^ Panic sellers will have to learn it the hard way here in crypto. You can't blame them if they want to stop the bleeding in their portfolio and cashing it out early. Maybe they're thinking of going back in the market, once it settled down and re-invest again. But I think majority of us really wanted to just hold, no matter what will be the resistance or support price. In the long run, holding will be the best option.
I do not think that panic sellers knew what they were getting into when they invested in this market, I really believe they thought they will be able to hold their coins even when the price crashed, but even if in theory this is something easy to do once you find yourself facing those circumstances then things are completely different, so they panic as they were not expecting to have to face such a crash and then they sell their coins, it is sad but at the same time it is a learning experience, and many of those that experience something like that and still come back to the market eventually become good holders, as they learn to overcome those negative emotions and avoid selling their coins for such a low price. 
Topic: Bitcoin on sale, will the support continues to hold? (Read 455 times)
^ Panic sellers will have to learn it the hard way here in crypto. You can't blame them if they want to stop the bleeding in their portfolio and cashing it out early. Maybe they're thinking of going back in the market, once it settled down and re-invest again. But I think majority of us really wanted to just hold, no matter what will be the resistance or support price. In the long run, holding will be the best option.
I know we have our own preference in times when the market is very unstable and deciding to end up in panic selling to cash out profits, always rely on our final decision. But i suggest never sell when the price is low as it always bring losses and disappointments in the end. This is the reason why most of us prefer to stay calm and just hold the coins until the price recovers and jus wait for a perfect price to sell. But weak hands often never stay calm and relax, instead they continue selling their coins and end up at a huge loss. 
^ Panic sellers will have to learn it the hard way here in crypto. You can't blame them if they want to stop the bleeding in their portfolio and cashing it out early. Maybe they're thinking of going back in the market, once it settled down and re-invest again. But I think majority of us really wanted to just hold, no matter what will be the resistance or support price. In the long run, holding will be the best option.
Since bitcoin broke another ATH last month, the market has experiences price declination afterwards until now. And if I'm not mistaken the lowest price of bitcoin after the ath was below $46k.
The lowest bitcoin price in the last 30 days since ATH is $42.8K based on CMC, you should only review it when in doubt. https://coinmarketcap.com/currencies/bitcoin/So it can't be avoided that lots of investors lost its hope on bitcoin after it's consecutive steep declination in the past few weeks, those said investors are the one who aren't committed and trust bitcoin that much when in-fact bitcoin has proved its potential since then. Those who have sold their assets already lost the battle, and soon if it recovers again they would feel bad that they had sold their assets in the first place.
Investors play an important role in forming bitcoin price support so that it doesn't dump too big by not selling it. Panicked traders will continue to dump their bitcoin at price so low that it will only worsen market condition. But this kind of situation doesn't just happen once and you should know that the market will recover as soon as the panic is gone. Many people will probably hesitate to hold on for the rest of the year (traders not investors) and they will secure their assets to stablecoin. It's a precautionary measure for anyone who might be hesitant to stick around and I think it can be justified for those who have a hard time controlling their emotion. Analyst says Bitcoin is 'on sale' after BTC price dips below $54,000
I guess we are starting to see some people who are panicking with the possibility of bitcoin going down below $50k.
What are your thoughts, will bitcoin support enough to avoid a dump, and if this price will dump, how low it will go?
Since we are done talking with the possible new ATH, then maybe we should not overlook what is happening now.
Almost the last month the price of bitcoin has experienced a very deep price decline. Even the price of bitcoin has dropped to as low as $42k although it had risen to as low as $50k last week before falling again. Conditions like this make some people panic so they sell their assets because they are afraid that they will experience big losses.Quote
Bitcoin price is dropping back toward monthly lows, but analysts agree that the current range is a “buy zone.”
Bitcoin's (BTC) downtrend extended a few rungs lower on Dec. 3 after the price dropped under $54,000 and traders will note that the BTC/USD daily chart shows a notable uptick in sell volume.
Investors seem concerned at the emergence of a new COVID-19 variant and hawkish comments from the Federal Reserve. Meanwhile, veteran investment icon Charlie Munger added to the fire by comparing the price action in the crypto market to the dot-com era that ended with the bubble popping.
Strong lower support at $52,000 to $53,000
The “listless” nature of Bitcoin's price action over the past few weeks was highlighted by crypto market intelligence firm Decentrader, who pointed to the choppy price action on lower timeframes and the evidence of a slow downtrend on high timeframes as cause for traders' increased fear “that the bull run may be over.”
