Topic: Bitcoin's Resilience: Returns to $26K Support Amidst Market Volatility (Read 205 times)
September 07, 2023, 05:05:03 AM
I don't know since when did I start not to care too much about small movements that occur in the market. Maybe this happened after I focused too much on my DCA. Because I want to achieve my target before the halving occurs. This is what makes me even smile when I see bitcoin corrected. And I pay attention to Bitcoin movements only to support my analysis in daily trading on Altcoins. Whereas in Bitcoin I don't feel worried. And about the SEC losing to Grayscale in court. Currently Grayscale is urging the SEC to immediately approve the spot Bitcoin ETF that has been submitted by Grayscale. Bitcoin will shine in time. The SEC won't be able to hold it much longer.
September 07, 2023, 04:19:45 AM
The level that we monitor is $ 24,995 if the price does not move away from touching this level soon, we will see the levels of 21,000, which is supported by indicators such as the RSI index (RSI), which appears to be a representation of a sale signal.
But I am not optimistic, even if we move up a little bit, the level of resistance at 29k is still strong and does not seem that it will be broken soon. we will be less than 29k for the coming months.
But I am not optimistic, even if we move up a little bit, the level of resistance at 29k is still strong and does not seem that it will be broken soon. we will be less than 29k for the coming months.
September 07, 2023, 03:20:26 AM
Furthermore, on-chain data reveals an increase in the number of transactions occurring on the BTCitcoin Network, rising from 415,000 to 430,000. While this surge in activity has not had a substantial impact on Bitcoin's price, it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.
The impact won't be felt quickly on an instant, it takes time until we see the impact of it if you're wanting to see it through the price. But that's okay that we're seeing the surge in transactions but not with the price. It only means that there's more demand and later on the price will eventually have to increase.
I think we're also done with seeing the price too low and from its bottom.
September 06, 2023, 02:32:28 PM
The decrease in market cap is due to the decrease in price due to the mathematical relationship that links them, and there is no relationship between an increase in the number of transactions that occur and the price of Bitcoin. The price rebound from the bottom of 25,600 still confirms the possibility of a rise in price, and the prediction (several days) I was talking about is still valid.
- This month's peak will be: 31,000
- This month's low will be: 19,500
- The probability that the price is in a range 19,500 to 24,785 (51%)
- The probability that the price is in a range 25,600 to 31,000 (49%)
From your research and conclusion, what you're saying here now is that we are expecting more of bear than the bull, the market bear indication is more higher than that of bull, but i like it for the fact that there's still some possible attempts to reach the maximum limit of $31,000 within this week which is something we can also write about that the market is likely to present us with an additional rise if the least expectation should be what eventually happens, which is rising above $26,000 to $31,000 anytime from now.
September 06, 2023, 05:08:03 AM
During the past week, BTCitcoin witnessed a substantial decrease 
in its market value, raising concerns among individual investors who may have suffered losses due to the significant market volatility. The price of Bitcoin exhibited fluctuations within a range of approximately 2,700 points, with its highest point for the week hitting $28,176 and its lowest reaching $25,451, eventually stabilizing within a precarious range.
in its market value, raising concerns among individual investors who may have suffered losses due to the significant market volatility. The price of Bitcoin exhibited fluctuations within a range of approximately 2,700 points, with its highest point for the week hitting $28,176 and its lowest reaching $25,451, eventually stabilizing within a precarious range.If you are a holder there is no need to bother yourself with the recent decline in the price of BTC, The only people who will get affected are traders who are involved with future /leverage trading and who were in a Bitcoin long position at the time of the market plunge. Therefore, If you have been here for quite some time and if you witnessed what happened during the Luna and FTX collapse there should be no reason for any panicking if you compare the impacts on the market.
Furthermore, on-chain data reveals an increase in the number of transactions occurring on the BTCitcoin Network, rising from 415,000 to 430,000. While this surge in activity has not had a substantial impact on Bitcoin's price, it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.
Then in terms of the increase in the activity or number of Bitcoin transactions based on chainanalysis, it will take a little bit of time before the market will eventually price in those transactions.
