Topic: Challenging the lows, 25.5k and lower possible break here - page 2. (Read 363 times)

Stable or the calm before the storm,  its indecisive to me and Im not sure which direction it will take especially.    I do take the point that higher lows are still indicative of a bullish market however subdued:
Im not sure of 42k this year but I find that more probable then making a new low or a low below that seen since 2022.   Autumn can be a rough market but didnt we already have that action already occur, if BTC is already tried and tested in its selling capacity then it may not move much further down.
   I think our realistic range remains 24k to 32k until it breaks and proves some strength past either of those boundaries.   We are negative within that range but we are able to maintain prices above 2022 August and more recently February and that might be enough for now to hold and wait for more positive sentiment across all markets etc.

weekly bars, blue is 1 year and yellow is 200 week or 3 years 10 months  quite long term.  Both averages are rising which Im told is most important consideration.


Bitstamp VOL OBV

The price of Bitcoin is very much stable at 26k and there is very rear chance that price may drop below that. The main reason of my believe is the halving that is coming up next year. Its just a small dip and there is strong possibility that bitcoin very soon regain its lost price of 30k. We just need to be patient for this price correction and don't need to sell our holdings in panic.

Exactly, let just watch what this month could birth to because I don't see any signs and strength (signals) to show the market will be negative or positive. All I see from the market is neutral and that may also last for another 30 days and more before either negative or positive.
But at this point investors remains mute or possibly involved in DCA. Probably who knows if that is the best option now for investors or to those who panic over the market.

Yes, same here I'm neutral here, I don't think though that we might go down below $25k. There could be pressure, but I'm seeing the bulls trying to defend that $25k and in the last couple of days they actually did it.

But there are so much resistance around $26k level, we have achieved $26,500 but it was again short lived. So let's see, we are entering the last week of this month and so most likely we might maintained that $26k price.

One thing to point out that not many aren't acknowledging is that for now (as of writing) price remains in a parallel / bullish channel. Granted it's at the very bottom support level of this channel without showing much (or any) signs or a rebound, and no doubt if the support breaks we can see lower prices, but otherwise this 5.5 month consolidation at the top of a trend (from $15K to $25K/$30K) remains a bullish structure.

If we compare this to early 2022, Bitcoin had been in a downtrend for a few months prior to a bear flag style consolidation at the lows for another few months that led to another leg down. Currently Bitcoin has been in an uptrend now for a few months with consolidation at the highs for a few months, that if broken to the upside could quite easily lead to around $50K prices,as a continuation of the uptrend following months of consolidation.

Either that or we'll see a re-test of liquidating around $20K to $23K and effectively a "reset" to a more neutral market, as admittedly between $23K and $25K there is very little volume to support price, even below $26K there is a notable decline. But otherwise to think that miners/companies haven't had months to pay off debts above $25K isn't quite true, with even a fair amount of time above $30K as well.



Personally my main scepticism for further upside remains reclaiming around $28K and $30K where there was a lot of distribution as can be seen by volume profile. I guess either way I'm keeping open minded until $25K breaks, as there remains some bullish structure in the market especially with price reaching considerably oversold levels, even more so than FTX crash that marked a low in the market.

I still remains neutral about the market and there is no sentiment from my ends, because I know that surely the market  must always have face to drive to i don't know why the panic is much towards the market, and I think this could be the cause of the not creating any changes couples with the selling pressure, i was shocked to see that market dropped to $25k I think before gradually touches 26,500 which think it was a retracement to finally bounces back to 28 and 29k.
But let not be too worried over the price because certainly we must see it bounces back to its previous price before we may witnessed another ATH, currently the market is controlled by fear and uncertainty due to the huge dump of SpaceX who knows. 

After the collapse of the price below $31,000, the continuation of the price below this level means more selling pressure, especially since some miners and companies need to pay off loan debts, which means that they are forced to sell instead of waiting for a longer time. all of these things make the price stable below $26,000 with the possibility that The decline continues for a longer before the price begins to easily rebound above $42,000.


Price movements are what will determine whether we will be at 21,000 or 42,000, but we will definitely not settle at 25,000 for long.

My investment horizon is from cycle to cycle, so I am positive. It is true that the price performance this cycle has been a little disappointing, and that we have been waiting a few months for the price to take off and it has not.

For the next few months it would be normal for the price to rise to around $40,000 or maybe even more, as this has happened in previous cycles, but who knows, just as this cycle has been the one with the lowest returns, we could also find ourselves with sideways to halving.

Earlier in the year I assumed we would have a echo bubble with bitcoin. Basically a bubble like the previous but not as large. I assumed we would hit maybe at least $35-45K. And get a blow off top. However we didn’t really get  an explosive action like I assumed.

So maybe we get one more pump and then we stall like stock market or maybe we already hit the high at $31K. Most likely we won’t know until we get closer to October. The etf most likely will be delayed and won’t have any impact until then.

Because it's 2023 and I see so many experts predicting and speculating about crypto, especially Bitcoin, of course it's a little confusing for those who invest and will cause various speculations on the crypto market in general.

However, if you want to challenge the lowest Bitcoin price this year, if in my opinion Bitcoin will touch the lowest price of $ 25,401. for the year and $35,000 highs, it can be assessed from the current developments in the crypto market and last week it touched $ 25,812.68, meaning that for $ 25,401 it is most likely based on my personal speculation.

