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?

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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.

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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.

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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.

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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$.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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$26048 or higher is what Im looking for as Asia open approaches, really weak build today but a slight positive and its not my personal preference to guess on short term time frames especially the weekend. However Sunday is the closing day for the weekly bar and its quite reasonable for BTC to attempt higher. If we do fail to attempt higher in some way then its fair guess we will test the lower prices again. These bottom prices are the Feb peaks and relate to almost a whole year of pricing prior to this years March where we finally got some more positive action; that action has reversed hence once again we check this lower price range as valid or not. We're just knocking on the door at the moment, hoping theres no answer hoping the door is not opened to lower and all the monsters BTC must then fight to stay alive 👺

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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.

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Quote from: TravelMug on August 24, 2023, 06:18:06 AM

See the price sticking up above $26,500 already so that is a good sign that the bulls are back and trying to defend our support and maybe we already forgotten who or what is the reason for the current declined to this price.

But any how, yeah, we still have a lot of time to accumulate bitcoin right now, $26.5 is still cheap in my opinion. And if we don't have the big capital to buy at this price, then it's not over yet. We still have the DCA that can help us to buy and accumulate over time.

If it's only about the bull sign, we always have that. How many time we touch $30k? And we already touch $31k a couple of times but there is still no bull run that occurred. Maybe you need to calm down for a while and wait till we get out the $31k barrier because maybe that is the real sign of a bull run.

So far I don't forget the reason about the dip but I know, lots of people are not yet aware of it as I saw lots of threads and replies, asking if what is the reason about the current dip but me and others who know it, already said it to them. DCA is within us but not all are willing to do it. They think buying at bulk in a major dip is the best. Well that's their strategy so we should respect that.

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

Quote from: ScamViruS on August 26, 2023, 12:48:17 PM

Quote from: jostorres on August 25, 2023, 03:16:40 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.

I hope there is no downtrend like you said. If the price continues to decrease, I think that positive news will be given in the market in a short time and it will start to rise.

Traders are badly affected when the market suddenly enters a downtrend and becomes extremely volatile. The way Bitcoin quickly dumped after the news of SpaceX came out, it goes without saying that leveraged traders were the most affected as the liquidation hit a record amount. Now the level that Bitcoin is in, and the way negative news is spreading in the market, it is difficult to predict to which level Bitcoin will go downtrend or uptrend. Bitcoin started this year with positive momentum but now the market is not in a good position.

Bitcoin started this year with positive momentum but now the market is not in a good position. We all want to see Bitcoin always in an uptrend, but before the next uptrend starts, the market will make a healthy correction. So now it will be effective decision to monitor the market movement with patience.

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Quote from: ScamViruS on August 26, 2023, 12:48:17 PM

Quote from: jostorres on August 25, 2023, 03:16:40 PM

I don't think we should put the blame on Tesla. It wasn't Tesla by the way but it was SpaceX being blamed for selling its stack of Bitcoins. Later it was revealed that it isn't actually the reason behind the dip and there are multiple reasons for that. However, it doesn't really make a difference no matter what the issue was behind the dip, now When we are facing it, we need to think about how we need to react to the market condition instead of thinking of the reason behind it.

The news that SpaceX has sold their bitcoins came out much later and the market reacted very badly. Whether the news is done on purpose to take the market into a downtrend is something to think about, which is out of the mind of ordinary traders like us. For those who are short-term traders, this news has a great impact on their trading, many traders have faced huge losses as a result of this news. The market is still above $25000, I don't know how much lower the market can go from here, if the market goes below $25000 then we may see more downtrend. In fact, it is best for long-term investors as they do not have to keep track of such market news, thereby leading a stress-free life.

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.

I hope there is no downtrend like you said. If the price continues to decrease, I think that positive news will be given in the market in a short time and it will start to rise.

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Quote from: jostorres on August 25, 2023, 03:16:40 PM

I don't think we should put the blame on Tesla. It wasn't Tesla by the way but it was SpaceX being blamed for selling its stack of Bitcoins. Later it was revealed that it isn't actually the reason behind the dip and there are multiple reasons for that. However, it doesn't really make a difference no matter what the issue was behind the dip, now When we are facing it, we need to think about how we need to react to the market condition instead of thinking of the reason behind it.

