Here is a basic list of price action you want to see in a positive or negative market. It doesnt have to be true but mostly I trust a regular gain over spikes either up or down. We can reverse still but this last 24hr says its going to drag a bit.
Topic: Why there is so much resistance at $23k price - page 5. (Read 1230 times)
The behaviour is more important then just one off tick box events but yea generally we need to regain the 50 day average. Its not too much of a shock we didnt make it upwards but all the same its some disappointment to fail once again, 30k wasnt a big ask really.
Here is a basic list of price action you want to see in a positive or negative market. It doesnt have to be true but mostly I trust a regular gain over spikes either up or down. We can reverse still but this last 24hr says its going to drag a bit.
Here is a basic list of price action you want to see in a positive or negative market. It doesnt have to be true but mostly I trust a regular gain over spikes either up or down. We can reverse still but this last 24hr says its going to drag a bit.
I see the current dip as a temporary setback for Bitcoin price and if fed members are blamed for the present price conditions that are dragging the price down to 20k then a lot should be expected in the coming days and weeks ahead. Because the economic harhsness will last for a while and assets like Bitcoin will be the worst heated in this period.
^ Only bad news if we don't retain levels + volume, and test 20k (which looks to be the case right now) before Monday. But that's only bad news for the short term. It's been some legs up on recovery and was bound to have some profittaking, which is my feeling about this dip. I know Fed numbers have been blamed but I thought that had all been priced in anyway -- and Fed actually said we're likely to see hard rate hikes by end of year, so don't think that's what tipped the tumble.
^^ That's not a good news if we lost the 50 day moving average because it might mean that we might see further downturn?
Anyhow, what seems to be the commotion right now that the price suddenly dip in the last 48 hours? People just selling off or if there some negative news around that affected them again? I thought that we are all positive this month of August, so now we are looking to close the month in another red? But in any case, time to fill the bags again, I guess.
Anyhow, what seems to be the commotion right now that the price suddenly dip in the last 48 hours? People just selling off or if there some negative news around that affected them again? I thought that we are all positive this month of August, so now we are looking to close the month in another red? But in any case, time to fill the bags again, I guess.
Well we broke 23k and it was indeed proper owchie time there after. So write down 23k as a proper level to note on the way up or in the this case the failure and way down, we took a tumble today.
Anyhow here we lie on a level we hope to keep and arrest this fall. 23% of the peak to trough June pricing which is likely fair guide as there was higher volume then.
Also we lose the 50 day average which is still rising but need to regain that again, 22k or high would be good to see in any recovery really without regaining this I expect further negative movement.
Anyhow here we lie on a level we hope to keep and arrest this fall. 23% of the peak to trough June pricing which is likely fair guide as there was higher volume then.
Also we lose the 50 day average which is still rising but need to regain that again, 22k or high would be good to see in any recovery really without regaining this I expect further negative movement.
I think that the resistance at $23k is a weak resistance, its not that strong, as compared to the resistance at $25k. We all can see the sharp rejection after it had reached $25k. It will break those resistance soon its just a matter of time. But I'm having a feeling that bitcoin might test 21k again the upward movement is not yet confirmed totally, but I believe that the bear season will soon be over
Then you can't call it resistance as all if it can withstand that price, but I do agree that $25,000 is the real resistance because we have been rejected many times upon reaching this price. And as we can see in the last month, we moved from $20,000-$25,000 and that has been our price action.
Quickly glancing at the price, we are still in the $23,500 range, so not sure if we will retest $21,000 again. I mean the support at $22,000-is very weak. Unless some negative news again affecting investors mindset and sold short term.
btw, the $23k resistance is not a real resistance in my definition. How long BTC has been over this resistance price? Since 10/08/2022? Just for 10 days. And you think it was a resistance price? Any time it comes close to but turns back with a strong push? See how it shouldn't be considered as a resistance price and why it was broken?
I think that the resistance at $23k is a weak resistance, its not that strong, as compared to the resistance at $25k. We all can see the sharp rejection after it had reached $25k. It will break those resistance soon its just a matter of time. But I'm having a feeling that bitcoin might test 21k again the upward movement is not yet confirmed totally, but I believe that the bear season will soon be over
Then you can't call it resistance as all if it can withstand that price, but I do agree that $25,000 is the real resistance because we have been rejected many times upon reaching this price. And as we can see in the last month, we moved from $20,000-$25,000 and that has been our price action.
