Bitcoin is recovering - page 7. | Bitcointalksearch.org

Mr.Scott

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Quote from: Rasa nanas on November 27, 2021, 10:30:30 PM

not long after this thread made the price of bitcoin experienced a very significant drop to the point of $54k. you could say this is really a trap, if you buy around the price of $ 60k because you think the price will continue to rise means you have entered the bull trap. if you are caught in a bull trap all you can do is just keep holding on until the price goes up again, but don't worry because after a significant decline usually not long after the price will move back up.

I see alot of posts about Bitcoin touching 100K before the finish of year. I've been motivated by those posts and obviously others also fall into same circumstance then purchase. Now, we have first concern is how low can Bitcoin go?
will there another layer or is 54k the line we turn back? Let's figure it out and wish this time avoid a significant decline, i mean under 50K

Oasisman

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Quote from: Rasa nanas on November 27, 2021, 10:30:30 PM

not long after this thread made the price of bitcoin experienced a very significant drop to the point of $54k. you could say this is really a trap, if you buy around the price of $ 60k because you think the price will continue to rise means you have entered the bull trap. if you are caught in a bull trap all you can do is just keep holding on until the price goes up again, but don't worry because after a significant decline usually not long after the price will move back up.

I believe there was no bull trap that happened. That recovery we've seen didn't even break the resistance level. That was just a small recovery and now, Bitcoin is once again being corrected. The price has been hovering around $54,000 for the last 48 hrs. this may or may not continue to fall, we still have a lot of positive and bullish news around the crypto space. So, there's nothing to worry.
If you buy at $60,000, then it gives you more reason to buy at $54,000.

Rasa nanas

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not long after this thread made the price of bitcoin experienced a very significant drop to the point of $54k. you could say this is really a trap, if you buy around the price of $ 60k because you think the price will continue to rise means you have entered the bull trap. if you are caught in a bull trap all you can do is just keep holding on until the price goes up again, but don't worry because after a significant decline usually not long after the price will move back up.

Kemarit

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Quote from: Baofeng on November 27, 2021, 11:03:00 AM

Quote from: eaLiTy on November 27, 2021, 10:12:30 AM

Quote from: bots1 on November 27, 2021, 07:38:50 AM

In my opinion, it looks like Bitcoin is still in a sharp correction phase where the downward trend in price continues. Moreover, if seen at a glance from the movement of the price chart in the last few days the price of bitcoin has not shown a significant increase or breakout point to get to the new ATH.

How did you identify that it is still in a sharp correction phase, the market today looks like it is stabilizing and there is not much selling pressure as far as i see in the market, but anything is possible as i am not capable of prediction what might happen in the next few days and so does anyone, but the current market does not looks there is not much selling pressure for the market to go down further as the buy walls are filling up quickly for now.

We are probably going to trade sideways for now because of the covid-19 new strain news (although I firmly believed it doesn't have that significant effect to crypto sphere as compare to lets says Nasdaq or S&P).

So I'm expecting a little movement on the price till this weekends but hopefully when Monday comes we might see some semblance of a rally again to $60k. I think the selling pressure is done was well as the price is closing to it's old support of $55k.

For now bitcoin is undergoing a correction, it is estimated that this will last until the end of the month, this condition actually needs to be used to make purchases and is suitable for short-term investment patterns, if the price does not move up until the end of this month, then the opportunity in December is quite open to return to the bull run, let's see how far the correction to bitcoin will return to normal, or even bitcoin will experience a long correction.

I don't think this is still a correction, this is a full reversal already as we have break down the support level of $55,000 if you haven't noticed. End of the month? it's just a couple of days from month, and with the latest news on Covid-19 strain, this might continue up to early December and will only stop when there is a break out run.

I haven't check any TA yet, but yeah, seems to be bearish to me. Nevertheless, as I have said, we might see an imminent break out this December if everything has settled down.

