there as it will trigger more fear and then exacerbate the situation. But then, we can't tell market what to do. It pushes price wherever it deems fit and price goes there with obedience.

Quote from: JeffBrad12 on September 06, 2024, 09:05:14 PM

if BTC really hits $43k, i'm ready to long with 100x leverage in my cross margin account. maybe there will be huge reversal that could make bitcoin bullish again.

Trust me, you will more likely not going to long it once it gets there as you will think it could be catching a falling knife 😏

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Quote from: Mpamaegbu on September 06, 2024, 03:55:19 PM

Quote from: RaraAvis on September 05, 2024, 05:52:07 AM

Do you think Bitcoin found the bottom now at around 56500?

If we go by the "not too good yearly pattern of September for Bitcoin" for a couple of years, we're (I'm) more likely to speculate that price will drop further to $43,700 region as there's a Point Of Interest there that is also a demand zone. If I had free cash, I would be waiting around that zone to take a shot at it or try to DCA once it drops into the 40k region. That's not a financial advice, anyway.

yeah the only red flag that prevent me from investing right now despite BTC is really cheap around $53k is that it can go down further.
we're early september and it's already this bad, surely there will be relief pump after this recent dump but I'd expect the price to go down again, price swing is real for this bullrun cycle, anyone who taking advantage of the really deep dips are gonna be making fortune.

if BTC really hits $43k, i'm ready to long with 100x leverage in my cross margin account. maybe there will be huge reversal that could make bitcoin bullish again.

_BlackStar

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Quote from: Mpamaegbu on September 06, 2024, 03:55:19 PM

Quote from: RaraAvis on September 05, 2024, 05:52:07 AM

-snip-

If we go by the "not too good yearly pattern of September for Bitcoin" for a couple of years, we're (I'm) more likely to speculate that price will drop further to $43,700 region as there's a Point Of Interest there that is also a demand zone. If I had free cash, I would be waiting around that zone to take a shot at it or try to DCA once it drops into the 40k region. That's not a financial advice, anyway.

Seriously - I don't expect bitcoin to go down to the $40K area, that looks very bearish for bitcoin. Besides - there is a good chance of seeing the market recover if the FED adjusts rates - so the $50K range is where I expect it as support for the month. Even if it does go down - $49K is the support I would expect to be strong enough to prevent a major panic, but hopefully it won't get there.

I agree with DCA - you can do it whenever you have the budget. If you have extra income in the real world - some of it would be good to invest in bitcoin. Another option - save btc from the signature campaign now, it will definitely be more profitable later.

Mpamaegbu

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Quote from: RaraAvis on September 05, 2024, 05:52:07 AM

Do you think Bitcoin found the bottom now at around 56500?

If we go by the "not too good yearly pattern of September for Bitcoin" for a couple of years, we're (I'm) more likely to speculate that price will drop further to $43,700 region as there's a Point Of Interest there that is also a demand zone. If I had free cash, I would be waiting around that zone to take a shot at it or try to DCA once it drops into the 40k region. That's not a financial advice, anyway.

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Quote from: Oshosondy on September 05, 2024, 06:07:59 AM

Some analysts predicted that bitcoin may fall to or below $46000. It fall to $48900 instead. Now some analysts are predicting that bitcoin may fall between $45000 and $50000. I do not believe how true this would be but I think it is a good speculation. The way the market is right now, we can not know the bottom because bitcoin price is not really that volatile as it should be but ranging within certain price.

Even though I hate this analysis, the market condition is showing that it is a possibility. Bitcoin is a little above $53,000 which is just about $7,000 from the prediction of those analysts. I would love to see price recover from the point it is now if we will still see a new ATH in this market cycle because it is really showing that we might be stocked in a range for the rest of the year if this trend persist. The only solace I have in the market is the opportunity it afford me to still get in at decent prices which would have not been possible should price proceeded upward after the halving.

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Quote from: RaraAvis on September 05, 2024, 05:52:07 AM

Do you think Bitcoin found the bottom now at around 56500?

Right now, bitcoin price has dropped into $53k and most likely, it will continue to drop more in the next days. This proves that the bottom price for bitcoin is not certain yet, and when we get there, none of us can tell exactly that it's already the bottom for bitcoin.

I guess knowing what's the bottom price of bitcoin won't help at all. As long as you know when to buy and when to sell, and seize every buying opportunity that comes, for me that would be enough so that we will till be profitable when the real bull run comes.

