20k a big round number, that alone could wake up a few buyers but I dont think we have high volume this particular Monday. Its only the high volume events that really give us the best directional clue as to where we are heading otherwise we tend to drift a bit in speculation ping pong back and forth. Either that or take the weekly bars and be prepared to wait around alot meanwhile.
We are back above the 2 day average but thats a very fast arbitrary measure, better to take the running weekly average for a sign of some strength that can last with some good inertia. Last attempt was Friday and we failed with volume there, so now dont be too confident till we regain 21k and hold that price as a low. We keep above weekly then 50 day average and it can start to develop into a positive market, I think we remain mostly neutral resolving sellers across this range of prices and yea not really Mt. Gox so much as just general market pressures.
Topic: Bitcoin Resisting the below twenty thousand level - page 3. (Read 532 times)
I feel the same way and have expressed it in other threads about the price. The current price is cheap and we are going to see it in a few years, where many people will regret not having bought at 20,000 USD. If the price goes below that level it is going to be a bargain, and that is why I think it will not last long at those levels. As much as there are people who, when the price pierces lows, panic that it will go lower, there are a lot of people with money who know that price is a bargain and it is worth buying before it recovers.
Unfortunately people do not understand the value of bitcoin at around 20k and lower. They consider it as a bad thing that bitcoin went low but they do not realize that we are talking about something that is amazing for all of us right now.I mean when will be another time that we will reach 20k or lower? With some time we will never come back to these prices ever again and people are not realizing the potential profit that they are missing right now. I would highly suggest that the best thing to do right now would be making sure that we end up with a good profit if we can buy now, and anyone who doesn't see it will %100 surely regret it in the long term.
and this is why they do really choose up on holding and they are minding on increasing price every now and then which they do forget that a market does have pumping and dumping state.
I feel the same way and have expressed it in other threads about the price. The current price is cheap and we are going to see it in a few years, where many people will regret not having bought at 20,000 USD. If the price goes below that level it is going to be a bargain, and that is why I think it will not last long at those levels. As much as there are people who, when the price pierces lows, panic that it will go lower, there are a lot of people with money who know that price is a bargain and it is worth buying before it recovers.
Unfortunately people do not understand the value of bitcoin at around 20k and lower. They consider it as a bad thing that bitcoin went low but they do not realize that we are talking about something that is amazing for all of us right now.I mean when will be another time that we will reach 20k or lower? With some time we will never come back to these prices ever again and people are not realizing the potential profit that they are missing right now. I would highly suggest that the best thing to do right now would be making sure that we end up with a good profit if we can buy now, and anyone who doesn't see it will %100 surely regret it in the long term.
Usually "resistance" means resisting the growth, and "support" means not letting it fall below certain level. So while saying that Bitcoin is resisting the fall is correct, it sounds weird to people who used to understand resistance as "opposition to growth".
The $20k support is holding well for now, it's clear that there are groups who are interested in defending this important psychological level, but only time will tell if they will fully succeed or not. I wouldn't bet that this is the bottom of the bear market yet.
Knowing how unpredictable the value of bitcoin, no one can really tell if the present value is already the bottom of this bear market as a lot would still happen in the next possible months. Although $20k is much better than seeing its price drop further, but if there will be positive news that will support bitcoin, then there’s no reason that we will see bitcoin falling into its bottom price. The $20k support is holding well for now, it's clear that there are groups who are interested in defending this important psychological level, but only time will tell if they will fully succeed or not. I wouldn't bet that this is the bottom of the bear market yet.
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True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong support level. If the level is broken in the bear's favor, $14k may be in play.And I'd never think about $14k - we have done with the bottom already, that is what I see and this dropping scenario won't take so long
Many bitcoin price analysts forecast a more favorable market for Bitcoin this week, and if all things being equal with the delays in payment of 140,000 Bitcoin to MT. Gox customer's payment which is what caused the panic selling over the last week, but since the payment to customers of the exchange has been delayed with procedure and process of payment and through what exchange has not been made public, we will see more stability for Bitcoin this week since the bottom has already been reached.
