Bitcoin Forum

If you have been following events as it relates to bitcoin price weekly analysis you will be familiar with the fact that bitcoin always reset its price every week starting from Monday, and the direction the reset goes may determine the price throughout the week, take last week Monday 7th of march 2021 for instance bitcoin price was $48,980 and ended the week with a positive price gain of +0.91% and throughout last week we saw how the price rose to an all-time high of $61179.79 before dropping again to $60,197.9 starting the new week Monday 15th march 2021 with a negative pullback of 6%- and at the time of making this post 16th, March 2021 bitcoin price is $55,710.60. This has shown to a great extent how negatively the market has been this week. In conclusion, Bitcoin the time has a new weekly price reset mechanism that controls the direction the price will go either in a positive or negative direction. What are your thoughts on this?

Well let see on the bigger picture... let see the price for Monday and the last 4 weeks

On Mon 8th Mar start: $50,323,  end  $51,334   => going up
Week 1 : Mon 8th  Mar   to   Sun 14th Mar      =>   True
So your theory is true here and price for whole week did go up.
https://i.imgur.com/nD6wCZK.jpg

On Mon 1st Mar start: $44,522  end  $48,384   => going up
Week 2 : Mon 1st  Mar   to   Sun 7th Mar        => True
Again your theory is true here and price for whole week did go up.
https://i.imgur.com/qVFzO0H.jpg

On Mon 22nd Feb start: $58,126,  end  $53,535  => going down
Week 3 : Mon 22nd Feb  to   Sun 28th Feb     => True
Yes, your theory is correct again and price for whole week did go down.
https://i.imgur.com/LdTbDsI.jpg

On Mon 15th Feb start: $48,709,  end $48,703  => going down
Week 4 : Mon 15th Feb  to   Sun 21st Feb       => False
No, this time your theory is wrong price for whole week actually went up
https://i.imgur.com/XVlFHCc.jpg


Well well well i would say 3/4 you are right that's about 75% correct... so some how agree with you :)

---

Edit:
For Mon, 15th Feb the margin is so small, i would give it pass.

It's not a reset.

When we say reset then that's going to be going back from where it started. But it's better to say that each week, there's always a move in price that we're not expecting.

It could be more than the ATH or just revert to the past ATH that we've seen.

Word "reset" is somewhat an improper use of word because it isnt really defining on what is OP trying to illustrate.When it comes to weekday prices
then there are already some previous analysis about this where price do really usually rise up when weekends are approaching and sell off when
its monday or even on weekends which is totally in random basis.For those analysis above then i do consider it to be valid but not
still giving out an assurance that it would really be behaving on the same from time to time.

My personal opinion is dangerous, because :
1. this is not 100% will come true, sometimes you think will go positive direction but go negative, and otherwise
2. I don't care about that, because I'm an investor, not a trader, so I buy it for the long term, not for short term buy and sell
3. People will become greedy try to buy at the best price and sell at the best price, and no one cant do it even for people who expert in chart reading, and ended with regret the decision

You can't say 75% correct if only based on a couple of weeks, try to look at another past week or last year, try to learn every week and you will know that unpredicted and will make headache lol. Did you remember when tesla buys Bitcoin with huge capital and the price increases to an unpredictable price. This is an example there is no reset price. It's all about Demand and Supply and nothing reset price

Only the mindset of the whales is making bitcoin keep stronger today, without them unpredictable price wouldn't come at this level. Certainly, demand and supply is changing at any random state and we can't do an accurate reference because suddenly fluctuations spikes 3-4 times. We can't further conclude or decide which will be the perfect target each day, so I suggest having long term trading instead of playing with the market.

I think the context word as "reset" is not appropriate in this matter but I would say it's a "drawback" or "fallback" since the price didn't back to $0.1 but instead there's a little dip in each correction as these large institutional investors participating the whole Bitcoin bull run. And it's just normal to see such dip since the price is increasing suddenly to unexpected amount.

Well, I think this is normal in any circumstances that we experienced such dip to be able those want to buyback after selling during the ATH.

That is happening recently. Lat month or two. In past that was not a pattern and no one can grantee same thing will happen in the future. Short term trading Bitcoin is very tricky. A lot market manipulation to be safe for small holders.

I get to understand what he meant but yeah, it's not reset.

There were times that as expected, the next week would come based from your analysis. But it is also a fact that it won't be the same because sometimes weekends can be good and the upcoming week won't be that good.

