^ 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.
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.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.
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.
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.
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.
However, they could be right as well since bitcoin will eventually recover, so $54k is still cheap.
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.
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 $40600. The market is mature but there is still manipulations.Another thing here is the traders who are using leverage too much or don't really know how to use leverage. Because these leverage trades could be a trigger also on short/long squeeze and massive percentage of dump or a pump.
I reckon for a not very mature and very manipulated market similar to these we witness in the cryptospace, big dumps on everyone will occur more than markets from Wall Street. Once the funding rate is on a certain level, someone will begin deleveraging and reset the funding rate. This is the work of the whales usually. However, it appears it is Tether protecting support through Bitfinex.
We should learn what had happened lately on how the situation of dip goes over, because as downtrend begun to burst out buyers also entered. Every opportunity they've seen is a great chance to own bitcoin and hold until such time recovery comes. Strong holders always take the risk, but don't ignore possible crashes when these traders meet their specific goals. Everytime support continue to resist, weak handed individuals tend to lose patience.
the 24 hours Highest reached is 51,934$ 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.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.
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.
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.
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.
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.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.
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.
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.
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)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.
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 .
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.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.
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.
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.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.
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.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.
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.
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.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.
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.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
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. 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
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
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.
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.
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.
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.
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
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 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
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.
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.
Just chill dude, December is just starting you don't have to get panic. The way I see it is just a normal movement just like in the previous months and I like how the price moves since it's not really a straight dump but a dump with some small high. If this continues, Bitcoin would hold its price longer than what we expected and the bear run isn't near yet.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.
Exactly, buying the dip is the right choice considering how the price multiply if you compare it to the previous bull run. If you own at least half or 1 BTC that's a lot of profit if you hodl until the next bull run cycle. So, don't ride with the FUD let them sell theirs and you buy more during the dip. This is a dangerous area now into the $52k's. And nothing else in the market is holding. Longs gonna start getting crushed unless the support comes in. We could be in for an early 2018 type dumpy if this don't stop and rebound. Either way keep stacking sats and enjoy the ride. 😉
Yeah, I think the dump will continue to $50k'ish before we can see some support, otherwise it will be $48k again in the next coming days.
Either way, if you are here for the long haul then better be stacking sats as our strategy.
So we will see, this is December, a month wherein we remain very bullish, but maybe this time it will be very different because of the latest covid situation globally. And no more 6 digit prediction at the end of the month, Lol, don't expect that so we will not be disappointed.
I think this is what happened since bitcoin went down its support level in a significant fashion but now it is trading close to the 50k level, anyway I would not worry too much about what is happening and instead I will concentrate on buying all the bitcoin I could under 50k, since I think there is a real possibility that we are never going to see that price again after bitcoin goes above it during the next days or weeks.
The stock market futures just opened and it’s almost up 1%. And crude oil futures are up 2.5% and most important there wasn’t much Omicron news over the weekend. Seems that people are starting to move on.
So there is a good chance the stock market will start to rally again after this sharp sell off and cryptos will take off afterwards. There is still the issue of tapering and fed rates however that will be a larger issue towards the end of Spring.
So there is a good chance the stock market will start to rally again after this sharp sell off and cryptos will take off afterwards. There is still the issue of tapering and fed rates however that will be a larger issue towards the end of Spring.
Yeah, 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.
~
It's the people who actually makes the price move and not Bitcoin itself though I get your point but I just want to clear things up. Anyway, back to the topic, it seems that Bitcoin price is testing the support level if more weak-hands will going to dump this time so that whales could easily buy them at a low price. I hope weak-hands realize that 'cause if not then they're fuck up once Bitcoin starts to break slowly from $50k - $55k - $60k - $70k and so on though the hardest resistance ever Bitcoin want to break is the $70k and I think I've seen this kind of movement when Bitcoin was at $10k and is trying to break the $15k resistance but couldn't until some months pass by it finally break it straight to $20k and before we even realize it was a bull run already.For people who have faith in Bitcoin, maybe they can see the decline in the price of Bitcoin from the positive side, where the decline in the price of
Bitcoin becomes an opportunity to buy Bitcoin at a low price. I know now is not the time to panic and sell our Bitcoin, but now is the time to be
patient and have faith in Bitcoin. While there's no guarantee that Bitcoin won't go down any further, we have to make sure the Bitcoin support
price is strong enough to keep Bitcoin from falling below $40k. Because if Bitcoin drops below $40k, then quite a lot of investors will panic and there
will be a very deep drop to a much lower price. I also really hope that in the near future there will be good news that will come, so it will trigger
prices to rise again. At least I really hope by the end of this year Bitcoin can return to above $60k price, so early 2022 Bitcoin price will be much
more bullish.