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Quote from: darkangel11 on September 06, 2024, 02:58:25 PM

It's funny how you're all trying to predict the target at random and I bet none of you is acting on these predictions. You say it's going to be 55k, but you don't plan to buy at that level. You say it will go to 49k, but knowing that you're still in bitcoin, not fiat money, waiting to buy at your target. The truth is, unless you're in fiat with orders opened at these levels, it doesn't matter what price we touch. In 2020 bitcoin flash crashed to $4k and a year later it was at a new all time high.
There are some things that I'm sure of despite the price.
1. We are still in bull market
2. We haven't seen the top of the bull market yet.
3. Bull market will continue in 2025. It will not end in September 2024.

You are right, nobody talking here about the fantastic opportunity which is being
presented by the market. We are at $53,400 ATM - regardless of whether we are
going lower this is a perfect opportunity to buy! I put my weekly surplus FIAT into
Bitcoin at $56k and thought it was a great deal, will have some more to put in again
in a day or too so hopefully I can avail of the discounted prices.

I agree with those 3 points, I think they are correct! Still bull market and continuing
to next year.

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Quote from: BitMaxz on September 06, 2024, 02:29:11 PM

Well, that's too much and the price is already oversold and beyond the Bollinger bonds that's what I expected the price to be the dip price but I'm not sure there was news 30 minutes ago about Michael Saylor's post that might affect the price with a little decline 3% to 7% lower that's manipulation but look at my prediction at $53k+ as you can see it reacts on that level and if you check the liquidation data from Coinglass you will notice there are lots of traders take that position at $53k compared to a short position.

This is just my own prediction my guess is it won't drop more than $53k if it drops below that price then it's manipulation.
I'm not a professional trader but I'm not analyzing only what I see on the chart but I also analyze the volume and the liquidation chart and data that I gather from coinglass but some data like from ETFs shows negative net inflow its huge drop we might expect more drop later but my guts still expecting it would stay at $53k level.

I'm not sure who Michael Saylor is, nor have I seen his post. However, I believe that your speculation is more accurate than mine; its price seems to have stabilized at approximately $53,500, a little lower than my initial reply, but it looks like the major downfall has stopped. We can't actually predict if this is going to be the end of it, but from what you've mentioned, I'm inclined to believe that there's a decent chance it won't drop much further from $52,000 to $53,000.

On the other hand, if it does, it'd be an interesting opportunity to acquire some Bitcoin at a discounted rate.

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It's funny how you're all trying to predict the target at random and I bet none of you is acting on these predictions. You say it's going to be 55k, but you don't plan to buy at that level. You say it will go to 49k, but knowing that you're still in bitcoin, not fiat money, waiting to buy at your target. The truth is, unless you're in fiat with orders opened at these levels, it doesn't matter what price we touch. In 2020 bitcoin flash crashed to $4k and a year later it was at a new all time high.
There are some things that I'm sure of despite the price.
1. We are still in bull market
2. We haven't seen the top of the bull market yet.
3. Bull market will continue in 2025. It will not end in September 2024.

AprilioMP

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Quote from: RaraAvis on September 05, 2024, 05:52:07 AM

Do you think Bitcoin found the bottom now at around 56500?

$56,600 is not the current low. Oh yeah. Previously did you mean now for this month or something else.
If you mean now this week or today, then the lowest price is at $53,267.
I am on the side that is happy with the current price drop and to form a new support price.
A price drop like now is a good opportunity to buy and according to my observations on one of the big and well-known trading platforms, especially spot trading, the behavior of the sellers is very bad.

ajiz138

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The August low was $49.5K and the current price is still dropping, we know this month looks to be more of a drop some speculation says it could be as low as $45K it's like there is a panic after seeing the price there is no reversal at the moment.

What we predicted about the bottom then $45K is what we saw, could be wrong but it's still early in the month while the next few weeks bitcoin could be worse and that's not what we want, we know history is recorded in Coinglass - September will be dark.

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Quote from: Ultegra134 on September 06, 2024, 12:41:18 PM

Well, as you've probably noticed yourself, we're past that stage. Bitcoin is down to $53,800, and it's still crashing as we speak. As other users already suggested, Bitcoin went below $50,000 during the last month; thus, it wouldn't surprise me if it happens again. I'm speculating a bottom between $50,000 and $51,000. To be honest, the lower, the better, as it's still unsure how many discounted opportunities we'll have from now on. Now is the opportunity to acquire more Bitcoin at a lesser price.

Well, that's too much and the price is already oversold and beyond the Bollinger bonds that's what I expected the price to be the dip price but I'm not sure there was news 30 minutes ago about Michael Saylor's post that might affect the price with a little decline 3% to 7% lower that's manipulation but look at my prediction at $53k+ as you can see it reacts on that level and if you check the liquidation data from Coinglass you will notice there are lots of traders take that position at $53k compared to a short position.

This is just my own prediction my guess is it won't drop more than $53k if it drops below that price then it's manipulation.
I'm not a professional trader but I'm not analyzing only what I see on the chart but I also analyze the volume and the liquidation chart and data that I gather from coinglass but some data like from ETFs shows negative net inflow its huge drop we might expect more drop later but my guts still expecting it would stay at $53k level.

