Bitcoin Forum

May ended down around 7% which isn't really that bad imo.  I was expecting worse as you guys know how the saying goes...  Sell in May and go away.  Lol.  There were some sell offs here and there but nothing too serious like a huge sell down after a leading exchange getting hacked or their founders stealing from their own users, etc..

Overall not a bad month...  For a red month that is.

So if sell in May then June = Moon?  ;D  What do you guys think?

https://i.postimg.cc/vTwp2J5f/6-C0-ACDC6-4086-4-F7-D-A919-CFAA401-B3-EE1.jpg

We should not also forget to continue our fun discussion on Bitcoin price guess for 2023 (https://bitcointalk.org/index.php?topic=5432571.msg61524977#msg61524977).

As for the month of June, bitcoin may remain less volatile in my opinion. I checked the monthly BB and I noticed that it has been three months now that bitcoin has been unable to go beyond the middle band and slightly going down in price, maybe bitcoin may not go up further but I am expecting it not to go that high or low. The price will be less volatile this month.

I voted for sideways, I think the bulls might have been exhausted for the last 3-4 months or trying to push the price to $30k. And we have the BRC-20 ordinals that has been clogging the network for sometime now that might have cause investors to be wary and not to pour their money on the market for now and till this month.

And history June lean on a bad month, so I'm not expecting significant movement, perhaps highs of $29k, but that's remain to be sign and it will depend on the sentiments of investors.

There was a lot of pressure on the market in May, just as there were different speculations; some say it will go down to $25k; I even feared that Bitcoin would drop to $25k, but since I am not selling so soon because my target is not yet reached, I don't have to overwork myself with the price, especially as someone who is always dealing with Bitcoin every day. But it was not really bad, I think. I don't know how to analyze the market, but based on a few things I know, I think this month will not be as bearish as the month of May, but a bit stronger in price.

If we trace the history, in June there was usually a drop in prices or a sideways movement. Now the Fed rate is almost at its peak, but there is no overly positive news either. Therefore, a prolonged sideways movement is the most likely scenario. It is unlikely that there will be a particularly strong drop or a rapid rise. July might be hot and June might be a period of accumulation.

Down before up! Was thinking this might already occur in May, a re-test of $25K or $23K, but clearly this is taking longer than expected. Hence I voted for sideways for this month.

Also the so-called "China pump" clearly never occurred beginning of June as expected and otherwise there is a short-term bearish structure of lower highs indicating further lower lows. That said, I wouldn't be surprised to see price correct to lower levels and end the month around $30K. I'm still relatively bullish long-term until proven otherwise, but right now there isn't any upside momentum.

I won't be monitoring the chart until November or December. However, starting from January or February, the market is expected to gain momentum and surpass its previous all-time high as we approach the halving.

If we would base this on the past year's performance, this month of June is somewhat of an uphill situation. But yes, can't assure anything because investor's behaviors had also changed, and with their experience, that possibly brought something different to the market.

Well, I'd predicted to have a few price pumps this month, a 9-10% increase seems to be possible. Not really it is good but can't push the market and the people to just hold their coins for the sake that the price will grow high as well. Generally, we just rely on how the investors strategies their investment, the more they hold, the better results.

The only thing that we can look at it right now is the previous history of June.

And so far we all know that June is red, unless we find ourselves in our break out run, but it's seldom happening in June. Usually, it's the last 3 months that really will have a good bounce after a worst bear market year like 2022.

So with that, not seeing anything that will push the price to higher levels, $30,000 will remain the resistance for this month.

I'm thinking the same way.
There might be a short correction that will occur this month of June, the same goes for last month's history, with price correction first right after there's a price increase.

This month could be a sideways pattern the same as the previous history.
But this is just personal speculation which is we know that the market can be influenced by sudden news events or changes in investor sentiment, making it challenging to accurately forecast short-term price movements.  So I encourage everyone to hold for a long period of time just like more than 6 months right after the next halving comes.

Yeah, long term I'm also bullish and we might see a upside before the end of the year maybe $40k-$50k might be there for the taking if everyone went well in preparation of a halving.

But so far the market for this month might have taken a step back, so not going to be surprised that we might be for a long sideways pattern again, weeks hard of grinding. But I think it will be good for us, this period of inactivity might be a good time to just re-invest again.

I rely on the world economic situation to make my prediction, the Fed is still not clear on whether to continue raising interest rates or stop, so the market in June will depend on the decision of the Fed. If they announce a halt to rate hikes, that would be good news for us to hit our target of $30k or more this month. But if they continue to raise rates, the market is unlikely to perform any better.
For my part, I like the bear market, I don't expect the bitcoin price to go up that fast, and I will only think of a bitcoin price increase as we enter Q2 2024, meaning after the halving takes place.

June = Moon is a sentence that bears many questions. The moon, as understood, is for Bitcoin to break the highest barrier, which is above $60,000, and this is impossible. The moon may mean that we will rise to levels close to $60,000, which is also impossible.
So the moon, even if the moon means that we will rise from the close of May, you are using it in the wrong place.

During the middle of the year, trading is usually slow and trading is boring. Therefore, if we maintain these levels, the matter will be great, and I do not expect any rise above the $35,000 level.

Many people are waiting for its market price to fall for them to enter with a huge price discount. If it is general possibility then there is as evident with the CME Gap. But as we all know, once buyers created a pressure, then we are more likely to see a continuous price increase. The market is now showing higher volatility than last month seeing altcoin prices with 40% increase while the price of Bitcoin plays aaround $27 - 28k. I'd say there's a higher tendency for the price to fall and fill the mentioned gap above mentioned. There's no concrete reason for an uptrend right now to trigger an uprise movement so it would more likely go the other way around.

I think it is going to end up 30k+ and it will stay around those levels. I do not see it go 32k+ for example, that would be too much for one month and I am guessing that it will hurt the price and all. However, if we could end up with something bigger and better, then we could do bigger and better as well.

I think the realistic approach is that it will be either barely going above 30k, as in literally just 30.1-30.2 etc type of small increase, or it will probably end up with something under 30k again, but I still think that it will be higher. Whatever it has been so far, it may see higher than that, and that is the road we are on because of the halving, people are afraid of selling, and they are a lot more willing to buy at this moment as well.