September 06, 2023, 03:54:22 AM
The decrease in market cap is due to the decrease in price due to the mathematical relationship that links them, and there is no relationship between an increase in the number of transactions that occur and the price of Bitcoin. The price rebound from the bottom of 25,600 still confirms the possibility of a rise in price, and the prediction (several days) I was talking about is still valid.
- This month's peak will be: 31,000
- This month's low will be: 19,500
- The probability that the price is in a range 19,500 to 24,785 (51%)
- The probability that the price is in a range 25,600 to 31,000 (49%)
September 06, 2023, 03:48:55 AM
$25k is a very strong support, so we expect that there's a lot of demand on that area and because there's a lot sellers, the price won't increase. If we look at the weekly time frame, the market says that we are in the bullish trend. I believe what the market doing is just a retracement but if ever the price broke below $25k, the trend will change and it will be difficult to go up higher and there's a risk that the price would dig deeper. I expect the price will just take enough liquidity in the support level to extend the price higher. But since the market is currently indecision, we have to wait for the big news about crypto because it can really affect the price.
I don't think there is much bullish sentiment from the market, rather it explains that we are in a sidways zone with fluctuations, the price of $25K is indeed strong enough to withstand any rejection that occurs, but I see the market is responding very saturated, and talking about ETFs is still It's just being considered by the SEC or in other words it is still being studied more deeply and they are asking for quite a long time so that today it doesn't really matter, the bearish sentiment has not completely disappeared, some time in the future we will also hear about the US inflation rate, if the inflation calculations are still high, then interest rates will definitely increase, and this will also provide a negative impetus for assets such as bitcoin or crypto which will generally suppress selling impulses, perhaps if that happens we will experience a decline back to even lower support prices at the end of Q3 . 
September 06, 2023, 01:16:34 AM
Treat the prices as just numbers without trying to find the cause or look for the cause but don't obsess over it and give it minimal priority. There are good support levels ar 25k and prices should hold. But my choice at this time would be to hold and wait, the prices may drop all of a sudden too, so don't go in fomo buying right away.
Gradually the price is moving up but dropping too, hence my prediction is such at this moment. Let's not get too euphoric but wait for the next movement. Day traders may be having a field day but care needs to be taken for new traders in such times.
Gradually the price is moving up but dropping too, hence my prediction is such at this moment. Let's not get too euphoric but wait for the next movement. Day traders may be having a field day but care needs to be taken for new traders in such times.
September 05, 2023, 06:19:59 PM
$25k is a very strong support, so we expect that there's a lot of demand on that area and because there's a lot sellers, the price won't increase. If we look at the weekly time frame, the market says that we are in the bullish trend. I believe what the market doing is just a retracement but if ever the price broke below $25k, the trend will change and it will be difficult to go up higher and there's a risk that the price would dig deeper. I expect the price will just take enough liquidity in the support level to extend the price higher. But since the market is currently indecision, we have to wait for the big news about crypto because it can really affect the price.
September 05, 2023, 05:22:19 PM
Bitcoin is not stuck here, it will eventually go up, and all of us getting together and worrying about when that will happen won't change the result. We should just be calm, and wait for it to get to a better place, it should not be something that will get to a better point.
That is the point. More questions and worry about price of bitcoin because it will later leave the range of price now to another price. The price have been relatively down and slow involving low activities since the drop to $27k,000. Soon we are going to witness volatility as we are now approaching the end of the year. The movement of price back and forth is expected which is showing the panic of the last incident and with time the adjustment will happen and volatility will return to the market especially from the traders.
September 05, 2023, 04:59:09 PM
I do agree that it is going to be tough to get over this level and it looks like it is going to take some time and all, but it can be done and we could enjoy it. I believe that it is going to be something to care about and something to like, we should just be careful about it. I understand that life is not that easy and we could maybe end up with something much better on the long term, but as long as we let it be then we are going to be fine.
Bitcoin is not stuck here, it will eventually go up, and all of us getting together and worrying about when that will happen won't change the result. We should just be calm, and wait for it to get to a better place, it should not be something that will get to a better point.
