BTC has broken the $40k barrier, next test is $31k, then on to $10k

STT

legendary

Activity: 4102

Merit: 1454

I would give estimate of 15k for even a disaster level sell off because thats an old trend that'll catch it. Just 30k to 20k is hitting the buffers and slowing it down alot, wild or sharp candle moves that reach but also reverse can go deeper hence I say 15k could fit into a more extreme move. However we aren't near to that negative falling knife scenario, ie. people get scared to catch it hence it slices a bit more easily.
Its actually more dangerous when forming a regular pattern, so a number series of highest prices in 2 day trading boxes and each high is lower then the last observed. Similarly a pattern of lows that undermine previous lowest price, does so regularly develops a momentum and pressure of its own. Trading moves or pullback can amount to liquidity cashing out profits, we have to try and recognize which behavior matches well.

Right now, just a plain retraction from 200 day moving average. We have a reluctance at this point that makes it look like a ceiling, normal price action not something to get too hung up on.

JohnBitCo

sr. member

Activity: 2030

Merit: 356

Quote from: ?? on ??

10k? Nice.

We have a CME gap below 10,000$ but i don't think bitcoin can fall to 10,000$. As per the previous data analysis, once the bitcoin crosses, the all time high, it never goes below its previous all time high. So technically bitcoin should not fall below 19,7000$ but we never know.

btc-room101

member

Activity: 182

Merit: 30

Quote from: Kong Hey Pakboy on May 27, 2021, 03:18:10 AM

Quote from: btc-room101 on May 24, 2021, 07:12:28 AM

To go to $100k or higher would be bigger than the USA GDP, do you have any idea where this money is going to come from?

So what if it becomes bigger than USA's GDP? Will we unlock superpowers will the end of the world events will trigger when this happens? Also, I think a lot of people are going to have an idea where is the money coming from, and I think that it will come from the money of the people.

This is why their plugging aliens, for BTC go to above $500k, all the money on earth an then some, so we need martians, reptillians, an hobglobans from uranus to come and buy btc, well HODL on garth

Like I said its going to $10K long before it climbs back up to $50k

It's amazing the shitcoin has gone this high, largely because of covid, but that money is gone, and the morons who rose btc from 30k to 60k have had their arses burned, and most are not coming back

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

Quote from: btc-room101 on May 24, 2021, 07:12:28 AM

To go to $100k or higher would be bigger than the USA GDP, do you have any idea where this money is going to come from?

So what if it becomes bigger than USA's GDP? Will we unlock superpowers will the end of the world events will trigger when this happens? Also, I think a lot of people are going to have an idea where is the money coming from, and I think that it will come from the money of the people.

Rengga Jati

hero member

Activity: 2156

Merit: 670

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: btc-room101 on May 19, 2021, 01:22:25 AM

40% loss of capitalization in just a few days, 500 BILLION US DOLLARS lost, and more to come. ( $1.2T is now $740B )

Next test is $10k

Actually losing more than 40% only in several hours Cheesy

But, are you sure that it will go to $10k soon?
Wow, it is a fud?
BTC price is exactly crashing and has broken the resistance for a deeper down price. however, I am not sure that the price will go to $10k soon. It have reached $30k and then it could rise again.
I also realize that today, the rate of BTC is not safe enough. Moreover, it is not reaching $42k yet to get the higher price. Today's price is $38,966.67. If this cannot reach $42k soon, it may get dropped again.
But, let's see what will happen.
There is still hope for the BTC market. And if it is dropped, just hold and wait for at least Q4 of this year.

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

Quote from: KryptoKings on May 26, 2021, 02:27:30 PM

Quote from: btc-room101 on May 19, 2021, 01:22:25 AM

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

Well its here

Musk bought in at $42k, rose it up to $66k, bailed at $50k, and now falling like a rock to $31k

So all the CORPORATE buy-in of BTC has now been lost.

40% loss of capitalization in just a few days, 500 BILLION US DOLLARS lost, and more to come. ( $1.2T is now $740B )

Next test is $10k

HODL on morons, suckers; The whales, and corporations are all heading for the exits, the bag-holders as always will be the HODL'rs

Enormous pressure will now be on BIDEN to make good on all the pensions and unions that bought into the COVID rise of BTC.

Glad that your assumptions turned wrong. I think you are a noob in this field. It is nothing new in btc and crypto market. We have seen some bigger crashes and bigger bull runs too.
This is a part and parcel of crypto life. If you get panicked, you better stay away.

We are cannot predict accurately on what will happen to the market so expect that many people will be wrong on what they though on what will be the next movement of the market. And gladly we are bouncing back again and so lucky for people who bought at the dip and not get panic on the situation.

LUCKMCFLY

legendary

Activity: 2632

Merit: 1883

Leading Crypto Sports Betting & Casino Platform

The price of BTC has given good news for the hodlers, I think the storm is over, so far the bulls are giving good results to all these efforts to maintain the price, the bearish have attacked but the bulls have won these battles :

Quote

If the price turns down from the current level, the bears will try to pull the price down to $34,000. This is an important support to watch because if it cracks, the BTC/USDT pair could retest the critical support at $30,000.

