Is Bitcoin about to break out of the $30,000s market bottom?

[thecodebear]

What do you think? After the Amazon rumor pump, followed by dropping back to $36k when Amazon said it wasn't true, Bitcoin is now a day later back pushing $40k. The market bottom has been roughly the $30,000s range (basically $29k to $41k) for the past 2+ months, do you think bitcoin now has enough strength to break out of the bottom of this mini-bear market in the next few days/week or will the price slump back down and stay in the $30,000s for a while longer?

Continued ranging on the bottom or break out and starting to move back to ATHs?

[cabron]

Its going in the opposite direction that you are thinking. The bulls seem to be fighting back and it's breaking that $40K instead. If this is what will happen in the next few weeks which is likely going to since its still low. Maybe the $60K will be back again. I wouldn't want to put some hope but the price staying above 30,000 to 40,000 is a good indicator.

[pooya87]

The price rise had nothing to do with Amazon, it started long before the fake news came out and even after it people weren't paying any attention to the Amazon news. This is also not the first time they spread some fake rumor about some big company like Amazon accepting bitcoin and the price never reacts to it.
The reason why it dropped back down was also not because of Amazon news, it was simply because it reached $40k and the whale manipulators weren't ready so they unloaded on the market trying to delay the inevitable

[Obito]

If the people were to buy the rumors in regards to Amazon integrating their platform to a crypto platform, the price will definitely go up but @pooya87 is right, this run has been happening even before Amazon so we better watch out and be alert because rumors don't pay big unless you have the right timing for these things.

[Oshosondy]

Continued ranging on the bottom or break out and starting to move back to ATHs?

I am not quite sure if the price if bitcoin will reach all-time-high, the price is still $40000 recently, reaching $65000 and up is not what we can decide for now, but the price has increased to over $40000 two time recently, this makes me think it is possible for the $40000 to be the support price while now aiming for $50000.

The reason why it dropped back down was also not because of Amazon news, it was simply because it reached $40k and the whale manipulators weren't ready so they unloaded on the market trying to delay the inevitable

The price of bitcoin is now $40000 again, if this holds for long, very possible thst $40000 can be the support price aiming for $50000.

[OgNasty]

Certainly feels like a breakout. The weekly chart is looking pretty bullish. Usually when this sort of thing happens, it can run for a couple months. It might be a little early for the run into six figures but it certainly feels like we’ve turned a corner and are headed in that direction. Remember to not use leverage and enjoy the ride.

[traderethereum]

I think bitcoin will have more power to raise the price to the high price and back to above $40k because it seems the crypto market sentiment is back on bitcoin.
But we can not have an accurate analysis since the bitcoin price can move anywhere.
Hopefully, this month will change everything and bitcoin can start another rally to the high price and altcoin will also follow.
Who knows, the price will be staying at the current price for a while before it starts the next rally.
If that happens, we still need to be careful because there will be a chance for the bitcoin price to go down below the price.

[cryptomaniac_xxx]

What do you think? After the Amazon rumor pump, followed by dropping back to $36k when Amazon said it wasn't true, Bitcoin is now a day later back pushing $40k. The market bottom has been roughly the $30,000s range (basically $29k to $41k) for the past 2+ months, do you think bitcoin now has enough strength to break out of the bottom of this mini-bear market in the next few days/week or will the price slump back down and stay in the $30,000s for a while longer?

Continued ranging on the bottom or break out and starting to move back to ATHs?

It briefly touches $40k like 4-5 hours ago as I was checking the price. And then go down to $39k and now check the price is above $40k again. So I guess the opposite happen here, is a mini bull run that we are witnessing and it's good to see the price pumping even after the Amazon denial. So it means that investors seeing this as a great opportunity. Breaking $40k and then we will see another massive pump to $43k, that's what I'm seeing in the market movement right now.

[UnDerDoG81]

I am only convinced if we break 41/42k. Until then it is bulls hopium, just as 29.5k was bears hopium that we go sub 19 May low.

[Snappycoco]

What do you think? After the Amazon rumor pump, followed by dropping back to $36k when Amazon said it wasn't true, Bitcoin is now a day later back pushing $40k. The market bottom has been roughly the $30,000s range (basically $29k to $41k) for the past 2+ months, do you think bitcoin now has enough strength to break out of the bottom of this mini-bear market in the next few days/week or will the price slump back down and stay in the $30,000s for a while longer?