Sentiment in June in my opinion is very good, the price of gold has also increased at the beginning of this month,
and usually the price of gold will have an impact on bitcoin, so if gold rises  the price of bitcoin will also increase,
and it is proven that now bitcoin is above $ 27k before bitcoin was at $ 26.7 k,
yes hopefully Bitcoin can break out from $ 30k and go to $ 40k or $ 35k this June.

After the end exit price of bitcoin at the end of May, I don’t see even a slight bull coming up by the end of this month. We had so much hope that the price will increase slightly than what we saw but it didn’t. I still feel the price this month will have no relative effect than the previous month’s. If at all a price increase will happen, it might still fall back or even go esser than its initial all-time low for this month. I don’t expect anything big of a difference this month than the former one, let’s just fold our hands and see how the market transpires.

My predictions for the month of June are positive. Markets always go against expectations. If we thought that 29K is the old 9900, then we will be surprised that we broke that barrier, but I do not know whether we will hold above 30kfor a long time or not.


Those who wait for the price to drop are those who will not buy at a low price, you will always find them afraid of the price drop and they want to buy at the lowest possible price, so if the price reaches 25K, they will wait for 20K, and if it 20K, they will wait for 15K, and so on until the price suddenly increases and they regret.

If you did not buy when the price was less than 20K, and although all indicators say that the bottom is near, you will not buy when the price is above 26K, and everyone believes that it may decline.

Love these topics tokeweed, keep them up! I still think it will go to moon, and opted for them on the poll, but I have been thinking that for like months now and been wrong so far, I hope that this time I won't be and it does well enough. At the end of the day we all know that it will do fine eventually, maybe not this month, maybe not next but it will start to go on a bull run eventually. This is why I keep thinking that will be the month we are on, whichever month we are on. I hope that we really start going up a bit, we really need to, it has been pretty disappointing since that 30k+ during April, because since then we haven't been able to see above that again, I am guessing it could be this month. Lets hope that we get it, and we see above 30k at least, even if not like a moon or something, 30k would mean that we are back at the top again and something is cooking, that will get people excited a bit more.

Meh, sideways. Bitcoin has been generally boring ever since the second quarter of the year came in, ever since the price has finally emerged from below $20,000 in March. Although there was a little hype some time in April because of the attempt to turn $30,000 into a support after breaking it, that hope was quickly dashed.

I guess this isn't simply the time for a trip to the moon. So this entire 2nd quarter will probably be a dance within $25,000 and $30,000.

After bitcoin failed to cross the $30k mark in April and May. I see people starting to be pessimistic again because before that, when bitcoin continuously went up from $17k to $28k, people always said bitcoin would cross $30k and hit $35k in Q1. People change so quickly and quickly forget everything. Regarding my prediction, I always expect bitcoin to not increase rapidly, as I need to accumulate more bitcoins for the upcoming bull season.

Not much more to add to what I said in the other thread.  (https://bitcointalk.org/index.php?topic=5454540.msg62330712#msg62330712)

It is clear to me that in the almost year remaining pre-halving, the price will experience a rise perhaps to $50K or so to come back down and after halving already attack the previous ATH of $69K. This particular month or next month, it is hard to tell. I don't see anything that is going to move us significantly from the kind of sideways we are in. But at some point in the next few months the price will go up, that's for sure.

In June it looks like Bitcoin will continue for this uptrend it can be seen that $ 25k is not broken,
even though some time ago there was a Fomc meeting and interest rates rose but Bitcoin is showing strength,
yes I am grateful that the support is strong and most likely $ 30k or $ 35k this month can achieved.

We are not in the Q2 of the year and nothing is too lateybto achieve, today is just the third day in June, we still have a long days remaining for the months and bitcoin can through any of these days surge higher above $30,000 we can also see a break limit above $40,000 because the more we are getting closer to the bitcoin halving which is believed the time where the market surges and we attain a new all time high.

I voted ‘Yup’ in the poll. I don’t necessarily think we will moon in June but I think the price will be higher at June close than it was at June open. We are in the very early days of transitioning from bear market into bull market. I think the price will begin to creep up soon (if macro environment allows it). Just be calm & wait for parabolic upwards movement in the not too distant future (next 2 years).

Just like what I think. Though the market is unpredictable but based on the current performance and last month's performance, well, a bigger chance that it remain the same. Maybe we could expect a different situation in the 3rd quarter like halving and BER months is close to it but this June, we can't expect a rising trend on the market price. The price will still play between $25k to $30k like it was a bonus price if it reaches $32k. Indeed, we are still seeing a parabolic movement in Bitcoin price.

It can be said that June will determine whether the market will rise or not in 2023, if the June price closes still below $30k then the opportunity for a rise will likely be difficult to happen, our hope to be able to see a market rising is when the halving occurs early in 2024.

I thought the beginning of June would be hot because China lifted the ban on cryptocurrencies, but so far it has not affected the market. Hopefully it will happen in June and prices will start to rise. Although usually summer is not the best time for any market.

Price is currently testing the recent lows after news that Binance is being sued by the SEC. I think this could end up as a short-term sell-off, as Binance isn't a directly related to Bitcoin's future or success. Also as many are now suspecting incorrectly that Binance may be insolvent, but in reality they are being sued for their business practices, rather than being accused of not holding reserves. The only real concern is the claim that they have been co-mingling funds, similar to FTX, which while this may well be true, I don't think it's enough to send Binance into bankruptcy.

Already on short-term time-frames price is finding buyers under $26K again, so this may well end up being a fake-out for now.

Regardless of the recent binance issues or wallet hacks - I think June is month that really has great potential to see bitcoin test its new support below $26k. This correction is expected to take place in the short term and recovery will follow afterwards. I'm not worried about the percentage drop which has been over -5% in the last few hours - this is a test for long term holders.

I hope bitcoin won't drop below $25k during June - but $24k is still possible to become the next support if traders are still very panicked.

To be honest this June it's been really hard to predict where Bitcoin is going to go,
we're just at the start of the month but there's been some horrible bad news from the SEC that they're fighting Binance over some issues,

yeah becasue of that BNB dump and causing a panic sell happen in Bitcoin too,
I don't know if Bitcoin will be okay this month because if $20k is damaged then maybe we will have a hard time seeing bullish again.

