I think only the break past 40k upwards would really count as a proper rally noticeable by all participants. At this time sellers would be beginning to be proved wrong and shorts will close out which helps with continued movement upwards.
Topic: Is $34k the bottom?? - page 3. (Read 695 times)
BTC recovered back to weekly average but has to break range upwards just to meet its next battle at the downtrend now residing at 40k in inline with the decline from ATH
I think only the break past 40k upwards would really count as a proper rally noticeable by all participants. At this time sellers would be beginning to be proved wrong and shorts will close out which helps with continued movement upwards.
I think only the break past 40k upwards would really count as a proper rally noticeable by all participants. At this time sellers would be beginning to be proved wrong and shorts will close out which helps with continued movement upwards.
Going to 38k now
https://coinmarketcap.com/currencies/bitcoin/
from the 33k lowest couple days ago, so meaning your prediction has been broken because not only 34k but 33k is the bottom
though since the market is slowly developing meaning there is a chance that if can still dop low.
The price bounced after the correction a few days ago so the support is not as strong for a more basic $30k as many predicted it means bitcoin can still rise with full expectations, my conclusion is $40k being the next target.https://coinmarketcap.com/currencies/bitcoin/
from the 33k lowest couple days ago, so meaning your prediction has been broken because not only 34k but 33k is the bottom
though since the market is slowly developing meaning there is a chance that if can still dop low.
So buying at their low price is a bit tense whether to go further downhill or up but let's see now $38k is for a good indicator.
But I will look for the support points again and resistance with my observations.
Well, it bounced from that price so we can say that it is a short term support.
But to call it as a support for long term? I don't think so because I believe that the downward pressure isn't over yet.
RSI is at 35 and MACD is still below 0. Though it already bounced back in RSI, I think that we might see more downward movement in the upcoming days until we reach the $30,000 support. I might be wrong though and we might see Bitcoin going up to $40,000 in the next days but if it will not happen then this short rise is a trap.
Overall even it is bottom or not, buying at this price will give you higher reward in the long term so better to accumulate as much as you can right now.
But to call it as a support for long term? I don't think so because I believe that the downward pressure isn't over yet.
RSI is at 35 and MACD is still below 0. Though it already bounced back in RSI, I think that we might see more downward movement in the upcoming days until we reach the $30,000 support. I might be wrong though and we might see Bitcoin going up to $40,000 in the next days but if it will not happen then this short rise is a trap.
Overall even it is bottom or not, buying at this price will give you higher reward in the long term so better to accumulate as much as you can right now.
Talking bout RSI, anything below 30 is the oversold territory that suggests exhaustion of sellers and the end of a correction. It doesn't say when it will happen because low RSI can drag on for weeks, but it also doesn't have to mean lower lows from this point.
We were at 24 a few days ago, so even if this is a trap and I'm pretty sure traders will try to short at 40k and we'll keep bouncing up and down, the 30k level is a strong support. Chances of going down below it right now are low.
The most probable scenario is a channel between 30 and 40k with falling volume that will eventually lead to a breakout. It will either end with a last capitulation to the downside (maybe 25k?) and then a strong bounce back to 30k, or a breakout to the 40-50k channel and another period of sideways trading there. 30k feels a lot like 2018 6k support that we eventually broke to the downside.
The price was going nuts and now seems to have stopped falling for now and also slowly rising up for a little while as well. What are your thoughts, is it going to fall more or would it start to rise again and recover all the money that was lost.
And what if this rise in price is just temporary and the price would again reach $34k and breach that support as well, what would happen then, what is the next support to look out for in case the market bleeds more in the coming days.
must check the higher time frame mate such daily or higher if you want to make prediction because you're just basing using 5M time frame it cannot really tell what situation bitcoin has right now because its for everyday performance only, i mean you cannot see the whole structure of the graph or what trends it has right now. By the way I'm looking in the daily time frame right now and yes bitcoin already touched the demand area reason there are some green candles already on in a small time frame, but it doesn't mean its time to buy wherein i suggest must wait for the right trend.. And what if this rise in price is just temporary and the price would again reach $34k and breach that support as well, what would happen then, what is the next support to look out for in case the market bleeds more in the coming days.
legendary
Activity: 2576
Merit: 1043
Need a Marketing Manager? |Telegram ID- @LT_Mouse
Well, it bounced from that price so we can say that it is a short term support.
But to call it as a support for long term? I don't think so because I believe that the downward pressure isn't over yet.
RSI is at 35 and MACD is still below 0. Though it already bounced back in RSI, I think that we might see more downward movement in the upcoming days until we reach the $30,000 support. I might be wrong though and we might see Bitcoin going up to $40,000 in the next days but if it will not happen then this short rise is a trap.
Overall even it is bottom or not, buying at this price will give you higher reward in the long term so better to accumulate as much as you can right now.
But to call it as a support for long term? I don't think so because I believe that the downward pressure isn't over yet.
