Bitcoin on sale, will the support continues to hold? - page 2.

RealMalatesta

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Quote from: $crypto$ on December 09, 2021, 08:17:54 AM

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.

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.

I doubt that the return to 55k could be resulted with that if we include the hype involve right now. The year is ending and whenever people are getting closer to something like that, they end up getting excited about it. Consider it like a reverse panic sell. Whenever there is a price fall, it could be regarding ANY reason at all, there are also people who panic sell, and the number of them do not grow smaller because even though old "newbies" become veterans eventually, there are also brand new newbies that end up doing it again and again until they become veterans.

Same goes out for bitcoin prices going up, the moment it starts to go up, there is a "panic buy" or whatever you want to call it and people jump into the bandwagon hoping that they could get rich and that usually end up being not so much profitable at all for them but they still do it every single time. This will cause it to not drop under 50k if it starts to go up too much, people will turn it into a bull run.

$crypto$

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Quote from: Sanitough on December 09, 2021, 07:09:50 AM

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.

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.

Sanitough

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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.

cryptomaniac_xxx

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Quote from: rahmatrf331 on December 08, 2021, 10:23:15 AM

year-end holidays will be a strong price correction trigger for now, I think many are trying to sell bitcoin assets for year-end holidays, but it's only for a moment and can't be a benchmark for a long correction. bitcoin will be a strong defense to face the end of the year.

Hmm, last year we don't have this kind of year end triggers, and even it's a holiday, bitcoin investors continue to buy at a rate last year.

Maybe this year it's different, the price maybe too expensive for now, or there is some kind of manipulation going on as we seems to can't get over the $50k resistance and then the Omicron still lingers in the space.

So support will be at $48k, if the price continues it's downward slope when we might re-visit that price again.

bbc.reporter

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Quote from: GreatArkansas on December 05, 2021, 04:03:47 AM

Quote from: bbc.reporter on December 05, 2021, 03:25:05 AM

Quote from: Oshosondy on December 04, 2021, 02:44:45 AM

Quote from: bbc.reporter on December 04, 2021, 02:08:50 AM

Agreed. However, sometimes bitcoin is very much manipulated by the whales. They short in the futures market first before they dump the spot market. We have witnessed sustained selling for weeks before this big dump we are witnessing right now. If anyone is not shaking their heads in suspicion on this then they might need to go to a doctor to check their brain.

I am just getting this scenario for the first time. Now that many exchanges are making it also possible to use bitcoin directly to trade USDT M futures, also that Coin M make use of coin directly, like bitcoin as the coin example. The whales can likely just use bitcoin for the trading and short it but later also sell the bitcoin which will result to further price fall. People just need to be careful, a lot of trader's fund had liquidated when bitcoin plunged from $57000 to $40600. The market is mature but there is still manipulations.

Also after manipulating everyone and dumping, they begin buying all the lower priced coins then begin pumping the market again and create fomo hehe. I am shaking my head why there are some people who still think that the dump was caused by weak hands. There are no more weak hands. All of them have no more money hehehehe.

We can't totally blame the whales here, if that's how they make money, so be it. But overall I don't find that 100% this is the reason for some dumps on the market. We already reached a $1 trillion crypto market cap, volume is growing and I believe manipulate is slowly difficult as the volume continue to go up.

Another thing here is the traders who are using leverage too much or don't really know how to use leverage. Because these leverage trades could be a trigger also on short/long squeeze and massive percentage of dump or a pump.

I reckon for a not very mature and very manipulated market similar to these we witness in the cryptospace, big dumps on everyone will occur more than markets from Wall Street. Once the funding rate is on a certain level, someone will begin deleveraging and reset the funding rate. This is the work of the whales usually. However, it appears it is Tether protecting support through Bitfinex.

Boov

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We should learn what had happened lately on how the situation of dip goes over, because as downtrend begun to burst out buyers also entered. Every opportunity they've seen is a great chance to own bitcoin and hold until such time recovery comes. Strong holders always take the risk, but don't ignore possible crashes when these traders meet their specific goals. Everytime support continue to resist, weak handed individuals tend to lose patience.

justdimin

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Quote from: btc78 on December 08, 2021, 02:34:26 AM

the 24 hours Highest reached is 51,934$ meaning 52,500 is almost being taken but suddenly price drops again now to 50k level.
but what I am seeing this week is 55,000 because the bear seems to be ending and stabilization is coming to take over and that is the 55k-60k level again in which the barricade this couple of weeks that 60k is really hard to climb.
I may consider Holding my funds for the whole year now since there is no views that we will be making another ATH this end of 2021.

