Topic: BTC Sentiment Poll for October (Read 811 times)
^ Nice. Thanks for pointing that out. And yup you're right. Monthly chart shows that we're not out of the woods yet. :/ Stay safe out there guys.
Thats a good chart looks like a break out but different to my own view which is where we are approaching resistance rather then past it especially. It is positive action but I dont think its easy progress in this area, the clear path forward is not quite there and so I dont expect 40k.
The easiest way to point that out is monthly bar view on the graph, not sure how many people use that but BTC is strangely longer term then most would presume considering how sharp and fast its moves appear to be.
Look at 2022 start thats roughly where Im apprehensive of us approaching old trades and volume.
The easiest way to point that out is monthly bar view on the graph, not sure how many people use that but BTC is strangely longer term then most would presume considering how sharp and fast its moves appear to be.
Look at 2022 start thats roughly where Im apprehensive of us approaching old trades and volume.
^ I little bit of resistance at 35k but if you look at it from a weekly chart it looks like it could go a bit back down to 31k - 32k and confirm the flip. But all in all it will still look very good even if it goes back down the green bar... Could be a good spot to buy again too.
And it's time to pick your spots in the altcoin market folks. The money will be rotating from top to bottom and it could end with memecoins pumping like crazy like the last time.
And it's time to pick your spots in the altcoin market folks. The money will be rotating from top to bottom and it could end with memecoins pumping like crazy like the last time.
Wow... Who would've thunk. We're looking at a clean break out above 31k - 32k and if BTC goes down and retests that 31k - 32k range and holds, we got an S/r flip and it's gonna be a comfy trade for the guys who got in at the ranges below. 
This move certainly took me surprise, I wasn't expecting that resistance level to break for sometime.
The break is also as clean as it get's after popping to $35K, despite there not being considerable volume to back it up. It seems very much related to the news about the ticker listing on DTCC, the assumption that an ETF will be listed soon, which personally I'm still not convinced about. I read that the $IBTC ticker was in fact listed back in August, but took until this month for someone to notice...
Either way, as others have pointed out, it becomes irrelevant how/why the range was broken if the break sustains itself - which is currently the case. I think this secures $30K as a new support level if price is to correct soon, but I wouldn't be surprised to see $40K first before a correction. Price around $35K is no-mans land (very low volume) so a push further to upside back to trading volumes isn't out of the question.
A lot of bears who have been calling for lower prices over the past 6+ months are now accepting defeat. While they might not be rushing back into Bitcoin at current overbought levels, no doubt they'll be re-entering the market if price comes back to $30K. However if price continues onwards to $40K, they may well just have to suck it up and buy back, as price could then continue back to $50K to $60K.
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There's no how you could accurately predict the moves on bitcoin market pattern because it will always go by the tune of what it's demands and supplies gives and these are the elements that the speculations we make carries from the chart when we study them, it seems the season is set on for a bullish trend this time and there's more probability of going more bullish than bearish althrough this month of October.
Exactly, putting charts, technical and fundamental analysis aside, the bitcoin market, as well as the entire crypto currency market in general is concerned, the direction the price goes is very much the result or outcome of the demand and supply of the currency.And talking about how the market may likely look like for the remaining days of this months, well, October is just about five days to go, there is a very high chance of the market remaining bullish all through the remaining days of this month, and like someone said in another thread, if there is actually no bad or negative news that affects the market negatively, i personally expect this bullish momentum to extend to the month of November and possibly for the rest of the year, we may possibly see bitcoin trading above $50,000 or $45,000 by the ending of this year if demand remains as high as it currently is.
Wow... Who would've thunk. We're looking at a clean break out above 31k - 32k and if BTC goes down and retests that 31k - 32k range and holds, we got an S/r flip and it's gonna be a comfy trade for the guys who got in at the ranges below.
I already got an idea what to ask in the BTC sentiment poll for November.
You guys are gonna love it.
I already got an idea what to ask in the BTC sentiment poll for November.
You guys are gonna love it. 
There's no how you could accurately predict the moves on bitcoin market pattern because it will always go by the tune of what it's demands and supplies gives and these are the elements that the speculations we make carries from the chart when we study them, it seems the season is set on for a bullish trend this time and there's more probability of going more bullish than bearish althrough this month of October.
^ Not sure about 28k being meaningless if it's going to need to hold as solid support for the next break out above 30k.
It's only meaning is confirming $25K as a double bottom as well as the current range, which previously was in doubt. Holding it as support doesn't increase the chances of breaking above $32K imo, only of re-testing it as part of the current strong range. I don't doubt there will eventually be a break of $32K, most likely from the current long-term range, but unlikely it will happen anytime soon. $30K seems somewhat irrelevant as a resistance level now, it's purely psychological as $32K has established itself as the top of the range (similar to May 2022). Either way it'll need a lot more volume than present to break-out up or down.
