BTC Bull Attempts to Break $50,000 - A Psychological Hurdle as well as The Next

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Quote from: Johnyz on September 04, 2021, 04:54:03 PM

Quote from: Porfirii on September 02, 2021, 01:58:13 PM

I got here via this post.

If I'm not wrong, in the last 24 hours Bitcoin has managed to break $50k resistance before falling back to $49.4k right now. We are almost there, and I agree that breaking the resistance convincingly can lead to a FOMO.

We’re still on $50k level as of posting as Bitcoin is trying to stabilize on this level and later on will break the resistance. If FOMO will happen, then we can be able to reach the price of $55k because that’s the time where small investors will come it. The price is on a good candles, we must remain on this level to continue the trend.

And unfortunately bitcoin is still struggling with the 50k level, it seemed as if there was a decent chance that we could leave it behind but now we are seeing an important decrease in the price that is probably going to make this not true for at least some more days or even weeks, however this is not as important as it seems, after all we know that is coming and it is inevitable at this point, we just do not know when that is going to happen, but this is not a big issue at all if you are holding your coins for the long term.

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Quote from: jamietao on September 04, 2021, 06:21:01 PM

Bloody hedgies playing games again. They ripped it up to $60k. Then ripped it down to $30k. Now ripped it back up to $50k. And once we get get close to $55k, they'll rip it back down again to $30k and maybe even below as people lose confidence. And once everything thinks its over, they'll rip it back up again. Rinse and repeat and profit. Fucking hedgies.

Yeah, that's the dangerous game we played here, whales and hedge fund managers ripping in our throat.

Nevertheless, everyone here is for the money, so go with the flow. If it goes down hard to $30k, then fill up our bags and wait, rinse and repeat.

It did jump to $50k, but not enough momentum to push again to $50++. Some entity is dragging the price down a bit and it seems they doesn't want the price to go above $50k for now.

jamietao

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Bloody hedgies playing games again. They ripped it up to $60k. Then ripped it down to $30k. Now ripped it back up to $50k. And once we get get close to $55k, they'll rip it back down again to $30k and maybe even below as people lose confidence. And once everything thinks its over, they'll rip it back up again. Rinse and repeat and profit. Fucking hedgies.

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Quote from: Johnyz on September 04, 2021, 04:54:03 PM

Quote from: Porfirii on September 02, 2021, 01:58:13 PM

I got here via this post.

If I'm not wrong, in the last 24 hours Bitcoin has managed to break $50k resistance before falling back to $49.4k right now. We are almost there, and I agree that breaking the resistance convincingly can lead to a FOMO.

We’re still on $50k level as of posting as Bitcoin is trying to stabilize on this level and later on will break the resistance. If FOMO will happen, then we can be able to reach the price of $55k because that’s the time where small investors will come it. The price is on a good candles, we must remain on this level to continue the trend.

Exactly these small investors will have to take the chance entering while slight downturn exist, but they should bare in mind that potential crash might trigger panic. No choice but to hold for more weeks or even months, if bear market also builds resistance. Hopefully good candles continue to remain to that level, in order to successfully survive on our investments.

Johnyz

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Quote from: Porfirii on September 02, 2021, 01:58:13 PM

I got here via this post.

If I'm not wrong, in the last 24 hours Bitcoin has managed to break $50k resistance before falling back to $49.4k right now. We are almost there, and I agree that breaking the resistance convincingly can lead to a FOMO.

We’re still on $50k level as of posting as Bitcoin is trying to stabilize on this level and later on will break the resistance. If FOMO will happen, then we can be able to reach the price of $55k because that’s the time where small investors will come it. The price is on a good candles, we must remain on this level to continue the trend.

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Quote from: DeathAngel on August 25, 2021, 11:57:43 AM

We’ll pass $50,000 again before too long. Bears are desperately trying to suppress the price but they will not succeed. Resistance is futile, we are in a bull market & we’ll begin our ascent again soon.

