Bitcoin on Weekly looks Dangerous - page 2.

YUriy1991

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Quote from: Johnyz on August 09, 2023, 07:17:17 AM

Quote from: hugeblack on August 09, 2023, 07:00:27 AM

What is the expectation now, we are still below $30,000, but the price is still resisting to reach above $31,000, which we can consider as the strongest resistance level before we reach $41,000 (which is an unexpected scenario based on current trading volumes)

Personally, I hope to see levels less than 25K in the coming weeks. I want to buy a little, and therefore buying at these levels is much better than 41k levels, so my hopes are different from what some people here want. Grin

Looking at the price trend now, it looks like Bitcoin is slowly getting its momentum and gaining more volume as day passed by.
We might not see Bitcoin at the price of $25k again as its able to hold to the support level of $29k. I expect a more bullish trend in the coming weeks.
Despite of the ghost Month, Bitcoin is able to survive the threat of a dump, we should continue to watch the price and decide what's the best for your strategy.

Yes. BTC must be out of the $ 30,000 price. On the other hand, if it fails, and breaks below $ 30,000, BTC will potentially weaken to the US $ 29,500 to $ 28,500 area which can also be considered the next entry area, and many experts estimate that Bitcoin prices will reach $ 33,000 at the end of this semester.

I think this is also very closely related to where there are still a number of potential issues that could hold Bitcoin prices down, such as fears of a potential increase in US interest rates, which are predicted to continue to rise until the end of the year.

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Quote from: ImThour on August 06, 2023, 10:01:30 AM

What do you think is gonna happen?

As my time horizon is quite a few years, I don't really care that much.

Quote from: ImThour on August 06, 2023, 10:01:30 AM

If you look at the Bitcoin chart on Weekly Timeframe, it surely looks very dangerous. It's about to hit the Trendline which is acting as a support since the start of the year.
If it goes below the trendline, you can expect upto 25% discount on Bitcoin price which will bring it down to $21.6k and if it doesn't, then $41k incoming.

You say so yourself. If we have bitcoin at a discount, we should take advantage of it to buy it cheaply.

Even if such a bearish scenario were to occur, I don't think the price would last long at such bearish levels. It would be best to take the opportunity to buy more at such a low price level which we will probably never see again and which in a few years time we wish we had the opportunity to buy.

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Quote from: fzkto on August 12, 2023, 11:30:44 AM

Maybe you are right if you are a long-term investor, you don't need to talk about the danger that the price may fall, because after a while there will be a new rise. But if you trade on the exchange and made a bad trade, after which the price started to fall, it will be dangerous for you. If you don't want to be an investor, you need to analyse charts all the time.

So long-term investors will always be safe and won't be stressed by looking at charts continuously. Having a long-term investment with a predetermined profit price target will be good enough, just buy and hold, no other activities required. The most important thing is that the wallet remains safe and under your control.
for those making quick trades it can be quite a stressful experience, having to constantly monitor the charts and having to determine exactly when to enter and exit. instant profits and of course greater risk

fzkto

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Quote from: tygeade on August 12, 2023, 09:48:20 AM

Quote from: ImThour on August 06, 2023, 10:01:30 AM

If you look at the Bitcoin chart on Weekly Timeframe, it surely looks very dangerous. It's about to hit the Trendline which is acting as a support since the start of the year.
If it goes below the trendline, you can expect upto 25% discount on Bitcoin price which will bring it down to $21.6k and if it doesn't, then $41k incoming.

What do you think is gonna happen?

These things are not "dangerous", people should stop talking about price drops as dangerous or even potential of price drop as dangerous, it's not. It's only a natural part of the crypto world and in fact any market in the world, all markets end up being down and up in turns.

So when the price goes down, that's not a dangerous thing and we should not be considering it as a dangerous situation, it should be received as just a normal business day and that's it. I understand that it may or may not go down more, and it has gone down some already, and that makes some people fear it, but don't be, because just as it goes down, it will go up and there is nothing to worry about it at all and should be considered normal.

Maybe you are right if you are a long-term investor, you don't need to talk about the danger that the price may fall, because after a while there will be a new rise. But if you trade on the exchange and made a bad trade, after which the price started to fall, it will be dangerous for you. If you don't want to be an investor, you need to analyse charts all the time.

tygeade

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Quote from: ImThour on August 06, 2023, 10:01:30 AM

If you look at the Bitcoin chart on Weekly Timeframe, it surely looks very dangerous. It's about to hit the Trendline which is acting as a support since the start of the year.
If it goes below the trendline, you can expect upto 25% discount on Bitcoin price which will bring it down to $21.6k and if it doesn't, then $41k incoming.

What do you think is gonna happen?

These things are not "dangerous", people should stop talking about price drops as dangerous or even potential of price drop as dangerous, it's not. It's only a natural part of the crypto world and in fact any market in the world, all markets end up being down and up in turns.

So when the price goes down, that's not a dangerous thing and we should not be considering it as a dangerous situation, it should be received as just a normal business day and that's it. I understand that it may or may not go down more, and it has gone down some already, and that makes some people fear it, but don't be, because just as it goes down, it will go up and there is nothing to worry about it at all and should be considered normal.

