Bitcoin Forum

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

https://i.imgur.com/2qBlhMY.png

Interesting...I am kinda new to crypto and I want to ask you, how do you draw those things to see the potential price?

This should only be a warning for traders, those that are using high leverage, it is not a warning for holders.

Have you seen analysts with wrong predictions? That what they all are unless their prediction is based on years which we all know to be bull run.

Even if the price fall below $30000, I am only waiting for a time to invest more, but if it does not fall below, I am still good with the bitcoin investment I have.

I have to say this, do not believe in analysts, they are not always right, even if their prediction is correct, not that they are right, the price can go other way.

All this reminds me that I have already experienced the same thoughts and analyses in the past when Bitcoin was in, say, a quieter phase. It all comes down to the fact that if the price is stable over a long period, should we expect a fall or will something happen that will cause the price to rise? I'm not an expert at saying what's going to happen, but somehow it seems to me that we're not going to go that low, and that the price is holding up pretty well given inflation, war, and the aftermath of the pandemic.

---

Of course, there are a lot of those who are waiting for a good opportunity to buy cheap, but sometimes the wait turns into eternity because that opportunity never happens. I remember a time when there was a saying "everything under $1000 is super cheap", the same thing was with $10k, and now Bitcoin is super cheap compared to what it will be worth in about 5 years.

You have draw a chart looking scary and real that bitcoin getting to$32k but as it is, it is still called speculation. Speculation is viewed from our independent eyes and not to be like a general and only what is going to happen. In the future it can change and direction moved to another area. Expecting to buy low is also the emotion to make investors think low for price.

We are now close to the price of 40 thousand, but it does not seem that the trading momentum is great to break the 45k levels, so we will not witness anything exciting during the past hours.
The latest move could push prices away from the 32k price I mentioned.

As a general rule, the price goes against the trend and if many people think that the price will go for a correction and bad news starts to appear, then there is the perfect opportunity for crazy rises.

Somehow it can happen even though we know the current price trend is inversely proportional to the rising market conditions. To reach $45K I think it is difficult to reach now mainly because of the unfavorable trend, but maybe it can happen even when FUD is around.

Now that the price has broken through the $40K level, it might be a while before we actually see anything bigger than that.

Or a sign of entry to those who wanted to get into the market.


TA always play their predictions safe.  They always have this pro-con situation to cover more price range but even so, we have seen lots of TA being shamed by Bitcoin Market.


We can use them as references since TA result varies on what method they use.

see this example (https://www.tradingview.com/chart/BTCUSDT/XRLQILeU-BITCOIN-SOON-WILL-MAKE-UPWARD-IMPULSE-AND-EXIT-UPWARD-FROM-WEDGE/).  OP's TA is the potential of BTC  going down but the one I linked stated the potential of BTC going up.

We do need some positive sentiments or events in the market which would really be a good catalyst for driving the price on reaching 45k once again.Speaking of bottom prices then
every supports could be possibly be reached out or dipped down.Even on the recent price decline on which it is really hard to tell on whats happening in the market.
We've been moving sideways for a while now which it is really hard to determine on which way it would be possibly move on next week or months to come.

It's okay and not really a struggle if it can't go back to $40k that quick. Just get yourselves with these cheap bitcoins if you can because it will normally go back there.
Any price, low or high is of possibility and that's what we've been looking at every time we check the charts, news and every speculation that we're looking at for bitcoin.

Why it should drop to $32k? I don't think it will drop to $32, but $35 is possible. However, the price of Bitcoin is increasing right now, it even goes to $40k. Why do we predict the price to drop to $32k? I am thinking that the price of Bitcoin to have the chance jumping to $45k again after its sideway several months. In the current 2 months, Bitcoin price is around $38k-$40k. If there will be good news about crypto or Bitcoin in the next few weeks or months, I assume the price of Bitcoin may jump to $45k again.

With what happened today after the fed rate it’s proof that we will range a little while longer while following what the us stock indices are doing.

Been a choppy week for both Bitcoin and stocks however after today’s speech both had a very healthy rally. However I just think we will keep ranging.

I don’t see stocks or Bitcoin going any lower or breaking the ATH within the next 3 months or so. Will be mostly choppy like it’s been for the past few months.

We cannot tell mate because as you can see on that image there's still some support on the $37K area so perhaps there's a high possibility that bitcoin will respect it as tested for how many times since february base on that image.  And tbh with you 32k is too far and it will happen only unless if it broke out the $35k which is the last support level because surely bitcoin will continue to make correction below.

The price has actually fell from the $38,000 range for the past few days. Even yesterday itself, the price has touched the $37,000 range but thankfully it has not continued to go down even more. So this might not be true at all. The range should be wider. Because, on the other side, it is also not true that once Bitcoin's price break $39,000, it will create the momentum to go up even further. We have seen Bitcoin breaching $40,000 a number of times in the past weeks and it didn't gain enough momentum. The movement is still generally sideward.

Yes, it has some rally mid week but we are not sure if this can gain momentum as we are going to enter weekends anyway. But for those, they are glad to see the price bouncing back to $39k levels.

But as far as dropping to $32k, I'm will not be surprised at all as we are in a bear market and it can happen in a blink of an eye. And it's better to have this kind of mindset, instead of expectations that the price will go up this year.

Seems like Bitcoin did not continue to fell down? there is a thread created recently about Bitcoin may fall down to 35k but it fails and so as yours cannot be happen because Bitcoin now is climbing back and running to 40k again and here it is ..

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

I believe that it is not the fall that coming but instead it is the recovery is coming near us.

We have already seen over 39k for a split second, which is proof enough that when given a chance, we are not really that bad right now in the market, we just need to be more patient. I understand that not many people share the same feeling towards bitcoin as of right now.

