Bitcoin Forum

BTC:
Breaking down to refresh the previous low point, the bottom of the daily level is a rebound signal of Hammer Yang K + Lianyang standard. In the short term, the rebound is expected to continue at the position near 36100, which is the position of the daily mid-track. So today, we will rebound first, and we are expected to enter. Field position 34800 this position.

This doesn't look like anything other than the same trend as the past 2 months which is going sideways even though the range became bigger in the past couple of days. The significant level is still $40k and until it is broken we will continue seeing price testing it and coming down then testing it again.

Still continue to sideways until the fud ends and if the fud ends while the price didn't drop below like $28000, the possibility to break that $40k is higher. I'd like to think it's going to break the resistance this time after few unsuccessful tries to break out the support line.

Amazing how it quickly goes up after touching the price at 29,000, somebody must have panicked that day.

Too early to tell about breaking resistance. Most retail traders are probably still afraid to buy after the $30K support line was recently broken. It's a waiting game I guess.

The previous attempts to break the $30K support were the same. Price quickly bounced off that area but bears managed to do it last time.

Or a coordinated attempt to push the price down further to accumulate at a cheaper price.

It is recovering from a strong drop, but personally I am not too optimistic about the short to medium term situation.
In my opinion, after BTC recovers around $40k-50k, it will fall harder.

I would say the same thing. Until BTC can strongly break the $40K zone, then there will be ups and downs as just as what we experienced the past many days. Anyway, this can be a big opportunity for many good traders to make big money as volatility continues to influence its movement. I heard that whales are on accumulation stage and that is why the general sentiment remains bullish for BTC.

Bitcoin suddenly went down a lot but the price is being corrected again traders are very optimistic and those who have invested to keep prices low will get double the profit bitcoin could see its game again this year. The crypto market is not stable because bitcoin is constantly rolling the bull run will start again at the market.

That's because bitcoin market and its movements are more natural while Dogecoin and other altcoin's movements are based on pump and dumps and it is very easy to pump shitcoins. You are just choosing a random shitcoin (Doge) simply because it was in the news and pumped by a so called "celebrity" otherwise there are other similar shitcoins that get pumped a lot more and are much more profitable than Dogecoin. Two examples of these shitcoins from the past 24 hours are CELO and NANO they got pumped 25% and 21% respectively. And these are among "bigger" shitcoins, there are smaller shitcoins that get pumped A LOT more. For example DVPN got pumped 134%, BTRL got pumped 3173% and so on!

Another difference is that when bitcoin goes up (in long run) it will remain up but shitcoins go up (aka pump) then eventually they come down (aka get dumped).

Never heard of this terms but I think I get you. Meanwhile we see Bloomberg experts pointing out that Bitcoin is still bearish short and medium term, plus look around and other alts aren't doing so well, which suggests people are moving some of their risk from alt baskets back into Bitcoin. Consolidation for this weekend?

As @pooya87 said, this is pretty much the same trend for the past 2 months so I don't think that it's worth asking if it's rebounding if it's doing the same thing. Goes to show how volatile bitcoin market is, we never know if it's rebounding or doing the same thing but at a different prices.

We are officially in the Bear market and I do not expect a lot from Bitcoin at the moment. Considering last year at this time when Bitcoin was just above 9k we are well placed this year. The market will trend sideways and I think it will remain the same till September this year. Historically November is the month when Bitcoin starts pumping.

I don't think Bitcoin volatility is natural at all,  Its one of the most volatile assets to trade  with its huge  up and down swings just like any other crypto  it is pumped and dumped and I picked  Dogecoin because it is currently ranked no 6 on CoinGecko

Investing in Bitcoin can be a smart move if the investor is aware of the volatility involved and does not panic and make rash decisions when there is a sudden dip. Bitcoin has experienced a roller coaster of ups and downs in 2021. Recent events across the globe have caused the world’s largest digital currency to fluctuate heavily, leading investors to question its future vitality.Experts advise that no more than 5% of an investor’s portfolio should be tied up in cryptocurrency(news source: kalkinemedia.com)

Being volatile is not the same as being pump and dump. A pump and dump coin is one that has no reason whatsoever to go up and then the drop of it is guaranteed. Take any altcoin price over the years, for example a coin that goes from 10 satoshi to 1000 satoshi (aka pumped), it will eventually come down back to 10 satoshi even if it takes a long time because it was initially "pumped".

