Bitcoin to 30k Range again - page 3.

n0ne

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Quote from: Ziskinberg on June 24, 2022, 06:41:54 PM

Quote from: Cryptornd on June 21, 2022, 06:48:30 AM

I Think bitcoin could go toward 30k range again For a relief rally. Then come back to current range or even more dump possible . If btc would go toward 30k range most of investors will sell it again. BTCBTC

Bottom is in when the derivatives market is shorting $BTC into the dirt after the brunt of the spot selling has taken place. i.m.o we are currently in a bottom level. must be make an Uptrend from here. what ever it is this isn't short term game.

We are not getting far from the tragic drops but the positive view that we see this time, it highlights some instances that $30k is really possible. We just hope that this will be no more panic selling and government banning scenarios that affect that trend. We probably see a happy face this time, especially those who bought Bitcoin in the past days when it was just below $20k.

Maybe we have to forget the bottom, I guess we're done already.

Over the past few days the price of bitcoin seems to rise above $21k and then drops down to $20k. This is like the market movement that happened around $28k - $30k before the price drop. Maybe this can continue for some time period before moving to the next step of growth. Maybe through this it can gain resistance for breaking the $25k barrier which will ease the market to reach $28k than $30k.

Ziskinberg

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Quote from: Cryptornd on June 21, 2022, 06:48:30 AM

I Think bitcoin could go toward 30k range again For a relief rally. Then come back to current range or even more dump possible . If btc would go toward 30k range most of investors will sell it again. BTCBTC

Bottom is in when the derivatives market is shorting $BTC into the dirt after the brunt of the spot selling has taken place. i.m.o we are currently in a bottom level. must be make an Uptrend from here. what ever it is this isn't short term game.

We are not getting far from the tragic drops but the positive view that we see this time, it highlights some instances that $30k is really possible. We just hope that this will be no more panic selling and government banning scenarios that affect that trend. We probably see a happy face this time, especially those who bought Bitcoin in the past days when it was just below $20k.

Maybe we have to forget the bottom, I guess we're done already.

dragonvslinux

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Quote from: fzkto on June 24, 2022, 11:54:46 AM

Quote from: dragonvslinux on June 24, 2022, 11:33:30 AM

Quote from: fzkto on June 24, 2022, 06:10:21 AM

Quote from: Charles-Tim on June 21, 2022, 06:56:34 AM

This is just a short term speculation, it is possible that if bitcoin price rise to $28000 or $30000, there could still be selling pressure at that point which could plummet the price down back to $20000 or below. But this period will favour buyers that have long term ambition to hold, there can be volatility within certain range, but all-time-high would not likely take more than 3 years from now.

Note that you are talking about a 50% increase, which in the current bear market situation is very high. I don't deny that such a rise could happen smoothly, within a few weeks or even months, but so far I don't see the reasons for that. Unless the bear market ends and the bull run returns.

The bull run doesn't have to return to see a 50% increase, remember in 2019 when price rose from $4K to $14K? That was all in the context of a broader bear market, with price making a lower high and then collapsing back down to $4K again. I'm not suggesting a 300% increase this time around, as price hasn't fallen as far, but the equivalent dead cat bounce from here to the 0.618 fib retracement would be around $50K.

I'm not even suggesting the bottom is in here, or the bear market is over, this depends more on what happens around $30K when price returns there. Just that many are overlooking what a continuation of a bear market looks like, even if price doesn't make a new low, and it would look like price rebounding to $50K before dropping back down to $25K by the end of the year or sometime next year (12 month later).

Even if price did drop to $12K, the expected dead cat bounce within a bear market to the 0.618 retracement would still be around $48K, as the percentages don't change that much.

Just now a 50% bounce sounds very unrealistic to me. First we need to at least consolidate above the key 22-23k level and then talk about a bounce to 30k. But so far the situation doesn't remind me of 2018, 2020 or 2021. The only similarity is that bitcoin is falling heavily, but before there was no global crisis and now there is. So it seems to me that there is still some way to drop.

