This bullish momentum - Breaking through the $35,000 mark - page 2.

taufik123

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Quote from: goaldigger on November 15, 2023, 05:18:37 PM

Many will take profit early and that could stop the up trend for a short time but of course we are still bullish with the price and we are now back to $37k mark, the price of $40k is within the reach, we will see that before the year end for sure. The volatility is normal with Bitcoin, so know how to deal with it and always have your strategy. The bullish trend is still strong, and this is a better year and a better trend compare last year, expect a good price before the year end.

Those who take profits early only aim to make quick trades.
When the trend goes up, many will sell for quick profits.
But just let them be Weak Hand in holding Bitcoin, they just become sellers without caring if Bitcoin reaches ATH or not,
the important thing is that they profit in short trades.

The more who sell, the less those who play too much with the market.
In the end, they will participate in pumping up the price of Bitcoin with a pretty good trend and there are some new investors who enter looking FOMO.

Currently, the volatility is quite high and this proves that many are starting to enter Bitcoin,
and more and more money flows are circulating with Bitcoin's dominance going up.
The $40k price will be the next target, maybe this will happen by the end of 2023 if the trend continues to be good like now and the ETF is approved.

Kemarit

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Quote from: Captain Corporate on November 15, 2023, 05:37:20 PM

By the looks of it we had another good day, and let that be a lesson to all those people who started FUD talks right away as soon as they saw it go down just a little bit. They were all talking about how bitcoin was going down and would it be 30k again and would we see under 30k and all that, as you can see we have not lived through anything like that at all, and we should be proud to be seeing it go like this. I understand that it may not feel that way to most people, but that is how it is today here, we are above 37k again and went %6+ high in a single day. This is mainly because we are in the bull run period and we should be quite happy with what we have, there is nothing wrong with bitcoin at the moment, and it will keep on going strong.

Yes, and as per TA, RSI looks solid as this point that's and so it coincides with a great increased again in the last 24 hours and it was just like showing to those FUD that Bitcoin is not going to be affected by any negative news, on the contrary it will make the price goes even stronger as the market has matured already and there's no way that we will listen to this FUD. So let's see, this month is still very long, lots of days to accomplished that $40,000 levels. If we can't reach that this month, a good $38,000 price is not that bad and then by December we will continue and try to breach that round numbers again and maybe it will carry on till next year as we approach the block halving.

Captain Corporate

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By the looks of it we had another good day, and let that be a lesson to all those people who started FUD talks right away as soon as they saw it go down just a little bit. They were all talking about how bitcoin was going down and would it be 30k again and would we see under 30k and all that, as you can see we have not lived through anything like that at all, and we should be proud to be seeing it go like this. I understand that it may not feel that way to most people, but that is how it is today here, we are above 37k again and went %6+ high in a single day. This is mainly because we are in the bull run period and we should be quite happy with what we have, there is nothing wrong with bitcoin at the moment, and it will keep on going strong.

goaldigger

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Quote from: Aanuoluwatofunmi on November 15, 2023, 11:21:08 AM

Some were already saying various reasons that comes behind the bear that led us to $35,000 when we are still anticipating for more bull market althrough this season, but things cannot work sometimes we way we expect because bitcoin itself has to be volatile before we can have the beauty in the market buying and selling, we are expecting to see more of bull althrough out this year and very soon the market price of $40,000 will reset it history, but before then, there might be pump and dumps as just from the way we are currently having now.

Many will take profit early and that could stop the up trend for a short time but of course we are still bullish with the price and we are now back to $37k mark, the price of $40k is within the reach, we will see that before the year end for sure. The volatility is normal with Bitcoin, so know how to deal with it and always have your strategy. The bullish trend is still strong, and this is a better year and a better trend compare last year, expect a good price before the year end.

fullhdpixel

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Quote from: Fundamentals Of on November 11, 2023, 10:13:48 PM

Were they anticipating it or were they all surprised how those previous weeks turned out? I wonder if anybody actually anticipated that Bitcoin would leap more than $10,000 in just a month's time. That probably caught a lot by surprise. That wasn't normal. Despite Bitcoin's volatility, nobody would have anticipated that it would grow that much in so short a time. That notwithstanding the fact that an approval of a Bitcoin spot ETF by the SEC is not yet announced.

Most of us were probably surprised by that quick upward movement, to be honest. I wasn't expecting the price of Bitcoin to even touch $35k within these two months that are remaining from this year, and I thought we might see the price moving towards that area after the new year starts and we will see a price surge just like we saw in January 2023. So, it was more surprising for most retail investors and speculators and we are way ahead of our expectations.