At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
Once Bitcoins falls below 19k usd, definitely in the next moment all the people will start buying the coin for which the price will definitely rise up.
This trend has been now seen couple of times from the past few months. So to be honest won’t be surprised anymore by the price.
Nevertheless these are knowingly done by the big whales for their own profits. So it’s always advised to don’t panic and patiently watch the market.
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True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play.And I'd never think about $14k - we have done with the bottom already, that is what I see and this dropping scenario won't take so long.
We are not seeing seeing Bitcoin rejecting hard at 25K and dumping again on 20K support area if bear is already over. Try to view the Bitcoin chart in weekly timeframe and you will notice that Bitcoin is not yet recovering at all but those green candle on previous is just a relief or bull trap because I still don’t see any good news that will back up the bull trend besides some random opinion by twitter influencers stating Bitcoin price already reach the bottom and use Bitcoin rainbow chart as reference on perma bull stand.
A lot of speculation has been ditched out in the last 48 hours since Bitcoin battled to retain the 20 thousand dollars price even though some expect has predicted a more bearish market in the next month, and some others are of the view that the 20 thousand dollars price is the bearest minimum Bitcoin could fall back to.
At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
We have to see that the price always goes up and down, and on the ups and downs it also has its steps like:
- when the price drops a lot it reaches a zone where there are no more people wanting to sell we call it support, whenever the price reaches that zone of great support and does not fall below that we see a price increase. the price starts to go up to where there is a big resistance a zone where people can't buy anymore and they start selling a lot and the price starts to fall a lot until a strong support zone, this is an endless cycle, that's how the market works
so why are we at 20,000$? because the price failed to break the 25200$ and that's why it dropped back to the strong support which is at 19000$. so what's next? the price will try to break the 25200$ again (of course this takes time) and if it succeeds it will go up even more and if it doesn't then it will fall to a support and if that support holds then it will go up again to try to break the 25200 $
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True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play.And I'd never think about $14k - we have done with the bottom already, that is what I see and this dropping scenario won't take so long
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legendary
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True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play.
During a period of decline like now, I don't really care about the problem of falling prices because for me it is still a good opportunity to get Bitcoin on a downtrend like it is today.So if you are not a trader who just buys and sells after seeing a small profit, then get Bitcoin in every period of decline and be patient waiting for the price increase to occur because with that you will get a win through more profits.
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True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play.And I'd never think about $14k - we have done with the bottom already, that is what I see and this dropping scenario won't take so long.
A lot of speculation has been ditched out in the last 48 hours since Bitcoin battled to retain the 20 thousand dollars price even though some expect has predicted a more bearish market in the next month, and some others are of the view that the 20 thousand dollars price is the bearest minimum Bitcoin could fall back to.
At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
True, there is a lot of fear in the market right now, and investors see it as too risky to participate. Personally, I believe we have reached the bottom, but in this market, the unexpected always happens. Because that is the formal resistance level in 2017, $20k appears to be a strong surport level. If the level is broken in the bear's favor, $14k may be in play. At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
legendary
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Given that the rumors in the market are that the mtgox coins are going to be released in the very near future, I think the market has very little chance of holding above $20K. However, that shouldn't scare you because I think the downturn won't be long lived. I believe once the price crashes the fund managers will be racing to scoop up as much cheap BTC as they can before the other does.
I feel the same way and have expressed it in other threads about the price. The current price is cheap and we are going to see it in a few years, where many people will regret not having bought at 20,000 USD. If the price goes below that level it is going to be a bargain, and that is why I think it will not last long at those levels. As much as there are people who, when the price pierces lows, panic that it will go lower, there are a lot of people with money who know that price is a bargain and it is worth buying before it recovers.
A lot of speculation has been ditched out in the last 48 hours since Bitcoin battled to retain the 20 thousand dollars price even though some expect has predicted a more bearish market in the next month, and some others are of the view that the 20 thousand dollars price is the bearest minimum Bitcoin could fall back to.