Yamifoud

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Quote from: STT on November 27, 2021, 05:45:09 PM

I'm seeing higher lows here so there is the beginnings of a recovery there but I remain a constant skeptic of weekend action until it passes the Monday open and full volume. After the holiday closes the Monday action could be like opening the door to find an arctic blast, a very different environment then currently registering on graphs. Or I could be wrong and markets are not that paniced or disturbed especially by recent world events. I think we must revise prices I've said it plenty and roughly my target has been 50k which we have mostly achieved. I need volume in the recovery I think, its not there yet.

well, I think we've got in peak by Monday and onwards. It was likely we are settling down by the weekend seeing the price tried to calm down and move back high again. I also wait for what will happen a few days from now but I expect a surge (not in hype). I could say that the market is calmly moving up and down without any huge factors affecting the trend.
Well, that recovery seems to be going to happen always and that is why I keep myself aware of and not going to miss any chance to buy the dip before the surge begins.

STT

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I'm seeing higher lows here so there is the beginnings of a recovery there but I remain a constant skeptic of weekend action until it passes the Monday open and full volume. After the holiday closes the Monday action could be like opening the door to find an arctic blast, a very different environment then currently registering on graphs. Or I could be wrong and markets are not that paniced or disturbed especially by recent world events. I think we must revise prices I've said it plenty and roughly my target has been 50k which we have mostly achieved. I need volume in the recovery I think, its not there yet.

livingfree

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Quote from: Finestream on November 26, 2021, 04:39:22 PM

Quote from: livingfree on November 26, 2021, 04:27:14 PM

Quote from: Jating on November 26, 2021, 04:38:03 AM

Maybe you spoke too soon as the price goes down again to it's support of $54k-$55k, so this might be a falls breakout that we are seeing, so probably a bull trap.

It's okay if he spoke to soon about recovering.

That's where we're heading also so that's totally okay even if there's a massive drop that we're seeing lately. After this, maybe next week, we're going to see it recover once again.

It's just a repetitive cycle most of the time.

This is really not new to us as the crypto market is very volatile just like how volatile bitcoin is. One day it is dumping, and the next day you'll see bitcoin is already reaching its new ATH. So we should get used to it as bitcoin will still recover in the long run. And the current price correction will even cause a strong support level so we can achieve higher ATH after this. We just have to stick what we believed in. And with bitcoin, it will never settle in a low price but always go for a higher price.

Yes.

A roller coast could be seen today and tomorrow it won't be anymore. Just like the other day, it has been dumped, and now it's recovering.

Hopefully, the latter that you have said about bitcoin is going to be like that. That it would always be ending up with a higher price.

rhomelmabini

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Quote from: bots1 on November 27, 2021, 07:38:50 AM

In my opinion, it looks like Bitcoin is still in a sharp correction phase where the downward trend in price continues. Moreover, if seen at a glance from the movement of the price chart in the last few days the price of bitcoin has not shown a significant increase or breakout point to get to the new ATH.

I'm still confident that we will gonna hold either the 50k or possible the 40k but I highly doubt we will get there yet. It may take weeks in my opinion if we ever cross that 60k+ again and may stagnant in this 50k range. I'm not expecting it will get new ATH that fast but likely I'm still rooting that overall sentiment that ATH isn't just at 69k, we should get higher than that.

Baofeng

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Quote from: eaLiTy on November 27, 2021, 10:12:30 AM

Quote from: bots1 on November 27, 2021, 07:38:50 AM

In my opinion, it looks like Bitcoin is still in a sharp correction phase where the downward trend in price continues. Moreover, if seen at a glance from the movement of the price chart in the last few days the price of bitcoin has not shown a significant increase or breakout point to get to the new ATH.

How did you identify that it is still in a sharp correction phase, the market today looks like it is stabilizing and there is not much selling pressure as far as i see in the market, but anything is possible as i am not capable of prediction what might happen in the next few days and so does anyone, but the current market does not looks there is not much selling pressure for the market to go down further as the buy walls are filling up quickly for now.

