Bitcoin resistance and support price - page 4.

Jating

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Quote from: Wawa2013 on December 11, 2021, 02:35:45 PM

Quote from: justdimin on December 09, 2021, 03:44:12 PM

Quote from: Wawa2013 on December 08, 2021, 05:08:18 PM

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

It is not "that" much under 50k, people act as if we reached 45k already or even getting closer to 40k but the reality is that we only dropped a slightly under 50k, which means it is not doing that bad at all if you ask me and will do a lot better in the long run as well. Why? Because whenever the price falls down, there are those who accumulate, whenever it is accumulated that means it can't keep going down even more, so there is always a bottom and when that is reached the price starts to go up a lot.

I believe that we already tested that, and since we managed to go higher that means we are doing fine right now, it should not be all that difficult to see it going up soon.

I also hope Bitcoin doesn't drop to $45k or even close to $40k, because if that happens there will be a panic sell. Hopefully now more and
more people are buying Bitcoin, so the Bitcoin price can go up again. But I did not expect the price of Bitcoin to still struggle to recover
in the middle of December. Even now the price of Bitcoin is still at $48k, and there is no sign of Bitcoin going up in the near future.
Everything will be fine as long as we don't panic and can think positively, I still really hope that near the end of this year the price of Bitcoin
does not fall any further.

Currently, the support around $48k is strong, so we may be good for now or up to this weekend at least.

We have a good run to $50k but it was not sustained and obviously, sell-off happens to bring the price down again.

Maybe we could see some good signs this coming Monday that we can still go past $50k at least before the end of the year. Usually December is very bullish and I do think positively that we can make it more exciting in the last 2-3 weeks before we closes this year.

Pamadar

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Quote from: asrinur on December 10, 2021, 12:07:12 PM

Quote from: Oshosondy on November 27, 2021, 12:48:20 AM

I am not ready to sell my bitcoin because I know its price will increase back, I do not mind if it will take time but I know it will increase back. But recently the price of bitcoin has been decreasing, before it was at a resistance of $60000 but now it is at a resistance of $55000. I am thinking bitcoin price may never increase for now back to above $60000. The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

When the market is in a bearish phase as it is today, you can short sell to make a profit or to protect your asset from a weakening price. however, short selling in the futures market certainly carries a very high risk. So, technical analysis is needed and precise to project where the bitcoin price will move in the future.

It needs a deeper understanding with the current market,

if you will do some short trade make sure that you are willing to let go and risk your investment, some of those experienced traders are also working with different strategy, they are good in anticipating and use it as good advantage when dealing inside the exchange.

Adjusting if the market is not favoring your position is very important, having different system to continue working even the bearish condition still ongoing.

Wawa2013

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Quote from: justdimin on December 09, 2021, 03:44:12 PM

Quote from: Wawa2013 on December 08, 2021, 05:08:18 PM

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

It is not "that" much under 50k, people act as if we reached 45k already or even getting closer to 40k but the reality is that we only dropped a slightly under 50k, which means it is not doing that bad at all if you ask me and will do a lot better in the long run as well. Why? Because whenever the price falls down, there are those who accumulate, whenever it is accumulated that means it can't keep going down even more, so there is always a bottom and when that is reached the price starts to go up a lot.

I believe that we already tested that, and since we managed to go higher that means we are doing fine right now, it should not be all that difficult to see it going up soon.

I also hope Bitcoin doesn't drop to $45k or even close to $40k, because if that happens there will be a panic sell. Hopefully now more and
more people are buying Bitcoin, so the Bitcoin price can go up again. But I did not expect the price of Bitcoin to still struggle to recover
in the middle of December. Even now the price of Bitcoin is still at $48k, and there is no sign of Bitcoin going up in the near future.
Everything will be fine as long as we don't panic and can think positively, I still really hope that near the end of this year the price of Bitcoin
does not fall any further.

asrinur

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Quote from: Oshosondy on November 27, 2021, 12:48:20 AM

I am not ready to sell my bitcoin because I know its price will increase back, I do not mind if it will take time but I know it will increase back. But recently the price of bitcoin has been decreasing, before it was at a resistance of $60000 but now it is at a resistance of $55000. I am thinking bitcoin price may never increase for now back to above $60000. The support is strong at $50000 and bitcoin has not falled to the level at all but is this not the begining of the bearish market?

When the market is in a bearish phase as it is today, you can short sell to make a profit or to protect your asset from a weakening price. however, short selling in the futures market certainly carries a very high risk. So, technical analysis is needed and precise to project where the bitcoin price will move in the future.

rahmatrf331

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https://i.imgur.com/3fXQC4m.png

the price of bitcoin is difficult to predict whether at the end of December bitcoin will get strong support or have to stay at the current price. but what is certain is that this month's price correction is an annual price correction and many investors close the books for one financial period. the price correction will end when a new leaf is reopened in the first quarter of 2022.

