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[ultrloa]

@Ratimov Sir, I'm watching a lot of sentiments from people and most of them have called $20k to be the bottom for this year, but I think that if $20k will be touched, btc will continue its downtrend till $9650 more and it will be more tragic to say but btc will not recover for at least a few more years based on its previous ranging cycles.

When bitcoin dips below $20k, there will be no recovery. There already will never be a sustained (10+ days) recovery above $35k, as I've confirmed and mathematically proven.

I don't know whether there is possible chances for recovery or not, but I believe the market is gonna experience downfall as it happened during the years after the previous bull market. You're great and you've done a perfect calculation of the market to sustain above $35k for ten days. I was counting the days, anyhow thats a precise prediction from you.

That's what I think also since August is ghost month and this month mostly the bear market season in crypto so expect that we can experience more of it these days since many are at fear. But lets watch how the market flows in forth quarter of this year since if we cannot see a price recovery then maybe we can experience a huge bear season.

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[STT]

The bottom of this move or overall even is when enough people jump in regardless of any general doubts.   You can tell where that is personally to some extent, problem is the market has a crowd mentality to it where nobody wants to go first.   Hence we will over correct and it always occurs like this, anything sub 30k is a value area is my take some time ago and here we are reaching into that area.  It should catch somewhere around here but its all relative.

[Xinarae*]

It is better to enter the market by analyzing the market floor those who enter the market without knowing anything leave the market after losing everything and becoming frustrated. This is why you have to keep your mind fixed and at the right time to hold the currency no matter where the market goes even if the price goes down it will go up again waiting a while will make the information about the market easier.

[Obito]

I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

[xSkylarx]

Where do you think the bottom is and what will happen next for the bitcoin price?

Bitcoin is really unpredictable so no one can predict where will be the bottom. Price could dump hard in a week and can also pump as well. For me, the dump recently at $28k was the bottom. We quickly recovered from that dump and now trading at $34k. I could be wrong also if fud suddenly shows up again resulting for it to dump again. If that was the bottom then I think next month would be a green market for bitcoin again and also to other cryptocurrencies.

[adaseb]

If the $30K doesn't hold and I had to guess, I would say that next bottom might be at $20K and if not then maybe slightly below that figure. Most likely everybody will want to long at $20K because its the easiest technical analysis out there "Resistance becomes Support" so most likely it might go to $21-22K before going back up to front-run those people.

Or it'll go to $20K, people will buy, it'll trade sideways for a few days or weeks and then all of a sudden dump and break $20K. Then people will panic it'll go to like $18K and that will be the bottom. Or maybe the bottom will be $16K which is around the 200 WMA which has been a very good bottom signal the last 3-4 times it touched.

[777Jolami]

I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

I am not an expert in analyzing markets, charts and candles.  But I can understand that the strong support at $28k is once again holding its ground.  That's certainly been tested at this level.  And for that reason, I don't think it can break and go deeper.  Although the FUDs from China are always very negatively affected but there is no chance of a repeat like 2018, Fud will end soon this week when there is a large supportive consensus.  Bitcoin is not alone, not again!

[leea-1334]

Or it'll go to $20K, people will buy, it'll trade sideways for a few days or weeks and then all of a sudden dump and break $20K. Then people will panic it'll go to like $18K and that will be the bottom. Or maybe the bottom will be $16K which is around the 200 WMA which has been a very good bottom signal the last 3-4 times it touched.

I feel that if 20k happens again it will cause something really big to happen,,, First because Bitcoin has never gone back to visit the old ATH after breaking past it (correct?) and secondly because it will make people think of 10k again. So either dominos tumble and Bitcoin again in danger OR people rebound it to an extreme rally that takes us higher than we imagined:)

[ethereumhunter]

I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

I am not an expert in analyzing markets, charts and candles.  But I can understand that the strong support at $28k is once again holding its ground.  That's certainly been tested at this level.  And for that reason, I don't think it can break and go deeper.  Although the FUDs from China are always very negatively affected but there is no chance of a repeat like 2018, Fud will end soon this week when there is a large supportive consensus.  Bitcoin is not alone, not again!

