Bitcoin Forum

This week started with a high, not after bitcoin price went to an all-time high off above $50k, which is the highest price since May 2021, before dropping to $49k in the early hours of Tuesday this week.

Since then Bitcoin has been trying to climb back to that $50k benchmark but have faced so much resistance till this very moment, various analysts have predicted the price to stay above 50k this week but as we are all aware of the volatility in the Bitcoin market the week resided between $46k to $47k price with strong resistance.

What are your views on this, is the Bitcoin bull run tamed already or just gathering some momentum before breaking the limit?

I think the decline is to better rise. I still think the bull market will continue.

Remember months ago when bitcoin tried multiple times to break the $20k barrier but couldn't for a while? Yea, where are we now?

I'm not saying that it's guaranteed for bitcoin to break up $50k in the near future, but it pays to be patient. :P

The present pullback is just a temporary price set back which will be over soon if you have been monitoring the entire market you see that even when Bitcoin price falls back to $47,000 the price of ethereum and other altcoins were still gaining before, they finally join the pullback in the late hours of Wednesday. The present conditions will not last long before the next price breaks out, which will cause a new all-time high for Bitcoin and other coins in the market.

As of now 11:45 EST 26-Aug we are still up 2.75% over the last 7 days.
And we are 20% above (giver or take) where we were 30 days ago

Yes we are off of our highs, but that is just the nature of the volatility of BTC at the moment.
And lets face it we are 4X what we were 1 year ago.

-Dave

Now that bitcoin's going in the red, they're starting to get out of their dens and try to put down and make negative stuff about bitcoin when clearly there's no reason for them to do so except for a temporary gratification. To be honest, this dip in the prices after reaching 50k makes for a good sign that it's going to be bigger in the future so I agree with @mk4, it pays to be patient.

Without any effect to threaten continuation of the downtrend, some guys are digging up old stories to create fud and the market doesn't seem to have the strength to fight, but it's like a "fake dip". I am still optimistic that there will be a mysterious fall and a very strong increase.  This is the last doubtful possibility to end August.

I also think so that the bull run is not tamed yet. In this time Bitcoin price is so much volatile. This price increase some and decrease again. I think this is happening for making a new highest. I think Bitcoin will hit a new highest price of all time. This is the time to buy some Bitcoin and hold them tightly. Hope anyone can get huge profit by holding Bitcoin.

We will see some momentum going forward how strong bitcoin will reach its limit because for me the current bullrun is not easy to tame even more the resistance is there but it will wait for the right moment.
Maybe I'll be a little patient in the near future to hit $50K again, I'll see how this resistance before is even more skewed in the right direction where bitcoin will bull again.
But the support stage is $45K this will be a low point.

Agreed. Despite the market looking like is struggling it is necessary for it to continue on what I suspect  to be the second wave of the bull market.

All, I'm saying is that it has done it before and now it is no different. It just requires a little more momentum which this time may be coming from retail investors... Only time will tell  :)

I don’t think so bitcoin is not tamed as the entire cryptocurrency market suffered some loose in the early hours of Wednesday until this very moment. In the coming week, bitcoin is going to recover fully. The only advice to every holder is to continue holding because September is going to be very exciting for bitcoin market the bull run is going to be in full force, just my predictions.

Historically, around 1 year after the halving event is generally when bitcoin prices correct and adjust downwards.

I think that we are nearing that stage right now, although timing the market is notoriously difficult and I don't think that anyone can do it with accuracy especially in a volatile asset class like bitcoin.

I would stay off buying any lump sums right now and stick to buying small chunks, but periodically and consistently, if you want to get into BTC for the long run.

Yeah, this seems like a fake dip or a bull trap but just like you I am optimistic about it that it would pump even more after the small dump. As I look at the chart it looks like it's going to pump soon but the possibility of it to dump is kind of small if you are going to analyze the pattern of its price movement within this month.

I hope $50k is not the final price before the correction start and we might back again to $30k+ or something.
Maybe that's just the bottom price for this year or nah I still don't know so let's just wait and see what will going to happen.