For sure I agree price needs to get back above $23K first, but given how oversold Bitcoin is on a Weekly scale, bouncing back to $30K without consolidation would be typical for bear market continuation. That of price attempting to leave oversold levels, getting rejected, then returning to oversold levels. Not to mention re-testing the long-term (18 month) support level of $30K and turning it into resistance.

Quote from: fzkto on June 24, 2022, 11:54:46 AM

I don't believe in Fibonacci, I don't even understand what it is and why the price should go there.

It's based on "dead cat bounce" theory. The higher the cat falls from, the higher the cat bounces (not literally, but that's the general theory). The reason I use fib retracement is because in bear markets price usually re-tests 61.8% of the downside that has been achieved, before continuing lower or otherwise consolidating etc. At least in 2016 (@ $800), 2019 (@ $14K) and 2020 (@ $10K) this is exactly what happened.

It's just normal that's all

fzkto

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Quote from: dragonvslinux on June 24, 2022, 11:33:30 AM

Quote from: fzkto on June 24, 2022, 06:10:21 AM

Quote from: Charles-Tim on June 21, 2022, 06:56:34 AM

This is just a short term speculation, it is possible that if bitcoin price rise to $28000 or $30000, there could still be selling pressure at that point which could plummet the price down back to $20000 or below. But this period will favour buyers that have long term ambition to hold, there can be volatility within certain range, but all-time-high would not likely take more than 3 years from now.

Note that you are talking about a 50% increase, which in the current bear market situation is very high. I don't deny that such a rise could happen smoothly, within a few weeks or even months, but so far I don't see the reasons for that. Unless the bear market ends and the bull run returns.

The bull run doesn't have to return to see a 50% increase, remember in 2019 when price rose from $4K to $14K? That was all in the context of a broader bear market, with price making a lower high and then collapsing back down to $4K again. I'm not suggesting a 300% increase this time around, as price hasn't fallen as far, but the equivalent dead cat bounce from here to the 0.618 fib retracement would be around $50K.

I'm not even suggesting the bottom is in here, or the bear market is over, this depends more on what happens around $30K when price returns there. Just that many are overlooking what a continuation of a bear market looks like, even if price doesn't make a new low, and it would look like price rebounding to $50K before dropping back down to $25K by the end of the year or sometime next year (12 month later).

Even if price did drop to $12K, the expected dead cat bounce within a bear market to the 0.618 retracement would still be around $48K, as the percentages don't change that much.

Just now a 50% bounce sounds very unrealistic to me. First we need to at least consolidate above the key 22-23k level and then talk about a bounce to 30k. But so far the situation doesn't remind me of 2018, 2020 or 2021. The only similarity is that bitcoin is falling heavily, but before there was no global crisis and now there is. So it seems to me that there is still some way to drop. I don't believe in Fibonacci, I don't even understand what it is and why the price should go there.

dragonvslinux

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Quote from: fzkto on June 24, 2022, 06:10:21 AM

Quote from: Charles-Tim on June 21, 2022, 06:56:34 AM

This is just a short term speculation, it is possible that if bitcoin price rise to $28000 or $30000, there could still be selling pressure at that point which could plummet the price down back to $20000 or below. But this period will favour buyers that have long term ambition to hold, there can be volatility within certain range, but all-time-high would not likely take more than 3 years from now.

Note that you are talking about a 50% increase, which in the current bear market situation is very high. I don't deny that such a rise could happen smoothly, within a few weeks or even months, but so far I don't see the reasons for that. Unless the bear market ends and the bull run returns.

The bull run doesn't have to return to see a 50% increase, remember in 2019 when price rose from $4K to $14K? That was all in the context of a broader bear market, with price making a lower high and then collapsing back down to $4K again. I'm not suggesting a 300% increase this time around, as price hasn't fallen as far, but the equivalent dead cat bounce from here to the 0.618 fib retracement would be around $50K.

