Will $25,000 give way this time? | Bitcointalksearch.org

fuguebtc

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Quote from: TravelMug on September 16, 2023, 06:00:59 AM

Quote from: jaberwock on September 15, 2023, 10:50:50 AM

Quote from: EarnOnVictor on September 14, 2023, 05:58:03 AM

I'm glad to see Bitcoin is playing by my analysis and will continue to play in line with it as more conditions unfold in its favour. I see the $25,000-$24,700 as the most viable support levels this season and it will take a daily close below this limit before a true bearish stance can be concluded on the coin.

Looking at the situation, the 25k is not really giving way, and we are still above that line, which means that we are doing fine. I agree that it does look like it is going to be hard to handle it, but we can still do it so we should be quite happy about it. I get that sometimes it is hard and have tough results but that doesn't mean that we are going to end up with a result that would be tough to handle, it would be quite difficult to make it work.

So, I do not think that 25k will give way, and we are going to end up going higher and higher, this is of course just my thought and maybe I could be wrong, there is no guarantee that it is going to be possible to make profit, I just believe that we can, but I could be wrong.

We are just above $25k right now, it's weekend anyways, so we might not see any actions for now, until the start of the week. So yeah, we are doing fine although we might still be threading a difficult line.

Which means that anytime, if there is some negative news, we might see $25k or maybe retested against a lower low for this case. Hopefully, it will not be the case as we just have like 3 months to go for this year and then at the start of 2024, everyone might be looking for the block halving already, the catalyst for the next bull run.

The gap between $25k and $26k is closer than the gap between $26k and $30k, so it would be quite subjective to say that bitcoin cannot fall below $25k again. The market is starting to have more positive changes in the past 2 days, however I do not consider this a positive signal because as we all know there is still much Fud in the market so expectations for bitcoin are not reduction is a mistake. But are price drops a bad thing, why are people afraid of bitcoin price drops? Isn't the falling price an opportunity for us to buy cheap?

TravelMug

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Quote from: jaberwock on September 15, 2023, 10:50:50 AM

Quote from: EarnOnVictor on September 14, 2023, 05:58:03 AM

I'm glad to see Bitcoin is playing by my analysis and will continue to play in line with it as more conditions unfold in its favour. I see the $25,000-$24,700 as the most viable support levels this season and it will take a daily close below this limit before a true bearish stance can be concluded on the coin.

Looking at the situation, the 25k is not really giving way, and we are still above that line, which means that we are doing fine. I agree that it does look like it is going to be hard to handle it, but we can still do it so we should be quite happy about it. I get that sometimes it is hard and have tough results but that doesn't mean that we are going to end up with a result that would be tough to handle, it would be quite difficult to make it work.

So, I do not think that 25k will give way, and we are going to end up going higher and higher, this is of course just my thought and maybe I could be wrong, there is no guarantee that it is going to be possible to make profit, I just believe that we can, but I could be wrong.

We are just above $25k right now, it's weekend anyways, so we might not see any actions for now, until the start of the week. So yeah, we are doing fine although we might still be threading a difficult line.

Which means that anytime, if there is some negative news, we might see $25k or maybe retested against a lower low for this case. Hopefully, it will not be the case as we just have like 3 months to go for this year and then at the start of 2024, everyone might be looking for the block halving already, the catalyst for the next bull run.

jaberwock

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Quote from: EarnOnVictor on September 14, 2023, 05:58:03 AM

I'm glad to see Bitcoin is playing by my analysis and will continue to play in line with it as more conditions unfold in its favour. I see the $25,000-$24,700 as the most viable support levels this season and it will take a daily close below this limit before a true bearish stance can be concluded on the coin.

Looking at the situation, the 25k is not really giving way, and we are still above that line, which means that we are doing fine. I agree that it does look like it is going to be hard to handle it, but we can still do it so we should be quite happy about it. I get that sometimes it is hard and have tough results but that doesn't mean that we are going to end up with a result that would be tough to handle, it would be quite difficult to make it work.

So, I do not think that 25k will give way, and we are going to end up going higher and higher, this is of course just my thought and maybe I could be wrong, there is no guarantee that it is going to be possible to make profit, I just believe that we can, but I could be wrong.