This doesn't mean that we should lose hope about it just because we had a bad day yesterday, we should be doing fine and be happy about it. I personally do not feel like we are going to go down to 32k levels, we are not only going to do well, we are probably going to be like 50k or so soon. Because, when the price draws back like this, it does skyrocket later on most of the time.

And that is where DCA comes into play.
I always believed that this is the most effective investment strategy especially when someone is struggling to find the "perfect" entry point which usually won't happen and will only miss the opportunity of the dip.
The regrets of those people who was in doubt during Btc was priced at $1k or even $10k is unbearable lol.

Even if we see bitcoin price soar up or maybe come to the current price which is so big as before still many people will doubt about its stands, because not everyone has calm balls seeing how the market moves in different positions. So maybe for people who doubt to find their best entry points I guess they need to study first and look for better possibilities if they want to enter on bad or good market condition.

$32k-$30k is still a possibility since that's where the current higher low from the 2021 bull run and I think it's still a good catch. By the way, the image you shared doesn't tell much and can't be called an analysis since it's just the present chart. I think it should have been nice to read the analysis of yours OP, besides not all traders rely on shorter timeframe.

Yes, and we should always think that it is possible, $30k-$32k might look very bad though for some of us. But as you have said, it will be a good catch because the price will be very cheap as it is 50% of the last all time high price.

But we will have to wait and see then, prices of crypto has somewhat been on the rise in the last 48 hours and seems to be getting into the $40k again.

It's more than 50% from the last all time high and it's more than a good catch from a sideways movements market. The DXY chart doesn't look good I guess after reaching the 20 year high, and the Fed just ruled out a bigger rate hike and Bitcoin goes on ahead even the FOMC meeting hasn't ended yet. Not to be celebrated but I think it's a looming point for good thing to come in crypto.

The price of bitcoin couldn't break the resistance at $40K after some Bullish rally yesterday unfortunately it was a bull trap, the price has dumped massively now and broke the strong support at $37600 down to $36500, that means bearish season is on, it's likely the price will drop down to $32K, if eventually the Price Action played out based on Technical Analysis with further drop in price, a big opportunity to buy low and start accumulating, it's like the Bullish season is not at sight now and it's very unpredictable invariably the best bet is buy low for now.

Hopefully, the bitcoin price doesn't drop to $32k this time but instead can stay at the current price level and reverse towards a higher price. Bitcoin has been down many times, and this time, it will experience a sharp decline again or will this be the last time the bitcoin price has experienced a correction. But if you look at the price movement through the chart, the current price trend is likely to continue to decline but we don't know to what extent the price will go down.

Today, I don't know what is the reason the bitcoin price is experiencing such a rapid correction where in just the last 5 hours the bitcoin price has lost more than $3K. Granted this isn't the first time bitcoin has had a major correction, but it has happened several times in the last 7 days since May. In my opinion, if corrections like this happen often enough throughout May then it's not impossible that the bitcoin price will fall even deeper which could break $30K below. I didn't expect that, but we know it's always possible.

It really depends on the trader and investor. If they want to keep the price above $35K then panic selling will not happen again and they will start doing something by increasing demand again.

Yeah, I was surprised as well, but this is bitcoin movement, hard to predict, when we thought that we are not going to this price area of $32k, the price goes down again without any reason.

We even celebrate halfway to the bitcoin halving with record numbers as far as hash rate goes, but it is not enough to push the price today, on the contrary it's a -10% for us.

Pretty accurate I'll have to agree, on 4th may Bitcoin did look weak but not as if it would break the 37000 area but today it eventually did and from the looks of it I don't see any support in between now and 32k so 32k is imminent, probably it might give a bounce back till 40k after touching 32k which will sort of cool off the RSI before going down even further. What are you views for next few weeks?

We've been catch by a bull trap, and because of news of Fed rate hike. Nasdaq and S&P are down but not as high as crypto market though.

So it's really hard to go against the trend right now, the world is on gloom because of the war and then what is going on in the US market.

For some reason when I see bitcoin's price drop, my mind immediately goes to this thread which I previously skipped because I'm sure $32K isn't going anywhere anytime soon. But now this potential comes to my mind as the bitcoin price has fallen by more than 8% in the last 24 hours. But I wouldn't worry too much about this correction because actually I'm still very confident the price will improve and will probably surpass $40K again during the month of May.

Now we're just not sure about the timing ^{[when and at what]} because if the dump potential exists why don't we believe about the pump potential.

Remember last September? The price bottomed at slightly under 30k, it wasn't too low, I guess something around like 29.8k or something, and then during October it reached 68k and broke the ATH record.

So, never really feel like you are hopeless, it should never be that way for any of us. I believe that we should be trusting the situation a lot more and even if we are at a low level, we should be focusing a bit more on what the future could bring and that would allow us to do a lot better. This is exactly what we should be worried about in the FED results, because bitcoin shouldn't be moving like this because of rate increase, but I guess we have to learn to live with it.

The price is already hitting $36,000. And it seems it has also slowly losing hold of the price. It might do down to $35,000 any minute from now. This is still the times of the bear. There was a slow growth seen in the past couple of days which pushed Bitcoin's price up at $39,000. But it failed to gain even a little momentum to somehow sustain the slow rise up to $40,000. It was easily cut by the bears and the weak rise was quickly replaced with a big fall. All the gains were wiped out in minutes.

well, for now the price of bitcoin tends to go down to the price of $ 32k to $ 34k, even I think the price is still very vulnerable. currently, depending on what information will appear, the price of bitcoin seems to be falling at any time.
however, the bitcoin price previously had a low in the $37k range before rising to a high of $39k. however, after some pretty bad information, the bitcoin price dropped from $39k to a $36k price range in no time, and the potential for a drop is still there. if we look at the development of the lowest price a few days ago, the current price decline is not too far from $37k to $36k. however, if we look at the recent price increases, this decline is quite deep.
the potential for price drops could occur at any time, and currently many predict the lowest prices are $34k, $32k, and $30k. Other speculations may arise when the bitcoin price has reached the lowest prediction.

It looks like traders and investors have started to panic because the price broke through $35k and this triggered other coins to go down as well. We don't know when it will stop and reverse but it looks like we can only enjoy this moment while looking for an opening to enter the market if we want to buy at a low price. But it seems that just seeing the price move is a good solution because the price doesn't look stable at the moment.

Today's heavy test for us because the price of dropped 10%, of course, many investors are shocked and panic so that they immediately sell Bitcoin even though in a loss position, although a lot of speculation that the price will continue to fall but I am optimistic tomorrow or the day after tomorrow will return to $ 40k as it It happened several times in the present year.

I'd just look into the market trend last week's time frame, it is clear to see that the market price even going worse at this time. I wasn't going to believe in that downfall strength but somehow, the price seems it declining more after a short recovery. I hope this could be changed this weekend as we expect slow market movement during the weekend but a little bit worried about how it looks like next week. As per to say the weekly trend of the market, prices went down deeper every week. That $32k is not impossible, it is better to anticipate it before it comes and prepare to buy more Bitcoin.

For many times we see this scenarios happen for sure not everyone are in shock for seeing this. Maybe some other preparing on their positions because bearish market condition is somehow the ideal time for traders to accumulate some bitcoins to trade. Price might fall but I will not get surprised if the recovery will happen since this is what bitcoin goes after the price of it dumps.

I can say I was shocked yesterday. From $39k a piece to 35k in just a matter of hours. That gave me the chills and thought about what happened. Who sold their coins? A lot of coins in hours difference.
I don't doubt Bitcoin to be back at $40k but that kind of movement scares the living shit out of me. There must be some explanation about what happened because I was kind of used to slow dumps these days.
Whoever sold it has way amount of BTC to shake the market.

This is the best approach, a long term holder does not really need to worry about the possibility of a drop and instead they can just hold their coins and if the drop materializes then they can take advantage of it by increasing their bitcoin holdings.

However this is something that it does concerns traders as at least for the moment it seems an upward movement for the price of bitcoin seems unlikely, so if they are using leverage and bitcoin goes below the 35k resistance level then they could suffer massive losses if they do not use a stop loss.

Bitcoin price has dropped and is currently trading at around 35.9k. The fear indicator shows that people are panicking if further loss of the 35k resistance, I think it will cause panic sell and will drag the market to the new bottom.

The current price is already 50% lower than last year's ATH, if someone intends to buy more bitcoin this is a good time but we should not buy all at once but use DCA strategy because the market is very bad, I think it will keep going down.

It doesn't really matter. Those who claim to be experts also don't have a clue. All they can do is make shots in the dark and hope they hit something, so when the light comes up they can say "I told you so"... and then sell their "trading courses" to idiots who think they really predicted that last move.

I'm only sure of one thing. Another bull run with another ATH is going to happen within the next 3 years and It would be a crime to miss it. Whether it goes to 32 or 25 along the way will not matter in the long run, just like most people don't even remember the covid crash today.

They would really be making theirselves called to be pro's on the time that the price had really come along on what they had predicted.Its not really that surprising that these people would really be making out those

claims which is totally bullshit or not really that right to believe on but surprisingly there are really newbies around which do really able to believe that these things were possible or they could really read up on where

price would be actually going.If the price would be going below 32k then my funds are already prepared on catching those cheaper coins.

Potential for price to go down even more is a very valid concern for people who are holding coins. I am not saying that we should end up with something decent right away but I believe that all these fears about the price dropping are blocking people from understanding the potential we have right now. I mean think about it, if the price is low right now and could go down even more, why not buy it as it goes down, so that you could profit a lot when it goes up?

I have been saying this for days now, and said it before, the price drop is not a curse, it's a blessing in disguise because it gives you cheaper and discounted bitcoin that you could sell later on when it goes up, and it WILL go up, there is no risk there, we just don't know when.

     Yep, bitcoin right now doesn't look good. I think we may go as low as 34,400 something then 30-33k range. But I'm not so sure yet though. What I think is that there definitely be a huge jump up one of these days. Still looking at shorter time frame to get some idea where we are about to go and with a couple of confirmations, I may start opening long positions or short positions again. By the way, great prediction. I hope the people who saw this earlier were able to take advantage of this and gain a few profits.

How did you know? Sure it falls from over 40k down to this current price we see right now which is 36,xxx.xx k (at this moment of writing) But, I don't think this will continue to what you guys are expecting as that price is too much low already. We are supposed to experience the opposite thing right now or the pumps and not the dumps.

What information do you mean? Is the news included to this? But, what if there are positive news that will come out? Will it still won't affect the decision of btc? Speculations are always there and you don't need to wait for the value to drop more if you want to hear them out. You can just look around you.

This can happen, but for now there is little recovery and the market is getting stronger. The massive sell off is from the short term holders making minimal profit. For this reason the price have come down close to $35500. If the sell off continues the price gets pulled back to $32k. Now the price of bitcoin have recovered a little, but this doesn't look like a transition of market trend.

I like to think the other way around, the traders had high expectations about the market and even i was surprised when the market gained momentum and touched an all time high valuation of $68k which i did not anticipate before the bull run started. I am still expecting the market to go down below $30k and it would be great so that we will be able to purchase something for the next bull run which i am only expecting after the next halving ;).

The market is still bearish, if it will recover, it will still continue to slowly drop again. However, there's nothing to worry as it's normal in the market to experience a heavy correction after a long bull season. It's just part of the cycle, and to see the price dropping below $32k, it will likely happen, and we might even see bitcoin going back to $20k level, but don't be surprise.

If this goes down to $32k then could this be a transition trend for the worst? We are indeed in a bear market now, and we are struggling to even have a good support at $35k and this could be broken in the next two days. So I will reckon that we are going to see and sit at $32k price. Might not be a good view for us, but we will have to accept that the bear market is coming or we have entered that phase already.

This analysis is honestly as good as astrology.

TA is pretty much just overlaying a bunch of irrelevant graphs on top of the price action to show whatever agenda the person drawing it wants to show.

I do agree with the sentiment that potentially BTC can drop down into the $32k region, but I do not really see why people are so panicked right now. Prices are fine and still above the ATH set in 2017 back in the days - this selloff was imminent, and a lot of overleveraged traders will get liquidated if they are not careful. But this is also a great buying opportunity for those who want to enter the crypto market.

Or a good buying opportunity for us all. In a few days the market has dropped from
$40k back to just above $34k with a slight recovery happening ATM. Its hard to
tell if we drop further to $32k and beyond or pump up.

So in my mind its buy now, if the market shifts up, great its a win, if it drops - buy more.

As magneto posted above, no need for panic, there are always opportunities.

Yeah, this is the best thing to do right now, take this negativity and make it positive by buying cheap bitcoin.

Price is now at $34k, buy some and then wait till it further drops to $32k, then buy more. That's what smart investors are doing right now, buying at the dip and holding. If we could just practice it at this price level, this will surely give us a huge profit down the line.

Today bitcoin dropped more than 2% to around $34k, I didn't expect bitcoin to continue to drop, there was a lot of speculation that the whales were putting pressure on the price to drop so they would buy immediately, and unfortunately some of my assets like MATIC and BNB also dropped significantly and It looks like the past few days have been a tough one.

Hmm, maybe it just weekends that somewhat the blood shed has stop, but we can still go down in the next 2 days if investors continue to sell or panic because of what is going on around the world.

Most altcoins rely on bitcoin, so if bitcoin goes down, most likely the top altcoins as well like BNB and MATIC will follow.

Yes, it is a tough week for us, nevertheless, if you have seen this is the past, you won't be intimidated by it. On the contrary take advantage of the situation to BTFD.

I think, it will happen to bitcoin price drop in the $32k area.Because bitcoin price continue dropping this month.Bitcoin price already touched $68k in 2021 but it early dropped. Can bitcoin price  will be surprised us this year?what do you think?I think price will be recover this year.People still believe in bitcoin investment cz bitcoin is most valuable and most popular coin.I hope bitcoin price will be more grow this year.

It looks like it has stabilized at $34.500 at the moment, showing no particular movement for the past few hours, after crashing down to $33.800. Although, I believe that it's highly likely that it'll continue falling and settle at approximately $30.000, before seeing any positive market movement.

When it comes to technical analysis, one thing is for sure: Bitcoin is not going to the moon any time soon.

Think of this prediction as a cautionary tale; the market is going nowhere but down for the time being. However, not everyone should worry about the bottom, as the market might bounce up again in the next few weeks. The best approach is to trade based on the trend and not on emotions. It is impossible to predict the market with certainty but it is always possible to find trades that are profitable.

I agree that we are already pretty low, we were 48k just recently as we all remember, and then we crashed so hard already from that level. From 48k to as low as 34-35 levels at the bottom, now that we are recovering a bit, I have to say that it is not really that much of a trouble for us to recover and go back to 40k+ for the time being. I know that it is not going to be that easy, but it shouldn't be that difficult neither.

I believe that recovery should be coming very soon, maybe not in a minute or two, but it should be somewhere close and I would guess that in May, or maybe early June, we should be getting that 40k+ price, and before the year ends, we will probably see 50k+ happen again.

Well, it was still uncertain next week but there is one thing we are sure about is that the market will recover soon, yet we don't know when. That is why patience is very important, if ever the price of Bitcoin went down deeper it is an opportunity to buy more. It is everything has a reason and another chance. So instead of worrying (as usual), we keep ourselves calm and set back.

---

I'd keep watching the market and set a buy option when it reaches $32k, something that I look forward to before the pump comes.

By looking at Bitcoin's performance which has continued to decline in the last few days and now it has touched the price of $34k. I think it is very
possible in the near future Bitcoin will potentially drop to the price of $ 32k. But that doesn't mean we should panic if Bitcoin's price actually drops
to $32k, because for me the decrease in the price of Bitcoin to the price of $32k is still very reasonable, if we look at the previous year the price of
Bitcoin has gone up very high. Because after all we can't expect the market to always be bullish, sometimes the market needs to be corrected to be
able to give investors the opportunity to buy Bitcoin at low prices, and finally after many investors start buying Bitcoin will make the price of Bitcoin
rise even higher. That's how Bitcoin works, so we just have to be patient if the price of Bitcoin continues to decline. Because surely the price of Bitcoin
will go up again, and only patient people can make a profit from Bitcoin.

Better be ready mate, as we are almost at $32,000 now, this is another good time to buy if that reaches that price.There's a lot of uncertainty around, the war is still making noise in the background and then the FED's announcement really shook every known financial market in the world including outside of the US.We just have to think that we are in a bear market so that we won't panic when we see the price going down dip to $32,000 or even lower.

Early may i couldn't believe that bitcoin dropped below $40k, but it did and even the current price is around $34k, this makes a lot of investors panic so that it keeps the price going down, i suggest that now is the time to buy not sell , if the price skyrockets then it's time to sell not buy.

it did not take a week after your post that made it more lower , actually it is not 32k but we fell down to 29k but in short period of time only.
so it seems that we are heading towards more lower in the next coming days or weeks.

But thanks for this thread as I have seen this thread last week and come to manage selling 1/4 of my Bitcoins and keep them to Buy more when the price lowered to below 25k .

Ok, so we're right in the drop zone right now. Again. Thought we might see a bounce after 29k but turned out to be absolutely and pitifully weak, we've just slid right down about 6% and might even get a new low in next hours, and then I'm really not sure if we survive above 25k by Sunday.

^No news update can save this current flop. Hang on tight.

It is very surprising to see an abrupt change in the trend...
https://i.imgur.com/H0rarRa.png

This is what we wait for, I guess. That time has come and I hope I expect a surge in buying demand than panic selling.
The market looks very interesting this time, we never know how long it reaches the bottom. I was thinking of $20k. But I don't think we have to wait for the moment before we buy? No, it is not necessary, it is rather to take this opportunity rather than lose it.

Finally the price has dropped drastically now that it touched $29k and looks like it will continue to fall.
On the one hand this is a good time to buy more bitcoins while on the other hand, it panics a lot of people in the market because they didn't expect the price to hit $29k.
But we can't do anything about it because the market has given a clear price now and then depending on how you can use it for you.
This week has been a tough week for bitcoin but I'm sure after this, the price will definitely increase.

On top of that, the whole situation with Luna and UST isn't helping, and certainly became the icing on the cake. This incident also creates a distressing situation environment regarding cryptocurrencies, which will have a devastating effect on the market in the long-term as people will deem cryptocurrencies as manipulated assets, ponzis and scams.

When the price of the food was increased,no one is worried due the economic crisis.But when the prices of crypto currency was reduced,many people worry about it.The reason behind this is very simple.Most of them are the investors.After the break of the 32k area,the price of bitcoin was reduced huge below the 30k dollars for now.

I am pretty sure that it left an open door to many people though. I mean it is not the greatest situation ever, but it is not as horrible as one might think neither. It allows people to actually see the open door and get in there and make more profit. Sure it's down right now, but it is an artificial down, the market is down because of Luna and we all know this.

It means, either we will start to ignore Luna as a whole market, or maybe Luna will recover a bit, whatever happens next, we all know that it will not be that bad, and when that happens, we are going to go high, and people know this hence why they are buying while it's going down without fear of catching a falling knife.

     I am also hoping that the 26k+ wick a couple of hours ago would be the new low and that a good recovery would happen. But yes, just like you I also see bitcoin going as low as 21k-20k+ levels. If the selling pressure continues and the bulls still don't take action, we may really see these prices again. But, as unpredictable crypto is, I also am expecting a move upwards half way through the month. So being in this unpredictable market, continuous accumulation and DCA is the most hassle free and effective way to gain profits in the long run.

And it turns out that this morning we actually saw a crash that was quite surprising where the price of bitcoin had dropped to the level of $26.5K. We can probably expect that $26K is the lowest level during this crash if traders don't panic enough in response to a correcting market. The big drop is a frantic trader response that might be due to FUD, but if traders are not willing to sell their bitcoins at a lower price then the price may rebound.

Yes, I might also consider DCA if I want to buy during this crash and it's a great option for getting more bitcoins when the price drops lower. Accumulation and DCA are good investment strategies when applied when the market is crashing, so I support your opinion.

I do not see it going down that long, the Luna deal is basically done, they have dropped like 99%, how much could it lose, how much money could get out of it? Luna team basically milked every single cent they could from it, and they are now emptied, they can't sell more to make more money to recover USDT.

The weird thing is, from here on out, I am pretty sure that UST can't be saved neither. They sacrificed the price of Luna in order to keep UST a bit higher, but now that Luna can't help them, they can't defend UST neither. So, the drop in bitcoin will stop, Luna will not recover, UST will fall and everything else will go back to normal.

Yeah, I'm not sure Luna had much to do with it (or Terra or UST or whatever, can't really be super bothered to find out). Sure, they had to dump 1.5B dollars of Bitcoin if the news is true, but I never heard of them propping up the market when buying it either no?

I mean sure, they've probably not helped sentiment but at least it's helped us see if we're getting a floor -- doesn't look like it though.

So far the selling pressure has stop, but I doubt that we have seen the floor price. There could be another triggering factors that will push the price even further in the next coming month. I would like to see the price to somewhat in the $20k level, our previous all time high in 2017. For me that is the big opportunity to somewhat fill our bags, if it goes down hard again, good, if not still a win-win situation for us.

I think we can say that the selling pressure has stop if we goes back above $30k. But so far we are having a hard time as it just fluctuates around the $28k border.

What a week for bitcoin though, just last month we have a good run, and not some factors affected it's decline. Nevertheless, if we as speculators have accepted that we are already in a bear market then definitely we won't panic at all and instead buy at this dip.

I would say the proper fix to current decline will be proven in stages.     The ideal standard would really be to trade above the 50 day average alongside any other judgements to price level and volume occurring vs the inevitable profit takers along the way.
  30k is not enough, to me thats just the underneath of the ice and I would still apprehensive of futher trouble.   If you fall through the ice, how hard is it to get back out that would be the action and energy required to recover I think it wont exactly be easy to do so and typically after a low BTC needs to catch its breath a while imo.
https://talkimg.com/images/2023/06/12/Ascfg.png
This is quite a severe decline for whatever reason, a big test to pass

After terrible week we are once again slightly above 30000, it was a difficult journey for a lot of people especially those that were trading altcoins, shitcoins, those using leverage and those that were holding luna.

It was not easy for bitcoin either but we knew that at some point the selling pressure was going to relent and bitcoin will have an opportunity to reach 30000 again, now the question is where do go from here? Will the price remain close to 30000 or will the price go up again during the next days?

^^ From the looks of the trading volume, I don't think it will be just a easy sailing to reach $30k or higher. The consensus is that expect more selling throughout this month as indicators shows that we are still very bearish despite hitting $30k.