What bitcoin has is natural rises due to real adoption not someone fake pumping it, that is why its price never comes down in the long run. Last year price was below $10k and now it is $above $30k which is a 3x rise. In short term because the bitcoin market is small and is filled with newbies that never had any entry barrier, the price can make big moves in short term.
Why choose #6? Take #2. It used to be pumped and worth 0.15BTC and now it is struggling to keep 0.05BTC even though they pumped it hard in May to only reach 0.08BTC.

It can be somewhat called rebounding since we are getting back, close to the price from one week ago. But that's all.
Overall it's still sideways and it's rather normal: we have about half of the price from April and about half of the hash rate from April.
And although the good news are piling up (yeah, I know, the "OMG China" FUD is still loud) I don't expect a proper recovery until the hash rate recovers too (probably after the relocation).
Of course, I may very well be wrong too :)

That China crackdown does not still stop popping up in my news feed in Facebook, so yeah it is indeed really loud outside the forum still.
Somehow the return to 30k+ is nice already so we got that, but that is it.

It is really hard to know. Bitcoin has recovered from $28k to $35k very quickly. But it seems like the price is stuck here again. I would really like to see Bitcoin going back to $40k at least. But it doesn't seem like it will happen very soon.

Currently, I'm not seeing any FUD, the Chinese news is over, I think we have seen the bitcoin mining shutdown was already price-in.


Because there is a strong support at $30k, yes, it was broken, but as you have said, it was quickly supported as investors bought at this price. And now we continue our sideway patterns until a break out happen (positive news).

According to data.bitcoinity.org, in the last 30 days, around 16% of bitcoin volume has come from Bitfinex. Over the last 6 hours it's been 62% from bitfinex.

Wow!

indeed for now the trend is very good but if you look at the chart it looks like it is still sideway but in a slightly higher price.
it would be great to break through the $40k mark because that would be a boost. but I don't think it will happen soon considering that the fud is still ongoing. we just wait

bitcoin is currently actually in a comfortable and stable situation with the price it has so far, let it be stable until it's time to be able to increase again and I believe that the period of increase is still there. it must be remembered that the halving effect at the end of 2021 has not been seen at all. what has been presented so far is only bad news that makes corrections too deep.

There's a lot of good news circulating and it's just a matter of time before bitcoin can move again. hopefully the development of good news will continue to grow so that it will strengthen investors to do things that encourage bitcoin to actually increase.

Currently no.
But if BTC survire 30k level with good volume, yes then is possible to rebound back

Bitcoin like most other coins  is pumped and dumped as well. Think about it ? what use does Bitcoin really have ? apart from trading or buying and selling goods or services.  This is the exact same thing as what Dogecoin is used for, the only difference is that Dogecoin was a meme to start with and it has no limit to the amount of coins which  are minable. ?  Most coins are now pumped and dumped because 99% of people who are in Crypto want to make Fiat money from it. When Bitcoin was first launched it was meant to be decentralized and an alternative  to fiat money. It is now almost only a tradable asset with stupidly high transaction fees compared to even Dogecoin. People use Dogecoin the same as Bitcoin but with cheaper transaction costs.. I also remember Bitcoin being worth nothing when it was launched and like Dogecoin it took years to gain value and it went from $1 in 2011 and jumped to $32 within a few months which is a gain of 3200% In 2013 the price again jumped up from $13 right up to $220. It then jumped up to over $1100 and then fell all the way back down to $300  Its the exact same thing Dogecoin  is doing now. You might not like Dogecoin but it is the same as Bitcoin and is being used like Bitcoin.

The only problem is the strength of the market, this clearly looks like an accumulation or distribution phase created by the whales, now the most difficult decision in such times is the type of trade to create. Moreover in these times whales trade against the sentiments of market, for example they would push down the market even when all the signs are indicating a bullish momentum and will push up the market from very bearish scenarios. Best idea in such markets is to stay out of market.