Doan9269

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Quote from: STT on September 13, 2023, 11:58:33 AM

Positive reactions to the lows, failure to sustain the negative move and a reflex reaction upwards. Seems 25k has held as per OP inquisition.

Because we have held such a negative stance ongoing, quite a few moving averages are nearby. I wont call them rungs on a ladder exactly they hold no weight to support us or resist either but its a fair marker of progress if we can pass these. So here blue is a weekly average roughly and yellow would be the monthly. More often watched is the 50 day average and ideally we want that positive trend and to stay above that measure to stay a proper recovery, moving from this negative bout of BTC price action .
The real target is something like 27.5k but thats bigger picture, this is a quick view and for once its too nice to deny we are doing ok.

You're right, one thing that has to be noticed about the market trend is that when we speculate, it may not be an immediately forcast we made, it may require some time interval to see them come through, bitcoin market is gaining more positive strength against the bear market by rising gradually and now that we have left the $25,000 market zone, this chart could show more possibilities to experience the pump in orice the more base on the indications seen from the weekly candles as expresser on the chart, we may be moving ahead like this gradually till we achieve more high beyond what an ordinary bear resistance could made anytime soon.

Davian144

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Quote from: romero121 on September 14, 2023, 06:36:35 PM

The market have bounced crossing $26500 which is really good. However the exact trend can't be predicted. Right now it is time to make good money out of trading. The market is moving within specific range, than moving forward high or turning downward. This can also be considered as price correction as the market push happens once after gaining good resistance. Expecting some major incident relative to bitcoin so to experience the $30k+ movement.

The price bounce you mentioned was very clearly visible in the market recently, but now the price of Bitcoin is back below that price ($26500). However, I still really believe that in the near future Bitcoin could return to the price of $27K or before entering next month because every day price fluctuations and bounces are starting to be seen frequently in the current Bitcoin market. And $30K is actually still very possible for Bitcoin to achieve again, but this is still often difficult to happen this month and even next month too.

DanWalker

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Quote from: Yaunfitda on September 15, 2023, 07:34:07 AM

Quote from: goaldigger on September 13, 2023, 04:12:31 PM

Quote from: Mate2237 on September 13, 2023, 03:26:57 PM

Quote from: Oasisman on September 13, 2023, 02:57:08 PM

Why? Is it a bad thing if bitcoin drops below $25k? Because it will be all possible for that to happen as we do not see any indications of something that could initiate bitcoin a good run for up to $40k.
I honestly don't expect bitcoin to recover that fast, especially now that there has no good news that triggers bitcoin for a positive run other than the halving which is still months away from today. I expect bitcoin will start to pump early next year as we draw closer to the halving. We might see a new ATH in the post halving period.

If bitcoin drop down below the present price, it will still favour people. Those who are buying, it is the best time to fill up their portfolios and it will be a risk period for short term investors. $25k line is stagnant for now though there are some days it climb to $26k. like yesterday it was $26,300 in the afternoon and in the evening time, it came down to $25k again. Before the $25k will permanently give way to $30+k it will be all those November of December. Bitcoin can not recover for now.

This could be the opportunity if you are playing long and know that the market will rise again.
If there’s a panic and the big holders will sell just to add for the drop, then we can expect a price lower than $25k and the worst price might be around $20k. Let’s still hope for the up trend before the year end, though the usual is not like this since many will sell their holdings just to enjoy the holidays, let’s see if we will have a different trend before the year end.

And even if the price goes a bit in the last 2 days or so, it is still a good buy options for us. It is just $26k and this is still a great opportunity to buy at they are still very cheap.

You are also right when you say that we should go long, that is the mentality that we should have. I'm just talking about experience though, I mean if we just accumulate in the bear market and then hold on it and wait till the bull run comes, then definitely, it's going to be rewarding and satisfying as we can see our profits like going 6x or even higher.

We are still in bear season so this is always a good time to buy and accumulate bitcoin. Even if bitcoin pump to $30k and if we only intend to take profits when bitcoin makes a new ATH during the bull season, then buy bitcoin while we have the chance. Don't wait for more drops to buy because there is no guarantee that bitcoin will definitely drop to $20k again.

