Bitcoin is ready for $40k - page 11.

Dunamisx

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Quote from: ImThour on June 06, 2023, 08:07:13 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.

If we considers the weekly candles and study the chart flow very well, the moment i see that the bitcoin market went down to $25,000 yesterday but couldn't go down below that range, I've sensed it that the resistance has been made on the limit and from that moment henceforth the market begins to surge higher till it reclaim the #27,000 resistance back within some couples of hours, now we believe base on this trend that there's a very good possibility for bitcoin to break forth this $30,000 resistance and once this had been attempted, getting close to $40,000 will become achievable in due time sooner and we also have to consider the more we are getting closer to halving the more we are likely to begin to experience bullish market trends henceforth.

Oshosondy

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Quote from: mich on June 07, 2023, 04:38:31 AM

Well let us see if we can make it to $30k before we are talking about $40k price for Bitcoin. I am 'bullish' right now even with the FUD that we are hearing about in the news recent.

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.

Even if bitcoin make it up to $30000, that does not mean that it would not be another resistant price, bitcoin has not been going beyond $30000. Its last highest price I remember is $31000. I was thinking bitcoin will make it up to $34000 - $37000 before any big drop again, but it started to drop at $31000 and not going beyond that price. It is very possible that $30000 may be the big resistant price until halving, no nobody yet knows.

bakasabo

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I am speculating that we dont see $40k any time soon. Bitcoin barely managed to keep $30k for a day almost two months ago, and now we only get negative news connected with Bitcoin so far. I would be happy if we manage to surpass $30k by the end of this summer and start a slow crawl towards gaining several more thousands by the end of the year. Since the beginning of this year, Bitcoin has already gained from $17k to $27k. That is already a huge achievement for Bitcoin this year.

mich

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Well let us see if we can make it to $30k before we are talking about $40k price for Bitcoin. I am 'bullish' right now even with the FUD that we are hearing about in the news recent.

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.

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Quote from: ImThour on June 06, 2023, 08:07:13 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.

This week, resistance and support are very visible in Bitcoin, but I still don't think that Bitcoin will immediately go to $40K, because I only have confidence in a price range that is over $30K and could be close to $35K if for a period of several months forward. I speculate like this because apart from seeing resistance and support levels, I also see a little difficulty in passing $30K even though it could be passed by Bitcoin this month if the increase in prices like yesterday continues.

adaseb

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Bitcoin broke into the support area during the binance news. And even after coinbase news it still managed to hold the low. So it basically stopped out all the leveraged longs and reversed.

The fact that it completely engulfed the previous breakdown candle is very bullish. I think we will break the yearly high soon and make our way to the $35ks.

Dave1

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Quote from: STT on June 06, 2023, 08:22:35 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.

STT

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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 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.

ImThour

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Bitcoin Bottom was at $15.4k

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.

Topic: Bitcoin is ready for $40k - page 11. (Read 1311 times)