The low support level may still be tested during 2023. - page 4.

Yatsan

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

The idea that you won't be surprised if the price tests the $20k mark but assured that it won't are in contrast with one another. We all know how unpredictable this market is. The price could move in any direction, in any market price point and anytime, as long as demand supports that movement. We are just around half of this year and there are many things that may happen still. The anticipated bullrun is believed to happen next year, meaning, a price correction may still happen if anything related to this industry would pull the prices down whether it is just an FUD or not. Nothing controls the market price aside from demand, and demand happens to be a varibale being affected by many things.

But no matter ehat happens, best thing is to just hold. In order to do this, manage the risk on investing an amount because it would allow you to stretch you tolerance with bearish market patterns.

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

Despite the SEC issue between this known exchange Binance, I was not thinking that it becomes a reason for Bitcoin's price to fall to $20k (again). This situation only give a huge impact on Binance and BNB, with less effect on the entire market. Meaning, Bitcoin prices will fall but not to the extent that they drop badly. We don't need to believe those FUDs saying huge dump, will it does during the bear season but because of the said issue. So, I still hold and probably have to buy more when dumpers sell their coins at a cheap price.

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Quote from: Silberman on June 16, 2023, 02:28:46 PM

At this point it is impossible to know what the price of bitcoin is going to do during the next months, the price went below the 25k support level for some time but the bulls came roaring back and now the price is above 26k again, this tells me the 25k support level is very strong and we will need something more than the current speculation to break away from it, so unless new FUD emerges I think we may remain at the current levels for some time.

I'm not sure $25k has been strong support once bitcoin has dropped below it. But if the market and traders are taking their fundamentals seriously, I mean blackrock then maybe a price higher could set $25k as solid support.

There has been a lot of positive news floating around in the last few days which has also generated a lot of excitement on the lookout for the daily charts. I expect the trend to continue until the end of the month and $30k becomes evident. Well this is just hope because of my optimism for the market, but now the positive news will support my optimism.

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

At this point it is impossible to know what the price of bitcoin is going to do during the next months, the price went below the 25k support level for some time but the bulls came roaring back and now the price is above 26k again, this tells me the 25k support level is very strong and we will need something more than the current speculation to break away from it, so unless new FUD emerges I think we may remain at the current levels for some time.

indah rezqi

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Quote from: erep on June 15, 2023, 04:38:20 PM

Quote from: indah rezqi on June 15, 2023, 03:59:06 PM

>snip

I think todays news about the postponement of the asset freeze decision on Binance.us has temporarily halted FUD so price is potentially holding on to new support, the panic factor is due to investors/traders rushing to respond to the recent issues so they are accumulating high losses on their assets and also the support of whales which has sent the market down significantly.

But it's difficult to determine the next speculation until there is no final court decision regarding the freezing of binance.us assets, I do not expect another low but really hope that the $ 30k recovery can be recovered by the end of the month.

Of course it's not outlandish to expect $30k to test as resistance, and I'm inclined to believe the market will be looking to break down that wall once again later this month. Even after a new support level occurred in the last few days, today the market has started to improve with good movements. The bitcoin price has returned above $26k which is likely to continue rising until it hits $27k.

So there's really useless to panicking when the market is undergoing a correction. Of course I don't expect another low in 2023 although the $20k support level could still be tested, but due to the undoing of the BinanceUS asset freeze, I think it will also have a good impact on the price recovery.

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Quote from: erep on June 15, 2023, 04:38:20 PM

I think todays news about the postponement of the asset freeze decision on Binance.us has temporarily halted FUD so price is potentially holding on to new support, the panic factor is due to investors/traders rushing to respond to the recent issues so they are accumulating high losses on their assets and also the support of whales which has sent the market down significantly.

That is one of the reasons why a positive trend appeared in the market today, but stay alert because I think manipulation is still possible. Whales may prompt more panic selling for weak traders, so even if the bitcoin price is rising and appears to be recovering after the correction, downside risks remain.

Quote from: erep on June 15, 2023, 04:38:20 PM

But it's difficult to determine the next speculation until there is no final court decision regarding the freezing of binance.us assets, I do not expect another low but really hope that the $ 30k recovery can be recovered by the end of the month.

Some circles have urged the SEC not to freeze assets and not release their assets out of the US, that is the proposal. But however these can also be considered as good fundamentals to expect a trend change. Let's see what happens in the next few days, I think it will be interesting.

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Quote from: indah rezqi on June 15, 2023, 03:59:06 PM

I hope the new support survive better to support more attempts to break the strong resistance. I think I believe $24k wouldn't be too strong if the panic that followed FUD from various media was not handled with care, so it's best to keep DCA in mind as a backup strategy when making purchases.