One thing I've noticed is that most of us are long-term investors but we always pay too much attention to short-term volatility. What benefit does that bring? For me, the short term prediction is just for fun because I will always accumulate bitcoin whenever I have money, I am not too concerned about the price of 25k$ or 26k$.

Yaunfitda

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Quote from: goaldigger on September 13, 2023, 04:12:31 PM

Quote from: Mate2237 on September 13, 2023, 03:26:57 PM

Quote from: Oasisman on September 13, 2023, 02:57:08 PM

Why? Is it a bad thing if bitcoin drops below $25k? Because it will be all possible for that to happen as we do not see any indications of something that could initiate bitcoin a good run for up to $40k.
I honestly don't expect bitcoin to recover that fast, especially now that there has no good news that triggers bitcoin for a positive run other than the halving which is still months away from today. I expect bitcoin will start to pump early next year as we draw closer to the halving. We might see a new ATH in the post halving period.

If bitcoin drop down below the present price, it will still favour people. Those who are buying, it is the best time to fill up their portfolios and it will be a risk period for short term investors. $25k line is stagnant for now though there are some days it climb to $26k. like yesterday it was $26,300 in the afternoon and in the evening time, it came down to $25k again. Before the $25k will permanently give way to $30+k it will be all those November of December. Bitcoin can not recover for now.

This could be the opportunity if you are playing long and know that the market will rise again.
If there’s a panic and the big holders will sell just to add for the drop, then we can expect a price lower than $25k and the worst price might be around $20k. Let’s still hope for the up trend before the year end, though the usual is not like this since many will sell their holdings just to enjoy the holidays, let’s see if we will have a different trend before the year end.

And even if the price goes a bit in the last 2 days or so, it is still a good buy options for us. It is just $26k and this is still a great opportunity to buy at they are still very cheap.

You are also right when you say that we should go long, that is the mentality that we should have. I'm just talking about experience though, I mean if we just accumulate in the bear market and then hold on it and wait till the bull run comes, then definitely, it's going to be rewarding and satisfying as we can see our profits like going 6x or even higher.

romero121

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Quote from: EarnOnVictor on September 14, 2023, 05:58:03 AM

I'm glad to see Bitcoin is playing by my analysis and will continue to play in line with it as more conditions unfold in its favour. I see the $25,000-$24,700 as the most viable support levels this season and it will take a daily close below this limit before a true bearish stance can be concluded on the coin.

Quote from: armanda90 on September 13, 2023, 02:24:26 PM

Quote from: gunhell16 on September 13, 2023, 10:05:43 AM

Right now, the market is not doing very well when it comes to Bitcoin's value. Although the price has increased a little, it is still not enough to continue its rise right now, I see that it can still drop below 25885 this day, or else it can continue to go up to 27100 tomorrow.

But of course that still depends on what happens, because we know that when there is good news, whatever it is, the price value of Bitcoin will surely pump, and if there is negative news in crypto or Bitcoin, Bitcoin will obviously dump. The logic is also simple: when the value of the dollar drops, surely the price of Bitcoin will rise, and when the value of the dollar increases, Bitcoin will drop.

Current bitcoin price looks promising will up for tomorrow or few days later, Bitcoin have been raise above $26k after dropping to $25k yesterday and I don't think will get another crash depend bitcoin not any bad news publishing. I don't sure with Bitcoin price potential will raise to $27k tomorrow because need time and not easily with faster moving price after dropping few percent last day. Have been habit or common thing when Bitcoin on higher price have bad impact for fiat USDT will drop, but yesterday when Bitcoin in lower price have good side with USDT success reach up to higher price although only few points moving up. I hope in this year Bitcoin can move up to higher price and not going down again under $25k to make all holder keep promising with bitcoin close halving give moment to see above $40k.

@gunhell16, be aware that news is irrelevant at times in the market, especially when there is a strong/prevailing sentiment that is determined, that's what the market would obey. The news might want to cause a bit of a slow down, but it will not be long. Strong technical levels are not to be joked with, even the news effect might only hit it and bounce back.

@armanda90, Bitcoin outlook remains bearish, but I'm still hoping that there will still be a strong bullish reversal that will last long. Of course, the daily chart is creating some bullish pathways, nonetheless, this is short-term as there are many barriers at the upper levels. The good news is that a rebound occurred at the OP's levels, this might be a good reason for a reversal to be activated, but it's subject to further confirmations over time.