I'm still confident that the bull market will still continue to be fulfilled, and what we witnessed today was just a mere corrections. Several times we've encountered this scenario, and we need not to worry on this current fluctuations happening because if you learned all the previous chart patterns I guess panic won't happen on someone else. Recently btc price went down at lowest of $46k plus, hopefully it will recover up to $48k the next day if no problems going to persist.

the bitcoin market works as follows:

1 - whenever the price cannot break a great resistance, it falls to a strong support

2 - whenever the price cannot break a strong support, it goes up to break a strong resistance

It has been rise high and then fall a little in the past several days so I am not at all bothered by what seems to be a normal correction. The price is still well within a range where the next rally would once again try to leave $50,000 behind. I think the price would be consolidating around $47,000 and then attempt once again to convert $50,000 from resistance to support. If not, then S2F could be true and we will see Bitcoin's price around $43,000 come September. And then better days will follow in the next few months.

Nah, I don't think that the bulls have been tamed, remember that there are billions of bitcoin future contracts that are going to expired by today. So obviously, then want the price to go down a bit and that has always been the case if you are going to look at the price history in correlation about the expiration. So let's wait tomorrow and up to the next week, the price will go back again above $50k.

Gathering momentum. $50k is a pretty big wall imo but it doesn't seem like it would stop Bitcoin that much. Even if it did do so, I doubt it would fall off that much since the Bitcoin market right now has pretty grade foundations and support. I'd also reckon that once the market breaks out of $50k, it'd be rather easy to actually reach $60k, and only there would it stop to steady its growth. We've been up for quite a few weeks now so really, it stopping just below $50k is rather understandable, and heck, you always need that little bit of patience when dealing with the volatile market.

These past few days and upcoming days are crucial for Bitcoin, monthly candle close is coming.
A lot of people are waiting for this. I am also looking forward if Bitcoin will be able to close above $50,000 for monthly candles.

This current price level of Bitcoin looks good, more on sideways, as long as we don't see a huge dump below $40,000. Bulls are still here.

Hopefully we can close this month still in green candles.

Right, as long as the price is above $40k-$43k, the bull are still inside the market, maybe they've just taken a short rest. So I'm expecting them to come ride starting tomorrow up to the end of this month. And now as we enter the most exciting quarters again, the bulls momentum are going to be high.

We see a decline in Bitcoin and this decline could result in a decline of up to $44k but this decline will only occur if support is broken and if Resistance is broken the price declines and the price will return to bullish. However, my advice, When the market is in a downtrend, or when it enters a bear phase, you can short sell to make a profit or to protect your asset from a weakening price.

There is a Tug of war game currently going on in the bitcoin market where the bear-whales don't want to accept that their shorts lost them a lot of money so they gamble more and sell hoping they can make the money they've lost back.
The bull market is still ongoing after this little money grab scheme cleared the market from some of the weak hands.

I think bitcoin has not been implemented optimally for now, big momentum will happen again in the next few months, bitcoin continues to be attacked by people who have great influence and interests, I think bitcoin bulls have not been tamed for now.

There are several investors who can influence the value of bitcoin, continue to chase bitcoin prices to keep going up, even they are preparing some big agendas for bitcoin's survival at the end of this year, I'm sure by the end of this year bitcoin will reach fantastic numbers.

Frequently, this happens. Manipulation of whales, as usual. What just happened does not need to be explained. Summarizing the 24 market chart, the conclusion is quite clear- Big bucks are incoming! A smart buyer bought at a very good price. There was a stupid sale at a terrible price. The best advice is to stop overanalyzing microtrends or you will drive yourself crazy.

Keeping on the chance that Bitcoin will reach another new market height, I have to give some fate, though.
We are moving back close to $60k, keeping the momentum for a few months will certainly drive the market price for Bitcoin to break another record. Though I was not fully confident that it going to happen but showing such a positive response after a huge correction, that it looks like we are breaking the limit as well.

The kind of situation isn't new If you're in crypto space for quite some time already.
It tends to be like everytime Bitcoin has been facing a strong resistance, there will always be a short pull backs when It touches the level of that specific resistance level. Which kinda normal as traders will sell during bounce back and then accumulate when Btc falls about more than 5%.
Usually, when Bitcoin is hovering around a specific range huge possiblity that there might be another bull run. As you can see Bitcoin didn't fall below $40,000 again.

And we are not above $49k so quite some time now, after the price fall to $46k a quick bounce and a 3% increase is not that bad in a day. So yeah, we might attempt to break that strong resistance again this weekend and see if we are lucky although I think the trading activity today will slow day as it was a rest day for the majority of speculators. I doubt that we will go as low as $40k now, the sentiments seems to be very bullish with minor dump in a month.