The bears got overconfident, after they were able to drive the price to the 30k level they thought they could keep pushing the price down only to find out institutional investors defending that level and buying all the coins that hit the exchanges, this gave the market time to recover the confidence of retail investors and now we are seeing the price to go up again, and I think this is going to be the case until the end of the year in which the price is bound to skyrocket just as it did during 2017.

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Quote from: zanezane on August 30, 2021, 08:02:58 AM

Quote from: bots1 on August 29, 2021, 01:57:08 PM

Bitcoin has been moving in a range of highs and lows over the past few days, indicating a period of consolidation momentum. So, if Bitcoin can hold above $50k, it's a quick move through the volume gap to around $54k which is the next supply zone. The next real resistance zone for BTC is approaching $56k. I think BTC will only be maintained and could reach $56k in the next two or three weeks.

I think that if bitcoin breaks the resistance at 50k and be able to stay there for awhile, 56k is going to be only easy for bitcoin to just pass through because a hard resistance will always be followed by an easy resistance based on my amateur observation.

Right. my observation is also the same that if the $50k price resistance persists for at least a few weeks, then bitcoin will hit a new ATH later this year. Hopefully this hope can be realized soon.

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I got here via this post.

If I'm not wrong, in the last 24 hours Bitcoin has managed to break $50k resistance before falling back to $49.4k right now. We are almost there, and I agree that breaking the resistance convincingly can lead to a FOMO.

Spack17

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In the last 24 hours, Bitcoin managed to break $48k and $49k resistance levels both. Even though it is $48.6k now, I see a potential in Bitcoin to break the $50k resistance level as soon as possible. This can still be hard but it is not impossible. And after breaking it, I'm expecting the price reach $55k and $60k gradually before the end of October.

hello_good_sir

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I think that there is actually too much enthusiasm which is causing some attention to be drawn away from BTC into even more risky asset classes, causing prices to not be able to breach that psychological $50k barrier.

Just look at the bitcoin dominance ratio which is reaching all time low levels.

It's likely that we will be consolidating at the $40k-50k corridor for a while. Don't expect 6 figures within this runup, I'd say.

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Quote from: bots1 on August 29, 2021, 01:57:08 PM

Bitcoin has been moving in a range of highs and lows over the past few days, indicating a period of consolidation momentum. So, if Bitcoin can hold above $50k, it's a quick move through the volume gap to around $54k which is the next supply zone. The next real resistance zone for BTC is approaching $56k. I think BTC will only be maintained and could reach $56k in the next two or three weeks.

I think also 2 - 3 weeks will be enough for Bitcoin to consolidate and pass $50k barrier for a long time and not just for days. I expect a new ATH will occur by the end of the year too.

ene1980

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Quote from: zanezane on August 30, 2021, 08:02:58 AM

~
I think that if bitcoin breaks the resistance at 50k and be able to stay there for awhile, 56k is going to be only easy for bitcoin to just pass through because a hard resistance will always be followed by an easy resistance based on my amateur observation.

I am expecting a minor correction and now the end of the month and hence expect option markets to close some contracts and it is possible that is the reason for the minor correction now and once we are able to breach the psychological barrier of $50k which i think will take sometime to breach but once we do then the market will rally and possibly touch another all time high valuation.

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Quote from: bots1 on August 29, 2021, 01:57:08 PM

Bitcoin has been moving in a range of highs and lows over the past few days, indicating a period of consolidation momentum. So, if Bitcoin can hold above $50k, it's a quick move through the volume gap to around $54k which is the next supply zone. The next real resistance zone for BTC is approaching $56k. I think BTC will only be maintained and could reach $56k in the next two or three weeks.

I think that if bitcoin breaks the resistance at 50k and be able to stay there for awhile, 56k is going to be only easy for bitcoin to just pass through because a hard resistance will always be followed by an easy resistance based on my amateur observation.

Jating

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Quote from: electronicash on August 29, 2021, 09:37:30 AM

Bitcoin ETF (Futures) might be approved, i guess this could be a push for a higher price later.

Obviously, this will be a big boost on the price, but the question is regulators willing to approved this?