At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
20k resistance did not stand long because after few days of staying in that position ? now Bitcoin had lost its chance to 20k positioning and now maintaining 19k price.At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
https://coinmarketcap.com/currencies/bitcoin/
But what i have been reading since last week is that bitcoin will plunge to 17k and indeed this is the time to buy more.
There was some MtGox FUD in the last 24 hours or so. Someone stated that on Aug 28th they would release 150K BTC. Then a few of the creditors said its not true. They won't be getting their bitcoins anytime soon. Certainly not on Aug 28th and most likely not for a few weeks.
That and there is also global uncertainty especially with what is going on with Europe and the energy crisis. That and the fed how they are still going to hike and right now are not discussing any fed cuts anytime soon. Most of this will play out when more financial data comes out such as employment numbers and CPI prints.
That and there is also global uncertainty especially with what is going on with Europe and the energy crisis. That and the fed how they are still going to hike and right now are not discussing any fed cuts anytime soon. Most of this will play out when more financial data comes out such as employment numbers and CPI prints.
At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
But at this point when Bitcoin touched the below 20k price yesterday before it quickly reband back to 20k, it shows some resistance level up which points to the fact that 20k is a strong resistance level.
At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
Bitcoin price have come down to $20k and this serves to form new support points. The market had good resistance around $22k, and the sudden fall have made it go down to $20k. With the upcoming week start the market can be more bearish. In simple, it can retest the level of $17k or even lower. Because during the previous down market it is predicted to go down to $12k, but the recovery happened good. This time more events are scheduled and the same might make some bearish movement in the market.
This isn't a new support point for btc because btc have been there last time but anyways, the price have dip yesterday to 19k. I thought it would stay there but I am wrong because today it was back up again at 20k. Dunno what's with this price on why btc likes to hang out here. Next week is going to be the start of the so called ber months.I was expecting something positive within those periods so I disagree about your negative speculations right there. People are done already with the bottom thing so you better move on now. It's your problem already if you missed buying when the price was still lower than 20k but 20k wasn't that bad imo for purchasing.
It's been what is in the discussions on podcasts everywhere and if MtGox coins are distributed, prices will be dragged to $17k.
If podcasts everywhere are so fixated on a point that's so old, and only for a 15% slide in price, well, wow, they've really run out of big bad bear news to slobber over. Fed and global economic news all no longer scare people?
Also, been a while since I spent way too much time looking at price movements on a computer, almost wasted Sunday, just keep thinking it'd either find an unexpected strong bounce back up, or just concede into the slipstream. Couldn't be more finely poised today, even saw 19999 and then 20001 on Google's price watch.
A lot of speculation has been ditched out in the last 48 hours since Bitcoin battled to retain the 20 thousand dollars price even though some expect has predicted a more bearish market in the next month, and some others are of the view that the 20 thousand dollars price is the bearest minimum Bitcoin could fall back to.
At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
The price is barely above 20k but I do not think this situation can continue for long, when we take into account the lack of upward momentum and the panic that will be caused by the influx of coins which will be sold during the next weeks then I think it is safe to assume the price will keep going down for some time, and while disappointing this should be viewed as yet another opportunity to buy bitcoin for a sub 20k price and since I believe this will be one of the last opportunities that we have to do it we need to take advantage of it.At the moment Bitcoin is at a decisive level to either level up or pull back below the 20k dollars level, in the next coming day Bitcoin price will witnesses a lot of volatility we should be prepared for that and make a lot of speculation that can help analyze the market and it grows.
And it's going to be obvious that if the support does not hold then the price will go down to maybe another lowest low. So this is a big mental support and so we will see how the bulls are going to defend it even with the Mt. Gox news or the Fed statement. Of course the opportunity will present itself, nevertheless we don't want another panic sell. I agree that we are in a bull run, but I don't think that we can go lower $17k. That is a huge fall from $69k and I don't think that we need to see -80% history.
It's been what is in the discussions on podcasts everywhere and if MtGox coins are distributed, prices will be dragged to $17k. I couldn't tell whether I'd like that to happen but if the volume of BTC goes all the way to the roof in maintaining the $20K level, I guess a flash dip to $17k will likely happen so hold your stablecoin just to be prepared.
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