Here’s what traders expect now that Bitcoin price rallied back to $50K

TheGreatPython

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Quote from: rahmatrf331 on September 05, 2021, 05:32:41 AM

Markets tend to behave cyclically and if you can hold on long enough while managing your exposure it can be a steady source of income and knowledge, although it can also be very painful at times. The resistance at $50k was so strong that yesterday the price retreated to $47k, luckily it didn't drop below $47k. today the market is back to support to the figure of $50k but conditions are still very weak.
The turnaround is incredible this time around and many assume that bitcoin will break through to $100k later this year and traders making such predictions are actually just trying to cash in on their long-held buy assets.

I would say that up and down are the only options in the crypto world, or in any market really and that is why I do not think that there is any other option to pick. Bitcoin sometimes goes down and in that period you buy it because that is what you should when its low, then it goes up and that is when you should sell.

Honestly it is all about timing but even if you time it wrong, if you buy when it goes down, it may keep going down but eventually will go up, so if you time it right then you can buy at bottom and sell at peak but even if you do not reach that level of perfection you will eventually end up with doing it correctly if you could simply just buy when it goes down and sell when it goes up because those are the only options.

arwin100

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Quote from: darkangelosme on September 06, 2021, 05:44:54 AM

Quote from: bitgov on September 05, 2021, 04:24:16 PM

Quote from: Wakate on September 05, 2021, 03:59:46 PM

The speculation of the price of Bitcoin hitting $50k before going to either upward direction or downward direction will be determined by price and nature of the market. Bitcoin had already hit $50k and now already at $49k which can still go down before going bullish to hit its previous high.

Based on the positive news of the crypto be market from different corner, I think Bitcoin might decides to continue it's upward trend that Could hit $100k before the end of January 2022

At the moment, we can see that it is practically impossible to predict how Bitcoin will behave in the short term. This thread, however, is there to speculate about it.
Just as we speculate that Bitcoin could have $100k by the end of January 2022, we can also say that Bitcoin could have $200k at the end of January 2022. No one really can predict this, so all these amounts are just a lottery .

Every traders have different point of view no one can say what will Bitcoin can do in market this year except those who has big investment in the game or what we call big we call big whales. The only we can do is to do the rules of buy when low and sell when high.

Yeah not every traders we know have the same point of view towards on what will happen on future since each traders have their own predictions and strategy on how they execute their trades. But one thing we can look after their prediction and that is what is the prediction of majority then we can connect it since if many think about positive as well as it correlate to the market movement then we can say that we might see a bullish situation on next following days.

darkangelosme

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Quote from: bitgov on September 05, 2021, 04:24:16 PM

Quote from: Wakate on September 05, 2021, 03:59:46 PM

The speculation of the price of Bitcoin hitting $50k before going to either upward direction or downward direction will be determined by price and nature of the market. Bitcoin had already hit $50k and now already at $49k which can still go down before going bullish to hit its previous high.

Based on the positive news of the crypto be market from different corner, I think Bitcoin might decides to continue it's upward trend that Could hit $100k before the end of January 2022

At the moment, we can see that it is practically impossible to predict how Bitcoin will behave in the short term. This thread, however, is there to speculate about it.
Just as we speculate that Bitcoin could have $100k by the end of January 2022, we can also say that Bitcoin could have $200k at the end of January 2022. No one really can predict this, so all these amounts are just a lottery .

Every traders have different point of view no one can say what will Bitcoin can do in market this year except those who has big investment in the game or what we call big we call big whales. The only we can do is to do the rules of buy when low and sell when high.

bitgov

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Quote from: Wakate on September 05, 2021, 03:59:46 PM

The speculation of the price of Bitcoin hitting $50k before going to either upward direction or downward direction will be determined by price and nature of the market. Bitcoin had already hit $50k and now already at $49k which can still go down before going bullish to hit its previous high.

Based on the positive news of the crypto be market from different corner, I think Bitcoin might decides to continue it's upward trend that Could hit $100k before the end of January 2022

At the moment, we can see that it is practically impossible to predict how Bitcoin will behave in the short term. This thread, however, is there to speculate about it.
Just as we speculate that Bitcoin could have $100k by the end of January 2022, we can also say that Bitcoin could have $200k at the end of January 2022. No one really can predict this, so all these amounts are just a lottery .

Wakate

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The speculation of the price of Bitcoin hitting $50k before going to either upward direction or downward direction will be determined by price and nature of the market. Bitcoin had already hit $50k and now already at $49k which can still go down before going bullish to hit its previous high.