It varies.

I would not say that is a reset for bitcoin price, but I would say that is a correction for the price. If you want to say that is a reset, that will not be a problem as we see that the price is moving up and down many times. So I guess the price will still be like that, and if you can't use the moment, you will not be able to make a profit. If you want to take benefits from the situations, you can buy and sell bitcoin at a low and high price so that you can make a profit. But that depends on how good you analyze the market.

Just forgot all the semantics, "reset" or something.

We have seen the bitcoin won't go on parabolic rise, at least in every month we will see the price going down like 20% or more, then rising slowly to a new all time high. We have set $61k as the new ATH, but I have a feeling that we can still push for more this month. We have 2 weeks to accomplished this one and then let's the pattern continue next month.

Short price actions usually within the week might not be called a reset. You might wanna call it short dips. That's when short traders and weak hands are dumping their bags after hitting a new ATH or weekly highs.
This is kinda normal and it's been happening usually where Btc starts slow on Mondays and dumps on weekends, but then again that's not guaranteed because we're not following the daily price trend but the actual market sentiments.

All this pattern analysis of numerical (price) sequences that are often used in speculative threads may be a good way to understand the past, but they are not useful for predicting the future. The OP sees regularity where there is none. When faced with sequences of random events, we always find small series within them that are apparently regular, but do not obey any pattern.

To all the respected members... my analysis isn't an advice or any kind of investment prediction. NO!

No one in the world can predict the price of Bitcoin based on the above three four childish graphs... it was merely a statement to OP and my thoughts on his claims.  But that does not mean this pattern will continue next week or in future.  That's why I did not mention any thing about the future price.

I just said "Yes what you claim did actually happen in last three or four weeks".

But now here I'm claiming and predicting that Bitcoin will be worth 100million in 2030.

https://i.imgur.com/myYmbHD.jpg

To make this a fact you have to look at the whole data going back to at least 3 or years it may be a coincidence and this might be the trend because of the bull run we never know unless one of us will take the time to sit down and check the data for a longer period of time, for me, it depends on the news that's coming in and the motivation of the traders and investors.

many want a bitcoin reset or deep correction? maybe he already sold his bitcoins and stopped buying them when he showed signs of bullishness,
it's really funny to see people regret like that, and say -75% correction? How come?, Bitcoin holders are different like 3 years before, now the ones who hold bitcoin are companies, they will keep the price from such large volatility, even though -20% to -30% can still happen.

bitcoins peak of $60k.. can reset to ~$37k where it will hit a active trader good majority support wall
a complete reset wont go to zero. i believe the ultimate bottom being ~$22k hitting a hard wall of support

ill explain(bare with me)
theres 70% active utxo coin movements(last 6 month) with a value sentiment when they moved of $37k plus
so deem that as 70% of active circulation not wanting to sell below $37k
..
$37k the good support wall for traders
...
as for miner sentiment and the ultimate bottom line
best mining efficiency is at a min cost of $22k right now. no miner would sell below this.
so deem this as the absolute zero being $22k

however some miners have higher costs.
(hardware cost averaged over 9 month recoup/upgrade time..=$16.4. base hw cost per btc)
(plus ~$1.4k extra per 1cent extra in electric cost)
so 4cent=$22k...5cent=$23.4k....6cent=$24.8k....7cent=$26.2k....8cent=$27.6k
    9cent=$29k..10cent=$30.4k..11cent=$31.8k..12cent=$33.2k

iceland industrial (mining farm) are at 4cent(buy aswell as mine if dip below $23k)
china industrial (mining farm) are at 4cent (buy if dip below $23k)
US industrial (mining farms) are at ~6cent (buy if dip below $24.8k)
--they wont stop mining. they will just grab the oppertunity to hoard extra coin

US home hobby mining users are at ~12cent (stop mining and instead buy if dip below $33.2k)
UK home hobby mining users are at ~26cent (stop mining and instead buy if dip below $52.8k)
--yep UK home hobby miners wont mine and instead buy if price dips by 12% right now

japan-germany-denmark home hobby miners already have higher costs so are not mining at home and prefering to buy
...
think about it big US institutional miners could get coin on markets at $24.8k and just buying like crazy
then china/iceland at $22k..
this will require a hell of alot of pressure to fight off the bull of china/us buy frenzy

...
so yea i think $22k is the new 'zero'
and $37 is a good 70% of active traders minimum sentiment

Isn't that what they call correction now?
Also try looking at the days of the week when traders take profits before they rest.
A lot of movement will happen Saturdays and Sunday but everything reflects on Monday.

