Is It Another Chance for BTC to Hit $40K This Week?

[katrina2]

Technical Analysis on BTC/USDT
The signal line of the RSI indicator on the weekly chart is close to the resistance level, and if there is a crossover from top to bottom, then the correction will continue. In this case, there is a possibility of seeing Bitcoin even near the $20,000 mark! Of course, in this case, this kind of correction may frighten off some investors, but there are also those who are already preparing to buy at such a favorable price.

However, on the daily chart, at the moment the price rests against support, from where a rebound is quite possible. The RSI indicator in the neutral zone also indicates a possible resumption of the bullish trend. The MACD indicator is still in the zone below zero, however, it is starting to decline, indicating a possible transition in the opposite direction.

For more fundamental analysis, please refer to the article.
https://medium.com/bex500/is-it-another-chance-for-btc-to-hit-40k-this-week-846742e31329

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[bob123]

This is the Technical Support sub.
Please move this spam thread into the correct section.

You can move going to the bottom left of this page -> move topic.

[johnnathanexo]

Considering the current price of the bitcoin which is stated at $33,107.87 and the way the price has been going up. There is a very high potential chance that the bitcoin price will go up and hit $40K.

[Herbert2020]

The signal line of the RSI indicator on the weekly chart is close to the resistance level, and if there is a crossover from top to bottom, then the correction will continue. In this case, there is a possibility of seeing Bitcoin even near the $20,000 mark!

i have never seen this happen in any market specially when the market trend is bullish. in a bearish market of course it is easily possible to see a support broken then it escalates and price drops a lot more. in the current situation on the other hand it will never happen even if price sees another drop there are a lot of very strong supports that cannot be broken and they all the way above $20k.

[JimboToronto]

This is the Technical Support sub.

Technical analysis, technical support... there's a difference? 

[Lucius]

This is the Technical Support sub.

Technical analysis, technical support... there's a difference? 

If the OP set this thread in Bitcoin Technical Support then he definitely missed the board.


As for the chances for $40k this week they are not unrealistic, although it seems to me that this level will not be able to be maintained as was the case last time. Maybe it's my personal feeling, but January has never been a particularly good month for BTC, but this time it can't be said to be the case. At the current price we have about +$5k difference compared to the end of last year and that is more than enough - $40k is just a matter of time.

If such a growth rate is maintained for the next 11 months, the year could easily end with a new big $100 000 ATH.

[gabbie2010]

However, on the daily chart, at the moment the price rests against support, from where a rebound is quite possible. The RSI indicator in the neutral zone also indicates a possible resumption of the bullish trend. The MACD indicator is still in the zone below zero, however, it is starting to decline, indicating a possible transition in the opposite direction.

For more fundamental analysis, please refer to the article.
https://medium.com/bex500/is-it-another-chance-for-btc-to-hit-40k-this-week-846742e31329

The price got well rejected at that strong support which is at $30K according to daily chart frame analysis, today's market outlook was very bullish, price had already rallied to $34K+ presently, thus the possibility of reaching $40K being the next support is feasible however when and the period for the price to reach that price mark is unpredictable, it could be this week or next all these are subject to Price Action coupled with a positive fundamental news that can trigger or pump the price swiftly to $40K

[BrewMaster]

the momentum has slowed down for sure which is why it can not start up again quickly to reach $40k in only 5 days. that is with consideration of the unpredictable nature of bitcoin and the fact that price has been rising slowly recently.
at the same time i don't see any price close to $20k as a possibility ever again. we have to see some sort of massive negative news with a ton of panic selling to get there. in fact prices below $30k may as well be gone for good too.

[Vaskiy]

The growth with bitcoin have got slow down. There is regular growth, but not as the level of growth in $500 and $1000. Within a week or before the end of the month it isn't possible to reach $40k. If the slow growth progress with the support of institutional investors there is more chance of $40k once again. The market has begun to maintain its standard due to the increasing adoption in the global market.