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.
It's the people who actually makes the price move and not Bitcoin itself though I get your point but I just want to clear things up. Anyway, back to the topic, it seems that Bitcoin price is testing the support level if more weak-hands will going to dump this time so that whales could easily buy them at a low price. I hope weak-hands realize that 'cause if not then they're fuck up once Bitcoin starts to break slowly from $50k - $55k - $60k - $70k and so on though the hardest resistance ever Bitcoin want to break is the $70k and I think I've seen this kind of movement when Bitcoin was at $10k and is trying to break the $15k resistance but couldn't until some months pass by it finally break it straight to $20k and before we even realize it was a bull run already.
The stock market futures just opened and it’s almost up 1%. And crude oil futures are up 2.5% and most important there wasn’t much Omicron news over the weekend. Seems that people are starting to move on.
So there is a good chance the stock market will start to rally again after this sharp sell off and cryptos will take off afterwards. There is still the issue of tapering and fed rates however that will be a larger issue towards the end of Spring.
So there is a good chance the stock market will start to rally again after this sharp sell off and cryptos will take off afterwards. There is still the issue of tapering and fed rates however that will be a larger issue towards the end of Spring.
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.
It's the people who actually makes the price move and not Bitcoin itself though I get your point but I just want to clear things up. Anyway, back to the topic, it seems that Bitcoin price is testing the support level if more weak-hands will going to dump this time so that whales could easily buy them at a low price. I hope weak-hands realize that 'cause if not then they're fuck up once Bitcoin starts to break slowly from $50k - $55k - $60k - $70k and so on though the hardest resistance ever Bitcoin want to break is the $70k and I think I've seen this kind of movement when Bitcoin was at $10k and is trying to break the $15k resistance but couldn't until some months pass by it finally break it straight to $20k and before we even realize it was a bull run already.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.
It's the people who actually makes the price move and not Bitcoin itself though I get your point but I just want to clear things up. Anyway, back to the topic, it seems that Bitcoin price is testing the support level if more weak-hands will going to dump this time so that whales could easily buy them at a low price. I hope weak-hands realize that 'cause if not then they're fuck up once Bitcoin starts to break slowly from $50k - $55k - $60k - $70k and so on though the hardest resistance ever Bitcoin want to break is the $70k and I think I've seen this kind of movement when Bitcoin was at $10k and is trying to break the $15k resistance but couldn't until some months pass by it finally break it straight to $20k and before we even realize it was a bull run already. There's nothing 'dangerous' about this price drop.It is what it is.The price is dropping now,but it will go up.
It seems like the world is still panicking about this new COVID variant,which is weird,because the new COVID variant doesn't seem to be more dangerous than the previous COVID mutations.
There are also some political tensions between USA and Russia about Ukraine,but I don't know what their influence over the cryptocurrency markets will be.
Bitcoin had proven to be pumping in times of uncertainty and crisis.
Just stop caring about the Bitcoin price for a while and enjoy the upcoming holidays.
People do get worried about the price changes all the time. There is nothing we could do to make this work in any other different way, bitcoin will go up and bitcoin will go down and there will be days when we go up insanely high and there will be days when we go down insanely low. People are shocked about 10-20% falls because 50-60% is usually the max we reach, sure we had nearly 90% once upon a time but that was once upon a time and did not stay that way too long. Which is why I believe that we should not be focusing on these type of falls as the death of bitcoin but people invest so much of their money into it that they can't just stop and feel mortified about this fall. It seems like the world is still panicking about this new COVID variant,which is weird,because the new COVID variant doesn't seem to be more dangerous than the previous COVID mutations.
