I wouldn't discount the potential for a deeper correction, but I don't think there's anything wrong about otherwise. I expect a sideway between $29k - $31k, but if a correction occurs then I don't expect bitcoin price to drop any lower than $26k.
I chose "no", that's because I think new investors will take advantage of this momentum to invest. Some long time investors will also accumulate, but I don't expect bullishness to happen in August.
Topic: BTC Sentiment Poll for August - page 5. (Read 603 times)
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I think Bitcoin's price didn't really do that bad last month; although I thought it could do better and get at least up to $34k, it never did, and I still don't think that in this month, it's going to show some bullish movement; the market might keep the range of $27k–$32k. I am not really so bullish about the market this month, but never say never; volatility never ceases to surprise us.
I predict that for August the price of Bitcoin would be at most $37k USD and at least $27k. I don't know why but I am in between bearish and bullish... I think that it is because of the SEC and crypto firms court cases that is still ongoing they have a potential to significantly affect the market.
28k is not a long-term support or resistance point, so we cannot use it as a reference to predict the price. We can say that whether the price will be less than $30,000 or will it be less than $26,000, will it pass the $32,000 point, as all of them represent support and resistance points in the medium and long term.
In this month, there are many factors that will pressure the price, including:
So I think we will be at some point less than $32,000.
In this month, there are many factors that will pressure the price, including:
- It's summer when everyone's outside and there's not much trading going on.
- The results of the third quarter will begin to take shape, so there is no active movement.
- The interest rate hike (which may occur at the next meeting) will be calculated this month, which will put pressure on the price.
So I think we will be at some point less than $32,000.
I have that feeling saying the price gradual drop may continue since it has finally broken the $30k and nothing yet holding it back. We may see price around $25k by this August. This is prediction and not a professional advise just incase someone is looking at it for invest, just be guided towards your investment anything can happen with bitcoin volatility.
I voted no because I believe that at the point we are at the price has to start going up. I don't expect any stratospheric rise, but I would say a sustained rise with some ups and downs typical of the pre-halving year. What we are experiencing these last few months is basically monotony, which at some point has to break to the upside.
Just like what we have predicted on this thread is happening: https://bitcointalksearch.org/topic/m.62567787
I still remain bearish. But anything can happen, this is just a prediction. If bitcoin price plummet, $25000/$26000 would be a strong support.
I still remain bearish. But anything can happen, this is just a prediction. If bitcoin price plummet, $25000/$26000 would be a strong support.
July didn't end well but it wasn't as bad as how it feels. It's just down a tad over 4% for the month. I'd say that's not bad and could still be considered somewhat sideways even tho it was a red month. Yeah... And with momentum going down a bit, time for a new sentiment poll for this month.
As always here's the monthly chart and how July ended. Not what I expected but it is what it is. Stay safe out there guys.
As always here's the monthly chart and how July ended. Not what I expected but it is what it is. Stay safe out there guys.
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