Bitcoin moving with fundamental news - page 2.

teosanru

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Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.

The problem with market right now since past 4-5 weeks is negligible volumes. We saw great volumes last time in April only, at that time we experienced never before volumes must have been some big accumulation by some whale but if you see after that May and even June till now has low volumes which has made us pretty much range bound. To break the range either ways you'll need some strong volumes.

gabbie2010

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Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.

Presently the price had bounce back and got rejected from the strong support between 25341 and 25651 which is the fourth time price got rejected now heading to the last resistance, It obvious that the price is still in ranging mode until the price break through the strong resistance at 27347 and 27447 and retouch i.e resistance turn support thereafter we might assume that the price has resume it's bullish sentiment else the price will continue to range between the resistance and the support hopefully a strong positive fundamental news should trigger a massive pump that will break the resistance.

Silberman

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Quote from: doomloop on June 09, 2023, 06:26:19 AM

Quote from: palle11 on June 07, 2023, 05:34:43 AM

The volatility with price now can be traced with what is coming out from binance legal challenge and allegations with sec and restrictions from some countries. If that is what you call fundamental news maybe and that is going to create more panic until it settles down. However, it shouldn't affect the price of bitcoin for a longtime because bitcoin has a way of moving on after the news. News is a time to make quick profit and quick loss.

It obviously wouldn't crash forever because we have seen such things happening in the past as well where projects and exchanges crashed causing the market to crash as well but it always managed to recover back. For Binance, if things don't work out for them and they have to shut down their services for everyone, it might have a pretty big effect on the market because they are the no.1 exchange in the world right now.

If they shut down services only for customers from the US, it might have a small dump but I don't think that it will have much of an effect knowing the global version will still be operational and most people all around the world use that for their trading operations.

Without a doubt we will have to keep an eye to this situation as binance is simply too powerful and if anything were to happen to it will generate huge consequences for the market as a whole, still even if for some reason binance was forced to completely shutdown its operations and the impact on the price of bitcoin will be felt very strongly, at the same time such a disappearance will not have an effect on bitcoin as an asset, so it would be a matter of time until bitcoin eventually recovered from such a strong hit.

pawanjain

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Quote from: Frankolala on June 09, 2023, 02:25:56 AM

Quote from: pawanjain on June 07, 2023, 11:18:58 AM

For some reason I got a vibe that this news won't impact much on the price and just in few days the price was back to the previous range.
I did short BTC at $26.7k but just when I got the vibe that it's kind of a fakeout then I made an exit.
Fortunately I made an exit at the right time otherwise I would have been at a loss.
I know it was a gamble because the trade was not based on any technical analysis and just the market news.

You shouldn't expect much from bitcoin price this month,because SEC and the crypto exchanges are having issues which might still keep the price of bitcoin within 25k-27k range. Bitcoin is volatile and the price is expected to pump and dump but no one knows to what extent the price will dump or pump to with the present issues surrounding crypto in the US.

You are lucky that you didn't run out of loss because you chose to go into trading. Why don't you think of holding your bitcoin for a long term run,with this strategy,you will be assure of making profit whenever bitcoin have reached your target price of selling. Instead of gambling with your coins,since you don't have any trading strategy. It will save you from getting scared and looking at the price always.

LOL, thanks for the tip but I already have my BTC in a separate wallet intended for a long term HODL.
I don't mess with those coins. But I still keep seeking for an opportunity to make some small gains along the way.
Which is why I have a separate wallet with just a few hundred dollars for trading purpose.
That satisfy my need of getting into trading.

doomloop

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Quote from: palle11 on June 07, 2023, 05:34:43 AM

The volatility with price now can be traced with what is coming out from binance legal challenge and allegations with sec and restrictions from some countries. If that is what you call fundamental news maybe and that is going to create more panic until it settles down. However, it shouldn't affect the price of bitcoin for a longtime because bitcoin has a way of moving on after the news. News is a time to make quick profit and quick loss.

It obviously wouldn't crash forever because we have seen such things happening in the past as well where projects and exchanges crashed causing the market to crash as well but it always managed to recover back. For Binance, if things don't work out for them and they have to shut down their services for everyone, it might have a pretty big effect on the market because they are the no.1 exchange in the world right now.

If they shut down services only for customers from the US, it might have a small dump but I don't think that it will have much of an effect knowing the global version will still be operational and most people all around the world use that for their trading operations.

Frankolala

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Quote from: pawanjain on June 07, 2023, 11:18:58 AM

For some reason I got a vibe that this news won't impact much on the price and just in few days the price was back to the previous range.
I did short BTC at $26.7k but just when I got the vibe that it's kind of a fakeout then I made an exit.
Fortunately I made an exit at the right time otherwise I would have been at a loss.
I know it was a gamble because the trade was not based on any technical analysis and just the market news.