Maybe $28k is the lowest price for bitcoin and it will not reach the other lowest price in near. But it could get down if China still spreading the bad news for bitcoin and that make people panic by selling their bitcoin. I think we should not think much about the news from China because they want to make us panic so they can use the moment to buy bitcoin at a low price. We believe in bitcoin, and that can help bitcoin survive.

[Kong Hey Pakboy]

I don't think we can accurately know what is the absolute bottom of bitcoin since there is a likely chance that it won't go any lower than the last time so we just can speculate what's going to happen next and in the end we just need to have bitcoin in our wallets no matter what happens in the market.

[Taskford]

I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

I am not an expert in analyzing markets, charts and candles.  But I can understand that the strong support at $28k is once again holding its ground.  That's certainly been tested at this level.  And for that reason, I don't think it can break and go deeper.  Although the FUDs from China are always very negatively affected but there is no chance of a repeat like 2018, Fud will end soon this week when there is a large supportive consensus.  Bitcoin is not alone, not again!

Maybe $28k is the lowest price for bitcoin and it will not reach the other lowest price in near. But it could get down if China still spreading the bad news for bitcoin and that make people panic by selling their bitcoin. I think we should not think much about the news from China because they want to make us panic so they can use the moment to buy bitcoin at a low price. We believe in bitcoin, and that can help bitcoin survive.

I also think that is the lowest price  we can get for bitcoin right now but if the 28k$ break maybe we can see the price drop more and hope we cannot see another worst just like before, but the adoption now  is so strong so I guess we cannot really  experience such huge lose. Maybe  lets forget about  China fuds for now since its not really helping and creates panic to the new users.

[davis196]

The Bitcoin price dropped to 29-30K for a few hours and you began predicting a new bottom and a new flat?
Your post looks like FUD to me. The current BTC price is 33K USD.It might drop under 30K,but it might recover back to 35K.Nobody knows what will happen.I think that the price will drop after a few weeks,because more traders are going to sell.There aren't any bullish news recently and the FUD will continue.Many traders will get tired of HODLing their Bitcoins.
The summer is not the best time for a Bitcoin bull run and a FOMO phase.

[Lucius]

The summer is not the best time for a Bitcoin bull run and a FOMO phase.

When was summer (in the Northern Hemisphere) the right time for a cryptocurrency market? Big things usually start to happen only in August and after, and it is very possible that this will happen this year as well.

In the meantime, smart people will accumulate as much as possible, they will try to have as much FUD as possible and they will look forward to each new dip with great enthusiasm. So many people who think that this is the beginning of what started to happen in 2018 is really a real disappointment for me, because many seem to have trouble understanding some basic things.

[LUCKMCFLY]

At this time there is a lot of uncertainty, because the market has given high volatility movements, there are many times that they talk about a possible fall until 24K, the most bearish say it can reach $ 20k, and some say it is not very feasible to buy In the DIP, but they are simply speculation, according to this article, the opinion is very complete:

Zooming out on the chart, the trend on a macro-level is still under choppy (*coughs bearish) conditions. The structured range within which Bitcoin has consolidated over the past month is a strong indicator that the market is possibly reaching another low in the next few weeks. Over the next two weeks, Bitcoin could re-work its way to $35,000 but a mere re-test would not confirm a bullish reversal.

Source: https://ambcrypto.com/is-buythedip-the-right-call-for-bitcoin-ethereum-and-altcoins-now/

For now in my particular case, I would keep myself outside the market and those who have BTC would only dedicate myself to Hodl at least until more clearing on the market.

[7788bitcoin]

When was summer (in the Northern Hemisphere) the right time for a cryptocurrency market? Big things usually start to happen only in August and after, and it is very possible that this will happen this year as well.

This is what i expected this year but the huge rally started earlier than expected and most of them who were planning to invest did not get a chance to time the investment and with the pandemic affecting many i am sure majority did not get the opportunity to invest just before the rally began and if the market will once boom in the next few months then it is definitely an opportunity for everyone who missed out.

[Quidat]

When was summer (in the Northern Hemisphere) the right time for a cryptocurrency market? Big things usually start to happen only in August and after, and it is very possible that this will happen this year as well.