I'm not even suggesting the bottom is in here, or the bear market is over, this depends more on what happens around $30K when price returns there. Just that many are overlooking what a continuation of a bear market looks like, even if price doesn't make a new low, and it would look like price rebounding to $50K before dropping back down to $25K by the end of the year or sometime next year (12 month later).

Even if price did drop to $12K, the expected dead cat bounce within a bear market to the 0.618 retracement would still be around $48K, as the percentages don't change that much.

onecall123

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Quote from: fzkto on June 24, 2022, 06:10:21 AM

Quote from: Charles-Tim on June 21, 2022, 06:56:34 AM

This is just a short term speculation, it is possible that if bitcoin price rise to $28000 or $30000, there could still be selling pressure at that point which could plummet the price down back to $20000 or below. But this period will favour buyers that have long term ambition to hold, there can be volatility within certain range, but all-time-high would not likely take more than 3 years from now.

Note that you are talking about a 50% increase, which in the current bear market situation is very high. I don't deny that such a rise could happen smoothly, within a few weeks or even months, but so far I don't see the reasons for that. Unless the bear market ends and the bull run returns.

The same thing I thought. The trend line needs to be broken to determine if it has been broken. That definitely feels like it. I am more bullish when I hear any positive news. However, I still believe this is a bear market rally. There is no way for us to tell if it will work that way, but we can hope.

Fundamentals Of

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Quote from: Lucius on June 23, 2022, 09:03:55 AM

Quote from: Fundamentals Of on June 21, 2022, 10:57:56 PM

$30,000 is too high before the selling continues. For the past days it seems the selling resumes as soon as the price bounces back a little, to even as low as $21,000 or $22,000. This doesn't look good at all. It seems the sellers cannot anymore wait for the $25,000 or $30,000 levels to be reached before they will continue with their thing. Does this mean Bitcoin's price still has a bigger room to fall? In any case this is indeed a long term game. And I'm in.

Does it remind you of something from the recent past? The same thing happened when we slipped from $40k to $30k and then stayed there for a while - ranging from $28k to $32k. It is now possible that $22k is the upper limit from which we will repeatedly decline to $20k, and if it lasts too long, we will probably see another drop - because a stable price is not something that characterizes Bitcoin.

In the short term, things don't look good, but for those who want to buy cheap and know that things like this have to happen sooner or later, periods like this shouldn't be a problem, but an opportunity to grab extra sats.

It does. And it doesn't make me feel good at all. That $30,000 was a long battle. The price rose several times beyond that but it also lost hold of that several times. But whenever there was a little increase beyond that, it would almost immediately be followed with a rejection. This is exactly what's happening with $20,000 right now. Again, this doesn't make me feel good at all. But although this isn't what we really want to happen, the good thing is that it's also an opportunity. There might never be something like this in the near future.

fzkto

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Quote from: Charles-Tim on June 21, 2022, 06:56:34 AM

This is just a short term speculation, it is possible that if bitcoin price rise to $28000 or $30000, there could still be selling pressure at that point which could plummet the price down back to $20000 or below. But this period will favour buyers that have long term ambition to hold, there can be volatility within certain range, but all-time-high would not likely take more than 3 years from now.

Note that you are talking about a 50% increase, which in the current bear market situation is very high. I don't deny that such a rise could happen smoothly, within a few weeks or even months, but so far I don't see the reasons for that. Unless the bear market ends and the bull run returns.

rhomelmabini

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Quote from: Cryptornd on June 21, 2022, 06:48:30 AM

I Think bitcoin could go toward 30k range again For a relief rally. Then come back to current range or even more dump possible . If btc would go toward 30k range most of investors will sell it again. BTCBTC

Bottom is in when the derivatives market is shorting $BTC into the dirt after the brunt of the spot selling has taken place. i.m.o we are currently in a bottom level. must be make an Uptrend from here. what ever it is this isn't short term game.

