Bitcoin price is returning to $40K — But will shorts have their revenge?

[Justin Beiiberr]

BITCOIN NEWS TODAY
Bitcoin (BTC) returned to $40,000 on Wednesday as bulls and bears waged a tug-of-war for hard-won higher ground.
“A lot can happen” from current BTC price levels
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $40,200 overnight, sealing a rare eight straight green daily candles in a row.

“But $40k is a local max, so there’s also LOTS of potential for shorts put on much lower to get liquidated if we rally even a little more. We’ll see! It should be an interesting next few days, and I’m sure glad I caught up on sleep.”

Investors had been initially skeptical of the strength of the initial rally, which began Monday, after a snap surge past the $40,000 mark followed by a roughly 9% correction.

For Sam Trabucco, a qualitative crypto trader at Alameda Research, such behavior was of little surprise, based on previous rallies, but the next few days should be tense.

“A lot can happen from here — BTC has had a stock beta, so there’s potential for it to remain sorta beholden to that, and there has historically been ‘round number resistance’ maybe causing it to struggle staying >$40k,” he concluded in a series of tweets on Wednesday.

His predictions came as shorts nonetheless remained low on major exchange Bitfinex on the day — earlier this month, sudden increases had noticeably influenced short-term price pressure.

Examining buy and sell levels on major exchange Binance, meanwhile, showed $38,500 growing as Bitcoin’s nearest support level, with $41,000 likewise hardening as resistance.

Conten by Coin telegraph
https://cointelegraph.com/news/bitcoin-price-is-returning-to-40k-but-will-shorts-have-their-revenge

[btc_angela]

Doesn't make sense to short during this kind of min bull run we have. For sure millions is lost when the price goes from $40k->$36k->$30k again. Shorting is only profitable when the market is obviously going on a down ward spiral.

But since bitcoin has been steadily recovering and have break the psychological barrier of $40k, there is a highly chance that we are looking for the next big resistance which is $43k.

[Slow death]

We have to thank the rumor that the amazon would accept bitcoin, thanks to this false news people rushed to buy a lot of bitcoin and today the price is at 39,000$ but on the other hand the prices of altcoins in relation to bitcoin have fallen a lot, when that happens it means that people are selling altcoins to buy bitcoin and in the end they will switch from bitcoin to altcoin, I don't like it when the market behaves this way, I prefer it when so much bitcoin increases in prices and altcoins in relation to bitcoin also increase in prices, because becomes a more solid growth

but in any case in the long term the prospect are much more tempting.

 

even if the price dropped a lot I doubt that the people who make Hodl would stop being optimistic about the future, the truth is that people put a lot of faith in bitcoin in the long run and nothing changes

[Justin Beiiberr]

So, what do you think about this news. Are you really doing anything out of this news and analysis you share?
Last week, the strongest support for bitcoin price was at $28K and now it has turned to $38K and resistance has been above $40K. Fantastic, I know in the short term maybe some traders have made a profit, but in any case in the long term the prospect are much more tempting.

I just think from the news source that I think it's true this week bitcoin will return to $40k or more or it could be good it will go up to $50k, the worst possibility is to return below $40k, hopefully later there will be a lot of good news about BITCOIN, like this week, thank you

[hd49728]

We might see a small correction of Bitcoin. It might retest $36k before going through another side way. I think the market will be better since September. By that I expect a sideway of another one to two months after this correction.

Now, it's in the end of July and one to two more months will lead us to end of August or September.

November will be for Taproot activation.

[haidil]

Short for Bitcoins? I strongly discourage if all should trade using short-range schemes. While the holders will stay long enough in this bull market. In my opinion, Short, for now, will be too high risk if not prepared with a mature strategy. After all, the most effective thing for Bitcoin trading right now is to keep holding on to it until everything is at its highest peak.
.

[pawanjain]

Doesn't make sense to short during this kind of min bull run we have. For sure millions is lost when the price goes from $40k->$36k->$30k again. Shorting is only profitable when the market is obviously going on a down ward spiral.