[Ultegra134]

Post mentions about the price approaching $20k, which I find extremely unlikely/won't ever happen. Although, I even find the $40k mark to be quite difficult to surpass within the week. The price showed improvement today, I managed to sell for profit, but quickly crashed downwards. If it does happen, it might do within the weekend, but I'm really concerned if something like that will happen for the time being.

[TravelMug]

Post mentions about the price approaching $20k, which I find extremely unlikely/won't ever happen.

Same thoughts here, the support along $30k is strong as of this time. So I doubt that we will see the price going around the $20k levels again.

Although, I even find the $40k mark to be quite difficult to surpass within the week. The price showed improvement today, I managed to sell for profit, but quickly crashed downwards. If it does happen, it might do within the weekend, but I'm really concerned if something like that will happen for the time being.

Yes, the price is still on the consolidation phase, no imminent break out up to the end of the week. But I will be positive that November might break a new air of optimism that we might surpassed $40k again. Anyhow this is still a golden opportunity to stack sats.

[bitzizzix]

To hit 40k this week seems unlikely, and currently bitcoin price is holding at over 30k with very slow fluctuations.
and if it goes back to 20k, there is a possibility that it could and it wasn't what I expected as the current price is closer to that price than 40k.
but for the next few months I am sure 40k will be reached and it will only take time to reach it, and I think the bitcoin price is still in a good position and so far there hasn't been any drastic drop.

[adaseb]

It might hit 40K this week or next however the level to keep an eye on is the $29K which was last weeks support. I see that ETH got pumped and so did alts. So smart money could of moved from BTC to ETH and then later to alts. And now what is happening could be alts getting sold for fiat or tether and if $29K breaks it might be the start of the next bear market and $42K was the top.

Unless we get the Coinbase premium and we get reports of tons of BTC leaving exchanges then I don't think we will break ATH anytime soon. The BTC market is getting pretty weak. ETH seems stronger and even though we got a harsh rejection at ETH ATH I think we might actually break it and head to the $1600 area. And some alts like ADA or BNB can have their advance like they did in 2018.

[cabron]

Its always just speculation even when you are using the chart and indicators to identify possibilities of where it could go in a given time but if you take a look at it in long term, its always going up. This week may not really be going up as seen on your chart, people might think its too impossible to drop 19,000 because of the institutional investors coming into space but the RSI is very alarming because it hit the topmost.

[Reatim]

Technical Analysis on BTC/USDT
The signal line of the RSI indicator on the weekly chart is close to the resistance level, and if there is a crossover from top to bottom, then the correction will continue. In this case, there is a possibility of seeing Bitcoin even near the $20,000 mark! Of course, in this case, this kind of correction may frighten off some investors, but there are also those who are already preparing to buy at such a favorable price.

However, on the daily chart, at the moment the price rests against support, from where a rebound is quite possible. The RSI indicator in the neutral zone also indicates a possible resumption of the bullish trend. The MACD indicator is still in the zone below zero, however, it is starting to decline, indicating a possible transition in the opposite direction.

For more fundamental analysis, please refer to the article.
https://medium.com/bex500/is-it-another-chance-for-btc-to-hit-40k-this-week-846742e31329

Bitcoin had already reached that 40,000$ then there is no reason for questioning the capacity to increase value again.

for me ?Bitcoin will break 50,000$ within the 1st quarter and may Hit 100k for the whole year.

I may sounds over expecting but that's how supporter does , I'm not afraid of the Dump so how much for the Pump?

[exstasie]

JPMorgan analysts don't think so. They just released a new report claiming Grayscale inflows have peaked: Bitcoin Return to $40,000 in Doubt as Flows to Key Fund Slow

They believe the lack of institutional inflows has weakened bullish momentum, and that this will in turn cause momentum traders to unwind their long positions, further pressuring prices down.

