What do you think of the current bitcoin price recovery? - page 5.

JeffBrad12

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Quote from: TravelMug on August 09, 2024, 12:17:59 AM

Quote from: JeffBrad12 on August 08, 2024, 10:20:49 PM

It's crazy recovery as usual, going back from $52k to $63k is already a feat in my book since the current ongoing circumstance and geopolitical of the world is quite usntable.
I think it can follow trajectory like when covid-19 happened, basically big bullrun after dump, but i'm still contemplating to long again, since i already taken my profit around $62k basically right now.

still waiting to see whether BTC could hold the resistance around $60k -$61k if it somehow bounces off I guess I will long.

I'm not good at TA, but with how strong we bounce back from as long as $50k to suddenly $61k right now, I think it will hold. The biggest barrier for us is $60k or at least those round numbers. But then we already got passed that price as we are in the $61k-$62k range.

And yeah, I know it's crazy how fast we recovered when everyone says that in the next 2 months we will be on a bearish trend. With that, just shows how resilience this market is, but I'm not surprised though as we are trading around the world and so there are a lot of entities inside, whether big whales or institutions or average joe like us that can move the price. So let's see, hopefully in this recovery, we might see seeing $65k or higher at the end of the month.

above the $60k level BTC has retested support around $60k and always successfully bounced back to above $60k level again but a support that keep getting retested eventually will become weaker, hoping that BTC could breakthrough $63k level here because if it does that, then BTC might get back up to $70k again, but it's just my short analysis toward the market.

hopefully the market of BTC will keep strong despite all the ongoing geopolitical conflicts.

Odusko

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Quote from: GreatArkansas on August 08, 2024, 08:21:31 PM

This is just a sign that Bitcoin is still going strong and the $60,000 level is the significant support.
Look what happened last month, almost the same days when the recent dump happened. It also dropped below $60,000, after that, the price recovered.

Overall, this is very good news for all of the bulls, we are building strong support around $60,000 level over time.

Yes this is a big relief for many long term Bitcoin holder's because it not easy seeing your investment losing a huge percentage of it value in a fast and furious ways just like the last Bitcoin price dump, it spiked alot of negative feelings in many of us, to the point that we began to bear our loses and ready for the winter, but then the last 48 hour's have brought in a lot of reliefs for us and we are hopeful that the coming days will be filled with more positive price movement that will change a lot of things.
We are heading to above 70k anytime soon and for sure we may likely see some more slide drop in the price of Bitcoin, although that will not last long just like this current dip that never took Bitcoin long before recovering as a prove of Bitcoin ability to continue strong in the face of whatever market realities.

TravelMug

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Quote from: JeffBrad12 on August 08, 2024, 10:20:49 PM

It's crazy recovery as usual, going back from $52k to $63k is already a feat in my book since the current ongoing circumstance and geopolitical of the world is quite usntable.
I think it can follow trajectory like when covid-19 happened, basically big bullrun after dump, but i'm still contemplating to long again, since i already taken my profit around $62k basically right now.

still waiting to see whether BTC could hold the resistance around $60k -$61k if it somehow bounces off I guess I will long.

I'm not good at TA, but with how strong we bounce back from as long as $50k to suddenly $61k right now, I think it will hold. The biggest barrier for us is $60k or at least those round numbers. But then we already got passed that price as we are in the $61k-$62k range.

And yeah, I know it's crazy how fast we recovered when everyone says that in the next 2 months we will be on a bearish trend. With that, just shows how resilience this market is, but I'm not surprised though as we are trading around the world and so there are a lot of entities inside, whether big whales or institutions or average joe like us that can move the price. So let's see, hopefully in this recovery, we might see seeing $65k or higher at the end of the month.

ajiz138

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Who bought bitcoin at $50K on the way down yesterday he bought at a huge discount and now bitcoin is back in the $60K+ area.

Price expectations of course we want bitcoin to be at $70K in August but we never know if there will be another decline in the short term ahead, the kayak is still prone to negative sentiment so it does not rule out the possibility of bitcoin prices falling below $60K again.

My guess in August - bitcoin will not pass $70K it will be sideways maybe in the next month there will be a surprise increase again because approaching the election could be the price back up.