I think todays news about the postponement of the asset freeze decision on Binance.us has temporarily halted FUD so price is potentially holding on to new support, the panic factor is due to investors/traders rushing to respond to the recent issues so they are accumulating high losses on their assets and also the support of whales which has sent the market down significantly.

But it's difficult to determine the next speculation until there is no final court decision regarding the freezing of binance.us assets, I do not expect another low but really hope that the $ 30k recovery can be recovered by the end of the month.

indah rezqi

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Basically I really want to get your post that has good arguments and analysis, but unfortunately I can't because of sMerit's limitations. I'm glad some of you are really prioritizing analysis over mere opinion or speculation, that is much more desirable as this is still a long term plan.

I hope the new support survive better to support more attempts to break the strong resistance. I think I believe $24k wouldn't be too strong if the panic that followed FUD from various media was not handled with care, so it's best to keep DCA in mind as a backup strategy when making purchases.

Franctoshi

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I love the fact that Bitcoin got a bounce at $24.5K Using the weekly candle, which the area should now be acting as a support level after it initial drop to the zone during the early hours of today , these zone happens to be a critical level for Bitcoin to hold in order for the price to further maintain its higher lows in the weekly time frame, hence next destination for Bitcoin maybe coming back to revisit the previous low of $15k. But having already gotten a nice bounce back to $25k is a good sign that buyers are stepping in and trying to hold the price from further drop.

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't).

Many people think that either $25K will hold as support, or otherwise price will re-test $20K again. This is more or less why I think neither will happen, but instead price will find support somewhere in the middle around $22K/$23K. I write this even has price bounces $500 to the upside from below $25K, but as for shorter-term time-frames, the structure still remains bearish for now without much bearish follow through.

The irony is that if $25K doesn't hold as support most people will consider the uptrend broken and therefore $20K to be inevitable, whereas there is a lot of support in between on longer-term time-frames.

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Quote from: hugeblack on June 15, 2023, 03:23:39 AM

I still believe that the 200 EMA works well as a support level, and if we happen to break it (a price below 25k), we will inevitably do a quick test of the lower level, which is at 21k, and then stability for a period around 23k to 27k but I hope that we will not see rapid growth above 34k soon, because this is sometimes an indication for pumping liquidity into the market at a time when you do not need it, as it is difficult for us to reach levels higher than 34k soon, and because there are no resistance barriers at those levels, and there is not enough liquidity to reach above 40k.

Unlike yesterday, bitcoin today is showing a positive trend again to counter the negative trend throughout the day yesterday. I mean bitcoin price has bounced back to $25.5k in the last hour which allows me to hope $24k won't be hit, let alone lower. Of course there is the risk of a downside that is worse than yesterday but as you said, it won't happen without a lot of bad factors hitting the market.

There has been some positive news supporting the recent price increases, but I still see traders being too panicked to sell especially for quick profits. Of course the market is still red, but 1 day TF has returned to green.

Quote from: hugeblack on June 15, 2023, 03:23:39 AM

Returning to levels less than 20,000 is impossible in the current circumstances and needs something very bad to happen.

That's right. The SEC is bad, but I hope the impact will diminish gradually.

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Quote from: michellee on June 15, 2023, 08:09:31 AM

Bitcoin can hit prices below $20k again but hopefully, people won't be shocked and panicked, especially since the price is now dropping again. The test for Bitcoin may be even tougher than before because if the decline persists, some people may not be ready to see it.

And market conditions are now more difficult to predict and coupled with the government tightening the movement of crypto, it can limit the movement of crypto and get people in trouble.

We must be aware of the current situation and prepare a budget to buy Bitcoin at low prices so that we can use this moment to accumulate more Bitcoins. And don't panic if we see the price drop and hold on to Bitcoin and buy it again because that is a good opportunity to buy again.

I think it won't see under 20k, that's just way too little and I think it will do better than that. Surely it is not a guaranteed thing but we need to remember that it is not going to be a big deal at all. We should be remembering that crypto is a situation that would end up with a big trouble if we keep this up.

I remember that we are looking at something that would make a big deal out of nothing if we keep this up, and I believe that we can't really make it work if we keep it going with lower and lower. Market needs a bit of up to continue, even if it is not a lot of up, even if it is not 30k+, we could still end up with like 27k or something, which would be up a bit and the traders need that, if people stop selling for a minute, we will see that happen for sure.

