Bitcoin Forum

In a meeting with my friends yesterday, we discussed the fact that Bitcoin has shown a decline that is unprecedented in recent months.
Yesterday we saw a price touch of $ 47,000 and today we had a good growth up to the range of $ 52,000 and I emphasize again that the main price range of Bitcoin will be at $ 44,000 and according to the market situation I will update this analysis but now the most support in The range will be $ 44,000.

https://s19.picofile.com/file/8431841550/84846f89_9b0a_43f3_8093_1c2ddc74f6bd.jpg
https://s19.picofile.com/file/8431841568/da9f625a_8ece_4139_a18e_e06b9d405dc8.jpg

That may need to be corrected to last few weeks, and the unprecedented struck out;
In the last couple of months, let's use three as a reference; Bitcoin has risen from approximately $30k to around $52k right now, that's an increase of ~73%. And twice within that same period of time, the price has broken above $60k, that in no way is an unprecedented decline.

$44,000 - $46,000 could serve as a strong support mark, although for now the price is rising it could drop at anytime, but shouldn't fall below that range.

well according to any measure someone purposefully chooses. they too can find a moving average that has no pattern before it

its funny how people selectively choose certain moving averages to set an agenda.
one time its m30-m60-m180 to say 'its following a trend.' then all a sudden a m50 doesnt follow a trend

well the $62k is not a norm. not a supported price.. its a near ATH unsupported bubbled spike. anything below that is just a correction

you cannot use a silly M50 stat that is post spike to predict the correction because everything after the spike is pure speculative hyped up prices.

you need to find the real supports before the spike to find where the real price will land at its new bottom

its like throwing a ball up into the air and back down at your head 10 times.. but you want to only include any statistical data AFTER the 10th throw. and pretend the other 9 throws never happened. where all your judgement falls on just the stats after the 10th throw while its in midair
'this throw is fell on my head. its unprecedented'.. sorry dude you have 9 other bruises from previous throws

maybe look at the motion as the ball went into the air. look at previous rises. then maybe you can predict where it will land and dodge the hit

..
in summary. using POST spike data to think about what prices were PRE spike.. but without even looking at pre spike.. is meaningless

M50.. pfft.. makes me laugh

This seems to be more like wishful thinking rather than a market analysis.
The Bitcoin price will continue to move in the 45-55K USD price range in the next few weeks.This is just my prediction.I don't want to make an analysis or draw lines over random charts.I don't care about the current Bitcoin price.All I care is how to get more Bitcoins. ;D
Everything in the Bitcoin market can be called "unprecedented".The last winter bull run can be called "unprecedented" as well.Why should we always focus on the negative stuff,like price corrections. ;D

I think we don't have to be trapped for too long in thinking about the future price of bitcoin because as one of the biggest crypto currencies, I am very confident that the price of bitcoin will be back in a good track so that with the decline in bitcoin prices now it is an opportunity for me to increase bitcoin stock. in my wallet, maybe as an analyst of course you know how to take into account price movements but as a trader I just want to take the opportunity to buy bitcoin when the price goes down and resell it when the price goes up even if I have to hold it for some time.

there is a very good chance that the below $50k prices are now gone for good. the price we saw recently could be the last opportunity for people to buy bitcoin at those levels and from now on only above $50k prices are going to be seen. which makes $50k the strong support.
so far the rise is slow but strong with price currently sitting at $54250 and heading towards $70k and $80k levels next month.

After bitcoin touch 47k$ it bounce back to 54k$ that was amazing right? It drops small numbers and bounce back a bit big from 50k$ to 47k$ and then from 47k$ to 54k$  isn't it amazing? I believe that if bitcoin drop up to 44k$ it will maybe bounce back in big numbers base on my own analysis maybe it will reach 60k$ in the next few weeks from now.

Likely continued building up a base in the $40,000s and $50,000s for a bit longer before the next rise. Price charts show Bitcoin is gearing up for a very long term appreciation, the move from $10k to $50k was the first leg of that. So I'd say roughly sideways for bit longer then rise. Market reacts fiercely to the upside when price drops below $48k. Buyers seem to know anything under $50k is a rare gem that won't last long.

