Bitcoin Forum

https://imgbb.online/images/2020/05/17/IMG_20200517_062609_534.jpg

BTC_update. BTC now-9397                             Let's have a quick description of the above setup.

1) First, we have the higher low which we mentioned in previous update
2) Prices are now trading below EMA10 and we have decreasing trading volume , going lower and lower.
3) A recent rejection of prices while they tried to move and close above EMA10.
4) We are seeing long wicks pointing down.

It could but as we see, it's going the other way. I'm also reading some TAs that's saying the same thing but as usual, bitcoin is hard to be read so for holders like me I don't usually look to the short term. There might be an incoming dip within a few weeks but this was expected right after immediate the halving but it seems nothing has happened except it's holding on to $9300.

I'm firmly holding and visioning the long term.

After the strong growth of Bitcoin, I believe it will soon collapse again. The price of BTC is sideway to wait for more fries to buy bitcoin, then they will kick down the price of bitcoin again. Bitcoin halving is usually like that, we should set a lower buy price for bitcoin and wait. Buying BTC now is a pretty risky decision.

We have noticed that, unfortunately the price of bitcoin drop after halving. When pump was expected but not happened (maybe it's going to show effect slowly). But it's quite tought to predict about bitcoin price. But more possibilities to drop from current price

Don't know how you can do any trading with a chart like that, its impossible to see the candles properly.  Regarding your analysis the decreasing volume doesn't always mean anything. Sometimes it means a reversal will come and sometimes it doesn't. Look at the daily and what happened when we engulfed the 8K area a few weeks back. People were saying that its going into resistance and volume is trending down and they shorted the $8K area and got wiped out pretty bad.

Right now as long as $8700 or so holds then I am pretty sure we might get a $10K retest and maybe break the $10.5K price which was the resistance made by the Xi pump and the high of Feb 2020 before all the coronavirus mess started which made all the markets around the world reverse into bear market territory. Right now its not the time to be bearish.

Your chart is messy in my opinion, I can't see what analysis you said above. Regarding about bitcoin price, we can't predict what will happen, mostly what we hope and predict is going wrong only. It's why many trader is lost his money than get profit

Rising on declining volume and OBV divergences are usually seen as bear flag behavior, but BTC is more unpredictable than most assets in this department. Something to do with its lack of liquidity and tendency towards FOMO and panic.


It's a fine time to be on the sidelines, unless you're long from much lower. Potential is building for a big move in either direction. Bulls seem very confident, which makes me cautious. The daily and 4-hour price action is admittedly bullish, but until $10.5K is broken, I'm not convinced.

I've been here (long term downtrend, right below huge technical resistance) many times before, and it's a dangerous time to be bullish too.

It could be happening because bitcoin will always adjust the price to the lower price after reaching a higher price. That will happen many times, but we don't know how deep the price will be down. But the price will be back to the high price again after the correction is finished, and that can reach another higher price. We need to analyze more to find a good time to enter the market so we can take the benefits of the market.

I have the same feeling here. I think that in the next few weeks we are going to be seeing the effects of the self-fulfilling prophecies as the market is expecting that there can be some dips post-halving. On the same vein, people are expecting that towards 2021, Bitcoin can be accelerating greatly. Bitcoin remains a very elusive type of beast, and we don't really know what can be. So we might as well sit back, relax and just enjoy the ride.

How many post like this will need to create before people finally understand that speculation is the reason why market keeps on falling because too many false thread that let others to misinterpret .
That is how can we determine about the health of the market and this also the reason why we are investing here right?

Yeah, most of the time volume can be view as a confirmation or rejection. So it has it's merit, but we all know that bitcoin is very different market, could trade sideways and then have a breakout in the next couple of minutes.