The news that SpaceX has sold their bitcoins came out much later and the market reacted very badly. Whether the news is done on purpose to take the market into a downtrend is something to think about, which is out of the mind of ordinary traders like us. For those who are short-term traders, this news has a great impact on their trading, many traders have faced huge losses as a result of this news. The market is still above $25000, I don't know how much lower the market can go from here, if the market goes below $25000 then we may see more downtrend. In fact, it is best for long-term investors as they do not have to keep track of such market news, thereby leading a stress-free life.

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Quote from: TravelMug on August 24, 2023, 06:18:06 AM

See the price sticking up above $26,500 already so that is a good sign that the bulls are back and trying to defend our support and maybe we already forgotten who or what is the reason for the current declined to this price.

But any how, yeah, we still have a lot of time to accumulate bitcoin right now, $26.5 is still cheap in my opinion. And if we don't have the big capital to buy at this price, then it's not over yet. We still have the DCA that can help us to buy and accumulate over time.

I agree, we are not at a stage where it should be scary, we are at a moment where we should be happy with what's going on. I know that it sounds crazy when you tell people "bitcoin price is down, I have some bitcoins, I am happy about it going down".

When you tell this to people they think you are mad or something but the reality is that it's true, because it allows me to buy some more. I think it's quite important to realize that you are going to end up with some profit when the time comes and you are going to make some profit with it as well. It's a great way of making a profit, it means that you are going to profit from it by buying more and holding until it recovers and it will certainly make a good return without a doubt.

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Quote from: jostorres on August 25, 2023, 03:16:40 PM

Quote from: Nrcewker on August 24, 2023, 07:48:48 AM

This sudden dip is due to the bad news that market has faced. Tesla selling huge amount of Bitcoins was the catalyst that made the market crash. Bitcoins have suddenly fell from 30k usd to 25k usd. This isn’t bad at all to be honest. It just gave us the opportunity to buy the coin for low price. I would suggest everyone not to panic and accumulate as many coins as you can. The price will soon go up again during 2024.

I don't think we should put the blame on Tesla. It wasn't Tesla by the way but it was SpaceX being blamed for selling its stack of Bitcoins. Later it was revealed that it isn't actually the reason behind the dip and there are multiple reasons for that. However, it doesn't really make a difference no matter what the issue was behind the dip, now When we are facing it, we need to think about how we need to react to the market condition instead of thinking of the reason behind it.

So, a lot of people will take this as negative because they might have already invested when the price was stagnant at around $30k for about six months, while a lot of people will also find this to be an opportunity to make their investments because they've been waiting for an opportunity like this.

I could agree with that because it was not the Tesla issue that brought the market sentiment like this but many factors including economic downturn in some countries and FUDs. The negative news circulating on the internet and in social media really has a negative impact on the mindset of the crypto investors, they'll think negatively as well and even be bothered about what they'll be doing next. However, the price never fall close to $25k this time, it was an indication that despite that panic had start, many investors are still strong and keep holding their cryptos.

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Quote from: Nrcewker on August 24, 2023, 07:48:48 AM

This sudden dip is due to the bad news that market has faced. Tesla selling huge amount of Bitcoins was the catalyst that made the market crash. Bitcoins have suddenly fell from 30k usd to 25k usd. This isn’t bad at all to be honest. It just gave us the opportunity to buy the coin for low price. I would suggest everyone not to panic and accumulate as many coins as you can. The price will soon go up again during 2024.

I don't think we should put the blame on Tesla. It wasn't Tesla by the way but it was SpaceX being blamed for selling its stack of Bitcoins. Later it was revealed that it isn't actually the reason behind the dip and there are multiple reasons for that. However, it doesn't really make a difference no matter what the issue was behind the dip, now When we are facing it, we need to think about how we need to react to the market condition instead of thinking of the reason behind it.

So, a lot of people will take this as negative because they might have already invested when the price was stagnant at around $30k for about six months, while a lot of people will also find this to be an opportunity to make their investments because they've been waiting for an opportunity like this.

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Quote from: Natalim on August 25, 2023, 05:17:37 AM

Quote from: ShowOff on August 24, 2023, 02:49:34 PM

Quote from: TravelMug on August 24, 2023, 06:18:06 AM

See the price sticking up above $26,500 already so that is a good sign that the bulls are back and trying to defend our support and maybe we already forgotten who or what is the reason for the current declined to this price.