Since Binance is one of the largest centralized exchanges out there, any negative news about it will impact the assets traded. Basically the future profit potential of bitcoin has nothing to do with the Binance case, I mean bitcoin is not dependent on Binance even though in the end Binance will file for bankruptcy.

So don't worry because whether bitcoin is bullish or not depends on supply and demand. If Binance fails, other exchanges will thrive and compete to be first. But I don't think Binance will fail despite being in a lawsuit with the SEC.

That is why I voted for sideway movement. I also do not expect bitcoin to make a rapid movement upwards very fast. The price is somehow not too volatile, it is on a long run consolidation.
I also feel that the highest bitcoin can go before the halving days draw near is about $35k. If my analysis holds true, it therefore means that we can only cross $30k for a short time and return to this stage again.
We shouldn't hope for much this month, unless there will be a very strong news of hype which do not come always, rather bad news are fast to surface. But in the absence of fundamentals, bitcoin can touch $30k this month but will not dwell there for upto 7days.

Let it be whatever it is right now but the reality is that we are going to get over that again anyway. I know that a lot of people are wondering when that will happen but it is going to happen in the future and we shouldn't be worried about it neither. I know that price is bad right now, but binance is a global company and not based in USA right now, so they can be investigated as much as you want, and it will not come to any serious conclusion.

At the very worst case, CZ will never go to USA again and I doubt that matters to binance as a whole, just him. Binance.us could be at risk but they could just close it all together and americans will continue to use .com anyway and I believe that we should be seeing the price recover. Whenever it goes up, they just do a FUD about binance for some reason.

Yup, that's the plan.  But for a while there I thought we were on our way up without testing 23k - 25k support.  After hearing that there was some shenanigans between the SEC and Binance it's now looking like we could go test support and keep testing it without an immediate bounce as first thought.  :D

It's gonna be a rough one folks.  At current conditions some people could start thinking that the market cap of lots of these coins are way overvalued.  Like PEPE, for a new memecoin that went online just a couple of months ago is around 450 million USD in market cap..?  Lol.  Ain't buying any of that until it goes below 50 million market cap.  And even if you're just trading it for the potential upside, I think it's not a pump fist buy.  Just waaay too overvalued...

Lots of these alts need to go down big time.

Binance US is based in the USA, that's their US arm. The accusations is however that they have been allowing US customers on their main platform (that I think we all knew), and even providing assistance to some big traders on how to circumvent the so-called restrictions, among other claims. Yes Binance is a global company, but the SEC does have a lot of reach when it comes to costing them a lot of money.

The reality is we've never seen a SEC lawsuit this size against such a big crypto exchange, so it's impossible to tell the outcome, ie whether they settle, win or lose.

^  I'm not going to pretend that I know what's going on but it feels like there's some parallels with how the regulators handled online poker in the US when they implemented the UIGEA and basically isolated the US poker players from the  rest of the world...  It sucked for the guys in the US as their player pools shrinked from one being connected to the whole world to something limited within their state.  :/  And not all states legalized online poker.

Anyway just 10 votes after a week?  C'mon guys...  Let's get more votes in.

And I guess sideways would look like this?

https://i.postimg.cc/GpqcdTJN/DA09772-E-9-C01-47-C7-A515-CED5-EF977974.jpg

After the bounce, it looks like we're going back to how it was going prior to it.

Surprising to see most people vote sideways for a change. It's a good sign that people aren't too bullish right now at least, even if maybe they should be a bit more bearish given the current correction.

As for the sideways theory, I'm not too convinced. Once price eventually reaches $25K level, that's looking increasingly likely, it will either act as support or fail imo, rather than any prolonged attempt to hold it as support. I say this as there is a lot of fear in the market right now with what the SEC is up to, even if it doesn't directly effect Bitcoin what so ever, people are still selling regardless it seems.

Personally I still find it more likely for price to re-test around $23K, potentially with a more capitulation style candle/event given the current market sentiment, followed by a swiftly returning back above $25K. Not so dissimilar to $20K correction that quickly returned to $25K. Despite the background noise, I don't see much different so far with the current correction than that of March. The only difference is we haven't seen the quick move to the downside yet, but instead a slow grind downwards with low volume or support, but I think we are getting closer to an increase in volatility in order for lower prices to arrive.

Price will be stable along this month and also for the next months. I think that we're not ready yet for a price increment, we have to wait some other months, maybe we should see something of interesting at the end of the

year but not now. Let's hope that quantitative easing will restart soon, this will let dream us  ;D

The reality is according the usual Fear & Greed Metric there isn't any fear in the market yet: https://alternative.me/crypto/fear-and-greed-index/

For sure there is a lot of concern and uncertainty right now, especially of what could happen next with the likes of Crypto.com suspending it's US activities, but ultimately we haven't seen any real fear hit the market yet. This is why I say if price breaks below $25K we could see some genuine fear in the market again, as right now the market sentiment remains relatively neutral despite all the news of late. Either that of the current concern will pass, $25K will hold as support and the bullish trend continues. As despite the pull-back and correction, the market hasn't even begun to enter in a bearish period yet.

In summary, if you're someone who buys fear and sells greed, then this isn't the buying stage yet. We have yet to see whether fear will appear in the market or not.

The price should be more stable on this level and let’s not hope for any bad news because we might see it down again. The market is on a big red candles and not just with Bitcoin, this could be an indication about the pressure of the government to cryptocurrency. Let’s not panic and just focus on our goal, remember that this is not the end of crypto, this is just a normal bear market, better to buy more.

The bear market that is still occurring this month is indeed an ordinary bear market that occurs due to bad news from other parties, which has prompted some investors and traders to start saving their assets into stable assets to guard against losses. And I also agree with what you are saying where we shouldn't feel panic and must stay focused on our own core goals because pressure from the government usually doesn't last so long on the crypto market, moreover the government also often wants to solve problems more wise through a better path.

June is still long and the price of Bitcoin is still unstable, and even a dump can happen again because $ 20k is lurking,
moreover bad news always comes, to be honest the situation in June is more scary than in May,
even though we are getting closer to the halving but Bitcoin still not bullish.