I guess we are still somewhat in the post-halving bullish trend. We went as low as $9300 but it seems the price bounce back very quick. Conversely, right now it's not the time to be shorting BTC.

it doesn't matter if the price of Bitcoin goes down, we have started the Bullish Season, if you trade on the Spot maybe you don't need to worry, but for futures trading it's very important for you see

Might be but Verily posiible to increase slowly as a Consequence of halving. Btc still standing upto $9800, a very good position. No major impact of corona is noticed. So verily posiible to pump soon and holding btc is better Choice

Looking at the current price we have bitcoin moving upwards not downwards, this is another one of those days when "bitcoin does what we do not expect" type of movements, sometimes you expect bitcoin to do one thing because something happens, and everyone watching bitcoin to go to that direction, and even some small timers start moving that direction, then bitcoin does exactly opposite of what people think it will do.

I have an idea why that happens, I think that happens because of whales because whales see people expecting one thing and they realize that is exactly the time they could make a solo move without other people contributing and that is why they make big trades opposite direction whenever you expect a move, to stay solo and be the only ones that profit.

Bitcoin is really standing strong.

I'd say we're going up from the low in March and had a nice bullish breakout in April followed by a small crash that was stopped when traders were saing that it's the end of this pre-halving bullish phase.

We did not come back like a dead cat bounce. It looked more like the strong demand brought us back where we were suposed to be which is above 9000 dollars.

I doin't get why OP is looking at 4h. Most people look at 1d and that's still looking good.

Bitcoin is very unpredictable in the next few years but it is always the best investment. The crisis of other markets doesn't seem to affect it, the uptrend is still dominating. You are having a wise accumulation every month, which is very good for the future.

This is still a prediction, however, after this prediction was made, the price of bitcoin has strengthened and is approaching $ 10k. in fact, if many people use bitcoin, and mining is slow, then the market will be the main place to get bitcoin. just thinking about this, I feel that the price of bitcoin will increase. Well, I agree that what we see is a vision of long-term development. if there is a decline in the near future, then I speculate that there will be a big recovery after that.

Ever since then the volatility works like a magic and this is how great bitcoin is but what I love the most about it compare to stock is the volatility is fast and if you know what to do you can provably earn with it on faster way, and since the upper trend is dominating right now we should act wisely on it, But you are wrong for thinking that the crisis doesn't affect the market since actually if there's no bad incident like that happen provably we will see the bitcoins raging faster.

It could be, the decrease of trading volume will be the most noticeable when talking about the possible drop. People are still following the halving trend wherein in a span of 6 or so months after the halving the price tends to slow down a bit before it will initiate a good run.
Nevertheless, the chart is showing some strong signs of the possible Bitcoin drop. It will be a good thing for those who wish to have a good buy.

Excuse me, do you have data on how much is the trading volume prior to the halving?

I did not monitor the trading volume actually as they could rise and fall anytime, but look at the price of Bitcoin now, if it will dump, it should dump right after the halving schedule, but then again it stays close to $10,000, so I hope this time around people will LONG BITCOIN.

How many indicators are you using? it is really hard to understand what the chart is. Simplicity is the key to mastery in trading. In my own analysis, the price is currently consolidating with a bullish bias between $9150-$9960 per each. If there will be a breakdown then considered that the price may drop but the good thing is there is still no breakout and breakdown that is happening. The price is currently trailing at EMA 20 and it is good for me as long as the price is above EMA.

Bitcoin price is already down before, and now, the price is going to increase again as we see that bitcoin price can break $9700 level, so I hope that the price will become strong to break another higher price. But this moment, it needs more analysis to predict where bitcoin price will move because we still don't know what will happen with bitcoin price. There are many possibilities for bitcoin price to still increase to the high price, but the price will also have the opportunity to down to the lower price, so be careful to buy and sell bitcoin. Perhaps, the next target for bitcoin price to reach is at $10k.

Bitcoin has given a good recovery run before halving. Now there is a possibility of a correction, this kind of correction happens before the next run starts. Another correction means another chance to buy more bitcoin. If you look at the trading volume of Bitcoin, you can see that the volume has decreased a lot. But you also have to see that now the weekend is going on, and the volume of bitcoin decreases every weekend. So let's wait and see how the market reacts on Monday.