But any how, yeah, we still have a lot of time to accumulate bitcoin right now, $26.5 is still cheap in my opinion. And if we don't have the big capital to buy at this price, then it's not over yet. We still have the DCA that can help us to buy and accumulate over time.

The price of bitcoin is still too easy to fall due to panic and adjustments of traders' strategies. This makes me a bit pessimistic about being bullish in August, but I can expect a recovery or a sideway. Today bitcoin price was close to breaking $27k, but its value is too volatile after a few hours.

We're gaining back high slowly but yeah, it was still hard for Bitcoin to totally recover before the end of this month, I was just expecting to reach $27k. But it wasn't bad for me for at least we see that it never fall down below $25k as most of speculators think about. But still it was uncertain where it goes this week end as the price keeps moving up and down. However, I'm still okay and not worrying anything because I know this won't take so long but it goes on uptrend momentum when the halving is getting closer.

There are too many bitcoin predictions being propagated in the market and it is hard to know what will happen tomorrow.

Yes, we will most likely see $27k by the end of this month but that doesn't mean it will never drop to $25k. you can't say for sure because you don't have any evidence to prove it, what you say is just your opinion. if we look at the market, it is clear that the downtrend still prevails and bitcoin could drop to $25k or $24k before returning back to $27k. Anything is possible and nothing is certain with bitcoin.

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Quote from: ShowOff on August 24, 2023, 02:49:34 PM

Quote from: TravelMug on August 24, 2023, 06:18:06 AM

See the price sticking up above $26,500 already so that is a good sign that the bulls are back and trying to defend our support and maybe we already forgotten who or what is the reason for the current declined to this price.

But any how, yeah, we still have a lot of time to accumulate bitcoin right now, $26.5 is still cheap in my opinion. And if we don't have the big capital to buy at this price, then it's not over yet. We still have the DCA that can help us to buy and accumulate over time.

The price of bitcoin is still too easy to fall due to panic and adjustments of traders' strategies. This makes me a bit pessimistic about being bullish in August, but I can expect a recovery or a sideway. Today bitcoin price was close to breaking $27k, but its value is too volatile after a few hours.

We're gaining back high slowly but yeah, it was still hard for Bitcoin to totally recover before the end of this month, I was just expecting to reach $27k. But it wasn't bad for me for at least we see that it never fall down below $25k as most of speculators think about. But still it was uncertain where it goes this week end as the price keeps moving up and down. However, I'm still okay and not worrying anything because I know this won't take so long but it goes on uptrend momentum when the halving is getting closer.

ShowOff

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Quote from: TravelMug on August 24, 2023, 06:18:06 AM

See the price sticking up above $26,500 already so that is a good sign that the bulls are back and trying to defend our support and maybe we already forgotten who or what is the reason for the current declined to this price.

But any how, yeah, we still have a lot of time to accumulate bitcoin right now, $26.5 is still cheap in my opinion. And if we don't have the big capital to buy at this price, then it's not over yet. We still have the DCA that can help us to buy and accumulate over time.

The price of bitcoin is still too easy to fall due to panic and adjustments of traders' strategies. This makes me a bit pessimistic about being bullish in August, but I can expect a recovery or a sideway. Today bitcoin price was close to breaking $27k, but its value is too volatile after a few hours.

We can accumulate at current rates, but this plan is for anyone who have a budget.
The accumulation advice on dips is especially useful if you are a long term investor, of course because the long term potential of bitcoin is really good. Buy a dip and hold it, that's helpful advice in my opinion.

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Quote from: Nrcewker on August 24, 2023, 07:48:48 AM

This sudden dip is due to the bad news that market has faced. Tesla selling huge amount of Bitcoins was the catalyst that made the market crash. Bitcoins have suddenly fell from 30k usd to 25k usd. This isn’t bad at all to be honest. It just gave us the opportunity to buy the coin for low price. I would suggest everyone not to panic and accumulate as many coins as you can. The price will soon go up again during 2024.

I am wonder that people are aware of all the situations of crypto and still they are worried during such situations. All the time market goes down and then recover back to higher value and knowing this fact they still loss hopes and selling their coins at loss.

