Topic: Bitcoin on Weekly looks Dangerous - page 3. (Read 403 times)

I think, $41,000 is coming soon to appear in the market for those investors waiting for the price to come they will not miss their opportunity to make a good profits. Based on what investors has experienced from the beginning of this year show that the price of Bitcoin will not decrease down to $21,000 again than to increase higher in a way long term investors and short term investors will begin to believe that bull season will definitely start from this year till next year. The signs you are seeing in the Bitcoin chart is a sign that bullish season is very close to the market, and many has prepared for it to manifest before they can start releasing their coins for sale to make a passive income.

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.

Still looks fine to me, the absolute trend line being compromised has not been that reliable a measure for guessing substantial breakdown scenarios imo.    Its challenged but not near defeated imo, its doing what its done in the past we get gains and it takes time to develop and revise all those prices.   Instead of the constant gain some had hoped for we end up going sideways and retracting some of those gains seen, the rate of change is far slower then hoped for but that doesn't mean we are now negative.
   Biggest clue would be the moving averages I think, we are below 50 day average yet it continues to rise overhead of us.  A proper negative conclusion or take on that measure would have us moving upwards the 50 day average and only finding it as a prop for the ceiling to prices.   Overall because of how 50day, 200 day and even the really long term 200 week averages are rising I think we remain positive even with pullbacks.
   If we goto 27k or 25k expect even more disappointment, then fear and finally disorder from forced selling or even optional selling but from people giving up.   Even though we can warn of such a thing, its hard to handle when within the storm people will sell at the very lowest price possible when we all want and know the best time to buy is actually the low and highs are the better time to sell yet human nature has us doing the opposite.   Markets repeatedly do this to us, its almost a living beast trying to scare holders to let go.  Being familiar helps and also try to take as many view points as possible, first order is to note each time bar available on the graph as almost a separate entity and behavior in that time pattern.  Obviously all time has a relation to every other unit but consider the spirit of every unit as a new creature moving in the price with a different pace and stride to its price moves.   Hope that makes some sense, as humans our vision of the world is never perfect keep double checking is my rough bottom line & I would stress is important for accuracy.



Im not taking more then 5 seconds on a chart because its an obvious point, we arent even past March April and later volume.  Its not especially more then a normal pullback, demonstrating no great strength and has yet to wipe prior volume even recently seen; it did lose its rapid gains and that also is probably normal.
Put a trend on pricing since mid June, see if we breakdown out of that and then its something of a failure scenario & may then prove more then a pullback idling nothing burger.

Well, I know little to nothing when it comes to reading charts, but what I do think is that, $29,000 has been acting as a strong resistance, and if it continues to hold on for some time, there is every possibility that the price will shoot up soon, but this all depends on what comes from the media though, since this days, the SEC and other regulatory challenges with some crypto companies and exchanges has been really taking a toll and stampeding the growth of bitcoin in terms of price, initially, I thought by now, bitcoin should already be trading above $35,000 at least, but reaching this amount has been a big challenge due to various regulatory issue going on with some crypto companies.

So lets hope things calm down a bit and there is no negative sort kind of news soon, cus if one comes up, i think bitcoin will return back to the area of $28,000 or lower, and if eventually this happens, i am not moved though, I keep holding.

Were surely on the right track with Bitcoin momentum and it is really slowly increasing its market price from 15k$ from the last drop, In my opinion, it's probably going to reach around 40k$ at the end of the year, yes there was some resistance from 31k$ but most of the time December was a great month on cryptocurrency and a lot of investors are going to invest again so I'm thinking that it is a good month where the market price could reach 40k$ again. For sure this is getting kinda risky considering we didn't see the market price at this price level, in the past month only on the past Bullrun. But everything is going fine since we are seen as a risky investment so its totally fine if that price is going to drop because there are always going to be some corrections on the market and its fine its when the price drop that just means that you could buy Bitcoin at a discount.

Still, I don't think that we are going to see an all-time high this year because we still need a catalyst or something that is going to trigger that market to skyrocket, I was really hoping that the Bitcoin halving event is going to be that one whos going to encourage big investors, companies, etc. to put their money again on cryptocurrency.

I feel like we have already overcome the dangerous part and now we are going towards the better part. For far too long we have gone from 15k to 30k and stayed around that level, it has been months and we will definitely make a move soon enough. I am hoping that its not going down because that would be sad, but if we are going down then so be it, I will just buy some more and move on with my life. However, I am guessing that it will probably make it go higher instead, that should be something to care about. I understand that life is not that simple for a lot of people when the price goes down, but maybe we will go up and not have to face these issues.

If the price or pattern shows a very deep decline, we shouldn't worry because it will allow us to see an opportunity to buy bitcoin. And if you stay calm in every situation, you will see a big discount opportunity later, so you can prepare some money to buy at a lower price again.

I still can't get an idea where bitcoin will go, but if the pattern does happen, we will get another big discount

Prepare your money and place your purchase order at the lowest price and enjoy the discount

For now the support line is $29k, yeah we drop to $28k but we quickly bounce back and the bulls trying to defend the $29k line. It's dangerous if we have seen the decline to continue when we start to go down to $28k.

But the market is healthy I guess as it was just a scare and it didn't go on a downward spiral.

So let's see, we all know that even if the bulls is trying very heard, just one negative news will pull the price again.

Trying out to connect in having that fundamental or typical approach since we do know that the month of August is a ghost month then we cant really that able to avoid out on having those assumptions that the price

might really dropped with these levels, not only on basing or what we are seeing on technicals but also in fundamentals as well on which this is already that starting up. Now the price isnt really moving on an inch
which we can really be able to say that Bitcoin do really looks like a stable coin.  . Weekly charts might be seeing some bearish but just like you said that its holding up strong which we might not be able to see those digits or having those 4k to 8k kind of decrease on maximum on 20k+ above price. Even myself is really that boggling out on where it could possibly go in speaking with its price which its really
hard to predict out as always.

I think the resistance is still strong. As bitcoin is resisting dropping below $28,000, I still think there is a greater possibility for it to survive this level and cross back to $30k+ in the coming days, even as the chart proves otherwise. Many chart readers have predicted it to go below $26k in the middle of August, but I don't see that happening so soon.

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?