Topic: BTC Sentiment Poll for June (Read 679 times)

Tf just happened?  Went out for a couple of hours to watch some F1 and drink a bit with some friends and I come home to this?

Edit:  It's not that bad.

now bitcoin price hovers around $31k and it seems that without big news like the SEC it's hard to get back to $25k. many say that $30k is a strong resistance and if bitcoin manages to break that barrier there will be a strong push. now bitcoin has managed to break through that barrier and i believe this positive trend will continue until at least $33k.

30k is where the resistance is actually.  I usually look at just the daily chart and some weekly to see where it's going in a higher time frame.  And the monthly chart for the purposes of these sentiment threads.

And here's what I see just basing it on optics.  Daily, it's having a hard time at 31k - 32k resistance and needs to break above it and retest as supporty to confirm the S/R flip.  Weekly, also at resistance but it looks cleaner than the daily chart.  Looks ready to break out 32k and go trend straight up to 37k resistance like dragonvslinux said.

The price change in June was definitely not a bad one, it is something to be expected when bitcoin is getting a lot of support from big investors. Even though the chart is currently showing signs of correction, I believe bitcoin price will close above $30k by the end of June. I'm not sure that a big correction can occur when the market has been supported by many investors and should be selling at low prices can reduce by itself.

$29k is strong support so far for bitcoin, so surely that could support more attempts to test $32k resistance for the rest of June. Saylor also recently announced about his DCA buy again for bitcoin, so they really are more optimistic than we have been so far.

Each of us sees a different picture on the charts. I see that on the weekly chart the candle opened above 30k. To me that means that the past resistance, which bitcoin tried to break several times, has finally been broken and the price has consolidated above that level. I hope this was not a fake breakout.

The question is, how can we break this resistance? Because I see that zigzag charts still occur frequently in Bitcoin even though it is still at the $30K support level. I also hoped that a new renaissance would come to Bitcoin soon and thought that a bigger price increase could happen in the near future. Only after seeing that the support is still not over $31K, I don't think a bigger increase is going to happen anytime soon in Bitcoin even though just three days ago it was above $31K.

For me so far, the 4 hour chart is not indicative of a new dump. Bitcoin is still at the 30k support level. It seems to me that the chart looks more like a flag. If that is the case, a new rise could happen soon. However, on the weekly chart bitcoin stopped at the level of the last local high. We need to break this resistance.

^  True...  It might not drop down as deep as 25k from here on out but that's where support most likely is rn judging from the past price action.

As for the trend going up to 37k, it's looking less likely the more we stay at 30k - 31k.  Hopefully we at least get past above 32k before the week ends.  Check the 4h chart...  It feels like a dump away back to 25k.  

But all in all, if the month ended today BTC would be up around 11% for June.  Not bad imo.

I don't really see another correction to $25K, unless it's based on on re-testing much lower prices below that like $20K etc. Maybe $27K or $28K at most right now. Simply because we've already seen the correction from $30K levels to $25K, so there isn't much or a reason to repeat that imo. Quite likely if $32K is broken then it will be re-tested, but only after somewhere around $36K to $37K is tested imo.


Sure that was a slightly deeper correction, around 20%, but not by much as $31K to $25K was a 19% correction. All it really shows is that the uptrend is stronger than it was, not much else. It's quite common that up-trends increase in strength until they eventually break, as this is more or less the recipe for a parabolic up-trend that we've yet to properly see so far.

Also note that after the correction to $20K price re-tested $25K before going another 20% higher within a few days, so this to me is the more likely outcome right now, unless we see a smaller correction to around $27K or $28K as I referenced in order to build up momentum. After all the $30K level should be slightly more difficult to break through than the $25K, due to higher trading volume.

So what does that mean?  You're thinking BTC goes straight to 37k or wherever the next resistance is..?  It could happen but I think it's more likely that it's going to be like how it happened last time which was sell down to 25k before going up to attempt a break out 31k - 32k.  So it will prolly go straight up to 37k like you said, lose some steam, go sideways for a bit then the retest to 31k - 32k.

The pump before this one, BTC went down to retest 20k before it went up to break out of 25k.

Anyway black line is where the next resistance might be...  Dunno.  

$29,936 closing price on the 22nd. Not far from the $30k we assume.
Then the $30,629 closing price one day later was yesterday's closing price and is still not at that price as it is on the coingecko chart.