Of course, many supports appear at $44000 but it does not mean that the price will reach $44000 before bouncing back. Since the price had wandered around $50000 for many days, it is a good sign proving that bitcoin is being bought a lot in this zone

But if you want to wait till $44000, it's up to you.

50 day average is probably the gold measure for now, the simple take.  I always imagine we can go back to the 200 day but perhaps its more like the 200 day will come to meet us more then the other way round.   
   My quick look and 56k would be a good place to pass and hold for this week, just now we are passing the weekly average which is quite important to keep if the market is argued to be strong.   Just turning around in one day to me says a volatile market and inaccurate in its pricing but on a Monday these things can happen in the clash of the main markets starting back up.

I made a simple TA regarding the charts and it looks like the 100 Moving Average served as a support although it went down through it on the daily chart, it bounced up the day after which is a sign that the short term support that we are seeing is the $49,000.

My previous support before the crash was at the $48,000 then at the $45,000. It went down to $47,000 and bounced back after few hours. Buying Bitcoin below $50,000 is a good thing especially if you are just buying for short term profits. Now to answer your question, if Bitcoin manage to hold that short term support of $49,000 then there is a high chance that we might see it going back to around $55,000 or best at $60,000 or even higher. On the other hand, if it falls to that short term support then I see $45,000 as the next support followed by $42,000. :)

I believe that the price of Bitcoin is recovering again, for now due to technical analysis many have been able to determine that an imminent recovery is coming, but in the same way there are many ways to invalidate it, the whales may be setting bullish traps, however, This technical analysis shown in the article is very accurate for me:

Source: https://www.newsbtc.com/analysis/btc/bitcoin-price-breaks-hurdle-58k-next/ (https://www.newsbtc.com/analysis/btc/bitcoin-price-breaks-hurdle-58k-next/)

I think that $ 58k can be a good parking point for the price of Bitcoin, for a long time it was traded at this price level, once a good liquidity was reached the price rose to more than $ 60k, it should be noted that the whales are testing the lowest supply levels to take advantage of buying cheap.

The news of Tesla selling some BTC seems to have been negative at first and then positive. Most people panicked at first but they only sold 10% of their holdings and their purpose of selling was mostly to test the liquidity of the bids.

This is important because since they own over $2B worth, because if they try and sell say 5% and it crashes the market by 5% then obviously their investment is not secure because they won't be able to liquidate in the future when they need to cash to open new factories or hire more workers. Since it pasted the liquidity test then its pretty bullish. Way too many people panicked however price is still holding up well.

If the price is back to below $50k and still down to $44k, that will be the worst scenario that can happen later. But we can not avoid that if the price really drops more than before unless we can prepare for that situation. Maybe we can say that the price will stay at $50k and stable at that price, but the truth is we do not know because who knows, bitcoin price will have another correction that can make the price going down too deep than before. If you want to buy at that low price, you need to prepare your money and wait for that time.

I guess we have around $45k or so as the support, seeing as we went up to $54k after that drop to $47 something last night. Seems to be the standard start-up of a straight line movement that the market usually does before it goes up or goes down fully. Still, news of some magnitude may influence it much earlier and something may just actually happen. Looks like there were news of Elon (or rather rumors) that he sold his Bitcoin, turns out he didn't. Tesla did however sold some of they're bitcoin.

only 10% I think it is not so influential there is still the remaining 90% they have of the total investment, I think the news will not really affect the market, what affects the market is how USA policy in the next few days if it happens like last week it could be a bitcoin crash again but hopefully in the next few days there is good news so that bitcoin continues its bullish so that it reaches a new ATH.

correct that's why im not surprised anymore on what will be the next result of bitcoin after all the fluctuation in the market .. Because i do believe that it still can recover back or even excess as long as still have a strong support..  Indeed it will not bounce back if it dont have strong resistance/support . Wherein maybe its now keep falling like a rock in my opinion..
And this  current situation? well for me its due to some greedy hodler and this is nothing for sure. because indeed despite bitcoin still making a sign in the market, and i have doubt perhaps it keep searching again for new place to land.. The uptrend isn't done yet..