Let's not forget that price was previously in a range of $15K to $25K for 9 months, so not it's worth getting surprised by remaining in the range for another two months, in fact it'd be quite fitting for market structure to repeat itself. Being bullish because price as found support from $25K and bearish when rejected from $30K/$32K, in the long-term view, is clearly becoming pointless. Finding the support from $25K again has invalidated the bearish outlook, but this doesn't make it bullish, simply back to neutral for the immediate term. Similar to rejection from $32K again, it wouldn't be bearish, simply still neutral within the range.
Ultimately we've established a range for 7 months and remain neutral within it. Anyone being bullish/bearish in the immediate term during this period was wrong, there's no denying that. Eventually either the bulls or bears will be right when the range breaks - and no doubt they'll say they told you so. But by that time those bulls/bears will be wrong enough times that being right eventually won't be that surprising either.
And it looks like BTC got up there really fast to test it. Lol.
We also went from $27K to $30K within two days back in June, but alas the resistance around $32K kept prices within the range. The exception to my analysis would be if an ETF get's approved, then sure there will likely be a moonshot to the upside out of the range. But personally I don't see this happening anytime soon either, likely early 2024, around the same time when the range will be broken based on current time-frame.
Fundamentally I think we need to break the current market structure of going from the top of the range to the bottom and visa versa. For example re-testing $32K resistance then actually holding $28K as new support, this would be the first step towards being able to invalidate the range. Without that, price is most likely going to continue ping-pong between support and resistance until something changes...
Mmmm dunno... As far as I'm concerned, the double bottom was confirmed when BTC made a higher low around Sept 25 and again around Oct 11. The run up to 28k for me and breaking clean above it was a confirmation to start getting in as momentum has been building up.
But I'm not really gonna argue... Technical analysis is a fickle thing. One guy interprets it one way while the other guy interprets it another way but they both come to the same conclusion.
^ Not sure about 28k being meaningless if it's going to need to hold as solid support for the next break out above 30k.
It's only meaning is confirming $25K as a double bottom as well as the current range, which previously was in doubt. Holding it as support doesn't increase the chances of breaking above $32K imo, only of re-testing it as part of the current strong range. I don't doubt there will eventually be a break of $32K, most likely from the current long-term range, but unlikely it will happen anytime soon. $30K seems somewhat irrelevant as a resistance level now, it's purely psychological as $32K has established itself as the top of the range (similar to May 2022). Either way it'll need a lot more volume than present to break-out up or down.
Let's not forget that price was previously in a range of $15K to $25K for 9 months, so not it's worth getting surprised by remaining in the range for another two months, in fact it'd be quite fitting for market structure to repeat itself. Being bullish because price as found support from $25K and bearish when rejected from $30K/$32K, in the long-term view, is clearly becoming pointless. Finding the support from $25K again has invalidated the bearish outlook, but this doesn't make it bullish, simply back to neutral for the immediate term. Similar to rejection from $32K again, it wouldn't be bearish, simply still neutral within the range.
Ultimately we've established a range for 7 months and remain neutral within it. Anyone being bullish/bearish in the immediate term during this period was wrong, there's no denying that. Eventually either the bulls or bears will be right when the range breaks - and no doubt they'll say they told you so. But by that time those bulls/bears will be wrong enough times that being right eventually won't be that surprising either.
And it looks like BTC got up there really fast to test it. Lol.
We also went from $27K to $30K within two days back in June, but alas the resistance around $32K kept prices within the range. The exception to my analysis would be if an ETF get's approved, then sure there will likely be a moonshot to the upside out of the range. But personally I don't see this happening anytime soon either, likely early 2024, around the same time when the range will be broken based on current time-frame.
Fundamentally I think we need to break the current market structure of going from the top of the range to the bottom and visa versa. For example re-testing $32K resistance then actually holding $28K as new support, this would be the first step towards being able to invalidate the range. Without that, price is most likely going to continue ping-pong between support and resistance until something changes...
Mmmm dunno... As far as I'm concerned, the double bottom was confirmed when BTC made a higher low around Sept 25 and again around Oct 11. The run up to 28k for me and breaking clean above it was a confirmation to start getting in as momentum has been building up.
But I'm not really gonna argue... Technical analysis is a fickle thing. One guy interprets it one way while the other guy interprets it another way but they both come to the same conclusion.
I was really surprised by the way the Bitcoin market went up yesterday. The most pumped within a short period of time is the Bitcoin market where the price of Bitcoin reaches a high of $35228. October 2023 will be the biggest rally in October 2023, with Bitcoin hitting $40,000 before the end of October. Because the price of Bitcoin has skyrocketed in such a short period of time, $40,000 doesn't matter. Also, many people lost money yesterday who were in futures trading, I saw a tweet on Twitter where people lost their $310 million in no time. In just a short period of time, those who went short on Bitcoin lost money, while those who went long made huge profits. Moreover, Bitcoin has pumped the maximum this year, we can hope that Bitcoin market will reach $40k dollars soon.
