Topic: FALLING FALLING! - page 2. (Read 503 times)

Bitcoin just do the same thing which is trying to break the resistance and if not surely we expect for another poke for the support, with the help of the technical indicators and proper plot of charts lines you can understand that they are trying to break the resistance or else we expect another form of charts like currently we are in the incline chart so if we didn't break the 40k this time sure expect another re-test for the 35-38k. I do TA this time because its never been late than nothing with the current hype of the market.

too many people gets too fixated on the correction not knowing its completely normal occurrence if it getting down i'm not surprised but I know not to dump my coin right now because its still undervalued compared to what it was few years back when it was reaching the ATH. as you said, halving might be good indication that the market will be rallying from now on becoming better and better in terms of value. there will be some corrections pulling it back, of course it was to be expected, it couldn't sustain straight rally until it hits even beyond $50K.
but just know that bitcoin isn't stopping at $35K, many news appearing, BTC ETF, ETH ETF, and many more, it remembers me the previous bullrun where many good news also appearing before bitcoin truly taking off, and at that time the bullrun was massive.

The strange thing is that when the price went up yesterday, many people were very enthusiastic about buying Bitcoin because they felt very happy that Bitcoin had risen quite significantly. And in the end, when Bitcoin experienced a market correction, they became panicked and afraid, and did not dare to buy Bitcoin again because they were worried that the price would fall further. Isn't this a bit odd? This should be a moment for us who can actually get more Bitcoin because the price is falling. Meanwhile, we still have high confidence that this is a market cycle that in fact Bitcoin's price will rise again, even bigger. As long as you don't panic sell when the price drops, as long as you still want to hold, then we will also get optimal results in investing in Bitcoin.

It is such a sad thing to see people who are still afraid when we are at 35k+ levels. Even if we fall to 30k levels, that is to be expected after such a huge increase and we shouldn't really be bothered by it if you ask me. I understand that it may not be all that great feeling to see it go down a bit, but we have gone up from 25k, and unless it goes under 30k, I am not going to fear the price. We are going to get closer to halving, so there will be a lot of people who take profit and wait for the halving and buy after that, literally like one day after it. So we should calm down about these dips here and there, its normal and it shouldn't fear us, because we know it will still go back up again.

People would really be usually making out those purchase or buy entry on the time that the market do make out some move or simply having those 5-10% upward movement or simply they are really that doing FOMO and
on the time that the market do make out some dumps then this is where they do hesitate on buying or placing buy orders on which this is really just that indeed a very common behavior of most investors or even to those traders on which it isnt really that shocking that they've been doing such action everytime that market would really be making out those movements. Take for example as of this moment on which price of Bitcoin did make out such correction just on what i have posted earlier for some image;
https://bitcointalksearch.org/topic/m.63158874

So whats your take on this particular situation? Holding up more for possible more dump or would really be taking up the opportunity on buying cheap?
No one could be able to take up the right choice considering this market is really that unpredictable and this what it do makes us to hesitate.

Their is some certain things that is totally base on imagination and assumptions in cryptocurrency technologies, its well known and understanding that both bitcoin and altcoins is unpredictable, so therefore theirs every tendency that price of bitcoin can drastically decrease, because the increment of bitcoin is been determined by the conditions of the market, mostly when the price of bitcoin decrease it can be as result of demands and supply in the market, like its obvious that when the demands is higher than the supply the price of bitcoin skyrocket, so therefore bitcoin price is unpredictable.

Their is every tendency that we may experience halving in 2024 or not, because the way I'm looking at stuffs concerning cryptocurrency things interchanges.

No body can tell if the price is going to drop or not, when looking at Bitcoin price it have not indicated fully that the price will drop excessively in the Market but is giving a sign that the price of bitcoin some increment fractions is decreasing, and it's understanding that the price of bitcoin falling and rising determine the gravity of other coins rising and also falling, so therefore I believe that bitcoin price regulates other coins and nobody will know the coin that will first drop on value before any other.

Great. For traders/short term, each level will be calculated using technical analysis because if they make a mistake when entering the market, they will experience losses, in contrast to investors/long term investments, they enter at the price right then and there and continue to make purchases whatever the price. Microstrategy example, and we all know that at the current price they would already make a huge profit if they sold it.

What's better is to enter or buy when we feel confident and have a plan. This will make it easier for us to make decisions and take action. Bitcoin does not discriminate, when it is in a bullish or bearish phase its movement can create long candles.

A growth is important but the ones we saw last time are only artificial because it was only a product of a fake news anyway. It's only interesting on how the price can react immediately to it but it won't also be possible if without those people who take it seriously. They easily FOMO which is wrong but maybe they already learned their lesson there, and maybe they will now be more careful next time about their actions.

If you think more opportunities are going to be unlocked once ETF for BTC have been approved, then don't say that the growth will only last for the short-term. Why settle for the short-term only when there are lots of goodies to come? Unless if you lack in patience.