There are also some political tensions between USA and Russia about Ukraine,but I don't know what their influence over the cryptocurrency markets will be.
Bitcoin had proven to be pumping in times of uncertainty and crisis.
Just stop caring about the Bitcoin price for a while and enjoy the upcoming holidays.
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.
There are no more weak hands. All of them have no more money hehehehe.
Trust me, if I can still know a few people worried, and considering to sell now, already, then there's plenty more not known to me. I saw this before in 2017, even at the end of 2016. A few years later, some are silently returning, or did so this year, of course re-entering at a price way above the one they liquidated at in 2016-17!
It's not an insult of mockery from me, either. Just the way it is.
There's nothing 'dangerous' about this price drop.It is what it is.The price is dropping now,but it will go up.
It seems like the world is still panicking about this new COVID variant,which is weird,because the new COVID variant doesn't seem to be more dangerous than the previous COVID mutations.
There are also some political tensions between USA and Russia about Ukraine,but I don't know what their influence over the cryptocurrency markets will be.
Bitcoin had proven to be pumping in times of uncertainty and crisis.
Just stop caring about the Bitcoin price for a while and enjoy the upcoming holidays.
It seems like the world is still panicking about this new COVID variant,which is weird,because the new COVID variant doesn't seem to be more dangerous than the previous COVID mutations.
There are also some political tensions between USA and Russia about Ukraine,but I don't know what their influence over the cryptocurrency markets will be.
Bitcoin had proven to be pumping in times of uncertainty and crisis.
Just stop caring about the Bitcoin price for a while and enjoy the upcoming holidays.
I believe that there are no reason that we should be afraid of the recent price drop of bitcoin because if you are already been part of crypto community for about a year or long time then you would already used about the price correction. If you are a risk taker investor or trader this would be a great time for you to refill or fill your bag especially top crypto like bitcoin and ethereum because this are proven worth it to hold for a long term investment.
For me probably the support isn't strong enough to hold the current level in my views wherein wherein base as well on its structure that seems some holders is gradually dumping for good, actually there's alot of news last couple of days about some big investors that keep buying at the dip including El Salvador, but looks like not enough to keep the current level from the bearish season and for sure every holders have doubts on this situation.
And I've found this as a normal thing to happen and have to accept that bearish had come after enjoying the long bullish season. Despite those adoptions and growing demand, there is still time that the market will be going to drop. It is either a bear trap setup or market reset. https://investorplace.com/2021/09/btc-eth-ada-xrp-why-is-the-crypto-market-down-today/
A lot of factors affect the price but I think, HOLD is meant to do so. Well, I just hope that people won't rush selling their coins at cheaper prices but instead wait for a while.
This is a dangerous area now into the $52k's. And nothing else in the market is holding. Longs gonna start getting crushed unless the support comes in. We could be in for an early 2018 type dumpy if this don't stop and rebound. Either way keep stacking sats and enjoy the ride. 😉
There's nothing 'dangerous' about this price drop.It is what it is.The price is dropping now,but it will go up.
It seems like the world is still panicking about this new COVID variant,which is weird,because the new COVID variant doesn't seem to be more dangerous than the previous COVID mutations.
There are also some political tensions between USA and Russia about Ukraine,but I don't know what their influence over the cryptocurrency markets will be.
Bitcoin had proven to be pumping in times of uncertainty and crisis.
Just stop caring about the Bitcoin price for a while and enjoy the upcoming holidays.
For me probably the support isn't strong enough to hold the current level in my views wherein wherein base as well on its structure that seems some holders is gradually dumping for good, actually there's alot of news last couple of days about some big investors that keep buying at the dip including El Salvador, but looks like not enough to keep the current level from the bearish season and for sure every holders have doubts on this situation.
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.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.
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.
for anyone who has been following the bitcoin market for years knows that we have dangerous support at $39,000; $42000, before reaching these strong and dangerous supports we have the support that is at $44000 and $47000, we will only be able to worry if the price drops below $39000, as long as the price remains above $40,000 no problem, because eventually he retested the $50,000; $52,500.