Finestream

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Quote from: justdimin on December 09, 2021, 03:44:12 PM

Quote from: Wawa2013 on December 08, 2021, 05:08:18 PM

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

It is not "that" much under 50k, people act as if we reached 45k already or even getting closer to 40k but the reality is that we only dropped a slightly under 50k, which means it is not doing that bad at all if you ask me and will do a lot better in the long run as well. Why? Because whenever the price falls down, there are those who accumulate, whenever it is accumulated that means it can't keep going down even more, so there is always a bottom and when that is reached the price starts to go up a lot.

I believe that we already tested that, and since we managed to go higher that means we are doing fine right now, it should not be all that difficult to see it going up soon.

Well, let's spread positivity here. Because there's no make sense really if we stay negative the whole time while seeing bitcoin continues to drop its price. Instead, let's even grab this opportunity to accumulate more bitcoin since they are low price this time. Before we knew it, bitcoin will suddenly skyrocket and we'll miss another opportunity again. As bitcoin continue to surprise us especially when december comes, so there are still chances left that we will be seeing bitcoin having its bull run, unless bitcoin continue to drops consistently until december ends.

justdimin

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Quote from: Wawa2013 on December 08, 2021, 05:08:18 PM

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

It is not "that" much under 50k, people act as if we reached 45k already or even getting closer to 40k but the reality is that we only dropped a slightly under 50k, which means it is not doing that bad at all if you ask me and will do a lot better in the long run as well. Why? Because whenever the price falls down, there are those who accumulate, whenever it is accumulated that means it can't keep going down even more, so there is always a bottom and when that is reached the price starts to go up a lot.

I believe that we already tested that, and since we managed to go higher that means we are doing fine right now, it should not be all that difficult to see it going up soon.

Silberman

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Quote from: fullhdpixel on December 06, 2021, 03:18:19 PM

Quote from: Silberman on December 06, 2021, 10:39:59 AM

The two scenarios are not necessary mutually exclusive, whales are very smart and they know how to take advantage of every single opportunity they get, it is possible they saw the announcement of the new strain of the virus and they remembered what happened more than a year ago in this market and in the traditional markets and they took advantage of the FUD this was creating, making a lot of profits in the process and multiplying their capital in a significant manner in just a few days.

This is most probably what happened. It is quite possible that we are talking about whales manipulating the market in any way they possibly could, after all that is what whales do but we do not have to follow them, we could wait it out and thankfully I have been doing just that.

The clearest reason why it is obvious whales manipulated the market is the simple fact that variant was found days and days before the fall happened, if it was due to that variant for some reason (which shouldn't even matter) then we wouldn't be able to wait that long before we start to fall. So to me it is clear that we are talking about a manipulation here if it reacted that lately.

And I agree, the whales are simply too powerful and once they decide to do something then they can do it as they have the resources to do so, however just because the whales have a lot of money that does not mean they are infallible, to me this was obviously one of their maneuvers to try to earn money from other traders that were using too much leverage, but I think it was not their intention to crash the price that much and now bitcoin is having troubles staying above 50k.

Wawa2013

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Quote from: Vaculin on December 08, 2021, 04:37:02 PM

Quote from: uneng on December 08, 2021, 04:16:51 PM

Quote from: dezoel on December 08, 2021, 03:32:40 PM

It is clear that support points do not mean anything. It is clear that we are talking about something that is dangerously fragile whenever we fall, we end up falling all the time and it causes the price to drop under support point without even hesitation. We had a support point recently, we were above 55k and from 55k to 45k we had many support points, what happened with them? Nothing. We broke under them in a few days very easily.

The only silver lining about this situation is that we are talking about resistance points as well, they are just as much fragile and whenever we want to move up, there is nothing that is stopping us there neither and we can increase very easily.

For a while those support levels meant something, but from the moment the market became unstable on, those levels have been broken and now it will take a while until we see new solid support in bitcoin price. At least this kind of interpretation helps us to identify how bitcoin is doing on short run and what its tendencies are. At this moment the market is somehow volatile, although nothing too bad as it was already seen years ago.

Today bitcoin bounced back to 48,000$ and in less than 3 hours later it was already hitting 51,000$ again! That is pretty interesting, but we still need to wait until we can classify a new range of price as support level here.

As long as bitcoin is always volatile, then we will always witness such interesting surging of prices from its previous ones. Although the current price is not yet a guarantee that it will continue to rise up, but it will also create chances once bitcoin will be able to find a new strong support level. For now, let's just wait what will be the next target price of bitcoin, either it continues to move upward, or maybe another false hope again once we see its price moving in a downward trend. Better enjoy the ride and never gets panic.