The market have bounced crossing $26500 which is really good. However the exact trend can't be predicted. Right now it is time to make good money out of trading. The market is moving within specific range, than moving forward high or turning downward. This can also be considered as price correction as the market push happens once after gaining good resistance. Expecting some major incident relative to bitcoin so to experience the $30k+ movement.

EarnOnVictor

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I'm glad to see Bitcoin is playing by my analysis and will continue to play in line with it as more conditions unfold in its favour. I see the $25,000-$24,700 as the most viable support levels this season and it will take a daily close below this limit before a true bearish stance can be concluded on the coin.

Quote from: armanda90 on September 13, 2023, 02:24:26 PM

Quote from: gunhell16 on September 13, 2023, 10:05:43 AM

Right now, the market is not doing very well when it comes to Bitcoin's value. Although the price has increased a little, it is still not enough to continue its rise right now, I see that it can still drop below 25885 this day, or else it can continue to go up to 27100 tomorrow.

But of course that still depends on what happens, because we know that when there is good news, whatever it is, the price value of Bitcoin will surely pump, and if there is negative news in crypto or Bitcoin, Bitcoin will obviously dump. The logic is also simple: when the value of the dollar drops, surely the price of Bitcoin will rise, and when the value of the dollar increases, Bitcoin will drop.

Current bitcoin price looks promising will up for tomorrow or few days later, Bitcoin have been raise above $26k after dropping to $25k yesterday and I don't think will get another crash depend bitcoin not any bad news publishing. I don't sure with Bitcoin price potential will raise to $27k tomorrow because need time and not easily with faster moving price after dropping few percent last day. Have been habit or common thing when Bitcoin on higher price have bad impact for fiat USDT will drop, but yesterday when Bitcoin in lower price have good side with USDT success reach up to higher price although only few points moving up. I hope in this year Bitcoin can move up to higher price and not going down again under $25k to make all holder keep promising with bitcoin close halving give moment to see above $40k.

@gunhell16, be aware that news is irrelevant at times in the market, especially when there is a strong/prevailing sentiment that is determined, that's what the market would obey. The news might want to cause a bit of a slow down, but it will not be long. Strong technical levels are not to be joked with, even the news effect might only hit it and bounce back.

@armanda90, Bitcoin outlook remains bearish, but I'm still hoping that there will still be a strong bullish reversal that will last long. Of course, the daily chart is creating some bullish pathways, nonetheless, this is short-term as there are many barriers at the upper levels. The good news is that a rebound occurred at the OP's levels, this might be a good reason for a reversal to be activated, but it's subject to further confirmations over time.

goaldigger

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Quote from: Mate2237 on September 13, 2023, 03:26:57 PM

Quote from: Oasisman on September 13, 2023, 02:57:08 PM

Why? Is it a bad thing if bitcoin drops below $25k? Because it will be all possible for that to happen as we do not see any indications of something that could initiate bitcoin a good run for up to $40k.
I honestly don't expect bitcoin to recover that fast, especially now that there has no good news that triggers bitcoin for a positive run other than the halving which is still months away from today. I expect bitcoin will start to pump early next year as we draw closer to the halving. We might see a new ATH in the post halving period.

If bitcoin drop down below the present price, it will still favour people. Those who are buying, it is the best time to fill up their portfolios and it will be a risk period for short term investors. $25k line is stagnant for now though there are some days it climb to $26k. like yesterday it was $26,300 in the afternoon and in the evening time, it came down to $25k again. Before the $25k will permanently give way to $30+k it will be all those November of December. Bitcoin can not recover for now.

This could be the opportunity if you are playing long and know that the market will rise again.
If there’s a panic and the big holders will sell just to add for the drop, then we can expect a price lower than $25k and the worst price might be around $20k. Let’s still hope for the up trend before the year end, though the usual is not like this since many will sell their holdings just to enjoy the holidays, let’s see if we will have a different trend before the year end.