Seems like the market is panic selling to me so no amount of supports could stop it imo. The entire market, not just crypto seems to have dropped quite heavily and as such we can probably assume that there's an external factor here at play that is influencing the market as a whole quite negatively. I reckon there's FUD spreading together with some real investors trying to pull out due to some circumstances or news themselves which caused the crashes here and there to actually happen.
FUD has been a great story every year, they always come to ruin the trend of the market and seriously, this is a yearly scenario and not a new one for me. The market is on big sale, we are down big time but for sure we will rise again after this. I’m buying good coins now and I guess this is the best thing to do than to panic at all. This is why for those who regretted that they haven't bought bitcoin when it was low, this is already good opportunity to accumulate your satoshis. Don't wait too long because we may be going up again very soon. As we have seen, it touched 45k level but we are already in the 48-49k as we speak. So even in that short period, someone already got profits. So it depends on the user how he will take advantage of the market today, will he buy or pass this opportunity?
Op Bitcoin price is already down below $50k and it may go down to around $43k before end of this month. This is not a wish but from the current trend of the market and how the festive season use to affect the crypto market in the past is what form this speculation.
I really do not like it when bitcoin price drops, it gives me a sad feeling knowing that there are some people who rely on their bitcoin to be at least stable if not profitable. However, I also have to say that even though I feel sad at one part, I also feel gleeful that I get to buy some more bitcoin for cheap. Not that I have too much money, specially these past 2 months or so wasn't really awesome, but I still have some saved aside just for days like these.I will be able to buy a small amount once again, and not even going to use full of it, just going to end up buying with half and wait for it to drop more to use the other half, if not then so be it. If you approach crypto as "money gone" and forget about it for years and keep investing tiny bit each time it drops, in few decades I am hoping to be a very wealthy person. Can't say if I will be able to, but I sure do not think these drops matter for that.
I'm sure a lot of people were disappointed with the Bitcoin price dropping to below $50k all of a sudden. Because as you said, many people really
hope that before the end of this year Bitcoin can reach new ATH. This is the risk of investing in Bitcoin, sometimes Bitcoin moves not according to
what we predict. I'm also surprised by this price drop, I don't think Bitcoin will drop below $50k. Maybe what we can do is buy more Bitcoin, if we
still have extra money. But if not, we just need to be patient waiting for the Bitcoin price to recover again. After all, most people do invest in Bitcoin
for the long term, so I believe that selling Bitcoin right now is just a newbie who panicked to see the price of Bitcoin fell quite deep.
Seems like the market is panic selling to me so no amount of supports could stop it imo. The entire market, not just crypto seems to have dropped quite heavily and as such we can probably assume that there's an external factor here at play that is influencing the market as a whole quite negatively. I reckon there's FUD spreading together with some real investors trying to pull out due to some circumstances or news themselves which caused the crashes here and there to actually happen.
FUD has been a great story every year, they always come to ruin the trend of the market and seriously, this is a yearly scenario and not a new one for me. The market is on big sale, we are down big time but for sure we will rise again after this. I’m buying good coins now and I guess this is the best thing to do than to panic at all. This is why for those who regretted that they haven't bought bitcoin when it was low, this is already good opportunity to accumulate your satoshis. Don't wait too long because we may be going up again very soon. As we have seen, it touched 45k level but we are already in the 48-49k as we speak. So even in that short period, someone already got profits. So it depends on the user how he will take advantage of the market today, will he buy or pass this opportunity?
Op Bitcoin price is already down below $50k and it may go down to around $43k before end of this month. This is not a wish but from the current trend of the market and how the festive season use to affect the crypto market in the past is what form this speculation.
I really do not like it when bitcoin price drops, it gives me a sad feeling knowing that there are some people who rely on their bitcoin to be at least stable if not profitable. However, I also have to say that even though I feel sad at one part, I also feel gleeful that I get to buy some more bitcoin for cheap. Not that I have too much money, specially these past 2 months or so wasn't really awesome, but I still have some saved aside just for days like these.I will be able to buy a small amount once again, and not even going to use full of it, just going to end up buying with half and wait for it to drop more to use the other half, if not then so be it. If you approach crypto as "money gone" and forget about it for years and keep investing tiny bit each time it drops, in few decades I am hoping to be a very wealthy person. Can't say if I will be able to, but I sure do not think these drops matter for that.