Based on the positive news of the crypto be market from different corner, I think Bitcoin might decides to continue it's upward trend that Could hit $100k before the end of January 2022

dezoel

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Honestly I believe that there is a good chance we could make a big increase right now, it has been around here for a while and even when the price tried to go down we managed to go up back to 50k level and that tells us something. It is the proof that even when price tries to go down, market will not let it go down and believes that we could do it, and that is what I am planning on doing sometime soon, it is definitely something that we deserve to do.

I am not saying that we won't ever go down, of course we will go down eventually but the reality is that we do not have to go down, and even if we do that will probably be a small drop first but then a big increase later on. It is just obvious that we are trying to break out right now.

rahmatrf331

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Markets tend to behave cyclically and if you can hold on long enough while managing your exposure it can be a steady source of income and knowledge, although it can also be very painful at times. The resistance at $50k was so strong that yesterday the price retreated to $47k, luckily it didn't drop below $47k. today the market is back to support to the figure of $50k but conditions are still very weak.
The turnaround is incredible this time around and many assume that bitcoin will break through to $100k later this year and traders making such predictions are actually just trying to cash in on their long-held buy assets.

buwaytress

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Quote from: Kusman on September 05, 2021, 04:12:12 AM

I wonder if PlanB will predict the price correctly in this year.

You're a trader (if I believe you) so you don't really have much "choice" but to follow the masses;) Much as I don't really follow, PlanB's direction has pretty much been the one still on track, with the least divergence from his lines. We're still not there yet, and the line's been a lot more stable than anyone's been plotting. I still feel 200MA's not comfortable enough for me to feel absolutely positive.

Kusman

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I think that the most of the traders are expecting to see the price at 100k dollars by the end of this year. After seeing that the price has reached 50k dollars, they believe that we will see a bull run also. And I'm one of them too actually. In the worst case, I expect a bull run starting in late October. After that, everybody will be eyeing Bitcoin about what level it will manage to reach until the end of the year. I wonder if PlanB will predict the price correctly in this year.

CaVO32

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Quote from: asrinur on September 04, 2021, 04:42:17 AM

Bitcoin is now at one of its last major high timeframe resistances after experiencing a dip a few months ago. Once bitcoin is able to break through this $50k resistance, there will be little resistance ahead until the old all-time high is hit again in the near term. However traders should be on the lookout for a possible move to $45k, while a break and close above $50k could lead to a rally to $55k.

Any possibility can really happen in this market. And everyone should be ready for what is to come, whether a lil bit of decline or going up. We can also exercise scalping to get small profits while waiting for the seemingly bullish run again. Wondering where are those people who were speculating bitcoin to go down as low as 20k, because the opposite happens in the market.

Jating

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Quote from: hatshepsut93 on September 04, 2021, 03:49:47 PM

IMO the market is in very undecided state now. On one hand the rate of growth has slowed down, and when that happens a downside movement becomes quite likely. On the other hand, Bitcoin just established itself above the psychological $50,000 level which is quite bullish. I think it's very likely that there will be a bit more upside movement, maybe $53-54,000, and then a new test of support.

Probably there is a lot of liquidation going on when we touch base the psychological $50k level that's why it seems that it's not gaining momentum and somewhat slow down. And it seems that there is a tug of war on both direction.

But we are still in the bullish phase, just very slow though and grinding everyday. Nevertheless, once this run goes again, $53k-$54 could be slice like a butter. Meaning it won't stop and those barriers and resistance line will be broken easy.

hatshepsut93

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IMO the market is in very undecided state now. On one hand the rate of growth has slowed down, and when that happens a downside movement becomes quite likely. On the other hand, Bitcoin just established itself above the psychological $50,000 level which is quite bullish. I think it's very likely that there will be a bit more upside movement, maybe $53-54,000, and then a new test of support.

asrinur

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Bitcoin is now at one of its last major high timeframe resistances after experiencing a dip a few months ago. Once bitcoin is able to break through this $50k resistance, there will be little resistance ahead until the old all-time high is hit again in the near term. However traders should be on the lookout for a possible move to $45k, while a break and close above $50k could lead to a rally to $55k.

buwaytress

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Yeah, I'm on for support at 43k as Kemarit says, breaking that decisively would shear back my expectations, unless a quick rebound back to 50k happens within the week after that.

Still plenty of time to see if we don't get past 52000 by Sunday close though. Keep the popcorn coming.

traderethereum

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Quote from: Kong Hey Pakboy on September 03, 2021, 11:22:53 PM

Quote from: irsada on September 03, 2021, 01:27:24 PM

On August 23 many traders and investors took profit at the price of $50k. but for now I think bitcoin's target is increasing maybe around $60k which indicates the market will be bullish again after a few days of correction.
this is the right moment for investors to add to their bags.

