Will $25,000 give way this time? - page 3.

WatChe

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Quote from: gunhell16 on August 24, 2023, 06:50:22 AM

Right now if we look at the chart, it is a bit difficult to break the barrier between 26k$, maybe because there are still many other investors who are concerned about the current situation, or need to think of a good strategy so that the market can go down again in the bear season and back to the uptrend again.

But regardless of the current situation of Bitcoin's value, it has no effect on long-term holders in reality, but the only ones affected by this are the panic buyers and others who do not have enough knowledge.

Yesterday, Bitcoin went below 26k$ and then recovered back to 26.5k$. There is nothing much to panic as price is very much stable on 26k$. If one is thinking to accumulate Bitcoin then its best to accumulate right now in DCA manner. Keep one thing in mind that we have halving coming up in few months and there are many out there who are accumulating Bitcoin at current discounted price. Such small waves are part of bitcoin ecosystem and shouldn't be taken with much worry.

gunhell16

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Right now if we look at the chart, it is a bit difficult to break the barrier between 26k$, maybe because there are still many other investors who are concerned about the current situation, or need to think of a good strategy so that the market can go down again in the bear season and back to the uptrend again.

But regardless of the current situation of Bitcoin's value, it has no effect on long-term holders in reality, but the only ones affected by this are the panic buyers and others who do not have enough knowledge.

pooya87

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I don't see anything different in the market now compared to when price was at $30k. There was no reason to drop this much back then and there still is no reason for any more drops now. Yet the price dropped and there is still a chance that it can drop.
The problem is that right now the market is unpredictable and the global economy is pretty wild and volatile. Until that changes, we should expect irrational market where price one day drops hard and the other day shoots up hard.

This is also one of those times when you don't want to be trading. If you want to invest just do DCA and HODL.

tabas

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Quote from: jasonjm on August 23, 2023, 11:57:57 PM

I think the $25k support level won't hold, and we might see a drop to $20k or lower in a couple of months. It will be the end of the market correction, and after that, the price will increase after BTC halving. The news is circulating regarding SEC, Binance, ETF delay, and a possible global economic recession; a pump over $30k in the next few months is not on the cards.

While it has reached $25k a few days ago but it didn't went below it. But the possibility is always there and everyone's still in doubt if it will recover quickly and go back to $30k. This is what uncertainty is playing on the market. Too many news starting from the strict compliance of Binance against US and then SEC plays a lot of details onto the market which brings FUD to many. As much as the news about Bitcoin ETF, they're hinting many of those are going to be approved. But as an individual looking at the market, we don't have to rely a lot on it.

Quote from: jasonjm on August 23, 2023, 11:57:57 PM

Get ready for another sharp dump in the coming months.

Been prepared for that every time the market shows how volatile it is.

davis196

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Quote from: woez on August 21, 2023, 06:47:43 AM

It is very possible if the support is broken, and it is possible that it will drop again. Moreover, the big sell-off came from large institutions that were shaken even though they knew that BTC had to be patient and use a defensive pattern, although some people think that BTC is very cheap now. So, we can take a lesson in these 2 days, not only the direction of price movement that we see, but margin and leverage must also be calculated in trading.

What "big sell-off from large institutions" are you talking about? All the "BTC sell-off" news were about SpaceX, but I have reasons to believe that those news were fake. I don't know anything about any big companies selling BTC right now. The idea of SpaceX having Bitcoins seems ridiculous to me.
Anyway, I expect the 2022 scenario to repeat and we might be witnessing a 15K-20K USD Bitcoin price in the last Quarter of 2023.
This will happen, if we see negative news about Binance and Coinbase, or another big centralized exchange does bankrupt or turns into exit scam.

buwaytress

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Quote from: jasonjm on August 23, 2023, 11:57:57 PM

I think the $25k support level won't hold, and we might see a drop to $20k or lower in a couple of months. It will be the end of the market correction, and after that, the price will increase after BTC halving. The news is circulating regarding SEC, Binance, ETF delay, and a possible global economic recession; a pump over $30k in the next few months is not on the cards. Get ready for another sharp dump in the coming months.

Funny thing is, this will be when most mids will be shorting to get some of that sub 25k action, but then yesterday's bounce will keep happening and take out all those stops, so most people will anyway miss out on the drop (I'm thinking it has to happen as well, just not necessarily in this period).

