Bitcoin Forum

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If you are a long time holder then it's 1 BTC = 1 BTC :-D

Anyway, I think it does not matter if it breaks $9,270 and fall all the way to below $4k or see a new ATH as long as you are not a short time trader.

Here is a weekly chart and I do not see any immediate danger yet.

https://i.imgur.com/77KCBcW.png

@eskider first of all this thread belongs in the speculation section so I would recommend you to move it there, secondly a drop of $200 is not a major reason for us to worry, as we have seen drops of $1000 and yet we haven’t sold our coins.

@Royse777 you’re absolutely correct that if one buys bitcoins then they should hodl it for the long term, and further they should not be effected by the short term fluctuations happening in the crypto market.

Source:

https://www.forbes.com/sites/oluwaseunadeyanju/2020/05/11/bitcoin-halving-unlikely-to-drive-btc-price-higher-in-the-short-term/#623f74595bf0

the same thing that has been for the past month or more.

price goes up to $10k then comes back down to $9k then goes back up to $10k again to rinse and repeat. sometimes the weaker hands get overly excited and price goes outside of these bounds (a little higher or a little lower) for a little while but it comes back inside the range again.

The bounce back from $9200-$9500 was the trickle effect of this news, Stock market recovers after Fed announces it will buy corporate bonds (https://www.washingtonpost.com/business/2020/06/15/stock-market-economy//), maybe it was just a coincidence, but I do believed that it has affected crypto market positively that's why we have a recovery. But after that the price is neither bullish nor bearish. So obviously, if there will be a break-out run? hard to see where it goes. It could go on another fake out to 5 digits or go down to $8800'ish levels.

It's still too early to predict what's gonna happened next about BTC. The 9270$ support is not that strong and also the selling power was weak too as you can on the volume during that particular timeframe. This volume will become more thinner and the next strong move will be the deciding factor to determine the current trend. If we look on the graph with a daily time frame interval, It looks like the bulls are really exhausted and can't break the 10K barrier.

I'm a daily trader so my observation is for a short period of time. If you are a long term holder then worry no more. BTC will increase price overtime. Currently, I'm very bearish right now.

It means nothing. Crypto prices at the moment are heavily influenced by what is happening in the wider world. We saw that huge drop once the CV19 took hold, then a bit of a recovery... and since then crypto prices have fluctuated depending on economic results and predictions, and government actions such as the huge stimulus packages.
Maybe $10k is still a bit of a psychological barrier, but really I think the most important factor is that world economies are in chaos, and we can't realistically expect bitcoin to be immune to that.

Not every figure is significant in the price movements of Bitcoin, $9,270 is not a support level as yet, the price has bee hovering within the $9k range, once going above $10k but without sufficient support levels it dropped back down, same way we have gone below $9k but the support levels were higher now in comparison and we bounced right back.

The drops is trading volume is keeping me on the bearish side and except we build up some volume over the next few weeks we could remain within the $9-10k cycle, or maybe it drops lower, I however don't expect us to go below $8k.

Bitcoin will move on to $9450 after $9200+ base on my technical analysis, before we break $10500 it's going to take a while because it's a huge resistance up there, we might be ranging in $9400- $9500 before we see a $1k jump in bitcoin price, this is just my opinion and not a financial advice

;D
Excellent explanation! I would add that a few Bart Simpson movements might happen here and there. This is it at the moment, good time to accumulate again within the 9k range. As for the rest, hold them.

I don't consider $9,000 as good figure for accumulation, I might be a bit greedy but I would rather find a lower figure than $9,000  ;D, maybe around the region of $8,000, for long term purposes. Though, If you're up for short trading, then I might say it's a good range.

Anyway, the price movement doesn't seem to be worth of worrying, as it has been moving up and down inside the $9,000 - $9,900 region. And the drop seems normal these past few weeks. It feels like there's something that's depriving Bitcoin to break loose of the resistance level. I'm not sure, but maybe the pandemic is one of the few reason.

Goes back to the 200 day average, right this moment its on the 50 day and held back by this area and even the MA itself because of the amount of traders we have within the BTC price.

https://talkimg.com/images/2023/06/12/A5X4P.png

I would already guess it is going to test lower but every push past lower just leaves it to bounce upwards and leave a candle with an icicle hanging off the 50MA but quite useless once it returns back above again.   MA isnt proper support or resistance so far as I know.
Objective down first is 8696, prior trend low since April

Feels even longer than that for some reason. And in my gut and psychologically, it feels like we're in this range repeatedly (minus all the fuss above 10k and below 8k). Quite a bit of shaking up macro wise too and it feels like a lot of gathering money waiting to pour in (or out).

I'm wondering if the 2018/19 purged weak hands are coming back to play though.

I am fine with that, even if the price goes down below $9,200 or $9k. That would be the best time to buy more bitcoin because I think I will not have a big chance to buy bitcoin at that price. But bitcoin price is now trying to break $9,400 although it seems, the price has difficulty to break, but I am sure that if the trend is up, that price will be a break, and maybe we will increase so high. While the price is not going anywhere, I think we need to break for a while and rest from the market.

