Topic: BTC Sentiment Poll for October - page 2. (Read 811 times)

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.


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...

^  Not sure about 28k being meaningless if it's going to need to hold as solid support for the next break out above 30k.  And it looks like BTC got up there really fast to test it.  Lol.  I guess we'll be needing some good news to get above it and the fake ones just won't cut it anymore.    We need the real ones now.

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.

In the longer-term breaking above $28K is somewhat meaningless, apart from as you say for trading purposes. It's happened twice before but failed to break through the $30K-$32K level.

Overall price has been in a range between $25K and $32K for 7 months now. Breaking back above the mid-level around $28K only increases the chances of testing the upper bound of the channel, not much else in my opinion. Sure the resistance will weaken the more times it is tested, but after the double bottom from $25K price has only re-affirmed the current range, rather than brought it into doubt.

Haven't posted for a month or so as quite frankly price has been barely moving so not much to talk about speculation wise. I'm still in the camp of thinking that we'll remain in this range until the end of the year. Many bears were expecting $25K to break as support and lower levels to be tested, but clearly that failed. Next up many bulls will expect $32K to break to the, but it probably won't imo.

I see the bullish structure in play that the range is above the formation of a low, and the target would be 50-100% up once it's broken, but this is only based on breaking out of the range to the upside which is unproven. Remaining within the range is quite simply neutral right now. For sure you could call it an accumulation zone (which I think it is), but if price breaks below $25K it will in fact be a distribution zone instead.

We have seen the Bitcoin market change almost since the beginning of October. The price of Bitcoin rose to touch $30,000 a few days ago, when the ETF for Bitcoin was reported on various social media. However, the market is moving towards that position and currently the Bitcoin market candles are looking really good. The green candles in the Bitcoin market are encouraging investors to hold on to Bitcoin. Today, the Bitcoin market is hovering above $29,000 with a 3.50% increase in price, and it is really good to see the position of this market.  Bitcoin market is currently doing well in October compared to last month, and we expect Bitcoin market to be around $32000 by the end of this month. Moreover, it is expected that Bitcoin will undergo more drastic changes in the following new months.

And that's why it is called fake news though, because there could be some gullible individuals who might fall for this news and then think that's true and so fuelling the bull run, they buy more bitcoin. But then again, this manipulators will go and sell, making huge profits and then those newbies is left shaking their heads as to what happen.

So very important what we read everything out there, on the contrary though, regarding the Hamas news? The market is not shaken, on the contrary, we might have to hit $29k again. And when we thought that this October is another month that we will see a sideways pattern, we could be in for a unexpected $30k'ish or close to it.

Breaking above 30k and might stay there for a while , until we reach the halving in second quarter of 2024 that said to be the start of the great bull running.
actually as we are passing the last quarter , we can see that the strong hold above 25k is maintaining , if this continue then yes 30k and above will be our ending year value .
hoping that there will be another super dump because I still have some extra funds from my Bonus in work that i can use to buy more before halving.

The rumor is very headshaking and will certainly only trick the people who does not know that the president cannot fire an SEC chairman. There needs to be a reason that is impeachable and if the SEC chairman is impeachable, it will be argued and voted in congress.

In any case, it appears that this grandma Elizabeth Warren is attacking crypto with fud again. I speculate this fud might manipulate uncle Gary to reject the applications for the ETF again that have a deadline on November.



Sen. Elizabeth Warren, D-Mass., along with more than a hundred other lawmakers, said she is concerned about how Hamas raised millions of dollars through cryptocurrency and wants answers from the administration of President Joe Biden.

The slew of bipartisan lawmakers cited a report from the Wall Street Journal last week that said Hamas, along with other militant groups, used crypto as a financing tool ahead of attacks in Israel earlier this month. The letter was sent on Tuesday to the Treasury Department and the White House.

Source https://www.theblock.co/post/258183/sen-elizabeth-warren-joins-more-than-100-lawmakers-to-ask-biden-about-plans-to-prevent-crypto-financed-terrorism

Till date of? Maybe there are no positive news right now that can influence the price to rise but we can't predict what can happen in the future. So there may be another positive news that will once again lift the price of BTC later on. The first half of the month of October is done and I think the price was still the same as last month/s or close to it. I don't want to or I hate to say this but maybe we can be on that same price range again.

The price of BTC is measurable and it is currently in stagnation mode but we won't always remain on this position forever. For now or on this year, the month of November is only our hope to see if there is a chance for the price to break $28k and above, as what can happen to it will dictate the price that can happen in the month of December.

Yup, judging from the price action rn, BTC could be on its way in there.  And all the fake news talk, I dunno...  As long as there's a break out through 28k resistance and it stays above it, then that's all that matters.  We shouldn't really care the reasons for the move as we're just here to make a trade and make a little bit of money out of it.  And if the trade goes against us due to again whatever reason, we exit at a small loss.

I mean look at it.  It's a clean break above 28k.