It is unlikely that bitcoin price will fall below 23000. I think we can expect a sideways movement between 23000-27000 until the end of June. Mid-July usually comes out strong, so bitcoin could start rising again from mid-July. Also, Halving is coming soon and bitcoin will have less and less room to fall.

Even if Bitcoin drops below 23k or goes above 30k, I am not a fan of selling. There are those who are waiting for 10-12k, and there are those who say it will be over 30. There will be a move before the halving comes and there is still time. I don't understand why some people are so pessimistic when they haven't even played 1k. When it goes below 20k, they wait for 12k and start spreading negative words on the market again. Get Bitcoin and hold it. That's the whole point.

It will surely reach the level we expect one day. I think this period will be soon. Max. There is a possibility of reaching those targeted levels in 1-2 years. If it doesn't, we're holding bitcoin. I don't think we will lose because I don't think it will drop to these levels again after the halving.

My guess for June is that there won't be a lot of play around these levels. If it does, it will recover quickly.

I am joining you hehehe. The Hinman documents will be unsealed and revealed on June 13 as requested by the lawyers of Ripple. The documents have records of a speech made by Bill Hinman where he said that Bitcoin and Ethereum are not securities. Ripple's lawyers argues that they can use Hinman's speech to open a case that XRP is also not a security. This is bullish for the much of the cryptospace because it might set a precedent for many projects to also open their own cases that their tokens are not securities hehehe.

Also, XRP might pump if Ripple's lawyers get a good outcome hehehehe.

This dump happened in June, I really expected it. When we tried to test the support level at $25,000 last month, I believe it will be tested again this month and it broke down below.

And that's why I can say that I am bearish in this month of June. This price where we are now which is $25,000 level plus will be a significant support over the time, I hope we will not fall below it anymore until next month.

another sideways happens now and yes price breaks down 25k again and with the bad situation happening? I think we will be seeing more dumping down to 24k , because there are sooner increase in the next year .
i thought we will not be seeing lower than 25k but the way it is? maybe there are more low in the next coming months .

June =  Moon, or June = BOOM!!!!!.
BOOM meaning it will go up like a SpaceX's rocket. :D JK

200 Weekly Moving Average. This is the only indicator that I'm using whenever I want to see the trend of Bitcoin. Right now the like is at $24,200. Still above that line, so I still remain bullish about Bitcoin despite of it's downward movement in the last few days. As long as Bitcoin will stay above $24,000, I will still remain bullish, and will expect to try and break that $30,000 psychological resistance again. Can Bitcoin do it this month? I don't think so after what happened with Binance at the start of the month, but who knows.

I believe that Bitcoin will go sideways for this moment at around the $25,000-$30,000 price range.

Well, bitcoin is now trading around $25k so it's now a couple of dollar closer to $23k and I dont think that "unlikely" that you have said is quite more "likely" to happen after the SEC suing Coinbase and Binance simultaneously. I believe the SEC continued crackdown on crypto will somehow affect the market - so we cannot eliminate the huge possibilities for bitcoin to drop below $23k and even if the halving is close approaching, there's no guarantee for a lesser room or chances for a sharp decline. I would also consider it as an opportunity for everyone to fill their bags even more with fractions of bitcoin before the anticipated next bull run.

We're just on the tipping point between sideways confusion back and forth and actually acting negatively.  There is both a negative regular price move downwards on daily bars but also now a close below a long term average the 200 week.   If this week doesnt alter those movement with some positivity to muddy that negative tone then it might develop into a proper trend not just a suggestion or speculation of one.   I presume sideways but June could move down properly perhaps, break the repetitive range of prices thats been in the wash since March just going around again and again.

I believe this thread was created before the sec grand crack down on major projects in the crypto space. If this poll was to be re-created the answer would be different.
In crypto, it is always very difficult to full speculate what the price will be within a certain time frame since the market is highly influenced by the news and whatever comes up from the anti-crypto side. Many people where hoping the month of June will start well as may was not very fun for traders and investors, nobody anticipate for the sec invasion this month.

Meanwhile, in my opinion, the sentiment in June is still very bearish, because some bad news came such as Binance vs SEC,
Coinbase vs SEC and several exchanges that went bankrupt,
this is why good news like China which legalized cryptocurrencies still can't make the market bullish.

Bitcoin change in the price of below decrease the price of  23k and increase the price of above 30k and i m not a fan of selling this and somebody waiting at the price between 10 to 12k and some one say the price will be increase above the 30k and its half and there is a some movement and they have a time and even not play 1k and its go below the price of 20k and finally they wait still end increase a price then sold it is better to this.

I think sideways seems like the most likely situation right now, people could have different approaches to this but that doesn't mean that it will happen, we are going to just see it grow a bit differently. I understand that people are looking at the price like it is acting up right now, we have seen some drops and all, but that doesn't mean that the start of the month and end of the month would be too different.

I feel like it will have some movements in the middle but the ending of the month will be pretty similar to how it started. This is going to make traders very happy, but the long term holders will not be similarly happy about the situation, there will be a lot of confusion regarding what's going on and how it all happened.

The block reward halving is still a long way off, and even if we get closer, it won't stop bitcoin from falling if the SEC still hits us, panic will still ensue.
Things are starting to calm down, and the market is no longer reacting strongly to the SEC news, and I think the movement of bitcoin this month will depend on the Fed news. If CPI falls as expected and the Fed stops raising interest rates, it can positively impact the market and vice versa if things do not go as expected, it will negatively affect bitcoin.

Still in a difficult mood to move past $30k even though the current situation on the one hand can still be considered normal because the market situation in May and mid-June are not much different.
I think that the current market situation still requires us to hold and try to increase the amount because selling is not a good thing to do until the end of this month.
There is a possibility that the chart will change again when the BinanceUS and SEC issues are resolved.
In general, that's what I think.

It's difficult to find a bull when there's so much happening near it. BRC20, Pepe, and more. How many investors, users, customers are now affected by this transaction fees and longer time of waiting? It had never happened for a long time and I though it will never happen again.
The price may stay the same for this month, that's my take. If not, then more reds incoming. I just cannot see any reason behind a bull to happen again. Economically speaking, we ain't really in good shape too. No savings means lesser buyers including the retail ones who are a big part of the growth of Bitcoin.