And if I'm not mistaken, this is the longest that we have seen of red bars, straight 7 weeks. Indication that this decline might continue as we haven't hit the bottom yet.

     Welp, at least we had a bit of a sigh of relief this weekend. And at the time of writing this post, the price is at 30k+ which is pretty good in my opinion. I hope in a couple of hours as the Asian Monday starts, we'd see a good pump in the price of bitcoin and would continue to go up all throughout the week. Although, I think a pull back may happen but I am keeping myself positive right now, lol. Not jumping into any trades yet though since I am still waiting for a good daily close plus a few good confirmations.

The graph you made two week ago turned out to be true that bitcoin fell to the $32k area. I had thought that the bitcoin price would not go down to the $32k level but it turns out that what we are seeing at the moment the bitcoin price continues to weaken and move bearish until it drops to the $29k area. It is likely that the crypto market will continue to decline and the price of bitcoin has the potential to drop to around $25k in the next few weeks.

And we are still in the $29k area, unfortunately, there is no strength to even manage to pull above $30k although there are moment when the price hits $31k but no momentum whatsoever as investors continue to sell.


Most likely this month will be horrible to us, possible to drop to $25k if the selling pressure is still there. As I have said, 7 weeks in red candle and still counting, that really bad as far as technical indicators is concern.

Anything is possible at this point, however while a price drop to 25k could happen I do not think that we are going to remain there for long as institutional and retail investors will simply buy all the bitcoin they can at those prices.

However it is also difficult to see how a recovery could happen. as even if I think that luna is finished already and it is not going to recover this is a process that will take some time and it will bring unnecessary FUD to the market.

The price was spotted being stable at 29k and it's been here this past days. I guess this was the latest support for bitcoin? But like we witness last time, there is still a tendency that the price will go up after a few days and then drop below 29k again. The 25k that you said is possible.

There are even threads here which states that bitcoin can plunge 23k to 21k. That's pretty low and maybe that is what the lowest btc price can go within this year if ever the correction continue's. For those who want's to buy, now you know if what to expect. Just don't be greedy and expect beyond that points because I haven't seen anyone predicted lower than that.

Has exceeded $32k this week, Bitcoin is down, I believe Bitcoin this year can touch the $25k level, that's my belief, but we will see the actual results, until the lowest level, I personally will wait further down to invest in Bitcoin.

waiting for a deeper decline I think the right choice to invest, I think about the decline now as it was in 2018 but if it does happen don't ever doubt that Bitcoin will recover in the next few years.
I myself am also waiting for a deeper fall in the Bitcoin price to buy some and invest long term.

Cryptocurrency market conditions really do not generate enthusiasm for investors large and small to enter the market, Crypto corrected in quite a long time for now, bitcoin also has not shown an existence in a suitable return, let alone other coins that do not have utinitas like bitcoin, I am very doubt that this year the crypto market can give a positive reaction, the possibility that this year the market will be volatile again until recovery without pause

bitcoin had fallen yesterday to a low of $28k and is now recovering back to $30k at this point. My suspicion of bitcoin price falling below $32k has happened and now it has got support back to $30k or grew by 2.36%. seeing the current conditions I'm a little excited and hope bitcoin doesn't drop below $30k again but it's still in a less sure status too. will bitcoin regain strength to break above $32k again.

We will have to see how things evolve, right now the market of cryptocurrencies is showing some temporary correlation with the stock markets that have been going down during the last weeks as well, and if to this we add the disaster of luna then it is not difficult to understand why the price went down.

However if yet another black swan hits the market then that is when we could begin to see bitcoin reaching a price of 25k or even lower, as many people are still holding their coins but if anything else were to happen I would not be surprised if they sold their coins as they will not be able to endure yet another drop in the price of bitcoin.

Now Bitcoin is at the point of $29k traded. This means that for 25 days Bitcoin continued to decline and did not stay at $32k.
There are also those who speculate that Bitcoin will hit a price below $10k if it hits $30k like Scott Minerd who told CNBC that Bitcoin could drop to $8,000.
This is the source (https://www.coindesk.com/markets/2022/05/24/guggenheims-minerd-says-bitcoin-will-drop-to-8k-we-checked-his-record/) to read.

Although the Bitcoin price decline is still ongoing and far from expectations, sooner or later, I still believe that Bitcoin will again achieve an increase to reach a new ATH.

^ I don't want to listen to those so called experts, because I doubt that the price will go down below $20,000.

The lowest price that we can go is maybe the previous highs from 2017 and that will be the final capitulation. That is if it ever happens and assuming that all market are going to hit hard in the next couple of years. But we all know that even the Covid-19 scare in 2020 didn't deter the market price. We could argue that it is a bitcoin halving year but the effects on the price drop is going to be short term what ever that factor maybe.

We may still see some instability in the markets as the new luna was released recently, and if the market follows our common sense then speculators will try to pump the coin in the short term only for luna to crash again, and this time in a definitive manner, all the way to zero.

If this process takes a few weeks then we can expect the next weeks to also be difficult for this market, but after that I do not see many reasons for the price of bitcoin to see such a large drop.

Nah, I don't think the new Luna release will again put a dent in the market. Altcoin market is so volatile that I don't think that bitcoin investors are going to touch it after what really happen on that debacle. And as I have pointed out in previous post, the market will go on a bearish trend and we really don't know the bottom price. It's just maybe the Luna really put a toll this early, and I would add that it's good though. At least we all know where the market is really heading and this is to be expected.

your speculative post is not even close to what had happened because bitcoin not only drop to 32k instead below 30k and almost fell down below 25k .

but assessing the movement of bitcoin since early May and now Early June? both as dumping and continues to lower the value .

so Maybe we are looking for more lowered positioning in the next following months .