[ultrloa]

Technical Analysis on BTC/USDT
The signal line of the RSI indicator on the weekly chart is close to the resistance level, and if there is a crossover from top to bottom, then the correction will continue. In this case, there is a possibility of seeing Bitcoin even near the $20,000 mark! Of course, in this case, this kind of correction may frighten off some investors, but there are also those who are already preparing to buy at such a favorable price.

However, on the daily chart, at the moment the price rests against support, from where a rebound is quite possible. The RSI indicator in the neutral zone also indicates a possible resumption of the bullish trend. The MACD indicator is still in the zone below zero, however, it is starting to decline, indicating a possible transition in the opposite direction.

For more fundamental analysis, please refer to the article.
https://medium.com/bex500/is-it-another-chance-for-btc-to-hit-40k-this-week-846742e31329

Bitcoin had already reached that 40,000$ then there is no reason for questioning the capacity to increase value again.

for me ?Bitcoin will break 50,000$ within the 1st quarter and may Hit 100k for the whole year.

I may sounds over expecting but that's how supporter does , I'm not afraid of the Dump so how much for the Pump?

For reaching that and suddenly the price that many people still keep looking forward that we can see that figures to be reached again although its quite hard for now for seeing the market is on bloody shape but still chances is so high due to some good support as well hypes floating around. But I don't really think bitcoin will reached at $50k for first quarter of the year since we might gonna see some struggling phase right now.

[Lucius]

They believe the lack of institutional inflows has weakened bullish momentum, and that this will in turn cause momentum traders to unwind their long positions, further pressuring prices down.

It is quite logical that when the inflow of money stops or decreases, the supply increases and the demand decreases, which results in a drop in the price or a certain degree of stability that we can see in the last 2-3 weeks. It seems to me that all of this has to do with everything that has happened or is still happening in the US. It is not yet clear what Biden and his administration will do about cryptocurrencies, but it may be indicative that the media has focused quite a bit on some new people who will be in very influential positions and do not have a very positive opinion of Bitcoin.

Tax returns are also filed at this time of year, which may be another reason why investors have slowed down a bit.

[Oasisman]

This week? Hmmm. I'm not sure but I think it's unlikely to happen. Bitcoin has been bombarded with the double spending issue a few days ago, and that causes a loss of confidence in Bitcoin to some investors. Though it didn't really pulled the price below the $30,000 level, but it's most likely Btc will just roam around the $30,000 - $35,000 region this week.
Despite all this negative news, Btc price remains calm and stabilizing over the last 3 days.

[Kittygalore]

JPMorgan analysts don't think so. They just released a new report claiming Grayscale inflows have peaked: Bitcoin Return to $40,000 in Doubt as Flows to Key Fund Slow

They believe the lack of institutional inflows has weakened bullish momentum, and that this will in turn cause momentum traders to unwind their long positions, further pressuring prices down.

But the lack of flow does not mean that it has run dry, Marathon just bought 150m USD worth of bitcoin. This might be a temporary thing to happen, hopefully that it will be the case. And even if the flow is lacking, the supply is still going low, many people are still in favor of hodling their bitcoin until another ATH is reached (I do not know if that is still the case) which means that this will be a slow growth or that we might be able to reach a 40k mark by half year at best.

[blckhawk]

For reaching that and suddenly the price that many people still keep looking forward that we can see that figures to be reached again although its quite hard for now for seeing the market is on bloody shape but still chances is so high due to some good support as well hypes floating around. But I don't really think bitcoin will reached at $50k for first quarter of the year since we might gonna see some struggling phase right now.

Yeah. I also have the same thought. The momentum is quite slow right now in fact, it only hovers around $31k-$32k for the past couple of days so I don't think it will go back $40k this week. There's a chance though but not certain. $50k for the 1st quarter of the year seems possible since there are a couple of months left and it is still early to conclude. It's unlikely to go up again at $40k and so going down at $20k, apparently, we are going to stay here for a while.