We are probably going to trade sideways for now because of the covid-19 new strain news (although I firmly believed it doesn't have that significant effect to crypto sphere as compare to lets says Nasdaq or S&P).

So I'm expecting a little movement on the price till this weekends but hopefully when Monday comes we might see some semblance of a rally again to $60k. I think the selling pressure is done was well as the price is closing to it's old support of $55k.

eaLiTy

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Quote from: bots1 on November 27, 2021, 07:38:50 AM

In my opinion, it looks like Bitcoin is still in a sharp correction phase where the downward trend in price continues. Moreover, if seen at a glance from the movement of the price chart in the last few days the price of bitcoin has not shown a significant increase or breakout point to get to the new ATH.

How did you identify that it is still in a sharp correction phase, the market today looks like it is stabilizing and there is not much selling pressure as far as i see in the market, but anything is possible as i am not capable of prediction what might happen in the next few days and so does anyone, but the current market does not looks there is not much selling pressure for the market to go down further as the buy walls are filling up quickly for now.

Taskford

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Quote from: bots1 on November 27, 2021, 07:38:50 AM

In my opinion, it looks like Bitcoin is still in a sharp correction phase where the downward trend in price continues. Moreover, if seen at a glance from the movement of the price chart in the last few days the price of bitcoin has not shown a significant increase or breakout point to get to the new ATH.

That looks like the real scenario here but its also good to see a little recovery so maybe we can see this still fighting. But maybe we can see the real scenario at the end of this month of the December month in since if we see the price dumping then maybe we can see an unhealthy early quarter next year. Hopefully we can see the bull starting to build up this December so that we can get a high chance to break at the new ATH for next year.

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In my opinion, it looks like Bitcoin is still in a sharp correction phase where the downward trend in price continues. Moreover, if seen at a glance from the movement of the price chart in the last few days the price of bitcoin has not shown a significant increase or breakout point to get to the new ATH.

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Quote from: Dave1 on November 27, 2021, 02:01:57 AM

But we have been living in the COVID influence already. So how come it will still be an effect on the price? Even if the news come out about the Delta variant, the price did reacted that much.

Some scientists have caused panic with their reports that this is possibly the most dangerous mutation that has occurred so far, although the media has further spiced up the whole thing and created panic in all markets, and Bitcoin is only part of the global market. Given everything that has been happening in recent months, we should be happy that the price manages to stay above $50 000, despite constant attempts to declare a bear market.

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Quote from: kentrolla on November 25, 2021, 02:59:13 PM

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

Actually bitcoin has been making good development since it's time irrespective the fluctuating price circulation revolving in it's market sphere, in every month and year they will be always change in cryptocurrencies market revolution and it can't be used to compare to alternative coin's as well, the only thing i found difficult in bitcoin and know that it's the nature of bitcoin, is that it doesn't be constant in price and that makes it decentralized currency.

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Quote from: romero121 on November 26, 2021, 11:01:15 PM

Quote from: adaseb on November 26, 2021, 10:52:31 PM

Well that was quick. Looking at the $53K area if you look at the daily, this is an important support area. I honestly didn’t think it would come close to getting tested but I guess due to the close correlation with stock indices it caused tons of panic and we are pretty close to testing that area.

I don’t like the funding at the moment, seems very long leverage. Usually when this happens it doesn’t end Well. So hopefully $53K doesn’t break, if it does, remember to use stops.

From the $53k region the price have once again moved forward. The market correction isn't over, and it could test the $50k mark by the upcoming fall. Right now the market correction is associated with the black friday as well as the new mutant of virus found on South Africa. Maybe if things didn't happen positive the market could move sideways.

