Having stuck at 57k again shows that bitcoin is not ready for a full on bull run, but it is not ready for a drop neither. I do not know what I could say what could happen but the reality is that we could possibly end up with something that is much higher if we could simply break over the real trouble price. Every time we go up, there is a reason to draw back and that sort of what will happen again if we fail to keep going up.
I get that support price or resistance could be broken, that is why they are there and they should be broken otherwise we would just get stuck at a price and would never move at all, but sometimes it is harder than others, such as right now for example.
Topic: Bitcoin resistance and support price - page 6. (Read 977 times)
The price that fell days back have got recovered. As the price of bitcoin have crossed $58k it'll test the market to cross $60k. If the price of bitcoin stabilize within $60k it would make ath. By the time there is also chances of decline in the market upto $50k based on the market move.
I know that the market will be bullish, but my confusion is only in short time...
You messed up with the quote, you are quoting me, and in fact that sentence is part of your post, please edit it.
You have a problem because you don’t understand how the market works and you act like a small fish that doesn’t know which way to go in an attempt to avoid big fish. Unfortunately, if you play in the short run, big fish will catch you in most cases - and the way to avoid that is to hold and sell only what you need at a given time.
Nobody can get if it is a bear trap in a way bitcoin will fall to certain price and some people decide to sell and lose but then bitcoin price start to increase. Even been a trader, I never have that characteristics of selling when I am losing already, most of my holding is still in bitcoin, even having the plan to buy more if the price fall to certain price so I can add to my holdings cheaply.
No one can say for sure, but those who bought a dip yesterday could already profit 5%. You haven't defined what you consider a cheap BTC, but if you're waiting for $30k or a lower price, you need as much as 50% lower prices than the current one - and I don't know what could be the trigger for something like that in the coming months.
But we just had another spike though again this weekend to $56k and counting up. So maybe this is a good bounce or weak one. But it's the start of the asian market right now so I'm expecting that the price will not go down to $53k-$54k.
Probably in the middle ground again, both sides (sellers and buyers) are waiting for any move from each other. But the month is almost over now, hopefully December will be a different one and it will remain bullish.
Mmhmm. Saw there was even a bounce up above 58k as soon as Beijing/Tokyo markets opened for business (8am +8GMT) but it's since tapered off to retain almost exactly the same price this time Sunday. Not long more to Monday morning for Europe and then today, everyone's expecting the strongest retail numbers globally. Not that it's going to prop Bitcoin markets but can't hurt to have some confidence in regular markets on a Monday.
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?
I know that the market will be bullish, but my confusion is only in short time, about long time I am specific and the prediction is right for everyone that know bitcoin price will increase, it is sure that bitcoin price will increase in long time but it can be long. I am thinking if this will be the best or not but yesterday price was good, bitcoin increased from $53700 to over $58000 but that does not mean bearish market may not continue during the week, the end of weekend are always bullish than bearish.All what is happening in the last month gives the right to those who talk about the bear market all year round, but what if it's just another bear trap before the new pump?
Nobody can get if it is a bear trap in a way bitcoin will fall to certain price and some people decide to sell and lose but then bitcoin price start to increase. Even been a trader, I never have that characteristics of selling when I am losing already, most of my holding is still in bitcoin, even having the plan to buy more if the price fall to certain price so I can add to my holdings cheaply. 
BTC is still repeating itself, revising prices is not especially negative action.
Its recovered to back within earlier November pricing however it still remains to prove itself as having lost its negative pattern of lower highs and declining lows. We are back above the weekly average but below the 50 day average, I would probably wait for that measure to become the low once again rather then its present ceiling before concluding we are once again positive appreciating in BTC market (>60k ish till then caution).
Its recovered to back within earlier November pricing however it still remains to prove itself as having lost its negative pattern of lower highs and declining lows. We are back above the weekly average but below the 50 day average, I would probably wait for that measure to become the low once again rather then its present ceiling before concluding we are once again positive appreciating in BTC market (>60k ish till then caution).
Seems the $50,000 is the major support on this level. We keep bouncing from that area, that's why I am really confident that we will still not fall to that level until the end of this year. With the recent bounce of Bitcoin, bears just got rekt every time they short the market.
The monthly candle is about to close for this month, I am hoping we will do sideways above $50,000 next month.
The monthly candle is about to close for this month, I am hoping we will do sideways above $50,000 next month.
Could be. You are in panic and you might want to control the decision you will make from now on.
Calm down a bit, think back. Use the history of Bitcoin and never fall for FUD that are being spread around.