And we are not yet in the bull run, specially as you have said, there is a issue about brc-20 ordinals that's clogging bitcoin's network and the community find it disturbing as the fees is going up and most of us are not used to it because it's already cheap with 1 sat/vB. And there were moments where it went as high as 200 sat/vB (highest priority).

And then we have the Binance vs SEC issues or we can add Coinbase issues as well. So definitely this month doesn't look good to us. We are now in the second week and the price just hovers around $26k.

There's a couple of guys who voted for it to go up.  It's going to be funny if they're the two guys who got it right.

Anyway, I think the couple of sell downs that went to 25.3k could qualify for '25k' as it's more about the range than the actual number with these things.  So some room for error is fine imo.  But yeah...  Things are starting to move up to 26k again with some resistance.  Looks like it's not gonna be smooth sailing and your 23k call could happen.  :/

Let's see what happens when US session starts in around 30 mins from now.

Well it certainly wouldn't be out the question. Price is only down -5% this month, so ending the month >$27.2K would indeed be an up month, even if potentially not by a lot.


I agree that $25.3k could well qualify as testing $25K, as the previous highs were only around $50 less than that. However the issue I currently see is the close below the 200 WMA which will signal caution for many investors, even speculators, at least until it is reclaimed. At present, the $26.3K to $26.5K is now acting as resistance, where the 20 as well as 200 WMA are based, even if the week is still young.

https://s3.tradingview.com/snapshots/s/sZKpiR0D.png

I'd have much preferred a re-test of $25K prior to closing strong back above the 200 WMA, which would have signalled strength in the market. But instead last weeks close only signalled weakness. Hence without the combination of $25K previous resistance turning into new support, along with confirming the 200 WMA as support, I see the next realistic downside target as around $23K, close to the 50 Week MA.


I'm not sure this is that relevant at present, as it's only relevant when traditional markets and Bitcoin are correlated, whereas in the past 5 weeks Bitcoin has corrected and S&P has broken to the upside, so there is now a short-term inverse correlation. While this could be a lagging indicator for a Bitcoin break-out in the near future, this still remains to be seen as price continues generally to the downside.

I picked nope as option but I expected people to pick sideways. Latest peak was something done and closed as resistance of bulls were weak. I think we are definitely in sideways type of balanced markets BUT bears sort of determine where price will go, not bulls. So bullish moves always captured by bears and stopped rather quickly. I guess june won't be our best month indeed. I feel like july may be lot more better if June keeps on going sideways.

To be honest, I was already bearish about Bitcoin even before all this SEC targeting exchanges thing came to the surface, I knew that Bitcoin will go below $25k or maybe around $22k which we might see very soon, the price wasn't being able to hold itself above $27k before there wasn't much support or buying pressure from investors as everyone was expecting a further dip.

Now with all this bad news circulating in the market and retail investors panicking, I don't see it going up anytime soon until things settle down after all these cases are done with, if exchanges face defeat, we should expect the price to dip even further.

I'm pretty much agrees with you re-test of 25K is very high at this point, especially with the SEC news and we didn't see good news too from here. Tho the 25K is now becoming a support zone from the previous resistance zone it seems 30K zone can break if the good news comes or maybe next month or August seems very hard to break tho

is the blue line the 200 WMA and is that volume profile in right of your chart?

And as we were talking about 25.3k being qualified to be '25k', the real 25k was tested and was broken.  :/  If the daily candle doesn't close above 25k - 25.3k and it establishes itself as resistance, it looks like BTC could go back down to 19.5k - 20k range.  

And I'm not really sure why you're saying support is at 23k because this is what I'm looking at...  25k or so was tested twice during August and Feb, before finally breaking out at March.  Now it seems like it has flipped back to being resistance.

https://i.postimg.cc/fLXCZk20/0315-BBF4-1-DBC-444-C-B963-7970984920-A4.jpg

It's because $23K is the volume support, whereas there isn't a lot of support volume between $24K and $26.5K. It's also very close to the 200 Day MA* currently around $22.5K that within the coming days will be at $23K. As you can see there is increasing volume support from $25K down to $23K, but similar to the correction in March, price came down to the peak of this volume support before reversing to the upside.

https://s3.tradingview.com/snapshots/g/gZdpNfb4.png

In summary, the same reason I was bullish about $20K acting as support, while others were fearing much worse prices, is more of the less the exact same reason why I see $23K acting as a support level. Arguably there is more chance of $23K acting as support than there was of $20K back in March, as back then the 200 DMA was barely rising, whereas now it's been in an uptrend for the past 3 months.

It's also partially due to the market mentally. Most were/are expecting $25K to act as support, somewhat similar to those who thought $22K/$23K would act as support back in March, whereas instead it failed. If most people expect old resistance to turn into new support it probably won't, especially with price effectively in a neutral zone between the 50 Day MA (declining bearish) and 200 Day MA (rising bullish).

Naturally I'd have a completely different opinion if for example the re-test of $25K was in line with some other support level, like the 50 Day MA, or otherwise the 200 Day MA, but this isn't the case. Old resistance on it's own turning into new support just seems unlikely to me, especially now the 200 WMA has broken. Whereas the confluence of support as described at $23K looks a lot more appealing to me.

Also the 50 Week MA has just started trending back upwards in the past few weeks for the first time in around 18 months and is priced around $22.5K. This is usually a defining factor or a confirmed trend reversal, similar to January 2022 when it flipped bearish, even if somewhat delayed. In summary, if $25K is the short-term support level, $22K to $23K is the long-term support level here.

*Had the wrong MA on that chart, it should have been the 200 which is currently at $23.7K (not 260 ie 5 year which is at $22.5K).

HELLO JUNE OF WONDERS!

https://www.talkimg.com/images/2023/06/15/AxORo.jpeg

June isn't obeying anyone's predictions. I see no moon in June, I see no side movement in June. All I see I digging and digging down the well. June want to reach 20k and it is so determined. What will stop it from happening. Indeed, cryptocurrency is unpredictable.
With the beautiful performance of last two months,  I really thought bitcoin will do more and hit 30k this month. Bit it seems the dream is dashed.

For almost 2 weeks Bitcoin is still in range $25k to $28k,
and at the end of this week bitcoin has not made any big movements it can be sure that it is sideways this month,
indeed the market looks boring and volatile for altcoins,
look at bitcoin only dropping -2% to -5% and altcoin prices are down up to -10% to -25%.

I also don't think June will look like a sideway as bitcoin prices tend to fall and test new support. $24k has been support in the last 24 hours although currently the price has bounced slightly above $25k.

But ultimately I think June will also show some upside to counter the FUD that's going on. The SEC is urged to protect investors rather than drown them with its attacks on Binance and other exchanges, so the impact is bound to diminish gradually. So from that some other positives should also support the upside although I can't expect any bullishness in the near term.

Not just for 2 weeks, we have been in this sideways training for months now if I'm not mistaken. At the start of May, the market we've experience price drop and then this pattern emerges. And with the negative news about SEC vs Binance, it continue to go down hard. In the last 24 hours, we have seen the price really dumping and at highs of $24,000. The good thing is that we have a good bounce back today, not sure why the reason of the sudden plunge in a day, like -2% very quick. But the price has recovered from where it was, currently at $25,600+ and we might go back to $26,000. And another positive news is that we were able to hold the support like of $25,000. Because if not, then obviously we might go down to $23,000.

Ah right.  Maybe I should start looking at the volume too next time as mostly I've just been looking at the price action when looking for support, resistance and when they flip.

Is the blue and yellow area graph on the right all the liquidity in the order book?  Makes sense if it is.  But the thing is traders can pull their orders out anytime.  So I'd not put too much stock in it.

Anyway, yesterday's daily candle closed above 25k - 25.3k and it's holding today.

Personally I've found that volume is key, not just support/resistance, MAs and other indicators. Volume is ultimately were the "interest" from buyers & sellers lies.


Nothing to do with order book, this is a common misconception. It's purely buying/selling volume. Yellow is buying and blue is selling.


Despite my pessimism about $25K acting as support, there is certainly buying pressure from this level. Currently observing >$26K and it look promising. I'd still be surprised if price managed to reverse from this level, rather than remain in the downtrend channel and continue lower, but can't argue there is certainly buying pressure. How the Weekly closes could be of interest at this point.

The June is fast in recovery. Bitcoin doesn't want to settle long below 25k and that is why it had to bounce back with 24hrs from 24k to 26k. That is a decent shortest term movement and I believe some people benefited from it.

Talking about SEC being able to secure and protect people's investment and not to do otherwise. Sec is only interested in the interests of bond and stock investors, while they are in daily war with exchanges in determination of security coins.

Clearly Im a trading god, or possibly it just bounced in a fairly predictable area after some slightly more positive news and a dollar index moving down.   All factors which can help but to complete this move in a proper way not just a ping pong back and forth action we really need to recover above and confirm the 50 day average regularly as below BTC price action.  At present we are capped by prior negative action and that is not dispelled by one day especially.

We can focus on the price with the important developments in June, the current status of the institutions and other details. Major events on the macro front for Bitcoin had a huge impact in June. I would say SEC lawsuits are the most important of them. In the first week of May, we saw the sales of investors who bought billions of dollars of BTC in January. This caused a serious decline in the markets. The decrease in the effectiveness of market makers such as Jump Trading dried up the liquidity at the same time.

As a result we see shallow liquidity and low volatility. It is not possible for the historically low volatility of Bitcoin price to continue in this way. We could see a big price move in both directions soon. I think closings above $27k will push the Bitcoin price above $30k in the short term. The low volatility period can be completed with an upside breakout.

Bitcoin has gone up to $26k and the next target is $27k and even $30k,
but we also have to remember that this is a weekend, where manipulation often occurs,
so hopefully this isn't a Bull Trap, and hopefully yesterday was a bear trap.

Bitcoin did make a nice bounce on Friday, but if you look at the larger timeframes, it could be looking like a downtrending highs. You are correct in saying that for a subsequent uptrend it needs to break resistance, but so far it looks like a local downtrend.

Local downtrend - what do you mean?

The downtrend should have ended if you do the analysis on 1 month TF. The market has gone through a long bearish period at the last year or over 13 months - but I think the bullish start to the recovery process has been there since 2023. However, bitcoin broke through the $31k resistance in April albeit only moments before being followed by a two month long correction. But I believe that resistance will be tested again during June or July, so keep your optimism well.

Nah, it is still going sideways and that's what the majority has voted as well. But I do agree that we are not going to see moon this June. And if you look at June historical logs, it's didn't look good at all so the pattern continues.

It's interesting to see where our support line is, and currently it is still $25k, we have retested that line and yet it covered nicely and it did bounce to $26k++. So we recovered from that critical level. And I think we are still going to be very bullish in the long term.

The global down trend ended last December when the price was around 15k. But now I see a local downtrend on the weekly and four-day charts. You can clearly see that the highs of the price have been declining since April. That is, the price has been declining for two months now, which could be called a local downtrend rather than a correction.

$25k has proven to be a decent support that is not going to be broken that easily (I mean break and stay below). As for the trend bitcoin will always be bullish in the long term but the question is about the time it would start entering the bullish trend. For now I don't see the sideways trend changing and I still believe it is all about the overall global economical situation which is "severely strained".

Apparently so! After two months waiting for a re-test of $25K, I had thought investors had given up waiting and bought at higher prices. But it seems that enough participants were patient enough here.


The chart below is one example of why/how Bitcoin remains bullish in the long-term imo. The 50 Month MA is the purple line, it's a rough 4 year average (slgihtly longer though). Notably while the 200 Week MA didn't hold as support initially, the 50 Month MA does look like it has supported price with the wick to the downside and now price clearly back above it. We're not far of a green monthly candle either now ($200 / 10 days)

https://s3.tradingview.com/snapshots/p/p80lfGuT.png


I still think there is a lot more consolidation to come, likely until the end of the year if not longer similar to 2019 or 2015. But whether price reaches $40K or even $50K before consolidating with a correction back down to around $30K is another question. Notably the stock markets have recovered considerably, and a similar type of recovery in Bitcoin by % from ATH would see prices nearer $60K than $50K now.