Ultegra134

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Quote from: BitMaxz on September 05, 2024, 05:23:50 PM

If you feel that is a bottom why not start your first position and do a DCA later because honestly no one knows what will be the price of BTC later just don't lose the opportunity to buy at a lower price than waiting for something that you don't know if the price will touch lower than the expected price every price drop should be a good opportunity to buy at low price.
That is why we have a DCA strategy to make sure we buy at a dip price.

For technical analysis on the chart currently, it is not touching yet the support area so it's not the bottom yet maybe around $53k or lower would be the bottom price for this month.

Well, as you've probably noticed yourself, we're past that stage. Bitcoin is down to $53,800, and it's still crashing as we speak. As other users already suggested, Bitcoin went below $50,000 during the last month; thus, it wouldn't surprise me if it happens again. I'm speculating a bottom between $50,000 and $51,000. To be honest, the lower, the better, as it's still unsure how many discounted opportunities we'll have from now on. Now is the opportunity to acquire more Bitcoin at a lesser price.

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Quote from: tabas on September 05, 2024, 05:33:02 PM

Quote from: RaraAvis on September 05, 2024, 05:52:07 AM

Do you think Bitcoin found the bottom now at around 56500?

The bottom was likely at $49k. If this time, it's gonna be around $55k. And as I've checked the run for this week and month, it seems that $55k was the lowest that we're getting. It's okay, wait until the FED announcement again, and for sure we'd see some pump after that. This time, it's all about shaking the weaklings but is the price cheaper? I don't think so, I'm still zooming out and if we're going to conclude it, the holders are still winning with this price unless someone has bought at the peak then, you only have to hold longer.

At this point we are far from that bottom line for bitcoin because it liquidity will cover way above that price, $49k is the least we can expect, but staying above 55 a d possibly above is sure get for this period, those that bought the dip at around 45k are already in massive gains and at the same time not willing to let go of their bitcoin holding.

In this time we may see the bottom around 50k if that becomes any possibility to see such but we have such a hope that going below the speculated bitcoin price is nothing near now.

STT

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Bitcoin found it has not found the bottom, its found a path beneath that support so about the opposite. Price could always correct this movement and close above 60k, its possible & by end of the week would be bullish if we could do this.
Its best to always keep an open mind on progress but its negative for now is a fair view.

My target downside now is 50k till we can prove otherwise, momentum is downwards and 50k is about the next regular amount of support in sight. Market overall has some pullback, it is now the autumn and turbulence is normal as an event.

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Quote from: RaraAvis on September 05, 2024, 05:52:07 AM

Do you think Bitcoin found the bottom now at around 56500?

How do you mean? Because the price mentioned here had not been the base or lowest price Bitcoin has encountered.

Let us just assume from when Bitcoin surged to the current ATH on March 14 2024 at the rate of $73,750.07 being the highest price currently

As the imagine describes the market chart prices, I tend to drag your attention to the arrow notation showing the highest and lowest price in the historical chart.

Here on August 5th 2024 has the market price at the lowest rate of $49,121.24 as a bottom price.

You can also also follow https://finance.yahoo.com/quote/BTC-USD/history/ to see the market prices in a full chart of historical orders then, you will find out that there are more lower than your claimed $56500 as a bottom of the market price.

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I remember a few months ago when bitcoin price was above $70k and everyone here was optimistic that bitcoin wouldn't drop to $60k or that the bitcoin bull run wasn't over yet. But the unexpected happened after the halving, Bitcoin kept correcting and when the price dropped below $60k, people started to become pessimistic, more and more predictions about Bitcoin falling below $50k or $40k.

It's clear that no one knows what's going on and market sentiment changes very quickly. These days, bitcoin price cannot go above $60k and everyone is afraid that the price will fall further. But I believe that if bitcoin hits $60,000 then all the worries will go away and the predictions 70k$ or $80k will come back.

OP, you need to analyze and make your own judgment instead of asking us, because neither we nor you know what will happen in the future.

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It seems like it will go down more in the charts before going higher. There’s only a little time left before it goes up again. After that, I think it will be the floor. We will see what happens when it does. I do hope that many people and investors will see the potential of BTC and invest in it.

Maybe this will change in November. That’s what I am seeing.

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Looking like it hasn't I mean I was hoping the usual cycle goes of going to 55k then above 60k again, but we dropped off again to 56k after 58k so we might actually go lower this time. I wouldn't panic though unless we go like below 50k. We might see some panic sells then so who knows how low it'd go by then. But until it happens, the market should still be pretty ok even if we're on the lower end of 50k for the entire month of September.

Still, this range is a good time to buy looking at things in general.

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