Continued ranging on the bottom or break out and starting to move back to ATHs?

Rumors about amazon was days out before BTC goes bullish. I believe the price action rose when Twitter CEO talks with Elon and Ark invest CEO Catherine wood was surely the reason for this bullishness. Institutions were probably bullish after their talks and specially that they strongly believe that all if institutions weren't invest now, they'll be left behind soon. Nonetheless, it would surely break the 40K-45K mark and goes beyond it by the end of the month.

[rahmatrf331]

What do you think? After the Amazon rumor pump, followed by dropping back to $36k when Amazon said it wasn't true, Bitcoin is now a day later back pushing $40k. The market bottom has been roughly the $30,000s range (basically $29k to $41k) for the past 2+ months, do you think bitcoin now has enough strength to break out of the bottom of this mini-bear market in the next few days/week or will the price slump back down and stay in the $30,000s for a while longer?

Continued ranging on the bottom or break out and starting to move back to ATHs?

Rumors about amazon was days out before BTC goes bullish. I believe the price action rose when Twitter CEO talks with Elon and Ark invest CEO Catherine wood was surely the reason for this bullishness. Institutions were probably bullish after their talks and specially that they strongly believe that all if institutions weren't invest now, they'll be left behind soon. Nonetheless, it would surely break the 40K-45K mark and goes beyond it by the end of the month.

I agree with your thinking that rumors about amazon were out a few days before BTC went bullish, but now BTC has started to take off. I can guess that a lot of investors missed their flight at that time, they still thought that btc was standing still and there was no sound on the plane. still negligent when the graph goes up again or the graph will go down again.

[Koro-Sensei]

What do you think? After the Amazon rumor pump, followed by dropping back to $36k when Amazon said it wasn't true, Bitcoin is now a day later back pushing $40k. The market bottom has been roughly the $30,000s range (basically $29k to $41k) for the past 2+ months, do you think bitcoin now has enough strength to break out of the bottom of this mini-bear market in the next few days/week or will the price slump back down and stay in the $30,000s for a while longer?

Continued ranging on the bottom or break out and starting to move back to ATHs?

Rumors about amazon was days out before BTC goes bullish. I believe the price action rose when Twitter CEO talks with Elon and Ark invest CEO Catherine wood was surely the reason for this bullishness. Institutions were probably bullish after their talks and specially that they strongly believe that all if institutions weren't invest now, they'll be left behind soon. Nonetheless, it would surely break the 40K-45K mark and goes beyond it by the end of the month.

Yeah and this bullishness is not caused by retailers but institutions being bullish and not wanting to be left behind. I heard that one too in coin bureua channel and I found his video very much precise about what's happening within the week. I am seeing a a massive pump up to 45K price of bitcoin this incoming week and a break out in the next couple months that would probably cause a new all time high.

[Review Master]

Better watch out the strong resistance zone instead of thinking that it would be the breakout point for bitcoin to take another bullish rally. TBH, it could be a fakeout even if bitcoin can maintain the movements above $40k price level. As per previous bull season, bitcoin took this type of fakeout before the crossover between 20 & 50 weekly MA indicators and we officially entered into the bear market again when the crossover was done. So, i'll watch out the potential crossover point to see if history will repeat or not. 

[Imran232]

The price rise had nothing to do with Amazon, it started long before the fake news came out and even after it people weren't paying any attention to the Amazon news. This is also not the first time they spread some fake rumor about some big company like Amazon accepting bitcoin and the price never reacts to it.
The reason why it dropped back down was also not because of Amazon news, it was simply because it reached $40k and the whale manipulators weren't ready so they unloaded on the market trying to delay the inevitable

Yes sir you are right. This might be another tough time coming. Because of some Fud news bitcoin price is in a range of $29k - $41k. And it is bitcoin position since two months. So the whale was waiting for a pump so that they can take another chance to grab profit at $40k.  Then again spreading fud news they dump market to take position again in a bottom price. And i recently saw a tweet i can't remember whose tweet but according to him a big amount of bitcoin sending maybe some exchange account.  Now who knows why he might be done it. Lets see what news comes in the market sir.