Bitcoin is not stuck here, it will eventually go up, and all of us getting together and worrying about when that will happen won't change the result. We should just be calm, and wait for it to get to a better place, it should not be something that will get to a better point.
As we have seen thru the years, we won't be here forever. At some point it will go up or down again.
As long as this market is attracting more users, we have the hope about increasing its demand.
It is only a matter of time before we see it rising again. And before that happens, you should be ready on this.
We have encountered a lot of more troubles before, and today, it is still standing because of the foundation it has built throughout these years.
September 05, 2023, 04:19:59 PM
Investors get tired of the bitcoin price movement some of them sell for a while because if you check the price just makes a sideways and just sits around 25-30k$ and they don't get too much profit instead the benefits only for the scalpers because they always grab the swings of the market, and also if the bitcoin price breaks the 25k price we ae now seeing the 23k for sitting this coming month, if this still no changes we will face again the 10k digit price of the bitcoin and perfect opportunity to accumulate coins as possible.
Bitcoin is not for short time traders. Those traders who are fed up of price volatility between 25 to 30k can make a choice of whether to stay or leave. There is no definite time for bitcoin to go bullish or bearish. Price of bitcoin was very much stable on 30k few days back and now its going down. To me it's nothing to worry about rather its a good opportunity to accumulate bitcoins at this price. There is halving coming up next year and there are chances that bitcoin price may go up after that halving.
Now we are hovering on 25k+ which we didnt really expect as the price had jumped on $28k on last few days but look at on where we are now? This is why its really that hard on making out some
positioning specially the market is really that showing total randomness. We do have that bullish sentiment when it comes to technical analysis but the price could move out opposite direction.
Such news whether known or sudden could neither be giving out some impact or not on the market on which it would really be entirely depending on how it would really be treated up.
Negative or positive, this is the only two ways or paths on which it could take. Bitcoin support is playing around on 25k and might be able to breakout if there would really be
some sudden negative news that might push into the market.
September 05, 2023, 01:18:12 PM
I do agree that it is going to be tough to get over this level and it looks like it is going to take some time and all, but it can be done and we could enjoy it. I believe that it is going to be something to care about and something to like, we should just be careful about it. I understand that life is not that easy and we could maybe end up with something much better on the long term, but as long as we let it be then we are going to be fine.
Bitcoin is not stuck here, it will eventually go up, and all of us getting together and worrying about when that will happen won't change the result. We should just be calm, and wait for it to get to a better place, it should not be something that will get to a better point.
Bitcoin is not stuck here, it will eventually go up, and all of us getting together and worrying about when that will happen won't change the result. We should just be calm, and wait for it to get to a better place, it should not be something that will get to a better point.
September 05, 2023, 06:50:20 AM
Investors get tired of the bitcoin price movement some of them sell for a while because if you check the price just makes a sideways and just sits around 25-30k$ and they don't get too much profit instead the benefits only for the scalpers because they always grab the swings of the market, and also if the bitcoin price breaks the 25k price we ae now seeing the 23k for sitting this coming month, if this still no changes we will face again the 10k digit price of the bitcoin and perfect opportunity to accumulate coins as possible.
Bitcoin is not for short time traders. Those traders who are fed up of price volatility between 25 to 30k can make a choice of whether to stay or leave. There is no definite time for bitcoin to go bullish or bearish. Price of bitcoin was very much stable on 30k few days back and now its going down. To me it's nothing to worry about rather its a good opportunity to accumulate bitcoins at this price. There is halving coming up next year and there are chances that bitcoin price may go up after that halving.
September 05, 2023, 05:55:12 AM
Investors get tired of the bitcoin price movement some of them sell for a while because if you check the price just makes a sideways and just sits around 25-30k$ and they don't get too much profit instead the benefits only for the scalpers because they always grab the swings of the market, and also if the bitcoin price breaks the 25k price we ae now seeing the 23k for sitting this coming month, if this still no changes we will face again the 10k digit price of the bitcoin and perfect opportunity to accumulate coins as possible.
