Topic: Bitcoin price reset (Read 287 times)

If bitcoin did such things then it may not growth to this high, the high unpredictability and volatility made the prices to the moon and now bitcoin can't be influenced even by the celebrities that is why they target the DOGE.

"DOGE is barking at the moon"

We do have lots of threads in related to this scenario about weekly behavior which some do really rely into these kind of movements on week to week basis but i agree that these things
are totally just coincidence and wont be precisely be moving the same on week to week manner which means neither you can take these steps or not but doesnt guarantee
any precise movement.If it does then you are lucky but if not then you would be ending up holding.So it do really varies on market condition or activity.
The community do engage on random manner on different days of the week.

Yes, OP is talking about something which may happen time to time and there cannot be any assurance that will be happening all the times. Moreover, I guess OP is not properly explaining what he is spotting out. There should be multiple examples on different occasion should be presented so that people like me could understand what he's trying to state here. But, I also conclude this would be just a coincidence because we cannot expect market to be behaving similarly at all the times on weekly basis.

It is simply a mere coincidence and also at the weekends the economical activity around the world is less due to holidays so people likely to play more with their crypto trading but if we take a look at the trends of bitcoin and any other crypto market we can't find any rational movements as your logic.

It may be true or not but I just want to know how long you are following these so that you will conclude that every week is following that mechanism so that the direction of market is moving accordingly. I mean just noticing in 1 or 2 weeks will not be enough evidence to say that. You must have at least 20 to 50 such incidents so that you can conclude in more assured way.

I'm saying these because I'm not closely watching like you are mentioning. But there could be many hidden patterns are available in any market and only when we are analyzing in that way, we could notice them. And this is why I'm starting this comment like you may be true or not at the same time.

if you had looked at the charts for more than one or two weeks you would have been familiar with the fact that bitcoin does not follow any trends like this because bitcoin market is not a traditional market to open at the beginning of the week and close at weekends and it is also global!

you are wrong again.
the direction depends only on the trend. on a bull trend the price tends to go up and it will jump up whenever it breaks the resistance. it can be on weekend, middle of the week or the start.

you should always look at the chart as a whole not select a tiny portion of it to make a conclusion.

I think that is not the case, in 2019 I do not know if you remember it, but at the beginning of the year every weekend there was an important movement, usually they were in the "SHORTS" style, my conclusion was that a large whale lowered the price for to be able to buy Bitcoin very cheap, with the intention of snatching the bitcoin of the people who bought at $20k.

Every weekend the market moved, maybe now this is repeated with a whale, maybe it is the same but instead of being in the Bearish sense it is testing new price levels to test the offer.

It is necessary to emphasize that institutional investment is large at the moment, Microestrategy generated with the last Bitcoin bullish rally an increase of more than 4.7 of its net investment, if they decide to buy with half of the profits generated, the market may generate another new ATH for those massive purchases, just as ELON MUSK did not care that Tesla shares fell more than 50% and that his advisers have recommended him to sell his bitcoin to recover the position, he ignored, and now he is enjoying much more profit, if the market moves every week or every month, it is by action of the plan of these whales, it may be that everything is generated there.

One posts above you just say's it all, this is not a reset, just the usual dip and market correction then there will be a period of accumulation then bitcoin going to a new all time high. For day to day traders, doesn't make sense to short bitcoin as you will lose in the end. Much better to buy the dip and simply hold on it.

This is not correct because if you notice bitcoin can reset its price at any point in time but when you look at the partan closely, you will always peek at market sign, once you follow that trend you will know bitcoin market don’t just reset at one’s but follows pattern this also help day-to-day traders.

a reset is not 1-6%,, thats just called a dip

a reset/correction is if the price spiked 50%. the reset drops 50%

a rise from 11 to 37 to 48 to 61 would see a 61 to (30-20) as a reset.
                                               would see a 61 to (60-55) as a dip

Complete coincidence.

Markets are almost efficient, and if there was to be any short term trend like this that is predictable then traders will trade that opportunity away almost immediately.

If you decide to day-trade based on an arbitrary pattern like this, it is almost guaranteed that a bad loss will occur to you sooner or later that would wipe out most of your position.

Isn't that what they call correction now?
Also try looking at the days of the week when traders take profits before they rest.
A lot of movement will happen Saturdays and Sunday but everything reflects on Monday.