Yeah, it wasn't that all the nosedives or something, sellers are likely exhausted but we never know if the bottom was really in already. It could just get worse if there will be any bearish stuff to come again not just in the crypto market but for the whole market. DCA is a full proof against a bearish asset and it never gets old.

tn211

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Quote from: Lucius on June 23, 2022, 09:03:55 AM

Quote from: Fundamentals Of on June 21, 2022, 10:57:56 PM

$30,000 is too high before the selling continues. For the past days it seems the selling resumes as soon as the price bounces back a little, to even as low as $21,000 or $22,000. This doesn't look good at all. It seems the sellers cannot anymore wait for the $25,000 or $30,000 levels to be reached before they will continue with their thing. Does this mean Bitcoin's price still has a bigger room to fall? In any case this is indeed a long term game. And I'm in.

Does it remind you of something from the recent past? The same thing happened when we slipped from $40k to $30k and then stayed there for a while - ranging from $28k to $32k. It is now possible that $22k is the upper limit from which we will repeatedly decline to $20k, and if it lasts too long, we will probably see another drop - because a stable price is not something that characterizes Bitcoin.

In the short term, things don't look good, but for those who want to buy cheap and know that things like this have to happen sooner or later, periods like this shouldn't be a problem, but an opportunity to grab extra sats.

Exactly, my take on this is, we are looking at a bull trap. I do see fluctuations to perhaps 25k, but with so many defi sites getting hacked or losing funds by dump contracts there is more pain to come..

Lucius

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Quote from: Fundamentals Of on June 21, 2022, 10:57:56 PM

$30,000 is too high before the selling continues. For the past days it seems the selling resumes as soon as the price bounces back a little, to even as low as $21,000 or $22,000. This doesn't look good at all. It seems the sellers cannot anymore wait for the $25,000 or $30,000 levels to be reached before they will continue with their thing. Does this mean Bitcoin's price still has a bigger room to fall? In any case this is indeed a long term game. And I'm in.

Does it remind you of something from the recent past? The same thing happened when we slipped from $40k to $30k and then stayed there for a while - ranging from $28k to $32k. It is now possible that $22k is the upper limit from which we will repeatedly decline to $20k, and if it lasts too long, we will probably see another drop - because a stable price is not something that characterizes Bitcoin.

In the short term, things don't look good, but for those who want to buy cheap and know that things like this have to happen sooner or later, periods like this shouldn't be a problem, but an opportunity to grab extra sats.

Fundamentals Of

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Quote from: Dave1 on June 22, 2022, 12:36:00 AM

Quote from: Fundamentals Of on June 21, 2022, 10:57:56 PM

$30,000 is too high before the selling continues. For the past days it seems the selling resumes as soon as the price bounces back a little, to even as low as $21,000 or $22,000. This doesn't look good at all. It seems the sellers cannot anymore wait for the $25,000 or $30,000 levels to be reached before they will continue with their thing. Does this mean Bitcoin's price still has a bigger room to fall? In any case this is indeed a long term game. And I'm in.

They are shorting bitcoin again, specially for those who bought at lows of $17k, easy profit for a $22k pump. And now we are in the $20k range and there could be more selling pressure. But just one good news in this bear market might push it to $25k though. Give it over like a month and see where the price will go, I think $25k can easily be breach.

Yes, I guess there really are a lot of short right now. The fear level remains high and the negative outlook is still there. There are polls I've encountered on social media sites which suggest that the hard times are not yet gone and the fall has not yet reached the bottom. We are still in the middle of the bear market. But I agree with you that it will probably just be a matter of a few weeks before things could get better. $25,000 is an easy target in this case.

Paul Pogba

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Of course, we never thought that the bitcoin price would drop from $30k to $20k or more than 34% in 8 days, this is why we have to follow the advice of experts or influencers who suggest buying, holding or selling, and I'm currently following several influencers since the last 3 years and often their predictions are right.

adaseb

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Seems like there is a magnet now at $20K. When we first touched it there was tons of sell orders and why we kept dumping to $17K.