RSI is at 35 and MACD is still below 0. Though it already bounced back in RSI, I think that we might see more downward movement in the upcoming days until we reach the $30,000 support. I might be wrong though and we might see Bitcoin going up to $40,000 in the next days but if it will not happen then this short rise is a trap.
Overall even it is bottom or not, buying at this price will give you higher reward in the long term so better to accumulate as much as you can right now.
Going to 38k now
https://coinmarketcap.com/currencies/bitcoin/
from the 33k lowest couple days ago, so meaning your prediction has been broken because not only 34k but 33k is the bottom
though since the market is slowly developing meaning there is a chance that if can still dop low.
https://coinmarketcap.com/currencies/bitcoin/
from the 33k lowest couple days ago, so meaning your prediction has been broken because not only 34k but 33k is the bottom
though since the market is slowly developing meaning there is a chance that if can still dop low.
I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.
Maybe i will buy more when my enemy's blood is pouring in the street
This is also my though about the current recovery, I’m pretty sure bear market is not finish yet and the bottom is yet to seen. Most probably, $30k can be the bottom so if you bought at the price of $34k, taking profit now is fine since the price will still dump. Though its good to see the recovery today, but I don’t think its real.
The market gave the holder some relief in the early hours of Tuesday 25th January 2022, but it looks more stable at present.
cheating is indeed part of everything and this is how healthy community is when cheater is spreading here and there.
Just focus on your strategy and be aware of the possibilities of being a victims.
Next time someone mentions "Chinese New Year" or "Christmas" as a reason of Bitcoin price drop, I will send him list of holidays by country https://www.calendardate.com/year2022_holidays.php, and will ask him to use it every time he plans to buy or sell. And on December 31 2022 will ask for results.
What comes after Chinese New Year? Valentine's Day. Expect another price drop, as people would withdraw crypto to fiat, to buy presents for their beloved.Sounds plausible.
What comes after Chinese New Year? Valentine's Day. Expect another price drop, as people would withdraw crypto to fiat, to buy presents for their beloved.
We will see this after the Chinese New year, hoping for a good reversal.
Again Chinese New Year... Why do you consider that this holiday can influence on Bitcoin? You think that people would start to convert Bitcoin info fiat to buy presents? Bitcoin is illegal in China. Operations with Bitcoin are illegal. There will be people who will make such exchanges anyway, but their number is so tiny that market wont even noticed crypto movements.
Previous years proved that holidays, summer time holidays for traders, pandemic restrictions does not influence on the price at all. These are just excuses for newcomers to explain why their invested value has decreased.
It's because there are some speculators who really connect every holiday in the calendar year for bitcoin going up (or down) for that matter. Initially I thought that there is somewhat correlated, but like the last bearish trend, I remain optimistic that bitcoin will bounce back after the Chinese New Year but it didn't happen.
So after that I said to myself that it is bullshit to say the least. Crypto moves in positive direction when people are buying, simply as that, regardless if there is holiday in a calendar or not. And now that China has put a hard line stance against bitcoin, I'm not expecting any movement coming from them.
We will see this after the Chinese New year, hoping for a good reversal.
Again Chinese New Year... Why do you consider that this holiday can influence on Bitcoin? You think that people would start to convert Bitcoin info fiat to buy presents? Bitcoin is illegal in China. Operations with Bitcoin are illegal. There will be people who will make such exchanges anyway, but their number is so tiny that market wont even noticed crypto movements.
Previous years proved that holidays, summer time holidays for traders, pandemic restrictions does not influence on the price at all. These are just excuses for newcomers to explain why their invested value has decreased.
but those days are Gone , now even without Holidays the market can go up , like what happened in 2021 so meaning this is not the case now.
Chinese New year? when China had already dumped Bitcoin ? this will never take place lol .
We will see this after the Chinese New year, hoping for a good reversal.
Again Chinese New Year... Why do you consider that this holiday can influence on Bitcoin? You think that people would start to convert Bitcoin info fiat to buy presents? Bitcoin is illegal in China. Operations with Bitcoin are illegal. There will be people who will make such exchanges anyway, but their number is so tiny that market wont even noticed crypto movements.
Previous years proved that holidays, summer time holidays for traders, pandemic restrictions does not influence on the price at all. These are just excuses for newcomers to explain why their invested value has decreased.
You have a strong support zone on your chat and a reversal candle got formed after retesting the same zone twice but could that be a strong confirmation that the market wouldn't fall further. The answer is wait to see where the next candle will point towards still bear in mind we are in the bear season and so even if the candle could go up it would only consolidate and if the selling pressure gets high enough it would fall further
Historically yes, that’s a strong support and analysis but the situation now is really different and becomes more unpredictable. Though the price becomes more stable on $36k as of posting, there’s still a chance that it can go lower and I see as well the price of $30k to become the next support level. We will see this after the Chinese New year, hoping for a good reversal. currently bitcoin has not seen strong support so it is possible to go down again in the next few days. This decline is not the end of bitcoin, because this decline is only a market price correction at the end of the stock economic cycle. So we just have to wait, when bitcoin gets support again and everyone is waiting for bitcoin to bounce back after falling a few weeks ago.