Quote from: electronicash on August 29, 2021, 09:37:30 AM

zooming out into the bigger TF like week chart, BTC isn't overbought so it can potentially go more than $50k if there will be another big shot institution that will come. but obviously, when the candles provide a seesaw pattern, it's good to take profit because prices could stay this way for a long time because traders are once again entering an accumulation phase.

I don't think that we are in the overbought zone, we are just above the 200 MA so that's not overbought for me. Maybe what we are seeing in a consolidation again before attempting $50k next week or at the start of September, but no doubt that we are still very much in the bullish phase.

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Bitcoin has been moving in a range of highs and lows over the past few days, indicating a period of consolidation momentum. So, if Bitcoin can hold above $50k, it's a quick move through the volume gap to around $54k which is the next supply zone. The next real resistance zone for BTC is approaching $56k. I think BTC will only be maintained and could reach $56k in the next two or three weeks.

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This one has proved to be a very significant area, was looking at the charts every time it got close to $49k it was losing momentum and going back in the $48k it's more like we have institutional investors shorting the market when it gets here, and until or these are filled I see price to keep trading below this price.

Quote from: electronicash on August 29, 2021, 09:37:30 AM

Bitcoin ETF (Futures) might be approved, i guess this could be a push for a higher price later

Such approvals usually throws market in a bull run but hope they don't keep postponing or delaying it like they usually do. But once it's approved am seeing a new ATH maybe say $70 k

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After breaking out of the $50k price range, some psychological symptoms were overpowered by the bulls with some panicky short wicks(44k-47k). At this critical stage, I see that we need more momentum or stronger spice and that could be Uber Dovish. The market is holding up opportunities to go up but the bottom line is needing the same effects as Elon & Tesla before it.

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Bitcoin ETF (Futures) might be approved, i guess this could be a push for a higher price later.

zooming out into the bigger TF like week chart, BTC isn't overbought so it can potentially go more than $50k if there will be another big shot institution that will come. but obviously, when the candles provide a seesaw pattern, it's good to take profit because prices could stay this way for a long time because traders are once again entering an accumulation phase.

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Quote from: Lucius on August 29, 2021, 08:36:26 AM

Who cares about $50k at all, when it's just the starting point of a much bigger thing that will inevitably happen, maybe in the next few months, and maybe over the next year. I can only say that I agree with @NeuroticFish about the fact that summer holidays in the northern hemisphere are the reason for the slowdown in the market, and someone mentioned that 67% of the world’s wealth is actually in the northern hemisphere. I can say for myself that summer takes me a lot more in some other directions, although I try to stay up to date with everything that happens.

There is quite enough money, the demand is still there, and maybe the next big thing is BTC ETF in the US, which may positively surprise us soon.

Yes, it is not uncommon for the market to slow down a bit in the summer, not just the crypto market. Lately I've been looking back at 2017 and although it was a bit different (it's always different) because of the hard forks, shitcoin cash etc., the big rise came from September 15 or so. Hopefully that will be the case and the $50K will only seem like a small blip.

Lucius

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Who cares about $50k at all, when it's just the starting point of a much bigger thing that will inevitably happen, maybe in the next few months, and maybe over the next year. I can only say that I agree with @NeuroticFish about the fact that summer holidays in the northern hemisphere are the reason for the slowdown in the market, and someone mentioned that 67% of the world’s wealth is actually in the northern hemisphere. I can say for myself that summer takes me a lot more in some other directions, although I try to stay up to date with everything that happens.

There is quite enough money, the demand is still there, and maybe the next big thing is BTC ETF in the US, which may positively surprise us soon.

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The first hurdle of 50k has being crossed and probably for me this was the biggest huddle as rising form 30k to 50k was never going to be an easy one. But now I am positive about the next few levels which is 60k and 70k which we may see in coming months only.

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Quote from: cafucafucafu on August 28, 2021, 07:00:14 PM

Yeah, definitely a big psychological resistance here.

Psychologically resistance ? nope it does really broken lol.