[bitgolden]

I believe TA is big part of the trading world but they are forgetting that investors are a thing and there are many investors who do not care about TA and invest into crypto like it is something they will hold for years so what it is today doesn't matter to them. However TA is deciding factor on what bitcoin "should" do, and sometimes it does what it should do while sometimes it doesn't do what it should do, in that case we could talk about will it be doing what it should do this week.

I believe bitcoin at 40k+ once again is a possibility, we all know that, you do not even need TA for that, and even TA suggests it so it is definitely a possibility, however I also believe that bitcoin made so many people so much money lately that there are a lot of people who just wants to get out, even against the chances of making a bigger profit, there are tons who wants to take what profit they have and leave, so an increase may not happen due to them.

[Wysi]

It's unpredictable at the moment, yesterday I made a post of possibilities of bitcoin crossing $40k once again due to the flash pump and again it has dropped down which makes my think about my own prediction. But we don't see any negative event in near future to pull the value of Bitcoin down hence I vouch that Bitcoin would cross $40k and I have kinda lost my trust in technical analysis as it often goes the other way around.

[Wulan_maniez]

The opportunity to rise to $40k is very open for bitcoin, as the  current price is  also  pretty  close if it is now $32k. Sometimes bitcoin
can go anywhere and even down and up, and technical analysis sometimes fails to predict it. It’s basically the market that determines
everything. If this week’s demand is much, it’s likely an opportunity to climb to $40k.

[arwin100]

It's unpredictable at the moment, yesterday I made a post of possibilities of bitcoin crossing $40k once again due to the flash pump and again it has dropped down which makes my think about my own prediction. But we don't see any negative event in near future to pull the value of Bitcoin down hence I vouch that Bitcoin would cross $40k and I have kinda lost my trust in technical analysis as it often goes the other way around.

Not at the moment but always unpredictable but seems the movement for now is so slow compare last month so most provably we cannot experience the same rhythm at this point. Maybe the possible $40k comeback will happen this second quarter of this year but hopefully it will be achieve back this first quarter so that we will have a good chance to see the price will reach to $50k.

[exstasie]

JPMorgan analysts don't think so. They just released a new report claiming Grayscale inflows have peaked: Bitcoin Return to $40,000 in Doubt as Flows to Key Fund Slow

They believe the lack of institutional inflows has weakened bullish momentum, and that this will in turn cause momentum traders to unwind their long positions, further pressuring prices down.

But the lack of flow does not mean that it has run dry, Marathon just bought 150m USD worth of bitcoin.

Nobody said this was an all or nothing situation. JPMorgan isn't saying inflows have completely stopped, just that they've slowed down and may have peaked. In terms of supply and demand, everything else equal, that indicates lower demand and thus lower prices.

Keep in mind that $150M can represent just a fraction of Grayscale's inflows for a single day. This purchase from Marathon means more as a headline than it does to actual supply and demand, at least when compared to Grayscale's effect on the market.

[Fakhrulenclix]

Anything can happen, But I think this week is not the time, Bitcoin needs to rest. Bitcoin is a good asset for the long term, so I think the final waiting is not $40K. So better you buy it now in this support area. Sooner or later Bitcoin will reach even defeated it. Investment is Patience

[sana54210]

It's unpredictable at the moment, yesterday I made a post of possibilities of bitcoin crossing $40k once again due to the flash pump and again it has dropped down which makes my think about my own prediction. But we don't see any negative event in near future to pull the value of Bitcoin down hence I vouch that Bitcoin would cross $40k and I have kinda lost my trust in technical analysis as it often goes the other way around.

Not at the moment but always unpredictable but seems the movement for now is so slow compare last month so most provably we cannot experience the same rhythm at this point. Maybe the possible $40k comeback will happen this second quarter of this year but hopefully it will be achieve back this first quarter so that we will have a good chance to see the price will reach to $50k.

