Bitcoin's sideways adjustment, can you still chase up and buy more now?

buwaytress

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Quote from: jaberwock on October 09, 2021, 04:56:41 PM

Round numbers definitely do have a meaning, we had the same thing during 10k where it took us so many times to try and go above then we dropped below and repeated that action multiple times. We had the same thing with 20k, and 30k, I am not sure with 40k, I feel like we went over 40k like it was nothing so I can't say 40k was cared at all, then we had it with 50k recently for the past 2 months or even 3 if you count the very early period. Now we can say 64k ATH was seen and dropped under 60k and consider that, but it happened just that one time and not a repeated situation so I can't say much about it.

Yeah. When I sauntered in properly on my second coming in 2016 (I initially looked up Bitcoin around 2013 but only for research and some news story, which I admit though I wrote fairly objectively I personally viewed with such skepticism it would take 3 years and an accident for me to really come back to it!), everyone was talking about how cool it'd be if Bitcoin would hit 1000 again, just one more time. No one talked about how it would blast past its old ATH if it did, just about 1000 being the "end game".

10 and 20k yep! And it wasn't that no one cared about 40k either (and it has served recently as a logical support), it's just that in a rally, milestones are tough to identify or pause for.

See you at big round 100k eh?

LUCKMCFLY

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I think that each person has a way of seeing the market and it is respectable, for me in this case if the BTC is below its last ATH which was $ 64k, then it is the ideal time to buy, the reason is simple, I know that the BTC will go up to $ 64k, and if I bought below that price I am already winning, it is most likely that when it reaches that ATH it will give another bullish turn and from then on everything is positive.

When I do not recommend buying, it is when there are new highs, it is a great risk, and as an example is when in 2017-2018 it reached its peak, it was in the Distribution phase and many people did not know it and bought at $ 20k and then saw how all their investment collapsed, but by the very nature of the market.

tbct_mt2

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Quote from: Questat on October 09, 2021, 06:41:40 PM

The market shows a continuous pump lately and it was expected to keep that momentum for a few more days (hoping it will last longer). But this time, ain't that good to invest in just for me, maybe the others could be but the risk is too high. I have to wait for a few corrections before buying when it reaches $50k again. I'm not sure how long it takes but I'm still being patient to wait.
There is no perfect time when to buy but with the help of the market chart, we can decide when.

Another correction to $50k or even deeper to $48k would be very great for Bitcoin. It will be the test from whales before they pump Bitcoin to the $64k area. After the $64k, we will see a new sky with a new parabolic growth of Bitcoin.

Quote from: TravelMug on October 09, 2021, 08:22:59 PM

So it might be late if we keep on waiting for at least $50k dump, because even in this weekends the price or at least the volume is still high. Usually in weekends, we see the volume someone weak as compare to weekdays. But this time, it's different, US and Asia timezone still trade at this rest days.

The supply on the market, on exchange is keep falling and it results in a supply shock. Supply shock in turn will cause a positive sentiment and the market will move up.

If we don't see any abnormal movement in this bull run, Bitcoin will have to move up in October and November. If history repeats and if on-chain analysis remains to have its value. I don't see either of them will fail in this bull run.

Bitcoin will make a new all time high and if you wait for a new all time high, let's prepare your psychology as strong as possible for any fast dump in coming weeks.

TravelMug

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Quote from: Questat on October 09, 2021, 06:41:40 PM

The market shows a continuous pump lately and it was expected to keep that momentum for a few more days (hoping it will last longer). But this time, ain't that good to invest in just for me, maybe the others could be but the risk is too high. I have to wait for a few corrections before buying when it reaches $50k again. I'm not sure how long it takes but I'm still being patient to wait.
There is no perfect time when to buy but with the help of the market chart, we can decide when.

Hopefully there will be a correction, but not upon reaching $60k or new all time high.

So it might be late if we keep on waiting for at least $50k dump, because even in this weekends the price or at least the volume is still high. Usually in weekends, we see the volume someone weak as compare to weekdays. But this time, it's different, US and Asia timezone still trade at this rest days.

