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[Symmetrick]

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[ziyaaa]

It's really hard to predict it precisely in the recent times. Considering the continual fall of Bitcoin price, I guess it will continue until seeing a level below 30k dollars. When we see even a price like that, I think this decrease can continue until seeing 25k dollars.

[Tytanowy Janusz]

I see it more like a falling wedge here with resistance being tested 8 times (one fail breakout). Which used to be a bullish pattern.



And here we are with resistance being tested 8 times and support being tested at least 5 times. On 5m candles we can see how frustrating this moment is with price being smashed down just to be pumped back up, to give up and fall back down etc.



With stoch RSI being at ATL (on weekly candles) ... never held that long that low ... maybe once?. With fear/greed index locked at extreme fear for 3 months. i feal like breaking support will not trigger much more sell-off. Investors are already scared. From 30k down to  27k maybe. Thats -10%. On the other hand. Breaking resistance will push us at least to 42k (+30%). Looks like bulls have much more to earn than bears, resistance was tested more times than support which makes me more bullish than bearish but its like 60:40.

[Tytanowy Janusz]

I have a thought about this. That a breakdown below $30 000 will still take place. This is necessary in order to fold the last long-players, catching a large portion of liquidations and stop-losses. After that, the price will reverse and go to test the powerful resistance at $40 800, marking a trend reversal.

Manipulators will now benefit from the strait in order to knock out even more moment from fearful hamsters. Growth often starts after a big spill, and many believe in the current level at around $30 800 and therefore does not sell. We need to get them to sell. How? Taking away their faith that holds together with this key level of support.

People already put their hope in 31k, broken together with 30k psychological level down to 28 800 in 22nd on Jun. Then everyone was talking about wyckoff accumulation pattern ... broken.

We should be at 42k now.

There is always a way to scare away more investors but ... are bears gonna attack it for +10% risking being liquidated?... 25% monetary inflation does not sleep. Bull run on SP500 does not sleep (BTC/STocks Correlation etc), corporate debt bubble does not sleep (Bitcoin just started to eat its portion of corporate debt bubble cake). Almost wvery single asset last 4 months was pumping ... except BTC. I might be wrong ... not the first time ... but i think that we are closer to huge green candle you were talking about rather than another push down.

The only thing that could scare more invesotrs and push btc below 25k for good is a massive sell-off, massive panic on stocks. SP500 dumping 40%.

[Woodie]

The interesting thing at looking at this chart is that the bearish candles keep reducing in size and now we have multiple small red candles on the downwards which are a sign that sellers are losing control of the market and we should be expecting a bullish candle anytime soon as buyers take control of the market, more like the falling wedge as @Tytanowy Janusz as posted.

[Tytanowy Janusz]

The interesting thing at looking at this chart is that the bearish candles keep reducing in size and now we have multiple small red candles on the downwards which are a sign that sellers are losing control of the market and we should be expecting a bullish candle anytime soon as buyers take control of the market, more like the falling wedge as @Tytanowy Janusz as posted.

Red candles are smaller and smaller but green candles are doing the same. Its not because of sellers/buyers losing control. Its because we are locked in 30-40k range for 2 months and volatility goes down and down with every day. Thats normal. Its not like I'm sure about whats going to happened. From chart only ... i would say its 60:40 for testing 40k before final decision (bear or bull market for next 6 months) but from looking at fundamentials together with economy condition (high inflation and everything is pumping) I'm much more bullish than bearish.

[Fesatmas]

Have you seen the accumulation area? What is certain is that if it breaks below the support line, a deeper correction will be clearer.
Or maybe the buyer has returned? whereas a few days ago it was reported that around 2000 BTC was withdrawn. At least there is a reduction in large transactions in the market then the holders hold them for a long time. so if this continues, without us needing to guess again the price of Bitcoin breaks below $30,000.

https://cointelegraph.com/news/traders-are-withdrawing-2-000-btc-from-centralized-exchanges-daily

[LUCKMCFLY]

Bitcoin has been making bullish-style movements, but the pressure from the bears has been very strong, since yesterday they have brought prices to $ 31k, there is a lot of demand but the supply at these levels is a lot, maybe because of This is why the price still does not take a good leap:

If the price rebounds off the $31,000 to $28,000 zone with strength, it will suggest accumulation at lower levels. The bulls will then try to push the price above the moving averages. A breakout and close above the 50-day simple moving average ($35,084) will be the first sign of a possible change in trend.

Source: https://cointelegraph.com/news/price-analysis-7-16-btc-eth-bnb-ada-xrp-doge-dot-uni-bch-ltc

This weekend can give nice surprises in BTC if the bulls start to push up the price, of course the demand helps a lot if they eliminate the supply to the mens in the range of 435k to $ 35k.

[Ararbermas]

I believe that the current support is still very strong which around $30k. and for me there is no way bitcoin will going further below on that price as it's been tested for how many times since market fell like a rock and its unbreakable. so on this situation its impossible to happen in my view, infact we don't see any reason nowadays why it will continue to decrease more, it's because most of negative news are done already.. Perhaps this is just another correction of the market mate..

[gabbie2010]

I believe that the current support is still very strong which around $30k. and for me there is no way bitcoin will going further below on that price as it's been tested for how many times since market fell like a rock and its unbreakable. so on this situation its impossible to happen in my view, infact we don't see any reason nowadays why it will continue to decrease more, it's because most of negative news are done already.. Perhaps this is just another correction of the market mate..

That support had been rejecting the price the last attempt to break it was the sitxth attempts with reference to 4 hour chart BTC/USD timefame I believed that zone is a good buying zone when the price dipped down the area this emphasizes the fact that as far as the  market price of bitcoin is concerned the bears are still in full control of the market whatever bullish runs experience by price now is more like a bullish trap, the best bet is to buy at the support and sell high after the price made some minor bullish moves  and take some profits and wait for another opportunity or the price dip, for now there is no clear indication of the bulls taking over the market, although hodlers can continue to utilize this opportunity buy piecemeal and accumulate perhaps the long term price perceptive of the price resuming it bullish sentiment will favor them, this is not the first time price of bitcoin will experience a major correction, in the previous ones the price later rally upward hopefully before the end of the year the anticipated bullish sentiment will resume.

[janggernaut]

Strange, today bitcoin price is supposed to dump because of biggest grayscale bitcoin unlock will happen on today. They will unlock almost 17,000 Bitcoin today. But i don't see any dump of bitcoin until this hour, it was even got pump to above $32,000

[magneto]

Personally I think it's a matter of time before a correction takes us down under.

There is simply too much bearish sentiment in the market right now. The FOMO mania is all but past us and I don't think that will return for at least until the next halving cycle.

I think that we'll steadily decline to around the $20k level, test the support there, and potentially go even lower than that. $30k support is going to be transitory.

Either way though, this is a great opportunity to accumulate if you are looking to get into BTC for the long run. Start your DCA schedule.

[buwaytress]

Strange, today bitcoin price is supposed to dump because of biggest grayscale bitcoin unlock will happen on today. They will unlock almost 17,000 Bitcoin today. But i don't see any dump of bitcoin until this hour, it was even got pump to above $32,000

Strange and yet not unexpected. Bad news doesn't seem to affect Bitcoin markets as much as they should when they have been anticipated. Same as good news. Remember all those Bitcoin ETFs that eventually happened? Probably all priced in by now and if so, then if this is the worst this item of news could do, bulls must be happy.

Of course, we have an entire week to see this out.

[Tytanowy Janusz]

Personally I think it's a matter of time before a correction takes us down under.

There is simply too much bearish sentiment in the market right now. The FOMO mania is all but past us and I don't think that will return for at least until the next halving cycle.

There is bearish sentiment on the market because price goes down. I've never seen a situation in which price was going down while everyone was bullish. Its always like that. Smart money accumulate, smart money push price up, street fomo in. Push to 45k and you will see how bullish everyone will be.

Currently we are in "extreame fear" for 3 months. Price is oversold. There is not much space to go down. We need to test 40-45k and fail to protect there levels to dump to 20k.

[Dhaniii]

Do you think Bitcoin will break through the key support level of $30 800? The situation, frankly speaking, is not rosy on the daily chart.  



We have already come close to this level. If you look at the chart from May 17, then we have already tested this level 6 or 7 times and now another test awaits us. Traders are well aware that if a certain level is frequently tested, then sooner or later it will still break through. It is also worth paying attention to constantly falling tops, from which the fall begins. At first it was $40 700, then $36 000, then $35 000, $34 000. And now bitcoin cannot rise above $32 000. The price is constantly pushed and brought as closely as possible to the key support level. If we break it, then the price can rush to $26 000 - $28 000.



Unless a miracle happens and a large green candlestick is drawn right near the support level, which will break the local downtrend and draw a reversal pattern.

Analysts are confused lately about market movements. they cannot determine the truth of the current graph, in general they can guess and can only be limited to predictions. the current market is very confused making investors unable to sleep well.

[El duderino_]

Eeeuhm eeeuhm

All TA is flawed 

Though good work keep the spirit keep painting lines 

I’m maybe just the to overly bullish fool that sees  a possible RISE happening every damn second

35-40 next week ? Or the week after let’s see

[El duderino_]

Personally I think it's a matter of time before a correction takes us down under.

There is simply too much bearish sentiment in the market right now. The FOMO mania is all but past us and I don't think that will return for at least until the next halving cycle.

I think that we'll steadily decline to around the $20k level, test the support there, and potentially go even lower than that. $30k support is going to be transitory.

Either way though, this is a great opportunity to accumulate if you are looking to get into BTC for the long run. Start your DCA schedule.

Ooooow 20k and lower for next few years

Thx for the info, good to hear you say all sentiment is bearish

Totally different in my world, but probably I’m wrong

Though I’ll keep my own thinking in this one

Cheers

[Dhaniii]

Analysts are confused lately about market movements. they cannot determine the truth of the current graph, in general they can guess and can only be limited to predictions. the current market is very confused making investors unable to sleep well.

It may not be just that. There are also those who give the community the analytics they "need". More often than not, these forecasts are manipulative in nature and are designed to nudge people to buy or sell assets in order to raise or lower the price, respectively. I do not trust any public statements regarding the future price of bitcoin, especially if they are some analysts from banks or funds.

All TA is flawed 

That is why use graphical analysis rather than technical analysis.   

I myself don't believe in the current public analysis of bitcoin, it needs a lot of accurate sources for this case before deciding to buy or not.
Don't be a sheep that falls in the same hole three times, it's really embarrassing.
especially the analysts who have a correlation with the project being carried out, surely they have a reason that drives and the success of their project.

[hatshepsut93]

I think we will, in the past bear markets the price didn't plunge by 80% in an instant, it was a long process that took about a year. This current stagnation and slow decline falls within the pattern of previous bear markets. But I don't believe that we will drop as low as -80% from the ATH, this bull run was smaller and it would be logical to have a smaller bear market. 80% crash would put us at $12.8k which isn't farm from were we started. I think $18-22k bottom is more reasonable.

[barota]

in my opinion i think , if you talk about support $30 800 for the short term , prices bitcoin can rise from the support always to 40000$ , but after some months,who know if prices to reach even 20000$ or not ,the prediction of prices bitcoin is very dificult because sometime , news and fud effect on the market then for sure pump and dump we've seen this type of rise and fall on prices before because of news always