The factual sell didn't cause much trouble and probably had no significant effect on the price itself. However, the very fact that Tesla sells may have caused panic, because there was a portion of new Bitcoin adopters, that purchased Bitcoin after Elon's strong and public support.
Also, I wouldn't be so eager about the new ATH, there's still a correction going on. Give BTC a break, it needs to stabilize :D

Falling days are over and the chance to buy bitcoin at a 20% discount is too.
But they are trying to push some new FUD for the following week(s) to try and keep the price down and maybe even short it a little more. It is impossible to predict how the market is going to react to this new FUD though, so we may end up seeing yet another bear massacre where they lost a ton of money relying on their FUD strategy soon.

In the past ,I have read the speculation about the real value of bitcoin and nobody could estimate such and that is still difficult to predict till date because bitcoin is decentralised, not regulated and price can only be speculated. In recent past we were in the area of $20,000 but a year ago till now has seen a high growth despite analysis on real value. The real value of bitcoin is not known and predicting a fall because of fear of real value may be beating around price and prediction because it is unknown.

Hard to predict on what would be the market condition in next following days but its good to read the news since actually we can get the latest info on what are the big fuds that can possibly affect the market although we don't have an idea on what will happen on future still we should have back up funds to buy in the dip if we really want to earn on bitcoins. Also we need to focus on our positions so that we will not end up being massacred if the market fall.

Yeah, sounds solid enough for support although I still think it's practically around 50k, temporary breaches of that notwithstanding.

Going to need to survive another weekend at these levels to firm up a direction. The way we stand, 10% moves in a day still too common to rule out consecutive shavings of the same magnitude. Even so, 40k is still an attractive support for me. Am sure for most of us too!

What is meant by real value? There are several factors that can determine the real value of an asset such as the utility value of an asset, the level of satisfaction if it is used, their number and also other things. but in this respect, bitcoin is very different from what we learn. The first is like you said, because bitcoin is decentralized, then bitcoin is also currently very influenced by trends, so the fluctuation value is quite high. determining the real value of bitcoin will be quite difficult and even nearly impossible if we can't find a fixed parameter that we can use

Yeah, I've also thought the same thing. The Crypto market was hard to predict because there's a lot of factors that could possibly affect the price in the market that is why it is highly recommended to look upon some big news or event that might be a factor. However, that not will always be the case because there are circumstances that these factors could happen in an unexpected way like the dropping rate of mining rates due to flood in China. The thing is anything can happen in the crypto market, it is possible to drop at any moment which is why we should always be ready.

The price drop was not unprecedented. There was a lot of instances when the price of Bitcoin dropped at least 50% in just a single day. That is difficult to imagine today when the price has already reached $65,000 but this price drop is not the first time. Of course it is the first time that it dropped more than $10,000 very quickly but in terms of percentage this drop is considered low compared to the past high drops of Bitcoin. So there is nothing very special about this correction.

The correction and dumps are part of Bitcoin journey and in the end the prices will always rise and we will hit bull market after all the investment and money flow in the market again.We are already stepping a stone with prices growing from $47k to $54k within a week with MicroStrategy and Retail investors once again investing money into Bitcoin.


So whosoever has invested during this time will be happy in the long run because they still have invested at good price range as investing at $55k will not hurt when prices will be trading at $85-$100k range in the long run.So all support is in favour and growth of Bitcoin.

Very nice recovery from bitcoin already hitting 55,000$ again after two corrections which dumped the crypto currency to 51,000$ and 49,000$ support levels on the last days. I was expecting bitcoin could keep dropping to a new support level, following that sequence, but thankfully the opposite happened and it recovered without major corrections.
Now the tendency must continue and push bitcoin to 60,000$ again, so we can start thinking about a new ATH. The market looks very optimistic about bitcoin yet, despite some bad news around.