You shouldn't expect much from bitcoin price this month,because SEC and the crypto exchanges are having issues which might still keep the price of bitcoin within 25k-27k range. Bitcoin is volatile and the price is expected to pump and dump but no one knows to what extent the price will dump or pump to with the present issues surrounding crypto in the US.

You are lucky that you didn't run out of loss because you chose to go into trading. Why don't you think of holding your bitcoin for a long term run,with this strategy,you will be assure of making profit whenever bitcoin have reached your target price of selling. Instead of gambling with your coins,since you don't have any trading strategy. It will save you from getting scared and looking at the price always.

GreatArkansas

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For me this is a bullish move for midterm on what happened on Bitcoin, now it's creating a strong support on the $26,000 level.
As you can see last month, that this $26,000 level, we also visited even though we already reached $28,000.

When we dropped on it at the start of this month, and bounce back above $26,000, it's a bullish sign for me, as long as we will hold that $26,000 level starting now. I'll be bullish mid-term especially at the end of this month.

Silberman

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Quote from: Ndabagi01 on June 08, 2023, 04:44:17 PM

Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so let’s see where the breakout would be.

I'm sure this post was prompted by the conflict between Binance and Coinbase with the SEC. This is what you meant by "fundamental news," and it is hardly the first of its type. Such news always has a strong impact on the market, causing a decrease in prices since investors are always moved by such news because it is accompanied by a great deal of worry. However, bitcoin will quickly revert to its usual market course and resume its normal market movement.

It is possible the reaction was even stronger than what it could have been as people have not forgotten what happened with the FTX exchange, so as soon as they heard the SEC was setting its sights against binance a huge red flag was raised on their minds and they decided to make all kind of movements to protect themselves from the crash they thought it was coming, and while the price did indeed went down after this news spread, it was not as bad as we thought and since then the price has recovered in a satisfactory fashion.

Ndabagi01

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Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so let’s see where the breakout would be.

I'm sure this post was prompted by the conflict between Binance and Coinbase with the SEC. This is what you meant by "fundamental news," and it is hardly the first of its type. Such news always has a strong impact on the market, causing a decrease in prices since investors are always moved by such news because it is accompanied by a great deal of worry. However, bitcoin will quickly revert to its usual market course and resume its normal market movement.

Johnyz

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Bitcoin is always moving. Another issue is that the market always reacts to news. In this regard, yes, the movement on the cue ball is quite understandable.

This is how the market works and the influence of one news to the market trend.
Bitcoin still vulnerable from the attack of the government as investors reacts on this. Breakdown are more possible to happen if this trend continues, the volume is weak and the resistance is very strong. If there’s another negative news, you can expect for the real dump.

Faisal2202

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And we do know that, the market is correlated with fundamental news, as before performing technical analysis, fundamental analysis is better to keep in mind to get the overall idea of the current situation we are facing and in future, we are going to face. Such as, what will happen if those exchanges halt their functionalities such as 100 pairs of BUSD and BNB etc. what if they stop trading in them permanently? well that will happen and people will not be able to convert their BUSD and BNB on those exchanges (mainly on Binance) but people will find another way. I only wonder here is, Binance is mainly for BSC network solutions like i know it also supports to many other networks too, but i saw the news that says, ETH networks tokens were the most included in an outflow from Binance. Well, this is just the one factor we should keep in mind in the upcoming weeks. As upcoming news will definitely affect the market but only that much as Coinbase affected it (haha).

Another one is, today, an old account activated and made a huge transaction of 1432.92 BTC today which might affect the price more once combined with the impact of another centralized exchange's seizure when sued by SEC or CFTC.

SamReomo

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Quote from: goaldigger on June 07, 2023, 04:42:21 PM

There’s no volume going up, so the next threat will be the support level.
So many issues today with cryptomarket, and Bitcoin itself are also affected with it. We might see the price lower than $20k again and that could be a big opportunity to many to accumulate more. Bitcoin might hit soon the real bottom at the price level lower than $20k, let’s just wait and do some preparation to buy.

The Bitcoin could dump to $20k when it faces another huge selling pressure in coming days. From its current state I don't see any such pressure on it, and even with such bad news about Binance and Coinbase and the actions that Sec took against those two whale exchanges, the price still wasn't affected that badly and the selling pressure wasn't the way people predicted. I think this time the price can only dump any further if Binance shuts its operations in US, and even that would be temporary not a permanent one.

Aanuoluwatofunmi

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Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.

Either with any major occurrence or not trending in the cryptocurrency world bitcoin still remains bitcoin and a volatile cryptocurrency, the issue on ground with Binance is not a determinant for wether we are going high or low with the market demands and supplies, Binance is just an exchange facing government regulations just as every other, yet nothing happened or changed about bitcoin over years, the news trending is not to create fear but warning others to remove their investment off the centralized exchange.

BTC_Mouse

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Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.

BTC got into low volume now, after getting rejected from the resistance zone. Price reaching the support area as usual, a part of the consolidation. Price kinda moving in a tight channel pattern and gave a break. Nothing can be done here, unless price breakout of the range.

SquirrelJulietGarden

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Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.

Fundamentally I look at Bitcoin halving count down: https://www.bitcoinblockhalf.com/

Before that I searched about Bitcoin cycles with bull years and bear years. I believe in Bitcoin fundamentals (technology, decentralization, Bitcoin cycles, controlled inflation) and I skip temporary news. I would be a liar if I tell you that I did not read news and was not affected by news in the past. I did read a lot of news and was panic a lot with fud. After some years, I knew that Bitcoin is able to grow because of its fundamentals which if I focus on, will help me to read less news and less affected by fud.

Fake outs, wash outs, break outs are parts of market cycle and I believe that Bitcoin has nearly completed this bear market. A few more months, up to 1 year, bear market will end and a new big bull run will come.

Husires

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Quote from: safar1980 on June 07, 2023, 09:57:01 AM

Do you expect the price of bitcoin to go up or down from this range?
The 200EMA serves as a support line on the bitcoin price chart for now, but there is a good chance that the price of bitcoin will go below this support line.

The 200-Week MA Around $24.6k indicates the bottom level from which the price bounced quickly, forming a strong support level for the coming month. It is true that touching this level makes it weaker. However trading volumes are still high to give us an assurance that we will remain above $24.6k for the time being.

Expectations indicate that we will not witness new peaks, as the price of 27.6k proved difficult to break, but we touched the bottom, which means that it will be tested several times, mostly 3 before we see the price either settling above 27 thousand dollars, or returning to levels closer to or below $24.6k

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Quote from: safar1980 on June 07, 2023, 09:57:01 AM

Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.

Do you expect the price of bitcoin to go up or down from this range?
The 200EMA serves as a support line on the bitcoin price chart for now, but there is a good chance that the price of bitcoin will go below this support line.

There’s no volume going up, so the next threat will be the support level.
So many issues today with cryptomarket, and Bitcoin itself are also affected with it. We might see the price lower than $20k again and that could be a big opportunity to many to accumulate more. Bitcoin might hit soon the real bottom at the price level lower than $20k, let’s just wait and do some preparation to buy.

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Quote from: RewFrew on June 07, 2023, 03:19:08 PM

Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.

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Bitcoin Price Moving huge for a news i think. Security Exchange Commission SEC USA Lawsuit against Binance. For this News Bitcoin Price Gone Huge Down. But we saw within short time Bitcoin price reversed and price back. Now Bitcoin Price near about $26.8k. I think Bitxoin Price will stable here and it qill go moon within short time.
Bitcoin Now in uptrends I think within short possible time Bitcoin will hit $35k - $40$. And it will continue go to the new ATH.

As long those news and fundamentals is really that connected to Crypto specially with Binance, then expect that there would really be some significant impact into its price but not all the time.We do know that
when it comes to traditional economic events or situations on which crypto space is really that independent but as the years passing by on which i had also observed that market is really that slowly becoming that too reactive when it comes to economical events which is something that we should really be needing to looking into. This is why its really that important that you should really know on making up switches
in between TA+FA in regarding with your analysis because we've seen that there are really that moments where it do make out some reactions on sometime but there are also moments
on which it doesnt really care at all.

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Quote from: BTC_Mouse on June 07, 2023, 05:13:04 AM

Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.

Bitcoin Price Moving huge for a news i think. Security Exchange Commission SEC USA Lawsuit against Binance. For this News Bitcoin Price Gone Huge Down. But we saw within short time Bitcoin price reversed and price back. Now Bitcoin Price near about $26.8k. I think Bitxoin Price will stable here and it qill go moon within short time.
Bitcoin Now in uptrends I think within short possible time Bitcoin will hit $35k - $40$. And it will continue go to the new ATH.

Litzki1990

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I was really surprised to see the Bitcoin market drop from $27000 to $25000 all of a sudden. I didn't expect Bitcoin to drop below $2000 in a short period of time. After the market stayed at $25000 for a while the market came back around $27000 but once again the market is now around $26000. I am not able to understand how such volatility of the market is indicating the direction of the market.
Many think that the market is likely to go down from the current situation, but I have been observing such volatility in the market for quite some time. No matter how much the market goes up or down, after a while it will be seen that the market has returned to that state again.

Topic: Bitcoin moving with fundamental news - page 2. (Read 456 times)