JeffBrad12

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It's crazy recovery as usual, going back from $52k to $63k is already a feat in my book since the current ongoing circumstance and geopolitical of the world is quite usntable.
I think it can follow trajectory like when covid-19 happened, basically big bullrun after dump, but i'm still contemplating to long again, since i already taken my profit around $62k basically right now.

still waiting to see whether BTC could hold the resistance around $60k -$61k if it somehow bounces off I guess I will long.

Churchillvv

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If there is one thing we all are expecting is the price pump, during the temporary fall of the market we saw how people panicked all over the internet including the forum and now bitcoin is back pulling up with a great strength, I think those who already sold during the temporary fall must be at some point of regret or something.

This unpredictable movement in price is what makes bitcoin more special and valuable to man than every other currency. If we bitcoin fall it only stays on such trend for a fellow days and it returns and I love the method of price correction.

For the records, we can't predict the market but whatever will be the outcome will not be shocking to us anymore, we might see $70kish price during the week end but yet sil unpredictable.

Ryu_Ar1

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Quote from: Odusko on August 08, 2024, 06:44:23 PM

which is above what many speculators predicted for bitcoin in this week and the trend is still continuing.
The Question now is:
What is you bitcoin market price expectations for this month of August most especially in the first half of the month of August?
Do you think that we will see a $70k BTC price or we likely going to see a decline in the price in the short term basis?

With the volatile nature of bitcoin, it is possible that we will return to that price. We know bitcoin was previously at $65 immediately plunged to $52k quickly and it is not impossible for them to return to the previous price quickly too.

We just have to wait and enjoy what happens with bitcoin in the end because after all the increase and decrease in the meantime is a natural thing so the most important thing for now we just have to focus on what our original purpose is in bitcoin for.
It's just that this is a little missed by some people who in the end precisely with the temporary decline that occurs makes them panic even though if we focus on the goals we want to achieve we should understand that it is clearly not very useful because excessive panic will only make us look for stupid actions because we cannot think carefully.

GreatArkansas

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This is just a sign that Bitcoin is still going strong and the $60,000 level is the significant support.
Look what happened last month, almost the same days when the recent dump happened. It also dropped below $60,000, after that, the price recovered.

Overall, this is very good news for all of the bulls, we are building strong support around $60,000 level over time.

EL MOHA

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Quote from: Odusko on August 08, 2024, 06:44:23 PM

The Question now is:
What is you bitcoin market price expectations for this month of August most especially in the first half of the month of August?
Do you think that we will see a $70k BTC price or we likely going to see a decline in the price in the short term basis?

One thing people need to know about bitcoin and it is that after every big correction there is going to be a push up and many experienced investors take advantage of this period and then they stack more bitcoin. Todays raise clearly shows that bitcoin does bends to just FUDs like that as it is very strong to hold against the negatives. Now my prediction is as long as the economic situation that pushed it back are still looming or lurking the $70k region isn’t where I see it heading for now. We might have find it ranging or consolidating in the $65k region. The trading volume also signifies that sellers aren’t done yet so I will take precautions of that too and rather say maybe at the last few days of august we could see $70k but not now.

Quote from: STT on August 08, 2024, 07:49:57 PM

Way too rapid, I think its going to get the bends rising too fast. We'll have to return to the depths to repair the damage Tongue

Seriously it does seem to be lacking volume which would suggest a repeat later or at least a test of some of these levels before actually breaking out of these same patterns we've been repeating months.

I think you are talking about it coming to fill some for the fair value gaps it left behind or some inducements as some people called it, yes the Market most at time comes to grab liquidity from this area after a massive push up or dumps but some of this things do not happen suddenly some could come later later and not now though

STT

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Way too rapid, I think its going to get the bends rising too fast. We'll have to return to the depths to repair the damage Tongue

Seriously it does seem to be lacking volume which would suggest a repeat later or at least a test of some of these levels before actually breaking out of these same patterns we've been repeating months.

Last month in July we made a new low not seen since February and appeared to turn around to leave it behind, it seemed to not then matter but now we've just recently exceeded that low and traded below 50k. Are we to repeat and ignore that hole in the road, we wont be going back that way or does it needed repairing before progressing further in any journey of length.

