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.