Mate2237

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Quote from: Oasisman on September 13, 2023, 02:57:08 PM

Why? Is it a bad thing if bitcoin drops below $25k? Because it will be all possible for that to happen as we do not see any indications of something that could initiate bitcoin a good run for up to $40k.
I honestly don't expect bitcoin to recover that fast, especially now that there has no good news that triggers bitcoin for a positive run other than the halving which is still months away from today. I expect bitcoin will start to pump early next year as we draw closer to the halving. We might see a new ATH in the post halving period.

If bitcoin drop down below the present price, it will still favour people. Those who are buying, it is the best time to fill up their portfolios and it will be a risk period for short term investors. $25k line is stagnant for now though there are some days it climb to $26k. like yesterday it was $26,300 in the afternoon and in the evening time, it came down to $25k again. Before the $25k will permanently give way to $30+k it will be all those November of December. Bitcoin can not recover for now.

Oasisman

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Quote from: armanda90 on September 13, 2023, 02:24:26 PM

Quote from: gunhell16 on September 13, 2023, 10:05:43 AM

Right now, the market is not doing very well when it comes to Bitcoin's value. Although the price has increased a little, it is still not enough to continue its rise right now, I see that it can still drop below 25885 this day, or else it can continue to go up to 27100 tomorrow.

But of course that still depends on what happens, because we know that when there is good news, whatever it is, the price value of Bitcoin will surely pump, and if there is negative news in crypto or Bitcoin, Bitcoin will obviously dump. The logic is also simple: when the value of the dollar drops, surely the price of Bitcoin will rise, and when the value of the dollar increases, Bitcoin will drop.

Current bitcoin price looks promising will up for tomorrow or few days later, Bitcoin have been raise above $26k after dropping to $25k yesterday and I don't think will get another crash depend bitcoin not any bad news publishing. I don't sure with Bitcoin price potential will raise to $27k tomorrow because need time and not easily with faster moving price after dropping few percent last day. Have been habit or common thing when Bitcoin on higher price have bad impact for fiat USDT will drop, but yesterday when Bitcoin in lower price have good side with USDT success reach up to higher price although only few points moving up. I hope in this year Bitcoin can move up to higher price and not going down again under $25k to make all holder keep promising with bitcoin close halving give moment to see above $40k.

Why? Is it a bad thing if bitcoin drops below $25k? Because it will be all possible for that to happen as we do not see any indications of something that could initiate bitcoin a good run for up to $40k.
I honestly don't expect bitcoin to recover that fast, especially now that there has no good news that triggers bitcoin for a positive run other than the halving which is still months away from today. I expect bitcoin will start to pump early next year as we draw closer to the halving. We might see a new ATH in the post halving period.

armanda90

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Quote from: gunhell16 on September 13, 2023, 10:05:43 AM

Right now, the market is not doing very well when it comes to Bitcoin's value. Although the price has increased a little, it is still not enough to continue its rise right now, I see that it can still drop below 25885 this day, or else it can continue to go up to 27100 tomorrow.

But of course that still depends on what happens, because we know that when there is good news, whatever it is, the price value of Bitcoin will surely pump, and if there is negative news in crypto or Bitcoin, Bitcoin will obviously dump. The logic is also simple: when the value of the dollar drops, surely the price of Bitcoin will rise, and when the value of the dollar increases, Bitcoin will drop.

Current bitcoin price looks promising will up for tomorrow or few days later, Bitcoin have been raise above $26k after dropping to $25k yesterday and I don't think will get another crash depend bitcoin not any bad news publishing. I don't sure with Bitcoin price potential will raise to $27k tomorrow because need time and not easily with faster moving price after dropping few percent last day. Have been habit or common thing when Bitcoin on higher price have bad impact for fiat USDT will drop, but yesterday when Bitcoin in lower price have good side with USDT success reach up to higher price although only few points moving up. I hope in this year Bitcoin can move up to higher price and not going down again under $25k to make all holder keep promising with bitcoin close halving give moment to see above $40k.

STT

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Positive reactions to the lows, failure to sustain the negative move and a reflex reaction upwards. Seems 25k has held as per OP inquisition.