I agree, we are doing fine so far but there is nothing that says we can't go up 10%+ or down. That means that we are not going to really know what the end will be like. Also when we are talking about the sentiment poll, we should talk about the days as well, it says it will be 30k+ and stay above, well that means if it goes down that option was wrong right? I am holding too and I think 30k+ will happen, the only thing I am not 100% sure about would be not staying above, because we may not stay above and we may fall and there are way too many sellers right now, that could be one thing I am not sure about and could be an issue.

Obviously it is not going to be that easy to go above 30k as well, that could cause some difficult task, but if we have enough people and companies that end up investing into bitcoin like this and keep doing it, then reaching 30k wouldn't be hard thanks to buyers, we need to just keep it going for a little while longer.

I read that there is a rumor that Gary himself was fired as a SEC chairman.


https://twitter.com/twobitidiot/status/1714247871418044500

His allege firing though has nothing to do with crypto, but in some political role he did in the past. Although this rumors has been circulated for months already specially after he appeared in Congress and it seems that the law maker is not fond of Gary, on how he answered the questions regarding crypto in general. And so the fake news continues and it's very important that we know how to read between the lines and not fall for it.

I'm a little confident that bitcoin might be touching the $30k level as the market sentiments are more than 60% bullish. I guess that should be enough to push bitcoin price a little higher than what we have currently at $28k. Plus, bitcoin have lowkey gained momentum since Sep until Oct it gained more than a thousand dollars in a 1 month time frame. I thought it's going to become worst than the August to September run, since bitcoin started dropping in June. This little momentum right here is telling is something that we're gonna start seeing a rise gradually until the next bitcoin halving. So yeah I'd give a little faith on the $30k mark at the end of October though we only have like 2 weeks max until November.

can't wait seeing this as we are 2 weeks to go..

it has been denied since October started and up to now there is no sign of getting close to it.

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Low
$28,138.22
High
$28,618.75

still the moving price in 24 hours is quite good but not enough to make to 30k.

wondering what could go in the next coming morning?

It also appears that it is not only bitcoin that is being targetted by fake news. There is also other fake news being shared that the creators of Roblox has begun accepting XRP for payments.

Are they beginning to use fake news as a tactic to anger the SEC? Uncle Gary is scratching his head.



On social media, false claims can spread like wildfire—even well after the source media has been deleted.

Roblox has denied that it will support XRP payments, despite claims that spread widely on Tuesday, telling Decrypt that any suggestion that gamers could buy Robux to pay for in-game items with Ripple’s XRP token is “inaccurate.”

The rumors began swirling late Monday when payments processor BitPay tweeted that users could begin using Ripple’s XRP token for Xsolla payments in supported games—and tagged the free-to-play games Roblox and Smite.

When asked why the tweet was deleted, BitPay CMO Bill Zielke told Decrypt via email: “There was an error in the tweet.

Source https://decrypt.co/202077/roblox-debunks-inaccurate-xrp-claims-says-crypto-payments-not-allowed

This latest jump does have me feeling a little bit more bullish. I forgot what it was like to wake up to a price thousands of dollars higher than when I went to bed. Looking forward to the day when I wake up and the price has gone up more than ten thousand dollars while I was sleeping. I think next year could be the year…

I would say that it is going to be decided a little later on. We are not at 30k yet and we haven't had a reason to go to 28k neither, it might be failing today but we are still at 28k so lets not rush into any decisions yet. I think it is going to be a fine month, but nothing major, if it reaches 30k+ then I will be right, I voted for that but that doesn't mean I can start celebrating just yet.

I believe that we are going to end up with so long story short I feel like we are going to end up with something that would be a bit different, and couldn't really end up a that different just yet. Lets wait and see, we have 2 more weeks until the month ends and if we can stay like this then that is great but if we can't then there is nothing to do.

^^ Ok thanks for this news, I was actually looking as to what has caused the sudden spike of the price in the last 24 hours. So there's was supposedly a leak news but it was fake.

But in the positive side, the price has taken off to $28k already, but we should be very cautious as it might fall back to $26k. Or if investors doesn't mind the news then maybe we can still hold on to this price up until the end of the month, it will be good then for the market, even if there is some entity with clear manipulation from behind.

@Natalim. Similar to many of the voters, I also voted for $30k and stay there. However, according to social media, the pump yesterday was caused by fake news from Cointelegraph when they declared that Blackrock's application for the ETF was approved by the SEC already.

This is head shaking because uncle Gary might say that the market is again being manipulated which will cause his decision to reject all of the application again. Also, this image is being shared in social media, I am quite certain this is a joke heheheehe.

I see the price trend has changed and it moves gradually high compared to last month. Not totally I'll be saying that this will be an indication that we are getting bullish because anytime corrections may come again. We all are hoping for a price increase but honestly, the global economic growth is affecting the demand for Bitcoin which is why we can't think that it rise like a bullet train. However, this month of October still be considered an ideal time for buying as we still have time left to catch up before it finally surpasses $30k.

This month of October had already been viewed to be a month for the market to rise and people make profits more during the rise of the market than when it go more dip, the sudden rise from $26,000 to $30, 000 and what i actually expected was to see the market remained at this than coming down low again back to $27,000 where it left already, today actually make another little and small history to show the display in readiness for bull market.