The coming sharp dump was coming, regardless of the news (my arbitrary dump-must-come-before-bull signal says so).

jasonjm

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I think the $25k support level won't hold, and we might see a drop to $20k or lower in a couple of months. It will be the end of the market correction, and after that, the price will increase after BTC halving. The news is circulating regarding SEC, Binance, ETF delay, and a possible global economic recession; a pump over $30k in the next few months is not on the cards. Get ready for another sharp dump in the coming months.

Bitcoin_people

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We saw the Bitcoin market at $30,000 a few days ago, but this week the market has completely collapsed. Since the investigation you made was correct as the market almost touched $25000. We think it was a minor bear and so we should not be disappointed because we know that the Bitcoin market is always on the upswing. But we can believe that since the Bitcoin market has been down a bit, it has changed a bit for a few days and we can expect it to pick up again in the last week. And if we invest now then surely it will be good for us because in future we can earn a lot of money from it. And if we practice the bitcoin market we can see that the future of bitcoin is bright and near so it should hold us for a long time. When we invest we never think short term but think long term when bitcoin market bulls can expect good profit.

redsun114

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Quote from: STT on August 21, 2023, 07:36:27 AM

Interesting thing is that a year ago we were right here anyway. The difference in tone this time is we are viewing thar area from above, having it as support where it was a ceiling a year before. I think its good support so not right now, in wider terms I'd say we repeat ourselves and keep failing to test the higher prices even when positive for days, a week or more. Overall it has been the case we move sideways more then up and thats the label for the whole year, more then any proper fight, progression or even race but we are mud fighting in a pit in a messy way falling over all the time.

People do forget about those things, just a year ago we were probably a lot lower than this, I remember on September or October we were closer to 15k levels before we started to take off and reached to 30k levels. I understand that some people may not enjoy this situation and that is understandable, nobody likes to see the price go down, but that doesn't mean that we are going to end up with a problem, we need to realize that we are going to end up with a good result one way or another.

This is why it's important to focus on making as much profit as you possibly could, it will definitely end up making you a good profit. This is why keep holding bitcoin even during low periods and when it's crashing is so important.

imamusma

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Quote from: Jating on August 23, 2023, 07:25:35 AM

Quote from: Joshapat on August 23, 2023, 06:26:07 AM

Today price dropped again to around $25k, for those who have plan to earn big profit in next 6 months then now is the right time to buy, many analysts believe that bull run will happen at the end of the year and could set a new ATH record , continue to buy and focus on the goal.

Good advise, but only smart investors knows this. The majority if they see the price going down, panics and sell their stash. On the other hand, those who are in the game for so long know that this seldom happens and so they just buy and scoop up bitcoin from those newbies.

So as much as we don't know to see the price going down, it's better to see it and then just take advantage of that situation as it might never come again. Next year will be one bull run so just imagine if you buy today and then most likely makes x5-x10 in the future and that's how money is made here.

Experienced investors certainly know when to take advantage of the best opportunities to accumulate their assets. We may not fully expect all investors to behave in the same way towards market volatility, but of course avoiding panic during dumps is one method of not losing money.

While we often find that golden hands are more likely to hold on to their investment assets than to sell them when dumping, they are bound to make a bigger profit in the long run. But that good advice of course has to be tailored to each individual's budget, so not everyone needs to accumulate if they don't have a budget. Just hold on and don't panic and avoid the market as much as they can.

Jating

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Quote from: Joshapat on August 23, 2023, 06:26:07 AM

Today price dropped again to around $25k, for those who have plan to earn big profit in next 6 months then now is the right time to buy, many analysts believe that bull run will happen at the end of the year and could set a new ATH record , continue to buy and focus on the goal.

Good advise, but only smart investors knows this. The majority if they see the price going down, panics and sell their stash. On the other hand, those who are in the game for so long know that this seldom happens and so they just buy and scoop up bitcoin from those newbies.

So as much as we don't know to see the price going down, it's better to see it and then just take advantage of that situation as it might never come again. Next year will be one bull run so just imagine if you buy today and then most likely makes x5-x10 in the future and that's how money is made here.

