Topic: Bitcoin Remains at Critical Level of Buyers And Sellers (Read 62 times)

There are no important levels that we monitor in this range. The nearest level is $21,000 and $19,000, which is the barrier between the previous peak and the current rise. As for the current levels, they are psychological levels, and thus the price reached a state of stability after reaching the bottom at $16,000.


Attempting to predict the short term will be useless, given that we will be in the range between $19,000 to $28,000 for a long time. Breaking these barriers is what will give a future signal of a major change.

The cryptocurrency market has produced more billionaires than any other enterprise and experience has taught them to keep funds for accumulation and to purchase large quantities on counter. Price movement until the bull is slowed by this counter exchange. The newbies are guaranteed to be ignorant and should take cautious decisions about their funds. Accumulators have access to information, experience, and funds now, which makes the difference

Well, presently, I think many people consider the current increase in the price of bitcoin as a bull trap, this is why we have not experienced any parabolic move up yet, I personally assume that the current prices increases is based on the fact that bitcoin halving is coming next year, and some people who believe that there will be another bull run are currently taking their positions, that is buying in early.
So it's all a guess work at play currently, if at all the coming halving comes with a bull run with it, like in the previous halves, those buying and holding bitcoin right now will make the most profit.

You should understand the sentiment for the bull lately. People are not expecting price to rise even from December to this time because of the season. Also they are in panic and fear to join the optimistic buyers because they are still expecting the halving with the experience that before the halving, the price will collapse or crash and now they have not seen that reasonable crash, they want to stay outside. But corrections come as the price move so nothing wrong with picking the crumps but the fear of trap still a knowledgeable fact 

Not sure though, we are sort in a bullish momentum in the last month or so, prices even reaches as high as 24,300$.

So I don't understand why it is on the critical levels of buyers and sellers are per the topic. Obviously there are more buyers now, pushing the price to $24,000. Yes, there are corrections, but it's not that big, after that we may see $25,000 next.

And it's also good to just go long, and look for your investment this way, just continue to buy and we will be good.

Not too late for buyers to buy bitcoin and hodl it for long term investment. $24,000 is way too far from its past All Time High, so I don't why other people are still afraid to buy Bitcoin if they have the plan to do so. It's funny how newbies in cryptocurrency choose to buy Bitcoin when it's at its peak then blaming bitcoin for not giving them profits because it's started to dump since bearish market starting to happen again normally after bull run.

Their mistakes is that they don't want to risk big but wanted bigger profits, which contradicts everything.

Please skip all of these and focus on a better thing with long term vision. Your life will be more easily if you buy and hold your bitcoin a few years like 4 to 8 years and if best 12 years. 12 years mean about 3 full cycles that are more than enough for you to enjoy very big bull runs after 3 big block reward halvings.

If you hold your bitcoins like 4 years, you can start in middle of a big bull run and exit at a middle of a bear market. If you hold it for 12 years, you will have no chance to exit in middle of bear market at lower price than your entry price.

Buy and hold means doing that with your own fund, not borrow money from anyone or from any exchange (in Margin, Leverage or Future trading).

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BitcoinBTC price moves sideways in a tight range.
The market bulls are barely managing BTC on the horizontal support.

Finally, the month ended with incredible returns in bitcoin. Thus, if you are a long-term investor, the long-term prospects look favourable as crypto has bottomed out. The monthly candlestick chart is looking good and shows potential upside momentum.

On the lower side of the monthly chart, buyers lost most of last week's gains so far in just three days of this week. Meanwhile, there is a candle inside, which can influence positive trends. However, sellers came back into the market after retracing from the $24,000 level, needing a breakout of this hedge zone soon for more gains.

https://www.tradingview.com/x/SRwHUtxT/

On the hourly chart, bitcoin/USDT is trading at an important level. There are high chances of a breakdown and it could touch the nearest support at $22,600 for this week. Conversely, the $24,000 level was a major selling area.

There is a trading range of 1500 points for this week and speculators can anticipate a sideways movement once it breaks out of this horizontal range. Additionally, the price action is showing an ascending triangle formation on the lower time frame, which could affect the price towards $23,800.

What will happen next?

No need to fear, the ongoing retracement in bitcoin price looks good for a healthy trend. A little patience can help in continuous value maximization. Directional view will take place after breaking this 1500 point horizontal range.