Op Bitcoin price is already down below $50k and it may go down to around $43k before end of this month. This is not a wish but from the current trend of the market and how the festive season use to affect the crypto market in the past is what form this speculation.
Seems like the market is panic selling to me so no amount of supports could stop it imo. The entire market, not just crypto seems to have dropped quite heavily and as such we can probably assume that there's an external factor here at play that is influencing the market as a whole quite negatively. I reckon there's FUD spreading together with some real investors trying to pull out due to some circumstances or news themselves which caused the crashes here and there to actually happen.
FUD has been a great story every year, they always come to ruin the trend of the market and seriously, this is a yearly scenario and not a new one for me. The market is on big sale, we are down big time but for sure we will rise again after this. I’m buying good coins now and I guess this is the best thing to do than to panic at all. Seems like the market is panic selling to me so no amount of supports could stop it imo. The entire market, not just crypto seems to have dropped quite heavily and as such we can probably assume that there's an external factor here at play that is influencing the market as a whole quite negatively. I reckon there's FUD spreading together with some real investors trying to pull out due to some circumstances or news themselves which caused the crashes here and there to actually happen.
Any support couldnt be an assurance for it to able to hold specially on a dumping market on whose it cant be sure if the certain dump wouldnt able to have some break out.So if you do wait up for those supports for some buyback then its not bad to reconsider on having trailing buys or simply DCA.
Tendency or chances for breaking supports is high specially if we dont see anything that will stop the current selling trend.
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The market is so astonished and annoying, the occurrence of bitcoin degradation in price is not understandable any longer and any more, emerging the price decreasing from day to day, what we passed through like some years back is happening indirectly again, it assumed that the gravity of people demanding bitcoin is not corresponding positively to the supply, many investors is getting and experiencing negativity into investment of bitcoin right now as the price keep on falling instead of accelerating.
And so there's no more support line as this point because the price continues to go down very hard.
Just like hours ago when I checked the price we are still in the $52k'ish and now I was also astonished to see it going as low as $46k. Hard to explain what's the sentiments of the investors maybe except that majority are on the selling mode.
I'm not sure about the negativity as well, the last bad news we had is the covid-19 strain that might put the market into a precarious situation.
. Top coins having a double digit percentage towards the downside.The lowest that it reach was at $41,000 at least and right now the price is at $47,000 and we might see a bit of a capitulation because of what happened. Anyways, Bitcoin dropped into the 21 and 34 EMA which is already a sign of weakness. I just don't know why we are relying heavily in the fundamentals where the market is heavily affected by the sentiments and the emotions of the investors.
What we don't want to see is Bitcoin going below $40,000 because if that happens then what a famous TA that I'm following in Youtube is saying "Brace for Impact" because the odds of a potential bear market will increase.
Seems like the market is panic selling to me so no amount of supports could stop it imo. The entire market, not just crypto seems to have dropped quite heavily and as such we can probably assume that there's an external factor here at play that is influencing the market as a whole quite negatively. I reckon there's FUD spreading together with some real investors trying to pull out due to some circumstances or news themselves which caused the crashes here and there to actually happen.
The market is so astonished and annoying, the occurrence of bitcoin degradation in price is not understandable any longer and any more, emerging the price decreasing from day to day, what we passed through like some years back is happening indirectly again, it assumed that the gravity of people demanding bitcoin is not corresponding positively to the supply, many investors is getting and experiencing negativity into investment of bitcoin right now as the price keep on falling instead of accelerating.
And so there's no more support line as this point because the price continues to go down very hard.
Just like hours ago when I checked the price we are still in the $52k'ish and now I was also astonished to see it going as low as $46k. Hard to explain what's the sentiments of the investors maybe except that majority are on the selling mode.
I'm not sure about the negativity as well, the last bad news we had is the covid-19 strain that might put the market into a precarious situation.