But anything can happen as we have seen before, what is certain is that all of us have our own confidence in the price of Bitcoin in the future, regardless of speculation in circulation.

Why do you believe that next month will be a good month for bitcoin, what do you base it on? Because many people were also expecting and saying in August bitcoin will cross $35k but so far we are even trading at $26,000 and more likely to drop to $25k. Historically, halvings have not activated an immediate bull run, but a real bull run usually occurs 1 year after the halving. So that won't be a reason for bitcoin to rally and hit $40k before the end of the year. To do that we need big positive news.

From the look of the price movement of bitcoin at $26,030,we might have a drop below 25k but I don't think it will be possible for the price to go below $24k. Next month will be a good month for bitcoin for there will hope for bitcoin price to bounce back to $30 again. I believe that the moment the price hits $30k,it will break the resistance price of $31k and move above that. I also believe that by the end of this year we will see bitcoin price at $40k because the halving will be next next April and that is a good reason for the price reach $40k.

Everyone is different in seeing the moment and also in taking advantage of it and also in finding out about the causes of the frequent declines and increases in Bitcoin. You may not be a short term trader so you are not very interested in finding out why Bitcoin has decreased in price this week, because those who still like to trade with Bitcoin especially in the short term will continue to find out why Bitcoin has decreased in price besides they are looking for potential which could make Bitcoin rise again before next year.

Bitcoin price is still moving sideways and is still in the $26K range, although there are occasional bounces to the upside. But it never lasts long at this point so that the price of Bitcoin still tends to return to $26K although I personally still believe that the moment for a bigger increase is still possible to come back and happen to Bitcoin at the end of this year.

I think this price tensions is due to the recent dip of the coin. But according to me this is just a temporary move. This is because Tesla selling huge amount of Bitcoins and hence price went down. If you start speculating on each and every incident, then it only shows that you lack patience. I am expecting that at the end of September Bitcoins will cross 30k usd and next year ATH price is must.

I think it's still a bit early to assume whether the rest of the year will be bullish/bearish/neutral, but I'd say relatively neutral for now between $20K and $30K. Price needs to reclaim $28.5K in order to return bullish, which for now I find unlikely given the months of distribution that has occurred at this level. I'm otherwise not entirely bearish until the $25K lows have been taken out, then I imagine $23K will be next.

Earlier in the year I was anticipating a re-test of $23K support/accumulation level, but instead it never occurred with $25K resistance being turned into new support. However I think this level is back on the table with $30K confirmed as resistance, especially since bulls think that $25K will continue to hold while bears are waiting for $20K again, so somewhere in the middle around $23K seems more likely as a new support level.

The recent $BCOIN ETF launch otherwise didn't help, as expected, with price immediately dumping afterwards (as per always with ETF/future launches: ProShares, Bakkt, CME & CBOE). So hopefully if we can avoid any ETF approvals this year then price can probably remain relatively stable/neutral. Otherwise we could see not only $20K but a return to the lows if ETF's get approved this year. Let's hope that's not the case.

I don't even want to know why the price of BTC fell this week, because I'm more interested in finding out when the price increased significantly and that's my big difference from them. I think I agree with your opinion, when the BTC price drops, of course we only have one chance to make a purchase and for those who still expect a bigger decline, they will definitely miss the moment of buying because they are still worried.
 
Maybe in this month BTC is still struggling to break through $30k because the selling point is quite high on that wall. However, this drop was short-lived and I think the BTC Price will slowly come back up again.

I don't want to see another $16k number and hope it doesn't happen again. There's always a surprise before the halving maybe this is a surprise for those who want to buy at the dips.

Zooming out on the chart and not being familiar with the causes for the previous dumps, I would say it looks like a visit to $16K is in the books for the future. I think that’s what is scaring away buyers at the moment. However, I don’t think that’s true, but I wouldn’t want to be a trader right now. For long term holders though, this should be viewed as a good time for dollar cost averaging.

I agree with Frank about the bottom pricing being  a good guide maybe the best guidance for the path BTC takes.   I do think any commodity price can drop below its costs, though it should result in constriction of supply in theory.   BTC is slightly different in trying to regulate supply to match a 10 minute regular issuance, we notice this massively when demand is there and BTC supply remains quite constant.

BTC back to its range of lower 26 thousands roughly, in play since the bigger sell of about a week ago.   Right now we have been trading more positively since this sell threat was extinguished.    This is comparative, imo we remain on a tight leash till proven otherwise.
  However  point of note last 24h is weekly average caps the highest prices.   I dont expect much till we regularly can place BTC above its last 7+ days of price action, today we cannot.

For Bitcin, around 40 or 50k may be good levels. I don't expect these levels towards the end of the year, but Bitcoin always surprises us. What is important is the recovery of this decline in Bitcoin price. If it can be recovered in a short time, I would like it to come to the prices you said.

I wonder how long it will stay at what price level if the price drops further. After all, Bitcoin can suddenly increase its price.

With this current dump, we should not loose attention thinking we may be going on this for long or it keeps going more bearish, bitcoin as at the time is expected to run bullish, this may not come in as fast as possible anytime sooner but we could actually have an experience of it little by little, this is a time where bitcoin market should not go dip to this far than we expect to reach around $40,000 or more, but little more time will prove how realistic this could be.