The price of Bitcoin is still very difficult to predict right now, because it turned out after it managed to touch the price of $51k a few days ago.
Bitcoin is currently still dropping below $50k, so there's still a chance the price will drop even further. I agree with you, we have to be patient
and enjoy the ride, because it's a way to keep us thinking positive. If we panic seeing the current situation, it only makes us decide to sell
the Bitcoin we have at a loss. At least we still have to monitor Bitcoin price movements for the next week, to analyze where Bitcoin will move.
So there's not much we can do in a situation like now, we can only be patient holding the Bitcoins we have.

Vaculin

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Winding down.

Quote from: uneng on December 08, 2021, 04:16:51 PM

Quote from: dezoel on December 08, 2021, 03:32:40 PM

It is clear that support points do not mean anything. It is clear that we are talking about something that is dangerously fragile whenever we fall, we end up falling all the time and it causes the price to drop under support point without even hesitation. We had a support point recently, we were above 55k and from 55k to 45k we had many support points, what happened with them? Nothing. We broke under them in a few days very easily.

The only silver lining about this situation is that we are talking about resistance points as well, they are just as much fragile and whenever we want to move up, there is nothing that is stopping us there neither and we can increase very easily.

For a while those support levels meant something, but from the moment the market became unstable on, those levels have been broken and now it will take a while until we see new solid support in bitcoin price. At least this kind of interpretation helps us to identify how bitcoin is doing on short run and what its tendencies are. At this moment the market is somehow volatile, although nothing too bad as it was already seen years ago.

Today bitcoin bounced back to 48,000$ and in less than 3 hours later it was already hitting 51,000$ again! That is pretty interesting, but we still need to wait until we can classify a new range of price as support level here.

As long as bitcoin is always volatile, then we will always witness such interesting surging of prices from its previous ones. Although the current price is not yet a guarantee that it will continue to rise up, but it will also create chances once bitcoin will be able to find a new strong support level. For now, let's just wait what will be the next target price of bitcoin, either it continues to move upward, or maybe another false hope again once we see its price moving in a downward trend. Better enjoy the ride and never gets panic.

uneng

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Quote from: dezoel on December 08, 2021, 03:32:40 PM

It is clear that support points do not mean anything. It is clear that we are talking about something that is dangerously fragile whenever we fall, we end up falling all the time and it causes the price to drop under support point without even hesitation. We had a support point recently, we were above 55k and from 55k to 45k we had many support points, what happened with them? Nothing. We broke under them in a few days very easily.

The only silver lining about this situation is that we are talking about resistance points as well, they are just as much fragile and whenever we want to move up, there is nothing that is stopping us there neither and we can increase very easily.

For a while those support levels meant something, but from the moment the market became unstable on, those levels have been broken and now it will take a while until we see new solid support in bitcoin price. At least this kind of interpretation helps us to identify how bitcoin is doing on short run and what its tendencies are. At this moment the market is somehow volatile, although nothing too bad as it was already seen years ago.

Today bitcoin bounced back to 48,000$ and in less than 3 hours later it was already hitting 51,000$ again! That is pretty interesting, but we still need to wait until we can classify a new range of price as support level here.

STT

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Support does have some meaning but its never absolute or exact. The whole process of TA is dismissed by many but its useful guide to me personally to gauge strength and how bullish I should be.

Ok so the low here is the trend downwards from the peak. Staying above that level means I think we should remain positive to neutral in our outlook. That would be about 48k or above roughly, more obviously the lows of the sell are at around 47k. 52k is momentum of a weekly average, staying above that shows good positive inertia.
My general take is neutral for this year, 2022 to develop with greater magnitude.

dezoel

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It is clear that support points do not mean anything. It is clear that we are talking about something that is dangerously fragile whenever we fall, we end up falling all the time and it causes the price to drop under support point without even hesitation. We had a support point recently, we were above 55k and from 55k to 45k we had many support points, what happened with them? Nothing. We broke under them in a few days very easily.

The only silver lining about this situation is that we are talking about resistance points as well, they are just as much fragile and whenever we want to move up, there is nothing that is stopping us there neither and we can increase very easily.

magneto

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I actually think that the support at $50k is quite weak right now.

It is obvious that the bearish sentiment has been piling on for the past few weeks and that is completely expected given the halving cycles of BTC.

Just don't panic and continue to DCA because the bull run will resume sooner or later.

South Park

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Quote from: uneng on December 03, 2021, 01:33:02 PM

I don't think we are in a bearish market, because we are constantly reaching close to the ATH every few days, that also matches the resistance level. If it were a bearish market we would have seen a deep crash in bitcoin price with a much lower resistance level than the currently one. Days ago I saw resistance was around 59,000$, then 57,000$ and now 55,000$. That looks good for me and it is a possible signal bitcoin can surprise everyone positively at any moment rising to an inedit ATH. December is a good month for bitcoin, so I'm hopeful bitcoin can make it before the end of the year.