All this up down movement equates to volatility which requires caution and some further thought on our direction. Ultimately I remain bullish but if it is volatile and it is and we're moving into autumn not long now then I consider this an omen, a warning to strap up for the ride.

Lida93

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For me there is nothing there to think in the sense that for we the old investors who have seen a lot of worse market pull backs than this, we knew bitcoin was going to recover except that I personally didn't had it in thought though it was going to be this fast. I thought maybe it was going to take a week or more but here we are.

For those hands that took the opportunity to buy massively in the price dip, you guys are the real MVbitcoiners. Cheers to an added profits!

BitMaxz

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BTC price road to $80k

We have the same prediction $69k is much more possible if the price continues and $70k if we see some manipulation or liquidation at around $69k.
I have a small amount of BTC holding when the price is at $52k it's already made a profit but I still keep holding until touching $69k I think after 2 or 3 days we might see the price at around $67k if there's no decline during these 2 days.

MacD also shows selling pressure is getting weak and now there's a change in the pattern but still, it's a symmetrical flag or a symmetrical expanding triangle look at the chart right now it's already inside the symmetrical flag and I see almost all crypto are in bullish 17% increased and I think we will see incoming huge demand coming from Asian countries.

The current price is now $62,630 and increasing.

Odusko

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Quote from: Nwada001 on August 08, 2024, 06:51:08 PM

If there is one thing that I have learnt about bitcoin and how the price moves, it is that there is nothing impossible for the price to perform again. If I were told that bitcoin would drop to below $57k after it saw $69k to $70k in the last week of July, I would have argued it very well. At least I didn't expect it to happen that fast.

With the way the market is bouncing back, $70k is also not impossible for it to achieve before the month of August runs out. After all, what it's trying to do is return to where it has already touched before, which is easier to achieve than trying to break a new ATH.

Having such understanding give you the true freedom that comes with bitcoin investment because no one believes that Bitcoin will make this level of recovery within this short period of time, some where around less than 40 hours ago Bitcoin was all bathed with red on the charts, and price was somewhere dip but right now, the story is a different one entirely a d this is commendable because Bitcoin have proven once again that he is the king of the market and that it price is unpredictable.
A lot of Bitcoin market analysis have gone ahead in the last few days with most of them pointing to the fact that the price crisis will continue to were we may touch around 45k or even 40k BTC price, but we are not at a level were none expected at that short period of time and that is exciting and hopefully we see more positive market movement.

Nwada001

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Quote from: Odusko on August 08, 2024, 06:44:23 PM

which is above what many speculators predicted for bitcoin in this week and the trend is still continuing.
The Question now is:
What is you bitcoin market price expectations for this month of August most especially in the first half of the month of August?
Do you think that we will see a $70k BTC price or we likely going to see a decline in the price in the short term basis?

If there is one thing that I have learnt about bitcoin and how the price moves, it is that there is nothing impossible for the price to perform again. If I were told that bitcoin would drop to below $57k after it saw $69k to $70k in the last week of July, I would have argued it very well. At least I didn't expect it to happen that fast.

With the way the market is bouncing back, $70k is also not impossible for it to achieve before the month of August runs out. After all, what it's trying to do is return to where it has already touched before, which is easier to achieve than trying to break a new ATH.

Odusko

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Alot have happened in the last two weeks and this have weaken alot of investors and twho may have not understood properly how the bitcoin market act at all time, and what have occurred in the market before now and how bitcoin managed to recover from such market dips, we saw that bitcoin dive down to around $52,000 in the last one week and that to me was a great opportunity to buy bitcoin at discounted prices for many who already understood the underlying condition with bitcoin and how possible it is for bitcoin to recover Also in the same diamention that it price drop also, current the price of bitcoin

which is above what many speculators predicted for bitcoin in this week and the trend is still continuing.
The Question now is:
What is you bitcoin market price expectations for this month of August most especially in the first half of the month of August?
Do you think that we will see a $70k BTC price or we likely going to see a decline in the price in the short term basis?

Topic: What do you think of the current bitcoin price recovery? - page 5. (Read 1112 times)