Locked the poll as I think we have somewhat captured the ruling 'sentiment of the month' of the people who goes in this thread, which at the first couple weeks of the month, I mostly really agree with...

Now I think sentiment will slowly change to bullish the more BTC claws its way higher and slowly fights its way thru 30k - 32k resistance.  If it breaks out, I think we're looking at 36k - 37k resistance next.

Yes, our mentality is changing, the market is greener, definitely, people are becoming more positive. Even though bitcoin has yet to hit $30k, I have seen many optimistic predictions that bitcoin will hit $35k before the end of the month. I never dared to think about it, but I hope like you, we need to break above $30-32k before we can think further. But I also suspect that is highly unlikely, people are excited to see bitcoin recover, but most remain cautious and still don't have any major Fomo to drive greener markets in the coming days.

We are seeing the bullish signs getting stronger this is happening within 24 hours bitcoin has had many breaks to resistance to $30K and it is less than a few dollars away from breaking it as june is going to be a bit better after a lot of some news big institutions buying more bitcoin a lot and that might be the big impact.

The market is now more aggressive, but will there be another break? But if you look at the analysis, it seems that this will be stronger to survive, henceforth, after June ends in July, many people expect the price of Bitcoin to move again.

I'm still sticking to my sideways vote :P

Now we are approaching the peak of previous resistance, I'm sceptical it'll break in the coming days or even next week. I also find it unlikely price will consolidate at this higher level until the end of the month at resistance, even if possible. I still think it's likely the month will end around $27K / $28K for a minor green candle, but a doji one generally signalling indecision/continuation ie "sideways" (down/up/down).

Don't get me wrong would be happy for price to clear the recent highs and reach $36K level, which would probably be the next immediate target, but after confirming the $30K area as one year long resistance, it might well take a few more weeks or months to finally get above it. If price action in March is anything to go by then the opposite is true, as this 6 month resistance was swiftly broken, but this is yet to be seen.

One thing I do find interesting is that so far this year's price action can be summarised as follows:

January to February: $15K to $25K (+$10K)
March to April: $20K to $31K (+$11K)
June to July?: $25K to $37K? (+$12K?)

Just a theory, but by next month price could certainly reach $35K to $37K if this years 6 month momentum simply continues...

From 26,000$ to almost 30,000$ in a single shot!

That has been an impressive bullish movement happening since yesterday. Now the challenge is to break the 30,000$ resistance level once again and remain stable above this line. I just feel regretful for selling BTC beforehand, due to believing on the predictions the price would fall once again after reading SEC is going to announce another raisement on interest rates of 0,25% for the next month and because there is going to be investment opportunities in USA on construction sector aiming to assist people in low financial standards.

Sadly, it was just a clickbait to deceive investors. Good for those who kept holding and ignored such rumours.

That's certainly the most obvious way to look at the situation, personally I prefer an alternative view that consider the past year or so:

* 12 months to reclaim the 200 Week MA as support
* 6 months to develop a strong enough uptrend
* 3 months to turn $25K into support after breaking it as resistance
* 2 months correction before attempting to challenge $30K again
* 1 month to realise that negative news doesn't affect uptrend

It's easy to look at the situation and think there is no logic to such a rebound, but the other angle is that a move like this back to $30K was a long time in the making.

Indeed, bitcoin has made a very good move. Over 15% in just a few days. There is a lot of news now about different etfs, so it is hard to determine what is true and what is false. But I don't like that this growth is happening with low volumes. If you look at the chart on Binance, the volumes in the last months are really low, despite the fact that there is now explosive growth.

The chart direction turned slightly downwards as it raced to a price of $31,000 from $27,000 in 24 hours.
Increasing price charts moving up quickly will make a lot of people regret for letting go at a price below $ 27,000.

https://talkimg.com/images/2023/06/21/Hzfi8.png

Maybe this is the beginning of the speculators who analyze that Bitcoin will reach $ 40,000 this year.
I see today's chart positively in the middle of the year amidst the rise of rumors that are made to drop the price of Bitcoin, although it is possible that some will say that this is only temporary.

It was a natural correction because some people have sold their bitcoins. Price dropped a bit but then bounced back and tested resistance again. Don't worry about it, but enjoy this recovery.

If this trend persists and continues then surely $40k will be reached easily. Look how happy people are after bitcoin crossed $30k in just 24 hours after closing at $28,331 the previous day. The hope for a $40k hit is still very high, but wait and see if bitcoin can break the $35k resistance.

Anyone who sold at a low price in the past few days is clearly regretting their decision, but I wouldn't necessarily say it was a bad decision when there was a clear reason that went with it.

Such a strong increase in the middle of the year is a positive situation. Of course, there are still those who say that the increase is temporary. Nobody knows what will happen, but it was good for bitcoin lovers to see the market in this way today.

To test it again, the price dropped and quickly recovered. After a long time, we see such a rapid increase. Today, those who are interested in bitcoin are smiling. Bitcoin investor longs to be happy and see the market green.

Hopefully this increase will continue and break the next resistance.

Yeah, it was a sudden flipped, but who can tell though? bullish sentiments is back and we have recaptured $30k again, after trading for more than 2 months on a sideways pattern.

So yeah, resistance should be at $30k, but it seems that if we can maintain this price then we can go up to $32k. And we still have a lot of days before the end of June, so most likely this could be another green dildo.

Nono it's fine...  I'd like to see the price a lot higher than were it is too.  I mean who doesn't?  ;)  But we also can't just let go and say 'woohoo we at the bull market, to the moon'...  Lol.

As for 37k, I wanna see BTC break above 31k - 32k resistance then go down to test it as support.  If it's solid and it holds then that's another good spot to go long.

If you look at bitcoin's historical cycles, 15k was probably the bottom and the price will not return to that area again. Usually a bull market would happen about a year before the halving, but without reaching a new ATH. I think we will see a price increase in the next half year.

Fair point, I guess I'm generally ruling this out happening in a hurry. As with the break of $25K it effectively took 3 months to re-test if as support. If the highs break, I imagine price will continue higher before confirming old resistance as new support. Also the upside momentum may well increase (similar to 2019), whereby old resistance may not be tested as new support for 6-12 months, let alone 3 months. I say this as we're not in a "full blown" bull market, as you agree, and therefore the market is still in a trend reversal stage. With that in mind, it's likely to be more volatile and irrational than usual uptrends.

