Topic: FALLING FALLING! (Read 598 times)

We are actually very close to 40k now and it seems as if it just a matter of time before that resistance level can be broken and bitcoin can grow even more before the end of the year, I will admit that I am a little bit surprised by what I am seeing and I am wondering if the upcoming bull run is going to be way bigger than I anticipated, because a price of 40k when the halving has not even taken place may seem to indicate that bitcoin could surpass its previous all time high with ease.

  Well, obviously, the market is in an uptrend right now. If the situation is really in a bullish trend right now, then it's the month of December, which usually has a price increase every time this month comes before the end.

  Many expect that the entry of January 2024 will be the beginning of a minor bull run due to the upcoming halving in the month of April. Even I get excited about what can happen, but I'm not expecting anything, as long as we can get excited if we also have holdings, because excitement is meaningless if you don't have any holdings.

Market mostly changes as we have seen the price now has been above $39k of the bitcoin. If we see some positive steps in the market and a move we have to change our strategy but only if we have some loss in the previous one. By changing strategies there would be a guarantee of the project that how can we cover our own profit in some days and the time which we had given to ourselves. Most users just wat for the better market condition in which they can make their profit it has also a better thinking as compared to the first one.

Usually there will be a market correction after an increase like this, right? So basically there is no need to panic. Determine the next strategy and tricks to take advantage of the existing moment. Do you want to hold, or take prfits first and buy again when the price drops later. This depends on our strategy. What is certain is, don't panic, stay calm and wise to get smart decisions.

Maybe this is an unfavorable moment of the bull run market because the crypto market is now floating so only dump or pump prevails. How Are You Saying That Crypto Markets Fail? If the best token gets dumped, it's good news for you because you can bag yourself a cheap price. Also, when is the best time to buy tokens when the crypto market is always high.

and the correction is here, now bitcoin is trading at the 37.5 from the high of 38K and it is a good thing guys when the price is falling it means accumulating more. The news out there seems bad but you know forget about the noise the bad news is will be there but here we are come back stronger like always. Buy more and HODLLLL

And if that correction happens then we need to receive it with open arms, many people are afraid of watching the price falling, but they should not be, the price going down before the bull run would probably be one of the last opportunities to buy bitcoin for a cheap price that we may have and we cannot let it go just like that, in the case it appears of course, however it seems that despite the attempt to generate enough FUD for this to happen, the demand for bitcoin is so strong that such news did little to bring the price of bitcoin down.

But after all the bad news coming up and exhausting from the technical side I think yes we probably going to see a correction, the worse is 30K but I dont think gonna touch that level just watch out guys and keep the DCA 

I can't even find any double top op was expressing himself about. I think you need to check other time frames so that you can be assured of whether double tops is visible or not. If truly you were able to find our double tops then that would be a big bull trend or bear trend for the Bitcoin market depending whether it is an inverted double top or the other way round. I believe the bull market would not take much time to be available to us. All we need to do now is to keep accumulating and waiting for when the price of Bitcoin will shoot up..

We have been accumulating for the next two years. Actually its the full bear season so those who have been doing DCA for this long must have been sitting with a good average price for whatever crypto they are holding right now. There can be another major correction but that doesn't mean we need to book profit right now. If the market is falling then let it do that we will accumulate more in this correction. We have been doing this for years so let these few months do whatever they are planning to do with the market.

With the halving there are many chances that the price will rocket up and due to this we can also see the other coins prices to the moon. Not only bitcoin will have benefits from it but we can also expect some big move throughout the year from other coins and we can also have some big movements seen in the coming months before the halving that would be nice.
As we can also see the Eth price up with having the bnb and also there must be possibility that the bitcoin would cross this time $50k and that it would cross easily without any problem. Previously it was far better than the price it has now and we have seen its pumping and great move after the $20k and we can also expect the same move at the bitcoin halving.

I think with 2024 coming up and Bitcoin halving in April, the price may see some upside. If we follow the charts of the past, then we can definitely understand what is going to happen in the Bitcoin market in the coming days. But after the halving there is a possibility that the price of bitcoin will decrease a bit, I think that time the price of bitcoin may actually be in the middle of $40,000.

Maybe it's related to Cz's decrease in his position in Binance, so there was a temporary fall in the market, but I am pretty sure that he will recover. So I think, based on what I see in the chart graph, it will be a long position for a while.

Then, sell when you see a breakout in that chart reading. That's the same repeated cycle in the trading activity of every individual trader; in fact, this is if you know something about crypto trading as well.