The analysts suggested that once BTC breaks out of its current range, “the most obvious support cluster lies around $52,000 to $53,000” near the point where the price broke down during the May crash earlier in the year.
Decentrader said,
“Should we get a deeper correction then a strong support area lies around the 200DMA at $46,200 and at the lower support level of $44,300. To the upside, a significant resistance level lies at the round number of $60,000.”
Bitcoin's (BTC) downtrend extended a few rungs lower on Dec. 3 after the price dropped under $54,000 and traders will note that the BTC/USD daily chart shows a notable uptick in sell volume.
Investors seem concerned at the emergence of a new COVID-19 variant and hawkish comments from the Federal Reserve. Meanwhile, veteran investment icon Charlie Munger added to the fire by comparing the price action in the crypto market to the dot-com era that ended with the bubble popping.
Strong lower support at $52,000 to $53,000
The “listless” nature of Bitcoin's price action over the past few weeks was highlighted by crypto market intelligence firm Decentrader, who pointed to the choppy price action on lower timeframes and the evidence of a slow downtrend on high timeframes as cause for traders' increased fear “that the bull run may be over.”
The analysts suggested that once BTC breaks out of its current range, “the most obvious support cluster lies around $52,000 to $53,000” near the point where the price broke down during the May crash earlier in the year.
Decentrader said,
“Should we get a deeper correction then a strong support area lies around the 200DMA at $46,200 and at the lower support level of $44,300. To the upside, a significant resistance level lies at the round number of $60,000.”
I guess we are starting to see some people who are panicking with the possibility of bitcoin going down below $50k.
What are your thoughts, will bitcoin support enough to avoid a dump, and if this price will dump, how low it will go?
Since we are done talking with the possible new ATH, then maybe we should not overlook what is happening now.
Market situation is always in a downward trending mood. There is no such thing as positive news. We heard last week that Australian investors in hype that about bitcoin will be value less so the sale order was much higher but nothing is happen. So we should be careful about fake news. However, bitcoin holders who hold longtime usually do not lose anything. A few days ago we also saw a new ATH. I think it is better to hold on now to get the next result.
We already did surpass the 50k level again. So anything can happen in this market.
One good news, and we may see the btc price rising up again.
But of course, you need to be conservative with your estimates here.
One good news, and we may see the btc price rising up again.
But of course, you need to be conservative with your estimates here.
The fact is that we are entering uncharted territory. Until now the vast majority of models had assumed a repetition of price behavior in cycles during Bitcoin's short history. This cycle already seems quite clear that it does not repeat similar behavior to the previous two. We will have to see what happens in 2022 to pose further analysis, but I, after what I have seen this year, give little credibility to the predictions I see.
Factors like institutional investors, the pandemic and the looming economic crisis that is coming are a few factors that are affecting bitcoin one way or another, and like always the only thing we can do to find out what is going to happen is to wait, however I have the tendency to think bitcoin will still do well during 2022.
Analyst says Bitcoin is 'on sale' after BTC price dips below $54,000
I guess we are starting to see some people who are panicking with the possibility of bitcoin going down below $50k.
What are your thoughts, will bitcoin support enough to avoid a dump, and if this price will dump, how low it will go?
Since we are done talking with the possible new ATH, then maybe we should not overlook what is happening now.
Almost the last month the price of bitcoin has experienced a very deep price decline. Even the price of bitcoin has dropped to as low as $42k although it had risen to as low as $50k last week before falling again. Conditions like this make some people panic so they sell their assets because they are afraid that they will experience big losses. Quote
Bitcoin price is dropping back toward monthly lows, but analysts agree that the current range is a “buy zone.”
Bitcoin's (BTC) downtrend extended a few rungs lower on Dec. 3 after the price dropped under $54,000 and traders will note that the BTC/USD daily chart shows a notable uptick in sell volume.
Investors seem concerned at the emergence of a new COVID-19 variant and hawkish comments from the Federal Reserve. Meanwhile, veteran investment icon Charlie Munger added to the fire by comparing the price action in the crypto market to the dot-com era that ended with the bubble popping.
Strong lower support at $52,000 to $53,000
The “listless” nature of Bitcoin's price action over the past few weeks was highlighted by crypto market intelligence firm Decentrader, who pointed to the choppy price action on lower timeframes and the evidence of a slow downtrend on high timeframes as cause for traders' increased fear “that the bull run may be over.”