Yes, for 2021 a lot of speculations come out which are full of hopes for that year and I'm also going on for that year. Whichever goes first, this year or 2021 or the latter which will show bitcoin's bullish side again. Most of the people look for the higher which bitcoin can than the last bull run.

It's all that we can do while waiting for that day. Enjoy the roller coaster, ups, and downs, bulls or bears, anything for the gain, and for the loss, it's all that we got. Buy, if goes down and that's the counteraction that you must quickly do and everyone knows it.

When there is a decrease in the volume of bitcoin, know that there is also a chance that bitcoin could potentially go up as well. Because if there is less volume that means there is usually less liquidity as well, so what you can do with X amount of bitcoin/dollars is much harsher when there is lower volume compared to having a huge volume where X means nothing to the market.

In this case, if the volume is low, and someone puts millions of dollars worth of purchase on bitcoin right now, that means the price could increase very fast without anyone touching it since there isn't enough volume to stop it. This doesn't mean it will happen, the drop could still happen, I just wanted to point out that there is %50 chance that it could be towards downwards or it could be upwards.

Currently I got confused, in one side I'm the bull market will come because the halving event will give a big thing for bitcoin pricr movement.

But in the other side, I see a bitcoin's graphic hash rate and it is down almost everyday. I just preassumed that the miner is no longer get a profit from it unless bitcoin is high again.

Sometimes the volume is usually interpreted as small bullish traps, the price may go backwards to generate a pull back, if this happens, it is likely that they are testing the price levels already between $ 9.3k and $ 10.5K, perhaps the offer will start there to decrease due to Bitcoin's Halving effect being in Hodl mode.

Its expected matter when halving cames but by looking at the events right now maybe we can see it struggling since we are in not good shape on economical aspects, It's sad to see the halving occurred when there's a pandemic but I'm still looking forward on it since many still think good even if there's a threat surrounds on it.



Yeah that is the side effect of it and I wonder if transaction speed will decreased since miners are slowly pulling out their rigs since their business is not profitable anymore.

I was expecting that dumps to follow as Bitcoin price moves high in the past days. We can't ignore this thing but consider this as a normal event that comes in crypto. We are just in a few days after halving and quite good to see the market slowly getting high but it didn't give me the confidence to think about Bullrun at this early.

Bull run faster than expected it seems impossible even in difficult situations like now of course the price is weakening is normal and indeed, things like this are normal because even these fluctuations will continue to occur in the next few days that will not show resistance higher. So I think even if the drop happens, it still won't touch the bottom because this is a normal cycle and there's nothing to worry about or something else.

Instead of analyzation, I found your chart as confusing. It will really affect your future decision.

There is no way we can see what will happen next. The current indicators only tell us on what price level that the buying and selling hits their strong point.

If you are a short-term trader, it's really risky to just give you advice coming from us.

Honestly the ceiling at 10k looks too obvious and the resistance repeated this many times, at the very least I think we must get a fake out upwards before then dropping.  So we can go as high as 11k especially on a nice pin upwards before forming downwards on a weekly close.  Thats what I expect really, I'm pretty determined not to draw in 10k itself as resistance but I do have a trendline we've hit previously.

https://talkimg.com/images/2023/06/12/A5KKZ.png

50 and 200 day averages are nearly in the same place below, quite probable we can return there before month end even.   Also trend matches previous highs, if we repeated that action we'd near to 11k on this occassion I guess.  If we were to move down without breaking above the previous high then it should be taken as more bearish then otherwise I think is fair.

His system is so confusing, there are a lot of indicators that he is currently using that can gave him a misleading confirmation. The current price of the bitcoin is now near in its current resistance and if there will be not enough volume expect a bounce that will create another swing low. We can do short selling as long as the price will resists in its current resistance. But if the price will go above it then it is good to do long position.

Based on the psychology of manipulators, I do not think that the price of BTC will decrease now. Currently the Short ratio is higher than Long at a lot of margin exchange and this will cause the whale to manipulate again. they will fake the pump or push the price of BTC to $ 10k5 or $ 10k8 to lure the prey. when the crowds thought it was uptrend, it was time for the whale to sell off bitcoin and crash the market again. so the short-term trend is still up.