But since bitcoin has been steadily recovering and have break the psychological barrier of $40k, there is a highly chance that we are looking for the next big resistance which is $43k.

Shorting at $40k is a very good bet in my opinion provided we have our stop losses included in the trade.
Bitcoin price has been going sideways since the recent dip a few months ago. It has been range bound in $40k to $28k.
As per data from Glassnode, we are not quite ready yet for a bull run which is why placing a short at $40k does seem like a good bet.
But yeah, this is crypto and anything can happen here. Setting stoplosses and monitoring regularly would be best thing to do since price can spike up overnight.

[BrewMaster]

Doesn't make sense to short during this kind of min bull run we have.

some people will always lose money and remain poor. if it were any other way trading would have become THE way to become rich for literary everyone. there has to be so many newbies who keep betting against the market and lose money so that the rest can make profit from their mistakes.

[jossiel]

Shorting right now could lead you to be being left behind if this is just the start.

I think this the best average price BTC around 38-40k$.Most people buy BTC this time but when price will be down like $30k-$35k then they lose money. But I think BTC price will be rise November - December.

There's more to it.

And those that don't buy when it was $30k, they've just missed the whole thing but it's not too late for them. We can still have another run and they should buy before that happens.

[Clavulanic]

I think this the best average price BTC around 38-40k$.Most people buy BTC this time but when price will be down like $30k-$35k then they lose money. But I think BTC price will be rise November - December.

This is going to be exciting for the next couple of days, because more investors was now buying back and as the trend goes so noisy positive feedbacks will be heard which also added confident to many. This is what making cryptocurrency so worth it, since a lots of ideas was driven by groups and not only relying on one person who share their speculations about btc and other crypto coins.

[Obito]

Doesn't make sense to short during this kind of min bull run we have.

Unless the recent rumors getting debunked make a big negative impact on bitcoin, I am pretty sure that those who short the prices are going to make a lot of money since there's still a possibility of rug pull that can cause some people to either lose money or gain big profit depending on their position on the market. People who short would disagree with you in terms of shorting the market doesn't make sense.

[el kaka22]

Eventually? I mean it is unthinkable to imagine bitcoin will never go down, of course it will go down, what we can't do however is the fact that price will not be going up forever, it is impossible for us to go up and up and up without ever going down.

It means that we should be seeing the shorts getting their revenge one day, the price will drop significantly one day and in that day whoever shorted their position will be making a profit. Will that be anytime soon? I can't know, nobody can know, if we "knew" what will happen then we would be rich, I will put all my money into 150x leverage towards the position I think it will go and I will make so much money, 3 times being right like that and you are one of the richest person on earth, because even 1k could become 100k+ in one try, and 100k could become 10+ million in second try, and 10+ million will become 1 billion on third try (not enough volume to cover that of course) so nobody really knows, if they did they would be richest man on earth in 3-4 tries.

[BITCOIN4X]

Eventually? I mean it is unthinkable to imagine bitcoin will never go down, of course it will go down, what we can't do however is the fact that price will not be going up forever, it is impossible for us to go up and up and up without ever going down.

Bitcoin price movement are something that is very difficult to predict. For most of the time we have seen it go up and down. Being something is unavoidable as bitcoin is traded freely in the market and supply and demand will be the deciding factor. We can still expect the price to down after a big gain and we also expect a new ATH to form after the dump. That's how the market works and sometime we are too rigid to judge that whale like to manipulate the market.

We see bitcoin as one of the most potential cryptocurrencies. There is no doubt that this is an asset that will always be considered for buying whether the price goes up or the price goes down. The next wait is the new ATH and this will be the most awaited thing this year after last April.

[thecodebear]

Price is moving up through that resistance zone in the $41,000s now. Would like to see a full on break of resistance and shoot up a couple thousand dollars tonight or tomorrow to put the bottom of this market to bed and end this mini-bear market and get this long term super cycle moving along again.

[ultrloa]

Eventually? I mean it is unthinkable to imagine bitcoin will never go down, of course it will go down, what we can't do however is the fact that price will not be going up forever, it is impossible for us to go up and up and up without ever going down.