It doesn't have to be fast and quick, as long as it happens it could take months before it can happen and I would be still happy about it. However bitcoin price doesn't go up slowly, that is not how it works, for example if it is going to be 40k we are not going to see it at 32k for a week, 33k for another week, 34k for another and so forth until it is 40k, that is not how bitcoin works.

It could stay around 30-35k for a whole month, or even few months, and one morning we wake up and the price broke over 40k. Those kinds of things could possibly happen, it is more about how it takes ages for bitcoin to move but when it finally starts to move it doesn't stop and it goes up a lot. I still think it is going to be 40k+ but I think it will not move much until it happens, it is going to be around these prices and then suddenly skyrocket over 40k with ease in a day.

[Yaunfitda]

And we have witnessed another downtrend in the last 6 hours, $30k and possible even lower if the trend continues. So the chance for bitcoin to hit $40k is over guys, we should look ahead next month if we can breach or surpass it again.

Seems to me that we might enter a bearish phase, although I'm very much very bullish, and it seems that the inflow of cash has suddenly slow down a bit and there are players who want the price to this level it seems.

[adaseb]

And we have witnessed another downtrend in the last 6 hours, $30k and possible even lower if the trend continues. So the chance for bitcoin to hit $40k is over guys, we should look ahead next month if we can breach or surpass it again.

Seems to me that we might enter a bearish phase, although I'm very much very bullish, and it seems that the inflow of cash has suddenly slow down a bit and there are players who want the price to this level it seems.

But did you see how quickly we rallied away from $30K. If you were watching the markets and looked at Coinbase, it was leading price by $200-$400 during certain points. Basically right before we dipped to $30K and rallied away from again. So I am thinking some other fund has invested in BTC below $30K.

This is very common since many use Coinbase for custody and usually when Coinbase has a huge premium compared to other bitcoin markets usually there is large outflow and a few days later some fund announces that they invested in BTC. Who knows maybe its Gamespot buying Bitcoin with its cash reserves, or better yet, Tesla.

[LogitechMouse]

Looks like we have a different situation right now as the market is bleeding.
Even the stock market seems to be bleeding too for some reasons.

Now to answer this question, it will not happen this week but in the next weeks to months probably. We might see Bitcoin stay on the $30,000-$40,000 price range before deciding which will it go.

[exstasie]

But did you see how quickly we rallied away from $30K. If you were watching the markets and looked at Coinbase, it was leading price by $200-$400 during certain points. Basically right before we dipped to $30K and rallied away from again. So I am thinking some other fund has invested in BTC below $30K.

Even so, it wasn't much of a rally. The market dipped back below $31K already.

I have no doubt there are still institutional inflows coming in, but the combination of those inflows slowing and retail/momentum traders unwinding long positions is likely still pressuring prices down. I'm definitely not convinced the January 22nd low in the $28Ks was the bottom. There could still be a capitulation coming.

[El duderino_]

All is possible but if you only want 40K to happen in like a week, then its points out that you're not in here for the right reasons, BTC isn't and will not be the easy get rich fast tool... Also lets say that most people answers yes, please then don't be the fool to use this information to work on you're strategy, jusy buy HODL, buy HODL, DCA the sh*t out of it. don't listen to many price predictions.

Just use this forum, twitter, .... whatever place of information sharing and use it just for a good read and extend them with your own research.

One or a few peoples words doesn't mean d*ck, the information combined/thoughts/reasoning of many people together might get you further...

But please not look for what your initial question was, cause you will be mislead more as you think, nobody knows, even those with the best talks will be more wrong as they are right in predicting BTC short term prices.

Btw just keep longterm believes and goals, BTC up is inevitable IMHO but then again who am I.

[CODE200]

That could even happen even with few days  But to how I vew the market right now, I guess it won't be able to comeback in an instant showing nothing much of recovery signs since the downfall upon achieving its new ATH. That's how complicated this market is. Everything is possible ; reaching again its ATH 'til next month or a deeper price cut' til next month. It is just hard to determine which direction will the market price of not only Bitcoin but also other cryptos, move. What will matter at this moment is the investor's decision to whether sell at this point or invest or hold. That will depend on how will you analyse this market right now. Any decision will face consequence or outcome, that's it.

