Is $34k the bottom?? - page 5. | Bitcointalksearch.org

bitterguy28

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Quote from: laredo7mm on January 23, 2022, 10:59:22 AM

Quote from: bitterguy28 on January 23, 2022, 02:15:27 AM

but 34k to be the bottom? I don't think so mate because the way market is telling us now ? there are even lower price to come for this situation and i hate to see this coming .

I have also seen this same scenario in 2018. When the market crashed many youtube said now this is the bottom you will never going to get this price to buy bitcoin again. They keep saying it every time bitcoin takes a dip. Maybe this time the same thing going to happen again. If we failed to create support above 30k then I do not know where this bleeding will end.

But i know one thing and that is in crypto opportunity will come again and again so the only patience soul will have the honey at the end.

That's why we must not be Blinded of the Idea that the bottom are already here because this is very tricky , we have seen many same cases happened in the past that manipulators are just trying to lure more investors by faking that the market is already recovering but the truth is the dump is continuously and they are just seeking for more riders before they finally dumped this market.
hope that this will not happen to many of us and we will learn from the mistakes we committed in the past.
just buy what you can afford to hold long .

Jating

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Quote from: Mamun74 on January 24, 2022, 12:34:34 AM

Today bitcoin price around $35k+.I think it was not bottom.Decentralization will be never stable. Bitcoin price movement and dump and pump so It's normal. When bitcoin pricie dumping then i think bitcoin price will be more increase again and i hope bitcoin price will be recover soon.I think bitcoin price will be reach $70k+ in 2022.

The price has nothing to do with decentralization, it's based on supply and demand and how the market is doing by buying and selling bitcoin.

But I do believed that this is not the bottom yet. and soon we are going to retest $30k. And it maybe hard for the majority but it is a retest and we will see how the market will react to that price.

$70k this 2022 might not likely to happen though, we are already in a bear market so there will be no all time high at this cycle.

Mamun74

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Today bitcoin price around $35k+.I think it was not bottom.Decentralization will be never stable. Bitcoin price movement and dump and pump so It's normal. When bitcoin pricie dumping then i think bitcoin price will be more increase again and i hope bitcoin price will be recover soon.I think bitcoin price will be reach $70k+ in 2022.

ancafe

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Quote from: adaseb on January 23, 2022, 10:11:34 PM

I don’t think it was the bottom. The stock market futures opened and went up 1% and so did Bitcoin however the stock futures are trading nears highs but Bitcoin is starting to correct itself and retrace the entire move, it’s pretty bearish.

Some low liquidity traders basically took advantage of the stock futures opened and quickly brought it up, but now that volume is returning seems like the bears are in control.

If stock market during NY opens negative then I can see us breaking lower than $34K.

we have to prepare for the worst for this. currently the potential for bitcoin is still very vulnerable to fall beyond the price of $ 34k or even $ 30k. besides, it would even be great if the bitcoin price stayed at its current price.
however, in the crypto world anything can happen. I just hope that the price increase will happen soon, but prepare for the bottom.

adaseb

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I don’t think it was the bottom. The stock market futures opened and went up 1% and so did Bitcoin however the stock futures are trading nears highs but Bitcoin is starting to correct itself and retrace the entire move, it’s pretty bearish.

Some low liquidity traders basically took advantage of the stock futures opened and quickly brought it up, but now that volume is returning seems like the bears are in control.

If stock market during NY opens negative then I can see us breaking lower than $34K.

GreatArkansas

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I rather zoom out to the chart and use higher time frames to really check the bottom.
Basing previous prices is good to spot the bottom, using other levels as support.

So for me, very high chance that we will test the $30,000. As it is acting psycholigical support for everyone. Very high possibility that that could be the bottom or huge candle wick on $28,000 - $29,000.

STT

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The 2 day and 12 hr averages converged and we got a recovery above both. So it could at least be the start of a process which shows that was the bottom price for this month. It has to build on that, there isnt any great signal a low will hold in that moment. Usually there is a peak in volume of some kind, but I think the double top or that idea it doesnt happen singularly is probably my best confidence for a turn around.

