Topic: BTC Sentiment Poll for June - page 3. (Read 743 times)

I also don't think June will look like a sideway as bitcoin prices tend to fall and test new support. $24k has been support in the last 24 hours although currently the price has bounced slightly above $25k.

But ultimately I think June will also show some upside to counter the FUD that's going on. The SEC is urged to protect investors rather than drown them with its attacks on Binance and other exchanges, so the impact is bound to diminish gradually. So from that some other positives should also support the upside although I can't expect any bullishness in the near term.

For almost 2 weeks Bitcoin is still in range $25k to $28k,
and at the end of this week bitcoin has not made any big movements it can be sure that it is sideways this month,
indeed the market looks boring and volatile for altcoins,
look at bitcoin only dropping -2% to -5% and altcoin prices are down up to -10% to -25%.

HELLO JUNE OF WONDERS!



June isn't obeying anyone's predictions. I see no moon in June, I see no side movement in June. All I see I digging and digging down the well. June want to reach 20k and it is so determined. What will stop it from happening. Indeed, cryptocurrency is unpredictable.
With the beautiful performance of last two months,  I really thought bitcoin will do more and hit 30k this month. Bit it seems the dream is dashed.

It's because $23K is the volume support, whereas there isn't a lot of support volume between $24K and $26.5K. It's also very close to the 200 Day MA* currently around $22.5K that within the coming days will be at $23K. As you can see there is increasing volume support from $25K down to $23K, but similar to the correction in March, price came down to the peak of this volume support before reversing to the upside.



In summary, the same reason I was bullish about $20K acting as support, while others were fearing much worse prices, is more of the less the exact same reason why I see $23K acting as a support level. Arguably there is more chance of $23K acting as support than there was of $20K back in March, as back then the 200 DMA was barely rising, whereas now it's been in an uptrend for the past 3 months.

It's also partially due to the market mentally. Most were/are expecting $25K to act as support, somewhat similar to those who thought $22K/$23K would act as support back in March, whereas instead it failed. If most people expect old resistance to turn into new support it probably won't, especially with price effectively in a neutral zone between the 50 Day MA (declining bearish) and 200 Day MA (rising bullish).

Naturally I'd have a completely different opinion if for example the re-test of $25K was in line with some other support level, like the 50 Day MA, or otherwise the 200 Day MA, but this isn't the case. Old resistance on it's own turning into new support just seems unlikely to me, especially now the 200 WMA has broken. Whereas the confluence of support as described at $23K looks a lot more appealing to me.

Also the 50 Week MA has just started trending back upwards in the past few weeks for the first time in around 18 months and is priced around $22.5K. This is usually a defining factor or a confirmed trend reversal, similar to January 2022 when it flipped bearish, even if somewhat delayed. In summary, if $25K is the short-term support level, $22K to $23K is the long-term support level here.

*Had the wrong MA on that chart, it should have been the 200 which is currently at $23.7K (not 260 ie 5 year which is at $22.5K).

And as we were talking about 25.3k being qualified to be '25k', the real 25k was tested and was broken.  :/  If the daily candle doesn't close above 25k - 25.3k and it establishes itself as resistance, it looks like BTC could go back down to 19.5k - 20k range.  

And I'm not really sure why you're saying support is at 23k because this is what I'm looking at...  25k or so was tested twice during August and Feb, before finally breaking out at March.  Now it seems like it has flipped back to being resistance.

I'm pretty much agrees with you re-test of 25K is very high at this point, especially with the SEC news and we didn't see good news too from here. Tho the 25K is now becoming a support zone from the previous resistance zone it seems 30K zone can break if the good news comes or maybe next month or August seems very hard to break tho

is the blue line the 200 WMA and is that volume profile in right of your chart?

To be honest, I was already bearish about Bitcoin even before all this SEC targeting exchanges thing came to the surface, I knew that Bitcoin will go below $25k or maybe around $22k which we might see very soon, the price wasn't being able to hold itself above $27k before there wasn't much support or buying pressure from investors as everyone was expecting a further dip.

Now with all this bad news circulating in the market and retail investors panicking, I don't see it going up anytime soon until things settle down after all these cases are done with, if exchanges face defeat, we should expect the price to dip even further.

I picked nope as option but I expected people to pick sideways. Latest peak was something done and closed as resistance of bulls were weak. I think we are definitely in sideways type of balanced markets BUT bears sort of determine where price will go, not bulls. So bullish moves always captured by bears and stopped rather quickly. I guess june won't be our best month indeed. I feel like july may be lot more better if June keeps on going sideways.

Well it certainly wouldn't be out the question. Price is only down -5% this month, so ending the month >$27.2K would indeed be an up month, even if potentially not by a lot.


I agree that $25.3k could well qualify as testing $25K, as the previous highs were only around $50 less than that. However the issue I currently see is the close below the 200 WMA which will signal caution for many investors, even speculators, at least until it is reclaimed. At present, the $26.3K to $26.5K is now acting as resistance, where the 20 as well as 200 WMA are based, even if the week is still young.



