New Bitcoin support! Fall or rise?

[mr_ROBOTT]

In a meeting with my friends yesterday, we discussed the fact that Bitcoin has shown a decline that is unprecedented in recent months.
Yesterday we saw a price touch of $ 47,000 and today we had a good growth up to the range of $ 52,000 and I emphasize again that the main price range of Bitcoin will be at $ 44,000 and according to the market situation I will update this analysis but now the most support in The range will be $ 44,000.

[Upgrade00]

Bitcoin has shown a decline that is unprecedented in recent months.

That may need to be corrected to last few weeks, and the unprecedented struck out;
In the last couple of months, let's use three as a reference; Bitcoin has risen from approximately $30k to around $52k right now, that's an increase of ~73%. And twice within that same period of time, the price has broken above $60k, that in no way is an unprecedented decline.

$44,000 - $46,000 could serve as a strong support mark, although for now the price is rising it could drop at anytime, but shouldn't fall below that range.

[franky1]

well according to any measure someone purposefully chooses. they too can find a moving average that has no pattern before it

its funny how people selectively choose certain moving averages to set an agenda.
one time its m30-m60-m180 to say 'its following a trend.' then all a sudden a m50 doesnt follow a trend

well the $62k is not a norm. not a supported price.. its a near ATH unsupported bubbled spike. anything below that is just a correction

you cannot use a silly M50 stat that is post spike to predict the correction because everything after the spike is pure speculative hyped up prices.

you need to find the real supports before the spike to find where the real price will land at its new bottom

its like throwing a ball up into the air and back down at your head 10 times.. but you want to only include any statistical data AFTER the 10th throw. and pretend the other 9 throws never happened. where all your judgement falls on just the stats after the 10th throw while its in midair
'this throw is fell on my head. its unprecedented'.. sorry dude you have 9 other bruises from previous throws

maybe look at the motion as the ball went into the air. look at previous rises. then maybe you can predict where it will land and dodge the hit

..
in summary. using POST spike data to think about what prices were PRE spike.. but without even looking at pre spike.. is meaningless

M50.. pfft.. makes me laugh

[davis196]

This seems to be more like wishful thinking rather than a market analysis.
The Bitcoin price will continue to move in the 45-55K USD price range in the next few weeks.This is just my prediction.I don't want to make an analysis or draw lines over random charts.I don't care about the current Bitcoin price.All I care is how to get more Bitcoins.
Everything in the Bitcoin market can be called "unprecedented".The last winter bull run can be called "unprecedented" as well.Why should we always focus on the negative stuff,like price corrections.

[DU18]

I think we don't have to be trapped for too long in thinking about the future price of bitcoin because as one of the biggest crypto currencies, I am very confident that the price of bitcoin will be back in a good track so that with the decline in bitcoin prices now it is an opportunity for me to increase bitcoin stock. in my wallet, maybe as an analyst of course you know how to take into account price movements but as a trader I just want to take the opportunity to buy bitcoin when the price goes down and resell it when the price goes up even if I have to hold it for some time.

[BrewMaster]

there is a very good chance that the below $50k prices are now gone for good. the price we saw recently could be the last opportunity for people to buy bitcoin at those levels and from now on only above $50k prices are going to be seen. which makes $50k the strong support.
so far the rise is slow but strong with price currently sitting at $54250 and heading towards $70k and $80k levels next month.

[Twinscoin2017]

In a meeting with my friends yesterday, we discussed the fact that Bitcoin has shown a decline that is unprecedented in recent months.
Yesterday we saw a price touch of $ 47,000 and today we had a good growth up to the range of $ 52,000 and I emphasize again that the main price range of Bitcoin will be at $ 44,000 and according to the market situation I will update this analysis but now the most support in The range will be $ 44,000.

After bitcoin touch 47k$ it bounce back to 54k$ that was amazing right? It drops small numbers and bounce back a bit big from 50k$ to 47k$ and then from 47k$ to 54k$  isn't it amazing? I believe that if bitcoin drop up to 44k$ it will maybe bounce back in big numbers base on my own analysis maybe it will reach 60k$ in the next few weeks from now.

[thecodebear]

Likely continued building up a base in the $40,000s and $50,000s for a bit longer before the next rise. Price charts show Bitcoin is gearing up for a very long term appreciation, the move from $10k to $50k was the first leg of that. So I'd say roughly sideways for bit longer then rise. Market reacts fiercely to the upside when price drops below $48k. Buyers seem to know anything under $50k is a rare gem that won't last long.

[slapper]

Of course, many supports appear at $44000 but it does not mean that the price will reach $44000 before bouncing back. Since the price had wandered around $50000 for many days, it is a good sign proving that bitcoin is being bought a lot in this zone

But if you want to wait till $44000, it's up to you.

[STT]

50 day average is probably the gold measure for now, the simple take.  I always imagine we can go back to the 200 day but perhaps its more like the 200 day will come to meet us more then the other way round.   
   My quick look and 56k would be a good place to pass and hold for this week, just now we are passing the weekly average which is quite important to keep if the market is argued to be strong.   Just turning around in one day to me says a volatile market and inaccurate in its pricing but on a Monday these things can happen in the clash of the main markets starting back up.

[LogitechMouse]

I made a simple TA regarding the charts and it looks like the 100 Moving Average served as a support although it went down through it on the daily chart, it bounced up the day after which is a sign that the short term support that we are seeing is the $49,000.

My previous support before the crash was at the $48,000 then at the $45,000. It went down to $47,000 and bounced back after few hours. Buying Bitcoin below $50,000 is a good thing especially if you are just buying for short term profits. Now to answer your question, if Bitcoin manage to hold that short term support of $49,000 then there is a high chance that we might see it going back to around $55,000 or best at $60,000 or even higher. On the other hand, if it falls to that short term support then I see $45,000 as the next support followed by $42,000.

