Bitcoin may not fall below $55000 and 58000 - page 2.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

The confidence OP displays is definitely given away by saying "MAY" instead of "WILL" Wink

Hey we all like the idea of BTC never going down to 55k and below again but the fact is it is not able to break even current ATH without intervention of stockmarket of USD dollar problems, or without all the inflows of ETF, etc.

Until we get out of all that we won't see a true low, TA is TA but now to reach 50k is only 25%. We know BTC is more than capable of this.

hugeblack

legendary

Activity: 2688

Merit: 3983

Since the price is around $61,000, what does it mean for us to return to the $58,000 levels, especially since they are within the current support and resistance levels? Since there has been no real breach of these levels, the opportunity of $67,000 still exists and the possibility of achieving a new ATH is possible during October.

shinratensei_

legendary

Activity: 3276

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

hopefully that's the case, but even if it somehow go below $58k doesn't mean bullrun is over, from recent wick, we could see that BTC recovers fast to $60k again and the sentiment become bullish again.

those bearish people are everywhere so their opinion is pretty much just noise, the fear also correlate with greed and index fear which currently is at low around 36, so no wonder some people are calling out that bullish is over even though really it isn't.

if somehow BTC goes below $58k, we can just accumulate, we haven't strayed away from the past data of bitcoin's bullish chart routine. but certainly a bullrun above $76k gonna need massive accumulation before it happens.

but tbh, i also kinda concerned whether bitcoin could breakthrough current falling wedge, it was supposed to breakthrough yesterday then some news about war comes in.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

Quote from: Btcalysis on October 02, 2024, 05:19:20 AM

Do not listen to those that thought the bull run is over.

I'm saying it always that the bull run is not yet over and it will take up to next year or much longer than anticipated. Many of these people are looking at the short-term chart and that's how they predict the market. The comparison of fundamentals and technicals sometimes doesn't align but sometimes they do. But experience-wise, this is going to take a while and all we have to do is to be patient and accumulate more. While those that monitor the market daily, make sure that you can take the market's volatility. Just like recently, from $66k down to $60k and there has been $500M in total that has been liquidated today.

SquirrelJulietGarden

hero member

Activity: 1442

Merit: 775

Quote from: Btcalysis on October 02, 2024, 05:19:20 AM

You can go to any crypto exchange and see what that I am talking about if you use the 1 day chart. Do not let MACD and SAR deceive you. Go for BB and RSI for the analysis.

Do not listen to those that thought the bull run is over.

You can lose your money in a bull run, and whether you get profit or loss, it depends on what you do like trading or investment and if trading, is it Spot, Margin or Futures.

With investment, is it an investment with your own money, not from a loan?

These things will decide that will your trading or investment get a margin call, loan expiration or position liquidation. If you use risky trading types like Margin or Futures, or if you invest with loaned money, you have high risk of losing money. No technical indicators can save you even the market is bullish.

Btcalysis

newbie

Activity: 18

Merit: 10

You can go to any crypto exchange and see what that I am talking about if you use the 1 day chart. Do not let MACD and SAR deceive you. Go for BB and RSI for the analysis.

https://talkimg.com/images/2024/10/02/iT6oN.png

Do not listen to those that thought the bull run is over.

Topic: Bitcoin may not fall below $55000 and 58000 - page 2. (Read 275 times)