For breaking that far for sure many people are now at fear and think about huge bear market will happen again that's why its expected that many traders right now are selling their stash to stop their losses from certain bad market situation happening right now. Let's hope that this huge crash happening is just for today and tomorrow the price recover since if this crashing will continue we might face the one we afraid to happen and that is a long days of heavy bear market season again.
But it's too early to say that we are in the bear market? There might be some FUD around like this one:
https://bitcointalksearch.org/topic/bitcoin-falling-due-to-fud-fear-uncertainty-doubt-5375333
But it's absurd and funny FUD though, in any case, I still believed that this is due to the new Covid-19 variant news. Maybe investors are afraid and chooses to sell right now. But usually this kind of news will be just temporarily and hopefully we will be back at least in the last two weeks of December and somewhat the price could rally to $60k++.
The $50k support just broke.
And alongside it BTC has now breached $1T market cap which is certainly some bearish territory right here.
I think that $40k support will be tested. Whether it holds or not will be up to chance, but I'm leaning towards the pessimistic side given the scale of the selloff (in fact, it nearly breached $40k on several derivatives exchanges during the liquidation of the longs).
And alongside it BTC has now breached $1T market cap which is certainly some bearish territory right here.
I think that $40k support will be tested. Whether it holds or not will be up to chance, but I'm leaning towards the pessimistic side given the scale of the selloff (in fact, it nearly breached $40k on several derivatives exchanges during the liquidation of the longs).
The market is so astonished and annoying, the occurrence of bitcoin degradation in price is not understandable any longer and any more, emerging the price decreasing from day to day, what we passed through like some years back is happening indirectly again, it assumed that the gravity of people demanding bitcoin is not corresponding positively to the supply, many investors is getting and experiencing negativity into investment of bitcoin right now as the price keep on falling instead of accelerating.
And so there's no more support line as this point because the price continues to go down very hard.
Just like hours ago when I checked the price we are still in the $52k'ish and now I was also astonished to see it going as low as $46k. Hard to explain what's the sentiments of the investors maybe except that majority are on the selling mode.
I'm not sure about the negativity as well, the last bad news we had is the covid-19 strain that might put the market into a precarious situation.
For breaking that far for sure many people are now at fear and think about huge bear market will happen again that's why its expected that many traders right now are selling their stash to stop their losses from certain bad market situation happening right now. Let's hope that this huge crash happening is just for today and tomorrow the price recover since if this crashing will continue we might face the one we afraid to happen and that is a long days of heavy bear market season again.
The market is so astonished and annoying, the occurrence of bitcoin degradation in price is not understandable any longer and any more, emerging the price decreasing from day to day, what we passed through like some years back is happening indirectly again, it assumed that the gravity of people demanding bitcoin is not corresponding positively to the supply, many investors is getting and experiencing negativity into investment of bitcoin right now as the price keep on falling instead of accelerating.
And so there's no more support line as this point because the price continues to go down very hard.
Just like hours ago when I checked the price we are still in the $52k'ish and now I was also astonished to see it going as low as $46k. Hard to explain what's the sentiments of the investors maybe except that majority are on the selling mode.
I'm not sure about the negativity as well, the last bad news we had is the covid-19 strain that might put the market into a precarious situation.
The market is so astonished and annoying, the occurrence of bitcoin degradation in price is not understandable any longer and any more, emerging the price decreasing from day to day, what we passed through like some years back is happening indirectly again, it assumed that the gravity of people demanding bitcoin is not corresponding positively to the supply, many investors is getting and experiencing negativity into investment of bitcoin right now as the price keep on falling instead of accelerating.
I don't think price support in the trading sense doesn't make much sense currently in this situation. I think bitcoin's price movements in the very-near term will mostly depend on macroeconomic stuff; as this recent drop was mostly caused by the markets in general dropping across the board in the first place.
Markets in general have been dumping for quite a while though and bitcoin has been rising first and then became stable after the small drop it had. In my opinion nothing explains this current panic sell down to $43k other than people being crazy and some FUD which I haven't yet heard circulating the internet.Erratic market movements like this can never be explained or predicted.