[thecodebear]

What do you think? After the Amazon rumor pump, followed by dropping back to $36k when Amazon said it wasn't true, Bitcoin is now a day later back pushing $40k. The market bottom has been roughly the $30,000s range (basically $29k to $41k) for the past 2+ months, do you think bitcoin now has enough strength to break out of the bottom of this mini-bear market in the next few days/week or will the price slump back down and stay in the $30,000s for a while longer?

Continued ranging on the bottom or break out and starting to move back to ATHs?

Rumors about amazon was days out before BTC goes bullish. I believe the price action rose when Twitter CEO talks with Elon and Ark invest CEO Catherine wood was surely the reason for this bullishness. Institutions were probably bullish after their talks and specially that they strongly believe that all if institutions weren't invest now, they'll be left behind soon. Nonetheless, it would surely break the 40K-45K mark and goes beyond it by the end of the month.

The Amazon looking for a crypto expert was a few days before the big pump from $33k/$34k to $40k, and the B-word meeting initiated the pump from like $30k to $34k. But then there was, separately, the rumor about Amazon accepting Bitcoin and immediately when that news hit it pumped from $33k/$34k to around $40k. The Amazon rumor was without doubt the catalyst for moving Bitcoin from $33k/$34k to the $40k range, which is even more obvious given that it immediately dropped several thousand dollars when Amazon said it wasn't true.

Sometimes news directly affects Bitcoin in big ways and it is very obvious, no need to try to pretend like it isn't true (which it seems multiple people in this thread are set on doing). Don't see why people so often try to say clear catalysts didn't happen. Just accept it and move on people! Even though the rumor was false it was great for the bitcoin market, it liquidated a bunch of bears and vastly improved the current market position for Bitcoin so that we are now looking at a possible breakout from this market bottom!

[thecodebear]

There was a sharp attempt at knocking the price down a couple hours ago - dropped by $600 in 2 or 3 minutes, but bottomed a bit lower just under $39k and is now already back over $40k and currently at $40,500. The defending of high $30,000s the past couple days after a huge pump, even after the news that caused the pump turned out to be false, makes me think we are indeed heading for a breakout from the bottom of the market.

This reminds me of the last couple days of March 2019 when Bitcoin was hanging around $4000/$4100 and fighting through resistance getting ready to break out of the market bottom on April 1st of that year to start the new long term bull market.

Bitcoin is right where resistance holding it in the bottom range has been - that $41k-$42k range. So far it is topping out under $41k but strongly defending high $30,000s. If the market is ready to call it quits on this mini-bear then we could see a breakout before this weekend! I equally wouldn't be surprised if a week from now we're over $45k or back to $35k but I am like 60/40 on a breakout at this point.

[BlackHatCoiner]

I think that you should remove that “I don't know” option, because whoever knows for sure, which seems all of the voters except me, is a liar. We don't know if it'll break out the $30,000 market bottom; we may believe in some studies or want to believe, but the price is a matter of the market. The way people accumulate isn't nuclear physics.

So a better question for this poll would be: “Do you believe that it's about to break $x?” instead of calling what we're now go through a mini-bear market.

[rhomelmabini]

We are on an accumulation phase and it will take more than 2 months if continue ranging from this level. Whenever we touch that $40.8k or $41k level Bitcoin goes for a decline, I guess that's healthy one so better to get some bag while it goes a short dip. Overall, it's better to wait than hopping in because of FOMO, never gonna trade a breakout.

[goaldigger]

A small pullback is normal and I don’t think the price will go back to the level of $30k again though it can happen depends on the move of the whales. For now, its good that we are able to rise on the price of $40k, are next target is to go beyond $45k and sustain that momentum so we can end this year on a good prices, all time high is possible again, keep watching.

[LUCKMCFLY]

The price of BTC has been recovering very quickly, since the bottom of $ 30k is being left behind, when the price rose from $ 34k to $ 36k it was already seen that it could reach $ 40k, it even arrived, but it is trading a lot in the $ 39k levels, I think the bullish momentum is stronger:

Bitcoin rallied and tried to cross the $40,000 mark just a few days back too; prices moved around the same range for some time for the market trend to strengthen. Average Directional Index was pictured above 40-mark; a reading that signified a strengthening market trend.

Green signal bars on Awesome Oscillator also grew in size and number implying an onset of bullish strength.

Source: https://ambcrypto.com/bitcoin-xrp-and-cardano-price-analysis-july-28/

Everything indicates that the trend will be bullish, but you have to wait, anything can happen in the market.