[LUCKMCFLY]

I believe that the price of Bitcoin is recovering again, for now due to technical analysis many have been able to determine that an imminent recovery is coming, but in the same way there are many ways to invalidate it, the whales may be setting bullish traps, however, This technical analysis shown in the article is very accurate for me:

Bitcoin remained well supported above the $51,000 level and it managed to extend gains. BTC gained bullish momentum above the $52,000 resistance and the 100 hourly simple moving average.

It even cleared the $53,000 and $53,500 resistance levels. A high is formed near $54,455 and the price is now consolidating gains. It already tested the $53,000 support level. The 23.6% Fib retracement level of the recent wave from the $47,010 swing low to $54,455 high is acting as a support.

Source: https://www.newsbtc.com/analysis/btc/bitcoin-price-breaks-hurdle-58k-next/

I think that $ 58k can be a good parking point for the price of Bitcoin, for a long time it was traded at this price level, once a good liquidity was reached the price rose to more than $ 60k, it should be noted that the whales are testing the lowest supply levels to take advantage of buying cheap.

[adaseb]

The news of Tesla selling some BTC seems to have been negative at first and then positive. Most people panicked at first but they only sold 10% of their holdings and their purpose of selling was mostly to test the liquidity of the bids.

This is important because since they own over $2B worth, because if they try and sell say 5% and it crashes the market by 5% then obviously their investment is not secure because they won't be able to liquidate in the future when they need to cash to open new factories or hire more workers. Since it pasted the liquidity test then its pretty bullish. Way too many people panicked however price is still holding up well.

[ethereumhunter]

If the price is back to below $50k and still down to $44k, that will be the worst scenario that can happen later. But we can not avoid that if the price really drops more than before unless we can prepare for that situation. Maybe we can say that the price will stay at $50k and stable at that price, but the truth is we do not know because who knows, bitcoin price will have another correction that can make the price going down too deep than before. If you want to buy at that low price, you need to prepare your money and wait for that time.

[Wexnident]

I guess we have around $45k or so as the support, seeing as we went up to $54k after that drop to $47 something last night. Seems to be the standard start-up of a straight line movement that the market usually does before it goes up or goes down fully. Still, news of some magnitude may influence it much earlier and something may just actually happen. Looks like there were news of Elon (or rather rumors) that he sold his Bitcoin, turns out he didn't. Tesla did however sold some of they're bitcoin.

[karanggatak]

The news of Tesla selling some BTC seems to have been negative at first and then positive. Most people panicked at first but they only sold 10% of their holdings and their purpose of selling was mostly to test the liquidity of the bids.

This is important because since they own over $2B worth, because if they try and sell say 5% and it crashes the market by 5% then obviously their investment is not secure because they won't be able to liquidate in the future when they need to cash to open new factories or hire more workers. Since it pasted the liquidity test then its pretty bullish. Way too many people panicked however price is still holding up well.

only 10% I think it is not so influential there is still the remaining 90% they have of the total investment, I think the news will not really affect the market, what affects the market is how USA policy in the next few days if it happens like last week it could be a bitcoin crash again but hopefully in the next few days there is good news so that bitcoin continues its bullish so that it reaches a new ATH.

[Ararbermas]

After bitcoin touch 47k$ it bounce back to 54k$ that was amazing right? It drops small numbers and bounce back a bit big from 50k$ to 47k$ and then from 47k$ to 54k$  isn't it amazing? I believe that if bitcoin drop up to 44k$ it will maybe bounce back in big numbers base on my own analysis maybe it will reach 60k$ in the next few weeks from now.

correct that's why im not surprised anymore on what will be the next result of bitcoin after all the fluctuation in the market .. Because i do believe that it still can recover back or even excess as long as still have a strong support..  Indeed it will not bounce back if it dont have strong resistance/support . Wherein maybe its now keep falling like a rock in my opinion..
And this  current situation? well for me its due to some greedy hodler and this is nothing for sure. because indeed despite bitcoin still making a sign in the market, and i have doubt perhaps it keep searching again for new place to land.. The uptrend isn't done yet..

[just_Alice]

only 10% I think it is not so influential there is still the remaining 90% they have of the total investment, I think the news will not really affect the market, what affects the market is how USA policy in the next few days if it happens like last week it could be a bitcoin crash again but hopefully in the next few days there is good news so that bitcoin continues its bullish so that it reaches a new ATH.

The factual sell didn't cause much trouble and probably had no significant effect on the price itself. However, the very fact that Tesla sells may have caused panic, because there was a portion of new Bitcoin adopters, that purchased Bitcoin after Elon's strong and public support.
Also, I wouldn't be so eager about the new ATH, there's still a correction going on. Give BTC a break, it needs to stabilize

[pooya87]

Falling days are over and the chance to buy bitcoin at a 20% discount is too.
But they are trying to push some new FUD for the following week(s) to try and keep the price down and maybe even short it a little more. It is impossible to predict how the market is going to react to this new FUD though, so we may end up seeing yet another bear massacre where they lost a ton of money relying on their FUD strategy soon.

[Gozie51]

In the past ,I have read the speculation about the real value of bitcoin and nobody could estimate such and that is still difficult to predict till date because bitcoin is decentralised, not regulated and price can only be speculated. In recent past we were in the area of $20,000 but a year ago till now has seen a high growth despite analysis on real value. The real value of bitcoin is not known and predicting a fall because of fear of real value may be beating around price and prediction because it is unknown.