One thing what is happening now is that it will test 10k levels and from past few days it is hovering in the range of 9500 - 9800$ mark and might be waiting to break that 10k levels or may drop a bit it seems. If it breaks 10k levels psychology will change for many investors and I see some of the new investors may also joining this bandwagon.

I also see that $10k level is a good indication for new investors to join the market, there are new investors who are in FOMO and just looking for a sign or indication before coming in the market, the pandemic will not stop these investors, they just want some sign and the $10k level is a good sign for them

The logical sense right now is to long bitcoin, but still we see the market going down every now and then and there are reports that big time financial investors are investing in bitcoin whenever the price goes down for the past two months and if traders are treating bitcoin as a short term trading opportunity then they will miss out when the rally begins, we have seen that in the past and we will hear again that some missed out on the rally.

If the price goes down, i will be glad to see that as an opportunity than worrying as i am not planning to sell for the next one year.

Traders usually do short term trading, however, I also believe that they see the potential of bitcoin in the long run, so I guess they will not miss out as for sure they have some bitcoin investment for long term, and let's say they are just doing short trade I can still say that they will be profitable even if bitcoin will rise, as long as bitcoin will remain highly volatile.



Same here, I have already convince myself after witnessing a lot of market volatility in the past that bitcoin will survive, therefore it it will dump, it will surely bounce back strong.

the price has dropped to $ 8,800, I don't know yet if this will drop again to $ 8500,
if it really drops to $ 8500 it seems good to buy at that price

If I'm not mistaken, it drop as low as $8600, but we have recovered, around the $8900 levels today.
And the volume is around $30 million, so it looks like it has been weakening as I observed that we are somewhat around $40'ish million when the price is really going up. Significant drop, but I wouldn't be to concern though.

This has happened in the past, and I think that $8800 is a big support from traders so I'm not expecting the price to drop this week and we might see it getting above $9k again.

And as we speak bitcoin is going green again about to reach the $9k mark again. I don't think we new thread every time there is btc drop or btc rise. Can we just check the wall observer thread in terms of btc developments in the market? Just my 2 cents here.  :P

Really thanks for your analysis. Just when I was confused in analyzing the price of bitcoin, I read your article, I used the trading view to analyze again and felt the price of bitcoin would go down. I have open short x25 and now I have won 500 prices. Hopefully in the future you will create more analysis on bitcoin to make everyone more profitable.

I hope you can still be careful because bitcoin price can go down again. You should know when you should close your margin trading because if you miss something, you will lose your profit, and that can make you wait for a long time to see bitcoin price will increase again. Besides reading on many threads about bitcoin price analysis, you should have your own analysis, so you don't just depend on other people analysis. It is important because you don't make your analysis and only depend from other people, you will feel hard to know when to enter the market.

As expected all the time and that is volatility means. The ups and downs aren't new anymore and the sudden market change will be depending in the market flow. From $8k to $9.5k, then it goes back down again to below $9k.
In this kind of market volatility, we can't expect all the way at rising nor to see a continuous dump as well. This makes people think that crypto investment is a very high-risk investment and truly we can't deny that. Thus, if we can't adjust and adapt to the system, crypto investment is really hard for us and that causes failure in that case.

I am really scared of panic sellers now, if BTC drops more than 500$ many of them change it to USDT. To be frank Even I have did it because I don't want to lose my money but now it looks like the price will drop slowly here is a genuine example of volatility.

Now it's time to stay calm with the investment and wait patiently till the market recovers.

Someone says it will drop down to 7000 soon. I don't know if he's right about that but if the market does drop then it drops. The one thing I hate about this  sudden decline of price is that it happens when I need the money the most.  The BTC I kept for money lose more of its value just in time when I needed the cash. Really made it easy for them to accumulate cheaper coins.

The current decline in bitcoin is slow but I don't think it will fall too deep seeing the market is likely to remain unstable, but in my analysis this decline will not be so long in the next few days bitcoin can redeem again to $9,000 in the near future provided that Don't panic about this sudden decline because this is common in bitcoin prices.