Bitcoin price movement are something that is very difficult to predict. For most of the time we have seen it go up and down. Being something is unavoidable as bitcoin is traded freely in the market and supply and demand will be the deciding factor. We can still expect the price to down after a big gain and we also expect a new ATH to form after the dump. That's how the market works and sometime we are too rigid to judge that whale like to manipulate the market.

Yeah its hard to predict but what's good happening right now is bitcoin bouncing back again and the price touch down at almost $42k so I wonder on where is the stop point on this since if we can see $50k or even $60k next month provably this will create a huge break on bitcoin. Although you are right that we can still expect the price to go down but as it shows a good recovery we can still rely that we cannot see a huge bear market season the same on what happen last 2018.

[Argoo]

Eventually? I mean it is unthinkable to imagine bitcoin will never go down, of course it will go down, what we can't do however is the fact that price will not be going up forever, it is impossible for us to go up and up and up without ever going down.

Bitcoin price movement are something that is very difficult to predict. For most of the time we have seen it go up and down. Being something is unavoidable as bitcoin is traded freely in the market and supply and demand will be the deciding factor. We can still expect the price to down after a big gain and we also expect a new ATH to form after the dump. That's how the market works and sometime we are too rigid to judge that whale like to manipulate the market.

Yeah its hard to predict but what's good happening right now is bitcoin bouncing back again and the price touch down at almost $42k so I wonder on where is the stop point on this since if we can see $50k or even $60k next month provably this will create a huge break on bitcoin. Although you are right that we can still expect the price to go down but as it shows a good recovery we can still rely that we cannot see a huge bear market season the same on what happen last 2018.

Of course, the situation of previous years in terms of price will not be repeated. Even if there are some general patterns in the rise and fall of bitcoin and other cryptocurrencies in this market, the time of year and news information are different. Therefore, everything cannot be exactly repeated. Indeed, there should be no longer a long bear market after the last sustained rally in the first half of this year. We see that prices are going up little by little. Now the price of bitcoin is $ 41,928. However, I expect good price growth in the fall.

[onecall123]

Price is moving up through that resistance zone in the $41,000s now. Would like to see a full on break of resistance and shoot up a couple thousand dollars tonight or tomorrow to put the bottom of this market to bed and end this mini-bear market and get this long term super cycle moving along again.

Here it is. I've been waiting for a post like this for a very long time. In the coming days, the price will test the major resistance and start the bullish breakout. Suddenly, I had a feeling that a bitcoin rocket is about to launch. I'm sorry to the haters, but Bitcoin is gonna pump once again. But, Be careful not to get wrecked.

[kotajikikox]

Bitcoin even break 42k earlier but down back to 41k and this is the strongest position since the price drops down to below 20k .

if bitcoin continues climbing and breaks the 45,000 price? then we will be seeing 50k faster from that.

Price is moving up through that resistance zone in the $41,000s now. Would like to see a full on break of resistance and shoot up a couple thousand dollars tonight or tomorrow to put the bottom of this market to bed and end this mini-bear market and get this long term super cycle moving along again.

Here it is. I've been waiting for a post like this for a very long time. In the coming days, the price will test the major resistance and start the bullish breakout. Suddenly, I had a feeling that a bitcoin rocket is about to launch. I'm sorry to the haters, but Bitcoin is gonna pump once again. But, Be careful not to get wrecked.

waiting for a long time? lol you have already read same post all over the forum because that is a purely shilling post from a bounty hunter lol.

[Kong Hey Pakboy]

I don't think that the shorters will have their way anytime soon because I feel like they're going to have to wait for awhile because the rumor about Amazon was already cleared but the prices are still able to make some movement so I think that they have to wait for some time.

[Xinarae*]

The price of bitcoin has risen so much that even if the shorts take their revenge, they will not be able to survive in many aspects. That's why traders should invest and hold on to bitcoin they are worrying the bosses by spreading shorts and these false rumors it is not possible to move forward in the crypto market without taking risks. Therefore it is necessary to wait for a long period of time only the time constraint the price will go up again.