You have a strong support zone on your chat and a reversal candle got formed after retesting the same zone twice but could that be a strong confirmation that the market wouldn't fall further. The answer is wait to see where the next candle will point towards still bear in mind we are in the bear season and so even if the candle could go up it would only consolidate and if the selling pressure gets high enough it would fall further
Historically yes, that’s a strong support and analysis but the situation now is really different and becomes more unpredictable. Though the price becomes more stable on $36k as of posting, there’s still a chance that it can go lower and I see as well the price of $30k to become the next support level. We will see this after the Chinese New year, hoping for a good reversal.
You have a strong support zone on your chat and a reversal candle got formed after retesting the same zone twice but could that be a strong confirmation that the market wouldn't fall further. The answer is wait to see where the next candle will point towards still bear in mind we are in the bear season and so even if the candle could go up it would only consolidate and if the selling pressure gets high enough it would fall further
We reached as low as nearly $33k levels. That is really a horrible fall and we are now a bit higher. However, that doesn't mean that it will keep going up, it just means that it is higher right now.
I feel like there is a good chance we could see it drop even more. Whenever there is a big fall like this, there are a lot of people who take advantage of it and buy from that cheap level and sometimes it rolls over and creates a good increase, but eventually they will stop. So, at that point if people think that it is looking good then it is looking good but if it is still going down and not normal then the price will keep going down for a long time as well, we could see even worse prices.
I feel like there is a good chance we could see it drop even more. Whenever there is a big fall like this, there are a lot of people who take advantage of it and buy from that cheap level and sometimes it rolls over and creates a good increase, but eventually they will stop. So, at that point if people think that it is looking good then it is looking good but if it is still going down and not normal then the price will keep going down for a long time as well, we could see even worse prices.
The price was going nuts and now seems to have stopped falling for now and also slowly rising up for a little while as well. What are your thoughts, is it going to fall more or would it start to rise again and recover all the money that was lost.
And what if this rise in price is just temporary and the price would again reach $34k and breach that support as well, what would happen then, what is the next support to look out for in case the market bleeds more in the coming days.
It seems to be the bottom for now, I think that right now bitcoin is not moving according to its own dynamics and instead it is moving reflecting the reality of the world, which right now is facing great uncertainty as we do not know if there is going to be another cold war being fought by the US and Russia, so the markets are incredibly unstable and this is being reflected in the price of bitcoin as well, so if things escalate then I could see the price of bitcoin going even lower than what we are seeing right now. And what if this rise in price is just temporary and the price would again reach $34k and breach that support as well, what would happen then, what is the next support to look out for in case the market bleeds more in the coming days.
I don't think $34k is the bottom as I thought the same when bitcoin was fluctuating around $45k and again when it found some stability around $40k but it eventually dropped down. I don't think we can consider $34 or even $30k as the support unless bitcoin's value cross $40k and rally towards $50k because we are witnessing gradual decrease in the value of bitcoin which is definitely not a good sign and these one or two days of minor recovery don't undo the damage which has already caused.
I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.
Maybe i will buy more when my enemy's blood is pouring in the street
This is also my though about the current recovery, I’m pretty sure bear market is not finish yet and the bottom is yet to seen. Most probably, $30k can be the bottom so if you bought at the price of $34k, taking profit now is fine since the price will still dump. Though its good to see the recovery today, but I don’t think its real.
The market gave the holder some relief in the early hours of Tuesday 25th January 2022, but it looks more stable at present.
No one know about how deep we can possibly get since any possibilities are there, we might see bitcoin go lower down on that figure so we should rise up our awareness since market is not looking good at the moment. If people telling you that it will be the last dip for bitcoin to reached then stop listening at them and do your research to find out the real scenario on the market so that you will not get burn by fire.
That's nice point so far, the market determinant is base on You and I, deciding in the nature of market fluctuations or regulations before you can make a necessary or unnecessary steps of cryptocurrency market, currently you have to make your own consultation or carry on a special research analysis of cryptocurrency, and the results will determine your wishes of investment or retaining and holding of your coins for awhile. The clause you potray that stipulates of stop listening to people is right, indecencies that your own experimental research you conduct will give you an accurate answer if the analysis is cogent. 
What you say is true that the current volume is decreasing but today there is a price change from yesterday because today bitcoin was at $36k and yesterday $35k.
I think the current standard for bitcoin prices is somewhere between $35k and $36k.
I am not sure about this as the price can be lower than what we saw before. Although the price now can increase and back to $36k and stay at that price for this day. But I am still optimistic that bitcoin will recover soon and no matter what the bottom price of bitcoin if you can use it for your own, you will benefit from that. If the price can sustain this price or be higher than today until the end of this month, the chance to lift to the other high price can happen next month. I think the current standard for bitcoin prices is somewhere between $35k and $36k.
Jump to: