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Author Topic: btc market up  (Read 157 times)
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July 26, 2021, 11:58:42 PM
 #21

I much prefer figures and the chart to news especially, or in this case we moved on a rumor which can be deceptive also.   We were due to rise after outlasting a (recent) downtrend, we also recovered back above the both section of range support and have reached the upper limits of that same regular range.    Its much easier to spot on a graph then explain in words I think where everyone have different ways to phrase behavior and action.




So we've challenged that downtrend overhead but not beaten it yet.    We are wavering around that 37.5k range recently and also in the month of Jan this year we kept similar prices to now hence I correlate and relate action now similarly to price action then.
   My expectation right now is despite regaining some momentum we can easily repeat the range as previous, so back to the 50 day average and we might have to recheck 33k for strength.     How news matches these movements I dont know but already Amazon rejects the rumor and so on, we dance back and forth.  
  I see 50 day average is rising now and in the picture the blue line at bottom is the 2 day, weekly average would be  way back at 33k area.

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July 27, 2021, 01:26:53 AM
 #22

^^ Yeah, since the $40k range has been rejected, and we are now down to $37k, I wouldn't be surprised if we go back to the $33k-$35k range. It's not that bad though, at least we can go back down to the support levels that has been holding for many months now.

It's just sad to see that $40k can't be breached as obviously, investors chooses to sell again to make instant profit.

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July 27, 2021, 03:30:28 AM
Last edit: July 27, 2021, 03:43:02 AM by ivankoh
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 #23

The pump now is quite good and has touched the 35k level a little bit after this has been passed maybe it will continue, hopefully it will happen.
Before moving to 35k, it was sideways slowly and started pumping very fast. and we know it's a cycle. And obviously, the 40k range is still very hard to break, the market looks like a transition to a new support test zone. New opportunity if 36k right now holds well and no panic then we can hope to start next new cycle.
I'm still bullish on the next 45k or 47k.
If this pump cycle only comes from Amazon moves, I don't think it needs to happen.

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July 27, 2021, 03:35:33 AM
 #24

The thing is, even though we broke $40K, we are still in that $28-42K range. And we are still in a Summer month which has usually low volume. So jugding by how bad the rejection was at $40K, this might of been nothing but a range top, there is a good chance we will go back to the mid range or even back to the $30K range sometime next month.

So unless we break $42K with massive volume or $28K with massive volume AND stay above/below those prices, we are just trading sideways. And this is dangerious to most traders because they are getting chopped left and right and even if BTC hits $100K one day, they will have no more satoshi's left.

So many people were bullish yesterday and 5 days ago so many people were bearish. Proof that the sentiment changes every day pretty much in cryptoland.

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July 27, 2021, 04:12:45 AM
 #25

It is nothing new and am not surprise at all, btc always manage to get up any time it went down in price, like always this is no different and I believe it will go a lot more higher in coming weeks and months probably, I can't wait to see what will happen next, all those who thought btc will go to $13,500 will be disappointed, they had the opportunity to buy at cheap price but they didn't.
why should be surprised, that's something good. they are reaping what they have sown. they are currently enjoying the harmony they had over the past few weeks and something happy is happening to them.
btc will continue to rise going forward, although sometimes it goes down a little it's normal and there is no need to worry about falling again.

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