All Resistance and support levels eventually get broken through. It doesn't matter if they are dynamic or key levels. It all just depends on one's point of view. When you view using shorter time frames, you will also notice a lot of break throughs, scam wicks and fake outs. Longer time frames reduce such noise.

I didn't say we are in a bearish market, but we are likely to see some pullbacks as we keep getting to newer levels.

But for sure many would provably doubt on current situation since although we see some good pumps happen for BTC recently still they are afraid to experience a bull trap since some people talk about the possibility that it could happen. That's why if we are really into investing on bitcoin maybe at the moment we should never look for short term since it will never result good to us since for sure that we will experience to see a lot of correction so better accumulate then hodl until next year to see more better result. But still its up for the investors preference if they could able to wait for long time frame since not everyone have high patience to wait for a year since majority of investor want a fast profit. For now many people speculate good about the halving so there's a huge chance for holders to gain from its effect or hype that could bring to people when this season occur.

Yes Bitcoin topped at the double top back in late 2021 however in 2013, 2017, 2021 when it approached the prior ATH, many assumed it would be a double top but it wasn’t and broke straight thru. So it’s not a good indicator.

A better indicator is to look at the way the weekly candle closes, it if closes with a big wick then chances are that the top might be in and it’s time to get out.

Firstly, there is no invitation to buy here. If you have Bitcoin hold it. If you want to increase the load, just buy it, it's up to each person's choice.


Yes, even though there is a decline in Bitcoin prices, the 4-year price movement circle after the halving will bring Bitcoin prices up again. Actually there is no harm in buying Bitcoin at a price below the previous level.

But again, it all depends on our own choices. Whether you want to buy it or not.

Since the fake news about an ETF being approved the price experimented an important growth, so it is likely this is already priced in however this is only when it comes to the short term, as the approval of an ETF will lead to more of them being approved and this will bring a huge deal of money and new expectations for this market, so someone looking at the short term should probably wait, but someone looking at things from a long term perspective should probably invest now and stop wasting their time.

DCA is still good just for an assurance to accumulate more right before bitcoin reach above 40K level. You’re right that this current bullish trend might collapse anytime but I believe the price will still recover at some point since there’s halving next year which is one of bearer of positivity in Bitcoin.

You can still benefit on buying now if you will just hold still no matter what will be the next price movement of Bitcoin in the following days. I believe that SEC will just delay the announcement as much as possible instead of declining or approving any ETF since they already lose one case recently about declining an ETF approval.

You should be careful about that bro, because as you say price is currently drive by good fundamentals, especially by the ETF pending approval by the SEC. But how the market will react once it will happen? Seasoned traders buy the rumors and sell the news, so we are likely to undergo a dip when the first Bitcoin spot ETF will get accepted even if it's before the halving. So I don't think it's time to buy more BTC currently.

When the EMA 200 was broken and the trend changed, I also don't dare say that now we are still in a bearish phase. Apart from discussing support and resistance with TA, Bitcoin's fundamentals have also improved recently, Fomo halving and ETFs have made investors and retail feel confident that BTC will continue to rise. So regarding the OP who stated the double top has been refuted because Bitcoin experienced a rebound to $38K a few days ago. This is very dangerous if we go against the flow, especially with Bitcoin's fundamentals which have been good recently.

I tend to agree with this, I didn't monitor the market condition for about two months but I expect that the market will have a bullish trend, especially in this last quarter of the year.  Which is you're right to focus on the broader, long-term perspective.

Short-term fluctuations may remain unpredictable, we don't know yet where the price is heading, and it could be those predicting the market price will make FUD and won't help the market.

However, IMO, the market might seem more likely that we're encountering strong supply zones rather than a prolonged bearish trend.  The consistency of price respect for those areas strengthens the case for their significance.

Right, and just like that, those FUD by the OP (intentionally or not), was invalidated, and it just shows how Bitcoin market is, we really don't know where the price will go short term, so what's more in long term? And with that, prices is moving around the $36k-$38k, so that will be the resistance/support line for now. But we will see, October changes the landscape, investors pouring their money pushing the price to the levels that we have right now. And sometimes it's really good to comeback to this not so old thread and see the hit or miss prediction, or in this case the FUD by some members.

Not only that, we can also see a strong support to that area. Dynamic support and resistance have lower probability compared to key levels. If you change your time frame, also the EMA but with key levels no matter what time frame is that it remains the same.

I don't think so that we are still in the bearish market since you said it's retracement but I can say that those are strong supply which there's a high chance that the price would respect that area.

UPDATE:

So the Bitcoin price decided to obey the 200 EMA as a support level and bounced off perfectly invaliding OP's FUD. I think we might see some retracement towards the $40K zone.



The POIs are just for reference at a later date depending on market movement and given the higher time frame, they are also further apart unlike those for shorter time frames. I mean, look when we last discussed this. Almost 3 months ago