Investors don't get tired with Bitcoin price movement if it does not change much and halving is still very far with months ahead.So who are tired with latest market movements?
Speculators, gamblers and traders who borrow money to buy bitcoin and always wake up with fearful of loan expiration and loan repayment including loan interest. Traders who always want to get quick profit and move to other coins, find other opportunities. Gamblers who trade with leverages, futures and have pressure from funding fees as well as liquidations.
They are likely tired with price stuck recent months but investors can wait longer and they even feel happy because they can have more time to load more bitcoin before a next halving.
September 05, 2023, 05:40:33 AM
Investors get tired of the bitcoin price movement some of them sell for a while because if you check the price just makes a sideways and just sits around 25-30k$ and they don't get too much profit instead the benefits only for the scalpers because they always grab the swings of the market, and also if the bitcoin price breaks the 25k price we ae now seeing the 23k for sitting this coming month, if this still no changes we will face again the 10k digit price of the bitcoin and perfect opportunity to accumulate coins as possible.
September 05, 2023, 05:27:33 AM
We’re on the sideways and the market becomes more unpredictable as the volatility increases too.
We have to hold on the level of $25k to avoid panic but again, anything can happen especially now that there’s no strong news that can support the pump of Bitcoin aside from the end of the ghost Month which I believe also influence the price of Bitcoin.
It is so true that there is no strong fundamentals that will pull the price of Bitcoin upwards so suddenly but we still need to understand that the closer the halving draws the more the tendency of Bitcoin bullish. We have to hold on the level of $25k to avoid panic but again, anything can happen especially now that there’s no strong news that can support the pump of Bitcoin aside from the end of the ghost Month which I believe also influence the price of Bitcoin.
Halving is not up to 2 years again. So we should not be expecting more bear market. We should be looking forward to bullish market in the coming months. So the idea that bitcoin will be going towards the bear is not readily supported Everything about bitcoin and cryptocurrency market should be building up to upward movements from henceforth and that is where I will rely my plans of investment and not to be so skeptical.
September 02, 2023, 03:58:16 PM
We’re on the sideways and the market becomes more unpredictable as the volatility increases too.
We have to hold on the level of $25k to avoid panic but again, anything can happen especially now that there’s no strong news that can support the pump of Bitcoin aside from the end of the ghost Month which I believe also influence the price of Bitcoin.
We have to hold on the level of $25k to avoid panic but again, anything can happen especially now that there’s no strong news that can support the pump of Bitcoin aside from the end of the ghost Month which I believe also influence the price of Bitcoin.
September 02, 2023, 03:21:59 PM
During the past week, BTCitcoin witnessed a substantial decrease in its market value, raising concerns among individual investors who may have suffered losses due to the significant market volatility. The price of Bitcoin exhibited fluctuations within a range of approximately 2,700 points, with its highest point for the week hitting $28,176 and its lowest reaching $25,451, eventually stabilizing within a precarious range.
in its market value, raising concerns among individual investors who may have suffered losses due to the significant market volatility. The price of Bitcoin exhibited fluctuations within a range of approximately 2,700 points, with its highest point for the week hitting $28,176 and its lowest reaching $25,451, eventually stabilizing within a precarious range.The market is really scary right now to trade, it's full of more of fundamentals and speculations than technical because right now, only the minded traders are opening trade, you can't make money trading spot, it's all loss on losses, nothing solid to make but the futures and perpetual traders are making something out of it. For instance, Gray scale won the case against SEC and the market pump early than we thought and about $1T liquidation happen to short traders and when the ETF got delayed, we had another leg down with losses and win win for longer and shorter.
If you look deeply into the market, traders or moneymakers don't have what they can leverage in the market and that's why they exploring ETF to determine the market and the damage it's causing is affecting people who don't want these big players in crypto in the first place.
Quote
This decline in the value of Bitcoin, intensified by the loss of critical moving averages and the breach of the $27,000 threshold, can be attributed to adverse market sentiment and delays in the approval process for spot Bitcoin Exchange-Traded Funds (ETFs) by the US Securities and Exchange Commission (SEC).
