Bitcoin is ready for $40k - page 10.

taufik123

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Quote from: Baofeng on June 07, 2023, 06:32:43 PM

I don't know, with the Binance news recently, we are now in a challenging position, so for me it will remain in the sideway patterns as the TA might be invalidated because of the said news. So I wouldn't be surprised if we are going to retest $25k this month and then see if we are going to hold or not.

But it's a good thing though, when the market is on a sideway patterns, it means there are balance around, buyers<->sellers. So we will see if there will be a breakout run, it might not be this month of June. But perhaps marching towards the end of the year, we might see the price hitting $40k-$50k.

currently TA is becoming more chaotic because of the bad news aimed at Binance.
This is Fundamental Analysis and of course it will also synchronize with Technical Analysis.
Currently the Bitcoin price is still stuck in the $26,300 price area and if it resets at 0.33 Fib again at $25k it is quite dangerous if the support is broken.

Breaking the $25k price will enter the Flip Trend area and it will go to Bearish support in the $15k price area.
But hopefully the shock this time Bitcoin can still withstand it and there will be a bounce in the $26-$25k price area towards $40k.

yes hopefully the price can reach $40k-$50k towards the end of the year.
May and June will be bearish months as in previous years.

STT

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Bitcoin heading to the $40k range is not happening anytime soon.

It can happen, never say never because we all know BTC can move like a locomotive with good momentum. However right now we have to say BTC and crypto in general is lacking that kind of inertia to break down any barriers to higher prices. Theres no threat higher and imo I dont really expect much lower either, the support from prior highs is likely enough to keep us in this area for a while.
Overall the market may be more stagnant over the months till we reach the end year quarter where traditionally markets can be more active. There are expectation that various central banks will transition policy to develop into better trading opportunities till then its all speculation which means sideways in sum total is the most likely path for now.

Baofeng

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Quote from: ImThour on June 06, 2023, 07:07:13 PM

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

Let me know what you think about it.

I don't know, with the Binance news recently, we are now in a challenging position, so for me it will remain in the sideway patterns as the TA might be invalidated because of the said news. So I wouldn't be surprised if we are going to retest $25k this month and then see if we are going to hold or not.

But it's a good thing though, when the market is on a sideway patterns, it means there are balance around, buyers<->sellers. So we will see if there will be a breakout run, it might not be this month of June. But perhaps marching towards the end of the year, we might see the price hitting $40k-$50k.

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Quote from: ImThour on June 06, 2023, 07:07:13 PM

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.
Let me know what you think about it.

That is a good number to suggest if he is getting ready to take the $40k spot in the near future, but will this happen, right now Bitcoin price is still under $30k more or less, and it is still in the low price zone, may require a significant increase if it is to go up to $40k in the near term. but it looks like this will be difficult to break if in the near future.

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Quote from: Wiwo on June 07, 2023, 04:05:35 PM

Judging with currently available data at hand and bitcoin market chart analysis, we are still very far away from 40k this is so because bitcoin has not built the needed resistance liquidity that will help if the price to move to that speculated amount and what is most expected right now is how bitcoin could build a resistance value that can provide the market flow needed.

The current situation is a lot of fud circulating on social media and maybe the first is sec accusations against binance and coinbase which made the market situation in the past two days continued to turn red which resulted in a decrease in btc prices. To reach $40k in the near future I think it will be achieved if in this case binance is able to ward off all accusations from SEC in court later because this will increase the confidence of investors to invest in bitcoin.

Apart from that I think the chart provided by the Op is quite impressive where we just need strong market support to form a resistance point which must be broken before we see btc at $40k.

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Bitcoin heading to the $40k range is not happening anytime soon. It has been close to 2 months now since we last seen Bitcoin cross the resistance level of $30k even when we thought that it will do that a few days back.

The way I am seeing the whole scenario of the bitcoin price heading at $40k will be around August. For this month and next month, bitcoin won't go above $35k. Anything that would make it go above the speculated price will be good news

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Judging with currently available data at hand and bitcoin market chart analysis, we are still very far away from 40k this is so because bitcoin has not built the needed resistance liquidity that will help if the price to move to that speculated amount and what is most expected right now is how bitcoin could build a resistance value that can provide the market flow needed.

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Quote from: Dr.Bitcoin_Strange on June 07, 2023, 02:53:12 PM

I know that the market is usually not very accurate, judging by predictions and some analysis by market experts. I also know that the market can be very dynamic and can get influenced by some economic news that can just trigger the price to see a big uptrend 📈. At the moment, I don't think Bitcoin would still get to $40k this month or next; although it's just my speculation, anything could be possible. If truly it's heading for $40k, that's a Big chance for short term investors to see some profit in their portfolio.

I do not see bitcoin going towards 40k so soon, if anything I think a drop makes the most sense when I take everything I am seeing into account, still the price of bitcoin is so unpredictable that I have been wrong so many times before that it would not surprise me that I was wrong on this instance as well, it is just that such a massive movement when we are so far away from the halving does not make much sense to me no matter how much I look at the charts.

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I know that the market is usually not very accurate, judging by predictions and some analysis by market experts. I also know that the market can be very dynamic and can get influenced by some economic news that can just trigger the price to see a big uptrend 📈. At the moment, I don't think Bitcoin would still get to $40k this month or next; although it's just my speculation, anything could be possible. If truly it's heading for $40k, that's a Big chance for short term investors to see some profit in their portfolio.

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In order to go to 40 thousand dollars, we need to exceed 30 thousand dollars. It makes more sense to go to the goals step by step. This is how I chart my path. Of course we will go up to $40,000 but right now it may take some time. I think the market will calm down a bit, especially after the news. This means that it will continue horizontally for a while.