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

This is one of the best time for us to hold Bitcoin and other altcoins if we really want to make money in the crypto market. The market is not so appealing now and we need to make sure we are not misleaded by the news that could make us not to take this opportunity of buying low and selling high later.

Quote

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

It is of advantage to people that are traders to analyze the market and understand what the market is capable of doing next. Those who are not traders might find this very difficult because they can't understand the market. So many coins is down now and people that make use of this advantage are those that have the finance to invest in cryptocurrency in large quantities.

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Quote from: uchegod-21 on June 15, 2023, 11:46:46 AM

Quote from: Oshosondy on June 14, 2023, 04:35:10 PM

Bitcoin can not get to $15500 again, but bitcoin can still get to $20000 once more before going to all-time-high. I am waiting for $20000 once again for me to buy more. If bitcoin do not fall to $20000 again, I will buy some weeks to halving.

I too will advice people to DCA. It is a good strategy. An excellent strategy when bitcoin has decreased very well.

There is no guarantee that bitcoin will not touch 15k again. If you believe bitcoin can touch 20k again, it also means that it can touch 15k. It only takes panic to push 20k price to 15k and that's it. I least expected that bitcoin will go below 25k again till bull run and now it has happened. All you need do is to speculate it and when you speculate, there is a tendency that it will happen.

This is right. Nobody thought too that Bitcoin will go as low as 15K after reaching 67K. That price dip is more insanse compared to the current price to that 15K. Telling it impossible while more disastrous dip is already happened previously.

There’s a chance that the chart is forming another higher low for this bearish cycle. Actually, there is no solid bullish news aside from the SEC slow down on the interest rate since inflation is still there.

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Quote from: Oshosondy on June 14, 2023, 04:35:10 PM

Bitcoin can not get to $15500 again, but bitcoin can still get to $20000 once more before going to all-time-high. I am waiting for $20000 once again for me to buy more. If bitcoin do not fall to $20000 again, I will buy some weeks to halving.

I too will advice people to DCA. It is a good strategy. An excellent strategy when bitcoin has decreased very well.

There is no guarantee that bitcoin will not touch 15k again. If you believe bitcoin can touch 20k again, it also means that it can touch 15k. It only takes panic to push 20k price to 15k and that's it. I least expected that bitcoin will go below 25k again till bull run and now it has happened. All you need do is to speculate it and when you speculate, there is a tendency that it will happen.

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

It cannot be ignored if the price dives down again because some other negative things can affect the bitcoin price at any time, I even agree with you that in a few months maybe we will not see a green candle if the conflict between the two camps is still not over if they are still heating up chances are the price will definitely continue to have an impact.

Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

For me for the current year HOLD is the best way to maintain until next year's halving because we will see a cyclical movement that will occur in the following year and maybe that's what we hope will start a bigger reaction from the price increase.
For me, continuing to do DCA is the most effective way, but if you have more reserve funds to put into bitcoin, that's also a positive thing.

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Panic is the reason that the price of bitcoin drop and now that the price has been dropping gradually, I won't be surprised if we test $20,000 or even lower before the year ends. Bitcoin has the history of dropping ridiculously before halving so it is yet another time to watch out for windows of DCA because after this dropping experienced, the chances to get in afterwards for a lower low may be limited. Halving is surely a hope for another bull profit.

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

But for does who don't know much about analysis just take advantage of every price drop to buy more and always remember the rule is to buy low and sell high so no matter the wave of the market never sell for a loss, Instead search for more opportunities to buy lower so that no matter how long it will take for the market to make correction the profit will come in dual form first at the price of the last entry and next at the price it was before the retracement began.

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Exactly, bitcoin could be able to test support to its lowest price I believe if where is the price back at $20K in this downturn for example in a few months then I need to increase the budget I want to buy more with a lump sum so when it is at $20 K I can add more portfolio on bitcoin.

I would never panic as this is not a sell target anytime soon, but what I have to think about is that when it bottoms out I want to buy more and that should be considered from now on as it looks like downward support is a possibility for sure.

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Bitcoin can hit prices below $20k again but hopefully, people won't be shocked and panicked, especially since the price is now dropping again. The test for Bitcoin may be even tougher than before because if the decline persists, some people may not be ready to see it.

And market conditions are now more difficult to predict and coupled with the government tightening the movement of crypto, it can limit the movement of crypto and get people in trouble.

We must be aware of the current situation and prepare a budget to buy Bitcoin at low prices so that we can use this moment to accumulate more Bitcoins. And don't panic if we see the price drop and hold on to Bitcoin and buy it again because that is a good opportunity to buy again.

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