Many are looking for temporary fud happening by CZ issue and get afraid to see more dump, but they don't even realize that there's more good thing to happen than that since what happen to those guys is small issue that can easily forgotten by many people. If recovers and it touch at $37k again for sure many people will get hype up again then find another way to accumulate. I also believe that any issue that might occur cannot do further damage since what's more strong now is the sentiment of people regarding on possible bull run effect brought by halving next year. For now I will pay an attention on what will be the movement of the market since for me this is a perfect time to accumulate since the market is currently giving us a discount.

If you look at the trend line, I think this is actually a good sign, considering that an upward trend is forming, and currently it is possible that it will experience a decline. If we are traders, I think it is useful to hedge, but if we invest then I I think releasing it would be better, considering that it could happen due to a strong push that the price immediately shoots up, or being an investor, of course you don't pay too much attention to price fluctuations.

I dont see the double top this is also a weekly candle what I saw is the price is trying to break the 35K barrier and last we hit 35K is a year ago so its good sign, Tho price is exhausting so I believe there will be a correction or stay in that level for long period

Just hold don't panic

If you have seen a double top, you need to check the time frame where it is present. This is one of the important we need to checkout for when we are looking for market patterns to use and trade in the market. Checking the time frame matters  a lot so it will help us to know if that could be a fake out. I have seen many double tops on the lower time frame but I don't consider that as an option for going fully out or in to the market. Anything you are planning, you in need to be very careful because this time around, fundamental analysis is what determines the upward and downward movement.

Without a doubt, if you are holding solid coins which have been on the market for a long time and that have a good set of developers behind it then there is no point at all on dropping those coins, in fact what we must do is the opposite and try to buy all the coins that we can, as once the bull run starts not only the price of all of those coins will go up, making them way more difficult to buy, but also I expect the fees and the times needed to wait to get a transaction confirmed to be very long, and you will want to reduce the number of transactions that you make at the time due to the high fees and congestion.

New investors tend to buy when the market confidence is high and sell when they see it getting low, that's how they see the market. When they see it's going up, they FOMO and start buying so that they don't miss out of the opportunity, while they miss the actual opportunities because they start selling instead of buying when the market starts declining because they fear they will lose their investments. These things will always be a part of the market.

It's only experienced and wise investors who see corrections as opportunities to fill the bags even more and sell when there are pumps after the corrections because even if you are not planning to hold for the long term, you can get good profits if you make short term trades with that. Imagine someone buying at $26k and selling at $37.5k, that's great profit for a short-term trade.

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 

Nothing is weird here but it's normal that Bitcoin is most of the times unpredictable and can move in any given direction. The less you expect it, the more it will happen. If you are not convinced, maybe what I will say to you will make you feel contented. Okay there is a bad news about Binance. It is said that it will stop minting BUSD and now remove the said stablecoins on their exchange.

I know it's not about BTC but it might have an in-direct effect to it like other negative news that we witnessed on the past. I don't expect that $23k will come so it might really come but I'm not alarmed with it. As you said, it's an opportunity (not a disadvantage.)

Here's an updated analysis of the BTC chart for Sept 2 (following the recent drop). Shows the liquidation ranges and important near-term levels.

Video: https://youtu.be/zjvVYA3NVbQ?si=xWUuPl9rXygR1xq9

We are now hovering on 25k levels and lets see if this one could hold strong or would really be totally on having some breakout which we know that indicators could neither be that precise or not. Forming out double-tops double bottom does indicate that it is really that indeed touching up a resistance or a strong support which it would really be indicating whether it would be able to hold up long or would really be having that total breakdown and it would really be entirely be depending on how this market behaves or reacts whether if theres some backed news or having none.This is the main thing that we dont really like on this marke is that it could really easily fucked up on whatever analysis that the entire community had been molding. No matter how good it is and no matter how established it would be but still it wont really be giving out that kind of assurance when it comes to precision and thats why it would really be just that wise on having that back up plans whenever the price might have some break out or not. Now that we are hovering on 25k which we cant really say that this one would hold and make out some bounce or would be totally be that having that break out and would go down even as low of 23k which it would be the next support. Somewhat its true that there are really that having the significance when it comes to fundamentals and news around which would really be neither a catalyst or would really be a reason on why the price could move up that way. If ever we do see some positive news then it would really be depending whether it would be negative or positive basing up on that one and since not all the time which the market or this space is really that reactive to that.