50k is once again going on now as the price needs to reach 50k again from 49k now.

Quote

I think that if we are able to break through that level then we would be in for a trend reversal and see the bulls resurge to the $60k level to test the ATH.

it does not happened mate, lets see since we are close back again now.

Quote

But if not, we're probably going to see a correction down to $35k again to test support there. Either way, I think that with the institutional presence this time round we're more likely to get a band of stability compared to the volatility that we've seen in the past.

nope there is no correction that falls that low, the lowest is 46,000 and now climbing back to 50,000 again.

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

and the graph is working good now here >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

cafucafucafu

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Yeah, definitely a big psychological resistance here.

I think that if we are able to break through that level then we would be in for a trend reversal and see the bulls resurge to the $60k level to test the ATH.

But if not, we're probably going to see a correction down to $35k again to test support there. Either way, I think that with the institutional presence this time round we're more likely to get a band of stability compared to the volatility that we've seen in the past.

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Quote from: hatshepsut93 on August 28, 2021, 06:38:28 PM

The recent chart looks to me like a smaller version of the $30k to $64k movement - first it started very fast but then slowed down and after that came a crash. I will not be surprised if a crash will come soon. Both charts mean that after a resistance was failed to be broken after a few tries and bullish momentum was lost, investors start to take profits because they don't see a potential for upside in short term.

Really interesting what will happen in the next couple of weeks. Can we surpass the 50k mark and sustain that level for long? But with good news coming from countries like Cuba, in addition with El Salvador, this creates positive vibes in the market. Now, we are just waiting for other countries to follow their move. And also, for other big companies to add bitcoin in their payment method.

hatshepsut93

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The recent chart looks to me like a smaller version of the $30k to $64k movement - first it started very fast but then slowed down and after that came a crash. I will not be surprised if a crash will come soon. Both charts mean that after a resistance was failed to be broken after a few tries and bullish momentum was lost, investors start to take profits because they don't see a potential for upside in short term.

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well it seems to me the resistance that is at $50500 is very strong and in the 3 attempts that bitcoin made to break that resistance it was pushed down to the point of falling to the support that is at $46200, currently bitcoin is trading between the $46000 support to $49,000 resistance, in the next few days I believe we will see in which direction it will either break the resistance or break the support and fall

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Quote from: Bex500 on August 24, 2021, 04:14:04 AM

On the daily chart, Bitcoin has been trading inside a rising wedge pattern for the past few days. The bulls flipped the $49,000 level to support on Aug. 23 and pushed the price above the psychological level of $50,000. After crossing above EMA100 line, BTC found support on the MA20 ($45.9k) . The relative strength index (RSI) is near overbought levels, which could encourage profit taking around resistance. However, Upside momentum is strengthening on the daily chart, which suggests buyers are in control. The critical zone bitcoin needs to reclaim is $55,000-$58,000.

More details:https://www.bex500.com/college/category?cid=57&aid=299

For me, I would love to see price surpass $50k once again and after the wave five resistance break that's the time btc stabilize within range of $50k to $60k attempts.
On this stage, momentum became stronger and we will be able to see a great pumps in the near future and have another Bitcoin ATH.

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Quote from: mrjoy15 on August 28, 2021, 12:34:43 PM

Quote from: asrinur on August 28, 2021, 05:44:15 AM

Bitcoin price continued to rise and managed to break through the $50,000 level. This upward trend is expected to continue and potentially touch the $100,000 level this year. Bitcoin continues to show a positive trend has passed its key psychological level, at $50,000, which marks a strong dominance of investor interest. Is it really going back in Bearish, or will it be a minor correction after crossing $50,000. All of that is a confirmation priority for us, by sticking to bitcoin's strong fundamentals over the long term.

We enter into bullish zone and these dumps are the correction. Bitcoin is trading between $47K~$49K for a while. There is a heavy selling pressure, despite that $49K momentum good sign to see further move. Bitcoin market is turning into green, this weekend is going to be massive. As per market a analysis it will goes to 50k shortly.