Indeed, at a time when money is needed the price of bitcoin is falling and when it goes up it hasn't had time to buy at a low price so this needs to be evaluated again so that it can precisely determine it.

It already did a bit of a drop but the buyers didn't allowed it to continue for a long period of time. I think right now the price is stable, sure it could make a move to any direction but right now it feels like it is going to stay here for a while. If you want to know what is going to happen in the future nobody could tell you what will happen, they could do TA or research or read news and see what is going on etc etc but there is no way we could totally know.

The drop started with some guy who remembered his password from 11 years ago and sold 50 bitcoins, that caused the price to go down 500 dollars alone, so we could never foresee stuff like that in the future. But I can say without any big news or moves, the price will probably stay like this (give or take a small move) for at least 10 more days.

You jinx it,  :) the price didn't reach $9k, still in the $8800k mark, but as I have said, it has a big support so probably since the Asian market is now alive as it is morning there, we might see another movement and will attempt another push to $9k so let's see.

Off-topic, if you think though that there are so many threads about the price drop/rise, then you can report it to moderator. And as far as WO? of course you can visit that thread, as I have said in the past, that's my go to thread in the wee hours of the morning.  :)

cant relate on other talks but i totally relate on the time when we need money or when were about to recieve our btc but the problem is the value of btc will drop  but the drop didnt happen on normal days   . that sucks and strange at the same time   .  we cant stop btc drops but i guess lets just go with the flow  but to others , dont follow what i do  ( selling at loss )    . if you dont need the money asap just keep on hodling and everything will be alright soon

We cannot it from drops but what the most important there is we ride on what's happening on it since if we just keep waiting and waiting without doing nothing then I'm sure we will regret once the price will take a great leap. But selling at lose doesn't mean your lose totally unless you closed your pocket and leave the platform, but if you do a cut loss and buy on the dip then a high chance for you to recover and earn when price suddenly surge.

The retracement of the price already happened so expect that the price may now go up again, there is a currently breakout that happening but I do not know if it will become successful or it will be just another fakeout. The market is now so volatile so proper risk management is very important. The breakout is a sign of strength so the possibility of going up is higer and it is the reason why we should expect another rally.

and now your right because we already passed the $9,000 value and now we are almost at $9,200 and still counting up https://coinmarketcap.com/currencies/bitcoin/ with 4% growth i think  this is enough to see that we are recovering again and maybe this time it is for real and we are heading to breaking the 10,000$ price and now we will stay for long.

hope can at least jump to 12k?do you think this is possible now?when we have not taking 11,000 position this whole year.

This is only short term but its putting in a hammer candle on the 4hr bar.  I dont think its dropping right this moment.   However I think it will cycle through once again within a range, if it goes as high as 10,000 or higher it will upset alot of people who were counting on negative action to occur right now.   Typically BTC wears everyone out dodging every guess and any attempt to hit it with a short.

https://talkimg.com/images/2023/06/12/A5185.png

I think today was bull for bitcoin. With close to $500 gain or more, it looks like a bull run is building up. We might see the hammer candles appearing often either reflecting panic in the market or indecision going on with traders.

The market has really recovered! Bitcoin was back to the price before the Covid pandemic came. It is now trading at $ 9k4, which is seen as a strong growth from the deep bottom. But I think now the price of bitcoin will be down soon because there seems to be no Fomo bitcoins anymore. Like previous halving, bitcoin has to collapse again before the pump is strong. We should place buy orders at lower prices and wait patiently.