Anyhow, I'm seeing a continuous bullish sentiments up to the next big psychological barrier of $60k.

Questat

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The market shows a continuous pump lately and it was expected to keep that momentum for a few more days (hoping it will last longer). But this time, ain't that good to invest in just for me, maybe the others could be but the risk is too high. I have to wait for a few corrections before buying when it reaches $50k again. I'm not sure how long it takes but I'm still being patient to wait.
There is no perfect time when to buy but with the help of the market chart, we can decide when.

sheenshane

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Quote from: jaberwock on October 09, 2021, 04:56:41 PM

All in all I would say it is definitely something I would not be worried about at all, it looked quite entertaining and I would definitely be fine with it. What I believe happened right now would be breaking over that 60k and then go down and go above again and down few times before we go up and stay there.

We're almost there. Wink

We have already experienced a massive correction this year and that was in the month of July when the price lowered to the $30k range, compared to the all-time high that range above $60k in April, and now I think it's easy to break the previous ATH and create a new one.

We know the price of Bitcoin is very volatility so it doesn't mean if there's an infinite growth per month, there should be a corresponding correction right after a massive pump. I think let's prepare for that now, I heard many experts says after this range of $50k will have again another correction. But for me, I look after the price of Bitcoin in the long term.

jaberwock

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Quote from: buwaytress on October 09, 2021, 03:58:52 AM

You don't have to believe it for it to be true Wink

Round numbers do have a proven psychological bearing. I know myself I put some or most orders in round numbers (not necessarily entire units but in prices I round up or down a lot when selling.

Round numbers have always and will always be easier-to-comprehend milestones for the brain. TA may use other lines but they mean little to our cursory observation.

Round numbers definitely do have a meaning, we had the same thing during 10k where it took us so many times to try and go above then we dropped below and repeated that action multiple times. We had the same thing with 20k, and 30k, I am not sure with 40k, I feel like we went over 40k like it was nothing so I can't say 40k was cared at all, then we had it with 50k recently for the past 2 months or even 3 if you count the very early period. Now we can say 64k ATH was seen and dropped under 60k and consider that, but it happened just that one time and not a repeated situation so I can't say much about it.

All in all I would say it is definitely something I would not be worried about at all, it looked quite entertaining and I would definitely be fine with it. What I believe happened right now would be breaking over that 60k and then go down and go above again and down few times before we go up and stay there.

otundebis

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The fear and greed are powerful emotion that makes people do irrational things. When market dump btc price, majority of people will sell, thinking it will dipl further. When the price recovered and those in profit want to sell, that is when majority of traders want to buy, and they get dumped on. The btc market is the place to make easy money if the market is understood!

shield132

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Quote from: dimonstration on October 08, 2021, 04:59:03 PM

The price is too high to consider buying, there will be at point where the price can drop even a bit or better wait till correction happens and invest in other coins, otger coins is able to pump too whenever bitcoin is. If you have Bitcoin saved now it will be enough to gain profit while it pumps. It’s quite risky to buy at this point but who knows what price of Bitcoin cam reach this year so buying still possible if we know we have money to invest with.

Bitcoin was worth $30 000 some weeks ago, that was a good price. If someone thinks that right now is a huge price to buy but at the same time missed the opportunity to buy it at 30K, then I think he/she doesn't need to trade and better to do other job. It's never too late to enter if you are trading daily. To my mind the market is very bullish and we will quickly surpass 60K. Just see, China doesn't have influence on market anymore, price is rising without the speculations of Elon Musk and his kind of persons. This means that the people have matured around this price and we won't see serious dumps at least this year.

Johnyz

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Every time we see the uptrend with Bitcoin, it usually corrects and now we are on the sideways trend again which is a critical one because if we can go lower than $52k again, that could be my buying signal, any price below $50k is a good entry for me.

Its good that Bitcoin stays on $54k level as of posting, we might continue the up trend next week, really hard to predict the price now so better not to greedy that much.

tbct_mt2

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Bitcoin can just side way and give a few days for altcoins to rise. I think Bitcoin can have a last dip to $48,000 to $49,000 after which it will run smoothly to $64,000.