The conditions of the market are too extreme to make any kind of short term prediction about the direction of the price, we suffered a fast correction only to have a rapid recovery, I think that what we are seeing is the result of whales manipulating the price to try to force traders that are using leverage to get margin calls and then they could buy cheap coins when the price corrected itself, and while this is not what we want to see at the same time the fact that those coins are now with stronger hands means that the chances bitcoin goes up during the next months is higher than what it could be otherwise.

STT

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There has to be consensus for a genuine turn around, I dont think BTC is just a victim of the wider market selling its also its own speculative cycle that saw some weakness.
Right now its breaking past the 2 day average which I see as a good bullish break above 49k if it can keep onto the larger weekly average at 54k that would be a good positive sign of recovery.

btc_angela

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Quote from: Slow death on December 06, 2021, 03:50:22 PM

Quote from: uneng on December 06, 2021, 12:55:23 PM

The most recent news regards the new coronavirus omicron variant are positive for the market, since it was said although the transmission rates are high, it's not being responsible for serious cases among infected people. Specialists and politicians are satisfied with this possibility they have been observing so far and now I just expected the market answers positively to this, including crypto currencies' market.
Actually, I'm happy to see bitcoin almost reaching to 50,000$ again after the bloodbath we had in the previous days. That still makes me believe we aren't in a bearish season and that bitcoin still has potential to hit a new ATH before 2021 finishes.

I don't trust governments very much when they are very optimistic, it's too early to say that the omicron variant does not cause serious cases, it doesn't even have two months to get a better view of the consequences of this variant so I think it's premature to stay optimistic as some governments are, at least in my country the number of cases has increased a lot in recent days and hospitalizations, I don't know if this is due to this variant.

There are reports that the Delta variant is still more predominant that Omicron right now, so maybe that's what infected the majority in your country and not the new one.

Not saying that we should trust the government, but there are studies independently that shows the vaccine is still very effective even in this new strain so I guess we are all good. And hopefully this will translate to bitcoin market having a good recovery before the end of the year.

Slow death

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Quote from: uneng on December 06, 2021, 12:55:23 PM

The most recent news regards the new coronavirus omicron variant are positive for the market, since it was said although the transmission rates are high, it's not being responsible for serious cases among infected people. Specialists and politicians are satisfied with this possibility they have been observing so far and now I just expected the market answers positively to this, including crypto currencies' market.
Actually, I'm happy to see bitcoin almost reaching to 50,000$ again after the bloodbath we had in the previous days. That still makes me believe we aren't in a bearish season and that bitcoin still has potential to hit a new ATH before 2021 finishes.

I don't trust governments very much when they are very optimistic, it's too early to say that the omicron variant does not cause serious cases, it doesn't even have two months to get a better view of the consequences of this variant so I think it's premature to stay optimistic as some governments are, at least in my country the number of cases has increased a lot in recent days and hospitalizations, I don't know if this is due to this variant.

fullhdpixel

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Quote from: Silberman on December 06, 2021, 10:39:59 AM

The two scenarios are not necessary mutually exclusive, whales are very smart and they know how to take advantage of every single opportunity they get, it is possible they saw the announcement of the new strain of the virus and they remembered what happened more than a year ago in this market and in the traditional markets and they took advantage of the FUD this was creating, making a lot of profits in the process and multiplying their capital in a significant manner in just a few days.

This is most probably what happened. It is quite possible that we are talking about whales manipulating the market in any way they possibly could, after all that is what whales do but we do not have to follow them, we could wait it out and thankfully I have been doing just that.

The clearest reason why it is obvious whales manipulated the market is the simple fact that variant was found days and days before the fall happened, if it was due to that variant for some reason (which shouldn't even matter) then we wouldn't be able to wait that long before we start to fall. So to me it is clear that we are talking about a manipulation here if it reacted that lately.

Pamadar

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Quote from: uneng on December 06, 2021, 12:55:23 PM

The most recent news regards the new coronavirus omicron variant are positive for the market, since it was said although the transmission rates are high, it's not being responsible for serious cases among infected people. Specialists and politicians are satisfied with this possibility they have been observing so far and now I just expected the market answers positively to this, including crypto currencies' market.
Actually, I'm happy to see bitcoin almost reaching to 50,000$ again after the bloodbath we had in the previous days. That still makes me believe we aren't in a bearish season and that bitcoin still has potential to hit a new ATH before 2021 finishes.

14% down from the previous week, still manageable once buyers start to realize that this sale price will give them good potential to earn

more, we don't know how long this bloodbath will continue and how the condition will change up, the best thing to do now is to observe and plan your investment, don't rush and do all the necessary research before placing your money inside the market.

Topic: Bitcoin resistance and support price - page 4. (Read 977 times)