I'd have much preferred a re-test of $25K prior to closing strong back above the 200 WMA, which would have signalled strength in the market. But instead last weeks close only signalled weakness. Hence without the combination of $25K previous resistance turning into new support, along with confirming the 200 WMA as support, I see the next realistic downside target as around $23K, close to the 50 Week MA.


I'm not sure this is that relevant at present, as it's only relevant when traditional markets and Bitcoin are correlated, whereas in the past 5 weeks Bitcoin has corrected and S&P has broken to the upside, so there is now a short-term inverse correlation. While this could be a lagging indicator for a Bitcoin break-out in the near future, this still remains to be seen as price continues generally to the downside.

There's a couple of guys who voted for it to go up.  It's going to be funny if they're the two guys who got it right.

Anyway, I think the couple of sell downs that went to 25.3k could qualify for '25k' as it's more about the range than the actual number with these things.  So some room for error is fine imo.  But yeah...  Things are starting to move up to 26k again with some resistance.  Looks like it's not gonna be smooth sailing and your 23k call could happen.  :/

Let's see what happens when US session starts in around 30 mins from now.

And we are not yet in the bull run, specially as you have said, there is a issue about brc-20 ordinals that's clogging bitcoin's network and the community find it disturbing as the fees is going up and most of us are not used to it because it's already cheap with 1 sat/vB. And there were moments where it went as high as 200 sat/vB (highest priority).

And then we have the Binance vs SEC issues or we can add Coinbase issues as well. So definitely this month doesn't look good to us. We are now in the second week and the price just hovers around $26k.

It's difficult to find a bull when there's so much happening near it. BRC20, Pepe, and more. How many investors, users, customers are now affected by this transaction fees and longer time of waiting? It had never happened for a long time and I though it will never happen again.
The price may stay the same for this month, that's my take. If not, then more reds incoming. I just cannot see any reason behind a bull to happen again. Economically speaking, we ain't really in good shape too. No savings means lesser buyers including the retail ones who are a big part of the growth of Bitcoin.

Still in a difficult mood to move past $30k even though the current situation on the one hand can still be considered normal because the market situation in May and mid-June are not much different.
I think that the current market situation still requires us to hold and try to increase the amount because selling is not a good thing to do until the end of this month.
There is a possibility that the chart will change again when the BinanceUS and SEC issues are resolved.
In general, that's what I think.

The block reward halving is still a long way off, and even if we get closer, it won't stop bitcoin from falling if the SEC still hits us, panic will still ensue.
Things are starting to calm down, and the market is no longer reacting strongly to the SEC news, and I think the movement of bitcoin this month will depend on the Fed news. If CPI falls as expected and the Fed stops raising interest rates, it can positively impact the market and vice versa if things do not go as expected, it will negatively affect bitcoin.

I think sideways seems like the most likely situation right now, people could have different approaches to this but that doesn't mean that it will happen, we are going to just see it grow a bit differently. I understand that people are looking at the price like it is acting up right now, we have seen some drops and all, but that doesn't mean that the start of the month and end of the month would be too different.

I feel like it will have some movements in the middle but the ending of the month will be pretty similar to how it started. This is going to make traders very happy, but the long term holders will not be similarly happy about the situation, there will be a lot of confusion regarding what's going on and how it all happened.

Bitcoin change in the price of below decrease the price of  23k and increase the price of above 30k and i m not a fan of selling this and somebody waiting at the price between 10 to 12k and some one say the price will be increase above the 30k and its half and there is a some movement and they have a time and even not play 1k and its go below the price of 20k and finally they wait still end increase a price then sold it is better to this.

Meanwhile, in my opinion, the sentiment in June is still very bearish, because some bad news came such as Binance vs SEC,
Coinbase vs SEC and several exchanges that went bankrupt,
this is why good news like China which legalized cryptocurrencies still can't make the market bullish.

I believe this thread was created before the sec grand crack down on major projects in the crypto space. If this poll was to be re-created the answer would be different.
In crypto, it is always very difficult to full speculate what the price will be within a certain time frame since the market is highly influenced by the news and whatever comes up from the anti-crypto side. Many people where hoping the month of June will start well as may was not very fun for traders and investors, nobody anticipate for the sec invasion this month.

We're just on the tipping point between sideways confusion back and forth and actually acting negatively.  There is both a negative regular price move downwards on daily bars but also now a close below a long term average the 200 week.   If this week doesnt alter those movement with some positivity to muddy that negative tone then it might develop into a proper trend not just a suggestion or speculation of one.   I presume sideways but June could move down properly perhaps, break the repetitive range of prices thats been in the wash since March just going around again and again.

Well, bitcoin is now trading around $25k so it's now a couple of dollar closer to $23k and I dont think that "unlikely" that you have said is quite more "likely" to happen after the SEC suing Coinbase and Binance simultaneously. I believe the SEC continued crackdown on crypto will somehow affect the market - so we cannot eliminate the huge possibilities for bitcoin to drop below $23k and even if the halving is close approaching, there's no guarantee for a lesser room or chances for a sharp decline. I would also consider it as an opportunity for everyone to fill their bags even more with fractions of bitcoin before the anticipated next bull run.