Quickly glancing at the price, we are still in the $23,500 range, so not sure if we will retest $21,000 again. I mean the support at $22,000-is very weak. Unless some negative news again affecting investors mindset and sold short term.
I don’t think $23K has much resistance. If you pull up weekly chart you will see we briefly touched $25K resistance which was old support.
Right now the market won’t go much higher until ETH merge and MtGox coin distribution. Plus it’s still summer and low liquidity. We will chop around this area for the next few weeks. At least until CPI prints and fed rate decision.
Right now the market won’t go much higher until ETH merge and MtGox coin distribution. Plus it’s still summer and low liquidity. We will chop around this area for the next few weeks. At least until CPI prints and fed rate decision.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend, there have been a lot of speculations surrounding the present market situation. But with the right thought and analysis, I am sure if Bitcoin could break the present resistance price moving upward would be that hard anymore.
It isn't the right thought and analysis that fuel the Bitcoin rally. It is the participation of the institution, FOMO-ing of traders and news affect the movement of Bitcoin. So if hype and FOMO is present, I bet that $23k will get eatin easily. Bitcoin had done that for several times now.
There are so many factors surrounding the btc price. And it is the combination of those that you mentioned. Up until now, we can't pinpoint which contributors largely influence the market price. But we are always hoping that it will go up and break a certain level. But before that happens, we should be ready so as not to regret once the price starts climbing up.
https://coinmarketcap.com/currencies/bitcoin/
Bitcoin is now in deliberation , and maybe there will be another dumping coming soon as the movements showing now.
I think that the resistance at $23k is a weak resistance, its not that strong, as compared to the resistance at $25k. We all can see the sharp rejection after it had reached $25k. It will break those resistance soon its just a matter of time. But I'm having a feeling that bitcoin might test 21k again the upward movement is not yet confirmed totally, but I believe that the bear season will soon be over
I think retesting of $21k isn't a big deal for this season because the price is still playing around the reach as no precise direction has been confirmed for now as to that the price can drop down or up to meet the correction before riding any direction. I think IMO that the market is not ready for a major move, it is going to be within this reach for sometime.
I may not sure how short to come but what I believe is that this will come soon.
You may be right. After a long period of bear market, the bull market has started, so the market has started to improve again. But one thing must always be believed the market is always the same.
#bitcoin MM 0.73
Image source
but the graphs you shared is best to check and rely since the movement of Bitcoin is making clear and great this coming weeks.
I think that the resistance at $23k is a weak resistance, its not that strong, as compared to the resistance at $25k. We all can see the sharp rejection after it had reached $25k. It will break those resistance soon its just a matter of time. But I'm having a feeling that bitcoin might test 21k again the upward movement is not yet confirmed totally, but I believe that the bear season will soon be over
I think retesting of $21k isn't a big deal for this season because the price is still playing around the reach as no precise direction has been confirmed for now as to that the price can drop down or up to meet the correction before riding any direction. I think IMO that the market is not ready for a major move, it is going to be within this reach for sometime.
This also happens when bitcoin is at $20k bitcoin goes sideways around $20k for a while and then moves slowly towards $23k. This action may seem slow, but it indicates that the market is slightly bullish rather than bearish, although a retest of the $21k-20k zone is possible at any time. As long as bitcoin doesn't go back to test $20k again and move sideways around $23k that's a good sign.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend,
Resistance is a normal thing, you can't expect bitcoin to go back up without a real fight. The resistance cannot remain forever, the current resistance should be seen as a test of patience and wits to see those who will not chose to sell their bitcoin during this time. The struggle is to be one of those that will hold on to their bitcoins.It's normal to see a market where it keeps pulling down since we are in a bearish market since during the bull run we didn't see Bitcoin price continue fighting with the resistance it was pumping during that time. Plus the demand and supply will make the price go pump so basically those fundamentals are gonna needed in order to see where Bitcoin price is going.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend, there have been a lot of speculations surrounding the present market situation. But with the right thought and analysis, I am sure if Bitcoin could break the present resistance price moving upward would be that hard anymore.