Source: https://cointelegraph.com/news/price-analysis-5-26-btc-eth-bnb-ada-doge-xrp-dot-icp-uni-bch

The lowest according to the analyst is that it reaches $ 34k, although it is an open and possible scenario I do not think it will happen for now, but it is a matter of waiting, in the market anything can happen, but I do not think it will touch the levels of $ 30k or less.

KryptoKings

hero member

Activity: 854

Merit: 506

Quote from: btc-room101 on May 19, 2021, 01:22:25 AM

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

Well its here

Musk bought in at $42k, rose it up to $66k, bailed at $50k, and now falling like a rock to $31k

So all the CORPORATE buy-in of BTC has now been lost.

40% loss of capitalization in just a few days, 500 BILLION US DOLLARS lost, and more to come. ( $1.2T is now $740B )

Next test is $10k

HODL on morons, suckers; The whales, and corporations are all heading for the exits, the bag-holders as always will be the HODL'rs

Enormous pressure will now be on BIDEN to make good on all the pensions and unions that bought into the COVID rise of BTC.

Glad that your assumptions turned wrong. I think you are a noob in this field. It is nothing new in btc and crypto market. We have seen some bigger crashes and bigger bull runs too.
This is a part and parcel of crypto life. If you get panicked, you better stay away.

justdimin

hero member

Activity: 3220

Merit: 678

www.Crypto.Games: Multiple coins, multiple games

Quote from: STT on May 24, 2021, 02:14:52 AM

Markets dont usually break in one stretch, more likely in stages but it does seem volume favors continued weakness. Right this moment its pushing past 2 day average and could be positive all day for all I know. General rule is we do not move in straight lines (it'd be easy trading profit if every move was so simple) but weakness will continue until resolved.
Not far above is an old trend which appears as some ceiling, its not serious resistance but there are many obstacles now in the way. First run up after breaking out past 20k will prove far easier then repeating the same now after sellers appear in these prices from prior holds.

I believe that those lines are going to be a bit more smooth during these type days, only not so smooth and linear when they are looked at a longer period. One day's move could be as linear as it can get whereas when you look at weekly it becomes a bit more up and down and when you look at monthly it's even more different. This is why I am not entirely sure if we should look at daily or weekly or monthly.

However I agree that there is a resistance now, that is the bad and difficult part of this downtrend right now, going back up was easier a few days ago when it was brand new, but now there are some walls getting built and that will make things harder when we want to go up higher again, that is why I think it is going to be a bit harder and that is why I think we will not be going back to 60k levels anytime soon, probably not again this year at all, that is how it looks.

However bitcoin is known to break over resistance and below support whenever it wants so it is not guaranteed.

decodx

hero member

Activity: 1456

Merit: 940

🇺🇦 Glory to Ukraine!

Quote from: btc-room101 on May 24, 2021, 07:12:28 AM

To go to $100k or higher would be bigger than the USA GDP, do you have any idea where this money is going to come from?

There's no denying that math isn't everyone's forte.

FatFork

legendary

Activity: 1820

Merit: 2700

Crypto Swap Exchange

Quote from: btc-room101 on May 24, 2021, 07:12:28 AM

$66k was $1.2 TRillion USD Capitilization larger than any USA corporation, bigger than most military budgets on earth

To go to $100k or higher would be bigger than the USA GDP, do you have any idea where this money is going to come from?

Don't talk nonsense. You don't understand how market capitalization works.

If we are already talking about some of the top companies, here are some facts:
Apple (AAPL)
Market cap: $2.093 T (ATH at $2.4 T)
Microsoft (MSFT)
Market cap: $1.847 T (ATH at $1.97 T)
Amazon (AMZN)
Market cap: $1.615 T (ATH at $1.75 T)
Google (GOOG)
Market cap: $1.554 T
source: https://companiesmarketcap.com/assets-by-market-cap/

Besides, have you ever heard of Gold market cap? Do you have any idea where that money comes from?

AmoreJaz

legendary

Activity: 3122

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: adaseb on May 23, 2021, 09:35:19 PM

The next real support if $30K breaks is most likely $20K and I have a feeling that there is going to be tons of traps in that area. Most likely we will either never touch $20K but instead go close to like $22 or $21K before heading higher, or we will go to $20K, people will buy and then boom, it will break $20K go to like $18K and then go up again.