Are you a short-term holder or a long one? Because the price may flow back and forth in this ber months of the year which had been normal in the market of Bitcoin. Remember, the expectation for a December madness for the lightning to strike back is still going on.
a lot of people are waiting for that last pump before the end of this year, it is concerning to me because maybe it is the only reason people are holding on to dear God waiting for it and what will happen after that ? after bitcoin stays the same way it is right now around 55k in the last days of the year ? This is pretty concerning to me. Calm down a bit, think back. Use the history of Bitcoin and never fall for FUD that are being spread around.
Are you a short-term holder or a long one? Because the price may flow back and forth in this ber months of the year which had been normal in the market of Bitcoin. Remember, the expectation for a December madness for the lightning to strike back is still going on.
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?
$60k is too early to sell my friend. Wait for it until it reaches 6 digit figure. Bitcoin is close to hitting that one.
The one thing that most of weak hands and new investors are afraid of is the bearish season, and we haven't experienced that yet after Bitcoin pumped from $15,000 to $60,000+.
Nevertheless, even when Bitcoin experience a worse bearish run (like 2018), there's nothing much to worry because Bitcoin always bounce back stronger. We've witnessed that many times right?
One thing I can say is, it's too early to be thinking about selling this year or early next year. At least hodl till $100,000.
Don't worry too much about the Bitcoin price drop now, after all, the current price is still high when compared to the previous year's Bitcoin price.
I agree it's too early to think about selling Bitcoin right now, all we have to do now is collect as much Bitcoin as possible. So when Bitcoin goes up
we can make big profits, only weak hands think of selling Bitcoin right now. I, like you, will continue to hold Bitcoin until it reaches its target
price of $100k, no matter if it will be achieved this year or next year. Most importantly the price of $100k must be reached, I think so,
because often Bitcoin always bounces back to a higher price every time the price drops.
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?
$60k is too early to sell my friend. Wait for it until it reaches 6 digit figure. Bitcoin is close to hitting that one.
The one thing that most of weak hands and new investors are afraid of is the bearish season, and we haven't experienced that yet after Bitcoin pumped from $15,000 to $60,000+.
Nevertheless, even when Bitcoin experience a worse bearish run (like 2018), there's nothing much to worry because Bitcoin always bounce back stronger. We've witnessed that many times right?
One thing I can say is, it's too early to be thinking about selling this year or early next year. At least hodl till $100,000.
There is no support at $50K, it’s just a nice psychological number and most likely won’t mean much. It’ll either find support right above or right below.
We got some support at $53k which looks like it might hit in a few hours and more at $48K area. Both were previously resistance areas. Currently Bitcoin looks very weak and I think it will break the $53K because bounces are very weak.
We got some support at $53k which looks like it might hit in a few hours and more at $48K area. Both were previously resistance areas. Currently Bitcoin looks very weak and I think it will break the $53K because bounces are very weak.
Yup, judging from this week and last, that support's firmly at 53k, not even at 55k as the next natural psychological number would be. The bounces have been weak yes, but also not as sharp (which suggests to me there's really people patiently waiting for larger dips to shovel in all their buys).
But we just had another spike though again this weekend to $56k and counting up. So maybe this is a good bounce or weak one. But it's the start of the asian market right now so I'm expecting that the price will not go down to $53k-$54k.
Haven't really taken a look at orderbooks lately but I suspect everyone on both sides are hiding their cards til the November funk's over.
Probably in the middle ground again, both sides (sellers and buyers) are waiting for any move from each other. But the month is almost over now, hopefully December will be a different one and it will remain bullish.
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.
so you have to be prepared for all the headache you will have every time the price drops a lot and it takes a long time to increase
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.
how do you think people felt when the price was less than $20,000 and then it dropped to $3000? they said the price would never go up, but the price went up to $69000
I see Op like expressing regret at the moment for not selling the little Satoshi he has in his wallet before the drop and that is giving concern 
not that he/she doesn't know that price will bounce back above $60k and more maybe within this year or next.
My advise to anybody caught in this season of unprepared or expected drop is to see their hodling as long time investment and with that they won't bother themselves on price by constantly checking on their wallet.
Another advise is that they may not see a huge bear market like in 2018 to 2020, times are different now.
Not only "wait until it goes back up" but honestly it is clear that we could also have a situation where we could buy more and still profit a lot. I am not saying that we won't be going down anymore or just go up straight so high, all I am saying is that "one day" that will happen so why lose time waiting on better and better deals? When you sell bitcoin at 1 million dollars, do you really believe that buying at 52k or 42k would make so much difference for you? I mean yes financially there will be difference but you will be rich all the same. not that he/she doesn't know that price will bounce back above $60k and more maybe within this year or next.My advise to anybody caught in this season of unprepared or expected drop is to see their hodling as long time investment and with that they won't bother themselves on price by constantly checking on their wallet.