However when it approaches $20K now it seems many are buying Bitcoin at $20K. Most likely it will provide a temporarily bounce. Maybe it was the low, maybe not but either way you need to stay cautious especially what the stock market is currently doing.

lienfaye

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Quote from: Marvell1 on June 22, 2022, 10:52:11 AM

Those who bought bitcoin when it bottomed at $ 17k would quickly sell out if bitcoin returned to the $ 30,000 range, it will put pressure on the market and the price of bitcoin will continue to fall, so we should once again see the $ 20k range again.

Its likely to happen for investors who prefer short term. If they bought their Bitcoin at $17k bottom and sell at $30k its a nice profit already for those who take advantage the minor increase. Thats why there's always a way to gain even the market is in bearish but this is only for investors who can spend longer time to monitor the market frequently to not missed the timing to sell. Thus its expected if the price recover a bit, its bound to decline again, on the other hand long term hodlers are not bothered by this since they have target price to take profit.

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Quote from: darkangel11 on June 22, 2022, 06:19:43 PM

It could return for a relief rally, but when we fell from 40k to 30k there was no relief rally. Then we fell from 30 to 20k and no relief rally and then we fell to 17k and finally had some bounce back. There's no certainty here.

lets stop looking for relief rally because we already knew that rally only happens in Bull market in which mostly happens when Halving is there.

Quote

Don't look for short term moves, it's a waste of time. Bitcoin is too volatile and too easily manipulated. Only long term matter here. What are you going to do if it goes back to 30k? Will you take it for a proof of strength or weakness? Will you sell because it's only a dead cat bounce or will you hold it because it's going to flip to a bull market later this year?

indeed but not unless we are in the rallying market like 2017 or 2021 in which the market is showing a strong growth and then we can claim our grate profits.

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There's too many things going on in the background so I'm going to hold if it goes to 30k and I'm going to hold if it doesn't.

Keeping it all will help market to extend its growing , this is the way we can help bitcoin profiting.

darkangel11

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It could return for a relief rally, but when we fell from 40k to 30k there was no relief rally. Then we fell from 30 to 20k and no relief rally and then we fell to 17k and finally had some bounce back. There's no certainty here.

Don't look for short term moves, it's a waste of time. Bitcoin is too volatile and too easily manipulated. Only long term matter here. What are you going to do if it goes back to 30k? Will you take it for a proof of strength or weakness? Will you sell because it's only a dead cat bounce or will you hold it because it's going to flip to a bull market later this year?

There's too many things going on in the background so I'm going to hold if it goes to 30k and I'm going to hold if it doesn't.

darewaller

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I would guess that most of that already gone, it wouldn't take that long. I get the "3" in the 3-6 months, and yes it could take that long, maybe as long as 6 months but that would be a bit too much. I guess that by Q4 of this year we will start to see a bit of recovery and that will probably put us back to 30k.

I am not saying that we will be breaking ATH in the next few months, of course we will not do that, I am just talking about the 30k part, and that is not too far away, just a 50% increase and we all know how easy it could be for us to go up 50% in crypto world. This is why I am guessing that the best thing to do right now would be waiting, and not selling.

Unfortunately we are facing bearish sentiment right now in bitcoin markets which may last till weekends and only by the times of weekend we are seeing bulls get into action hence hopefully this weekend also might be another one for similar market actions.

Marvell1

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Those who bought bitcoin when it bottomed at $ 17k would quickly sell out if bitcoin returned to the $ 30,000 range, it will put pressure on the market and the price of bitcoin will continue to fall, so we should once again see the $ 20k range again.

According to my opinion, bitcoin may hit $ 30,000 again, but it won't happen in June. It will probably move sideways at $ 20-22k before reaching $ 30,000.

superman184

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bitcoin always surprises everyone, with the price suddenly dropping and rising. everyone wants the price to continue to improve but in the field the bitcoin price can not be determined alone.
I think bitcoin price will hit 30k again but not anytime soon. for now the bitcoin market is in an unstable state because the world economy is also in a bad state globally.

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