I meant I don't think it is good time to buy Bitcoin. Buying altcoins is better now. After you take profit with altcoins you can use stable coins to buy Bitcoin if it dives again.

After you buy Bitcoin in dip, hold it and wait for the party from Bitcoin.

buwaytress

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Quote from: palle11 on October 08, 2021, 03:29:43 PM

Quote from: Yaunfitda on October 08, 2021, 10:04:08 AM

And we all know that if rounds numbers like $60k is reach, another set of FOMO will enter the picture so I expect that a new all time high can be established in this latest super fast rally that we are witnessing.

I don't believe round numbers having something doing with the price rising or decreasing nor if it means a strong support or resistance to be broken. Those are mere speculation with round number but I understand that this is a bull rally with a little stop on and on and if $60k gets broken it means the price off to bull and a new ATH may be reached.

You don't have to believe it for it to be true Wink

Round numbers do have a proven psychological bearing. I know myself I put some or most orders in round numbers (not necessarily entire units but in prices I round up or down a lot when selling.

Round numbers have always and will always be easier-to-comprehend milestones for the brain. TA may use other lines but they mean little to our cursory observation.

bitgolden

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It is definitely not sideways adjustment and it is definitely a bull run. We came here from near 41k price, from there to 56k is a bull run, if you do not consider this a bull run then I do not know what you would consider a bull run to be.

We have gone up more than 40% total in the past month from bottom to peak and that means a huge bull run. From here on out I do not think that it will suddenly become a sideways adjustment stage, it will either keep going and break the ATH which is very close and could be done if we keep going, or it will have a crash under 50k as well, that is a possibility in crypto at all times. I do not think that it will suddenly become boring and stay between 50k-60k for months, that doesn't look like the possible outcome here.

Oceat

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So, what now? It touches already the $60k then getting back to $54k in just a short amount of time. It seems that no one wants to hold anymore at the $60k level or is it just the whales starting to dump to make their gains? Whatever it was it probably did earn a profit so I think it's not a good idea to short Bitcoin this way since the possibility that you might wanna get rekt is too high.

Right now, Bitcoin is trying to maintain the price stability but if most people would start to sell during this time we might get back to the $49k level and I think it would be hard to recover back to the $50k+ again. It's almost touching the ATH yet it goes sideways after it reaches $60k. What are these people so afraid of?

stomachgrowls

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Quote from: palle11 on October 08, 2021, 03:29:43 PM

Quote from: Yaunfitda on October 08, 2021, 10:04:08 AM

And we all know that if rounds numbers like $60k is reach, another set of FOMO will enter the picture so I expect that a new all time high can be established in this latest super fast rally that we are witnessing.

I don't believe round numbers having something doing with the price rising or decreasing nor if it means a strong support or resistance to be broken. Those are mere speculation with round number but I understand that this is a bull rally with a little stop on and on and if $60k gets broken it means the price off to bull and a new ATH may be reached.

Touching 60k would only have 2 possible scenarios that would happen neither there would be a break out or would really be have some rejection which would really result into price decrease instead.

Its not new that after some significant rise then it starts to make out some sideway movement afterwards which would really be putting you in the situation on where you have doubts whether
you do sell or would wait or would accumulate on that level.

You wouldnt know on what comes next and this is the hard part of dealing with speculative market.You can make out indicators on charts but those arent 100% precise
which you cant rely on but somehow it is better rather than having no basis at all.

dimonstration

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Dimon69

The price is too high to consider buying, there will be at point where the price can drop even a bit or better wait till correction happens and invest in other coins, otger coins is able to pump too whenever bitcoin is. If you have Bitcoin saved now it will be enough to gain profit while it pumps. It’s quite risky to buy at this point but who knows what price of Bitcoin cam reach this year so buying still possible if we know we have money to invest with.

palle11

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Quote from: Yaunfitda on October 08, 2021, 10:04:08 AM

And we all know that if rounds numbers like $60k is reach, another set of FOMO will enter the picture so I expect that a new all time high can be established in this latest super fast rally that we are witnessing.