Accumulation stage has already ended, whatever drop we had, we had it already and that was it. I am quite happy with seeing all these increases because it shows that there is a good chance we could end up making a good return from them. Obviously it is not guaranteed deal and we just need to make sure we are doing fine with what we have and not risk too much thinking we are going to skyrocket from here.

Those investments are the riskiest, we think we saw the bottom, we put everything we have into crypto and then we realize there was a bigger bottom and that causes everyone to panic and basically it is just pure chaos in the market. We just need to relax, invest what we can afford to lose as always, and try to have a positive outlook and try to avoid saying anything that would risk the future increases in bitcoin. If we all do that, then we could profit very well.

rahmatrf331

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year-end holidays will be a strong price correction trigger for now, I think many are trying to sell bitcoin assets for year-end holidays, but it's only for a moment and can't be a benchmark for a long correction. bitcoin will be a strong defense to face the end of the year.

btc78

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Quote from: Botnake on December 08, 2021, 01:34:44 AM

I think $52k is very much possible within this week since we are now seeing bitcoin above $50k and to think that we are already out of the bearish looked market, then hopefully the present value can go straight forward to $55k and then finally $60k. The Omicron variant may affected the market but did not created a huge impact and that is why bitcoin is now starting to recover. And before we knew we are close to year end, bitcoin has already reached a new ATH maybe $70k-$80k which are closely possible. This is the reason why hodling bitcoin this time is still the best option to make.

the 24 hours Highest reached is 51,934$ meaning 52,500 is almost being taken but suddenly price drops again now to 50k level.
but what I am seeing this week is 55,000 because the bear seems to be ending and stabilization is coming to take over and that is the 55k-60k level again in which the barricade this couple of weeks that 60k is really hard to climb.
I may consider Holding my funds for the whole year now since there is no views that we will be making another ATH this end of 2021.

Botnake

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Quote from: btc_angela on December 07, 2021, 12:03:46 PM

Quote from: mia_houston on December 07, 2021, 05:18:52 AM

Quote from: STT on December 06, 2021, 04:50:08 PM

Heres a critical point, a downtrend that we need to outlast and beat to continue this slight recovery from the sell. I'm looking for price to handle itself positively past the 49k area or continue negatively as per prior price action.

The critical confirmation to negative resolution of this current sideways movement would be to trade below 46900 on 4hr bars, I think that could be an important point to observe.

I see that today bitcoin is starting to correct, although not too much but it looks like the bitcoin price is starting to slowly rise again, in the last 24 hours the Bitcoin price has started to rise to almost 7.87% from the previous price below $49K, although the upward trend is not enough strong but at least it shows that bitcoin is recovering very quickly at the moment.

We need to go over $52,500 in my opinion to be able to say that we are out of the bearish cycle for now.

But the price just seems to be hovering around $50k-$51k for the meantime, but it's better if we take it slowly and not go spike again. Maybe there are more buyers obviously that are not afraid to gamble right now because the price is cheap at ~$49k.

And maybe the news about the Omicron variant has settled down a bit that's why we have a good rally in the last 24 hours. So let's see and be positive that it will continue this week and try to attempt $52k.

I think $52k is very much possible within this week since we are now seeing bitcoin above $50k and to think that we are already out of the bearish looked market, then hopefully the present value can go straight forward to $55k and then finally $60k. The Omicron variant may affected the market but did not created a huge impact and that is why bitcoin is now starting to recover. And before we knew we are close to year end, bitcoin has already reached a new ATH maybe $70k-$80k which are closely possible. This is the reason why hodling bitcoin this time is still the best option to make.

Reatim

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Quote from: Questat on December 03, 2021, 03:30:35 PM

Analyst says Bitcoin is 'on sale' after BTC price dips below $54,000

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.”

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.

It is continuing to Keep holding , Look at the market situation now just got increased to 59k but never taken the 60k (in which being broken many times this year)
this shows how the denial is happening and we may see this for another week before finally given the much awaited increase in value.
70k? well now that bad to expect but of course looking for 80k if possible before New Year as i would be glad to withdraw and use some funds for vacation .

TravelMug

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Quote from: macson on December 07, 2021, 02:14:35 PM

Quote from: mia_houston on December 07, 2021, 05:18:52 AM

Quote from: STT on December 06, 2021, 04:50:08 PM

Heres a critical point, a downtrend that we need to outlast and beat to continue this slight recovery from the sell. I'm looking for price to handle itself positively past the 49k area or continue negatively as per prior price action.