$53K was tested twice with reference to 1hour time,the zone was equally a support in October 10 based on daily timeframe there is a possibility the price could retouch it again or rather continue with it recovery after yesterday dump as a result of two major fundamentals impact on the price of bitcoin, I believed the support at $53K had already held the price previously, while today daily candlestick might close a bullish harami, a bullish trend signal, thus price correction down to $50K might not be feasible now.

Dave1

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Quote from: magneto on November 26, 2021, 04:36:51 PM

Quote from: kentrolla on November 25, 2021, 02:59:13 PM

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

I think that it was clear now that it was a bull trap.

Yeah, it could be a bull trap but still there could have been some reasoning behind it, like almost touching $60k and then going down again.

Quote from: magneto on November 26, 2021, 04:36:51 PM

The $60k resistance was definitely quite strong and by the looks of it, we won't be breaching that level in the near term future.

Not sure about that, we all know how the market moves, in just a blink of an eye, the market can suddenly rise in price and may attempt $60k again.

Quote from: magneto on November 26, 2021, 04:36:51 PM

Right now we have to look to the SA COVID situation - the risk-asset sell off is occurring everywhere.

But we have been living in the COVID influence already. So how come it will still be an effect on the price? Even if the news come out about the Delta variant, the price did reacted that much.

Kemarit

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Quote from: romero121 on November 26, 2021, 11:01:15 PM

Quote from: adaseb on November 26, 2021, 10:52:31 PM

Well that was quick. Looking at the $53K area if you look at the daily, this is an important support area. I honestly didn’t think it would come close to getting tested but I guess due to the close correlation with stock indices it caused tons of panic and we are pretty close to testing that area.

I don’t like the funding at the moment, seems very long leverage. Usually when this happens it doesn’t end Well. So hopefully $53K doesn’t break, if it does, remember to use stops.

From the $53k region the price have once again moved forward. The market correction isn't over, and it could test the $50k mark by the upcoming fall. Right now the market correction is associated with the black friday as well as the new mutant of virus found on South Africa. Maybe if things didn't happen positive the market could move sideways.

I think $50k will be a good test for us, I mean that price is really low that investors might think to pour their money again and somewhat the price could bounce back.

Yeah, I'm reading about the new variant of the virus, but hopefully the news will not trigger another sell-off. We've seen the effects of Covid-19 already and it seems that we are able to cope with it for a long time. So if ever there will be an effect, it could be on the short term only.

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Quote from: kentrolla on November 25, 2021, 02:59:13 PM

Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?

I also think that bitcoin is very strong at the moment, and I'm also still hoping for a new ATH by the end of this year. however, at the end of this month, the bitcoin price pushed towards the $54k price. it is very difficult to predict. if dumps continue at the end of this year, there is a possibility that the price of bitcoin in december will be in the range of $40k again. however, I believe those big investors are preparing something surprising for bitcoin at the end of the year. well, I'm still positive that the price will reach a new ATH later this year.

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Quote from: adaseb on November 26, 2021, 10:52:31 PM

Well that was quick. Looking at the $53K area if you look at the daily, this is an important support area. I honestly didn’t think it would come close to getting tested but I guess due to the close correlation with stock indices it caused tons of panic and we are pretty close to testing that area.

I don’t like the funding at the moment, seems very long leverage. Usually when this happens it doesn’t end Well. So hopefully $53K doesn’t break, if it does, remember to use stops.

From the $53k region the price have once again moved forward. The market correction isn't over, and it could test the $50k mark by the upcoming fall. Right now the market correction is associated with the black friday as well as the new mutant of virus found on South Africa. Maybe if things didn't happen positive the market could move sideways.

adaseb

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Well that was quick. Looking at the $53K area if you look at the daily, this is an important support area. I honestly didn’t think it would come close to getting tested but I guess due to the close correlation with stock indices it caused tons of panic and we are pretty close to testing that area.

I don’t like the funding at the moment, seems very long leverage. Usually when this happens it doesn’t end Well. So hopefully $53K doesn’t break, if it does, remember to use stops.

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