I don't believe round numbers having something doing with the price rising or decreasing nor if it means a strong support or resistance to be broken. Those are mere speculation with round number but I understand that this is a bull rally with a little stop on and on and if $60k gets broken it means the price off to bull and a new ATH may be reached.

boyptc

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I'll wait a bit.

If it drops to $52k and lower then that's the buying signal but if it didn't and price goes up to $55k-$56k. Then rethink of the decision that you might do.

But if you're for the really long term plan like years of holding, it's still a good time to buy.

Yaunfitda

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Quote from: palle11 on October 08, 2021, 06:27:00 AM

Usually sideways is a sign of indecision in the market and that can cause market breakout to any direction. Now the focus is where will the breakout go to? The price have been bullish since the beginning of the month, we are still expecting more bull during this season so the next resistance level that is $60k may be broken down for a text to continue or a pullback spike for more confirmation.

$60k will be the next to be broken, but it will go to several resistance price, $58k will be the biggest. But then again, we are in a bullish sentiments right now, so who knows this resistance level could be easily broken.

And we all know that if rounds numbers like $60k is reach, another set of FOMO will enter the picture so I expect that a new all time high can be established in this latest super fast rally that we are witnessing.

slaman29

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Quote from: Fish analysis BTC on October 08, 2021, 02:38:31 AM

At the same time, we need to remind everyone that you should not consider shorting for the time being. Even if there is a big drop, the big drop will only occur after an upward impact. Therefore, today’s contract trading advice is: still make long orders when the callback is around 53400-53600, the target range is 56000-56400; the downward break through the support level 52950 stop loss;

Too late though, every proper trader should be making shorts at 56, not because price will fall back down and crash, but because there's bound to be a bounce of resistance.

Only past ATH will we see the rises going one after another.

Not that I'm shorting for sure, just holding and adding. I'd add at any price now if I had extra cash.

palle11

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Usually sideways is a sign of indecision in the market and that can cause market breakout to any direction. Now the focus is where will the breakout go to? The price have been bullish since the beginning of the month, we are still expecting more bull during this season so the next resistance level that is $60k may be broken down for a text to continue or a pullback spike for more confirmation.

Dave1

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Of course,

1. You can short bitcoin when it's on a bull run, trust me, I've learn this from experience, you will get REKT.

2. There is no sideways adjustment, bitcoin is moving upward, $52k which is the resistance, now become our support levels. And we have touch below that after bitcoin breaking into $55k++

3. I still think it's good to buy at this level, simply hold and wait for it to touch at least $60k and then see how it goes.

Ararbermas

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It's now up and near 56k value, i hope you place an order before it break out from the side ways.. Actually when there's a sideway movement for me the good idea for it is to wait for more confirmation before placing an orders or buying because on that way you can assure where will be the next direction of the growth rate, wherein just locate the new support and resistance, if it breaks out above then buy, because its quite skeptical if you see a side ways and you will buy but afterwards it will make a false break out. So much better to wait for more results before placing order or buying to assure everythings is good.

Fish analysis BTC

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BTC market review yesterday: Yesterday’s suggestion to friends is to make long orders when the callback reaches around 53600-54000, the target range is 56000-56400; the downward break through the support level 52950 stop loss; the result is a sideways shock, so every time you pull back All are opportunities to enter the market and continue to be bullish.https://preview.redd.it/c5o9virnj6s71.png?width=1314&format=png&auto=webp&s=10cd0352d5b9015b6cf6c8594d71d2db5abc364e
Bitcoin (BTC) contract technical analysis: the trend line continues to continue the EMA Cross golden cross running upward, the general trend remains unchanged, the downward callback is repaired, the previous high of 52950 becomes a support level, if it breaks, it means that a major callback is about to appear , If you touch the rebound, you will continue to be bullish. At the same time, we need to remind everyone that you should not consider shorting for the time being. Even if there is a big drop, the big drop will only occur after an upward impact. Therefore, today’s contract trading advice is: still make long orders when the callback is around 53400-53600, the target range is 56000-56400; the downward break through the support level 52950 stop loss;

Topic: Bitcoin's sideways adjustment, can you still chase up and buy more now? (Read 195 times)