40 may look significant to you but it's not. The real important level is 49000. Going back to 40 would only be the beginning and could quickly turn into a dead cat bounce which we still didn't see in this bear market. That is of course if it really is a bear market and not a correction in a bull market.

Going to 50000 and falling back to 30 would be a pretty normal fakeout so don't get your hopes up for a new ATH until we stay above 50 for a few weeks.

bitcoin seems to be happier at the price that has occurred in the last few months, feels comfortable and very stable in the $30K-$40K range only and if it goes up past $40K it will go down again, as well as if it goes down $30K it will come back again. hopefully this can continue well before waiting for the momentum to increase.

yes, it could be that what you are saying is something that bitcoin has been waiting for but until now bitcoin has not seen to increase to the crucial figure of $49K, so there is an opportunity to continue to increase again.
but it will happen and it still needs the momentum that bitcoin is waiting for, well now bitcoin is stable at its price which is already quite stable. sure when the increase will occur hopefully it can be fast. but what is certain is that it will happen at the end of the year and that time is still long enough to arrive at the end of the year.

I think $29k is the lowest price for BTC, lucky for me i still have money to buy more at that momment. I think the chart is keep sideways untill Q3 and will be break a new ATH in the end of Q4 like previous year, but this is just my stupid opinion.

I think what you are saying that Q4 which is the end of the year, where bitcoin will increase is something that might happen. because based on past halving effects that it will happen a year after the halving, and at the end of the year which is when the first and second occur in november, december. and this is clearly the same as the prediction you said, we just wait and I believe too. you are really lucky to be able to buy in preparation for the end of the year.

I wouldn't call anything below $40.000 a  rebound to be honest, the past few months it has been fluctuating between $30-$35.000, its range has been pretty stable. I'm positive that it will recover, but it will take quite a while, the $65.000 mark was achieved due to increased hype, (See Elon Musk etc.) a slow and steady growth is what we're thriving for.

This is a tough question, we don't see many signs for the market to recover from a bull run as long as the first 2 months of this year. The short show that the psychological passivity is still in doubt. bitcoin is down more than 52% from its ATH price, has many major defenses of support at 30k and 28k previously. But overall it can go down before reversing.

Bitcoin is not currently rebounding, the price have been between $30k to $40k for some time now. Which I think I the right time to invest, if you have want. It current price today is around $31k.
But I believe Bitcoin will definitely rebound before the end of the year, it will probably hit a $100k.

I'll be honest, it is tempting to buy now, and I'll probably regret it if I don't. However, I'm pretty conservative regarding this matter, BTC has stabilized at approximately $35k mark for quite a while. I'm unsure on when it will recover (I believe that it will, but it might not be in the near future), thus I've decided not to buy, due to being in a budget right now and couldn't afford to have a few thousand standing there, in hopes they gain value.

Is not a stupid opinion buddy, don't beat yourself up for not having the technicalities others have when prediction that they used the technical analysis and analyzing charts etc. Sometimes just using your imagination you can predict what others weren't able to predict.

For starters, this isn't a rebound (though it's a positive start) as others have highlighted so there won't be a need to go into detail why I think so but comparing to previous weeks I think very soon, we'll begin to come closer to the end of downward trend. Before then though, the support at $29k will be started again and the fate of the market depends on what the outcome of the retest will result.

If the market was to defend that price again then like you said It will continue for months to retest higher supports so it's safe to say probably within the Q3 we'll be seeing positive moment in the market but that didn't means the corrections would stop although I'm very positive, the market will get its full reversal and record new all time high at the fourth quarter of the year.

I'm also worried about possible bull trap but I also consider the possible recovery so if this stability or the small pumps continue on upcoming days maybe I will think about to enter again. But for now I'm on standby mode since I can't afford to lose thats why I'm always careful on every decision I made on tradings.

I am following you because it seems the market is not giving us much sign. Hopefully, the situation will change in the next week. But waiting for a while will be a good idea and standby at this moment as we do not have to force ourselves to enter the market. We should analyze deeper to find out more info about the current situation to know where the price will move.

