Topic: Bitcoin to 30k Range again (Read 674 times)

I believe that the price of cryptocurrency is being determined through the demand and supply of it in the market, the price is going up and down because of the determinant of supply and demand. I will agree with you because the price is what triggers investors to join the market. But when the market is going down, the new investors skip of purchasing bitcoin for long hold

Basically we're in a pullback of the recent positive action and how far that pullback can go is something to watch.  Ideally we dont want it to continue too far because they we will have negated the overall idea of a recovery in BTC.   For the moment in a larger picture all we did was meet the 50 day average and follow its negative decline and this reflects the prior negative action this year, this is ok and to be expected.
  I do hope we can start to see something positive occurring before or around 22k and that will give hope of returning back nearer to 30k.   What will disappoint many is we are slower then they hoped, what they are used to in a BTC bull market.   We can rise even without the hype, its still valid but more different to stay positive both price and personally

I do agree that there will be some sort of situation where 30k will happen not too quiet later than right now. It won't be that hard, but it will be certainly something we won't be having any trouble with neither. We just need to realize that the life we are having right now is not something special, it's 30k and it would be ordinary.

People are making a big deal out of a possible 30k, when in fact it is not a big deal at all. It's 100k that we should care about, that's a "big" change, even if we go back to 68k ATH prices, that would be good for people who bought low, or people who hold, but it won't be a huge new ATH that could be considered hype, it's normal. So, do not get excited about 30k at all.

If you look at the trend for this week I am optimistic that the price of $ 30k will be achieved in the near future, maybe the end of July or early August, before $ 30k happens then the best thing is to immediately buy, if we buy at this current price around $ 23k then we can profit More than 30% if the price of Bitcoin has returned to $ 30K.

Despite getting rejected prior to $25K, the current correction isn't exactly bearish yet. Breaking below $22K horizontal support would likely bring prices down to $21K, but at least there is support to the downside unlike previous short-term rallies. Even at present price could find support from the 200 WMA where price is at now ($22.7K), after already breaking 6% above this level, showing it's not as strong resistance as it previously was. Overall, a sharp correction to support is a lot more positive than continually failing to break through resistance levels and drifting lower (as has been the case with previous short-term rallies).

None of the short-term price action has changed the longer-term bullish factors, such as a Pi Cycle bottom signalling as well as Weekly RSI leaving oversold conditions. At the moment this is simply a case of "nothing goes up in a straight line", and a correction after a 28% pump in recent days all being very healthy for price. While some people will be panicking, others will have their buy orders at relevant support levels, anticipating a continuation of the current uptrend, especially when at the moment there appears to be mild selling / profit taking as opposed to outright rejection at higher levels.

I'll happily change my tune if price drops below $22K and $21K fails as support, then a re-test of upwards trending support around $20K will start to look bearish again.

Yep, but that's just 3 days though, we didn't even get to $25K as the price goes down again. Maybe there is a huge selling pressure hitting the magic number of $23K-$24K.

I like to be optimistic, but I still see that this might be 'catching a falling knife' scenario. And with that, I don't see the price going back to $30k not this month at least. Too many news like the war and then Musk selling his stash of bitcoin might affect the price in the next 24 hours.

If I'm not mistaken, we almost hit $24k or hit it already, but then again the market is suffering another down side as it is close to $23k or even lower.

And it's good to see this thread again, however, there are still a lot of psychological barriers that we need to conquer next specially $28k . So it will take a lot of money again and we don't know where it will be coming as the world is on the recession and investors are not very keen on investing on any, not just crypto market.

the climb stops now

https://coinmarketcap.com/currencies/bitcoin/

from increasing for several days?  now it starts lowering again and yes this is something that we need to look at .

what is important now is that we have our funds on hold? and we are already having funds ready to buy more when dumps happens.