The critical confirmation to negative resolution of this current sideways movement would be to trade below 46900 on 4hr bars, I think that could be an important point to observe.

I see that today bitcoin is starting to correct, although not too much but it looks like the bitcoin price is starting to slowly rise again, in the last 24 hours the Bitcoin price has started to rise to almost 7.87% from the previous price below $49K, although the upward trend is not enough strong but at least it shows that bitcoin is recovering very quickly at the moment.

Bitcoin price will definitely recover because the current support for bitcoin is big enough. There must be many out there who panic sell, they really don't learn from the history of bitcoin prices, the price of bitcoin will not fall below $40k again, in the near future for sure bitcoin will return to $60k+

Support is just what it is, until it is broken, and we have seen the $50k and even $48k being broken right? So I wouldn't discount that they are big enough, as people panic and we will see a huge sell off and that support will crumble.

The good news is that in the last 2-3 days, bitcoin is quite in the recovery phase, posting as high as 7% growth in 24 hours.

A gauge that we might be back to normal buying again and obviously, very bullish this December.

macson

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Quote from: mia_houston on December 07, 2021, 05:18:52 AM

Quote from: STT on December 06, 2021, 04:50:08 PM

Heres a critical point, a downtrend that we need to outlast and beat to continue this slight recovery from the sell. I'm looking for price to handle itself positively past the 49k area or continue negatively as per prior price action.

The critical confirmation to negative resolution of this current sideways movement would be to trade below 46900 on 4hr bars, I think that could be an important point to observe.

I see that today bitcoin is starting to correct, although not too much but it looks like the bitcoin price is starting to slowly rise again, in the last 24 hours the Bitcoin price has started to rise to almost 7.87% from the previous price below $49K, although the upward trend is not enough strong but at least it shows that bitcoin is recovering very quickly at the moment.

Bitcoin price will definitely recover because the current support for bitcoin is big enough. There must be many out there who panic sell, they really don't learn from the history of bitcoin prices, the price of bitcoin will not fall below $40k again, in the near future for sure bitcoin will return to $60k+

btc_angela

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Quote from: mia_houston on December 07, 2021, 05:18:52 AM

Quote from: STT on December 06, 2021, 04:50:08 PM

Heres a critical point, a downtrend that we need to outlast and beat to continue this slight recovery from the sell. I'm looking for price to handle itself positively past the 49k area or continue negatively as per prior price action.

The critical confirmation to negative resolution of this current sideways movement would be to trade below 46900 on 4hr bars, I think that could be an important point to observe.

I see that today bitcoin is starting to correct, although not too much but it looks like the bitcoin price is starting to slowly rise again, in the last 24 hours the Bitcoin price has started to rise to almost 7.87% from the previous price below $49K, although the upward trend is not enough strong but at least it shows that bitcoin is recovering very quickly at the moment.

We need to go over $52,500 in my opinion to be able to say that we are out of the bearish cycle for now.

But the price just seems to be hovering around $50k-$51k for the meantime, but it's better if we take it slowly and not go spike again. Maybe there are more buyers obviously that are not afraid to gamble right now because the price is cheap at ~$49k.

And maybe the news about the Omicron variant has settled down a bit that's why we have a good rally in the last 24 hours. So let's see and be positive that it will continue this week and try to attempt $52k.

mia_houston

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Quote from: STT on December 06, 2021, 04:50:08 PM

Heres a critical point, a downtrend that we need to outlast and beat to continue this slight recovery from the sell. I'm looking for price to handle itself positively past the 49k area or continue negatively as per prior price action.

The critical confirmation to negative resolution of this current sideways movement would be to trade below 46900 on 4hr bars, I think that could be an important point to observe.

I see that today bitcoin is starting to correct, although not too much but it looks like the bitcoin price is starting to slowly rise again, in the last 24 hours the Bitcoin price has started to rise to almost 7.87% from the previous price below $49K, although the upward trend is not enough strong but at least it shows that bitcoin is recovering very quickly at the moment.

michellee

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Quote from: Vaculin on December 06, 2021, 03:21:39 AM

Bitcoin at the moment is already below $50k with its current price at $48,517 so it has broke already the $50k support level, and then what's next? $40k? The year is about to end, but it seems bitcoin price will continue to drop more. Yes, this might be a good opportunity to start buying bitcoin, but might be devastating for those who are hodling bitcoin for long term and wish to see huge profits this december. Hopefully, good news will come into the market that will create positive impact into bitcoin price, and i think all good things will certainly follow. The market may looks bearish but definitely, not a perfect time to start panic selling.