I also suspect that breaking above $32K will shakeout the remaining bears who are still expecting lower lows, or at minimum a re-test of lower levels. With this in mind, these bears are quite likely to accept defeat and buy back, even if at a higher price for some. This is why I think a rational re-test of $32K to turn it into support will be unlikely, as the market is unlikely be rational if the last bearish level is crossed.

Also if we are to consider the year long structure of a rounding bottom, the upside target from breaking $32K is +100% to re-test previous highs. While I still don't think price will get beyond $60K this year, it's hard to believe that many bears won't take the risk/opportunity for a trade to $60K levels. As the reward will significantly outweigh the risk, as even with a stop loss below $25K, it'd still be about 5:1 or 4:1.

I'm still waiting for 24 hours or until tomorrow whether it will stay at $30,000 because on the 24-hour chart today the price is still at $30k even though the lowest price is $29,754.87.
If today's closing price is at $30k, then there is a chance of breaking the $35k resistance, although we cannot say for sure.

The price of bitcoin is very uncertain especially amid soaring buying interest from several large companies and large investors. The closing price will probably be under $30k lower or higher, but I don't think that will guarantee that bitcoin will be more expensive and break the $35k resistance.

Today bitcoin opened at $30,102 according to data from CoinGecko, and if this positive trend continues then bitcoin should be able to close at $32k or $31k. Anyway that's just the range I can think of, but certainty just really depends on supply and demand. Wait and see, but we hold a better possibility.

$29,936 closing price on the 22nd. Not far from the $30k we assume.
Then the $30,629 closing price one day later was yesterday's closing price and is still not at that price as it is on the coingecko chart.

https://talkimg.com/images/2023/06/24/HlGQZ.png

The possibility to get better is still very strong, at least entering July, which is only a few days away.

So what does that mean?  You're thinking BTC goes straight to 37k or wherever the next resistance is..?  It could happen but I think it's more likely that it's going to be like how it happened last time which was sell down to 25k before going up to attempt a break out 31k - 32k.  So it will prolly go straight up to 37k like you said, lose some steam, go sideways for a bit then the retest to 31k - 32k.

The pump before this one, BTC went down to retest 20k before it went up to break out of 25k.

Anyway black line is where the next resistance might be...  Dunno.  

https://i.postimg.cc/pTTnkHM8/68-DF7-AD9-FB4-A-4-B9-B-8252-2-E0-A5-D01-FC08.jpg

I don't really see another correction to $25K, unless it's based on on re-testing much lower prices below that like $20K etc. Maybe $27K or $28K at most right now. Simply because we've already seen the correction from $30K levels to $25K, so there isn't much or a reason to repeat that imo. Quite likely if $32K is broken then it will be re-tested, but only after somewhere around $36K to $37K is tested imo.


Sure that was a slightly deeper correction, around 20%, but not by much as $31K to $25K was a 19% correction. All it really shows is that the uptrend is stronger than it was, not much else. It's quite common that up-trends increase in strength until they eventually break, as this is more or less the recipe for a parabolic up-trend that we've yet to properly see so far.

Also note that after the correction to $20K price re-tested $25K before going another 20% higher within a few days, so this to me is the more likely outcome right now, unless we see a smaller correction to around $27K or $28K as I referenced in order to build up momentum. After all the $30K level should be slightly more difficult to break through than the $25K, due to higher trading volume.

^  True...  It might not drop down as deep as 25k from here on out but that's where support most likely is rn judging from the past price action.

As for the trend going up to 37k, it's looking less likely the more we stay at 30k - 31k.  Hopefully we at least get past above 32k before the week ends.  Check the 4h chart...  It feels like a dump away back to 25k.  :D

But all in all, if the month ended today BTC would be up around 11% for June.  Not bad imo.

For me so far, the 4 hour chart is not indicative of a new dump. Bitcoin is still at the 30k support level. It seems to me that the chart looks more like a flag. If that is the case, a new rise could happen soon. However, on the weekly chart bitcoin stopped at the level of the last local high. We need to break this resistance.

The question is, how can we break this resistance? Because I see that zigzag charts still occur frequently in Bitcoin even though it is still at the $30K support level. I also hoped that a new renaissance would come to Bitcoin soon and thought that a bigger price increase could happen in the near future. Only after seeing that the support is still not over $31K, I don't think a bigger increase is going to happen anytime soon in Bitcoin even though just three days ago it was above $31K.

Each of us sees a different picture on the charts. I see that on the weekly chart the candle opened above 30k. To me that means that the past resistance, which bitcoin tried to break several times, has finally been broken and the price has consolidated above that level. I hope this was not a fake breakout.

The price change in June was definitely not a bad one, it is something to be expected when bitcoin is getting a lot of support from big investors. Even though the chart is currently showing signs of correction, I believe bitcoin price will close above $30k by the end of June. I'm not sure that a big correction can occur when the market has been supported by many investors and should be selling at low prices can reduce by itself.

$29k is strong support so far for bitcoin, so surely that could support more attempts to test $32k resistance for the rest of June. Saylor also recently announced about his DCA buy again for bitcoin, so they really are more optimistic than we have been so far.

30k is where the resistance is actually.  I usually look at just the daily chart and some weekly to see where it's going in a higher time frame.  And the monthly chart for the purposes of these sentiment threads.

And here's what I see just basing it on optics.  Daily, it's having a hard time at 31k - 32k resistance and needs to break above it and retest as supporty to confirm the S/R flip.  Weekly, also at resistance but it looks cleaner than the daily chart.  Looks ready to break out 32k and go trend straight up to 37k resistance like dragonvslinux said.

now bitcoin price hovers around $31k and it seems that without big news like the SEC it's hard to get back to $25k. many say that $30k is a strong resistance and if bitcoin manages to break that barrier there will be a strong push. now bitcoin has managed to break through that barrier and i believe this positive trend will continue until at least $33k.

Tf just happened?  Went out for a couple of hours to watch some F1 and drink a bit with some friends and I come home to this?

Edit:  It's not that bad.