The analysts suggested that once BTC breaks out of its current range, “the most obvious support cluster lies around $52,000 to $53,000” near the point where the price broke down during the May crash earlier in the year.
Decentrader said,
“Should we get a deeper correction then a strong support area lies around the 200DMA at $46,200 and at the lower support level of $44,300. To the upside, a significant resistance level lies at the round number of $60,000.”
Bitcoin's (BTC) downtrend extended a few rungs lower on Dec. 3 after the price dropped under $54,000 and traders will note that the BTC/USD daily chart shows a notable uptick in sell volume.
Investors seem concerned at the emergence of a new COVID-19 variant and hawkish comments from the Federal Reserve. Meanwhile, veteran investment icon Charlie Munger added to the fire by comparing the price action in the crypto market to the dot-com era that ended with the bubble popping.
Strong lower support at $52,000 to $53,000
The “listless” nature of Bitcoin's price action over the past few weeks was highlighted by crypto market intelligence firm Decentrader, who pointed to the choppy price action on lower timeframes and the evidence of a slow downtrend on high timeframes as cause for traders' increased fear “that the bull run may be over.”
The analysts suggested that once BTC breaks out of its current range, “the most obvious support cluster lies around $52,000 to $53,000” near the point where the price broke down during the May crash earlier in the year.
Decentrader said,
“Should we get a deeper correction then a strong support area lies around the 200DMA at $46,200 and at the lower support level of $44,300. To the upside, a significant resistance level lies at the round number of $60,000.”
I guess we are starting to see some people who are panicking with the possibility of bitcoin going down below $50k.
What are your thoughts, will bitcoin support enough to avoid a dump, and if this price will dump, how low it will go?
Since we are done talking with the possible new ATH, then maybe we should not overlook what is happening now.
We already did surpass the 50k level again. So anything can happen in this market.
One good news, and we may see the btc price rising up again.
But of course, you need to be conservative with your estimates here.
One good news, and we may see the btc price rising up again.
But of course, you need to be conservative with your estimates here.
The fact is that we are entering uncharted territory. Until now the vast majority of models had assumed a repetition of price behavior in cycles during Bitcoin's short history. This cycle already seems quite clear that it does not repeat similar behavior to the previous two. We will have to see what happens in 2022 to pose further analysis, but I, after what I have seen this year, give little credibility to the predictions I see.
The current market capitalization of bitcoin is $923.6 billion of which bitcoin's dominance in the market is 40.9% (Coin Market Cap) or 38.4% (coingecko). I agree with the analysis above that it has triggered buying in the last few days so the price has gone up. There wasn't a big price gain after this correction and the recovery seems slow, but the best part is that bitcoin didn't hit the $45K support.
The resistance that is expected to be broken next is $50K which is now very close to us and it's around $1.2K again. I don't think it's a hard number to hit, but failed on a previous attempt (a few hours ago).
The resistance that is expected to be broken next is $50K which is now very close to us and it's around $1.2K again. I don't think it's a hard number to hit, but failed on a previous attempt (a few hours ago).
Bitcoin is showing consolidation through lower time frames which means there's already a buyers at the current support and keep adding more when there's a fluctuation. So it will keep holding and maybe the last support for this month because obviously it gradually gaining strength.. So probably the first month of 2022 will be the new start for bitcoin..
^^ Yes, we can take $49k anytime, we are in the sort of the price not going down hard but not people are buying either. We don't know that reasons maybe they are just waiting for something or have move to alt coins for now.
Hopefully we can punch thru that $50k barrier and for sure once we get over that, maybe we could see a new set of FOMO before the end of the year. But if not and the price is just around the $40k'ish, its not that bad, at least we didn't go further in which we might say that we are now at bearish trend.
Hopefully we can punch thru that $50k barrier and for sure once we get over that, maybe we could see a new set of FOMO before the end of the year. But if not and the price is just around the $40k'ish, its not that bad, at least we didn't go further in which we might say that we are now at bearish trend.
We already did surpass the 50k level again. So anything can happen in this market.
One good news, and we may see the btc price rising up again.
But of course, you need to be conservative with your estimates here.
So you have your contingencies if in case it is against your expectations.
I dont know it has to achieve significantly higher but price action is positive right now. It has held the support shown by the recent closing lows, it retested this area on the 11th and put in a higher low which was a place to consider a buy. Its now passed the weekly average and also beaten the downtrend pattern that could be drawn from the ATH so by time and price it is now performing more positively then that initial selloff.
What happens now is sellers in place or those who held with intent to sell into this recovery will now affect the price, it may not matter if bidding is greater then the offers but its usual for price to be challenged. If we can hold the lows of Sunday about 49k area and close higher on the Monday daily bar with the full market volume combatting this weekend recovery in price then once again its a reason to view BTC positively.
What happens now is sellers in place or those who held with intent to sell into this recovery will now affect the price, it may not matter if bidding is greater then the offers but its usual for price to be challenged. If we can hold the lows of Sunday about 49k area and close higher on the Monday daily bar with the full market volume combatting this weekend recovery in price then once again its a reason to view BTC positively.
^^ Yes, we can take $49k anytime, we are in the sort of the price not going down hard but not people are buying either. We don't know that reasons maybe they are just waiting for something or have move to alt coins for now.
Hopefully we can punch thru that $50k barrier and for sure once we get over that, maybe we could see a new set of FOMO before the end of the year. But if not and the price is just around the $40k'ish, its not that bad, at least we didn't go further in which we might say that we are now at bearish trend.
Hopefully we can punch thru that $50k barrier and for sure once we get over that, maybe we could see a new set of FOMO before the end of the year. But if not and the price is just around the $40k'ish, its not that bad, at least we didn't go further in which we might say that we are now at bearish trend.
The price hadnt really dumped down nor able to break more supports which does signify that this might be the possible bottom yet there are small increments of recovery of price but will still not be an assurance that it wont dip further so making such step or decision will
always vary on the risk that you could put up.This is what makes this market too hard to predict on specially if it doesnt really
make out big movements into its price.
49k is not bad at all. I would agree that it is not crashing nor has it been for a while and it hasn't gone up too much recently neither. We are living in a situation where it has been decent enough to suffice for a while and that is all we need at this moment.always vary on the risk that you could put up.This is what makes this market too hard to predict on specially if it doesnt really
make out big movements into its price.
As long as it keeps being this way then we are going to be fine. Stop loss is a tricky situation and you need to make sure that you put it at the right place, otherwise you will lose a lot of money. For example if you do a stop loss at 48k and buy order at 45k then you could maybe be fine, if you do stop loss order at 42k then you might hit that and go straight back up. All in all just like you said there is no assurance of another dip won't be coming, but there are no assurances about the price is not going back up neither, we just need to be ready for whatever happens next in the price movements, doesn't matter up or down, we need to be ready.
You don't have to believe the analyst every time, sometimes their statement could be wrong because there are better opportunities to buy that $54k price of bitcoin, when just recently bitcoin dump below $50k, that's the real buying opportunity, or the dip that we should be looking.
However, they could be right as well since bitcoin will eventually recover, so $54k is still cheap.
I don't think it should be ignored because a little analysis is important too but opportunities will exist from anywhere including in terms of a drop below $50k and a quick return to $55k and then down again this trend is the same as before when bitcoin was at $ 30k, a little opportunity so take advantage even if the percentage you get is small but this will be repeated again.However, they could be right as well since bitcoin will eventually recover, so $54k is still cheap.
If you hold the long, buy as low as possible, but if you only do it in the short term, then I think you will get a little more profit even if it's a small percentage.
Its hard to spot the best position right now so maybe the best indicator to take is what possible dip it will get at the moment since maybe if we try to buy on that situation we can gain on the current bitcoin movement if we want to trade short. But I think those figures is so near considering we didn't drop more harder yet and I guess we can recover back next year on this correction happened.
always vary on the risk that you could put up.This is what makes this market too hard to predict on specially if it doesnt really
make out big movements into its price.
Hopefully that is since we seems like experiencing stability at this point so lets do hope that this will be the bottom then after that we can see the price recovers since if that one happen for sure adoption and trust from other investors will go back again and might the discussion about next country to announce bitcoin will became their legal tender will came true. But I will wait more for few days before taking position since its good to spot the best possible dip to earn huge on u
Its recovery.
You don't have to believe the analyst every time, sometimes their statement could be wrong because there are better opportunities to buy that $54k price of bitcoin, when just recently bitcoin dump below $50k, that's the real buying opportunity, or the dip that we should be looking.
However, they could be right as well since bitcoin will eventually recover, so $54k is still cheap.
I don't think it should be ignored because a little analysis is important too but opportunities will exist from anywhere including in terms of a drop below $50k and a quick return to $55k and then down again this trend is the same as before when bitcoin was at $ 30k, a little opportunity so take advantage even if the percentage you get is small but this will be repeated again.However, they could be right as well since bitcoin will eventually recover, so $54k is still cheap.