Bitcoin  is taking a positive step at the moment and if this will continue, probably a price rebound will follow next. But i think it's too early to say that we are heading into another bull run again. Bitcoin price may suddenly fall down again and might end up into another downtrend. So the  best  thing we can do is just relax and wait for another price movement of bitcoin and see where will it settle.

Bitcoin continued its volatile streak on Tuesday, starting the day with a tumble below the key $30,000 level and then a rally completely back into positive territory. It briefly turned negative for 2021 at one point Tuesday before recovering

BTC is staying in the floor right now and gonna stay near 30-35k for whole summer i think. Rebound gonna be later. Maybe in the next year.

     As  of this moment, bitcoin is priced $33500. It is really not in a good position unless it goes beyond $35700 price and maintains its position or closes at  or in a higher position. But since it is almost the weekend, I do not think we'll have that much of a rebound from here yet. And with the options news we can only guess if it will be giving bitcoin a good push or a huge pull downwards. Either way, October seems to be the best month for buying this year just like in the past years.

Doing your own quality research and buying with funds 'you know you can afford to lose' are two very good strategies for users in the network, but on the other hand, waiting for a time you feel is best isn't something that works all the time, especially in the Bitcoin network, in my opinion if you're a long term investor you don't have to wait too much or take too much time to decide on accumulating more stash, cause basically even if you're to buy and the price starts to shift in the wrong direction or prolly doesn't appreciate in a while, you'd not have to fret, cause in the long run it'll definitely move positively.

Having said that, if you're a short period investor, are you're planning on investing in altcoins and their pump and dump nature, the timing becomes very important and understandable, cause if you buy many of those coins when they just pumped or in their ATH, you may be forced to sell at a loss in the long run.

Hopefully, the rebound will come next week as the price gathers more support to come to the market. If the support can come at the end of this week and can push the price to increase for a little, the chance for the price to increase higher in the next week will also come. But if that does not happen, we might see another correction but hopefully, that will not go down too deep. Yes, besides watching the price, I just relax with my time, but I prepare for anything.

Nah, I am waiting for a good moment to buy bitcoin. I am not buying bitcoin if the price is just down for $500 but I will start buying bitcoin if the price is down for more than $1000. It will be better for me to wait for a while to see where the price will move as I can try to analyze more to find that time. I do not trade bitcoin too often, but I am trying to accumulate more bitcoin, so I need to buy at a low price.

If I want to buy altcoin, I will look at how bitcoin moves so I can get more analysis for the altcoin because the altcoin will drop if the bitcoin price is down. I already bought ethereum and bnb so far at a low price yesterday, and I am still waiting to buy more altcoin, so I do not expect to see those coins get a pump in shortly. I can wait for the next pump, even if that will come in the next 2 months.

Above 40K is the price needs to attain and stable since that is the known resistance, Playing below this will not guarantee any rebound for Bitcoin unless there's major good news release by that time period. This accumulation period will last longer since Bitcoin visit both support and resistance multiple times and there's still no break out happening on either side.

BTC's current chips are highly dispersed. According to the average situation of the past 10 days, the total number of currency holding addresses has been greatly reduced today, the concentration of chips has dropped slightly, and large players may be crazy about shipping.

It's true that as long as the Bitcoin price is stable and can't get past the $40k price it's very difficult for Bitcoin to rebound. So Bitcoin holders still
have to be more patient with the current situation, and wait for good news to come, in order to trigger the Bitcoin price to rise. But until now there
has been no good news that can trigger the price of Bitcoin to rise,  hopefully in the near future there will be good news that will surprise us all.
For now there is nothing we can do but wait patiently.

Patiently wait or do a sshort trade, Buy at support and sell at resistance. Been doing this for over a month and I've got a good profit by doing this formula strictly. I usually do DCA but this current condition which keeps ups and down is a bit stressful for DCA especially if you enter on wrong timing. Doing a low leverage like x3 max is a bit good too.  ;)

Bitcoin is always rebounding day by day, and now, the bitcoin price is down again and make a correction. But in the next few days, the price will rebound again, and who knows, the price will reach the high price and break $35k again. We need to wait for the next week and buy more bitcoin if necessary to do this weekend. But if you only want to wait while you still hold your bitcoin, that will be okay. In the end, bitcoin prices start another rally like before, and in that time, we can expect to make a big profit.