Yes, it is. That will be a nice profit for people who can buy 1 bitcoin. I still hold some amount of bitcoin after I sell some at $9,523, and I want to wait for another high price which can happen today or tomorrow. It seems, at the market, there is a battle at the buy and sells order (or that is bot ;D) because the price is moving so fast than usual. That makes me worry if the price is down again :-\

I don't really think there's a bot doing that but for the fact is the current movement of the market is move maybe there are big whales who do a day trades on it and earning with the flow I see so many people doing this so maybe this is the reason why the market is not stable, But since halving is here I'm not worried for a big drop since we still have it as basis since it already brings hype but maybe the one you see a drop is short term and that's normal so ride with it to earn on bitcoin volatility.

now the decline is an opportunity to buy, Bitcoin has entered the bullish market,
so I think if you sell Bitcoin at cheap prices you will regret if Bitcoin goes to the moon  ;D

There is no way bitcoin could go down forever and stay down, it will eventually go up and that is why when you see it dropping down you should buy. This time around it was a bit different than previously, because this time around it recovered faster which means some people did actually sell but there was buyers waiting for it at least.

Many people think that when bitcoin is dropping down they fear even more dropping down and they do not buy it. When it goes up they think it will go up even more and buy it. They should do just the opposite. We can see here that when price went down, everyone was afraid and they were talking about how it would drop even further, a great example of when you should buy turn into when people actually sold.

I think the next week will actually confirm a strong volatility because the few days to the end of this trading week has been dull. Yesterday and today especially have been dragging for position. At the opening of next week, we might see a volatile pricing.

An increase of almost $500 in a 24hr time frame doesn't automatically signifies a bull run. There should be a continuous upward movements everyday. Regardless of how small the rising percentage could be as long as there's a daily progress, it can turn into a bullrun.
Remember, we once have experienced a $900 increase in one day this month, but didn't hold or even broke the $10,000 barrier.
Imo, I don't call it a "bull of the day" when Bitcoin pumps above 5% for a day or two. More likely It's just a dead cat bounce when it starts going down again.

Maybe yes and maybe no. You haven't explained why exactly the next week should be so crucial.
Anyway, price drop is always possible as well as price rise. However, for some significant price change there should be some circumstances and some trigger that would initiate that. At the moment I'm not aware something like that is coming next week but Bitcoin users should always be prepared both for positive or negative price changes.

It looks like the price of Bitcoin is still safe in the range of $ 9000,
seen now it's been a few days Bitcoin is in the zone, weekend also does not affect

After the halving, we have been seeing a minimal kind of movement that isn't really changing much of prices. A little up and down. The range of price is still around the 9,000 true but expect more run maybe up if 9,500 gets broken.

Almost all of us have witnessed the drops in the past days but glad to see it going back high slowly. Now, I was thinking of $10k resistance and if we can surpass that price, I strongly believe for another market strike this year. We are not too far from the halving event but quite to see that that the market keeps in good shape even though we are likely stabilizing at this range ($8,5k-$9.8k). Even we got to stay longer to this position, I feel no disappointment, in fact, we might be thankful enough because amid the pandemic but crypto market still strong unlike what it happens to the stock market and other businesses.

Bitcoin price crashed down into the $4,000  because of the highly leveraged nature of the cryptocurrency market and the unwillingness of buyers to step in amid extreme volatility and uncertainty. cryptocurrency markets comes amid a broader sell-off in equities as governments worldwide continue to grapple with the new corona virus that's spreading rapidly across the world.

Im not leveraged long, I only have a few leveraged shorts as it turns out but net long anyway.   But that spongy nature to speculative positions can apply in both directions, I think there is a base holding of BTC that doesnt sell off so easily precisely because these prices fly everywhere occasionally.


There has been a good trend since March, dont think that has failed yet just we have risen so long we're back to the struggle that existed in beginning of the month.

Bitcoin's price to drop to as low as $6,500. In the third quarter of 2019, Bitcoin's price dropped from $10,500 to $6,410. Bitcoin price crashed down into the $3,000s because of the highly leveraged nature of the cryptocurrency market and the unwillingness of buyers to step in amid extreme volatility and uncertainty.

So dangerous for doing long by now since situation is not yet definable and I can't even trust the current flow since provably we will be trapped for some certain situation, maybe I think the safest timeline for us to tell the faith is when the crisis ends since provably we will see some good insights on when is the good entry by that time and proceed for long trades, for now I'm with you on short leveraging since this is more quite safe and decent.

Yeah, you have made two comments with the same essence. Seem like you didn't read all commenting here and just click the reply, it is worst mate.