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. I don't think price support in the trading sense doesn't make much sense currently in this situation. I think bitcoin's price movements in the very-near term will mostly depend on macroeconomic stuff; as this recent drop was mostly caused by the markets in general dropping across the board in the first place.
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.
YES! Bitcoin is on sale, and people are selling everything. Profits are just being taken towards the end of the year as Christmas Day approaches. That dump below through 50K like it was nothing. We had hoped at least to bounce back there, but that didn't happen. ATHs and BTC have essentially just gone sideways, so everything else is almost 30% down. However, I am not so sure until it starts, but once it starts, there will be a closing point.
But it's too early to sell? Christmas is like 2 weeks still so I don't understand the reason to cash out this early. Maybe this is a panic run again, the $48k support levels have been broken already so it's possible that we might be looking at $46k in the next 24 hours if the panic continues.So let's see how it pan out, all the support lines have been broken and it doesn't look good. But we all know how volatile this market is, maybe next week we will see the price bouncing up again and making a break out run.
I will continue to survive even though I am itching to sell it but I think this panic must be resisted and must not be weak in taking action, maybe in less than a month we will face bears and the rest will be positive.
Don't Hold too much on that because now that Bitcoin fell down hardly within just a day ? pricing 47k at this moment from 57k? this is a hard fall that we must take a look seriously .
remember that there are 2 things that might happen this Year end, that is
1 : Market will continue Bullying .
2 : Market will Bull trap.
now we can analyze what will come so Please be aware of what to come and don't trust speculation that High .
remember that there are 2 things that might happen this Year end, that is
1 : Market will continue Bullying .
2 : Market will Bull trap.
now we can analyze what will come so Please be aware of what to come and don't trust speculation that High .
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.
I am just seeing the repeating of 2020 March 19th (the first impact of covid into crypto markets). I am not seeing any other negative news coming out but the new variant of covid is spreading more rapidly which might be the only driven force here. But, nothing here to be afraid of; we had already experienced such a massive dump and then recovery; hence we need to buy the dips and should remain calm.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.
When bitcoin failed to break and hold $69k to $69.5k for two consecutive attempts; it was expected to test its support but now unfortunately it is testing below up to 4th or 5th support levels. But quick bounce is inevitable; hence stay stronger.
YES! Bitcoin is on sale, and people are selling everything. Profits are just being taken towards the end of the year as Christmas Day approaches. That dump below through 50K like it was nothing. We had hoped at least to bounce back there, but that didn't happen. ATHs and BTC have essentially just gone sideways, so everything else is almost 30% down. However, I am not so sure until it starts, but once it starts, there will be a closing point.
But it's too early to sell? Christmas is like 2 weeks still so I don't understand the reason to cash out this early. Maybe this is a panic run again, the $48k support levels have been broken already so it's possible that we might be looking at $46k in the next 24 hours if the panic continues.
So let's see how it pan out, all the support lines have been broken and it doesn't look good. But we all know how volatile this market is, maybe next week we will see the price bouncing up again and making a break out run.
YES! Bitcoin is on sale, and people are selling everything. Profits are just being taken towards the end of the year as Christmas Day approaches. That dump below through 50K like it was nothing. We had hoped at least to bounce back there, but that didn't happen. ATHs and BTC have essentially just gone sideways, so everything else is almost 30% down. However, I am not so sure until it starts, but once it starts, there will be a closing point.
Quote
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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.
If seeing the chart, it could be at $45k-$49k but hopefully, that will not go down too lower and will bounce after reaching the lower price.
But I do not expect that we may see the bear trend at the moment because the chance to see the bull trend still be there.
I wish I could buy some amount at a low price and wait for the bouncing time to come to the market.
I don't think price support in the trading sense doesn't make much sense currently in this situation. I think bitcoin's price movements in the very-near term will mostly depend on macroeconomic stuff; as this recent drop was mostly caused by the markets in general dropping across the board in the first place.
I see no reaction to support so far, when we get there it should be noticable as a bottom. I see trading down, basically decline and price decay over time at least in short term its not acting with bullish prospects. Overall its sideways with profit taking and may do better when we've cleared the holidays and any interference in that way.