The possibility to get better is still very strong, at least entering July, which is only a few days away.

The price of bitcoin is very uncertain especially amid soaring buying interest from several large companies and large investors. The closing price will probably be under $30k lower or higher, but I don't think that will guarantee that bitcoin will be more expensive and break the $35k resistance.

Today bitcoin opened at $30,102 according to data from CoinGecko, and if this positive trend continues then bitcoin should be able to close at $32k or $31k. Anyway that's just the range I can think of, but certainty just really depends on supply and demand. Wait and see, but we hold a better possibility.

I'm still waiting for 24 hours or until tomorrow whether it will stay at $30,000 because on the 24-hour chart today the price is still at $30k even though the lowest price is $29,754.87.
If today's closing price is at $30k, then there is a chance of breaking the $35k resistance, although we cannot say for sure.

Fair point, I guess I'm generally ruling this out happening in a hurry. As with the break of $25K it effectively took 3 months to re-test if as support. If the highs break, I imagine price will continue higher before confirming old resistance as new support. Also the upside momentum may well increase (similar to 2019), whereby old resistance may not be tested as new support for 6-12 months, let alone 3 months. I say this as we're not in a "full blown" bull market, as you agree, and therefore the market is still in a trend reversal stage. With that in mind, it's likely to be more volatile and irrational than usual uptrends.

I also suspect that breaking above $32K will shakeout the remaining bears who are still expecting lower lows, or at minimum a re-test of lower levels. With this in mind, these bears are quite likely to accept defeat and buy back, even if at a higher price for some. This is why I think a rational re-test of $32K to turn it into support will be unlikely, as the market is unlikely be rational if the last bearish level is crossed.

Also if we are to consider the year long structure of a rounding bottom, the upside target from breaking $32K is +100% to re-test previous highs. While I still don't think price will get beyond $60K this year, it's hard to believe that many bears won't take the risk/opportunity for a trade to $60K levels. As the reward will significantly outweigh the risk, as even with a stop loss below $25K, it'd still be about 5:1 or 4:1.

If you look at bitcoin's historical cycles, 15k was probably the bottom and the price will not return to that area again. Usually a bull market would happen about a year before the halving, but without reaching a new ATH. I think we will see a price increase in the next half year.

Nono it's fine...  I'd like to see the price a lot higher than were it is too.  I mean who doesn't?    But we also can't just let go and say 'woohoo we at the bull market, to the moon'...  Lol.

As for 37k, I wanna see BTC break above 31k - 32k resistance then go down to test it as support.  If it's solid and it holds then that's another good spot to go long.

Yeah, it was a sudden flipped, but who can tell though? bullish sentiments is back and we have recaptured $30k again, after trading for more than 2 months on a sideways pattern.

So yeah, resistance should be at $30k, but it seems that if we can maintain this price then we can go up to $32k. And we still have a lot of days before the end of June, so most likely this could be another green dildo.

Such a strong increase in the middle of the year is a positive situation. Of course, there are still those who say that the increase is temporary. Nobody knows what will happen, but it was good for bitcoin lovers to see the market in this way today.

To test it again, the price dropped and quickly recovered. After a long time, we see such a rapid increase. Today, those who are interested in bitcoin are smiling. Bitcoin investor longs to be happy and see the market green.

Hopefully this increase will continue and break the next resistance.

It was a natural correction because some people have sold their bitcoins. Price dropped a bit but then bounced back and tested resistance again. Don't worry about it, but enjoy this recovery.

If this trend persists and continues then surely $40k will be reached easily. Look how happy people are after bitcoin crossed $30k in just 24 hours after closing at $28,331 the previous day. The hope for a $40k hit is still very high, but wait and see if bitcoin can break the $35k resistance.

Anyone who sold at a low price in the past few days is clearly regretting their decision, but I wouldn't necessarily say it was a bad decision when there was a clear reason that went with it.

The chart direction turned slightly downwards as it raced to a price of $31,000 from $27,000 in 24 hours.
Increasing price charts moving up quickly will make a lot of people regret for letting go at a price below $ 27,000.



Maybe this is the beginning of the speculators who analyze that Bitcoin will reach $ 40,000 this year.
I see today's chart positively in the middle of the year amidst the rise of rumors that are made to drop the price of Bitcoin, although it is possible that some will say that this is only temporary.