You may need to recheck before you made a new comment/thread in case there is a user who curious to your opinion and they want as something to you.

Right now it looks like the price is not dropping at all, if it was it would have dropped already. Look at the prices right now, the market is very vulnerable since the buyers are out of money and they are not making it go any higher, plus the support is weak as well, so if the sellers wanted to drop the price all they would have to do is sell about 10-30 thousand bitcoins right away and the price would have been $6k as well, use some short futures with leverage on top and we are talking about tens of millions of dollars in profit for them (which they did during $10.2k to $9.2k period) since they are not doing that when they can, that means market is not looking bearish at all.

We are just waiting for the buyers to recover and when they have enough money they will once again increase the price.

I don't think so, I am sure that the price of BTC will continue to move upwards and can break through $ 10k by mid 2020. BTC is experiencing significant price movements and is affecting the rise of several altcoins such as ETH, ADA etc.

The present indication in the Bitcoin chart does not have any traces of dropping in the price unless any negative News comes in. Year 2020 might be the greatest year for Bitcoin

Currently, the Bitcoin price fluctuates between 9250 and 10400. Strong resistance is very close to the current price. Looks like the price drop hasn't weakened yet. Now it is better to not take a new entry until you get confirmation of breakout or coming down.

I agree with you, maybe this is also heading to the altcoin season, dominance BTC is now weakening, and looks down,
and some altcoin pump up to 100%, still watching  ::)

feel that the price of bitcoin will dump will only make us panic, and afraid of making decisions. until now, the price of bitcoin does not look like it will fall below the price of $ 9k, in fact, there is a high possibility of going up. I just feel that holding the bitcoin that you have right now is more appropriate than selling it because of dump speculation.

I think holding bitcoin now will be a disaster. Do you see the world is very chaotic? In the US there are too many problems that need to be addressed. The political situation was quite large in protest, the economy was heavily affected by Covid-19. In addition, the widespread protests made the case in the United States increased dramatically in 2 days. It is expected that in the future, the entire financial market will experience another strong sell-off. Please be patient and wait to buy cheaper.

All of those factors are seperate to the dollar which is used internationally not just in USA.    If dollar is weak as it is deliberately made right now then BTC probably doesn't drop that much, the idea of economic recession causing weakness in pricing is partly from contraction in the economy and a harder currency policy during that time.   We arent seeing that as money is being produced even while GDP might be dropping, the most obvious sign is lower interest rates.
 
https://talkimg.com/images/2023/06/12/A5tWT.png

Its strong so far on the chart, above most averages and only failing to move higher just sideways is any clue of weakness or tiredness in the price.


When it rises this strongly, I agree but Im not sure the sell off will be as strong second time around as was seen in March.    I was thinking a pullback to the 200 day average would be fair but so far none of the action has come close to even a threat to do this.

Bitcoin trading volume drop shouldn't happen right now, during the market shifts always the trading volume increases in the case of bitcoin. The price drop will be a very rapid one of we get the rejection now at the resistance level, the support at $9500 level can also break after the rejection which can cause further fall below $9k. And many of the technical analysts are also saying that this is the most crucial moment for the bitcoin price, if it goes up then $15k is easily achievable but if the downtrend starts then $5.7k is the next level to look for. I am hoping that the pice would only go up, fingers crossed.

It all depends on what will happen in the future and what people will think of whats going on as well.
You have separate those two things, whats actually happening and what people think about it are two different things.

There could be something awesome going on but people may look at it and not believe it and get scared and sell when everything looks great or maybe the market is horrible but people look at it and see potential profit there and suddenly start buying as well. That is what I think happened with bitcoin in the past 3 months as well, it dropped like crazy but instead of seeing it as a scare, people saw it as a chance to make more profit and they bought a lot of it increasing the price. So we need these two data to decide, what will happen and what will people think about it.

Bitcoin Predictions this downtrend of Bitcoin should further deepen in 2020 and the bitcoin price should on average hover around the 8k$. BTC will smash through 20k when it does in fact go mainstream.