34K USD is not the bottom,but that's fine.
Just don't panic and don't sell anything.Stop bothering about the Bitcoin price(and altcoin prices).
The price drop was pretty much expected.Something has triggered panic selling,which triggered multiple automatic stop-loss orders on the crypto markets.I'm sure that the crypto market will recover from this cycle of panic selling and stop-loss orders,but we might be landing in the 20-30K price range,which isn't bad.
3 months ago,everyone was expecting a 70K-100K BTC price in 2022.Everything changed and I guess that everyone will be expecting a 70K Bitcoin price after one or two years.
I assume that having both crypto and stock prices dropping can be actually healthy for both the crypto and the stock market.
Topic: Is $34k the bottom?? - page 6. (Read 669 times)
There's a high possibility that we can experience a quick dump near 30K - 32K area before the trend reverse since it will need to fill gap in supports before price usually take off and create another bullish. There's a chance that a bullish trap might happened tomorrow since its opening of the week and usually it always hit support.
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.
Reasonable question , 34k is not that low expecting that we are now in green light, the prices is starting to recover as the time i type this so if this is the half of the recent ATH then i think this is the bottom that we are expecting and all the chances to buy must be today.
the train is running now and if you don't wanna lose that chance then best to buy now.
all my funds on hold are now invested to 3 different currencies but majority is for bitcoin and now I am ready to hold again for at least a year or 2, forgetting the market for a while now lol.
the train is running now and if you don't wanna lose that chance then best to buy now.
all my funds on hold are now invested to 3 different currencies but majority is for bitcoin and now I am ready to hold again for at least a year or 2, forgetting the market for a while now lol.
$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.
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.
The price that went around $34500 as the low bottom have recovered today reaching $36000. This is something like a massive price correction. More technical elements show the market to be bearish for some time period. However there is also possible chances of bullish market, but this won't be a immediate one. The selling pressure of Bitcoin have reached its high ever since 2020 March. This will also have its impact over the market.
We have not hit daily rsi levels this low in a very long time, only a few times in bitcoins history do they go below 20 rsi.
Even then there still is no point in calling the bottom, but we should be close.
If we can build a recovery from this point then things could start to look a bit better.
Even then there still is no point in calling the bottom, but we should be close.
If we can build a recovery from this point then things could start to look a bit better.
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.
And what if this rise in price is just temporary and the price would again reach $34k and breach that support as well, what would happen then, what is the next support to look out for in case the market bleeds more in the coming days.
You should not try to find a bottom of a 2 month long downtrend (that is part of 1 year price formation) based on 5m candles chart. Those are good for daytrading or finding good entry point for longer trades if you already made your decision based on higher timeframes.
Now is 34k a bottom? I can only say what I see on the chart. Rest is pure speculation:
1- RSI is oversold
2- fear/greed index is on the extreme fear for about 1 month
3- We are inside the strongest support range (30-40k), where vpvr shows the biggest volume traded. In fact we are right in the middle
4- we broke falling wedge patter. With price target of 30k$
To sum it up. Its highly likely that price will bounce from 30-35k range back to 40-50k range (we will see whats next based on current performance). But its too risky to call 34k a bottom.
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.
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.
before your thread there is a similar question on going but it is lower than you are asking as he asked about 30k being the lowest price for bitcoin
https://bitcointalksearch.org/topic/is-30k-the-bottom-for-this-dip-5382480
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 .
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.
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.
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