It is not a reset but more like a dump that had been traditionally happening in the trading industry.
Just try to consider that too.

bitcoins peak of $60k.. can reset to ~$37k where it will hit a active trader good majority support wall
a complete reset wont go to zero. i believe the ultimate bottom being ~$22k hitting a hard wall of support

ill explain(bare with me)
theres 70% active utxo coin movements(last 6 month) with a value sentiment when they moved of $37k plus
so deem that as 70% of active circulation not wanting to sell below $37k
..
$37k the good support wall for traders
...
as for miner sentiment and the ultimate bottom line
best mining efficiency is at a min cost of $22k right now. no miner would sell below this.
so deem this as the absolute zero being $22k

however some miners have higher costs.
(hardware cost averaged over 9 month recoup/upgrade time..=$16.4. base hw cost per btc)
(plus ~$1.4k extra per 1cent extra in electric cost)
so 4cent=$22k...5cent=$23.4k....6cent=$24.8k....7cent=$26.2k....8cent=$27.6k
    9cent=$29k..10cent=$30.4k..11cent=$31.8k..12cent=$33.2k

iceland industrial (mining farm) are at 4cent(buy aswell as mine if dip below $23k)
china industrial (mining farm) are at 4cent (buy if dip below $23k)
US industrial (mining farms) are at ~6cent (buy if dip below $24.8k)
--they wont stop mining. they will just grab the oppertunity to hoard extra coin

US home hobby mining users are at ~12cent (stop mining and instead buy if dip below $33.2k)
UK home hobby mining users are at ~26cent (stop mining and instead buy if dip below $52.8k)
--yep UK home hobby miners wont mine and instead buy if price dips by 12% right now

japan-germany-denmark home hobby miners already have higher costs so are not mining at home and prefering to buy
...
think about it big US institutional miners could get coin on markets at $24.8k and just buying like crazy
then china/iceland at $22k..
this will require a hell of alot of pressure to fight off the bull of china/us buy frenzy

...
so yea i think $22k is the new 'zero'
and $37 is a good 70% of active traders minimum sentiment

many want a bitcoin reset or deep correction? maybe he already sold his bitcoins and stopped buying them when he showed signs of bullishness,
it's really funny to see people regret like that, and say -75% correction? How come?, Bitcoin holders are different like 3 years before, now the ones who hold bitcoin are companies, they will keep the price from such large volatility, even though -20% to -30% can still happen.

To make this a fact you have to look at the whole data going back to at least 3 or years it may be a coincidence and this might be the trend because of the bull run we never know unless one of us will take the time to sit down and check the data for a longer period of time, for me, it depends on the news that's coming in and the motivation of the traders and investors.

To all the respected members... my analysis isn't an advice or any kind of investment prediction. NO!

No one in the world can predict the price of Bitcoin based on the above three four childish graphs... it was merely a statement to OP and my thoughts on his claims.  But that does not mean this pattern will continue next week or in future.  That's why I did not mention any thing about the future price.

I just said "Yes what you claim did actually happen in last three or four weeks".

But now here I'm claiming and predicting that Bitcoin will be worth 100million in 2030.

All this pattern analysis of numerical (price) sequences that are often used in speculative threads may be a good way to understand the past, but they are not useful for predicting the future. The OP sees regularity where there is none. When faced with sequences of random events, we always find small series within them that are apparently regular, but do not obey any pattern.

Short price actions usually within the week might not be called a reset. You might wanna call it short dips. That's when short traders and weak hands are dumping their bags after hitting a new ATH or weekly highs.
This is kinda normal and it's been happening usually where Btc starts slow on Mondays and dumps on weekends, but then again that's not guaranteed because we're not following the daily price trend but the actual market sentiments.

Just forgot all the semantics, "reset" or something.

We have seen the bitcoin won't go on parabolic rise, at least in every month we will see the price going down like 20% or more, then rising slowly to a new all time high. We have set $61k as the new ATH, but I have a feeling that we can still push for more this month. We have 2 weeks to accomplished this one and then let's the pattern continue next month.

I would not say that is a reset for bitcoin price, but I would say that is a correction for the price. If you want to say that is a reset, that will not be a problem as we see that the price is moving up and down many times. So I guess the price will still be like that, and if you can't use the moment, you will not be able to make a profit. If you want to take benefits from the situations, you can buy and sell bitcoin at a low and high price so that you can make a profit. But that depends on how good you analyze the market.