If the traders take profit again this time, we might not see bitcoin breaking through 100k because it's always getting taken aback because a lot of people are selling, hopefully it won't be the case for this time and we get to have more people hodl this time and wait for at least some time to take profit again.

When the traders can profit at $50k and can buy at a lower price, their target sell price will be increased and not at $50k anymore, but it could be at $51k-$55k or even their target price be at $60k.
It is exciting to see bitcoin price can back to the higher price of $50k and hopefully, the price can still stay at this price and in the next week, the price can increase more than the price now.
Yes, we might see another bull run for bitcoin price and rise to the high price and we could have the next ATH this year.
Hopefully, this month will be the month for us to make a big profit again.

Kong Hey Pakboy

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Quote from: irsada on September 03, 2021, 01:27:24 PM

On August 23 many traders and investors took profit at the price of $50k. but for now I think bitcoin's target is increasing maybe around $60k which indicates the market will be bullish again after a few days of correction.
this is the right moment for investors to add to their bags.

If the traders take profit again this time, we might not see bitcoin breaking through 100k because it's always getting taken aback because a lot of people are selling, hopefully it won't be the case for this time and we get to have more people hodl this time and wait for at least some time to take profit again.

Kemarit

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Quote from: cafucafucafu on September 03, 2021, 07:43:25 PM

Quote

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.

I think so as well.

$40k is probably going to be effective support though. Doubt people would be willing to let go of their coins below that level.

With so many major collaborations with the technology space especially there is no way that crypto is going to go back to the valuations that we saw a couple of years ago. The market has simply established and developed its resilience over time.

Yeah, that's the safe price, but the first support should be in the range of $43,000-$45,000. And it seems we are not getting to that price, again because that is the first line of support.

Another day to break $50,000 and remain there, we have a good rally and almost reach $51,000, but it wasn't sustainable as least at the current flow of money and trading volumes. Let's say this weekend will be on sideway pattern, and hopefully we can start fresh on Monday.

cafucafucafu

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Quote

Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon.

I think so as well.

$40k is probably going to be effective support though. Doubt people would be willing to let go of their coins below that level.

With so many major collaborations with the technology space especially there is no way that crypto is going to go back to the valuations that we saw a couple of years ago. The market has simply established and developed its resilience over time.

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Quote from: ene1980 on September 03, 2021, 05:26:34 PM

Quote from: jakdanyel on September 03, 2021, 05:01:24 PM

Breaking the $50k resistance again before having a dump was really critical and Bitcoin made it! Otherwise, we might have seen another boring period and the price would have started decreasing drastically. Now, this must be a sign for $55k and $60k levels consecutively. And after that a bull run must come to be able to see $100k at the end of this year in the worst case.

We cannot expect the valuation to break the all time high valuation in a short period of time. Majority are expecting the market to be on the bullish trend till December before the major correction and if we pick up the momentum now what would be the price by the end of December, may be around hundred thousand. Whatever be the situation now, expect a few more minor corrections on the way before we break the all time high valuation.

You really believe that we will see a $100k price before the year ends?

Most of these people claiming that Bitcoin would reach such $100k price before the year ends are in total BS talking because none of them wasn't so sure about their prediction they just go straight to the chart then draw a straight line on where Bitcoin would be headed during its bull run. But what I believe is that the ATH won't happen again because if it does I believe more investors should dig in already but it seems that most of them doesn't trust or they just really don't like how the decentralized crypto works.

If you look at the chart there's no one like Bitcoin to stay at $50k most of them are already dumping when they see a $50k. But if whales are very generous they won't hesitate to pump it faster to almost $60k but they don't because it's not worth it for them.

ene1980

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Quote from: jakdanyel on September 03, 2021, 05:01:24 PM

Breaking the $50k resistance again before having a dump was really critical and Bitcoin made it! Otherwise, we might have seen another boring period and the price would have started decreasing drastically. Now, this must be a sign for $55k and $60k levels consecutively. And after that a bull run must come to be able to see $100k at the end of this year in the worst case.

We cannot expect the valuation to break the all time high valuation in a short period of time. Majority are expecting the market to be on the bullish trend till December before the major correction and if we pick up the momentum now what would be the price by the end of December, may be around hundred thousand. Whatever be the situation now, expect a few more minor corrections on the way before we break the all time high valuation.

Topic: Here’s what traders expect now that Bitcoin price rallied back to $50K (Read 425 times)