Shasha80

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Quote from: bekti3 on January 23, 2022, 02:59:10 PM

Quote from: TravelMug on January 23, 2022, 04:45:37 AM

$34k is like 50% of the last all-time-high, it's already a huge drop, however, if we compare it to the prevent bull runs and the subsequent downfall, it is about 80%.

So I will say that this is not the absolute bottom yet, maybe we can see another massive drop in the next coming months. But don't take things negatively, just continue to buy at this dip and accumulate BTC and then just HODL for long term.

yep, I agree with what you're saying maybe it hasn't reached that point yet and there's still a pretty high chance of looking to that point although I don't know when but I'm pretty sure the low point will be more than this.
on the other hand talking about hodl actually this is the current obligation.
other than that don't forget that bitcoin is an asset for the long term not for a week or two because it's not very effective.

Although there is still a possibility that the Bitcoin price will drop even lower, but we don't need to worry, because as we all know Bitcoin is
the best asset. So don't hesitate to buy Bitcoin if we have money, because of how deep the price of Bitcoin fell, Bitcoin proved several times
it could always go up again. So for me, who has been in the crypto world for a long time, I am getting used to the current bearish trend.
I don't care how far the Bitcoin price will drop, the most important thing is that I will try to collect as much Bitcoin as possible. Because when
the price of Bitcoin goes up in price, I can enjoy quite a large profit. I agree with you, that Bitcoin is more effective for long term investment,
so it does require patience to be able to generate profits from Bitcoin.

Slow death

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Quote from: sayulita on January 23, 2022, 12:43:25 AM

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.

this price drop is normal, there will always be big drops and big price increases and we cannot forget that the price has increased a lot because there was a high expectation of a physical bitcoin FTF approval, something that did not happen

Quote from: sayulita on January 23, 2022, 12:43:25 AM

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.

$32000

$30.000

$28000

bekti3

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Quote from: TravelMug on January 23, 2022, 04:45:37 AM

$34k is like 50% of the last all-time-high, it's already a huge drop, however, if we compare it to the prevent bull runs and the subsequent downfall, it is about 80%.

So I will say that this is not the absolute bottom yet, maybe we can see another massive drop in the next coming months. But don't take things negatively, just continue to buy at this dip and accumulate BTC and then just HODL for long term.

yep, I agree with what you're saying maybe it hasn't reached that point yet and there's still a pretty high chance of looking to that point although I don't know when but I'm pretty sure the low point will be more than this.
on the other hand talking about hodl actually this is the current obligation.
other than that don't forget that bitcoin is an asset for the long term not for a week or two because it's not very effective.

wheelz1200

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Quote from: sayulita on January 23, 2022, 12:43:25 AM

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.

TA aside history tells us that this isn't the bottom. Market sentiment is leaning bearish so we can easily dip in the 20s only a bad coue of days. I think 2022 crypto markets will largely be determined by the overall economic sentiment which is looking bearish as well. The world economy has been propped up for 2 years during the pandemic but at some point the economic impact will be felt across stocks, housing, commodities and....crypto. I'm buckling in for a long drought. Just enjoy the CA of your portfolio knowing it will break and continue to rise eventually.

palle11

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Quote from: sayulita on January 23, 2022, 12:43:25 AM

what is the next support to look out for in case the market bleeds more in the coming days.

I think if the bear continues then we are going to be looking at $30,000 support levels but RSI if it is to be considered, it has been oversold that means reversion is waiting but sometimes looking at RSI being on that mode may take time to start moving up. Therefore , you expecting support at $30k if dip continues.

laredo7mm

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Quote from: Jating on January 23, 2022, 11:34:46 AM

Quote from: laredo7mm on January 23, 2022, 10:59:22 AM

Quote from: bitterguy28 on January 23, 2022, 02:15:27 AM

but 34k to be the bottom? I don't think so mate because the way market is telling us now ? there are even lower price to come for this situation and i hate to see this coming .

I have also seen this same scenario in 2018. When the market crashed many youtube said now this is the bottom you will never going to get this price to buy bitcoin again. They keep saying it every time bitcoin takes a dip. Maybe this time the same thing going to happen again. If we failed to create support above 30k then I do not know where this bleeding will end.