If you hold the long, buy as low as possible, but if you only do it in the short term, then I think you will get a little more profit even if it's a small percentage.
Its hard to spot the best position right now so maybe the best indicator to take is what possible dip it will get at the moment since maybe if we try to buy on that situation we can gain on the current bitcoin movement if we want to trade short. But I think those figures is so near considering we didn't drop more harder yet and I guess we can recover back next year on this correction happened.
always vary on the risk that you could put up.This is what makes this market too hard to predict on specially if it doesnt really
make out big movements into its price.
Just so-so movement this weekend and if even tries to attempt to break the $50k barrier but not enough power to push again so it is a failed break out.
But the good thing is that we are in the middle ground, maybe investors are undecided because it is still not moving. But hopefully we can see a break out this Monday to end the year at least at $50k.
You don't have to believe the analyst every time, sometimes their statement could be wrong because there are better opportunities to buy that $54k price of bitcoin, when just recently bitcoin dump below $50k, that's the real buying opportunity, or the dip that we should be looking.
However, they could be right as well since bitcoin will eventually recover, so $54k is still cheap.
I don't think it should be ignored because a little analysis is important too but opportunities will exist from anywhere including in terms of a drop below $50k and a quick return to $55k and then down again this trend is the same as before when bitcoin was at $ 30k, a little opportunity so take advantage even if the percentage you get is small but this will be repeated again.However, they could be right as well since bitcoin will eventually recover, so $54k is still cheap.
If you hold the long, buy as low as possible, but if you only do it in the short term, then I think you will get a little more profit even if it's a small percentage.
Its hard to spot the best position right now so maybe the best indicator to take is what possible dip it will get at the moment since maybe if we try to buy on that situation we can gain on the current bitcoin movement if we want to trade short. But I think those figures is so near considering we didn't drop more harder yet and I guess we can recover back next year on this correction happened.
always vary on the risk that you could put up.This is what makes this market too hard to predict on specially if it doesnt really
make out big movements into its price.
hopefully this will be the case, but I see a decline from $49k to $47k is just short amount of time, luckily it bounce back to $48k again. We've been trying to break that $50k barrier but to no avail.
I think the Omicron news has just started to settle down a bit this week. And hopefully when everything clears, the price could bounce back to at least $50k. The Fed news might still affect the majority of the investors though, but we will see how it goes.
I believe that breaking 50k would be the simplest thing we could ever do, it is literally nothing for us. Why we haven't already? Because market hasn't decided on it yet, if they decide that they want to pass it, 50k would be absolutely piece of candy. We are already near that price, even breaking 60k would be incredibly easy.I think the Omicron news has just started to settle down a bit this week. And hopefully when everything clears, the price could bounce back to at least $50k. The Fed news might still affect the majority of the investors though, but we will see how it goes.
The real problem starts at 70k and that is only because of psychological ATH reasons, anytime we want to break ATH, it takes a while for people to realize it is inevitable and we all go in. Which is why I believe that bitcoin is not "trying to go up" right now, if it was trying to go up then it would have gone up for sure without a problem. In any case, we just need to realize that this is a bit of a time taking thing and we need to wait it out.
However I think we are bound to see the market trading between the 45k and the 55k levels for some time as the investors are simply undecided about the direction the market should take in the future and how fast that growth should be, so instead of the December full of ATHs that everyone was expecting I think we will get one where the price is ranging during the whole month.
You don't have to believe the analyst every time, sometimes their statement could be wrong because there are better opportunities to buy that $54k price of bitcoin, when just recently bitcoin dump below $50k, that's the real buying opportunity, or the dip that we should be looking.
However, they could be right as well since bitcoin will eventually recover, so $54k is still cheap.
I don't think it should be ignored because a little analysis is important too but opportunities will exist from anywhere including in terms of a drop below $50k and a quick return to $55k and then down again this trend is the same as before when bitcoin was at $ 30k, a little opportunity so take advantage even if the percentage you get is small but this will be repeated again.However, they could be right as well since bitcoin will eventually recover, so $54k is still cheap.
If you hold the long, buy as low as possible, but if you only do it in the short term, then I think you will get a little more profit even if it's a small percentage.
Its hard to spot the best position right now so maybe the best indicator to take is what possible dip it will get at the moment since maybe if we try to buy on that situation we can gain on the current bitcoin movement if we want to trade short. But I think those figures is so near considering we didn't drop more harder yet and I guess we can recover back next year on this correction happened.
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