Bad news are spreading everywhere and may be some of them are correct but we also know the news that market will recover back but people trust in negative news easily but they don't accept the good news quickly.

Wise person is that who utilize his knowledge during bear season and accumulate certain good coins to take profit when market increases again.

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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.

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Quote from: WatChe on August 24, 2023, 10:55:09 AM

Bitcoin sustaining 26k$ is a symbol that we are at bottom of current DIP. Remember Bitcoin price was very much stable at 30k$ for around 2 months and its very unlikely that we see further dip in price. Halving is coming up next year and big ones are gathering.

Its best to accumulate Bitcoin in DCA manner rather then investing complete capital at one price. We dont know whether price will go to 30k$ from here or further down. With DCA we cant avoid the risk but can minimise it.

Bitcoin accumulation with the DCA strategy will be very helpful in order to invest capital at several Bitcoin prices.
I even do it often and it is quite effective for the long term, so that more profits will be made when prices rise.

Bitcoin is still able to survive around the current price of $26k and that will be a strong support.
Although the low of the last few weeks was around $25k, it was a bounce for Bitcoin.
It will be difficult to break again and we just have to hope that Bitcoin is able to rise above $30k again.

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Quote from: TravelMug on August 24, 2023, 06:18:06 AM

See the price sticking up above $26,500 already so that is a good sign that the bulls are back and trying to defend our support and maybe we already forgotten who or what is the reason for the current declined to this price.

But any how, yeah, we still have a lot of time to accumulate bitcoin right now, $26.5 is still cheap in my opinion. And if we don't have the big capital to buy at this price, then it's not over yet. We still have the DCA that can help us to buy and accumulate over time.

Bitcoin sustaining 26k$ is a symbol that we are at bottom of current DIP. Remember Bitcoin price was very much stable at 30k$ for around 2 months and its very unlikely that we see further dip in price. Halving is coming up next year and big ones are gathering.

Its best to accumulate Bitcoin in DCA manner rather then investing complete capital at one price. We dont know whether price will go to 30k$ from here or further down. With DCA we cant avoid the risk but can minimise it.

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Quote from: Nrcewker on August 24, 2023, 07:48:48 AM

This sudden dip is due to the bad news that market has faced. Tesla selling huge amount of Bitcoins was the catalyst that made the market crash. Bitcoins have suddenly fell from 30k usd to 25k usd. This isn’t bad at all to be honest. It just gave us the opportunity to buy the coin for low price. I would suggest everyone not to panic and accumulate as many coins as you can. The price will soon go up again during 2024.

These dips are natural and not too significant, and are actually good opportunities to buy and collect more Bitcoins as each dip is a can't-miss discount for long-term Bitcoin holders.
Of course the decline that occurred was caused by several factors, including some selling to take profits and some selling out of panic, but this moment will be put to good use by long-term holders or strong hands. Because they believe the Bitcoin price will come back up, and I assume a Bitcoin price below 30k is still the best buy.

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Quote from: jasonjm on August 23, 2023, 10:57:57 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.

Hopefully your prediction regarding the decline will turn out to be incorrect, because I personally am not waiting for a price drop in Bitcoin although I would also be very prepared if it were to happen. But I'm still not sure that it will happen in the coming months, because the support from investors and also traders who like to buy Bitcoin in large quantities is still there so there is a possibility that a sharper decline will not happen immediately as you said although I also don't think that a sharp increase for Bitcoin is also not going to happen anytime soon.

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That is very possible considering that currently the slow decline continues and coupled with the current news there is no strong support for us to be able to recover as soon as possible.
Maybe right now it's just because of strong support that the decline that occurred is not significant, but even though that doesn't rule out that $25k will hold, I also believe so.

Currently, the level of increase and decrease still looks the same, that is, they are equally insignificant so that two potentials may still be born under the current conditions. It's just that I'm just more confident in one of the potentials for this year, namely the potential for an increase in price before the halving occurs or at least before entering next year, because demand from Bitcoin buyers themselves may also increase this year. Moreover, some people are waiting for the halving on Bitcoin and they will buy Bitcoin before it happens.

