Topic: Will $50,000 be the resistant price? - page 6. (Read 964 times)

^^, Yes cmc shows the price at $50,045,00. But I'm still not confident though that we still have the push to go to $51k-$52k, although the volume is good, but for sure trading bots are going for a sell-off when this barrier is reached.

The good thing is that we still have a full month to get over the $50k. So let's test it again throughout this month, if there is just one positive news then $60k is possible at the end of the month.

Been breached today, above $50k, so lets see how it will maintain this price, either we sustain or we will have another minor dip after this big psychological hurdle has been attained again.

I doubt that Ethereum is signalling this rally, on the contrary it should be the other way around. We may have some good news today that prompted the market to rally to 5% increased in the last 24 hours.

There is an area of resistance (former volume greater then daily trades) not a singular price & also a measure of momentum + pattern trends that result in our failure to move upwards through 50k.  It has to be a combination of all these factors I believe hence why we swing about so much and it ends up being so confusing but the world is a big place and nothing is traded quite like BTC on every second of the day even FOREX prices arent actively altering trade in that way so this is unique.
   Here is my view of current action in a more macro view, its only weekly bars but I prefer the birds eye view without the constant noise of over reactions:


From what I know of any market is weekly bars will take precedent over small time frame considerations so I repect the largest common pattern I can find and the more points we touch in this pattern the greater its significance.   So the uptrend was important, for 5 full weeks we resolved to rise higher thats really bullish but we are outside that trend now.  So I've drawn in the negative trend and Im very interested now to find out if we hold this declining ceiling till we bump our heads and fall in a more negative way.   200 day average underlines our recent lows but not the close, hence mostly we can say we go sideways.

Many are speculating the price of BTC, the ETH Rally may have triggered more confidence in the investors, at this time any speculative-style assumption can occur, now in this article they reference the following:

Is Ethereum’s rally signaling the next bull market phase for Bitcoin above $50K?


Source: https://cointelegraph.com/news/is-ethereum-s-rally-signaling-the-next-bull-market-phase-for-bitcoin-above-50k

For now the most psychological price is $ 50k, and it is very close to being reached, some of the investors are seeing that through BTC it gives them more confidence to enter all the alts, in this case ETH is the second most important currency after BTC.

What goes up will definitely goes down and this had been always or should a thing on most people heads on where they should anticipate on what would happen next and this had been a common behavior.

Once we do hit a particular resistance level then odds of some rejection or pullback is likely to happen unless if there are more positive triggers then it could really break the price without any problem.

Its just a matter of demand but if the market had been a bit quiet and movement are on gradual phase on a long time being then it is likely that it would really be having a hard time.

If you see a sudden drop after a huge spike and then a stays calm at a level for quite some times, then yes that's the sign of ready to take off and the sign of not going back again. I mean, when the coin price stays at a level , it ill grow up in near future. When there is a huge demand, the price stays stable and grows up. This is what I have experienced. I hope BTC will again be at $60k to $65k by either October end or November 1 st week. Lets see.

I do believe that 50k is a psychological breaking point and not a real resistance point, we could pass that a lot easier if people just believed that we could but whenever we reach those levels people at as if that is the most amazing achievement and we could not do more and this is it. In reality that's not a big achievement, we are at 47k right now, that is just like 5% increase or something, maybe a bit more.

We should not be really getting super excited about an increase that is not even 10%, so how come then price drops as soon as we hit 50k? The first thing I said, people are acting as if 50k is a big deal when it is totally not a big deal at all, nothing different than 49k or 51k, 50k is same exact thing as those but people react differently to it.

You need to understand that even if the price of 50k is in theory not special at all at the same time psychologically speaking it is really difficult for people to ignore a level like that so it is proving to be difficult to break, many people are also predicting that the price is going to go down and this means that they are selling their coins making more difficult to overcome that level, but sooner or later we will do it and as such I am not really worried about what is happening in the market.

The price briefly just touch the resistance at $50K and retraced, I think the resistance was a strong one with reference to daily timeframe of BTC/USD there had been renouncing off that resistance in the past, however with some positive fundamental news e.g adoption of bitcoin by a reputable and well known organization, massive buying by the 'whales' might trigger the bullish sentiment to break the strong resistance else the price might continue to range back and forth movement between $46K to $49K. I hope the price would not dump to the support at $40K else the chances of the price hitting the $60K or more before the end of the year wouldn't be realistic because we are already in the last quarter of the year.

