Bitcoin to make Hard move up or Break down Hard

[thecodebear]

Price just hit and bounced off of crucial support level of 100d Moving Average for the first time this bull market, which is what acted as support for the whole last bull market. September and October will be a hard break upwards. 4-digit btc might very well be gone forever by end of this month. I'd say much more likely to see Bitcoin at $18k in two months than $8k. Worst case scenario I think it skates along the 100d MA in the 9k's and 10k's for like a month at most before shooting upwards off 10k prices forever.

[pieppiep]

Bitcoin price has down again, and this time, the price seems to want to break down deeper. I am afraid that we will see $9k back in the next week, but if there is a massive buying at the market, then we can survive at that price and even we will have a chance to break the higher rate. But before we can see that, we need to be patient and prepare to buy more bitcoin if we want because the candle still shows the red candle. Maybe there is good news that will come out so it will impact the price to increase later slightly. The market still hard to predict, and we cannot do anything. We could only wait for a while and don't make a panic buy or sell because the price still moving.

[Herbert2020]

4 digit price (that is anything below $10k) is most probably gone for good and will never happen. what we had wasn't a drop either, it was an attempt to push the price lower for a better accumulation price (in other words to be able to buy cheaper bitcoin) that failed due to the high buying pressure that goes against this action. which is why it is so hard to be broken and even if it is broken it will be temporary. the attempts have not stopped though, it is the same as $4k price that we had recently this year. a lot of pressure is trying to prevent the rise but it will breakout and shoot up because of it.

[Jating]

4 digit price (that is anything below $10k) is most probably gone for good and will never happen. what we had wasn't a drop either, it was an attempt to push the price lower for a better accumulation price (in other words to be able to buy cheaper bitcoin) that failed due to the high buying pressure that goes against this action. which is why it is so hard to be broken and even if it is broken it will be temporary. the attempts have not stopped though, it is the same as $4k price that we had recently this year. a lot of pressure is trying to prevent the rise but it will breakout and shoot up because of it.

Or just whales trying to manipulate the price and put pressure on it to go below the 4 digit price. They are successful, however the price did recovery very quick, meaning that people, just casual joe's also buying at every price drop.

However, I still remember way back, early 2018, when the price started to go down very fast. A lot of people are saying that the price won't go down to 4 digit. This was the time when we just reach an all time high of almost 20k, but we all know that after that the price did go down as low as $3200. So there is no safe upper or lower bound here, it is still base on the demand at any given time.

[BrewMaster]

Or just whales trying to manipulate the price and put pressure on it to go below the 4 digit price. They are successful, however the price did recovery very quick, meaning that people, just casual joe's also buying at every price drop.

However, I still remember way back, early 2018, when the price started to go down very fast. A lot of people are saying that the price won't go down to 4 digit. This was the time when we just reach an all time high of almost 20k, but we all know that after that the price did go down as low as $3200. So there is no safe upper or lower bound here, it is still base on the demand at any given time.

you can't really compare the big bitcoin bubble of 2017 (@ $20k price) with the current price level. where we are now is just after a recovery from a massive drop down to $3k not a rise and far from being anywhere near a bubble! as a result you can't expect a drop, specially of the same size here...

but you are correct, the price could drop back to 4 digits. i wouldn't expect it to last there for long though. as we have seen people are too eager to buy it and the market's overall sentiment is bullish even if they are temporarily doubtful.