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This sudden dip is due to the bad news that market has faced. Tesla selling huge amount of Bitcoins was the catalyst that made the market crash. Bitcoins have suddenly fell from 30k usd to 25k usd. This isn’t bad at all to be honest. It just gave us the opportunity to buy the coin for low price. I would suggest everyone not to panic and accumulate as many coins as you can. The price will soon go up again during 2024.

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Quote from: WatChe on August 24, 2023, 06:12:42 AM

Quote from: gunhell16 on August 24, 2023, 05:50:22 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.

See the price sticking up above $26,500 already so that is a good sign that the bulls are back and trying to defend our support and maybe we already forgotten who or what is the reason for the current declined to this price.

But any how, yeah, we still have a lot of time to accumulate bitcoin right now, $26.5 is still cheap in my opinion. And if we don't have the big capital to buy at this price, then it's not over yet. We still have the DCA that can help us to buy and accumulate over time.

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Quote from: gunhell16 on August 24, 2023, 05:50:22 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.

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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.

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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.

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Quote from: jasonjm on August 23, 2023, 10:57:57 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, 10:57:57 PM

Get ready for another sharp dump in the coming months.

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

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Quote from: woez on August 21, 2023, 05:47:43 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.

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Quote from: jasonjm on August 23, 2023, 10:57:57 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).

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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.

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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.

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Quote from: STT on August 21, 2023, 06:36:27 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.

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Quote from: Jating on August 23, 2023, 06:25:35 AM

Quote from: Joshapat on August 23, 2023, 05:26:07 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.

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Quote from: Joshapat on August 23, 2023, 05:26:07 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.

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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.

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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.

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

Quote from: Mpamaegbu on August 22, 2023, 02:08:47 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.

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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.

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Quote from: Mpamaegbu on August 22, 2023, 02:08:47 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.

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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.

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

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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, 05:55:20 PM

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?

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

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We just don't know how the market of Bitcoin is going to react in the next coming months so the always better strategy here is to dollar cost average, But yes for sure 25k$ is better than buying Bitcoin at 30k$ is much lower and give you a good discount on buying Bitcoin, I mean we cannot really predict the market price of Bitcoin we don't know if it is going to continue to drop in the next coming months, buying when the market price drop we should increase our buying power, probably there are some investors that continue to buy when the price is 25k$ then stop when the price drop to 25k$, I think that was just nonsense since when the price drop we should buy more because we are going to buy more volume.

I mean I would still continue to buy in fact I buy more or let's say buy an extra every time the market price of Bitcoin drops a certain percentage then I buy continue my dollar cost average buying a small amount every 2 weeks. Just to make sure I still buying because the price was just unpredictable it could easily skyrocket at any time.

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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?

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.

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Quote from: Ojima-ojo on August 21, 2023, 04:38:45 PM

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. But your speculation for $25k is very possible with the drop already the price could still slowly drop as the effect of the shedding of 4,000 is still felt in the market, that is making weak hands to drop more coins in fear. It is all speculative but the real fact is Bitcoin will profit those who hold till the new dawn of halving next year.

At the moment, 25k seems to be the resistant price right now after Bitcoin fall sharply by shading almost 4k from its previous price of around 30k-31k this has been a significant fall in price that has sparked up a lot of reactions from various quarters but then also we have to try as much as possible not to be overwhelmingly convinced that the price of Bitcoin will go in a particular direction because many markets analysts have speculated that there will be a further drop in the price of Bitcoin but to me I believe this is the lowest low we can get before the next halving, although the price may touch 25k on several occasions but I don't think the price of bitcoin will go below that benchmark.

This is the best discounted Bitcoin price for a long time and it may not happen that we see such discount in Bitcoin price for a long time from now. But then also we have to be aware that due to the volatility of the price, anything can still happen as what becomes of the price whether it moves upward or downward no one can tell.

Not a resistant price but rather its strong support on which the price didnt fell down below this level which does means that it is really that holding.Unless if there would be another set of fud or negative news which would
really be making the price would be dropping into those points which we didnt really anticipate for it to happen. If ever the price would be hitting below 25k then we might be seeing 23k next and possible worst we would be going back on $20k. Well, im not really that close minded about the probabilities on which i do believe on something more lower considering that there might be still that last dip or decline before the price would be starting to recover and reaching out 40k to 50k as we are fast heading or approaching with the halving events on which we know that after that we would really be seeing that bull run. Although it wont really be an assurance on when it would be happening but at least you had already secured yourself on the bottom which it would be the wisest thing to be done.