Well, I do not believe these resistance numbers to be that strong to begin with. I believe it could go to $9k, and just stay there and come back up and move around freely like there is no resistance or support levels. At the end of the day bitcoin is too powerful to let it be controlled by those type of numbers and it can do whatever it wants whenever you decide to sell or buy.

Yeah, not you particularly but when you collectively get together and do something. That is why I feel like there is a reason why bitcoin never really stopped when going super high or low, from $10k to $3k it took few hours during pandemic, just few hours, and bounced back over $5k as well, in about 8 hours it did all of that. That is why I believe there is really no reason to believe in these support or resistance numbers.

I can agree that every dip is opportunity to buy more Bitcoins. Although I don't think that anyone would like to see Bitcoin price too low.
At this moment no one can really tell what will happen next with the price. It's possible that it goes below 9200$ or even 9000$ but I don't look at that as some big tragedy, it wouldn't be such a deep dump. However, I don't expect to see price below 9000$-at this moment.

I can easily see a return to 6-7-8 grand again. We're in no man's land just like the aftermath of previous halvings. There's not much on the horizon and there's still that world falling apart thing that hasn't fully hit yet. Everyone should go practice their backhand and pay attention next year.

I agree. In general it seems like too many people think this range is a given, and that the $9K area is sure to hold.

BTC is completely at the whims of the stock market. When stocks dump, so does BTC. When they recover, so does BTC. This Friday close in futures, wicking through the 20-day MA and failing, is ominous looking:

https://i.imgur.com/Trpbgd0.png

If Monday's low is broken, I expect BTC to follow with new lows. This will likely trigger a break of the $8,600 weekly low which I think will cause a big downside stop run.

It is somewhere to go which nobody knows exactly but I feel it never drops below $9k instead of blowing it back high again and soaring to $10k. The trend is somewhat pushing a little bit dump but after this, a huge pump comes next.
We don't need to worry about this downtrend, things that can't be avoided and it certainly will come that way quite sometimes.
I know people are also waiting for the market to dump, so this will be their chance to invest.

after the decline, the price of bitcoin is stable at $ 9300. I also think that if there is a decrease in the aftershock, the range will last at $ 9,000, or $ 9100. however, if there is an increase, it will survive at $ 9450 or $ 9500. so far, I predict that the next move will be price increases.

That's why we don't have to buy bitcoin at one price only because if we do that, we will lose the opportunity to purchase bitcoin at a low price. If we can manage the funds to trade or investing, I am sure that we will see a low price comes so that we can buy more bitcoin. I think the bitcoin movements now still can not predict as the price is down deeper than a few days or weeks ago. But I believe bitcoin price will increase soon, and no matter it takes too long, we will see another higher price again. If the price is down at $9,200, I will place my order buy at $9,100 or even at $9k.

I dont think its the stocks that crypto is bound to, its just that stocks are a fast reaction and indicator of sentiment and it all relates to monetary expansion most likely.   BTC stocks and a few other things react to more currency being available and in circulation for speculation.   Obviously QE is the process of raising bond prices, which is the inverse of bond yield so making money more easily available to business.   So that price is rising and so on, I think thats a large part of it and I do wonder what would be the price levels if we had never opened Pandoras box back in 2008.
   Whoever invented BTC had this as a background to their work at that time though it was coming either way, I expect QE policy to falter and stumble and that will show up here too.   In Zimbabwe they blamed stocks for the creation of inflation, it was the originator to them of the problem because it sticks out so much and we're probably being distracted similarly.

BTC is below the 50 day and though it seems to spin in circles constantly, it seems it must come back and establish a low now in some proper way before going especially higher.

$ 9100 should be strong support for Bitcoin right now,
otherwise we might find $ 8,000 or even $ 7,000 again, hopefully Bitcoin is strong

Do we really need to Post Bitcoin movement from time to time?you have been posting a lot and giving graphs but seems
 like nothing are going to final.

and Cointelegraph is just a click away from us so please just Put your thread if there are much to expect.


Just wee ago we almost step down $9000 so 9100 is not that strong support,and i think we are going down
bellow that 9k strong hold.

We can't tell. Who knows if it soar even higher than that price or drop to below 8k$ as quick as it used to be. But of course nothing is more secure and sure if you want to make earnings than bitcoin.

Looks like it is right there at $9.3k and nothing major is going on, I think market doesn't really care about the price points at this level, sure there are important ones but not here, this one looks a bit weak and unimportant. I can see bitcoin rising very soon, it has been idle for a while with a small decrease daily that is caused by constant selling outweighing the buying, however that means there could also be a huge increase, how?

Well, simply people who are selling right now could be going back to USDT just to buy all at once, you could sell your coins small by small not to disturb the market too much which could cause it to go down only a bit every day but not a huge crash, but after you sold all of them and you have all your money in USDT you could use them to buy all at once.