I think that Bitcoin is currently having a good recovery, however in the short term it has lost 0.22%, this is considerable from the point of view of scalping traders, and in another order of ideas Bitcoin is in a possible start of trend bullish, there is another investor that entered the market from South Korea, a giant called NEXON ... The analysis they do below is short-term but with a neutral efficiency index:

https://i.imgur.com/T7BO9WW.png

Source: https://u.today/btc-eth-xrp-ada-and-bch-price-analysis-for-april-28 (https://u.today/btc-eth-xrp-ada-and-bch-price-analysis-for-april-28)

Yeah, we are going to have new ATH in the new month as usual. It would be very unlikely for bitcoin markets to break $50k levels any more as it is slowly moving upward for breaking the resistance around $56 to $58k levels. So, getting into $60k may happen at any time like within this April and in new month May, we may have new ATH around $70k levels.

OP was mentioning about support levels around $44k levels which may not happen any more as with recent correction bitcoin somehow manged not to drop below $47k levels hence the strong support levels around $45k will hold forever.

The unpredictable market has been taking pressures for several times, and what's happening now is the reality of everything. Maybe we'll going to experience a lot of fluctuations before the big ones will going to happen. Don't rush your decision, because there might be an amazing things that going to come when our target value will be meet. Meanwhile we have to experience different scenario, let just ride into it.

I have made a prediction that bitcoin price will fall to $40.000. Technically I see that there is ABCD downtrend pattern which is strengthened by the formation of a candle today will be a red candle. Also, seeing to the weekly time frame the movement pattern is storngly forming a head and shoulders pattern that will give a sign for the bearish trend.

I hope you are right and we don't drop below 47,000$ anymore. I think the market has total conditions of pushing bitcoin to 60,000$ soon with a possible chance of reaching the 100,000$ this year yet, as I have seen a prediction today. That is a good sign the market is very optimistic despite the mysteries behind the recent correction which couldn't be fully explained.
So it's important to be fully prepared, holding maximum coins as possible, because buyers are avid for bitcoins, influenced by FOMO, which is caused by institutions moving into crypto universe.

I think there are still hundreds of thousands of institutional investors who strongly support the bitcoin trend.  We took Tesla too seriously - Elon Musk.  The total they have as I know is approximately 35k BTC.  They are not the biggest holders of bitcoins.  The 10% they sold is unlikely to be the last reason BTC rallied $ 9k this week.  So in my opinion the main reason that will drive demand soaring but not massively but maintained throughout is that mining will decline following the move from China and JP Morgan to provide support.

And seriously there may not be any parameter to determine bitcoin value in price. This is because of the decentralised pattern that no body can regulate it. If it was not a community project, then you can wake up to see such but satoshi left the stage on bitcoin after accomplishing that.

No doubt there was a lot of liquidity at $47k, $45k and $42k but sellers were unable to break the $47k barrier to break BTC even more down. I believe that if it was an impact of sellers like Tesla owner who recently claimed that he sold some millions worth of BTC just to show the markets that there's ^enough liquidity^ in the markets, then it seems institutional investors will definitely bring out their BTC to start taking some profits out of BTC as their self-interest of earning profits on their investments has been met already.

Now the price of bitcoin is 57k,it was a hard to reach 45k.It's not happened in a shot period ,it take more than 3 weeks.The people who had hold their money in trading will do that trading as a part time job.They won't do it as a full time.It's not a gauranted profit from the trading,you should try to handle such situation to get good profit.

Im not against with TA's but knowing this crypto market where those analysis could really be fucked up anytime because this market doesnt really precisely goes into those charting analysis.

You can see supports but doesnt mean that it could eventually go there.Its better to be aware and be ready for plan B's because this would be likely the case to happen.

Asking about Fall or Rise is always been a question due to speculative manner or behavior of this market.If you dont know on how to ride off with the waves then
you shouldnt really be on this place.