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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.

I wouldn't be that bearish - even if price could eventually dip into that area during the course of the year. I don't expect bitcoin to dump more value and head for another low of support - but it is possible even if at the moment we are just speculating.

I expected more support rather than pessimism from the majority - but some groups definitely expect a deeper drop to the accumulation plan. A deeper decline is possible - but only if bitcoin is really hit by worse issues.

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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. But your speculation for $25k is very possible with the drop already the price could still slowly drop as the effect of the shedding of 4,000 is still felt in the market, that is making weak hands to drop more coins in fear. It is all speculative but the real fact is Bitcoin will profit those who hold till the new dawn of halving next year.

At the moment, 25k seems to be the resistant price right now after Bitcoin fall sharply by shading almost 4k from its previous price of around 30k-31k this has been a significant fall in price that has sparked up a lot of reactions from various quarters but then also we have to try as much as possible not to be overwhelmingly convinced that the price of Bitcoin will go in a particular direction because many markets analysts have speculated that there will be a further drop in the price of Bitcoin but to me I believe this is the lowest low we can get before the next halving, although the price may touch 25k on several occasions but I don't think the price of bitcoin will go below that benchmark.

This is the best discounted Bitcoin price for a long time and it may not happen that we see such discount in Bitcoin price for a long time from now. But then also we have to be aware that due to the volatility of the price, anything can still happen as what becomes of the price whether it moves upward or downward no one can tell.

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Quote from: BITCOIN4X on August 21, 2023, 03:45:50 PM

I hope the market will recover soon although some of us think this bearish trend will last longer. I very much believe this cycle will end and close the end of the month above $28k, however it would not hurt us to anticipate further declines. There are some doubts about the downside potential, but I believe the opposite is coming. No worse news expected, bitcoin should be priced higher towards the end of August.

As far as I know, we are already in a new cycle starting with a bear market. I also hope that the market will recover soon or if not soon, the halving will be enough catalyst to swing the trend to a bullish trend marking the start of the Bitcoin campaging to a new height(ATH).

Although I am not confident that Bitcoin will recover soon, I hope that the market will stay sideway and not do another dip down to sub $20k. It this happen, the Bitcoin market will take a heavy toll and those anti-Bitcoin will start their noise again saying "I told you". But although the market looks grim, this is the best time to accumulate at a lower price. So lets take our chance to get Bitcoin at a discounted price.

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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?

The fate of the $25k price tag of bitcoin is not properly clear how it will go or last. Whether it would stay down or go above it. But if we go by what other price of bitcoin has displayed, it is possible to say the fate of the $25k would come into play and the same way possible to remain at that price for long. I said that because the bitcoin price of $28k-$30k lasted for many months before it falls below the $4k difference($26k)

Now, that the bitcoin price is at $26k, it can fluctuate within the range of $25k-$26k for a month or two before we can think of seeing it skyrocket to a higher amount or a lesser amount.

In a nutshell, I think we'll keep seeing bitcoin for $25k-$26k until the end of this month or the beginning of next month

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I hope the market will recover soon although some of us think this bearish trend will last longer. I very much believe this cycle will end and close the end of the month above $28k, however it would not hurt us to anticipate further declines. There are some doubts about the downside potential, but I believe the opposite is coming. No worse news expected, bitcoin should be priced higher towards the end of August.

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Quote from: woez on August 21, 2023, 05:47:43 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.

I do portray everytime in bitcoin market that bitcoin doesn't have a specification in market, but some people do think that whenever Bitcoin is experiencing a positive reaction in the market and it will continue that way, I believe that bitcoin have it way of increment, so I believe everyone who is in bitcoin investment knows quite well that bitcoin is dependable, and you know very well that bitcoin as a currency is something I know that the price always fluctuates and it have no base of decrement and increment, it can increase today and tomorrow the price increases, so the increment of bitcoin is dependable on the market determination.

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Quote from: cabron on August 21, 2023, 12:39:07 PM

When the bears keep pushing the price down because a lot are selling out, a drop to 16k again might just signal a time to sell so you could buy at a lower price.