I wouldn't call this dump though, just the normal dips during weekend as trader are cashing out for their two days rest, and taking profits. We have entered bullish zone once we goes above that lowest low for this year which is about $29k. And there's no heavy pressure to sell right now as everyone is anticipating another run to $50k-60k up to September. But it won't be an easy sailing as we will encounter this minor dips along the way.

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Quote from: asrinur on August 28, 2021, 05:44:15 AM

Bitcoin price continued to rise and managed to break through the $50,000 level. This upward trend is expected to continue and potentially touch the $100,000 level this year. Bitcoin continues to show a positive trend has passed its key psychological level, at $50,000, which marks a strong dominance of investor interest. Is it really going back in Bearish, or will it be a minor correction after crossing $50,000. All of that is a confirmation priority for us, by sticking to bitcoin's strong fundamentals over the long term.

We enter into bullish zone and these dumps are the correction. Bitcoin is trading between $47K~$49K for a while. There is a heavy selling pressure, despite that $49K momentum good sign to see further move. Bitcoin market is turning into green, this weekend is going to be massive. As per market a analysis it will goes to 50k shortly.

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Quote from: slaman29 on August 27, 2021, 05:34:09 AM

Quote from: NeuroticFish on August 26, 2021, 09:22:26 AM

50k was broken in August.. a month known or being slow for businesses due to holidays.
What happens now is probably refueling the rocket. September starts, school and work start or get back to normal, traders and institutional investors will be again full power and I expect the price get to new heights: touching and surpassing the last ATH, then, why not, 100k and beyond.

I never really thought much about all the seasonal effects that normally affect markets. There used to be the thing about Christmas, about Chinese lunar year, even about monsoon floods in china but I never really thought they made a difference.

Or if they used to they don't seem to with every passing year. Of course if things happen as you say, you will not see me complaining at all.

Historically though, last quarter seems to be strong upswing in price just like last year. It might not always have some correlation, but around Christmas time or at least the month of December was a huge jump in prices. I'm not sure above other holidays though, specially the Chinese Lunar year, it's been a hit or miss lately. So I will be optimistic that come December we might see a new all time high. It might not be in the 6 digit numbers, but definitely more than the last ATH we have.

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Quote from: Bex500 on August 24, 2021, 04:14:04 AM

On the daily chart, Bitcoin has been trading inside a rising wedge pattern for the past few days. The bulls flipped the $49,000 level to support on Aug. 23 and pushed the price above the psychological level of $50,000. After crossing above EMA100 line, BTC found support on the MA20 ($45.9k) . The relative strength index (RSI) is near overbought levels, which could encourage profit taking around resistance. However, Upside momentum is strengthening on the daily chart, which suggests buyers are in control. The critical zone bitcoin needs to reclaim is $55,000-$58,000.

More details:https://www.bex500.com/college/category?cid=57&aid=299

just few hours of this post mate, bitcoin did break the 50k price and stays for two days and then fell down back to 46k.

Quote from: StreakW on August 26, 2021, 06:52:53 AM

The price of bitcoin experienced a bullish trend in the last five weeks. I estimate the price of bitcoin still has room to rise again. In the near future, I think the price of bitcoin will move in the range of $51k to $64k.

of course in future but the main objective is when ? will this be coming this year or in the next 3-4 years again when halving comes in situation .

but of course 50k is what we wanted to stay in this whole year at least.

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Bitcoin price continued to rise and managed to break through the $50,000 level. This upward trend is expected to continue and potentially touch the $100,000 level this year. Bitcoin continues to show a positive trend has passed its key psychological level, at $50,000, which marks a strong dominance of investor interest. Is it really going back in Bearish, or will it be a minor correction after crossing $50,000. All of that is a confirmation priority for us, by sticking to bitcoin's strong fundamentals over the long term.

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Quote from: NeuroticFish on August 26, 2021, 09:22:26 AM

50k was broken in August.. a month known or being slow for businesses due to holidays.
What happens now is probably refueling the rocket. September starts, school and work start or get back to normal, traders and institutional investors will be again full power and I expect the price get to new heights: touching and surpassing the last ATH, then, why not, 100k and beyond.