Bitcoin has gained a lot of ground since this April 30, we are already in a weekend that we hope will be very profitable for everyone with good news, now the price has shown an incredible recovery, and the dominance of Bitcoin increased to 48%, It is around $57k almost $58k, the efforts of the bulls are paying off.

The analysis by Cointelegraph is very interesting because they think it can go as high as $64k again.

https://i.imgur.com/cdk9p74.png
Source: https://cointelegraph.com/news/price-analysis-4-30-btc-eth-bnb-xrp-ada-doge-dot-uni-ltc-bch (https://cointelegraph.com/news/price-analysis-4-30-btc-eth-bnb-xrp-ada-doge-dot-uni-ltc-bch)

There has been a very good momentum in the market from April 25 after price reached $47k and for the past 7 days the price has been slowly rising but with a strong buy support and a solid volume. The new FUD didn't seem to be successful and so far the bear-manipulators lost a lot of money for the whole week.
If the momentum is kept the price could be above $65k by the end of next week.

The FUD machine has been going on strong and despite all of this the price of bitcoin does not budge at all, this is a good sign however I must confess that I am worried because of what we are seeing in the market of altcoins at the moment, we are already seeing huge levels of speculation there and this is bad because it is distracting people from bitcoin and sooner or later this is going to generate a crash that could create another crypto winter we will have to endure for years.

Alt rallying doesn't mean anything this cycle. They have been rallying on and off for the last 6 months or so. Its different because in 2017 it was mostly BTC rallying entire year, then alts rallied alot and then everything dropped. This cycle is a little bit different because we either have alts rallying with btc, or vice versa or sometimes they are both rallying.

So since BTC topped $65K a few weeks ago and alts like ETH are running down, it doesn't seem its like 2018 where everything just rallied like crazy and popped. The rally was much stronger in 2018. The only coin that rallied really hard is XRP and DOGE. Everything else is just going up slowly and steady.

Everyone was thinking that bitcoin price will reach 43-44K when it was dumped near 48K. After a week now the prices did not fall to this level, instead we pumped back to 58,000$. This means that there is a lot of demand for bitcoin and bull market isn't over yet. Keep in mind, if we would have fall below 40K, it would have been a start of  bear market, but nothing of that sort happen till now.

Nah, it is just short term and in the long run it is actually a good thing for bitcoin since all the money that goes into altcoin market will flee that market the day that the dumping begins and they start losing money. We see this in each cycle when the altcoin pumping season begins and the scammers start ripping people off.

Currently the bitcoin dominance is moving down due to which we are seeing a lot of pump in the altcoins but altcoins will not be able to sustain these high prices. If bitcoin started to move towards its another all time high, then all these altcoins will start to bleed as money will start moving in back to bitcoin which will increase its dominance too.

Exactly, those pump and dump altcoins are not going to sustain it's run. Sooner or later investors are going to dump them hard, and where else they will go? - Bitcoin. That has been the case in the last bull run.

So it doesn't matter how altcoins are doing for now, bitcoin above 50% or even 40% is still healthy for us. And then institutions and whales and retails started to pour their money on the ecosystem, those altcoins are going to be affected for sure.

There are big players who understand the sentiments of this market they are willing to push ahead.

It seems that many has been shaked and those who sold their assets are now regretting as the market bounce back again and bring
huge profits especially those who are good in short term trading.
Practice to have much longer patience it helps a lot in surviving from this journey, investing have lots of challenges but if you do perform well it compensate a lot.

Maybe people focus now on the altcoins and try to make more bitcoin from buying and selling the altcoins.
Once they can make many bitcoins, they will back to bitcoin and maybe that will be the time for bitcoin to start the rally because people who do not make a profit from the altcoin will try to buy bitcoin and that can lift the bitcoin price to the high price.
But unfortunately, that is just a scenario or speculation that we do not know if that really happens.
At this time, we should try to make as many bitcoins as we can or make more money so we can use that money to buy bitcoin at a low price before the price starts to rally.
This time, maybe the bitcoin price will make a correction for some time, so be careful.