OP looking like crypto savant in prospect right now.   If we can break this area where 200 week resides it seems fair we do move far closer to 30k but I think 27k is an obvious area where we first encounter some selling and prior holders who now wish to hold into the recovery as prior volume often represents.   We move sideways in this area quite recently but up until then its clearer, for the moment its not yet clear we are clear of the 23k area and its pulling back slightly imo remains in a bullish pattern

The price that is nearing $24000 is a big price compared to the price it fell month back. If bitcoin is able to cross $25k, then we can discuss about it. For now $30k range isn't an achievable price for the short term. The altcoins market that was against the Bitcoin market needs to be pushed hard.

many also predict like you my friend that a recovery will occur in Q4 this year, but I've also read from some analysis that this year there will be no significant changes in bitcoin's movement and will remain in the $30K range, will start to move upwards to occur in next year and it's also moving slowly.

I agree mate, it's just a matter of time and bitcoin will reach to increase according to what has been done so far. where if there is a decrease it will be accompanied by an increase, in time, but when? I predict maybe after the next halving, there will be a renewable ATH, so be patient.

I believe its matter of time. We are getting there pretty soon and we are going to see crypto do a lot better. Of course its going to be a bit more down the road and not tomorrow, but we are closer to it than ever. If we consider the last peak of 68k happening in october, I can say that we are going to see it quicker than that, its not going to take another 8 months to reach to 30k again. I feel like its going to be Q4 of this year for sure. Can't give a guaranteed result right now, but I can say that its definitely going to be sooner than what we have been waiting for and that means we are over the hill and its easier from here on out.

Aside from that, the bankruptcy declaration of Celsius might also affect the Bitcoin market sentiment.  Since it is negative news, it gives weight to Bear Market thus we might experience a bit bitcoin sell-off due to the fear that this Celsius event will affect the Bitcoin Market and thinks that shorting may give them a bit of profit for the next days' trend where BTC price taking another dip.

Bitcoin chances of rising to thirty thousand is at stake currently because when you looked at the chart of the map you can see bitcoin is still adamant of increasing and instead of moving forward and it's decreasing from the process bitcoin nobody knows the rightful time to understand the concept of buying is now. Some people don't  want to buy now but expecting to buy when it's low

Not looking probable until we break above 21k area as that coincides with momentum indicated by weekly moving average


blue is weekly and yellow is monthly average with 50 day above that.  Once we get all those averages below the price action and we are also regularly making higher lows then its time to be more confident.  I assume sideways with possible negative resets until we are able to jump start some positivity.

Update for bitcoin price as we can see that Ichimoku Indicator show short, the MACD, Stochastic also indicating to short the RSI still below 50 meaning still short (*note 1 hour chart) the local support is 21.2 K



I hope the 30K range will reach up soon   if we can bounce back from 21K

Was OP a bit of a prophet on this calling it so early.   Seems like the main conclusion since 21st June has been we go sideways, allowing both sides of the order book to cling onto their assumption we can move up or down.      I think we attempt both and in the failure find strength in the opposite direction.   We have not really properly attempted a higher price yet so I wait for that but its too early to say we are done being negative, its hard to believe as the overall market is teetering after so many blows.
   Every day the 50 day average comes closer to touching the price action, thats our cue I reckon.  Its strong enough to knock us off the rails and cause some proper action to occur.

Yes, soon but we can't know the time for sure when as we don't really know when would this bear trend ends. But since we're already optimistic about it, might as grab as many patience while hodling it. As of now, it's still below $22k but the market is pumping for the past 12 hours and I think that's a good reason for us to wait for its recovery. Nevertheless, $25 or $30k, there will be always an investor that will decide to buy or dump.

Do you mean the low volatility give it more chance to increase than decrease? Since it is more stable compared to before and investors are likely to wait for a bull signal to be back in aka strong chance for FOMO. I think this scenario could only be possible if FED stop their shenanigans and no surprise news about Covid's latest variant or the ongoing war conflict between Russia and Ukraine. Too many variable factors to be accounted for.

Two weeks is not much time to recover, especially after such a hard fall. However, a new week has started today and we are seeing attempts at growth, although earlier weeks started with a fall. Maybe this time we will see green on the chart. Especially encouraging is the start of a new month, which might set a new trend.