Mr.suevie

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Quote from: RewFrew on August 10, 2023, 04:12:58 AM

Bitcoin price Roughly Stable near about $29k. Some times it up and down. But we can tell near about $29k is Resistance level. But weekly candidate showing it will go up in next week. I think gradually Bitcoin price will increase and within next week Bitcoin price will hit minimum $35k. But if it’s price fall then it will go $25k. But weekly candidate showing it will go up. Of all will ok and we get some positive news then it will must go up and it will hit minimum $35k and within this month Bitcoin price will toich $40k. And i am also waiting for that. Need some crypto wheal if they invest big amount then in market will creat positive impact. Then Bitcoin price will go more up.

Your speculation are rather wild and good actually if it happens but for me I think the resistance of it to break past the 30-31k mark will be very difficult because the price seems to just be hovering around this mark for some time now and seems to get it hard passing this stage. But atleast I know will achieve 40k mark this year but I think it will be towards the end of the year.

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Quote from: RewFrew on August 10, 2023, 04:12:58 AM

Bitcoin price Roughly Stable near about $29k. Some times it up and down. But we can tell near about $29k is Resistance level. But weekly candidate showing it will go up in next week. I think gradually Bitcoin price will increase and within next week Bitcoin price will hit minimum $35k. But if it’s price fall then it will go $25k. But weekly candidate showing it will go up. Of all will ok and we get some positive news then it will must go up and it will hit minimum $35k and within this month Bitcoin price will toich $40k. And i am also waiting for that. Need some crypto wheal if they invest big amount then in market will creat positive impact. Then Bitcoin price will go more up.

The stable price point makes me excited because it doesn't make it look dangerous to me, it makes it look profitable. When the price of bitcoin fails to go down, it goes up and we have tried it, we went from above 30k levels to as low as 29k and it did not drop any lower, it tried and a lot of people sold but buyers made sure that it didn't go any lower.

This is why I think it's quite obvious that we are going to end up with a profit one way or another. We should realize that life is not that simple and it could not be really anything comfortable at all. Lets hope that things do not end up any other way and we could end up making sure that it goes well enough for all of us. 30k will be broken, and we will keep rising higher.

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Aaaaaand as we have seen it wasn't as dangerous as people made it out to be. I get that it's not going to be something that people fear, it's normal and there is nothing wrong with that, but we need to reach to a point where it's not going to be that much of a big deal. We need to realize that this is going to be something to be aware of course but if you keep on looking at data and charts like this forever, then something like this could happen and wipe it all away.

Be aware that even the data that you trust so much could end up with a wrong result in the end, and that's why you need to be aware of the situation at hand and be a lot more careful about it. This is why I believe that we should check the charts, but use them as guide and not data.

RewFrew

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Bitcoin price Roughly Stable near about $29k. Some times it up and down. But we can tell near about $29k is Resistance level. But weekly candidate showing it will go up in next week. I think gradually Bitcoin price will increase and within next week Bitcoin price will hit minimum $35k. But if it’s price fall then it will go $25k. But weekly candidate showing it will go up. Of all will ok and we get some positive news then it will must go up and it will hit minimum $35k and within this month Bitcoin price will toich $40k. And i am also waiting for that. Need some crypto wheal if they invest big amount then in market will creat positive impact. Then Bitcoin price will go more up.

Johnyz

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Quote from: hugeblack on August 09, 2023, 07:00:27 AM

What is the expectation now, we are still below $30,000, but the price is still resisting to reach above $31,000, which we can consider as the strongest resistance level before we reach $41,000 (which is an unexpected scenario based on current trading volumes)

Personally, I hope to see levels less than 25K in the coming weeks. I want to buy a little, and therefore buying at these levels is much better than 41k levels, so my hopes are different from what some people here want. Grin

Looking at the price trend now, it looks like Bitcoin is slowly getting its momentum and gaining more volume as day passed by.
We might not see Bitcoin at the price of $25k again as its able to hold to the support level of $29k. I expect a more bullish trend in the coming weeks.
Despite of the ghost Month, Bitcoin is able to survive the threat of a dump, we should continue to watch the price and decide what's the best for your strategy.

buwaytress

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I might sound like dull Jack but yeah, each time we step up to support, I'm expecting it to break -- only temporarily. Even if it's a series of breaks after that as a result, though, I'm all right to hang in there -- as is the bulk of long-termers -- until the system flushes out the short-termers.

For me, really no point for a rally that won't sustain pre-halving.

hugeblack

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What is the expectation now, we are still below $30,000, but the price is still resisting to reach above $31,000, which we can consider as the strongest resistance level before we reach $41,000 (which is an unexpected scenario based on current trading volumes)

Personally, I hope to see levels less than 25K in the coming weeks. I want to buy a little, and therefore buying at these levels is much better than 41k levels, so my hopes are different from what some people here want. Grin

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Quote from: OgNasty on August 07, 2023, 01:05:41 AM

I’m not seeing danger when I look at that chart. It seems to clearly show that the market has been steadily pushing up since bottoming and is still within the trading range. If anything I think it shows that now would be a good time to buy if the market does remain bullish. I’m expecting the next 6 months to be good ones for holders.