Then what happened to the conversation Yesterday? as the Value of Bitcoin reached 58,000$ again? does it mean your talkings only happen when the value is falling but not when rising? that's unfair for the Crypto community that wanted to hear the good and bad news.
Anyway Hope that the air changed now as the price of Bitcoin is showing strong again ang making it to the top in the next days.

I honestly think that right now, $50k can probably be safely declared as a new support.

The institutional support and demand has been absolutely incredible. Even though some are concentrating on Tesla taking some profits, the fact that the vast majority of invested institutions are still strongly bagholding as well as the fact that even TSLA did not liquidate all of their positions (in fact, not even most), should be an encouraging sign for future adoption.

With that said, I don't expect a bear market to crash through any time soon. Simply too much bullish sentiment and well-deserved FOMO right now.

Agreed, but been expecting it for a while and nothing major yet. Since it's clear now BTC dominance is decline constantly. There's a bunch of people starting to accuse BTC is no acting as ETH, this is just for short term. I'm personally loving it cause Alt season incoming. Bitcoin is trading between support zone, nothing to worry about it. Ideally, we will get back BTC $60k soon.

We are all expecting that to happen but right now bitcoin market is seeming too stagnant without any major price movements. Probably market is waiting for another big news but not sure how and where that will be happening. In some sense I'm just wondering how we have reached up to $55k levels this year but not moving further right now.

We all need right now just another institution to come and adopt bitcoins with long-term plans or any market giant needs to start accepting bitcoins or any government needs to declare about their positive stand against bitcoins or something else which we have not seen in the past. Markets just need another stir up.

Bitcoin market stabilizes at around 55k$ in the market so I guess it will stay at this market price for a moment until it explodes to a higher market price.

It's kinds of tough when we reach 63k$ in the market so it really needs a push and a lot of investors to break the new All-time high again and to do that we're gonna need a lot more.

I kinda agree we need something that is going to push bitcoin, maybe just 1 good article or giant companies adopting into bitcoin, news about this could easily explode the bitcoin market for sure. But there are some people that expect that this will be the last rally of bitcoin and then it is going down after that.

In the short term, the price has behaved laterally, it has remained at + 0.73%, however the volume it represents in negotiations is considerable, it can be seen that the horizon that paints in the long term is bullish, but it is not necessary Be confident, bears can give an attack like yesterday that puts into context the panic it causes in weak hands, this article is very optimistic:


https://i.imgur.com/2rIwzv4.png
Source: https://u.today/btc-eth-xrp-ada-and-bnb-price-analysis-for-may-5 (https://u.today/btc-eth-xrp-ada-and-bnb-price-analysis-for-may-5)

I think that the support that is now $ 56k could easily break towards $ 60k.

Don't forget about the retail investors as well, they are the fuel in this ecosystem. And although we have seen bitcoin becoming a hedge for big companies such as Tesla, we can't take away ordinary traders, those who buy everyday to at least push the price, even with little percentage.

So as I have observed in the last week, we are in a period of accumulation again, most likely it will result on a break out run, like in the past months because of retail investors.

I think that recent dump is just temporary since the price yesterday was almost hitting again to $50k yet it came back to $58k. We can't tell which way Bitcoin will go but thankfully it's staying in a range of +50s but never going to break the 60k resistance. I think if Bitcoin did stayed at the $60 I think there's a huge chance that some people will start to dump and this will cause the price to plummet back to +50 something.

So far there's no fud yet that would make Bitcoin decline suddenly so it's a good sustaining price if you want to scalp with this price action.

If you are talking about pump and dump then you need to talk about the entire market and these institutional investors who pumped billions of dollars in the market will dump everything at a later time and when that happens the entire market will have a major correction which includes Bitcoin and you might not see some of the alts rising again after this dump and with regulations expected in the next 3 years we might be seeing the last crazy bull run in the cryptocurrency market.

Bitcoin did another correction and its going back from its current phase, it needs another correction before hitting $60k but I agree with it staying at a range of $55k to $50k and if it falls down below $50k then it will surely make a pump towards the $60k price ceiling and after that being broken then we could expect more.