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I think the Bitcoin prices not in a bullish state right now even though we have cross the 30000$ mark. Also this is the beginning of the week when we see the price break that 30k mark I won't be surprised if by the end of the week we may again go down making it a false break.
But still I will not recommend to short the Bitcoin because we are approaching near the halving and most probably Bitcoin will move upwards more than the downward direction.
If you want to invest then it's a good time to buy Bitcoin but you need to be careful if you're trading bitcoin for short term at this moment.
In the last few hours, bitcoin managed to break the $31k resistance. This is good news, but of course you need to be aware of the potential for correction due to a saturated market. The $32k resistance has been expected to break after this, but a correction is inevitable if $32k fails.
The current highest price is $31,200, that's the same price in mid-July. There are good hopes of getting $32k broken in the rest of the month, I don't expect it to fail again like it did in July. The impact of spot bitcoin ETF is starting to be felt, even if a spot bitcoin ETF has not yet been approved. There is FOMO or something like that among investors, but they seem to be getting in at the right time.
The whole sentiment about Hamas raising millions thanks to bitcoin is not what they are worried about, Pablo Escobar lived at a time when bitcoin wasn't a thing for another 2+ decades and he raised 20+ billion dollars, and his 20 billion dollars worths more than todays 100 billion as well when you consider inflation, dude was burning money to keep his daughter warm, imagine how rich that dude was.
However, what they are worried about is that the money they have, which is dollars, is no longer the preferred method, they rather have dollar be used in bad stuff as well along with good things just to keep dollar powerful. But if we all start to use bitcoin and ignore dollars, that would mean that it would lower the power of dollars and that should not be all that good, we could end up with something wrong there. I hope that people could realize that lawmakers are not there to keep the nation powerful, they are there to keep their power strong so they can do whatever they want.
However, what they are worried about is that the money they have, which is dollars, is no longer the preferred method, they rather have dollar be used in bad stuff as well along with good things just to keep dollar powerful. But if we all start to use bitcoin and ignore dollars, that would mean that it would lower the power of dollars and that should not be all that good, we could end up with something wrong there. I hope that people could realize that lawmakers are not there to keep the nation powerful, they are there to keep their power strong so they can do whatever they want.
Near term bullish vs that June through August fall trend that resulted in the waterfall end to it. This contrast from immediate action to that older historic action and any prior selling above 30k is probably going to take something extra to overcome. We'll need to pullback and confirm a level that still equates to bullish foothold before properly rising ?
It'd be nice to end the year at the highs and beyond any prior price achieved but thats the fairy tale ending I dont know we get it or deserve it just yet. BTC is best when the price action earns its place after defeating sellers and leaving them worse off then it might pick up momentum.
To arrive at the last Ath I think it's impossible for BTC in Athun, considering that the movement is also a little slower and it is not possible to be achieved with the next two months, there must be an event that makes Bitcoin to that point, if limited to potential From the moving chart it will be difficult in my opinion, while BTC Dominance is not so strong and still gathering its strength to push even higher.It'd be nice to end the year at the highs and beyond any prior price achieved but thats the fairy tale ending I dont know we get it or deserve it just yet. BTC is best when the price action earns its place after defeating sellers and leaving them worse off then it might pick up momentum.
Today, even though BTC is at the $ 31K harag level, it is not necessarily that BTC will continue to move, and the $ 30K level has not been clearly confirmed to be the strongest support, we need time to maintain prices at $ 30K to be a logical support price.
I think the Bitcoin prices not in a bullish state right now even though we have cross the 30000$ mark. Also this is the beginning of the week when we see the price break that 30k mark I won't be surprised if by the end of the week we may again go down making it a false break.
But still I will not recommend to short the Bitcoin because we are approaching near the halving and most probably Bitcoin will move upwards more than the downward direction.
If you want to invest then it's a good time to buy Bitcoin but you need to be careful if you're trading bitcoin for short term at this moment.
Near term bullish vs that June through August fall trend that resulted in the waterfall end to it. This contrast from immediate action to that older historic action and any prior selling above 30k is probably going to take something extra to overcome. We'll need to pullback and confirm a level that still equates to bullish foothold before properly rising ?
It'd be nice to end the year at the highs and beyond any prior price achieved but thats the fairy tale ending I dont know we get it or deserve it just yet. BTC is best when the price action earns its place after defeating sellers and leaving them worse off then it might pick up momentum.