I never really thought much about all the seasonal effects that normally affect markets. There used to be the thing about Christmas, about Chinese lunar year, even about monsoon floods in china but I never really thought they made a difference.

Or if they used to they don't seem to with every passing year. Of course if things happen as you say, you will not see me complaining at all.

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50k was broken in August.. a month known or being slow for businesses due to holidays.
What happens now is probably refueling the rocket. September starts, school and work start or get back to normal, traders and institutional investors will be again full power and I expect the price get to new heights: touching and surpassing the last ATH, then, why not, 100k and beyond.

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We’ll blast past $50,000 within the next month or so. The bull run will really pick up again in Q4 & we’ll see multiple ATH’s before the end of the year.

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The price seems to make a deep correction today as we see the price reach $46,700 and the trend looks not to increase too much. If this situation continues, the price could go below and reach $45,000 but hopefully, the price can stay at the current price this week. It is the opportunity to buy more bitcoin while the price is low so we will have the chance to sell it later when the price starts to increase. But if you doubt that the price will rise again this week, you can wait without doing anything. But bitcoin prices have the opportunity to back to $50,000 or $60,000 in the future.

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Quote from: DeathAngel on August 25, 2021, 11:57:43 AM

We’ll pass $50,000 again before too long. Bears are desperately trying to suppress the price but they will not succeed. Resistance is futile, we are in a bull market & we’ll begin our ascent again soon.

Totally agree, I don't it's just the bears that are causing this, I think that some people have already taken a profit at 50k so it has fallen down back to 40k+ price range. If anyone wants to buy now, you might want to go fast because being late isn't going to do you any good.

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The price of bitcoin experienced a bullish trend in the last five weeks. I estimate the price of bitcoin still has room to rise again. In the near future, I think the price of bitcoin will move in the range of $51k to $64k.

STT

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Flat numbers dont matter, price varies in every countries currency globally. Main thing is the market moves in waves and part of that is the price receding from speculators taking profits, paying off their leverage and so on. It will always be like that to some extent, I just want to know how much of a pullback. The 200 day average seems the easiest target, we've tested and now passed below the weekly average price.

pooya87

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$50k is just another number that bitcoin will smash through sooner or later and what we are seeing these days is just day traders' nonsense when they pull out their short term profit to put it back in later. What I'm more interested in is why was the FOMO small, does it mean the market participants are becoming more mature (which is unlikely) or is it that the sell pressure from manipulators still strong because they can't accept defeat?

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Quote from: virasog on August 25, 2021, 02:21:09 PM

Quote from: DeathAngel on August 25, 2021, 11:57:43 AM

We’ll pass $50,000 again before too long. Bears are desperately trying to suppress the price but they will not succeed. Resistance is futile, we are in a bull market & we’ll begin our ascent again soon.

We don't need to worry much as bulls are strong this time and also the fundamentals of bitcoins are very strong. No one is willing to sell and bitcoin will pass the 50,000$ very soon. Currently we see that bears are trying to push the price down but they can't keep it down for long. Bitcoin is now again near 49000$

A psychological resistance zone is $50K, while a critical resistance zone is $51K. Now, bitcoin is down $48K as analysts look for next zones for a possible bounce. Bitcoin is heading down to test a new support level. Observing buy and sell on major exchanges, we have determined that $47K is the closest strong support level.

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Quote from: hugeblack on August 25, 2021, 01:25:19 PM

Personally, I do not see that there is a psychological barrier at 50 thousand dollars, but rather at one trillion market capacity, which represents about 54K USD, and therefore all prices below this top mean that the price will fluctuate until it is broken, and therefore it is difficult for the price to return without that.
In other words, if the price breaks the 50K USD, it will not constitute a change, or we will not return below those levels (a psychological barrier).