I don't understand why investors who are nervous about the news are selling Bitcoin. Bitcoin is independent of exchanges. Binance was sued today and another exchange could be sued tomorrow. This shouldn't affect Bitcoin.

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Bitcoin is not so up and previously it touched the marked of 30k$ but as we see recently the price is not so high like it is 26k$ so may be this down is a sign of Bull run because whenever market goes down then after few weeks or months it pumps and goes to the higher cost. As usual we cannot predict exactly the ups and downs before the time comes. Year is now remaining so everything can be possible which is hidden from us but we assume that time will be needed for such a great value to be possible, its not hard to attain so our hope should be better therefore we will get better.

Ultegra134

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Quote from: Dave1 on June 06, 2023, 08:39:41 PM

Quote from: STT on June 06, 2023, 07:22:35 PM

When I plot this I take the first low seen in June last year rather then the eventual low that developed. This is the nicer view because we are more positive in passing this first bar as a Fib level already and remaining above it at this time. I think we can move down to 24k area before recovering properly to your target area over some months. If we're in running in circles for the moment with no great trend in reach at present then a lesson I remember from past savage markets Tongue

is patience and watch for higher lows rather then the peaks especially, peaks are the more erratic and noisy action.

But we did move down to $25k earlier and probably this what triggers the OP's prediction to be hitting at least $40k.

The good thing is that even if we have a FUD around or the Binance case, the market never stop to grows based on the charts. So who knows, maybe short term at least $40k is viable or at least in the end of this year. And then we might be ready for the next bitcoin halving as this could be the catalyst. So despite everything that is happening in the last 48 hours, the charts is pointing differently.

I don't believe it's the right timing for Bitcoin to surpass $40,000. Binance is going through a serious accusation that has massively affected the market. Bitcoin even went as low as $25,000, which is a huge difference from what the OP is speculating. Thus, I don't think that it'll happen anytime soon, maybe towards the end of the year or at least the summer, if things with Binance don't take a sudden turn for the worse, which will have detrimental effects on the market. It's already quite bad, if you ask me.

Hopefully, on the other hand, it's a great opportunity to take advantage of the significantly lower prices.

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There seems to be lots of FUD floating around at the moment. I’m sure you’ve all seen it regarding Binance & Coinbase. The price hasn’t dumped too much as a reaction, when that happens it usually means a mid to long term bottom is in. Hopefully that’s the case here.

Regarding $40,000, it’s possible by the end of 2023. I really hope sooner rather than later but end of this year is definitely a good target. Let’s see how it plays out.

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Quote from: ImThour on June 06, 2023, 07:07:13 PM

I am speculating that we are about to head to the $40k Range.

Before moving to $40k Bitcoin, it's best to recover to $30k first and play on it, and with this we think the achievement will be easier to predict, at least in this June Bitcoin will have a price change that goes up first, even though it's actually we believe that Bitcoin will still reach this number in the still uncertain time.

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I think it's a bit difficult if the bitcoin price will immediately reach $40k within this month. Recently the price of bitcoin has been on the decline and the resistance and support levels are not doing much better. Therefore, I am speculating that the bitcoin price will most likely only go above $30k and close to $35k in the next few months.

YOSHIE

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Quote from: ImThour on June 06, 2023, 07:07:13 PM

Let me know what you think about it.

Of course, I also speculate that the price of Bitcoin will reach $ 40k, but I'm not sure the route taken to reach $ 40k will not be in 2023, maybe next year, that's according to speculation that I've seen from several experts predicting market developments crypto.

From my observations and speculations that I've seen, Bitcoin will fall until next August, slowly rising so that it is at a cold point, most likely entering 2024, Bitcoin travel routes can reach $ 40k and so on, that's based on speculation that I've seen, the provisions say so, but what I say can't be held 100%, anything can happen unexpectedly in the crypto market.

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Quote from: ImThour on June 06, 2023, 07:07:13 PM

Chart Timeframe: Weekly

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

Let me know what you think about it.

it's a shame Bitcoin broke through the resistance at $ 30k which is fake, and until now the price is still below $ 30k and there was even a dump to $ 25k,
yes it's difficult for us to analyze again if it hasn't reached above $ 30k, because the bullish level is there so below $ 30k is bearish.
don't get your hopes up if the market is still bearish, bad news will always come and make a market dump.

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Quote from: mich on June 07, 2023, 03:38:31 AM

The 2 biggest crypto exchanges in the world are being sued by the sec. But price of Bitcoin is still close to $27k. So this means investors are still buying. I think we will see $30k sooner then most people think and hope $40k by end of the year.

Investors are buying now because they still trust bitcoin and it's not yet the end of the world for these 2 exchanges, the process for this kind of thing is going to be long so no definite decisions/verdict yet. Or this is just a power play by the SEC to tell these 2 exchanges who's the boss. For me though, I would probably wait a little bit more to buy bitcoin because if this legal battle might take long and negativity will affect the market for awhile.

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If no negative news emerges, there is still a possibility that the Bitcoin price will head towards the $28K - $29K range first. In its development, Bitcoin can gradually move towards the range of $40k. However, it should be noted that crypto price movements are highly dynamic and can be influenced by many factors, therefore, these projections may change over time. It is important to stay abreast of market developments and the latest news.

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Quote from: ImThour on June 06, 2023, 07:07:13 PM

Chart Timeframe: Weekly

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

Let me know what you think about it.

Nice TA on catching those patterns. Still we are already on middle of the current weekly candle which means that there’s still a possibility to close low since the price is being dumping on smaller time frame. This weekly candle is very bullish if the current weekly candle will close on this current price since it will confirm that price support at 25K is strong.

We might really see 40K on coming months as preparation to the upcoming Bitcoin halving. I believe SEC FUD is not enough to turn the bullish trend into bearish in long time frame.

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