If they can change their target for the long term, they will not devastate as bitcoin can increase so high in the future. And now, bitcoin increases to $50k and almost back to $51k so hopefully, the situation can be back and the price will get a nice movement this week. The bearish will change soon, we do not have to panic and it is better to calm down so we can see clearly the time to buy more bitcoin if we miss buying bitcoin at below $49k. Congratulations to people who bought bitcoin at below $49k.

Quote from: snipie on December 06, 2021, 02:58:57 PM

Below $50k is an opportunity to buy cheap bitcoin before riding the train back to $55-60k as a first step then to +$60k and why not another ATH.
The actual price isn't profitable for anyone so I don't think it will hold much there. December is used to be the month of ATH, by mid December we will see a surge in the price imo Wink

Indeed. I agree that below $50k is the best opportunity to buy bitcoin. People now see that what they did a few days ago gives a good result as the price increases this day and back to $50k. They can sell it right now and make a profit while waiting for another downtrend if bitcoin still wants to have another correction. We will see if this month's bitcoin can get another ATH like before. However, it is not easy to increase higher but I still believe that it will increase at the right time.

milewilda

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Quote from: Finestream on December 06, 2021, 04:04:18 PM

Quote from: snipie on December 06, 2021, 02:58:57 PM

Quote from: michellee on December 05, 2021, 09:42:27 AM

We will see $50k soon because after BTC got down yesterday, it seems the price is going strong again and trying to increase step by step. Although it is not easy to lift and reach back to $50k, I am sure BTC can do that and grow at the right time. But BTC needs time before the price can go back to $50k while more support will come to back up bitcoin, which can help bitcoin to lift the price. If the price can increase and back to $50k, maybe we will have a big chance to see the price will continue to grow.

Below $50k is an opportunity to buy cheap bitcoin before riding the train back to $55-60k as a first step then to +$60k and why not another ATH.
The actual price isn't profitable for anyone so I don't think it will hold much there. December is used to be the month of ATH, by mid December we will see a surge in the price imo Wink

It used to be a month of bull run but i think its quite different this year. But i do hope that things will be better and bitcoin will surpass its previous ATH before 2021 ends. Although this may be quite hard to achieve since bitcoin is really down these days but if there will be strong support and positive updates that will help bitcoin to start recovering, then it will be possible that we will still witness a bull run after this long correction. And once bitcoin recovers, all its followers like those solid alts will certainly end up rising their value too.

I had already made myself dumb when it comes to possible price or trend on upcoming years because it do just be on random basis because the community would be the one will really be the dictator when it comes to price movement or condition in the market which it couldnt really be avoided for
you to have those kind of common reactions for a human being to do so.Its normal that we would really be impulsive when it comes to decision
basing on what we do saw.

STT

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Heres a critical point, a downtrend that we need to outlast and beat to continue this slight recovery from the sell. I'm looking for price to handle itself positively past the 49k area or continue negatively as per prior price action.

The critical confirmation to negative resolution of this current sideways movement would be to trade below 46900 on 4hr bars, I think that could be an important point to observe.

fullhdpixel

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Quote from: Yaunfitda on December 06, 2021, 07:21:54 AM

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.

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.

Finestream

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Quote from: snipie on December 06, 2021, 02:58:57 PM

Quote from: michellee on December 05, 2021, 09:42:27 AM

We will see $50k soon because after BTC got down yesterday, it seems the price is going strong again and trying to increase step by step. Although it is not easy to lift and reach back to $50k, I am sure BTC can do that and grow at the right time. But BTC needs time before the price can go back to $50k while more support will come to back up bitcoin, which can help bitcoin to lift the price. If the price can increase and back to $50k, maybe we will have a big chance to see the price will continue to grow.

Below $50k is an opportunity to buy cheap bitcoin before riding the train back to $55-60k as a first step then to +$60k and why not another ATH.
The actual price isn't profitable for anyone so I don't think it will hold much there. December is used to be the month of ATH, by mid December we will see a surge in the price imo Wink

It used to be a month of bull run but i think its quite different this year. But i do hope that things will be better and bitcoin will surpass its previous ATH before 2021 ends. Although this may be quite hard to achieve since bitcoin is really down these days but if there will be strong support and positive updates that will help bitcoin to start recovering, then it will be possible that we will still witness a bull run after this long correction. And once bitcoin recovers, all its followers like those solid alts will certainly end up rising their value too.

Topic: Bitcoin on sale, will the support continues to hold? - page 2. (Read 455 times)