Is bitcoin steering towards $40k once again?

[speedforce]

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

Upon checking the whole picture, bitcoin dominance is getting lower compare to the past hype where it reach to $40k so there is a big possibility that bitcoin price will not move that big in the next 4-8 weeks not unless there is a hype that will likely to happen again.

Because as what I notice there are many investors that are shifting their assets to other currencies like Eth and etc. that is why the bitcoin dominance has decrease to 62% from 70% at the time when the bitcoin price reach to $40k price. But everything is possible and the market is very unpredictable, let's just continue to watch if what will be the next move for bitcoin price.

Im agree with this speculation, this would be time for altcoin showtime. I hope no big pump dump on bitcoin since it can be hurt alts more (Im alts hodler), just be sideways and stable bitcoins  .

[pooya87]

Im agree with this speculation, this would be time for altcoin showtime. I hope no big pump dump on bitcoin since it can be hurt alts more (Im alts hodler), just be sideways and stable bitcoins  .

You will always lose money by bag holding altcoins, the only way to make money from altcoins is to trade them while they are getting pumped and dumped (by taking extra care to exit before the dump starts). Nowadays that bitcoin price is moderately stable the altcoins are already getting pumped, you are just missing these pumps because you are bag holding!

[maydna]

I hope no big pump dump on bitcoin since it can be hurt alts more (Im alts hodler), just be sideways and stable bitcoins  .

Be careful if you hold altcoins because there will be more pumps and dump happen in the market. You can prepare yourself to sell your altcoin when the price increases and just hold bitcoin. If you still want to use altcoin, I hope you can analyze it to find the coin, so you don't waste your time. These times, many altcoins can increase anytime, whether it follows bitcoin price or not. That is why it will be difficult to analyze and find the altcoins. But perhaps, bitcoin price will stable for some time as we don't see significant moves from bitcoin.

[STT]

Hold your fire for latest trades just now and maybe it swings back up again but for this moment I see it as testing lows or running through a negative sentiment period of price action.   Might be reasonable to take now as we a potential bottom price, its reversed on the 25th so was due to sell off after that event.



So something like 29k would be similar low to the last one and if that holds as a regular low it might be taken as strength and become a tradable low.   It then has a fight at 33k to break further upwards in positive swing but its quite possible it achieves that target even before month end.

[tabas]

I hope no big pump dump on bitcoin since it can be hurt alts more (Im alts hodler), just be sideways and stable bitcoins  .

If you haven't noticed for the past years, when bitcoin dumps, altcoin follows. But if that's your strategy and you like it, good luck to you holding too much in altcoins.
You hold altcoins but you should hold bitcoin to make it better.

[stomachgrowls]

Hold your fire for latest trades just now and maybe it swings back up again but for this moment I see it as testing lows or running through a negative sentiment period of price action.   Might be reasonable to take now as we a potential bottom price, its reversed on the 25th so was due to sell off after that event.

~

So something like 29k would be similar low to the last one and if that holds as a regular low it might be taken as strength and become a tradable low.   It then has a fight at 33k to break further upwards in positive swing but its quite possible it achieves that target even before month end.

Just as those technical charts and analysis that we had read up a couple of weeks ago or on last week where supports are really on 29k 27k and 22k and 18k.It seems the price had able to test out to break out
that 29k support but it didnt really last that long but still not really that confident because price is just only 30,450 as of this writing but still there's some bounce back but the question is,
would it able to sustain this level or this is just an another preparation for breaking that $40k resistance?

Bitcoin market had been a bit quite last week until into this week.It didnt really give out some significant movement but actually if you can really able to deal with these minimal
movements then you can actually scalp into those and make some profits and thats what ive been doing since last week.

[wxa7115]

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

I am extremely bullish on bitcoin for this year, what we are seeing is just the beginning and it is natural that we are seeing a slow down in the increase in the price, just give it time and I am sure soon enough bitcoin will try once again to challenge its previous ATH.

What happens is that there is no limit for our greed, there were two weeks in which bitcoin made an ATH almost every day and we got used to it and now that bitcoin has slowed down we are disappointed but it is fine, that growth was unsustainable but the fact that the price of bitcoin is still above 30k should be a great sign for a new bull market.