New Bitcoin support! Fall or rise?

[arwin100]

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.

Hard to predict on what would be the market condition in next following days but its good to read the news since actually we can get the latest info on what are the big fuds that can possibly affect the market although we don't have an idea on what will happen on future still we should have back up funds to buy in the dip if we really want to earn on bitcoins. Also we need to focus on our positions so that we will not end up being massacred if the market fall.

[buwaytress]

Yeah, sounds solid enough for support although I still think it's practically around 50k, temporary breaches of that notwithstanding.

Going to need to survive another weekend at these levels to firm up a direction. The way we stand, 10% moves in a day still too common to rule out consecutive shavings of the same magnitude. Even so, 40k is still an attractive support for me. Am sure for most of us too!

[kpierce77]

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.

What is meant by real value? There are several factors that can determine the real value of an asset such as the utility value of an asset, the level of satisfaction if it is used, their number and also other things. but in this respect, bitcoin is very different from what we learn. The first is like you said, because bitcoin is decentralized, then bitcoin is also currently very influenced by trends, so the fluctuation value is quite high. determining the real value of bitcoin will be quite difficult and even nearly impossible if we can't find a fixed parameter that we can use

[blckhawk]

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.

Hard to predict on what would be the market condition in next following days but its good to read the news since actually we can get the latest info on what are the big fuds that can possibly affect the market although we don't have an idea on what will happen on future still we should have back up funds to buy in the dip if we really want to earn on bitcoins. Also we need to focus on our positions so that we will not end up being massacred if the market fall.

Yeah, I've also thought the same thing. The Crypto market was hard to predict because there's a lot of factors that could possibly affect the price in the market that is why it is highly recommended to look upon some big news or event that might be a factor. However, that not will always be the case because there are circumstances that these factors could happen in an unexpected way like the dropping rate of mining rates due to flood in China. The thing is anything can happen in the crypto market, it is possible to drop at any moment which is why we should always be ready.

[Fundamentals Of]

The price drop was not unprecedented. There was a lot of instances when the price of Bitcoin dropped at least 50% in just a single day. That is difficult to imagine today when the price has already reached $65,000 but this price drop is not the first time. Of course it is the first time that it dropped more than $10,000 very quickly but in terms of percentage this drop is considered low compared to the past high drops of Bitcoin. So there is nothing very special about this correction.

[aysg76]

The correction and dumps are part of Bitcoin journey and in the end the prices will always rise and we will hit bull market after all the investment and money flow in the market again.We are already stepping a stone with prices growing from $47k to $54k within a week with MicroStrategy and Retail investors once again investing money into Bitcoin.

The best time is to invest when there is blood on the roads.

So whosoever has invested during this time will be happy in the long run because they still have invested at good price range as investing at $55k will not hurt when prices will be trading at $85-$100k range in the long run.So all support is in favour and growth of Bitcoin.

[uneng]

Very nice recovery from bitcoin already hitting 55,000$ again after two corrections which dumped the crypto currency to 51,000$ and 49,000$ support levels on the last days. I was expecting bitcoin could keep dropping to a new support level, following that sequence, but thankfully the opposite happened and it recovered without major corrections.
Now the tendency must continue and push bitcoin to 60,000$ again, so we can start thinking about a new ATH. The market looks very optimistic about bitcoin yet, despite some bad news around.

[LUCKMCFLY]

I think that Bitcoin is currently having a good recovery, however in the short term it has lost 0.22%, this is considerable from the point of view of scalping traders, and in another order of ideas Bitcoin is in a possible start of trend bullish, there is another investor that entered the market from South Korea, a giant called NEXON ... The analysis they do below is short-term but with a neutral efficiency index:

Bulls have gained footing above $54,000 and are accumulating more power for the ongoing test of the nearest target at $56,600.

Source: https://u.today/btc-eth-xrp-ada-and-bch-price-analysis-for-april-28

[FanEagle]

Now the tendency must continue and push bitcoin to 60,000$ again, so we can start thinking about a new ATH. The market looks very optimistic about bitcoin yet, despite some bad news around.

Yeah, we are going to have new ATH in the new month as usual. It would be very unlikely for bitcoin markets to break $50k levels any more as it is slowly moving upward for breaking the resistance around $56 to $58k levels. So, getting into $60k may happen at any time like within this April and in new month May, we may have new ATH around $70k levels.

OP was mentioning about support levels around $44k levels which may not happen any more as with recent correction bitcoin somehow manged not to drop below $47k levels hence the strong support levels around $45k will hold forever.

[Hippocrypto]

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.

The unpredictable market has been taking pressures for several times, and what's happening now is the reality of everything. Maybe we'll going to experience a lot of fluctuations before the big ones will going to happen. Don't rush your decision, because there might be an amazing things that going to come when our target value will be meet. Meanwhile we have to experience different scenario, let just ride into it.

[Ridwan Fauzi]

I have made a prediction that bitcoin price will fall to $40.000. Technically I see that there is ABCD downtrend pattern which is strengthened by the formation of a candle today will be a red candle. Also, seeing to the weekly time frame the movement pattern is storngly forming a head and shoulders pattern that will give a sign for the bearish trend.