This market trend of bitcoin over the past two months is having the same pattern of growth. I saw a thread in which an user mentioned about the market will not stay above $35000 for ten consecutive days. As the user have mentioned, the same has been repeating. Now once again bitcoin is growing slowly. Hope this time also we'll reach above $35000 and will drop back.

If bitcoin can't break the 40k yet, I think it will be safe to assume that bitcoin will probably not rebound anytime soon, maybe a big good news or two will be able to help with the possibility of rebound in bitcoin prices but it's difficult to say so because bitcoin is still struggling right now.

Bitcoin’s been on a fabulous run this year. The esteem of each token has more than multiplied since January. Be that as it may, it’s been tumbling ever since April and has presently misplaced generally a third of its advertise cost. That’s a enormous plunge that ought to make speculators ponder whether usually a minor adjustment in an extended bull run or a move within the long-term advertise cycle.

We are very close to that and that seems close to the possibility. But I'd never think that we are able to reach $40k nor to see continuous uptrend motions. We are moving in sideways and that gonna be a strong rise if we reach back at $38k (at least) like last week.
As we can see, short-term recoveries just to happen and that also we have to expect next week. If that going to changes, that much better but I'd rather not expect more.

Why the drop back though? I mean wouldn't it be good that it will break pattern this month and something different happen like bitcoin going up more than 35k USD and then staying there and then continuously growing next month?

Bitcoin had stayed above $30k despite all the negative tweets by Elon musk and Chinese bans on miners from having fear for the worst that the price might liking  reach $20K.
From my own personal analysis Price had always dump on weekends however today Price Action has a remarkable bullish trend I hope the price momentum is sustained till the resistance at $36K is broken then if the price could rally upward the likely resistance is at $41K this is subject to non availability of negative fundamentals that usually result to a massive dumping of the price

I believe that BTC is waiting for a flat at the moment. That is, now there is probably a set of positions and when BTC is sufficiently redeemed from the market, then we can expect the BTC price to hike above the current levels. More and more analysts agree that there will be a second phase of BTC growth, and this is likely to happen at the end of 2021. But at the moment, we can still expect a large fluctuation in the price of BTC, which, in principle, also makes it possible to earn money by trading on exchanges.

I also thought of this when the value breaks the 36,000$ value but again fails to Hit the 40k back. and also there are expectation that we really hit the Bear market and this some increase are just a play from whales .
though institutional investors are still holding up and the reason why we are still in the strong 30k level.
Sad that we are not on that level of breaking even 40k . maybe this is not the quarter to expect it.

I agree that we are in a Bear market. It's important for investors to know those monthly trends which can help an investor safely enter the market and safely leave the market.

Even I had predicted a rebound from $30k to $36k range but we still don't know if the rebound is meant to continue in an upward trend or the market will still continue in the sideways trend.
Bitcoin has been moving in a sideways direction for quite sometime now with a support at $30k and resistance around $40k level.
Until it crosses either of these levels bitcoin will keep moving up and down in between this range.

I expect a sideways movement all the time, the price moves a few bucks high and it drops again. To see the market skyrocketing again this year is seems to be hopeless ( I hope I was wrong) if there is no positive news to hear.
Because I thought that what happens to El Salvador gives a huge uplift on the prices but somehow, we are still moving slow. Actually, there are no changes I saw and the market remains calm. Maybe, we could say that the hypes are totally over, were wait again for the next run.

The price of bitcoin has plummeted sharply and is currently trying to regain its momentum through fluctuations. Bitcoin price fluctuations over the past few weeks suggest that the market is still on the sideway. Because the market situation is bipartisan and the upward and downward fear cannot cross the resistance zone. If the price of bitcoin exceeds the upward resistance, it may re-emerge all-time, while if it exceeds the downward trend, it may decrease significantly. So it cannot be said right now that the price of Bitcoin is rebounding.

it's always safe to follow the trend rather than entering without specific information, like for example on this situation, we don't even know where will be the next direction of the growth rate.. So i can say that on this current situation its a good i dea to be patient amd wait for the right time , because indeed market still unpredictable nowadays wherein base on its performance that seems don't have stable support whenever it make a progress.. Just imagine how many times it makes bump up to 36k but unfortunately it always fell back to support which is 30k. So its a sign that we are still in a bear market and it's dangerous to make a steps these days..