Furthermore, on-chain data reveals an increase in the number of transactions occurring on the BTCitcoin Network, rising from 415,000 to 430,000. While this surge in activity has not had a substantial impact on Bitcoin's price, it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.
Furthermore, on-chain data reveals an increase in the number of transactions occurring on the BTCitcoin Network, rising from 415,000 to 430,000. While this surge in activity has not had a substantial impact on Bitcoin's price, it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.
All these data doesn't matter, Bitcoin hash rate can continue to climb higher, but it doesn't change about what people feel about that particular time, even if Elon decide to bring back Bitcoin payment into SpaceX, it will not get attention like the way he had back then when everyone loves him, all this may change in the future or as we progress gradually.
September 02, 2023, 03:02:15 PM
Hmm, the market is on its way OP, I'm just having a cup of tea while watching the market because it seems like there can be a 2 weeks pressure on the market. It will get Up and down in between the tight range of 1% to 2% gain and lose. I would say these weeks are still going to be more lively as compared to a few weeks back in the market. A couple of more days Bonus for the Accumaltors so hold down and fill up, for DCA accumulators this can be an opportunity to obtain more by rasing the per DCA capital.
As we are discussing the market scenario I think for the Alt traders it looks like a full disastrous timeline because no fundamental developments in the support of Altcoin are showing any moves, and Altcoins are stickingly moving with the BTC.
As we are discussing the market scenario I think for the Alt traders it looks like a full disastrous timeline because no fundamental developments in the support of Altcoin are showing any moves, and Altcoins are stickingly moving with the BTC.
September 02, 2023, 01:20:27 PM
it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.
How that the heightened activity amid ongoing market downturn will be a concern while not all transactions doesn’t revolved on trading. Bitcoin is being use for different services such as mixing, payment, remittance, gambling and many more which is not affected when the price is dumping. I think it will be more concerning if the transaction activity will be lower because it means that the adaption is slowing down due to fear in the market.
Just as you mentioned, other services which do not record the $ value of Bitcoin such as gambling payment for tickets are all areas that contribute more to the Bitcoin ecosystem than traders on the long term basis.
September 02, 2023, 12:07:50 PM
it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.
How that the heightened activity amid ongoing market downturn will be a concern while not all transactions doesn’t revolved on trading. Bitcoin is being use for different services such as mixing, payment, remittance, gambling and many more which is not affected when the price is dumping. I think it will be more concerning if the transaction activity will be lower because it means that the adaption is slowing down due to fear in the market.
September 02, 2023, 11:45:51 AM
During the past week, BTCitcoin witnessed a substantial decrease in its market value, raising concerns among individual investors who may have suffered losses due to the significant market volatility. The price of Bitcoin exhibited fluctuations within a range of approximately 2,700 points, with its highest point for the week hitting $28,176 and its lowest reaching $25,451, eventually stabilizing within a precarious range.
This decline in the value of Bitcoin, intensified by the loss of critical moving averages and the breach of the $27,000 threshold, can be attributed to adverse market sentiment and delays in the approval process for spot Bitcoin Exchange-Traded Funds (ETFs) by the US Securities and Exchange Commission (SEC).
Furthermore, on-chain data reveals an increase in the number of transactions occurring on the BTCitcoin Network, rising from 415,000 to 430,000. While this surge in activity has not had a substantial impact on Bitcoin's price, it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.
in its market value, raising concerns among individual investors who may have suffered losses due to the significant market volatility. The price of Bitcoin exhibited fluctuations within a range of approximately 2,700 points, with its highest point for the week hitting $28,176 and its lowest reaching $25,451, eventually stabilizing within a precarious range.This decline in the value of Bitcoin, intensified by the loss of critical moving averages and the breach of the $27,000 threshold, can be attributed to adverse market sentiment and delays in the approval process for spot Bitcoin Exchange-Traded Funds (ETFs) by the US Securities and Exchange Commission (SEC).
Furthermore, on-chain data reveals an increase in the number of transactions occurring on the BTCitcoin Network, rising from 415,000 to 430,000. While this surge in activity has not had a substantial impact on Bitcoin's price, it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.
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