[error08]

The price movement going sideways for days as the decline goes a bit further than it would and not implying a significant increase to $40k yet, then it's unlikely to reach that level this week. Although the technical analysis indicates it could be that way, the downward pressure may not over yet as a necessary pullback before a big rebound, many investors waiting for a lower entry-level.

[el kaka22]

And we have witnessed another downtrend in the last 6 hours, $30k and possible even lower if the trend continues. So the chance for bitcoin to hit $40k is over guys, we should look ahead next month if we can breach or surpass it again.

Seems to me that we might enter a bearish phase, although I'm very much very bullish, and it seems that the inflow of cash has suddenly slow down a bit and there are players who want the price to this level it seems.

But did you see how quickly we rallied away from $30K. If you were watching the markets and looked at Coinbase, it was leading price by $200-$400 during certain points. Basically right before we dipped to $30K and rallied away from again. So I am thinking some other fund has invested in BTC below $30K.

This is very common since many use Coinbase for custody and usually when Coinbase has a huge premium compared to other bitcoin markets usually there is large outflow and a few days later some fund announces that they invested in BTC. Who knows maybe it is Gamespot buying Bitcoin with its cash reserves, or better yet, Tesla.

We also can't say "chance for 40k is over" neither, because it is bitcoin, by Monday we could be 20k or 40k and both are quite possible when you look at the market. Why do I think 20k is possible? Because we were at 40k and slowly but surely we have gone down, we have reached 30-31k levels and people are still optimistic but there could still be some people who want to get out and if they could manage to bring it down under 30k and keep it there for just 24 hours the price could very well crash to 20k very quickly as a response.

Why do I think 40k is possible? We were already there not so long ago, literally inside this month, and we have gone down in a correction and whenever price goes down we keep buying back up and those huge wall street companies like grayscale keeps buying constantly which creates a great buy pressure that helps the price stay up and could lead to a big increase. Both are quite possible as you can see.

[Casdinyard]

The price movement going sideways for days as the decline goes a bit further than it would and not implying a significant increase to $40k yet, then it's unlikely to reach that level this week. Although the technical analysis indicates it could be that way, the downward pressure may not over yet as a necessary pullback before a big rebound, many investors waiting for a lower entry-level.

Another reason I think it will more likely took months before we see the market price, recover. Many investors are anticipating a lower market value for them to enter the market and invest as much as they can in order to be able to ride the trend once the market is again in upward direction. The market price quite move in the positive direction, in a bit, but seeing that some sort of resistance is present, it is hard to assume. The month is about to end in a few days and I guess it won't have a chance to go up both this week and this month. If it is the following month, it is still hard to tell. Anything could happen which may affect or influence this market.

[kentrolla]

I guess 40k again is doubtful according to the market trend because most of the big players have cash out their profits when it was in ATH and still many are eagerly waiting to see a dip again so that they can buy at low and sell it high again.

To me the trend looks it many play around 30k - 34k so it's better to invest according to market trend don't rush to buy at the current price read and understand the market before investing.

[Febo]

I guess 40k again is doubtful according to the market trend because most of the big players have cash out their profits when it was in ATH and still many are eagerly waiting to see a dip again so that they can buy at low and sell it high again.

If they sold out that mean they need to buy back. Or you think they already bought back?

To get to $40k this week something big needs to happen. Good news from EU, China or USA.

[yhiaali3]

I think that after the rally that occurred in the last period, we may face in the coming period a downward wave of Bitcoin due to a lot of bad news that occurred recently, which greatly affected the first cryptocurrency market in the world, fear of regulation as well as fear of the decisions of the new American administration, perhaps It makes some people stop buying bitcoins for now, so I wouldn't rule out seeing Bitcoin at  20,000$ again.