However, the current situation seems like it may or may not touch $40k within this year because as said by everyone, $38k seems to be the latest resistance and Bitcoin hasn't been able to cross it so far after one attempt, if we see the same for a couple of more times then we will probably see a decline from there.

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Quote from: davis196 on November 15, 2023, 07:55:25 AM

Frankly speaking, I couldn't care less about MA-20 or MA-50. I think that the price will start doing down back to 30K USD.
I don't understand the growing optimism about the Bitcoin Spot ETF approval. I'm usually pessimistic, when there's too much optimism on the markets. I have the feeling that the Bitcoin ETF won't be approved and this will cause a price crash back to 20-25K USD.
In 2024, there will be a short term recession, which will cause price drops across all financial markets. I don't believe that Bitcoin will turn into a legit safe heaven asset. I'm still optimistic about 2025, though.

I do not have that much hope for the btc ETF neither, but I do have hope for btc itself, even without the ETF, the price will go up for sure. Think about, actual good things happened in the bitcoin world during the bear period and the price still didn't go up, and right now during the most useless period, when nothing happened, it peaked over 37k as the highest amount.

I am sorry, but if we are talking about what is good and what is not, it's clear that we are talking about something much larger there, it's clear that we are not going to end up with anything more major. It's obvious that we should be doing something that would be a bit harder to handle, and in order for that to change, we need to make sure that people realize these "dips" are not long term. We are going up, and we do not need any reason to go up, we are going up with whatever the reason we want and that is the sign of a great bull run coming our way and we should be happy about it.

Aanuoluwatofunmi

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Some were already saying various reasons that comes behind the bear that led us to $35,000 when we are still anticipating for more bull market althrough this season, but things cannot work sometimes we way we expect because bitcoin itself has to be volatile before we can have the beauty in the market buying and selling, we are expecting to see more of bull althrough out this year and very soon the market price of $40,000 will reset it history, but before then, there might be pump and dumps as just from the way we are currently having now.

SmartGold01

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Quote from: philipma1957 on November 12, 2023, 09:56:21 PM

I have been saying 42k by nov 30 - dec 1. and 48k by dec 31 - jan 1
some jan profit taking down to 40k and a slow up tick grind toward the ½ ing in late march early april

There is no doubt about the what you speculated concerning the price, was actually thinking could see $50k before 31 Dec and expect the unexpected beginning from March to June next year.
Though my expected price for the halving is not above $90k to $100k, so whomever that must be involved of the rally still have some chances to buy since the current price is good entry point to acquire some reasonable values of bitcoin.

boltz

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Quote from: Hypnosis00 on November 15, 2023, 08:34:54 AM

The current pump is quite satisfying to see compared to the previous months where it was just stuck below $30k but it was not yet convincing enough to say and think that we are in a bullish state already. Maybe my set of price targets to say that the market is bullish when it reaches $50k but also because it was normally we saw bullish after halving. Maybe I was wrong but we won't be confident enough that there is no dump happen in the coming as surely it comes. However, it was not like in the previous correction that it fell badly.

So far the current rise in price looks healthy and charts are healthy as well but I have once concern because we couldn't break the 38k$ resistance and right now , the consolidation on that price is kinda huge and not so easy to break. Besides this , the 40k$ range looks unbreakable right now but I'm sure that if we go over 38k , huge resistance walls will go away automatically in order to prepare Bitcoin for the big pump that is to come for next year. Until then , we can only observe what Bitcoin wants to do for the rest of the year.

Hypnosis00

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The current pump is quite satisfying to see compared to the previous months where it was just stuck below $30k but it was not yet convincing enough to say and think that we are in a bullish state already. Maybe my set of price targets to say that the market is bullish when it reaches $50k but also because it was normally we saw bullish after halving. Maybe I was wrong but we won't be confident enough that there is no dump happen in the coming as surely it comes. However, it was not like in the previous correction that it fell badly.

davis196

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Quote from: Kensure on November 11, 2023, 03:18:24 PM

Last week was highly anticipated for Bitcoin (BTC) enthusiasts, as it saw the price surge above levels not seen in over a year. Taking a look at the moving averages, the MA-20 (in red) has shown significant strength compared to the MA-50 (in orange) and has managed to avoid any negative trends this month. This suggests a positive sentiment for the world's largest digital asset.
On the technical front, the RSI (Relative Strength Index) is poised for a potential move into the overbought territory. This might lead to profit-taking as BTC could reach new yearly highs once again.

This bullish momentum, breaking through the $35,000 mark, is largely attributed to the growing optimism surrounding the potential approval of a Bitcoin Spot ETF by the SEC.

Overall, the next targets for BTC can be placed at $36,000 and $38,000, respectively. In case of profit booking momentum, support levels can be placed at $33,000 and $30,000, respectively.