But i know one thing and that is in crypto opportunity will come again and again so the only patience soul will have the honey at the end.

Yep, the memories of 2018 crash is beginning to repeat itself again. For sure majority of us here still remember that time, wherein we are really in denial after hitting an all time high in December 2017.

But 2018 specially around March was the start of a huge downturn, so for me this is not the absolute bottom, maybe we can see the price into the $30k or even lower. Specially if there will be another FUD that will scare investors.

This time the problem is not only fud. The two superpowers are heating up the field in Ukraine and war could break out at any moment. Inflation rates are at an all-time high, fed is printing more currencies and it is rumored that the central bank will raise interest rates on savings, allowing many to sell bitcoin. Again, the new variants of Corona are not allowing the economy to rise. I think this time the problems are worse than in 2018.

We should be prepared for the worse and we could see price of BTC around 20k again.

TheEconomists

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The bear market is not yet over and we should not because of we want to recover from lost to just make prediction that the bearish period is over. If you check your plot very well you will see that bearish trend is forming gradually and don't you draw that line too so that one can make and informed trading decision after more research.

Jating

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Quote from: laredo7mm on January 23, 2022, 10:59:22 AM

Quote from: bitterguy28 on January 23, 2022, 02:15:27 AM

but 34k to be the bottom? I don't think so mate because the way market is telling us now ? there are even lower price to come for this situation and i hate to see this coming .

I have also seen this same scenario in 2018. When the market crashed many youtube said now this is the bottom you will never going to get this price to buy bitcoin again. They keep saying it every time bitcoin takes a dip. Maybe this time the same thing going to happen again. If we failed to create support above 30k then I do not know where this bleeding will end.

But i know one thing and that is in crypto opportunity will come again and again so the only patience soul will have the honey at the end.

Yep, the memories of 2018 crash is beginning to repeat itself again. For sure majority of us here still remember that time, wherein we are really in denial after hitting an all time high in December 2017.

But 2018 specially around March was the start of a huge downturn, so for me this is not the absolute bottom, maybe we can see the price into the $30k or even lower. Specially if there will be another FUD that will scare investors.

laredo7mm

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Quote from: bitterguy28 on January 23, 2022, 02:15:27 AM

but 34k to be the bottom? I don't think so mate because the way market is telling us now ? there are even lower price to come for this situation and i hate to see this coming .

I have also seen this same scenario in 2018. When the market crashed many youtube said now this is the bottom you will never going to get this price to buy bitcoin again. They keep saying it every time bitcoin takes a dip. Maybe this time the same thing going to happen again. If we failed to create support above 30k then I do not know where this bleeding will end.

But i know one thing and that is in crypto opportunity will come again and again so the only patience soul will have the honey at the end.

The Cryptovator

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The chart doesn't talk really. However, still I am wondering what was the reason behind this dump. Likely Bitcoin wouldn't cross $40K this week and would play around the $30K zone. It's not about to dump below $30K and it shouldn't happen. Otherwise, we might face a big dump that we never expect before. Slow growth is better than a sudden pump, even it takes a week to cross $40K again I am fine with it. Because we are in a bear mode right now. Let's hope whales buy a big amount and announce that, so we can see a quick recovery.

Baofeng

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Just some bounce today, maybe it can go to $36k, nevertheless it is a weak bounce in my opinion.

So as for now, I would hit that we might the price still going down in the next couple of days. Support is now weak, volumes are low and sentiments are really very negative right now as everyone is afraid of the bear market.

Russlenat

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It's hard to tell now, the recovery is very slow, so I think let's not make a conclusion for now. IMO, if the market is bearish, then most likely the dip that we saw is not really the lowest price, more dump means more panic, that would possibly happen if we are already in a bearish market.

michellee

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I just hope that $34k is the new bottom and has not reached another lower price as the price now is back to $35k. But we can not deny if somehow, the price is going down and back to $34k and only accepting reality. If you already bought bitcoin at that price, you can sell your bitcoin and make a profit while you can wait for another downtrend but we never know if the price will still go down or it will increase for more. The fact is the price can go to any lower or higher price and we can only guess and speculate but we can hope that it will not go down again.

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