Bitcoin will never be tamed, the bulls are always out there looking for the future and not right now, and that is why they can't be tamed. If the price falls to 20k in the next 1-2 month, that is still not enough to tame me, I would buy so much more bitcoins if I had the money, it is better for me because if I buy them cheap then I make more money, but even if it doesn't fall in price, I will still buy it, I wouldn't have as much bitcoins but I would still spend fiat to get btc because that is just smart.

Many people and now even companies think like me and that is why I believe that we will be doing fine, bulls will be buying more and more, sellers will sell as much as they can but eventually they will run out of bitcoins to sell whereas buyers will keep on buying bitcoin because there are more and more fiat in the world every day, hence more money to buy bitcoins.

It looks like the bull is tamed for now. Bitcoin price reached even $50k but we haven't seen more than that yet. Now, the price is having some difficulties in breaking the $49k resistance again. This is one of the critical resistance levels for the continuation of the rally I think. If it breaks the resistance, then we can see bigger levels in September I guess.

maybe the newcomers are the contributors and one of the cowboys who make the bulls tame at level 50k is what happens next is the thing that the audience is most waiting for so that the hope of the market's green grass grows more and maybe the old cowboys can also lead the bulls so they don't blush and angry so hard heading too hard and redden eyes

We have seen 49k+ on 27th of august, that is true you can look it up on CMC and that is a great thing because we were 50k on 23rd and we dropped under 49k on 24th and only 3 days later we recovered over 49k once again, doesn't matter how low we went down or not, it still recovered and that is a great thing.

I am hoping to see a lot better results hopefully, I want to see 50k as well, I want to see tons of profit like 60k+ or even breaking ATH and be 100k+, however I am also being realistic and say that going above 50k was awesome but going under 49k and going back up in under 3 days is an amazing achievement, much bigger than being 50k+.

We shall see what is going to happen in the future but I am quite happy about what happened in the past and I do not think that I would change it. Going up at all times is not good, eventually it leads to crashes, but having small drops and recover quickly is a proof of strength.

I think the problem here is people focus only on the positive trend because of the profit that comes with it and ignores the opportunities that open up when the price downtrend.
Meanwhile, the market seems to resist a downtrend but still lack the impulse to pass the $50K resistance level which is show a chance for possible bullrun.

If BTC is still near $50k and holding above $45k, then it does not invalidate the possibility of a second phase of bull run on continuation. We strongly believe that BTC would do wonders if it keeps on holding this area and gets accumulated because it will make this area as ground and continue higher from here.

Bitcoin will try that again on September the start of the Ber months and the end of the ghost month this year, a time again for Chinese to spend their money on cryptocurrency. Bitcoin have to sustain the $50k level for a great bull run again, as I can see we are still close to that price so we have a higher chance of bull trend again.

I have no idea about even if this is a bull run. So I can't say that bull is tamed or not now. In my opinion, this is some kind of a great rally and it is still not tamed. It just got a price correction and it is preparing to move on soon. It should be able to break $50k resistance level in a short time and go bigger in the next month.

I also don't think the current bull run has been successfully tamed, because the movement of Bitcoin is difficult to predict and there is a possibility
that it can fall very deep at any time. So we must always be vigilant when investing in Bitcoin, because there are many possibilities that can happen.
And always prepare for the worst case scenario, so that we don't get stressed if our predictions don't go according to plan. We do have to be patient
to wait if Bitcoin is able to pass the $50k price, if successful then the price of Bitcoin will rise to the next resistance level.

Hopefully next month would become a great commission for all coins including altcoins, while bitcoin bullrun starts a great rally. Pretty sure it would be a glorious day for several holders who been so patient in holding their assets. But, when that day happens for btc upon reaching $70k or $80k I think possible downturn also initiates due to profitable value.

$46k-$47k are still good prices to be maintained so if ever it don't stay to $50k which is didn't when it got back there, that's not a big thing to think and worry about.

We could be in the next phase after it had broken and got out of $28k-$30k too quick. We all probably thought that it would be staying there for so many months but it has broken those prices quickly.