Joshapat

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Today price dropped again to around $25k, for those who have plan to earn big profit in next 6 months then now is the right time to buy, many analysts believe that bull run will happen at the end of the year and could set a new ATH record , continue to buy and focus on the goal.

BALIK

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Quote from: WatChe on August 22, 2023, 03:41:40 AM

Quote from: Oshosondy on August 22, 2023, 03:30:06 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.

Mpamaegbu

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Quote from: Oshosondy on August 22, 2023, 03:30:06 AM

Quote from: Mpamaegbu on August 22, 2023, 03:08:47 AM

~snipped~

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.

No, I don't expect it to calamitously fall below $20,000. Even though I know any dip Bitcoin suffers now, it will still rise from that ashes. We've seen this happen countless times. However, this is speculation and in speculation it's either this or that. Whatever happens now (FUD) that can drag Bitcoin price down, my advice is that people shouldn't panic. There's a halving coming and its expected bull rally.

WatChe

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Quote from: Oshosondy on August 22, 2023, 03:30:06 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.

Oshosondy

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Quote from: Mpamaegbu on August 22, 2023, 03:08:47 AM

In my view, if that unexpected dip of a few days ago could drag price beneath $25,000 even though it was printing weak bearish candles before then (even on the weekly), I don't see it breaking it now. It seems fair that price is trying to rally up from the above $25k it's now to where it was $29k+ before that inglorious fall. Nonetheless, let me quickly add that even if it collapses on the corrective to your projection at $24,700 it's still within the $25k in a manner of speaking. Losing $300–$500 isn't a big deal for Bitcoin.

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.

traderethereum

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Since the Bitcoin price couldn't go any higher and only hovered around $29k, I already felt it could drop again.
But that's how I feel because usually, that's how it's always been.
After the market has been looking flat or sideways for a while, and a correction comes and booms, it turns out that the price is dropping and even dropping deeply.
Bitcoin lost $3k in a short time, and everyone is speculating and the media says it has a lot to do with it.
And now, the price of Bitcoin is still trying to rise again but it's still difficult to increase higher.
So we need to be prepared for all the possibilities that can happen.

Mpamaegbu

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Quote from: EarnOnVictor on August 21, 2023, 06:16:28 AM

Now, the weekly chart remains bearish and threatens further selling. I see $25,000-$24,700 (approx. low of June) as the viable barriers to contend with. A significant break of these levels would further pressure the market.

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

In my view, if that unexpected dip of a few days ago couldn't drag price beneath $25,000 even though it was printing weak bearish candles before then (even on the weekly), I don't see it breaking it now. It seems fair that price is trying to rally up from the above $25k it's now to where it was $29k+ before that inglorious fall. Nonetheless, let me quickly add that even if it collapses on the corrective to your projection at $24,700 it's still within the $25k in a manner of speaking. Losing $300–$500 isn't a big deal for Bitcoin.

dansus021

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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

and next month is September meaning in most cases would be the lowest point on any instrument including bitcoin and stock market Cry

bear with me guys :')

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Quote from: Ndabagi01 on August 21, 2023, 06:55:20 PM

Quote from: EarnOnVictor on August 21, 2023, 06:16:28 AM

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

There was a lot of talk about bitcoin going bearish to $26,000, but it came as a surprise because of how quickly everything transpired. I was anticipating it, but not this quickly or unexpectedly. According to the chart you provided, sliding below this price could be imminent. I'm not sure how abruptly, but I believe it will fall below $26,000 again and maintain a resistance at $25,000. We can predict whether the market will be more bearish or bullish at that time based on how the market performs at the time.

The manner in which the price of Bitcoin dropped in large proportion made me to wonder what really may have cause the price to drop in such a manner and at that level, 4k off the previous price over a short period is something that we all need to look at a second glance for once never thought that the price of Bitcoin will drop in such significant proportion, I almost missed the party because I took a break from constant check on the bitcoin price chart for a while now, when I saw the bloodbath incident trending on Twitter I was surprised that Bitcoin could fall in such manner at that short time frame.

But none less, we have to remain optimistic about the market recovery in the long, and for that one will have to fake the present market condition as an opportunity to buy the dip because this kind of discount price doesn't come all the time

Topic: Will $25,000 give way this time? - page 3. (Read 634 times)