I would rather be patient a little more till the month ends because I see from op's chart that it is gradually pointing at 24,500 which is a support. So if it gets there and bounce of then one can comfortably buy in , or to wait and see how the month price will end. The expectation of next six months depends whether the price will bounce on 24,500 because that seem a strong support or whether it will go do further or bounce off for bull continuation.

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Quote from: ImThour on August 06, 2023, 10:01:30 AM

If you look at the Bitcoin chart on Weekly Timeframe, it surely looks very dangerous. It's about to hit the Trendline which is acting as a support since the start of the year.
If it goes below the trendline, you can expect upto 25% discount on Bitcoin price which will bring it down to $21.6k and if it doesn't, then $41k incoming.

What do you think is gonna happen?

It seems that it is stabilising, but few days ago it was so dangerous. But the support at 29k seems stronger than the 30k defeated support. The bitcoin price is set for 40k launch but then it will retract before proceeding to 40k. I am seeing 25k before the 40k movement. But it is not happening immediately, bitcoin will first touch 30k in few days time and from there it breaks downwards to build for 40k journey.

I am not seeing bit at 21.6k but I do not mean that it is impossible but I have a great fear that if bitcoin touches 21k again, FUD will take it back to the 15k region and this will not be a good news for the anticipated bull run.

AnonBitCoiner

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we should not be distressed because its reality that whenever the price decline to some extent then it also appears as a boosting price after this lower rate. 21.6k$ is very low price and everyone will be anxious its natural but during such conditions we should keep calm as our rapid decision can be threatening for us.

Everything can happen in crypto as its not a stable field but what I think is that it will not reduces to 21.6k$ and if unfortunately it happens then very soon it will go towards the higher rate exceeding 30k$.

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Quote from: ImThour on August 06, 2023, 10:01:30 AM

If you look at the Bitcoin chart on Weekly Timeframe, it surely looks very dangerous. It's about to hit the Trendline which is acting as a support since the start of the year.
If it goes below the trendline, you can expect upto 25% discount on Bitcoin price which will bring it down to $21.6k and if it doesn't, then $41k incoming.

What do you think is gonna happen?

Anytime from now things can change, but looking forward to what has been sighted from the weekly candles we may conclude in saying that bitcoin will fall a little more or maintain the same dip within $29,000, we should also remember that the bitcoin market volatility remains unpredictable, not even now that we are getting more closer to the expected bullrun after halving, this low may just be a preparation for going high to break the limit resistance on $30,000+ to maybe $40,000 in this month of August or September as the case may be.

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Quote from: DeathAngel on August 07, 2023, 03:24:39 AM

21.6k would be a very unpleasant outcome. I think it would take something big for this to happen, like the US conceding that they are in a recession or the SEC outright rejecting all of the pending spot etf applications.

To fall to 21.6k is quite a big drop % wise with the halving now so close. I don’t think it will happen but this is bitcoin & these things do happen.

I don't think it will go down to 21.6k, but the market expects a drop. So I also expect a drop but not to 21.6k. Because the Bitcoin price is stuck at 29k and it wants to make a move. We're all wondering how it's going to make that move.

I don't think it will drop to 21.6k before the halving, but like you said, anything can happen in this market.

Maybe the drop in the Bitcoin price will cause a big volume to enter the market and it could go up again.

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I believe that Bitcoin is into its recovery phase and it will cross the resistance mark of $41k in 2023 if the bullish pattern continues like this. In this chart we can see that the strength of the bullish pattern is far more dominant than the bearish one, and if it continues in this way then for sure the price will get another smaller pump in coming days. I know that in 3 weeks we have just 3 smaller red candles, but their intensity isn't really high till now and if another red candle with high intensity appears then things might be changed in that situation.

The situation gets worse if the candle hits and falls below the trendline, and in that case we can expect Bitcoin to fall below $25k mark, but I highly believe that such event won't take place at least in such times when huge companies like Black Rock. I'm more than sure that if Bitcoin gets another greenish candle then the things will be far better for us because in that case the Bitcoin may hit or cross $35k price mark. Well, it's still too early to decide that what's going to take place next so that's why we should still be positive about the price of Bitcoin.

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Maybe Bitcoins will fall down this time. I am not saying completely from seeing the graph, but yes I am estimating that we might see Bitcoins will land at 25k usd. Now once the price goes down, people will start accumulating it as soon as they can, and this will again increase the demand among people to acquire it. As the demand will increase, the price will also go up. And this whole process will take some time like 3-4 months, and then we will reach in 2024. As known previously Bitcoins follow a 4 year cycle to reach it’s new ATH, so yes this might be the beginning of it.

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21.6k would be a very unpleasant outcome. I think it would take something big for this to happen, like the US conceding that they are in a recession or the SEC outright rejecting all of the pending spot etf applications.

To fall to 21.6k is quite a big drop % wise with the halving now so close. I don’t think it will happen but this is bitcoin & these things do happen.

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