It isn't the right thought and analysis that fuel the Bitcoin rally. It is the participation of the institution, FOMO-ing of traders and news affect the movement of Bitcoin. So if hype and FOMO is present, I bet that $23k will get eatin easily. Bitcoin had done that for several times now.
There are so many factors surrounding the btc price. And it is the combination of those that you mentioned. Up until now, we can't pinpoint which contributors largely influence the market price. But we are always hoping that it will go up and break a certain level. But before that happens, we should be ready so as not to regret once the price starts climbing up.
and whenever it do hit up some resistances then this is where its been rejected and would really be going back into its original position which we really failed on breaking that ceiling.
We do need more positive sentiment and news or fundamentals for the price do able to break up with these levels.Rather than making yourself get stressed with these
movements then it would be wise if you do ensure your position so that you would able to utilize these price so that you could make profits later on.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend, there have been a lot of speculations surrounding the present market situation. But with the right thought and analysis, I am sure if Bitcoin could break the present resistance price moving upward would be that hard anymore.
It isn't the right thought and analysis that fuel the Bitcoin rally. It is the participation of the institution, FOMO-ing of traders and news affect the movement of Bitcoin. So if hype and FOMO is present, I bet that $23k will get eatin easily. Bitcoin had done that for several times now.
There are so many factors surrounding the btc price. And it is the combination of those that you mentioned. Up until now, we can't pinpoint which contributors largely influence the market price. But we are always hoping that it will go up and break a certain level. But before that happens, we should be ready so as not to regret once the price starts climbing up.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend, there have been a lot of speculations surrounding the present market situation. But with the right thought and analysis, I am sure if Bitcoin could break the present resistance price moving upward would be that hard anymore.
It isn't the right thought and analysis that fuel the Bitcoin rally. It is the participation of the institution, FOMO-ing of traders and news affect the movement of Bitcoin. So if hype and FOMO is present, I bet that $23k will get eatin easily. Bitcoin had done that for several times now.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend, there have been a lot of speculations surrounding the present market situation. But with the right thought and analysis, I am sure if Bitcoin could break the present resistance price moving upward would be that hard anymore.
this is a situation where the market still doesn't have enough strength to break through strong resistance, we know that $25k is the strongest resistance because if it breaks then $32k will probably be reached,
and if it can hold on then we will enter a new season, which is bullish season,
that's why resistance at $25k is very hard to break.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend, there have been a lot of speculations surrounding the present market situation. But with the right thought and analysis, I am sure if Bitcoin could break the present resistance price moving upward would be that hard anymore.
this is a situation where the market still doesn't have enough strength to break through strong resistance, we know that $25k is the strongest resistance because if it breaks then $32k will probably be reached,
and if it can hold on then we will enter a new season, which is bullish season,
that's why resistance at $25k is very hard to break.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend, there have been a lot of speculations surrounding the present market situation. But with the right thought and analysis, I am sure if Bitcoin could break the present resistance price moving upward would be that hard anymore.
this is a situation where the market still doesn't have enough strength to break through strong resistance, we know that $25k is the strongest resistance because if it breaks then $32k will probably be reached,
and if it can hold on then we will enter a new season, which is bullish season,
that's why resistance at $25k is very hard to break.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend,
Resistance is a normal thing, you can't expect bitcoin to go back up without a real fight. The resistance cannot remain forever, the current resistance should be seen as a test of patience and wits to see those who will not chose to sell their bitcoin during this time. The struggle is to be one of those that will hold on to their bitcoins. I think that the resistance at $23k is a weak resistance, its not that strong, as compared to the resistance at $25k. We all can see the sharp rejection after it had reached $25k. It will break those resistance soon its just a matter of time. But I'm having a feeling that bitcoin might test 21k again the upward movement is not yet confirmed totally, but I believe that the bear season will soon be over
I think retesting of $21k isn't a big deal for this season because the price is still playing around the reach as no precise direction has been confirmed for now as to that the price can drop down or up to meet the correction before riding any direction. I think IMO that the market is not ready for a major move, it is going to be within this reach for sometime.
I may not sure how short to come but what I believe is that this will come soon.
You may be right. After a long period of bear market, the bull market has started, so the market has started to improve again. But one thing must always be believed the market is always the same.
#bitcoin MM 0.73
Image source
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