Sad to see that it already drop below 30k$ area but it does not mean that it will stay on that price maybe few weeks from now we will saw btc above 35k$ for now i think there's no need to over think on what is going on in the market we need to keep calm and think about the future so i will buy few altcoins that is also in a downtrend situation and hold till btc market become stable above 40k$.

^^ It did drop, but we have recovered already at $30,730 based on preev.com. Anyhow,$32k-$35k might be the biggest psychological barrier right now, and with the way the market is moving, with a slight negative news that is not even related to bitcoin affects us (like the Binance investigation), the market will suddenly go down. So hopefully we could just be in the $30k range and trade sideways, I will be happy about that instead of the $24k-$25k drop that others have been predicting.

The bitcoin price prediction on your chart has taken place. Currently the bitcoin price is trading around $29k-$30k and the market is still in the red. Therefore, if you look at the previous price pattern, the potential for bitcoin price to rise back to the $32k area is still possible in the next few weeks.

Making a recovery is the main reason why bitcoin has so much trust by other people as well. You have to understand that crypto is not a thing that will make sense to many people, there are tons of ups and downs that would be a lot of problems for people who do not understand the market. They see it go from 31k to 30k and they are fearing that the price will keep on crashing, then it recovers and they are shocked how quickly it went down and then went up.

I have to say that the best thing about crypto is the fact that you could make so much profit with it, if you know what you are doing and you have a little bit of patience to go along with it, instead of fearing each time it drops.

Almost 3 months we are under $32k, of course this is a long time to immediately see the market rising again, many impacts we get when the market is red, for example, are many projects that fail to reach softcap and of course this has an impact on bounty hunters.

The pattern seems to be seen earlier.
And kudos to the OP, who has predicted with 90% accuracy.
Now only the Bitcoins will break the resistance when it passes 33k usd mark.
It won’t be any longer I feel, just few weeks and we will see again Bitcoins at 40k usd almost.
I can request all the other traders, not to sell their Bitcoins, if possible hold it for a little longer and enjoy good profits.

Bitcoin has dropped below $32000 and is now at $28500,
I'm really worried because my portfolio has also been dumped because of this bear market,
Bitcoin dump = altcoins are also dumped, I don't know, should I cut losses on my investment?

I agree that it shouldn't be hat long, we will probably see it during June for sure. The resistance is hard to crack when everyone is fearing the bear run, and we dropped here so the work so far has been stopping the fall, and that took all of our money to do that. Now that we are stopped, and do not go down, time to start working towards going up can start.

We could either go right through the resistance levels, or it may take a while as well, we are not sure about what is going to happen. But, all I know is that we are definitely going to end up with a big profit eventually and the price will skyrocket, all we discuss now is "when", not "if" anymore.

Seeing the current price of Bitcoin has touched the price of $ 20K+ and of course this could have continued to decline below that price could have happened and no one estimated that this would be like this.
You don't need to panic, friend, if indeed you are currently holding Bitcoin, still maintaining because there is a time where Bitcoin will increase, so there is nothing to do. Now you just focus on other things, let Bitcoin do something according to its time which will increase by yourself.

Some says that the bottom is near so this means that 20k is not the final crash but there's more to come. Oh my God, this is bad as this can scare more people but the situation is still in control for those who believes in bitcoin. They in fact like this because they can buy btc at cheaper rates once again.

Many people didn't expect this but there are a few of them that already saw this coming. They based their prediction on the year of 2018. There's a a thing that we can do for now, that is to buy and continue hodling. If we are worrying then leaving the market for a while can help us a lot. Btc doesn't only increase by itself but it needs the support of the public.

I kind of expected it, but certainly didn't expect it to happen so quickly. To be honest, I believe that it's going to follow the same pattern with 2018's crash, taking more than 2 years to recover. I'm not panicking at the moment, however, it hurts me to see how much value my BTC has lost. We'll have to wait it out, I guess.

Panic is the enemy of profit if you ask me. Anyone who feels panic because of this drop, could make a sudden and unexpected but a wrong move, which would result with them regretting it later on in life. This is why I believe that we should not be accepting any panic in our life just because crypto dropped.

I have seen people with anxiety crisis let alone panic, just because crypto went down, people who committed suicide after Luna deal, all because they lost a ton of money. Why would you risk so much money on Luna? Like what was even the point of investing that much on Luna? I get bitcoin, but luna??? Really? So panic is everywhere in the world, because people make bad investments at wrong times.

^^ Maybe your technical analysis is for sure no longer validated by now. Your thread was open up months ago and obviously many things have change by then. So maybe it's time for you to have a new TA and see where we are heading.

For the recent price movement though, good to see a good recovery to $21k again. We went $17k-$21k->$19k this week and then back to this level again this weekend. So hopefully no more dumps and maintain at this level at the end of the month.

There are so many factors that influence the movement of Bitcoin, so we really have to do technical analysis on a regular basis. So that we can
predict a little more accurately, especially since there are so many surprises that have happened this year, making the crypto market more volatile.
So the more often we analyze the market, the better for us to know where the market is going. So don't be too hasty in a situation like now to make
a decision, we have to monitor the market and analyze it first. But indeed the market looks better after Bitcoin managed to return to the price of $ 21k,
but we should not be too happy to see that. There is still a possibility that Bitcoin will still drop below $20k again, so stay alert and always do
regular analysis, in order to make the right decision.

Bitcoin price is currently in the $21k area buddy. I don't see any sign that the bitcoin price will hit $40k again this month because the negative sentiment in the market and the large increase in interest rates have greatly contributed to the decline in the bitcoin price.

The effect of the Fed's rate hike not yet seem to wear off at the moment, so it's hard to say if the market will recover quickly, bitcoin is currently relatively stable and playing at $20k-$21K, and it's very difficult to see the price return to $40K in the near future because there are still many negative issues that hit bitcoin at this time.