Or it'll be like 2018, where we go to $10K it looks like support and then breaks it and doesn't retest $10K until years later. And its very possible this might be the outcome unless all this FUD stops especially with what is going on in China and with coal electricity powering bitcoin miners. However I don't think we will ever go to $10K. Maybe lowest low is $18K or maybe the 200 WMA.

i also don't think that we will reach the $10k level this time. i believe, with the support from various entities, which was not seen in previous years, that will be a solid reason why going down to that level is difficult to transpire. we may have touched the 31k mark, but 10k? i believe that's too much to wish for btc.
fud or not, everyone is free to express their opinions here. but sometimes we need to be realistic with our forecast.
maybe visit the post again of mk4 at the first page, where he posted the bitcoin stock to flow model from digitalikNet, where you can find also the live chart here . and see for yourself if 10k is possible using this model

btc-room101

member

Activity: 182

Merit: 30

Quote from: Kittygalore on May 24, 2021, 02:52:26 AM

Quote from: hotpassion on May 23, 2021, 09:46:10 PM

Any one who are still uncertain about the BTC price just remember this simple fact: BTC is the King of cryptos. BTC will only die when the whole crypto world disappear. Do you think the crypto world will disappear? BTC may crash down to 20k or even 10k but it will bounce back to 100k+ inevitable in a matter of months.

I do agree that it will bounce back but I don't think that it will be able to do it within a months time, remember that the market had a hard time going up to 60k and then it went to a 50k limbo, I think that 100k takes a lot of time before it can happen.

$66k was $1.2 TRillion USD Capitilization larger than any USA corporation, bigger than most military budgets on earth

To go to $100k or higher would be bigger than the USA GDP, do you have any idea where this money is going to come from?

btc-room101

member

Activity: 182

Merit: 30

Quote from: Oasisman on May 20, 2021, 05:47:16 AM

Another FUD! smfh.
Do you have anything more interesting than this one?
This is such an old FUD.
Do you have any proof about Tesla selling their Btc holdings? And do you have proof about corporate investors exiting the market?
If you do, then update it in your OP, because what we believe is happening with the Btc price today is just a normal correction/ consolidation period.

I called this a week ago, and it did break the $31k, and the $10k is a coming, truth is a bitch

Kittygalore

member

Activity: 868

Merit: 63

Quote from: hotpassion on May 23, 2021, 09:46:10 PM

Any one who are still uncertain about the BTC price just remember this simple fact: BTC is the King of cryptos. BTC will only die when the whole crypto world disappear. Do you think the crypto world will disappear? BTC may crash down to 20k or even 10k but it will bounce back to 100k+ inevitable in a matter of months.

I do agree that it will bounce back but I don't think that it will be able to do it within a months time, remember that the market had a hard time going up to 60k and then it went to a 50k limbo, I think that 100k takes a lot of time before it can happen.

STT

legendary

Activity: 4102

Merit: 1454

Markets dont usually break in one stretch, more likely in stages but it does seem volume favors continued weakness. Right this moment its pushing past 2 day average and could be positive all day for all I know. General rule is we do not move in straight lines (it'd be easy trading profit if every move was so simple) but weakness will continue until resolved.
Not far above is an old trend which appears as some ceiling, its not serious resistance but there are many obstacles now in the way. First run up after breaking out past 20k will prove far easier then repeating the same now after sellers appear in these prices from prior holds.

Fundamentals Of

sr. member

Activity: 2380

Merit: 366

I will continue hodling despite your negative forecast. I had hodled my Bitcoin in the face of death-of-Bitcoin predictions a number of times. If I successfully hodled in the past when the price of Bitcoin was only $3,000, there is no reason why would I not hodl stronger today when the price is more than 1,000% higher. I hodled my Bitcoin in the past when the goal was simply to get back at $20,000. There is no reason why I should be afraid to hodl today when the short term price target is $100,000.

hotpassion

member

Activity: 155

Merit: 21

Any one who are still uncertain about the BTC price just remember this simple fact: BTC is the King of cryptos. BTC will only die when the whole crypto world disappear. Do you think the crypto world will disappear? BTC may crash down to 20k or even 10k but it will bounce back to 100k+ inevitable in a matter of months.

adaseb

legendary

Activity: 3808

Merit: 1723

The next real support if $30K breaks is most likely $20K and I have a feeling that there is going to be tons of traps in that area. Most likely we will either never touch $20K but instead go close to like $22 or $21K before heading higher, or we will go to $20K, people will buy and then boom, it will break $20K go to like $18K and then go up again.

Or it'll be like 2018, where we go to $10K it looks like support and then breaks it and doesn't retest $10K until years later. And its very possible this might be the outcome unless all this FUD stops especially with what is going on in China and with coal electricity powering bitcoin miners. However I don't think we will ever go to $10K. Maybe lowest low is $18K or maybe the 200 WMA.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

Quote from: ?? on ??

10k? Nice.

With such a price, the whales and corporations he meant will grab as much as they can. Its nice for them. The narrative to go below 30K seems not happening but we'll just see.

It's a good thing that Mike Saylor is countering the fud online already, I think there should also be a massive countering Bitcoin FUD and attacking the loss of USD value because of the trillions they print so that people will also see why there is a war among currencies.

Topic: BTC has broken the $40k barrier, next test is $31k, then on to $10k (Read 510 times)