Douple top shows a resistance level depending on the time and now if it has appeared in a weekly chart that means a huge drop will occur to shield off other over value of bitcoin before another circle will begin until halving happens  Just as this will be happening to bitcoin, it will also have influence on altcoins and some of them won't get back to their initial price, some will become shit coins in the market afterwards.

I agree with you and I also think that as long as $25k support level isn't crossed the price will continue to go in upward direction. I also doubt that Bitcoin may hit a crash and the price may drop below $22k because it's the month of September and it has always been a worst month for Bitcoin. So far its value is still above $25k and that's kind of a good sign for us but still in the month of September the price may see another dip that could bring its value once again to $21k or even below that. Let's see what's going to take place in the month of September and we should also keep in mind the the case of SEC delaying Bitcoin ETF's that's worsening the conditions of the market. I believe that we may see another dip if things like that continue in the market, and there's a chance that the price may drop below the support level of $25k in this month.

Yeah, there’s a double top but there’s also a double bottom now formed since the price consolidated already on the 26K to 27k range price which is the previous bottom of the double top that you and OP pertaining. It’s a good sign that the price is slowing down now that there’s no bad news in crypto that will affect the price to move lower.

It’s too early for now to speculate more lower price since the 25K price support is still remains untouchable until now.

Glad I'm not the only one that spot that structure on the weekly timeframe. Think BTC will dip lower soon the price could deep lower to 16k or more . Hoping for the best but I don't think i will be buying more altcoins now cause of the double top structure afraid it may be a monthly retest which is signalying a downtrend continuation.

It's just weird though that after this, the price did go on a recovery and bounce back to $27k which is good as we thought that the price is going down way below $25k. But right now we have another downturn? what gives? I know that the market is very volatile, but there could be some negative news that affected the price in the last 24 hours.

So let's see if the price will go to $23k as you have predicted, if yes then it's a good buying opportunity again.

I don't know why many people are concerned about the BNB as I was reading and going through the topics created in this section in back to back 2 topics and 1 dedicated topic on the BNB recovery went through my view. Assuming the most particular reason that Binance is in the hype of you can top news due to the cases and SEC, fuds etc etc.. So I can give a simple answer for the BNB and support and future recovery as far as Binance exists BNB will have the potential to stand alone to the position of the top 10.

Binance has issues in the USA but they have some legal licenses in other countries so nothing to worry about here, There is no centralized exchange support just a hope hitter for those who invested in the BNB I think they won't make mistakes again.

It is well known that the halving will occur in April 2024. If we look at history, usually around this period there is a final reset before a parabolic rise begins. I don't think the bitcoin price will drop below 23,000. There are no prerequisites for that yet.

The most concerning Situation is BNB, The 206 Support is very near

I appreciate your TA but your POI's are very far from the current price in the market. I think it's better to plot only the POI you think the price will go to. I'm not using EMA in my trade now but it can also be used as dynamic support and resistance which is confluence with SNR. Additionally, the trend in the weekly timeframe is clearly bullish so what we see in the market is just a retracement. We just have to wait until market get enough liquidity to fuel the price higher and create another high. Possibly the price will hit $35k to $37k base on my analysis.

Considering other factors as well as the 200-day EMA, I think there is no going further down for now. The price touched the 200 EMA and is show signs of bouncing off it just like the previous bounce in June and also respecting the trendline.

We are probably looking at a consolidation phase

Hedging? Balancing is better imo. Keeping a good balance of assets and adjusting when opportunities arise to do so. Waiting for opportunities that will allow reduced price entries, lower DCA price. That's a better way IMO, than looking at it as hedging. We are already hedging against fiat by using Bitcoin over Fiat anyway. Unless, hedging with another instrument is what you mean?


The style of this post is very refreshing, welcome to the forum AprilBrown. For future reference, you don't need to format your post like an email or personal message if you don't want to but feel free to do as you wish.

Thanks and regards
BenCodie

Hy there i can see your post and i must say

Additionally, I don't have personal experiences or the ability to engage in financial transactions, so I haven't been involved in hedging or any trading activities.

If you're looking for insights into financial markets, technical analysis, or price predictions, I recommend consulting current market data, professional financial advisors, or utilizing specialized financial platforms and tools that provide up-to-date information and analysis. ADP Workforce
 
Thanks and regards
AprilBrown

Have you seen a double top on the weekly chart? what price will we go down to?Have you been hedging for a long time?