So, while you took the price from $10k to $9.3k during selling period you could buy the same amount but take it from $9.3k to $12k with a hype.

Quite alot of movement today but on a 4hr bar chart its not as volatile and has remained below the 8 day average.   I measure or observe that because over a long time its fitted into my estimate of whether BTC is tending towards positive or negative action over more then a day or two.   But right now today this is a nice piece of action, the real test as always is to break through Sunday / Monday from weekend into week day and carry on just the same upwards and onwards.   We have the sort the simple waves back and forth from the tidal movement.  This remains yet to be proven and going on how BTC acts to repeat and circle I dont take this as conviction bullish just yet, I still expect prices further down to be proven.
   News can happen any time though so its always possible to be incorrect and with volume buying, higher is still possible.   We do remain below the 50 day average.

According to some analysts, after Bitcoin breaks $ 10k it will effortlessly rise to at least $ 12k, the reason being because of the Post-Halving effect, weakening of FIAT money, the FED's big injection this year that exceeds 3 trillion. dollars, making people start to see Bitcoin as a haven of value.

I hope it does, but we need to be patient.

The price is somewhat going back and forth. I did sell some of my mBTC when the price rose to $10K and I think I did a good choice there since the price quickly declines after that. Right now I am having doubt when to invest again. In my opinion, if the price increases to $10K again, there would be some investors that are ready to sell some of their BTCs too.

I dont see investors sell with such a small price difference especially the big investors. I still expect a price around 15-16k this year and will be better to take some profit before any temporal dump again. Except you are a bitcoin maximalist, trying some altcoin this year might give good reward especially some new ones with solid research. You can still multiply your bitcoin with some good altcoins

$ 9270 seems to be resistant now, the price of Bitcoin is still at $ 9100, and is still playing in support, for me this is not a trading zone, it's terrible if prices suddenly drop

If good times came we will see your speculated figures coming up but there are so many conditions before we can really approach to that price but the main factor that stops for the price to came in for that numbers is the current crisis happening, many people are still not decided to invest their money but if the vaccine is available to end up this pandemic provably we will see those great price changes coming up.

We should also consider "what's next if bitcoin breaks below $9,000?".
Well, this is really tough for everyone.
But here's mine for negative part or bear price action of Bitcoin if ever we well fall below $9,000.
My worst case is seeing again below $7,000, especially we are near to the monthly close of the candle, we should also be aware on this.
Let's hope we will not close below $9,000 at the end of the month, well this is only my own speculation.

https://i.imgur.com/I0sc3Ky.png

The market has been in a low trend this month of June and I am foreseeing a return below $9000. The low volume is a sign of downward trend and I think we should stand and watch as the trend favour sellers

Usually though, with low volume, its an indication that the market is slowing down, so its really possible to see the price below $9k in the next coming days. We have a strong support at $9200 but when it was broken a couple of days ago, it's just about time the market will have a small dump along the way. But we should all look at the price side and see this as a opportunity to stack sats again.

Bitcoin already dropped below $9K, so what's would come next?
If we will see a downtrend, then be it, honestly, it's hard to expect something big this year as investors will not put their money in crypto as the economy struggles, honestly, I'm already happy with the current situation of crypto market, at least it did not dump and we survive a big crash earlier this year.

Let it move be more volatile, it's an opportunity for all of us to make money in through short term trading.

Although the support is broken but bitcoin is still with in the descending channel. The bitcoin CME future was closed at 9220$ so there is a gap of around 230-260$ which needs to be filled. Considering that all the CME gaps are filled bitcoin will soon touch 9220$.

Does that mean $ 9220 now is important resistance? if the CME Gap is filled in what happens next? Will it go down or will it go up?

Now there is a lot of speculation about the price, Max Keizer actually recommends buying Bitcoin, now because of this, you have to hope what effect it causes on your followers, in addition the effect of COVID-19 has left many unemployed, so they are looking for better forms of income, and the Bitcoin market is a foolproof option. If short-term supports and resistances jump, there may be no offer found until it reaches over $ 12k based on what can be seen in volume, although we should wait to see what will happen in the short term. Many see resistance at $ 8.6K and say that when they get there the price will go up very fast. I do not know how much this resistance means, although the TA in these cases may vary at different times according to the analyst in his opinion.

The price managed to reach back $9.1k and has been struggling to get pass $10.5k for almost a month, the same way it struggled with the $7k and $8k prices. I know it will be a matter of time, the virus outbreak has weakened a lot of assets and they are now struggling for a growth. I am happy that Bitcoin has shown itself to be one of the strongest assets that we can trust even at this time. The price always shows that, and after every hit it still somehow grows back up.

I do believe that the price will climb the chart to $11,000 in a matter of weeks or less than a month. It’s already showing that sign, and there has been some activities that shows the price will be hitting more than just that.