We'll need a better run up then this to beat the highest prices and volume including sales in that area.   We did have a good trend but current BTC price action has passed and left that pattern of weekly gains.  Im waiting for BTC to prove itself stronger then some decline (https://talkimg.com/images/2023/06/12/AfK8H.png) in motion right now, look at 2 day or a weekly average price for some quick reference to this possibility continuing.

I have never believed in a bull-tamed Bitcoin market as Bitcoin a gathering momentum for the next bull season which will take Bitcoin to 100k price.

Bitcoin (BTC) has continued on a strong upward trajectory in recent times after bitcoin was able to break the $48k price resistance some time ago, I think bitcoin is now starting to defy all market opportunities and norms, so it can be said that cryptocurrencies especially bitcoin are starting to re-enter price discovery mode after a drastic drop. and maybe not even a tame bull that's the problem right now so it's likely that a bull rally will re-occur so that would allow the cryptocurrency to gain ground in contact with its final resistance before we see a possible new record high being created.

Far from being tamed, more like it's just resting for a little while and that could be a sign that it's going to rage on again in the near future. I do hope that I am right though, probably if people were to hodl for long and wait, maybe we can see it going much higher.

bitcoin has broken the 50k benchmark frequently and even at the moment, the price of bitcoin is still above $50,000, which still represents a full scale bull market.

The weakening of crypto assets today ended the strengthening trend experienced by crypto assets that occurred in the last few days. This is a good moment for traders to buy crypto assets at low prices. to benefit those who take advantage of the moment.

https://i.imgur.com/ivTnSwn.jpeg
At the moment, the Bitcoin price cannot go higher as it looks to be dropping towards the 9-day moving average. Although the candle is still not closed and it looks unlikely the bulls will close above it. However, if the technical indicators move below the 60 level, the market price may end up on the downside but conversely, a move up could meet resistance levels at $55,000, $57,000, and $59,000.

Still gathering momentum as of now, $51k and probably $52k tomorrow. So there is no wearing of crypto assets today or in the last 24 hours, on the contrary it's gaining momentum so far and within this month we might see $60k again.

The time to buy crypto cheap is gone as we will have to peak and double the lowest low this year around $28k-$29. So if we reach $58k this month, bitcoin is going to be expensive for average traders like us.

Well, if it's hovering around the 50k resistance.then problem bitcoin market is having a hard time doing what they have to do which is break through and set another point to stay or hover around. But either way we think of what's happening to the market right now, I don't think that we have anything to worry about as bitcoin's only way is up.

It touches $51k already, but we will see, we need to be confident that this price will stay for the next 24 hours and sustain it. And then we will look for the next resistance price which is around $53k-$55k.

Yes, we don't know to worry about, unless there is some negative news or fud that will come this month. So we are in a full scale bull run market and this could continue up to the end of the year.

I think the bitcoin price could hold out in the next 24 hours and it will look for any existing resistance and possibly lead to an existing one so it can make up for the next price, that's for sure.
But I'm glad it's above $50k which means a full-scale bullrun has already started.

Actually bad news about FUD there must be someone who always spreads this so that the whales can buy back at their low prices but if investors are stronger what they hold on to so far I'm sure it won't be affected by any dumping.

Here is my previous take of the decline during September 1st we had price acting below weekly average and looking weaker, this turned out to be something of a bottom pricing.  Longer term it seems part of an ascending range or channel to pricing on a daily basis.   A week or so later we are reversed in that outlook with pricing bullish and possibly we are at the top of the channel for pricing.  Not that I would guess price action adheres purely to my view but generally lets see how it fairs especially vs 2 day and weekly averages for momentum of gains.

https://talkimg.com/images/2023/06/12/Afo41.png

now the price of bitcoin has reached $ 52k after successfully breaking through the price resistance of $ 50k and if the market is in a positive state of course the price can increase again, especially now that bitcoin has been adopted by several countries in the world. although the analysis and predictions are not always correct but at least we are still optimistic that the bitcoin price will be able to reach its ATH again and of course what we have to do now is buy bitcoin and hold it until the bitcoin price is high again ;D

After you posted this, the price suddenly goes down hard to $43k, so obviously, we are not in the positive state in the last 2 days, although a good bounce to $46k has been achieved and it seems that we are green already.

I'm not sure what several countries you are talking here, it was El Salvador initially and we haven't heard any country to follow. But I wouldn't say that the bitcoin bull run has tamed, it just hit a wall right now.