[uneng]

Now the tendency must continue and push bitcoin to 60,000$ again, so we can start thinking about a new ATH. The market looks very optimistic about bitcoin yet, despite some bad news around.

Yeah, we are going to have new ATH in the new month as usual. It would be very unlikely for bitcoin markets to break $50k levels any more as it is slowly moving upward for breaking the resistance around $56 to $58k levels. So, getting into $60k may happen at any time like within this April and in new month May, we may have new ATH around $70k levels.

OP was mentioning about support levels around $44k levels which may not happen any more as with recent correction bitcoin somehow manged not to drop below $47k levels hence the strong support levels around $45k will hold forever.

I hope you are right and we don't drop below 47,000$ anymore. I think the market has total conditions of pushing bitcoin to 60,000$ soon with a possible chance of reaching the 100,000$ this year yet, as I have seen a prediction today. That is a good sign the market is very optimistic despite the mysteries behind the recent correction which couldn't be fully explained.
So it's important to be fully prepared, holding maximum coins as possible, because buyers are avid for bitcoins, influenced by FOMO, which is caused by institutions moving into crypto universe.

[777Jolami]

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

I think there are still hundreds of thousands of institutional investors who strongly support the bitcoin trend.  We took Tesla too seriously - Elon Musk.  The total they have as I know is approximately 35k BTC.  They are not the biggest holders of bitcoins.  The 10% they sold is unlikely to be the last reason BTC rallied $ 9k this week.  So in my opinion the main reason that will drive demand soaring but not massively but maintained throughout is that mining will decline following the move from China and JP Morgan to provide support.

[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.

What is meant by real value? There are several factors that can determine the real value of an asset such as the utility value of an asset, the level of satisfaction if it is used, their number and also other things. but in this respect, bitcoin is very different from what we learn. The first is like you said, because bitcoin is decentralized, then bitcoin is also currently very influenced by trends, so the fluctuation value is quite high. determining the real value of bitcoin will be quite difficult and even nearly impossible if we can't find a fixed parameter that we can use

And seriously there may not be any parameter to determine bitcoin value in price. This is because of the decentralised pattern that no body can regulate it. If it was not a community project, then you can wake up to see such but satoshi left the stage on bitcoin after accomplishing that.

[Stedsm]

No doubt there was a lot of liquidity at $47k, $45k and $42k but sellers were unable to break the $47k barrier to break BTC even more down. I believe that if it was an impact of sellers like Tesla owner who recently claimed that he sold some millions worth of BTC just to show the markets that there's ^enough liquidity^ in the markets, then it seems institutional investors will definitely bring out their BTC to start taking some profits out of BTC as their self-interest of earning profits on their investments has been met already.

[DarkIT]

Now the price of bitcoin is 57k,it was a hard to reach 45k.It's not happened in a shot period ,it take more than 3 weeks.The people who had hold their money in trading will do that trading as a part time job.They won't do it as a full time.It's not a gauranted profit from the trading,you should try to handle such situation to get good profit.

[carlfebz2]

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.

Im not against with TA's but knowing this crypto market where those analysis could really be fucked up anytime because this market doesnt really precisely goes into those charting analysis.

You can see supports but doesnt mean that it could eventually go there.Its better to be aware and be ready for plan B's because this would be likely the case to happen.

Asking about Fall or Rise is always been a question due to speculative manner or behavior of this market.If you dont know on how to ride off with the waves then
you shouldnt really be on this place.

[LUCKMCFLY]

Bitcoin has gained a lot of ground since this April 30, we are already in a weekend that we hope will be very profitable for everyone with good news, now the price has shown an incredible recovery, and the dominance of Bitcoin increased to 48%, It is around $57k almost $58k, the efforts of the bulls are paying off.

The analysis by Cointelegraph is very interesting because they think it can go as high as $64k again.

The next trending move is likely to start on a break above $64,849.27 or a slide below $46,985.02. Until then, volatile range-bound action is likely to continue.

Source: https://cointelegraph.com/news/price-analysis-4-30-btc-eth-bnb-xrp-ada-doge-dot-uni-ltc-bch

[pooya87]

There has been a very good momentum in the market from April 25 after price reached $47k and for the past 7 days the price has been slowly rising but with a strong buy support and a solid volume. The new FUD didn't seem to be successful and so far the bear-manipulators lost a lot of money for the whole week.
If the momentum is kept the price could be above $65k by the end of next week.

[Silberman]

There has been a very good momentum in the market from April 25 after price reached $47k and for the past 7 days the price has been slowly rising but with a strong buy support and a solid volume. The new FUD didn't seem to be successful and so far the bear-manipulators lost a lot of money for the whole week.
If the momentum is kept the price could be above $65k by the end of next week.

The FUD machine has been going on strong and despite all of this the price of bitcoin does not budge at all, this is a good sign however I must confess that I am worried because of what we are seeing in the market of altcoins at the moment, we are already seeing huge levels of speculation there and this is bad because it is distracting people from bitcoin and sooner or later this is going to generate a crash that could create another crypto winter we will have to endure for years.