Do you think that 16K bitcoin price will come? If it comes to that level, it will make a double bottom and of course, in that price, you should accumulate more bitcoin but I doubt that we can see bitcoin ever again under 20K. With halving just a few months later, I do not think that the demand for Bitcoin can be so less that it can dump to under 20k.

Quote from: woez on August 21, 2023, 05:47:43 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.

Bitcoin is trading for about 26000$ and I am not sure if it will further dump in the short term. I think the dump for the moment is over and Bitcoin is headed again towards the 30K resistance but it may take some days before it will be ready to test that resistance again.

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When the bears keep pushing the price down because a lot are selling out, a drop to 16k again might just signal a time to sell so you could buy at a lower price. The market always comes back down to where the support is until bullish investors saves it. It's not something to worry however since there are always bullish investors who are willing to buy at a discount.

We all have different strategies, some are like holding for the long term and some are short sellers. The $25,000 depends on them.

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

It's no more news that Bitcoin fell sharply last week with over $4000 shedded, this was largely attributed to contradictory events, regardless, the market has moved significantly and the aftermath has left the sentiment on the larger charts bearish.

Whenever we had a bearish trend like this, people gives different opinions on why it appears the way we had it, unfortunately there's nothing to give in making clarity on this because bitcoin will always remain volatile weather through any of the occuring events attributed to the bear market or not, the way forward clearly shows from he chart that we are already in dip, but there's a very close attempts to rise base on the speculation given on the candles as seen, there have been more attempts to rise but the potential resistance is more this time around, but i think something new can be seen this week or subsequent for more attempts on bull.

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It is kinda hard to predict. This moment is a crazy time for the Bitcoin market. Out of the blue due to an unfounded rumor about Spacex selling their stash brings FUD to the market. I feel like someone is dragging the price down and I do not think that they had enough.

So from that, I believe there will be a tug of war and the price might hover in a sideway trend of $25k - $27k. It would be lucky for the buyer if the price slips down to $20k but I believe that is too far for Bitcoin to dip.

But well anything may happen, this is the Bitcoin market where everything is possible to happen.

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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. But your speculation for $25k is very possible with the drop already the price could still slowly drop as the effect of the shedding of 4,000 is still felt in the market, that is making weak hands to drop more coins in fear. It is all speculative but the real fact is bitcoin will profit those who hodl till the new dawn of halving next year.

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The current low of this drop is $25,400 maybe it was as a support point but bitcoin bounced up a bit and is now in the range of $26,000, I have always argued that a bottom support is likely to occur given that this is the bearish we saw since yesterday's drop but the $25,000 support point then there is a drop going down again.

I was expecting a drop of around $20,000 to accumulate even closer but my guess is that it is very wild meaning bitcoin is unlikely to fall any deeper except with a support point at its lowest $25,000 price.

Yeah, it's still hard to see the movement.

STT

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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.

Oshosondy

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We do not know where the price of bitcoin would be for now. There would likely be a support around $25500 to $25700. It may look bearish but I can see support around that price range.

If bitcoin breaks the support and it moved below $24000 to $23000, I am expecting $20000 and prices below again. If bitcoin will go down further, it will not go below $17000 is my guess.

AbuBhakar

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Quote from: woez on August 21, 2023, 05:47:43 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.

Some institutional investors always think about profit and doesn’t care about long term investment especially if they just enter on the dip and probably taking profit. This is same with day traders that rush in to purchase Bitcoin during the short term bull run. I’m thinking the current dip as shake off to remove those short term players and transfer there Bitcoin is to the new holders that will hold long term. This will make Bitcoin value slowly moving upward instead of a quick pump that follows by sharp dump like this.

woez

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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.

EarnOnVictor

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It's no more news that Bitcoin fell sharply last week with over $4000 shedded, this was largely attributed to contradictory events, regardless, the market has moved significantly and the aftermath has left the sentiment on the larger charts bearish.

If you remember in my last review here, I made mentioned that Bitcoin could do three things, it could either claim a bullish path with a convincing break of $31,450, or a bearish path with a sustainable breach of $29,400, or could remain sideways in a confined range between the two levels. It however chose to breach the lower end and convincingly moved a $4000 target below it.

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?

Topic: Will $25,000 give way this time? (Read 697 times)