In my own opinion as long as bitcoin exchange rate was still on the amount of $50000 up for it is still good.
Actually it is really hard to oredict what might be the next trench of bitcoin path be it a rise or a fall but as what I have seen in the market the strong resistance on bitcoin exchange rate dominates the market.
We may have different technical analysis when it comes to bitcoins upcoming new price but I know that we are in one of thinking positive and aiming for a good price ahead on bitcoin.

Did you understand what you are saying here?

Bitcoin had already Drops below 50k yet there is no another breaking of 60,000 so when would that be? another downfall ?

You are joking right?

I do not think that it will have another correction under 50k anytime soon, but I do believe that it will go over 60k you are just rushing it. The options were "go over 60k or have another correction under 50k" and I think it was a quite blanket statement that covers everything. As long as it goes over 60k he is right, as long as it goes under 50k he is right, there is no way he could be wrong at this stage because that is the type of thing he wanted to say, whatever happens he will be right and will say "told you so" there are people like that.

It is basically saying "it will either go up or go down" and they just don't give a time so they are always right. I would say there is no under 50k anytime soon, and 60k will come in May for sure, that is what I believe. It is not just 60k+ neither, I believe a new ATH will come during May as well.

For this month, it's going to be somewhat a struggle to break $60k. The highest we really get is $59k and then it will fall again. But the likelihood o going under $50k though is remote for this month. We may see the price going on sideways for a couple of weeks.

Ethereum is surging and probably this has an effect on bitcoin's price. Nevertheless we should look for long term in bitcoin's market, maybe in the future, $60k or $70k will be the support line.

Bitcoin is still not able to hold above $60k it is still in a long correction where it has to go through several other challenges, I haven't even seen how this will be pumped up and this is just a habit of Ethereum which itself is still pumping but it makes sense that it will reverse it. We're seeing how the direction of bitcoin is actually the other line of support I think this will affect altcoins too.
It can still be looked forward to $57k is still said to hold quite stable and next month what happens with the correction or another pump.

That would be a much better barrier in hope that end of this year it will hit @100K, so far it's still bouncing and haven't got any real strong support.

We might see some correction if this another attempt moving upwards failed, I'm not seeing $50K though might be $54K and then bounce again.

Let see if what would it be after this month, strong hands always gained higher compensations. Best of luck holders.

Bitcoin has been sideways, price for the most part is $ 56k- $ 58k, bulls are very likely to have or make a good effort to test new price levels, supply may be increasing, at the moment If you stop increasing the offer, we can see BTC at $ 60k

https://i.imgur.com/oBj7utI.png


Source: https://u.today/btc-eth-xrp-and-ltc-price-analysis-for-may-10 (https://u.today/btc-eth-xrp-and-ltc-price-analysis-for-may-10)

The analysis shows us clearly that it has strong support and a huge uptrend which is so strong than past. We can surely to touch 60k$ soon. I think the year is going bullish and it will be continue to over the year.

It stays in the middle mate , either Fall or Rise there is still no sign , Look at the value

https://coinmarketcap.com/currencies/bitcoin/

Fell down to 47k recently then climbs up to 59k but now drops back to 55k , there is no concrete movement as of now and i think this has been the same scenario before the ATH breaks last year and this year.

So for me , this can be a big movement that awaits us all.

The altcoin market is without a doubt taking the spotlight out of bitcoin at the moment but it is something temporal, we know that sooner or later a great deal of that money is going to return to the market as the bitcoin bull run begins charging forward once again.

I just wonder how long is this process going to take because as we know most people are interested in this market only for the profits they can make and if the altcoin market keeps showing a great performance then many of those investors are not going to be interested at all on investing in bitcoin if they can obtain more profits with those coins.

The bitcoin dominance in the market is continuously dropping as ETH is peaking new All-time Highs every day. It looks like more and more BTC is going into ETH and alts as the community is feeling stronger with altcoins. Bitcoin is not going below certain levels which means that there are investors who want to buy the dip. If BTC makes a move now in the upward direction then alts will definitely bleed hard.