It is not a reset but more like a dump that had been traditionally happening in the trading industry.
Just try to consider that too.

Complete coincidence.

Markets are almost efficient, and if there was to be any short term trend like this that is predictable then traders will trade that opportunity away almost immediately.

If you decide to day-trade based on an arbitrary pattern like this, it is almost guaranteed that a bad loss will occur to you sooner or later that would wipe out most of your position.

a reset is not 1-6%,, thats just called a dip

a reset/correction is if the price spiked 50%. the reset drops 50%

a rise from 11 to 37 to 48 to 61 would see a 61 to (30-20) as a reset.
                                               would see a 61 to (60-55) as a dip

This is not correct because if you notice bitcoin can reset its price at any point in time but when you look at the partan closely, you will always peek at market sign, once you follow that trend you will know bitcoin market don’t just reset at one’s but follows pattern this also help day-to-day traders.

One posts above you just say's it all, this is not a reset, just the usual dip and market correction then there will be a period of accumulation then bitcoin going to a new all time high. For day to day traders, doesn't make sense to short bitcoin as you will lose in the end. Much better to buy the dip and simply hold on it.

I think that is not the case, in 2019 I do not know if you remember it, but at the beginning of the year every weekend there was an important movement, usually they were in the "SHORTS" style, my conclusion was that a large whale lowered the price for to be able to buy Bitcoin very cheap, with the intention of snatching the bitcoin of the people who bought at $20k.

Every weekend the market moved, maybe now this is repeated with a whale, maybe it is the same but instead of being in the Bearish sense it is testing new price levels to test the offer.

It is necessary to emphasize that institutional investment is large at the moment, Microestrategy generated with the last Bitcoin bullish rally an increase of more than 4.7 of its net investment, if they decide to buy with half of the profits generated, the market may generate another new ATH for those massive purchases, just as ELON MUSK did not care that Tesla shares fell more than 50% and that his advisers have recommended him to sell his bitcoin to recover the position, he ignored, and now he is enjoying much more profit, if the market moves every week or every month, it is by action of the plan of these whales, it may be that everything is generated there.

if you had looked at the charts for more than one or two weeks you would have been familiar with the fact that bitcoin does not follow any trends like this because bitcoin market is not a traditional market to open at the beginning of the week and close at weekends and it is also global!

you are wrong again.
the direction depends only on the trend. on a bull trend the price tends to go up and it will jump up whenever it breaks the resistance. it can be on weekend, middle of the week or the start.

you should always look at the chart as a whole not select a tiny portion of it to make a conclusion.

It may be true or not but I just want to know how long you are following these so that you will conclude that every week is following that mechanism so that the direction of market is moving accordingly. I mean just noticing in 1 or 2 weeks will not be enough evidence to say that. You must have at least 20 to 50 such incidents so that you can conclude in more assured way.

I'm saying these because I'm not closely watching like you are mentioning. But there could be many hidden patterns are available in any market and only when we are analyzing in that way, we could notice them. And this is why I'm starting this comment like you may be true or not at the same time.

It is simply a mere coincidence and also at the weekends the economical activity around the world is less due to holidays so people likely to play more with their crypto trading but if we take a look at the trends of bitcoin and any other crypto market we can't find any rational movements as your logic.

Yes, OP is talking about something which may happen time to time and there cannot be any assurance that will be happening all the times. Moreover, I guess OP is not properly explaining what he is spotting out. There should be multiple examples on different occasion should be presented so that people like me could understand what he's trying to state here. But, I also conclude this would be just a coincidence because we cannot expect market to be behaving similarly at all the times on weekly basis.

We do have lots of threads in related to this scenario about weekly behavior which some do really rely into these kind of movements on week to week basis but i agree that these things
are totally just coincidence and wont be precisely be moving the same on week to week manner which means neither you can take these steps or not but doesnt guarantee
any precise movement.If it does then you are lucky but if not then you would be ending up holding.So it do really varies on market condition or activity.
The community do engage on random manner on different days of the week.

If bitcoin did such things then it may not growth to this high, the high unpredictability and volatility made the prices to the moon and now bitcoin can't be influenced even by the celebrities that is why they target the DOGE. :D

"DOGE is barking at the moon" :P