Because we have held such a negative stance ongoing, quite a few moving averages are nearby. I wont call them rungs on a ladder exactly they hold no weight to support us or resist either but its a fair marker of progress if we can pass these. So here blue is a weekly average roughly and yellow would be the monthly. More often watched is the 50 day average and ideally we want that positive trend and to stay above that measure to stay a proper recovery, moving from this negative bout of BTC price action .
The real target is something like 27.5k but thats bigger picture, this is a quick view and for once its too nice to deny we are doing ok.

gunhell16

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Right now, the market is not doing very well when it comes to Bitcoin's value. Although the price has increased a little, it is still not enough to continue its rise right now, I see that it can still drop below 25885 this day, or else it can continue to go up to 27100 tomorrow.

But of course that still depends on what happens, because we know that when there is good news, whatever it is, the price value of Bitcoin will surely pump, and if there is negative news in crypto or Bitcoin, Bitcoin will obviously dump. The logic is also simple: when the value of the dollar drops, surely the price of Bitcoin will rise, and when the value of the dollar increases, Bitcoin will drop.

Falconer

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Quote from: yohananaomi on September 12, 2023, 04:10:30 PM

Quote from: kentrolla on August 24, 2023, 11:42:33 AM

-snip-

With the situation not improving, of course many will be overwhelmed by excessive fear and will take very detrimental actions by selling prematurely, feeling that is the best way before the price goes down further. I also agree with you that I hope that investors will continue to hold it because sometimes this is something temporary and will return to normal. I think a correction of up to close to $20K could happen, and this will certainly affect altcoins. You are right that altcoins that are good will be able to continue moving along with bitcoin, but on the other hand, those that are not capable will actually get worse.Therefore, always analyze carefully before placing your funds in altcoins, because there are many potential altcoins that can be held and waited for in the halving era, which will be here soon.

I don't think many big investors have made the wrong decision in a market like this. Rather than thinking they have sold their bitcoin holdings, then I tend to see that they may have accumulated or something. The market allowed them to accumulate bitcoins as panic attacks often hit traders instead of investors, but now it seems that $25k will be maintained.

As I write the price of bitcoin is above $26k, but I know that is not yet strong support after yesterday's correction. Bitcoin can still easily lose value even when the price is trying to recover, but I hope things like this can change as time goes by towards the end of the year.

yohananaomi

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Quote from: kentrolla on August 24, 2023, 11:42:33 AM

I personally think it will go below $25K and if the downfall continues it might further go down causing a possible bloodbath in altcoin markets and as usual Bitcoin will bounce back but not all the altcoins will have the similar fate as some will thrive while other will record new all time low and this cycle continue I don't understand what's so unique about it apart from the emotions of the investors, we have seen this number of times in the past. I just hope investors and traders don't over react and start selling their crypto assets.

With the situation not improving, of course many will be overwhelmed by excessive fear and will take very detrimental actions by selling prematurely, feeling that is the best way before the price goes down further. I also agree with you that I hope that investors will continue to hold it because sometimes this is something temporary and will return to normal. I think a correction of up to close to $20K could happen, and this will certainly affect altcoins. You are right that altcoins that are good will be able to continue moving along with bitcoin, but on the other hand, those that are not capable will actually get worse.Therefore, always analyze carefully before placing your funds in altcoins, because there are many potential altcoins that can be held and waited for in the halving era, which will be here soon.

doomloop

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Quote from: Nheer on August 27, 2023, 04:21:06 PM

Quote from: flyingcarpet on August 26, 2023, 01:14:19 PM

Short-term investors were badly affected by this situation. Now the question is whether the Bitcoin price will go even lower or will it stay here and rise. There is a repeat buying opportunity for the long-term investor. Negative news affects Bitcoin, but it's up to us not to panic sell. Bitcoin shouldn't be too affected by such news. Compared to the past, it often achieves this, but the risks may be higher for the short-term investor.

Whenever Bitcoin prices rises or falls there are always those who get affected and there are still those who benefits from it so it’s just as you said, it is left to us to decide whether to panic or not. Short term investors will actually suffer from such sudden fall and it made some to panic sell. Bitcoin movement as always been like this, we saw worse in the past and it bounced back so I don’t think there is any reason to panic instead we should make use of the opportunity to keep buying.

I still feel we could still see the price drop even more and we could see bitcoin price drop to around $23,000 to $21,000.