Losing 56k area puts into the next rung on the ladder and recent low is just prior channel down from Nov start. So we went down from Nov start more or less, clinged onto a range since Nov 19th till just recent now we lose that and hit the old trend we had tried to escape.
Losing 56k area puts into the next rung on the ladder and recent low is just prior channel down from Nov start. So we went down from Nov start more or less, clinged onto a range since Nov 19th till just recent now we lose that and hit the old trend we had tried to escape.
Well said. The support is still working despite bears huge attack and Bitcoin is still trading above 50K which is a positive sign. .Though Bitcoin is trading below EMA100 which is very worrying some as in May, we had the strongest correction of the year, but I am still optimistic that a strong bounce back is possible before Holiday season and we will not only see it breaking previous ATH but new history will be made with Bitcoin above 100K.
I think the stock market correlation is what is causing all this downward movement. Looking on the daily $53K is actually important support, currently we swept the lows hard and rallied back up but it’s looking like it’s targeting the lows again. Seems like a very weak bounce.
Yeah, it's evident that all financial market is somewhat correlated to each other including ours.
$55,000 was the last support we have, and it was broken in the last 24 hours, I'm seeing that we might have to go to lower. But it's weekend anyways so volume might be weak.
If $53k doesn’t hold then next area is $48K and who knows if that will even hold. Want to know what’s a good way to predict the bottom? Instead of guessing just look at the funding. If it becomes negative then it’s most likely the bottom like it was at $40K and $28k in the past. Right now it’s not negative yet.
$50,000 and then $48,000. Hopefully the round numbers will hold, usually it does and if it did then maybe on Monday we will see a break out run to at least $55,000.
I think the stock market correlation is what is causing all this downward movement. Looking on the daily $53K is actually important support, currently we swept the lows hard and rallied back up but it’s looking like it’s targeting the lows again. Seems like a very weak bounce.
If $53k doesn’t hold then next area is $48K and who knows if that will even hold. Want to know what’s a good way to predict the bottom? Instead of guessing just look at the funding. If it becomes negative then it’s most likely the bottom like it was at $40K and $28k in the past. Right now it’s not negative yet.
If $53k doesn’t hold then next area is $48K and who knows if that will even hold. Want to know what’s a good way to predict the bottom? Instead of guessing just look at the funding. If it becomes negative then it’s most likely the bottom like it was at $40K and $28k in the past. Right now it’s not negative yet.
This is a dangerous area now into the $52k's. And nothing else in the market is holding. Longs gonna start getting crushed unless the support comes in. We could be in for an early 2018 type dumpy if this don't stop and rebound. Either way keep stacking sats and enjoy the ride. 😉
Yeah, I think the dump will continue to $50k'ish before we can see some support, otherwise it will be $48k again in the next coming days.
Either way, if you are here for the long haul then better be stacking sats as our strategy.
So we will see, this is December, a month wherein we remain very bullish, but maybe this time it will be very different because of the latest covid situation globally. And no more 6 digit prediction at the end of the month, Lol, don't expect that so we will not be disappointed.
This is a dangerous area now into the $52k's. And nothing else in the market is holding. Longs gonna start getting crushed unless the support comes in. We could be in for an early 2018 type dumpy if this don't stop and rebound. Either way keep stacking sats and enjoy the ride. 😉
I see no reaction to support so far, when we get there it should be noticable as a bottom. I see trading down, basically decline and price decay over time at least in short term its not acting with bullish prospects. Overall its sideways with profit taking and may do better when we've cleared the holidays and any interference in that way.
Losing 56k area puts into the next rung on the ladder and recent low is just prior channel down from Nov start. So we went down from Nov start more or less, clinged onto a range since Nov 19th till just recent now we lose that and hit the old trend we had tried to escape.
Losing 56k area puts into the next rung on the ladder and recent low is just prior channel down from Nov start. So we went down from Nov start more or less, clinged onto a range since Nov 19th till just recent now we lose that and hit the old trend we had tried to escape.
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.
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.
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