Yep, I don't think this one's a 50k thing at this stage (60 is the natural psychological barrier as it also happens to be ATH). Bears definitely see 1 T as the failure to keep tabs on crypto, so even with market pressure on selling, new coins entering circulation will keep pushing back and then when they get tired and the barriers break, we'll not be stepping backwards.

bbc.reporter

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Quote from: hugeblack on August 25, 2021, 01:25:19 PM

It is best to add charts because they show the information you want to convey quickly.

Personally, I do not see that there is a psychological barrier at 50 thousand dollars, but rather at one trillion market capacity, which represents about 54K USD, and therefore all prices below this top mean that the price will fluctuate until it is broken, and therefore it is difficult for the price to return without that.
In other words, if the price breaks the 50K USD, it will not constitute a change, or we will not return below those levels (a psychological barrier).

The RSI in that chart might be wrong. All of the charts from major exchanges show a descending RSI and form a bearish divergence. Bitcoin is also presenty breaking the trend, however, if this day’s candle returns above this trendline it might be okay hehe.

TravelMug

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Quote from: virasog on August 25, 2021, 02:21:09 PM

Quote from: DeathAngel on August 25, 2021, 11:57:43 AM

We’ll pass $50,000 again before too long. Bears are desperately trying to suppress the price but they will not succeed. Resistance is futile, we are in a bull market & we’ll begin our ascent again soon.

We don't need to worry much as bulls are strong this time and also the fundamentals of bitcoins are very strong. No one is willing to sell and bitcoin will pass the 50,000$ very soon. Currently we see that bears are trying to push the price down but they can't keep it down for long. Bitcoin is now again near 49000$

Bears are getting weak because we are in a bull run, and if they continue to go short on btc, they will get REKT for sure. Personally, I'm not worried, sooner or later that $50k "Psychological Hurdle" will be broken. The bullish trend will continue as we enter the last quarter of this year.

Now that someone touches about bitcoin future contracts, if anyone wanted to see the calendar:

https://www.cmegroup.com/markets/cryptocurrencies/bitcoin/bitcoin.calendar.html#

So last trade will be tomorrow, so expect the price to fluctuate again.

Dave1

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^ I agree that the bitcoin future has a net negative effect except when we are in a super fast rally like in October-April of last year. But this happens on the last week or so of every month and after that the price seems to bounce again.

So in this case we have seen the price dip already because of the close of bitcoin future contracts so for me, we will see a good recovery before the end of August.

aoluain

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Quote from: Baofeng on August 25, 2021, 01:56:50 PM

Quote from: ?? on ??

I agree that bitcoin is taking a new upward trend, but we should not forget that fundamental factors are also very influential in this direction, and we just shouldn't rely on technical analysis.

Given that the fundamentals are getting stronger by the day, it's good to look at technical analysis as well and see if they jive. Of course, we shouldn't rely on technical analysis as this is not an exact science, but majority of us here uses it as a sort of a guide because it definitely helps.

So that round number again, we have breach it already, but not enough to really hold on it and sustain. Maybe the second try is going to be different and we can reclaim it again before the end of the week.

So I've been chatting to a friend who does a bit of trading and understands the charts,
it seems that there are 3 futures closing in the next few days and the value of $49k
is not an ideal for any of them, looks like we wont be crossing $50k much for the
next few days.

Also on the radar but not talked about much is an incoming "Golden Cross".
This article from the 10th states a number of days but it has not formed.
https://cointelegraph.com/news/bitcoin-golden-cross-due-in-days-as-bears-draw-a-line-at-47k-btc-price

Historically the Golden Cross resulted in Bitcoin "taking off" so it will be interesting
to see if this time, the GC forms and if it helps Bitcoin cross $50k and by how much.

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Quote from: DeathAngel on August 25, 2021, 11:57:43 AM

We’ll pass $50,000 again before too long. Bears are desperately trying to suppress the price but they will not succeed. Resistance is futile, we are in a bull market & we’ll begin our ascent again soon.