BTC will down, then altcoin going up, and maybe it could be a different scenario we will see in the coming days. It has to question if that could be sustainable and how long it will stay like that. Because as I know that the majority loves Bitcoin and they will invest more in BTC than altcoins. And with that instance, it gonna be a short span for an altcoin to seeing like that as sooner BTC will dominate the market once again.

Now Bitcoin has entered an eventual uncertainty, we already had everything clear with Elon Musk's tweet that has caused the price of BTC to drop by 10%, however many traders, market speculators and investors are promoting and defending the price , but there is another event that can cause the price to drop a bit more and it is:


Bitcoin drops to $46K, altcoins sell off as report claims Binance is under investigation


https://i.imgur.com/ekZl8ur.png
Source: https://cointelegraph.com/news/bitcoin-drops-to-46k-altcoins-sell-off-as-report-claims-binance-is-under-investigation (https://cointelegraph.com/news/bitcoin-drops-to-46k-altcoins-sell-off-as-report-claims-binance-is-under-investigation)

In conclusion, today has not been a good day for BTC, maybe for the bears, but the market is always unpredictable, now it is best to do more Hodl than ever.

Forget Elon Musk. Plenty of individuals, institution will buy in Bitcoin at certain level. BTC want slow move, but definitely it will back up in course of time and those those people will be kicking themselves for not buying on the low. Let's make it simple, purchase more Ether and level up Bitcoin. Simple as that...

I was looking at 50 day and 200 day averages for a long time, there are shorter time frame ones then that but its just trading.  Price being below 50 day does suggest we are more likely to go and meet 200 day at some point but it can take so long to occur that the 200 day isnt even that far below now.

I think we found some support (https://talkimg.com/images/2023/06/12/AVAj3.png) in the Feb prices or in simple terms the 50k area has volume and acts as support.   Price action is now challenging 2 day average and many will try and trade this, it remains to be seen if we have wider long term questions to answer still.


This is a good chart for volume weighted (https://pbs.twimg.com/media/Ez_XnZYXMAEfmn4?format=jpg&name=orig) averages, at the end of April YTD was about 45k so we've been very close to that

In fact when you have money and have intention to investing ti bitcoin you will think a thousand of time to buy bitcoin at this sentiment market situation. Bitcoin price movement is really different to almost traditional investment like stock and etc. Its price can't be predicted easily moreover with Elon Musk decision against tesla at least it will give a bad perception for most crypto investor.

I've heard that ETH in the top currently. It makes sense that BTC are planning to go into ETH. It makes sense that ALT will going down if BTC gets higher. So I think it's best time for miners, traders, and investors to focus on ETH and BTC. This time is the best time to buy ETH and BTC because we weren't sure what will happen in the next days. So while they are in top, grab the opportunity before it gone.

We are not 100% sure about those corporations keep buying bitcoin. I know it sounds that way at first but the reality is that we are not doing that great at the moment. I would love to believe you and I would love to say that companies will buy bitcoin but the reality is that they are not looking like buying that much during this period neither.

We got spoiled with all those huge companies buying hundreds of millions even some of them buying over a billion dollars worth of bitcoin constantly and that made us super happy about it and we assumed that it will continue forever. However reality is that we are not seeing that type of purchases from companies these days which means that maybe they are not interested in buying anymore. They could still buy more in the future, but as of right now we are not seeing the buying we saw few months ago.

And just when the altcoin market seemed to be taking control of the market it happened what it always happens, a significant crash happened as investors forgot that the most important coin of this market is bitcoin and it is the only one worth investing for the long term and they took unnecessary risks that the whales could capitalize om.

The whales have been playing a waiting game with retail investors and when they saw Elon generating FUD they seized the opportunity and crashed the market, now all of those people that invested in altcoins thinking they were smarter than the market lost so much money that it is fair to consider many of them will never recover the money they lost as they will get desperate and take even bigger risks to recover that money only to lose again when the coin in which they invest crashes even further or the developers perform an exit scam.