This is what i expected this year but the huge rally started earlier than expected and most of them who were planning to invest did not get a chance to time the investment and with the pandemic affecting many i am sure majority did not get the opportunity to invest just before the rally began and if the market will once boom in the next few months then it is definitely an opportunity for everyone who missed out.

No one had actually expected the rally that happened because who had thought that there would be some nasty run since we are on the middle of a pandemic situation? None right? Even myself or majority on the community did really have almost the same view that the market would have some decline considering that the economic state is really very unstable due to pandemic but we had seen the different side of things where this crypto market did really make some good run instead which is very unexpected and i agree into the point you had stated on here.

[STT]

To establish positive action its important now we stay within range of January action and also accumulate above moving averages such that we reach momentum to challenge more obvious levels like the 200 day average and I think 40k has become a general pivot area.



This is a messy fast chart, 15m bars but the idea would be simple stay above the blue line for fast momentum and if not then at least above the horizontal line which is important support across days and weeks.  Target is just below 40k where we will meet our old friend the 50 day moving average and this is probable selling and where a true measure of strength will occur.    For most of the 2021 we stayed above 50 day so its a weight over us now.
  Just now the highs are retracting from weekly average which is the standard boundary between negative and positive trending market.

[GreatArkansas]

(....)

The support was tested, but not broken, the price bounced up quite confidently.

Very simple chart yet important. What I can see here is the $30,000 level is extremely strong support for now on Bitcoin.
What I am worried about now is the monthly closing candle below $30,000. If this will happen, I am expecting what happens to the monthly candle closed last month, which not managed to close above $40,000 and look how the price of Bitcoin went this month.
So, if ever Bitcoin will make a monthly closing candle below $30,000, very bad.

[ethereumhunter]

I don't exactly know where will be the bottom for bitcoin and if the pattern from 2018 will be followed but we can always hope that we will see the pattern repeat but much bigger than the last time.

I am not an expert in analyzing markets, charts and candles.  But I can understand that the strong support at $28k is once again holding its ground.  That's certainly been tested at this level.  And for that reason, I don't think it can break and go deeper.  Although the FUDs from China are always very negatively affected but there is no chance of a repeat like 2018, Fud will end soon this week when there is a large supportive consensus.  Bitcoin is not alone, not again!

Maybe $28k is the lowest price for bitcoin and it will not reach the other lowest price in near. But it could get down if China still spreading the bad news for bitcoin and that make people panic by selling their bitcoin. I think we should not think much about the news from China because they want to make us panic so they can use the moment to buy bitcoin at a low price. We believe in bitcoin, and that can help bitcoin survive.

I also think that is the lowest price  we can get for bitcoin right now but if the 28k$ break maybe we can see the price drop more and hope we cannot see another worst just like before, but the adoption now  is so strong so I guess we cannot really  experience such huge lose. Maybe  lets forget about  China fuds for now since its not really helping and creates panic to the new users.

I am a bit worry if the price is down below $28k, but if that price breaks, we have more chances to buy bitcoin at a lower price. Hopefully, the price will not go down below $28k-$25k. The adoption factor can be the reason for bitcoin to hold the price not to going down too deep. I do not think seriously about China fuds because I doubt they will still play mass panic to the public. After all, the public will know that they just want to make them sell their bitcoin at a downtrend so China can buy a huge amount of money bitcoin for their benefits. If China still plays like that, we need to be behind them to use that moment for our benefit.

[leea-1334]

This is a messy fast chart, 15m bars but the idea would be simple stay above the blue line for fast momentum and if not then at least above the horizontal line which is important support across days and weeks.  Target is just below 40k where we will meet our old friend the 50 day moving average and this is probable selling and where a true measure of strength will occur.    For most of the 2021 we stayed above 50 day so its a weight over us now.
  Just now the highs are retracting from weekly average which is the standard boundary between negative and positive trending market.

Very hard to see this happening in this period of extremely high selling pressure I think but you are right, as long as when we stretch to days and weeks view, if we can stay close to the line or even above it then there is enough momentum to prepare in the case of consolidation.

Need to break 50MA first and like you said where plenty of sellers are waiting.