Frankly speaking, I couldn't care less about MA-20 or MA-50. I think that the price will start doing down back to 30K USD.
I don't understand the growing optimism about the Bitcoin Spot ETF approval. I'm usually pessimistic, when there's too much optimism on the markets. I have the feeling that the Bitcoin ETF won't be approved and this will cause a price crash back to 20-25K USD.
In 2024, there will be a short term recession, which will cause price drops across all financial markets. I don't believe that Bitcoin will turn into a legit safe heaven asset. I'm still optimistic about 2025, though.

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Quote from: Gozie51 on November 13, 2023, 01:16:52 PM

Quote from: michellee on November 13, 2023, 12:36:35 PM

It's better for us to enjoy the current Bitcoin price movement and remember to keep accumulating more Bitcoin. That is if you still want to use this time to collect Bitcoins. But if you feel you have had enough, you just have to wait for the time to sell Bitcoin and take the profits.

It can only be enough to accumulate bitcoin if you don't have money to buy more but for those who have money, it is time to keep DCA on because the bull this season is really expected to either hit the 6 digit area.

However, I won't advise taking loan to invest in btc If you don't have enough just invest as little as you can ride with the bull next year.

The DCA method will still be recommended for those who have money, especially now, which is still a good time to do it. But wait after the correction comes to start investing.

We have to be patient because after the halving moment, there will likely be a movement that will provide an opportunity for Bitcoin to increase. And if that happens, yes, we expect Bitcoin to reach the 6-digit area.

It's better to use a little money but regularly buy Bitcoin than to take out a loan. We don't know when Bitcoin will rise but we have to pay the loan every month. If we don't have enough income to pay the loan, it will clearly be a burden on us.

Winterfrost

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Quote from: Kensure on November 11, 2023, 03:18:24 PM

Overall, the next targets for BTC can be placed at $36,000 and $38,000, respectively. In case of profit booking momentum, support levels can be placed at $33,000 and $30,000, respectively.

I expect the price of Bitcoin to go higher than that. However, the support levels are for those who are into Bitcoin for short term gains and for those who have been holding for long, it depends on your income and how long you’ve been holding before you chose to sell.

Quote from: yhiaali3 on November 13, 2023, 07:42:51 AM

But I disagree with your point that the reason for this bullish momentum is “increased optimism surrounding the potential approval of the Bitcoin Spot ETF by the SEC.” We have already noted in previous posts that the impact of the approval has diminished very much and is unlikely to be the reason of Bitcoin's current rise.

What an interesting comment. I believe it is a false assumption that a spot ETF will immediately raise the demand for Bitcoin and contribute to the potential rise of the price of Bitcoin which is leading to the Bullish moment we see now. Since 2017 all the bitcoin spot ETFs have been delayed and rejected I dont know why this current one seems differently and many persons are certain that it will be accepted. I hope to see the outcome on the last day.

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Quote from: Gozie51 on November 13, 2023, 01:16:52 PM

Quote from: michellee on November 13, 2023, 12:36:35 PM

It's better for us to enjoy the current Bitcoin price movement and remember to keep accumulating more Bitcoin. That is if you still want to use this time to collect Bitcoins. But if you feel you have had enough, you just have to wait for the time to sell Bitcoin and take the profits.

It can only be enough to accumulate bitcoin if you don't have money to buy more but for those who have money, it is time to keep DCA on because the bull this season is really expected to either hit the 6 digit area.

However, I won't advise taking loan to invest in btc If you don't have enough just invest as little as you can ride with the bull next year.

Buying near the current cycle peak is not a good idea even on DCA, much better to wait for a minor correction after the big green candle before adding more coins to your stash. This way you can guarantee more average price to the lowest possible buying price amount.

Margin is available in exchange which is more suitable to use than borrow money with high interest. Margin on the forum gives you the ability to increase your capital by just adding minimal risk depending on the amount you are borrowing.

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Quote from: michellee on November 13, 2023, 12:36:35 PM

It's better for us to enjoy the current Bitcoin price movement and remember to keep accumulating more Bitcoin. That is if you still want to use this time to collect Bitcoins. But if you feel you have had enough, you just have to wait for the time to sell Bitcoin and take the profits.

It can only be enough to accumulate bitcoin if you don't have money to buy more but for those who have money, it is time to keep DCA on because the bull this season is really expected to either hit the 6 digit area.

However, I won't advise taking loan to invest in btc If you don't have enough just invest as little as you can ride with the bull next year.

michellee

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We will see later. Meanwhile, Bitcoin's highest price is currently still at $37k, even almost touching $38k. The next Bitcoin price target could be at the $ 40k- $ 45k level, as Bitcoin is almost touching $38k. Sooner or later, a Bitcoin Spot ETF will be approved. It's just a matter of time.