Then why does Bitcoin did not make a Going to up much since the 50k resistance was broken weeks ago? proven that bitcoin harder to make that high yet dumped again below after 3 days?
there is no proof that if the resistance is hard to take meaning there will be a great hype as this had been shown many times before.

Only swing or short traders would really be selling on that point and seeing that price level which does have big sell order which i dont really see this resistance to be break anytime soon but

lets just not put aside the possibilities about sudden breakouts which did happen countlessly on this market.So everything is always on the watch and only to those people who do took

risk will really be getting advantage or profits once the market had really showed some good movement. Resistance level is on +10000 increment which considered to be always on that point.

That's expected on $50k people will be taking their gains at this certain level of predictions, to provide reasons I guess real time situation will always prevail. I couldn't give the precise value for now, I just go on with what everybody been taking of. Hopefully we will surpass $50k when market fully break the resistance.

Honestly looking like it really is. With the drop that we are seeing right now, we could easily say that it is definitely a resistance point, whenever we get near it, or get over it, there is a drop and looking like how the market is all red today, we could say that it is a bad day, not a lot it is just like 1% which could go up in an hour, but that doesn't mean that it was a good day. Hence I believe that 50k is definitely a resistance point.

However I do not see it as a problem, bitcoin faces resistance levels all the time and we end up breaking over it very easily, which means that we will go over 50k as well. I do not know when that will happen, but I know that 50k+ is a given and it will happen, 60k+ as well and even more, we know that it will happen and only thing we do not know about is when that will happen which is the big deal.

In BTC the efforts to raise the price towards $ 50k are still underway, for now the bulls have not been able to do so, however the price level may continue to increase as they eliminate the offer between $ 48k- $ 50k, for now the price is around $ 47k:


Source: https://cointelegraph.com/news/price-analysis-8-30-btc-eth-ada-bnb-xrp-doge-sol-dot-uni-luna

Well the expectations for BTC are very high, it is expected that if it passes the level of $ 50.5k it is likely to see the price at $ 60k, that is something that is not bad, I hope that movement can occur.

$50,000 might be a psychological barrier but just like when it jumped to 60k if there is enough rally behind it 50k won't last all that long.  I don't think we will see a run up in the short term as the world sits and waits out the pandemic, unease still exists which I think is the major point of resistance right now.

Well, it seems that it is right now the strong resistance of Bitcoin.

Bitcoin tried once to go above $50,000 but got rejected immediately forming a false breakout. Now Bitcoin is at $47,000 and I think that it will move sideways for a few weeks between the $40,000-$50,000 price range. It really is hard to predict where it will go but as long as Bitcoin remains above the 21 Weekly Moving Average, the bulls are still in control of the market.

Well, I guess it is now since Btc have a hard time bouncing back to that level.
Even If breaks $50,000 again, I doubt there will be another short pull back down to $46,000.
As per CMC Btc had a $50,000 day high once and didn't touch to that level again.
Infact, $50,000 could be considered as strong resistance.

it seems not only last night that bitcoin experienced this, bitcoin has broken through $50K several times but finally had to go down again, this seems to have become a natural thing for bitcoin if there is no movement to continue to penetrate $50K, it will happen like that. but if the upward momentum has occurred then there can be no holding back and bitcoin will continue to move up past price resistance and will be able to reach renewable ATH.

it looks like it hasn't happened yet, estimates that bitcoin will start moving when it enters Q4 which will soon begin, we are waiting to see if it is true that bitcoin is able to do that because if it doesn't happen, then reaching its best price this year could be delayed. but it's also very unlikely, I agree with you that $100K is likely to be reached by the end of this year.

Even though Bitcoin is still under $50k right now, this is only temporary. Because I agree with your prediction that Bitcoin will reach a price
above $50k in the future. That's something that really doesn't need to be doubted, if we look at the popularity and demand for Bitcoin continues
to increase. This means that Bitcoin will continue to rise in price, we must not forget that the price of Bitcoin has reached the ATH price
5 months ago. So for the Bitcoin price to rise again above $50k it is not a difficult thing to achieve, but we do need to be patient to wait for
this to happen. Sometimes Bitcoin does need to be corrected several times before it can go higher, I even believe in this year Bitcoin can reach
another ATH.

there is a very tin line that Bitcoin will down fall back to 20k below unless there is a much shittest phenomena that will happen again more than Pandemic of 2019.
50k is near to come again , we have been on that trend last week and now playing at 46-48k so at any chance this will be broken again.
you must not buy at that level if you are aiming for short term lol.

this will be a failure on your part as 50k is the barricade now.