But, the 32k that he mean was in may (last 2 months ago) while for now, the price only sits at 23k so we need 9k more to be able to get to 32k. That was possible but I think that will happen around october to november since many saying that we can end the year with a 35k.

Of course not but there's actually people that think the value can drop because we are done with the bull phase last time and it is usually followed up by a bear. This drop we have now is in fact still small but people are expecting for a 13k or even lower than that. This is the reality when investing in cryptos so one must accept it if they want to earn because a dip like this is still an opportunity that will be used later on when the pump comes back.

Can't wait to see the price of Bitcoin immediately returned to $ 32K, I'm sure if the August can return to the level of $ 30k, the end of the year can pass ATH that had happened in 2021, as long as the price is still cheap then I suggest to continue to buy.

I think 32k wouldn't need to be in a long time later, it could happen somewhere close. Won't be an easy ask, but it wouldn't be too hard neither. I am guessing that the best thing do right now would be making sure that we do not drop. If we do not have a bear month then it means we could maybe make a bull run as well.

This is of course just a guess and we may not know what we are into right now. If the price starts to go up, then being 32k soon is not that hard, it could take like maybe 10 days to get there and we are already at the start of the month, not too well into it. Sad to see the conversion go from "going down" to 32k to "going up to" 32k dollars in just span of a few months.

agree, your friend is right, indeed the market has corrected since the beginning of the year and is at $32K indeed since the first week in last May and doesn't seem to be moving better to get past that number, but there is an increase from June which is in a position below $20 K.
but about the many failed projects, not always because the project failed to achieve minimal sales, but because of the Dev factor who was really naughty by looking for a moment's profit, but I agree that apart from investors who are losing money but bunty hunters are not even worth getting the prizes they receive.

Well be hard though, we are lucky that we didn't see the price still go down after hitting $17,500. And others says that the TA pointed to the direction that we might have hit the lows already.

But it doesn't mean that $30k or even higher is in the horizon for us, we are still in somewhat turbulence area, $20k might be the supporting lines for now and hopefully it can hold as long as it can before we will see a positive break out run before the end of the year.

Good adherence to a positive trend for 7 days now and back above the weekly average also, seems we continue positive.   Highs are suppressed still and we need to break resistance looks like, we are nowhere near the range from the OP chart but I think we can challenge that area once past this current action.

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

As always needs a qualifier to the statement, 23k is quite clear on the lows here.   Failing to hold that negates the positive conclusion from the last week.

The bitcoin price is currently in the $24k area and is still forming a bearish flag which will result in a further bearish potential. I can't recommend buying for now but if the price breaks through the $30k level in the near future, then the potential price will go up quite high and it's possible that the end of the year could touch ATH again.

yes .... for those who are always with bitcoin, whatever situation that happens to him as of now, will not shake to keep holding bitcoin until the time is right to do with bitcoin. although it is possible that the price will continue to fall below the $20K price. You are right, my friend, that many people like this, of course, the opportunity to continue to buy and hold it

it is clear for the development of new projects with the decline in the price of bitcoin, will make them afraid of being affected by the tokens that will be sold, as well as other coins will continue to decline. but this is something that bitcoin holders are also waiting for to hold on to and if they can continue to increase purchases, remember also holding on longer will make bitcoins will soon be able to rise from the slump, don't sell because it triggers the price to continue to fall.

Wouldn't it be better to buy at a slightly cheaper price than wait for the $30K level? because I think it's still very profitable if someone is willing to buy Bitcoin now before seeing the $30K level in the near future. Although that level may look very tough to happen in the near term as Bitcoin is only moving at $24K - $25K levels right now with no sign of rising to higher levels than now.

Bitcoin has dropped, even reached $17k in June, of course this makes the crypto market very volatile,
especially altcoins, and $30k is the hardest resistance in my opinion, but I still believe bitcoin can reach $32k again

The momentum of Bitcoin movement has begun to subside after last week was seen bullish. Currently the Bitcoin price is trading at $23.5k.
It takes calm in the face of market conditions, especially Bitcoin. The decline in Bitcoin price this time is the fourth session since Wednesday for several reasons. Technically, the Bitcoin moving average is in the strong selling category this week according to Tradingview.


The crypto market is indeed very volatile, so it requires strong analysis to be able to understand well what to do when faced with conditions like the current situation.

I think so too, it's time for us to use a strategy, don't In 3 years will think why oh why don't I buy when it reaches 20k.
therefore have an investment strategy and stick to it. Take profit when you can, buy more when you can and do nothing when you can.
Eliminate emotions and apply logic.

For the last few weeks till now the bitcoin price has been trading in the $20k-$19k area. You need news updates to see price movements in the market. Even when I expected the bitcoin price to drop to the $32k level, it turned out that the bitcoin price had dropped to the $18k area. Therefore, even though the bitcoin price has slightly increased above $20k at the moment, it seems that the price recovery has not yet fully occurred.

to be honest I think to reach $32k is very difficult in this year. the bitcoin price has been stuck around $20k for so long, we don't know if the bitcoin price has bottomed out or is just a temporary stop. I mean temporary stops like when the bitcoin price was around $40k and $30k, because at that price range the bitcoin price was also stuck for a long time.

The expectation $32,000 is a high one compared to the present situation, but who knows there will be a surprise on the way, the market is very unpredictable. I have read a lot of predictions on the forum and people believe that we reach the bottom of this bear season, which is $ 17,000 in June. Currently, Bitcoin is stuck around 20k$, which is a good thing according to everyone's predictions. If bitcoin loses this resistance then I think it will be dumped again and possibly find a new bottom. I don't expect that to happen although a drop in bitcoin is not necessarily a bad thing.