Bitcoin price is hard to break, $40k because we do not see the price can easily increase and still at this price level. Maybe bitcoin will be like this for a while and I guess if bitcoin can rebound, it will not break $37k yet. But everything can happen and hopefully, bitcoin will have the power to lift the price this month.

If there is a good news release, that can change the market situation and help the price increase. Maybe the price will not directly jump to the high price, but that will be the sign for bitcoin to back to the high price.

Bitcoin has been having a lot of trouble lately considering that China was planning to buy it and China is a huge and powerful country. Bitcoin's value will keep on rebounding wherein there will be times where it will reach a new peak but at the same time, it may also go down making those low time investors feel the pain of such instances. Bitcoin's value will surely change and recover in the near future so don't rush and be careful on picking a team.

i don't understand about your statement regarding China planning to buy bitcoin? do you have reference about this? because right now, it is the opposite that is happening in China, they are cracking down on crypto and shutting down their miners. so i don't know where you get the news that China is buying it or you are just speculating here?
but as we can see, even if China is quite hard on crypto, btc is still trying to go up. which translates the fact that even big country like china, will not topple down the presence of btc.

May and June weren't good for Bitcoin, and it's all thanks to China and the twitters of a certain man we all know who I'm talking about. now there's another theory about the bitcoin price drop:
 
Is Bitcoin in danger of losing $30K with Grayscale's big GBTC unlocking in two weeks? (https://cointelegraph.com/news/is-bitcoin-in-danger-of-losing-30k-with-grayscale-s-big-gbtc-unlocking-in-two-weeks)

I practically didn't understand anything, I prefer to continue with my theory that the twitters of a certain men and China are responsible for the price drop and we shouldn't have high expectations unless we see the price break $42000 something that can happen at any time as the price is currently at $35000

Thanks for the advice to make profit through short trades, but the current market is not easy to predict, especially altcoins movement is really
volatile. I tried several times short trades but failed, finally I decided to hold Bitcoin. And waiting for the market to recover, after all I'm not
the type of person who dares to take risks, so I avoid trading with leverage.

everyone has their own type. Basically trading must have expertise, so we don't mess around with fluctuations which can drain us psychologically. if you feel unable to trade short term, then I think investment is more suitable, and if you want to keep learning trading, of course using a little of capital I don't think it will disturb our psychology

in principle is to learn first which one maybe we can do well, because both are very good if done properly and seriously. although many may want to find safety, it is clear that the investment to be sought and there is no need to think about it again is just a matter of time, but it does drain the funds and time required.
if day trading is clearly very good if you are sure and want to continue to wrestle because it takes analysis and high patience in every time you will take action.

It's true that I do need a lot of practice to become a successful trader. Besides being able to train me so that I can avoid trading mistakes,
because I will be more experienced in reading coin price movements. I also with a lot of trading practice become psychologically trained,
this allows me to make the right decisions. I will try to practice with a small capital first according to your advice, hopefully I will become
a successful trader. But like I said my main focus remains as an investor.

We are now  in the Bear marke.Because The Fed is expected to raise interest rates, and Chinese government continues to bun the exchanges.Bitcoin recover need a long time.

hello sir, this is very interesting news, thank you for this notification sir, maybe I don't understand very well about speculation but maybe today I will monitor bitcoin developments from time to time

Yes, it is showing signs of rebounding. Bitcoin is extremely volatile in nature and hence it will always have ups & downs.

  its done bro so move on, for me probably the real reason of ups and down nowadays is because of being lack of support reason why it always fluctuate back when it show a small progress. And also for sure mostly traders as well is dumping just to have a small profits despite of the situation which is another reason why bitcoin growth rate cannot exceeding. For me if this will continue to happen, accept the fact that before this month end it will continue to show up and down constantly because of some bad activities when bitcoin is slowly going up.