Another advise is that they may not see a huge bear market like in 2018 to 2020, times are different now.
So, I would say that it is a lot easier if we could end up with something better by buying right away instead of waiting. I am still throwing some money into it every single month, I do not even look at what the price is and buy accordingly, I buy it as soon as I have money to buy and that's it, nothing more.
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?
yup probably bitcoin had strong support right now since El Salvador bought at the deep as well and for sure there's a bunch of investors accumulating after reading that news, because obviously bitcoin suddenly formed a consolidation at the support level. So if it breaks out above then bitcoin will not going down for long time, just keep holding mate and wait for more results..
You know how technical analysis is exactly. There can be support at $53K, or at $50K or at $48K and its also very possible that none of those supports can hold. Right now I am looking at funding data and it seems people are buying every dip when the bounces are VERY weak and I see a cascading liquidation on the near horizon. If you want to long you can long but you need confirmation first somehow.
One good confirmation is if the funding starts to turn negative and price fails to go lower. This happened twice in the past year. Once when we were at $30K and another time when we were at $40K. If you bought then you would of had an excellent R/R and nobody predicted that those areas would be the bottom.
When we were at $30K, people were calling for $20K as the bottom and it never happened.
One good confirmation is if the funding starts to turn negative and price fails to go lower. This happened twice in the past year. Once when we were at $30K and another time when we were at $40K. If you bought then you would of had an excellent R/R and nobody predicted that those areas would be the bottom.
When we were at $30K, people were calling for $20K as the bottom and it never happened.
I think there's no certain support at this current price level since I am still bullish so Bitcoin would bounce back again above $60k. In the meantime, let's just enjoy this dip and buy more since every dip is an opportunity and besides, it's not yet bear run it's just a bear trap the way I see it. The only resistance I want Bitcoin to break is the $70k but not it's going to break the $60k first before going to bed break another so that Bitcoin could attain a new ATH price this year. Mid-December should decide whether it's a bear or bull before the year ends.
There is no support at $50K, it’s just a nice psychological number and most likely won’t mean much. It’ll either find support right above or right below.
We got some support at $53k which looks like it might hit in a few hours and more at $48K area. Both were previously resistance areas. Currently Bitcoin looks very weak and I think it will break the $53K because bounces are very weak.
We got some support at $53k which looks like it might hit in a few hours and more at $48K area. Both were previously resistance areas. Currently Bitcoin looks very weak and I think it will break the $53K because bounces are very weak.
Yup, judging from this week and last, that support's firmly at 53k, not even at 55k as the next natural psychological number would be. The bounces have been weak yes, but also not as sharp (which suggests to me there's really people patiently waiting for larger dips to shovel in all their buys).
Haven't really taken a look at orderbooks lately but I suspect everyone on both sides are hiding their cards til the November funk's over.
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.
You are in deep doubt and in conflict with yourself, because first, you believe that the price will increase again, and then you think that it will never increase over $60k? At some point you have to decide what you really think and what move you will make, no one will do it for you.
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?
I would agree with the previous comments that support does not exist on some round numbers that everyone takes as an example, but that we must accept that at any time the price can go 5-10% in any direction. Bitcoin has shown countless times that it depends on other markets and shares their fate in a greater or lesser percentage.
All what is happening in the last month gives the right to those who talk about the bear market all year round, but what if it's just another bear trap before the new pump?
I see Op like expressing regret at the moment for not selling the little Satoshi he has in his wallet before the drop and that is giving concern not that he/she doesn't know that price will bounce back above $60k and more maybe within this year or next.
My advise to anybody caught in this season of unprepared or expected drop is to see their hodling as long time investment and with that they won't bother themselves on price by constantly checking on their wallet.
Another advise is that they may not see a huge bear market like in 2018 to 2020, times are different now.
not that he/she doesn't know that price will bounce back above $60k and more maybe within this year or next.My advise to anybody caught in this season of unprepared or expected drop is to see their hodling as long time investment and with that they won't bother themselves on price by constantly checking on their wallet.
Another advise is that they may not see a huge bear market like in 2018 to 2020, times are different now.
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?
You think the price will increase back to 60K or you think that the price will never increase back to 60K?
Your post sounds confusing.Are you panicking or something?A 10% price drop is no reason for panic.
I don't think that this is the beginning of a bearish market.It's more like a short term market shock,caused by negative news about Covid,combined with the lack of bullish support to push the price up.When there's no bullish support(lack of enough buy orders on exchanges) any selling pressure(it doesn't matter how small it is) leads to a price drop.There was a wave of automatic stop loss orders,which leads to increased selling of BTC.
BTC futures also have a small role in dropping the BTC price.
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