We don't need to wait because it seems that demand for Bitcoin Spot ETFs will get stronger. And it seems the SEC can't delay its approval any longer either. And if that can happen in December this year, Bitcoin could easily reach above $40k. It will probably exceed $45k.

It's better for us to enjoy the current Bitcoin price movement and remember to keep accumulating more Bitcoin. That is if you still want to use this time to collect Bitcoins. But if you feel you have had enough, you just have to wait for the time to sell Bitcoin and take the profits.

yhiaali3

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I agree with you on the possible scenario for Bitcoin in the near term, as the next target is expected to be at 38K$ and due to the potential earnings momentum, we may see it rebound to the support levels of 33K$ and below.

But I disagree with your point that the reason for this bullish momentum is “increased optimism surrounding the potential approval of the Bitcoin Spot ETF by the SEC.” We have already noted in previous posts that the impact of the approval has diminished very much and is unlikely to be the reason of Bitcoin's current rise.

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Quote from: philipma1957 on November 12, 2023, 09:56:21 PM

Quote from: Fundamentals Of on November 11, 2023, 10:13:48 PM

Were they anticipating it or were they all surprised how those previous weeks turned out? I wonder if anybody actually anticipated that Bitcoin would leap more than $10,000 in just a month's time. That probably caught a lot by surprise. That wasn't normal. Despite Bitcoin's volatility, nobody would have anticipated that it would grow that much in so short a time. That notwithstanding the fact that an approval of a Bitcoin spot ETF by the SEC is not yet announced.

I have been saying 42k by nov 30 - dec 1. and 48k by dec 31 - jan 1

some jan profit taking down to 40k and a slow up tick grind toward the ½ ing in late march early april

If we look at the previous trends the bull run should start now itself because most of the time second half of December is the time when we see Bitcoin's downtrend and it was the 10th November 2021 when Bitcoin reached it's ATH and we ended the December around $48k and further during dropped further $12k before the end of January 2022, basically October and November are the months when we an yield profits and Bitcoin can further surge but December has been dull month and we witnessed drop even during December 2022.

I think we need to be very cautious in the month of December to avoid losing money in FOMO. As you have mentioned we can expect upward trend during March/April due to halving.

philipma1957

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Quote from: Fundamentals Of on November 11, 2023, 10:13:48 PM

Were they anticipating it or were they all surprised how those previous weeks turned out? I wonder if anybody actually anticipated that Bitcoin would leap more than $10,000 in just a month's time. That probably caught a lot by surprise. That wasn't normal. Despite Bitcoin's volatility, nobody would have anticipated that it would grow that much in so short a time. That notwithstanding the fact that an approval of a Bitcoin spot ETF by the SEC is not yet announced.

I have been saying 42k by nov 30 - dec 1. and 48k by dec 31 - jan 1

some jan profit taking down to 40k and a slow up tick grind toward the ½ ing in late march early april

Fundamentals Of

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Quote from: pinggoki on November 11, 2023, 11:51:14 PM

Quote from: Fundamentals Of on November 11, 2023, 11:33:04 PM

Quote from: pinggoki on November 11, 2023, 11:09:47 PM

~

Personally, that's anticipation for me. I'd bet my money on it. As I've said, Bitcoin will hit $100,000 in 2024 or 2025. Don't compare the previous halving. When the halving took place in May of 2020, the price of Bitcoin was just around $8,000. More than a year later, it reached almost $70,000. Now the halving in 2024 is different because Bitcoin is already at a high point, perhaps more than $40,000. That's the starting point. So when the effect of the halving starts to reflect on the price, it would only need to double and a little more to hit $100,000.

How much would that money be? depending on your answer I might be willing to bet on that if I can afford to bet the amount but given how you put the perspective on the growth of bitcoin I just hesitated on that bet while I'm typing my reply to you. I do wish though that you're anticipation is right and that bitcoin will reach 100k because I'm definitely going to be getting a big profit because I bought a considerable amount of sats at a 20k USD price. My only wish is that when it hits that 100k, it's not going to the new all-time high.

Oh I like this. How much are you willing to bet? I hope it's not too small that it will just be eaten up by transaction fees. Also we will be putting our bet money into escrow, that also requires a fee. But I'm not also thinking of a really big amount because I don't have much and also the time frame of this bet is rather long. But I'm willing to bet on this because I'm bullish on Bitcoin and I'm almost sure that the price would hit $100,000 in 2024 or 2025.

Topic: This bullish momentum - Breaking through the $35,000 mark - page 2. (Read 387 times)