The behavior of a Bitcoin investor on its price actions basically depends on their beliefs regarding the cryptocurrency. Those who believe in it and know it has the potential to overcome these drops and dips can never panic but they will make use of the opportunities as much as they can. On the other hand, those who are new in the market and don't understand Bitcoin and the market very well will surely panic seeing their portfolios dropping value.

About the market and the price of Bitcoin, I also believe that we might see a further decline from this range and I don't really see it going back to where it was before the dip, most of the retail investors don't look confident, and not investing, a lot of them are panic selling, so this can cause a slight drop.

EarnOnVictor

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Quote from: BALIK on August 22, 2023, 03:59:48 AM

Quote from: WatChe on August 22, 2023, 02:41:40 AM

Quote from: Oshosondy on August 22, 2023, 02:30:06 AM

Bitcoin price is not going up and $26000 is becoming a resistance. If bitcoin price stay for long at $26000 or slightly below the price for long, there would be a time that the market would become highly volatile again and which could be in the uptrend or downtrend. What I am saying is that as bitcoin is likely to increase, there is also a big chance that the price will fall. And if the price reaches $23000/24000, let us expect bitcoin to fall below $20000 but which would create a strong support.

I think Bitcoin will move to window of 29 to 30k USD very soon as 26k is giving very strong support. Bitcoin price was very much stable on 30k and this correction was expected. To me its a good time to accumulate some discounted Bitcoin. Also we have Halving coming up next year and the Bitcoin community is now mature enough to prepare in advance for that event. Its not very much likely that Bitcoin will go bearish.

P.S: This analysis is just my personal analysis. DYOR.

I remember when bitcoin was moving sideways around the $30k area, everyone had the same prediction as you. Everyone thinks the $30k resistance is unbreakable, and a continuation to the 33k-35k level is almost certain. But then what? Everything plummeted to $26,000 for no reason at all. Likewise, $26k is being seen by everyone as unbreakable resistance and bitcoin should recover from here. I really doubt it will go up from here since there are so many Fuds about Binance in the market.

Well, certainly not me and I could remember that I gave an analysis regarding this at that time. True traders will not be adamant on a certain direction especially when the market is channelling like it was doing at the time you referred to, they give conditions.

However, I still give kudos to everyone's analysis if not done through guesswork. And just because they were wrong at that time doesn't mean they will be wrong this time.

Quote from: dansus021 on August 21, 2023, 08:20:07 PM

The weekly chart this is supposed to be a local support tho I don't know what will happen if Mr. Powell decide to raise the interest again the 18K is possible Lips sealed

I don't see $18k in sight in the next 3 months and no matter how impactful the speech of Jerome Powell is, it will not move Bitcoin much. I've seen interest rates news and his speeches and the FOMC meeting minutes moved gold as much as over 450 pips, but Bitcoin just moved about 70 pips in such a situation.

So, it depends on the mood of the market, the trend and the support and resistance levels the news hits the market.

Quote from: Gozie51 on August 21, 2023, 12:09:34 PM

Your chart is pointing down to 18,556 and that could mean a very bearish time but I don't know what month it could be or even this year.

Lol...That is a mere coincidence with the grid, the arrow was just a representation of a bearish trend, nothing else. The real levels were defined afterwards, and as you can see, the $18,556 is certainly not part of the discussion.

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Quote from: EarnOnVictor on August 21, 2023, 05:16:28 AM

Let me hear from you guys, what do you think of the fate of $25,000 this time?

it shows strong hold at 25k matey , and yes not staying at 26k and above , but who knows in the next coming weeks? because the year is near ending as we are not in August and near to close the 3rd quarter.
but I will definitely hold my coin now till halving happens next year.\

Quote from: kentrolla on August 24, 2023, 11:42:33 AM

I personally think it will go below $25K and if the downfall continues it might further go down causing a possible bloodbath in altcoin markets and as usual Bitcoin will bounce back but not all the altcoins will have the similar fate as some will thrive while other will record new all time low and this cycle continue I don't understand what's so unique about it apart from the emotions of the investors, we have seen this number of times in the past. I just hope investors and traders don't over react and start selling their crypto assets.

but why beleive it will go down that level ? price is recovering now and I think this will go at least back to 30k now as the effect of the recent problem is subsiding now.

Topic: Will $25,000 give way this time? (Read 708 times)