To arrive at the last Ath I think it's impossible for BTC in Athun, considering that the movement is also a little slower and it is not possible to be achieved with the next two months, there must be an event that makes Bitcoin to that point, if limited to potential From the moving chart it will be difficult in my opinion, while BTC Dominance is not so strong and still gathering its strength to push even higher.It'd be nice to end the year at the highs and beyond any prior price achieved but thats the fairy tale ending I dont know we get it or deserve it just yet. BTC is best when the price action earns its place after defeating sellers and leaving them worse off then it might pick up momentum.
Today, even though BTC is at the $ 31K harag level, it is not necessarily that BTC will continue to move, and the $ 30K level has not been clearly confirmed to be the strongest support, we need time to maintain prices at $ 30K to be a logical support price.
Near term bullish vs that June through August fall trend that resulted in the waterfall end to it. This contrast from immediate action to that older historic action and any prior selling above 30k is probably going to take something extra to overcome. We'll need to pullback and confirm a level that still equates to bullish foothold before properly rising ?
It'd be nice to end the year at the highs and beyond any prior price achieved but thats the fairy tale ending I dont know we get it or deserve it just yet. BTC is best when the price action earns its place after defeating sellers and leaving them worse off then it might pick up momentum.
It'd be nice to end the year at the highs and beyond any prior price achieved but thats the fairy tale ending I dont know we get it or deserve it just yet. BTC is best when the price action earns its place after defeating sellers and leaving them worse off then it might pick up momentum.
How do you feel October will end up for BTC?
Little by little the crypto market has shown itself to move Bitcoin, this shows that in October 2023, several speculations can be declared successful, Today Bitcoin is traded at around $30k, perhaps this shows goodness for Bitcoin users and investors.On the other hand and some of the speculation that I have seen, December Bitcoin will position itself in a better direction, perhaps above $40k. What many people feel and dream of may be achieved, I look at my own speculation for the upcoming halving.
For this election I agree with point number two, above $30k.
I feel like there is big barrier in 30k that will give Bitcoin hard time to break. Not sure what to say at this point. I bet Bitcoin wouldn't break 30k on twitter with people but I lost. I feel like we will watch Bitcoin from 27k to 30k levels. I still reject to invest right now because I am little bit worried as we experienced this after fake news. I feel that market sentiment is clear, people are hungry for more but it's not time yet.
Agreed on a barrier on $30k, however, this barrier will certainly not stop bitcoin from pumping over the barrier because there are inflows of fiat going in the cryptospace through Tether. September 20 witnessed an inflow of $999 million USDT and on October 20 witnessed another $999 million inflow of USDT. If there is another inflow of $999 million where would this bring bitcoin? A pump more than $35k, I reckon.
TETHER PRINTER
Just printed $999,955,644 USDT!
Source https://twitter.com/usdcoinprinter/status/1715159653301076268?s=12&t=fx2RmsbaS0qNJTJTdpNu2w
Also, this is only USDT. I speculate that Blackrock will use USDC because they have ownership shares on Circle.
Circle, a major peer-to-peer payments firm and the principal operator of the UDC Coin
USDC has announced a $400 million funding round and a new partnership with the American investment firm BlackRock.
Read in full https://cointelegraph.com/news/blackrock-joins-stablecoin-issuer-circle-s-400m-funding-round
I feel like there is big barrier in 30k that will give Bitcoin hard time to break. Not sure what to say at this point. I bet Bitcoin wouldn't break 30k on twitter with people but I lost. I feel like we will watch Bitcoin from 27k to 30k levels. I still reject to invest right now because I am little bit worried as we experienced this after fake news. I feel that market sentiment is clear, people are hungry for more but it's not time yet.
Bitcoin price reaching thirty thousand is not a new thing because I believe that the price of bitcoin don't be stagnant, it fluctuates and since it fluctuates that means that bitcoin price is something I know quite well that have to deal with information, some people do not invest in bitcoin when they see that price of bitcoin is decreasing but immediately they seen that bitcoin price is increasing they do rush and purchase bitcoin, so therefore when the price of bitcoin increases some people who is not acquainted with bitcoin investment will invest in order to make profit
I feel like there is big barrier in 30k that will give Bitcoin hard time to break. Not sure what to say at this point. I bet Bitcoin wouldn't break 30k on twitter with people but I lost. I feel like we will watch Bitcoin from 27k to 30k levels. I still reject to invest right now because I am little bit worried as we experienced this after fake news. I feel that market sentiment is clear, people are hungry for more but it's not time yet.
All in all, fake news or real news it's looks pretty good imho. Just some resistance at 30k but it's not a surprise... Stay safe out there guys.
This could be good news for those who have been waiting a long time for the new support price to strengthen in order to look at the next price above 30k.Apart from the various speculations described regarding the events that caused the price of Bitcoin to reach 30k. We really enjoy the market price movements for Bitcoin.
We're still safe here
Now I will leave the Bitcoin price chart tab open for the next few hours to wait for Bitcoin to reach 30.5k.
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