We don't need to worry much as bulls are strong this time and also the fundamentals of bitcoins are very strong. No one is willing to sell and bitcoin will pass the 50,000$ very soon. Currently we see that bears are trying to push the price down but they can't keep it down for long. Bitcoin is now again near 49000$

$crypto$

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Quote from: cryptomaniac_xxx on August 25, 2021, 01:36:58 PM

Quote from: DeathAngel on August 25, 2021, 11:57:43 AM

We’ll pass $50,000 again before too long. Bears are desperately trying to suppress the price but they will not succeed. Resistance is futile, we are in a bull market & we’ll begin our ascent again soon.

We're above to break $49k again, if that happens then obviously $50k will be the next target. $50k has been breach already, but it wasn't sustainable, but I do believed that once we touch it again, there could be FOMO to push the price even further.

Bears don't have the control of the market. Many few occasional dips, but I doubt that they can pull down the market just like when we are below $40k.

No more FOMO push to affect bitcoin but it's only corrected then the climb will start again, as far as I can see it won't be long and will see $50k in the nearest future and the bullrun will definitely continue even if there is FUD around us , but believe the challenges will soon be passed.

The bear will not be spinning for sure this will remain stable after looking at the previous history, even I carved at the time a few months ago to make sure that slowly the increase occurred during the following month.
The wait begins and the climb will soon be at the top.

jakdanyel

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Bitcoin price got a correction right after it went over $50k. But it started recovering already and the price is $49k now. From now on, I think that it shouldn't be so hard for Bitcoin to break the $50k resistance again. And then, the most critical level will be $55k. If it manages to reach this level, I think it will have a little correction again. But this time, I don't think that the price will go down below $50k.

Baofeng

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Quote from: ?? on ??

I agree that bitcoin is taking a new upward trend, but we should not forget that fundamental factors are also very influential in this direction, and we just shouldn't rely on technical analysis.

Given that the fundamentals are getting stronger by the day, it's good to look at technical analysis as well and see if they jive. Of course, we shouldn't rely on technical analysis as this is not an exact science, but majority of us here uses it as a sort of a guide because it definitely helps.

So that round number again, we have breach it already, but not enough to really hold on it and sustain. Maybe the second try is going to be different and we can reclaim it again before the end of the week.

cryptomaniac_xxx

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Quote from: DeathAngel on August 25, 2021, 11:57:43 AM

We’ll pass $50,000 again before too long. Bears are desperately trying to suppress the price but they will not succeed. Resistance is futile, we are in a bull market & we’ll begin our ascent again soon.

We're above to break $49k again, if that happens then obviously $50k will be the next target. $50k has been breach already, but it wasn't sustainable, but I do believed that once we touch it again, there could be FOMO to push the price even further.

Bears don't have the control of the market. Many few occasional dips, but I doubt that they can pull down the market just like when we are below $40k.

hugeblack

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It is best to add charts because they show the information you want to convey quickly.

Personally, I do not see that there is a psychological barrier at 50 thousand dollars, but rather at one trillion market capacity, which represents about 54K USD, and therefore all prices below this top mean that the price will fluctuate until it is broken, and therefore it is difficult for the price to return without that.
In other words, if the price breaks the 50K USD, it will not constitute a change, or we will not return below those levels (a psychological barrier).

DeathAngel

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We’ll pass $50,000 again before too long. Bears are desperately trying to suppress the price but they will not succeed. Resistance is futile, we are in a bull market & we’ll begin our ascent again soon.

Bex500

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On the daily chart, Bitcoin has been trading inside a rising wedge pattern for the past few days. The bulls flipped the $49,000 level to support on Aug. 23 and pushed the price above the psychological level of $50,000. After crossing above EMA100 line, BTC found support on the MA20 ($45.9k) . The relative strength index (RSI) is near overbought levels, which could encourage profit taking around resistance. However, Upside momentum is strengthening on the daily chart, which suggests buyers are in control. The critical zone bitcoin needs to reclaim is $55,000-$58,000.

More details:https://www.bex500.com/college/category?cid=57&aid=299

Topic: BTC Bull Attempts to Break $50,000 - A Psychological Hurdle as well as The Next (Read 410 times)